NewNorth announces results for the three months ended March 31, 2009

    CALGARY, May 29 /CNW/ - NewNorth Projects Ltd. (NNP - TSXV) today
announced its financial results for the three months ending March 31, 2009.
    Mr. Greg Herndier, President and Chief Executive Officer of NewNorth,
reports a net loss of $312,000. with a per share loss of $0.03 cents (basic
and diluted) for the first quarter of 2009.

    In the period:
    -  The Vista Village construction loan in the amount of $1,980,509.82 was
       paid out in the period.

    -  A loan in the amount of $594,687.52 on land in Paramount Estates,
       Cochrane, AB., was retired in January of 2009.

    NewNorth is an integrated land and building development Corporation
operating in Alberta and the Northwest Territories.

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

    The contents of this release have not been approved or disapproved by any
    securities authority or stock exchanges.

For further information:

For further information: Mr. Greg N. Herndier, Chief Executive Officer,
at (403) 531-0280

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