<SEC-DOCUMENT>0001279569-16-002890.txt : 20160309
<SEC-HEADER>0001279569-16-002890.hdr.sgml : 20160309
<ACCEPTANCE-DATETIME>20160308183503
ACCESSION NUMBER:		0001279569-16-002890
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20160308
FILED AS OF DATE:		20160309
DATE AS OF CHANGE:		20160308

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
		FILM NUMBER:		161492889

	BUSINESS ADDRESS:	
		STREET 1:		1800 - 555 BURRARD ST.
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V7X 1M9
		BUSINESS PHONE:		(604) 696-4100

	MAIL ADDRESS:	
		STREET 1:		1800 - 555 BURRARD ST.
		CITY:			VANCOUVER
		STATE:			A1
		ZIP:			V7X 1M9

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DRC RESOURCES CORP                                      /FI
		DATE OF NAME CHANGE:	19860904
</SEC-HEADER>
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<TYPE>6-K
<SEQUENCE>1
<FILENAME>newgold6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 12pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; border-bottom: Black 2pt solid; width: 100%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 14pt Times New Roman, Times, Serif"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 14pt Times New Roman, Times, Serif"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 12pt Times New Roman, Times, Serif"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;<BR>
&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 18pt Times New Roman, Times, Serif"><B>Form
6-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">For the month of March 2016.</P>

<P STYLE="margin: 0">Commission File Number 001-31722</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT><IMG SRC="logo.jpg" ALT=""></P>

<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: center; color: Red"></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: center"><FONT STYLE="font: 24pt Times New Roman, Times, Serif"><B>New
Gold Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Suite 1800 &ndash; 555 Burrard Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Vancouver, British Columbia V7XC 1M9</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Canada</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">(Address of principal executive office)</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form 20-F
&#9744;&nbsp;Form 40-F &#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note</B>:
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></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">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>&#9744;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Note:
</B>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&rsquo;s &ldquo;home country&rdquo;), or under the rules
of the home country exchange on which the registrant&rsquo;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&rsquo;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></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>DOCUMENTS
FILED AS PART OF THIS FORM 6-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <TD STYLE="width: 7%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit</B></FONT></td>
    <TD STYLE="width: 3%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 90%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Description</B></FONT></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="text-align: center">99.1</td>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">News Release Dated March 8, 2016 - New Gold further increases cash flow certainty with gold option contracts</FONT></TD></tr>
<tr style="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif">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></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <td><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <td><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <td colspan="2"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>NEW GOLD INC.</B></FONT></td></tr>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<tr>
    <td style="vertical-align: top; width: 43%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <td style="vertical-align: top; width: 11%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <TD STYLE="vertical-align: top; width: 6%; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By:</FONT></td>
    <TD STYLE="vertical-align: bottom; width: 37%; border-bottom: black 1.5pt solid; text-align: left"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><I>/s/
    Lisa Damiani</I></FONT></td>
    <td style="vertical-align: top; width: 3%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></td></tr>
<tr>
    <TD STYLE="text-align: left; vertical-align: top"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date:&nbsp;&nbsp;March 8, 2016</FONT></td>
    <td style="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <td style="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></td>
    <td colspan="2"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Lisa Damiani</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Vice President, General Counsel</P>

<P STYLE="margin: 0">and Corporate Secretary</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif"></FONT></P>

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<DOCUMENT>
<TYPE>EX-99.1
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<FILENAME>ex991.htm
<DESCRIPTION>NEWS RELEASE DATED MARCH 8, 2016
<TEXT>
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<P STYLE="margin: 0; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Exhibit 99.1</B></FONT></P>

