BOCA RATON, FL — (Marketwire) — 10/17/11 — New World Gold Corporation (PINKSHEETS: NWGC) is pleased to announce that it continues to market its mill in Peru to process ore from other gold producers in the area. As a result of the upgrades just completed on its mill, the Company has the capacity to process additional ore from other producers in the area. The Company, based on the upgrades to the mill and the demand for milling capacity from local producers, expects to increase capacity of the Peru mill to 100 tons per day with a head grade of 1.0 ozs ( 31 gms) of gold per ton by February 2012.
New World Gold Corporation has two producing mills. It does not depend on other companies to process its ore. The Company also processes other companies- ore which generates a secondary cash flow. As the Company increases the capacity of its mills, it will continue to increase the amount of ore that it processes for other companies.
The Company has proven developed producing reserves and proven reserves. The Company continues to increase its proven reserves through acquisitions. The Company-s corporate strategy involves a long term, result orientated approach to the exploration and development of gold reserves in politically stable environments.
New World Gold Corporation trades in the United States on the NQB Pink Sheets under the symbol „NWGC.“ For further information, please contact the Company at (561) 210 8496 or at .
NOTE: This release includes „forward-looking statements“ within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Certain statements in this press release are „forward-looking statements“ within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions and factors described in independent reports, company reports and other filings with regulatory bodies.
New World Gold Corporation (561) 210 8496
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