New Guinea Gold Rejects Meeting Requisition

    
    Trading Symbols: TSX-V: NGG
    Frankfurt: NG8.FSE
    Web Site: www.newguineagold.ca
    

VANCOUVER , Nov. 5 /CNW/ - Further to its press release of October 19, 2009 , New Guinea Gold Corporation (TSX-V:NGG) ("the Company") announces that, based on the advice of special counsel, the Company's Board of Directors have determined that the recent demand made by dissident shareholders for the calling of a general meeting of the Company is invalid, in that the requisition notice does not satisfy the mandatory requirements of section 167 of the Business Corporations Act (British Columbia) ("Act"). Accordingly, the dissidents' representatives have today been advised by the Company that the Board will not be calling a shareholders meeting in response to the requisition.

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of NGG, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

    
    ON BEHALF OF THE BOARD

    "R.D.McNeil"
    CHAIRMAN & CEO
    

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information: contact Forbes West toll free at 1-888-655-5532, email [email protected] or Judith O'Quinn at [phone], email [email protected] or access our website - www.newguineagold.ca