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<SEC-DOCUMENT>0000800166-10-000002.txt : 20100108
<SEC-HEADER>0000800166-10-000002.hdr.sgml : 20100108
<ACCEPTANCE-DATETIME>20100107183128
ACCESSION NUMBER:		0000800166-10-000002
CONFORMED SUBMISSION TYPE:	6-K
CONFIRMING COPY:	
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20100107
FILED AS OF DATE:		20100108
DATE AS OF CHANGE:		20100107

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Gold Inc. /FI
		CENTRAL INDEX KEY:			0000800166
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31722

	BUSINESS ADDRESS:	
		STREET 1:		3110 - 666 BURRARD ST.
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2X8
		BUSINESS PHONE:		(604) 696-4100

	MAIL ADDRESS:	
		STREET 1:		3110 - 666 BURRARD ST.
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V6C 2X8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DRC RESOURCES CORP                                      /FI
		DATE OF NAME CHANGE:	19860904
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>form6k-20100107pr.htm
<DESCRIPTION>FORM 6K - JANUARY 7, 2010 PRESS RELEASE
<TEXT>
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    <div>&#160;</div>
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STATES</font></div>
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AND EXCHANGE COMMISSION</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Washington,
D.C. 20549</font></div>
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6-K</font></div>
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OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES
EXCHANGE ACT OF 1934</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For the
month of January 2010</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Commission
File Number 001-31722</font><br></div>
      <div style="TEXT-ALIGN: center; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><img src="newgoldlogo.jpg" alt=""></div>
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Gold Inc.</font></div>
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      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Park
Place, 3110 &#8211; 666 Burrard Street</font></div>
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British Columbia V6C 2X8</font></div>
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of principal executive office)</font></div>
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by check mark whether the registrant files or will file annual reports under
cover of Form 20-F or Form 40-F.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 41.35pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Form 20-F
<font style="DISPLAY: inline;" face="Wingdings">o</font><font style="DISPLAY: inline; FONT-SIZE: 10pt" face="Wingdings 2, serif">&#160;</font>Form
40-F <font style="DISPLAY: inline;" face="Wingdings">&#253;</font></font></div>
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by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(1): <font style="DISPLAY: inline;" face="Wingdings">o</font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Note</font>: Regulation S-T Rule
101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely
to provide an attached annual report to security holders.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted
by Regulation S-T Rule 101(b)(7): <font style="DISPLAY: inline;" face="Wingdings">o</font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">Note: </font>Regulation S-T Rule
101(b)(7) only permits the submission in paper of a Form 6-K if submitted to
furnish a report or other document that the registrant foreign private issuer
must furnish and make public under the laws of the jurisdiction in which the
registrant is incorporated, domiciled or legally organized (the registrant&#8217;s
&#8220;home country&#8221;), or under the rules of the home country exchange on which the
registrant&#8217;s securities are traded, as long as the report or other document is
not a press release, is not required to be and has not been distributed to the
registrant&#8217;s security holders, and, if discussing a material event, has already
been the subject of a Form 6-K submission or other Commission filing on
EDGAR.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Indicate by check mark whether the
registrant by furnishing the information contained in this Form is also thereby
furnishing the information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934. Yes </font><font style="DISPLAY: inline; FONT-SIZE: 10pt" face="Wingdings">o</font><font style="DISPLAY: inline;" face="Wingdings 2, serif">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">No </font><font style="DISPLAY: inline; FONT-SIZE: 10pt" face="Wingdings">&#253;</font></font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 1.8pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">If &#8220;Yes&#8221;
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b): 82-____________.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">DOCUMENTS
FILED AS PART OF THIS FORM 6-K</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">See the
Exhibit Index hereto.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">SIGNATURES</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 18pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.</font></div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      <div>
        <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
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      </font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="top" width="8%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td colspan="2" valign="top" width="38%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NEW
      GOLD INC.</font></div>
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            </tr><tr>
              <td valign="top" width="42%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td align="left" valign="top" width="8%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">By:</font></div>
              </td>
              <td align="left" valign="top" width="18%" style="BORDER-BOTTOM: black 2px solid">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">/s/
      <font style="FONT-STYLE: italic; DISPLAY: inline">Susan
      Toews</font></font></div>
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              <td valign="top" width="20%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
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              <td valign="top" width="42%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td valign="top" width="12%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
              <td align="left" valign="top" width="8%">
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              </td>
              <td align="left" colspan="2" valign="top" width="38%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Susan
      Toews</font></div>
              </td>
            </tr><tr>
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      January 7, 2010</font></div>
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      </font></td>
              <td align="left" valign="top" width="8%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Title:</font></div>
              </td>
              <td align="left" colspan="2" valign="top" width="38%">
                <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">General
      Counsel and Corporate Secretary</font></div>
              </td>
