New Gold Announces Board and Management Appointments

    VANCOUVER, July 10 /CNW/ - New Gold Inc. ("New Gold") (TSX and AMEX -
NGD) is pleased to announce it held its first Board of Directors meeting
following completion of the business combination of New Gold, Peak Gold Ltd.
and Metallica Resources Inc. on July 8. At that meeting, Mr. James Estey was
appointed as a Director and new management was appointed.
    "We are very pleased that James Estey has decided to join our seasoned
Board of Directors. His experience and knowledge of the financial markets will
be valuable to New Gold," said Robert Gallagher, President and Chief Executive
    Mr. Estey has recently retired as Chairman of UBS Securities Canada Inc.
and has more than 30 years of experience in the financial markets. Mr. Estey
joined Alfred Bunting and Company as an institutional equity salesperson in
1980 after working at A.E. Ames & Co. for seven years. In 1994, Mr. Estey
became the head of the Canadian Equities business, and in 2002 he was
appointed President and CEO of UBS Securities Canada. In January 2008 he
assumed the role of Chairman. Mr. Estey also serves on the boards of Calvalley
Petroleum Inc., Pure Trading and Range Royalty. He also serves on the boards
of The Estey Centre for Law and Economics in International Trade, The National
Ballet School and St. Clements School.
    The New Gold Board of Directors is now comprised of Craig Nelsen,
Clifford Davis, Ian Telfer, Pierre Lassonde, Paul Sweeney, James Estey and
Robert Gallagher.
    New Gold has also appointed John Marshall as Vice President, Human
Resources. Mr. Marshall has over 20 years experience in human resources
spanning the energy, semiconductor and banking industries. He was previously
the Director of Worldwide HR Operations for PMC-Sierra Inc. where he managed
human resources operations for employees in over 10 countries.
    The New Gold Vancouver based management team is now comprised of Robert
Gallagher, President and Chief Executive Officer, Basil Huxham, Executive Vice
President and Chief Financial Officer, John Marshall, Vice President Human
Resources; Mélanie Hennessey, Vice President Investor Relations and Susan
Toews, Corporate Secretary.
    Management is excited at the prospects for this new intermediate gold
mining company and is looking forward to creating further value for
shareholders by focussing on three strategies: (1) routine delivery on our
operational targets; (2) execution of our internal growth projects which are
the development of the New Afton mine and the analysis of processing
alternatives at the Amapari mine; and (3) continued external growth through
consolidation of operations in the junior mining sector.
    For further information on New Gold, please visit our new website at


    Certain information contained in the press release, including any
information as to New Gold's future financial or operating performance, may be
deemed "forward looking". All statements in this press release, other than
statements of historical fact, that address events or developments that New
Gold expects to occur, are "forward-looking statements". Forward-looking
statements are statements that are not historical facts and are generally, but
not always, identified by the words "express", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" "budget" and
similar expressions, or that events or conditions "will", "would", "may",
"could", or "should" occur. All such forward-looking statements are subject to
important risk factors and uncertainties, many of which are beyond New Gold'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'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: anticipated synergies
from the business combination may not be realized, there may be difficulties
in integrating the operations and personnel of New Gold, Peak Gold and
Metallica, New Gold is subject to significant capital requirements associated
with its expanded operations and portfolio of development projects since
completion of the business combination, fluctuations in the international
currency markets and in the rates of exchange of the currencies of Canada, the
United States of America, Australia, 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, Mexico, Chile and
Australia 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 necessary licenses and permits; 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). 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 intent 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.

For further information:

For further information: Mélanie Hennessey, Vice President Investor
Relations, New Gold Inc., Direct: (604) 639-0022, Toll-free: 1-888-315-9715,
Email:, Website:

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890