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"><B>New Gold further increases cash flow certainty with gold option
contracts</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><I>(All dollar figures are in US dollars unless otherwise
indicated)</I></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">TORONTO, March 8, 2016 /CNW/ -&nbsp;New Gold Inc. (&quot;New
Gold&quot;) (TSX:NGD) (NYSE MKT:NGD) today announces that the company has entered into gold price option contracts covering 270,000
ounces of New Gold's remaining 2016 production. New Gold purchased put options with a strike price of $1,200 per ounce covering
270,000 ounces of gold and simultaneously sold call options with a strike price of $1,400 per ounce covering an equivalent 270,000
ounces. The contracts will cover 30,000 ounces of gold per month for nine months beginning in April 2016. The net cost of entering
into the option contracts was $2 million. In aggregate, the option contracts provide the company a guaranteed floor price of $1,200
per ounce while also providing exposure to further increases in the gold price up to $1,400 per ounce. New Gold entered into the
contracts in order to further increase cash flow certainty as the company invests in the continued construction of its Rainy River
project, which is expected to begin production in mid-2017.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">&quot;We continue to have a positive view on the gold market.
Given the meaningful increase in the gold price, we are taking a prudent step to establish a floor price for our revenues through
the balance of 2016 while maintaining significant exposure to higher prices,&quot; stated Brian Penny, Executive Vice President
and Chief Financial Officer. &quot;Our unique decision to enter into the option contracts is solely a function of 2016 being our
most significant year of investment at our Rainy River project. We do not have any plans to enter into any similar contracts beyond
this brief nine-month period.&quot;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">New Gold's 2016 gold production guidance is 360,000 to 400,000
ounces at all-in sustaining costs<SUP>(1)</SUP> of $825 to $865 per ounce. Based on the mid-point of New Gold's 2016 all-in sustaining
costs<SUP>(1)</SUP> of $845 per ounce, the gold option contracts should enable the company to generate an all-in sustaining cost
margin<SUP>(2)</SUP> ranging from approximately $355 per ounce on the low end to $555 per ounce on the high end for the 270,000
ounces covered by the contracts. The combination of the company's expected low costs and increased gold price certainty provides
New Gold with further assurance of free cash flow from its four operations for the balance of 2016. New Gold plans to fund the
remaining development capital expenditures at its Rainy River project from a combination of current cash, a $75 million cash receivable
from Royal Gold related to the previously announced Rainy River streaming transaction and free cash flow. In addition, the company
has further financial flexibility through its revolving credit facility. The company expects to spend a total of approximately
$500 million at Rainy River in 2016 with the balance of the development capital of approximately $90 million to be spent in the
first half of 2017.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">Overall, the Rainy River project enhances New Gold's growth
pipeline through its manageable capital costs, significant production scale at below current industry average costs and exciting
longer term exploration potential in a great mining jurisdiction. Rainy River is expected to generate significant gold production
growth for New Gold at costs below the company's 2016 guidance for all-in sustaining costs<SUP>(1)</SUP>. Relative to the company's
consolidated 2016 gold production guidance of 360,000 to 400,000 ounces, Rainy River alone is expected to produce an average of
325,000 ounces of gold annually for the first nine years of its life at estimated all-in sustaining costs<SUP>(1)</SUP> of approximately
$670 per ounce. The company looks forward to advancing the Rainy River project and providing further updates on our progress.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>ABOUT NEW GOLD INC.</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">New Gold is an intermediate gold mining company. The company
has a portfolio of four producing assets and two significant development projects. The New Afton Mine in Canada, the Mesquite Mine
in the United States, the Peak Mines in Australia and the Cerro San Pedro Mine in Mexico, provide the company with its current
production base. In addition, New Gold owns 100% of the Rainy River and Blackwater projects, both in Canada, as well as a 4% gold
stream on the El Morro project located in Chile. New Gold's objective is to be the leading intermediate gold producer, focused
on the environment and social responsibility. For further information on the company, please visit www.newgold.com. &nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS</B><BR>
Certain information contained in this news release, including any information relating to New Gold's future financial or operating
performance are &quot;forward looking&quot;. All statements in this news release, other than statements of historical fact, which
address events, results, outcomes or developments that New Gold expects to occur are &quot;forward-looking statements&quot;. Forward-looking
statements are statements that are not historical facts and are generally, but not always, identified by the use of forward-looking
terminology such as &quot;plans&quot;, &quot;expects&quot;, &quot;is expected&quot;, &quot;budget&quot;, &quot;scheduled&quot;,
&quot;targeted&quot;, &quot;estimates&quot;, &quot;forecasts&quot;, &quot;intends&quot;, &quot;anticipates&quot;, &quot;projects&quot;,
&quot;potential&quot;, &quot;believes&quot; or variations of such words and phrases or statements that certain actions, events
or results &quot;may&quot;, &quot;could&quot;, &quot;would&quot;, &quot;should&quot;, &quot;might&quot; or &quot;will be taken&quot;,
&quot;occur&quot; or &quot;be achieved&quot; or the negative connotation of such terms. Forward-looking statements in this news
release include, among others, statements with respect to: guidance for production, all-in sustaining costs and margin, as well
as expected capital and other expenditures; expected cash flows, funding plans and liquidity; planned activities for 2016 and beyond
at the Rainy River project; the expected production, costs, economics and operating parameters of the Rainy River project; targeting
timing for development, first production and other activities related to the Rainy River project; and statements with respect to
the payment of the remaining $75 million from Royal Gold.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">All forward-looking statements in this news release are based
on the opinions and estimates of management as of the date such statements are made and are subject to important risk factors and
uncertainties, many of which are beyond New Gold's ability to control or predict. Certain material assumptions regarding such forward-looking
statements are discussed in this news release, New Gold's annual and quarterly management's discussion and analysis (&quot;MD&amp;A&quot;),
its Annual Information Form and its Technical Reports filed at www.sedar.com. In addition to, and subject to, such assumptions