            </tr></table>
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      <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>pr20100107.htm
<DESCRIPTION>PRESS RELEASE OF JANUARY 7, 2010
<TEXT>
<html>
<head>
    <title>pr20100107.htm</title>
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<body bgcolor="#ffffff" style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">
    <div>&#160;</div>
    <div>
      <hr style="MARGIN-TOP: -5px; COLOR: #000000" noshade size="4">
      <hr style="MARGIN-TOP: -10px; COLOR: #000000" noshade size="1">
    </div>
    <div style="TEXT-ALIGN: right">Exhibit&#160;99.1</div>
    <div><img src="newgoldlogo.jpg" alt=""></div>
    <div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
      </div>
      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
        <div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
            <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          </div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
            <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">NEWS
RELEASE</font></div>
          </div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
            <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          </div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">New
Gold Announces Exercise of El Morro Right of First Refusal and Partnership with
Goldcorp</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
            <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          </div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(All
figures are in US dollars unless otherwise stated)</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold">January 7, 2010 &#8211; </font>New Gold
Inc. (&#8220;New Gold&#8221;) (TSX and NYSE AMEX-NGD) today provided notice to Xstrata
Copper Chile S.A. (&#8220;Xstrata&#8221;), a wholly owned subsidiary of Xstrata Plc, of the
exercise of its right of first refusal to acquire 70% of the El Morro
copper-gold project (&#8220;El Morro&#8221;) in Chile for $463 million. New Gold, as
Xstrata&#8217;s current 30% joint venture partner in El Morro, holds the right of
first refusal which came into effect on October 12, 2009 when Barrick Gold
Corporation (&#8220;Barrick&#8221;) announced that it had entered into an agreement with
Xstrata to acquire 70% of El Morro. Goldcorp Inc. (&#8220;Goldcorp&#8221;) will loan the
$463 million to New Gold to fund the exercise of the right of first refusal.
After acquisition of the 70% interest by a New Gold subsidiary, New Gold will
sell that subsidiary to Goldcorp.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Concurrent
with the sale of the New Gold subsidiary to Goldcorp, Goldcorp will make a $50
million payment to New Gold and the parties will amend the terms of the existing
El Morro Shareholders Agreement (&#8220;the Agreement&#8221;) to further increase the value
of New Gold&#8217;s 30% interest in the El Morro project.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">El Morro
is an advanced stage copper-gold project located in north-central Chile, Region
III, approximately 80 kilometres east of the city of Vallenar. On a 100% basis,
El Morro contains 6.7 million ounces and 5.7 billion pounds of gold and copper
reserves, respectively<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font>,
with an additional 2.2 million ounces and 1.0 billion pounds of gold and copper
in the measured and indicated categories<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font>.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#8220;We are
very excited about this transaction as it provides our company with multiple
benefits: a world-class partner in Goldcorp, a favourable revision of the
Agreement and an upfront cash payment,&#8221; said Randall Oliphant, Executive
Chairman. &#8220;Our interest in El Morro continues to represent a very exciting
growth project for the company, particularly with the meaningful economic
enhancements this transaction provides.&#8221;</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">&#160;</font></div>
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            <div id="FTR" style="TEXT-ALIGN: right">Page 1/3

              <div id="GLFTR" style="WIDTH: 100%" align="left">
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              <div style="TEXT-ALIGN: center; WIDTH: 100%">
              </div>
              <div style="TEXT-ALIGN: center; WIDTH: 100%">
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              </div>
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              </div>
            </div>
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          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Key
Benefits to New Gold</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">As a
result of the transaction with Goldcorp, New Gold will continue its
participation as a 30% partner in the world-class El Morro project under an
improved Agreement with the following benefits being realized by the
company:</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block">
            <div>
              <table cellpadding="0" cellspacing="0" width="100%" style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-SIZE: 10pt; FONT-FAMILY: times new roman">
<tr>
                    <td colspan="3" valign="top" width="72%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Agreement
      Revisions</font></div>
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center">&#160;</div>
                    </td>
                  </tr><tr>
                    <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                    <td valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Original
      Agreement</font></div>
                    </td>
                    <td valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Revised
      Agreement</font></div>
                    </td>
                  </tr><tr>
                    <td align="left" valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Upfront
      Payment</font></div>
                    </td>
                    <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                    <td valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">$50
      million</font></div>
                    </td>
                  </tr><tr>
                    <td align="left" valign="top" width="24%">
                      <div style="TEXT-INDENT: -9pt; DISPLAY: block; MARGIN-LEFT: 9pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Percentage
      of New Gold's 30% share of development capital carried</font></div>
                    </td>
                    <td valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">70%</font></div>
                    </td>
                    <td valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">100%</font></div>
                    </td>
                  </tr><tr>
                    <td align="left" valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Interest
      charged on carried funding<font style="DISPLAY: inline; FONT-SIZE: 70%; VERTICAL-ALIGN: text-top">(1)</font></font></div>
                    </td>
                    <td align="left" valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Xstrata
      cost of capital + 100 basis points (Most recently 12.1%)</font></div>
                    </td>
                    <td align="left" valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">U.S.
      7-year Treasury Rate + 187 basis points (Most recently 5.2%)</font></div>
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block">&#160;</div>
                    </td>
                  </tr><tr>
                    <td align="left" valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Initiation
      of Construction Guarantee</font></div>
                    </td>
                    <td valign="top" width="24%"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">&#160;
      </font></td>
                    <td align="left" valign="top" width="24%">
                      <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Within
      60 days of receipt of permits and approvals (subject to financial penalty
      if not achieved)</font></div>
                    </td>
                  </tr></table>
            </div><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Based on
the El Morro feasibility study capital cost estimate, the incremental 30% carry
will negate the funding of approximately $225 million in capital costs New Gold
would have otherwise had to provide for the development of the project.
Combining this savings with the more favourable interest rate on the carried
funding and the $50 million upfront payment significantly enhances the financial
flexibility of the company.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">New Gold
looks forward to working with Goldcorp, who has a proven track record of mine
development, as its new partner in advancing El Morro to production and as a
potential future partner on other precious metal mining projects
globally.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The
transactions are subject to customary closing conditions and are anticipated to
close within 15 business days of the execution of the sale
agreement.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">New
Gold&#8217;s financial advisor is BMO Capital Markets and its legal advisor is Lawson
Lundell LLP.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">&#160;</font><br>&#160;</div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">About
New Gold</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">New Gold
is an intermediate gold mining company with the Mesquite Mine in the United
States, Cerro San Pedro Mine in Mexico and Peak Mines in Australia. The company
is expected to produce between 270,000 and 300,000 ounces of gold in 2009
growing to over 400,000 ounces in 2012. In addition, New Gold has a strong
portfolio of development and exploration assets in North and South
America.&#160;&#160;For further information on the company, please visit <font style="DISPLAY: inline; TEXT-DECORATION: underline">www.newgold.com</font>.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(1) El
Morro&#8217;s mineral reserves and resources are reported as of March 31, 2008.
Mineral reserves have been calculated based on a gold price of $500/oz, a copper
price of US$1.25/lb and a cut-off of 0.30% copper-equivalent (&#8220;EqCu&#8221;) where:
EqCu(%) = Cu(%) + 0.592 x Au (g/t)&#160;&#160;and&#160;&#160;Cu(%) = percent
copper and Au(g/t) = grams per tonne gold. The qualified person as defined under
NI43-101 is Mr. Richard J. Lambert, P.E and formerly Principal Mining Engineer
for Pincock, Allen &amp; Holt Inc., currently Executive VP with Scott Wilson
Roscoe Postle Associates. Mineral resources have been estimated based on
US$500/oz gold, US$1.25/lb copper and a&#160;&#160;grade cut-off of 0.3%
copper-equivalent (&#8220;EqCu&#8221;) where: EqCu(%) = Cu(%) + 0.592 x Au
(g/t)&#160;&#160;and&#160;&#160;Cu(%) = percent copper and Au(g/t) = grams per
tonne gold. Mineral resources are based on an economically constrained &#8220;mineral
resource pit&#8221; that uses the same cost and metal recovery parameters used to
define mineral reserves as described in the May 2008 NI 43-101 technical report
for the project. Mineral resources are exclusive of mineral reserves. The
qualified person as defined under NI43-101 is Mr. Barton G. Stone, P. Geo and
Chief Geologist for Pincock, Allen &amp; Holt Inc.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">(2) Both
the Xstrata estimated weighted average cost of capital and the U.S. 7-year
treasury rate are sourced from Bloomberg.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
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              <div style="TEXT-ALIGN: center; WIDTH: 100%">
              </div>
              <div style="TEXT-ALIGN: center; WIDTH: 100%">
                <hr style="COLOR: black" noshade size="2">
              </div>
            </div>
            <div id="HDR">
              <div id="GLHDR" style="WIDTH: 100%" align="right">
              </div>
            </div>
          </div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CAUTIONARY
NOTE REGARDING FORWARD-LOOKING STATEMENTS</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Certain
information contained in this press release, including any information relating
to New Gold&#8217;s future financial or operating performance may be deemed &#8220;forward