discussed in more detail elsewhere, the forward-looking statements in this news release are also subject to the following assumptions:
(1) there being no significant disruptions affecting New Gold's operations; (2) political and legal developments in jurisdictions
where New Gold operates, or may in the future operate, being consistent with New Gold's current expectations; (3) the accuracy
of New Gold's current mineral reserve and mineral resource estimates; (4) the exchange rate between the Canadian dollar, Australian
dollar, Mexican peso and U.S. dollar being approximately consistent with current levels; (5) prices for diesel, natural gas, fuel
oil, electricity and other key supplies being approximately consistent with current levels; (6) equipment, labour and materials
costs increasing on a basis consistent with New Gold's current expectations; (7) arrangements with First Nations and other Aboriginal
groups in respect of the Rainy River project being consistent with New Gold's current expectations; (8) all required permits, licenses
and authorizations being obtained from the relevant governments and other relevant stakeholders within the expected timelines;
(9) the results of the feasibility study for the Rainy River project being realized; (10) &nbsp;in the case of all-in sustaining
cost outlook at the Rainy River Project, the assumed exchange rate being C$1.25/US$; and (11) conditions to the payment of the
remaining $75 million from Royal Gold being satisfied mid-2016.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">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 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 and the availability and management of capital
resources; additional funding requirements; price volatility in the spot and forward markets for metals and other commodities;
fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United States,
Australia and Mexico; discrepancies between actual and estimated production, between actual and estimated mineral reserves and
mineral resources and between actual and estimated metallurgical recoveries; changes in national and local government legislation
in Canada, the United States, Australia and Mexico 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 &nbsp;maintaining
the validity and enforceability of the necessary licenses and permits and complying with the permitting requirements of each jurisdiction
in which New Gold operates, including, but not limited to: in Canada, obtaining the necessary permits for the Rainy River project;
and in Mexico, where Cerro San Pedro has a history of ongoing legal challenges related to our environmental authorization; the
lack of certainty with respect to 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; the uncertainties inherent to current and future legal challenges
New Gold is or may become a party to; diminishing quantities or grades of reserves and resources; competition; loss of key employees;
rising costs of labour, supplies, fuel and equipment; actual results of current reclamation activities; uncertainties inherent
to mining economic studies including the feasibility study for Rainy River; 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;
unexpected delays and costs inherent to consulting and accommodating rights of First Nations and other Aboriginal groups; risks,
uncertainties and unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations
and complying with permitting requirements. In addition, there are risks and hazards associated with the business of mineral exploration,
development and mining, including environmental events and 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 &quot;Risk Factors&quot; included in New Gold's disclosure documents filed on and 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 news 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.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>TECHNICAL INFORMATION</B><BR>
The scientific and technical information in this news release has been reviewed and approved by Mark A. Petersen, Vice President,
Exploration of New Gold. Mr. Petersen is a SME Registered Member, an AIPG Certified Professional Geologist and a &quot;Qualified
Person&quot; as defined under National Instrument 43-101.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">For additional technical information on New Gold's material
properties, including a detailed breakdown of Mineral Reserves and Mineral Resources by category, as well as key assumptions, parameters
and risks, refer to New Gold's Annual Information Form for the year ended December 31, 2014.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0"><B>NON-GAAP MEASURES</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">(1) ALL-IN SUSTAINING COSTS<BR>
&quot;All-in sustaining costs&quot; per ounce is a non-GAAP financial measure. Consistent with guidance announced in 2013 by the
World Gold Council, an association of various gold mining companies from around the world of which New Gold is a member, New Gold
defines &quot;all-in sustaining costs&quot; per ounce as the sum of total cash costs, capital expenditures that are sustaining
in nature, corporate general and administrative costs, capitalized and expensed exploration that is sustaining in nature and environmental
reclamation costs, all divided by the ounces of gold sold to arrive at a per ounce figure. New Gold believes this non-GAAP financial
measure provides further transparency into costs associated with producing gold and assists analysts, investors and other stakeholders
of the company in assessing the company's operating performance, its ability to generate free cash flow from current operations
and its overall value. This data is furnished to provide additional information and is a non-GAAP financial measure. All-in sustaining
costs presented do not have a standardized meaning under IFRS and may not be comparable to similar measures presented by other
mining companies. It should not be considered in isolation or as a substitute for measures of performance prepared in accordance
with IFRS and is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under IFRS. Further
details regarding historical all-in sustaining costs and a reconciliation to the nearest IFRS measures are provided below and in
the MD&amp;A accompanying New Gold's financial statements filed from time to time on www.sedar.com.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">(2) ALL-IN SUSTAINING COST MARGIN<BR>
&quot;All-in sustaining cost margin&quot; per ounce is a non-GAAP financial measure with no standard meaning under IFRS, which
management uses to evaluate the Company's aggregated and mine-by-mine approximate contribution to cash flow after deducting sustaining
capital expenditures.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">SOURCE New Gold Inc.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">%CIK: 0000800166</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0"><B>For further information:</B> Julie Taylor, Director, Corporate
Communications and Investor Relations, Direct: +1 (416) 324-6015, Email: info@newgold.com</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">CO: New Gold Inc.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 9.75pt 0">CNW 16:30e 08-MAR-16</P>



<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0"></P>

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