looking&#8221;. All statements in this press release, other than statements of
historical fact, that address events or developments that New Gold expects to
occur, are &#8220;forward-looking statements&#8221;. Forward-looking statements are
statements that are not historical facts and are generally, but not always,
identified by the words &#8220;expects&#8221;, &#8220;does not expect&#8221;, &#8220;plans&#8221;, &#8220;anticipates&#8221;,
&#8220;does not anticipate&#8221;, &#8220;believes&#8221;, &#8220;intends&#8221;, &#8220;estimates&#8221;, &#8220;projects&#8221;,
&#8220;potential&#8221;, &#8221;scheduled&#8221;, &#8220;forecast&#8221;, &#8220;budget&#8221; and similar expressions, or that
events or conditions &#8220;will&#8221;, &#8220;would&#8221;, &#8220;may&#8221;, &#8220;could&#8221;, &#8220;should&#8221; or &#8220;might&#8221; occur.
All such forward looking statements are subject to important risk factors and
uncertainties, many of which are beyond New Gold&#8217;s ability to control or
predict. Forward-looking statements are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause New Gold&#8217;s actual results, level
of activity, performance or achievements to be materially different from those
expressed or implied by such forward-looking statements. Such factors include,
without limitation: significant capital requirements; fluctuations in the
international currency markets and in the rates of exchange of the currencies of
Canada, the United States, Australia, Brazil, Mexico and Chile; price volatility
in the spot and forward markets for commodities; impact of any hedging
activities, including margin limits and margin calls; discrepancies between
actual and estimated production, between actual and estimated reserves and
resources and between actual and estimated metallurgical recoveries; changes in
national and local government legislation in Canada, the United States,
Australia, Brazil, Mexico and Chile or any other country in which New Gold
currently or may in the future carry on business; taxation; controls,
regulations and political or economic developments in the countries in which New
Gold does or may carry on business; the speculative nature of mineral
exploration and development, including the risks of obtaining and maintaining
the validity and enforceability of the necessary licenses and permits and
complying with the permitting requirements of each jurisdiction that New Gold
operates, including, but not limited to, Mexico, where New Gold is involved with
ongoing challenges relating to its environmental impact statement for Cerro San
Pedro Mine; the lack of certainty with respect to the Mexican and other foreign
legal systems, which may not be immune from the influence of political pressure,
corruption or other factors that are inconsistent with the rule of law;
diminishing quantities or grades of reserves; competition; loss of key
employees; additional funding requirements; actual results of current
exploration or reclamation activities; changes in project parameters as plans
continue to be refined; accidents; labour disputes; defective title to mineral
claims or property or contests over claims to mineral properties. In addition,
there are risks and hazards associated with the business of mineral exploration,
development and mining, including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion
losses (and the risk of inadequate insurance or inability to obtain insurance,
to cover these risks) as well as &#8220;Risks Factors&#8221; included in New Gold&#8217;s Annual
Information Form filed on March 31, 2009 and Management Information
Circular&#160;&#160;filed on April 15, 2009, both available at www.sedar.com.
Forward-looking statements are not guarantees of future performance, and actual
results and future events could materially differ from those anticipated in such
statements. All of the forward-looking statements contained in this press
release are qualified by these cautionary statements. New Gold expressly
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, events or otherwise, except
in accordance with applicable securities laws.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">For
further information please contact:</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Hannes
Portmann</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Director,
Corporate Development and Investor Relations</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">New
Gold Inc.</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Direct:
+1 (416) 324-6014</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Email:
info@newgold.com</font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Website:
<font style="DISPLAY: inline; TEXT-DECORATION: underline">www.newgold.com</font></font></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div>
          <div style="TEXT-INDENT: 0pt; DISPLAY: block"><br></div><br></div>
      </div>
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3/3</div>
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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
