New Dawn Reports Financial Results for the Quarter Ended June 30, 2011

Record Quarterly Revenues and Gold Production

Net income of $0.02 per share for the quarter ended June 30, 2011, as

compared to a loss of $0.00 per share for the quarter ended June 30, 2010

Q3 FISCAL 2011 - QUARTER ENDED JUNE 30, 2011 HIGHLIGHTS

(All amounts are in US dollars)

• Record consolidated gold sales of US$9.79 million for the quarter ended June 30, 2011, as compared to consolidated gold sales of US$3.55 million for the quarter ended June 30, 2010

• 176% increase in consolidated gold sales for the quarter ended June 30, 2011, as compared to the quarter ended June 30, 2010

• 111% increase in consolidated gold production for the quarter ended June 30, 2011, as compared to the quarter ended June 30, 2010

• Net income of US$852,301 for the quarter ended June 30, 2011, as compared to a net loss of US$150,969 for the quarter ended June 30, 2010

• Adjusted EBITDA of US$2,060,512 for the quarter ended June 30, 2011, as compared to Adjusted EBITDA of US$380,702 for the quarter ended June 30, 2010, an increase of 441%

Toronto, Ontario, August 11, 2011 - New Dawn Mining Corp. (TSX: ND) ("New Dawn" or the "Company") announced that its financial results and corresponding Management's Discussion and Analysis for the quarter ended June 30, 2011 have now been filed on SEDAR and are also available to view on the Company's website at www.newdawnmining.com.

The Company prepares its consolidated financial statements in U.S. Dollars and in accordance with Canadian Generally Accepted Accounting Principles.

New Dawn acquired an 88.7% controlling interest in Central African Gold ("CAG") effective June 16, 2010, as a result of which New Dawn has consolidated the operations of CAG for accounting purposes since that date. Subsequently, New Dawn increased its ownership interest in CAG from the initial 88.7% at June 16, 2010 to 100% by early June 2011. Accordingly, at June 30, 2011, CAG was a wholly-owned subsidiary of New Dawn.

Q3 FISCAL 2011 - QUARTER ENDED JUNE 30, 2011 HIGHLIGHTS

Selected unaudited quarterly financial information is presented below.

(1)     Cash costs per ounce, revenue per ounce, and Adjusted EBITDA and Attributable measures are non-GAAP measures and are more fully described in the discussion at the end of Management's Discussion and Analysis entitled "Non-GAAP Measures". The calculation of cash costs per ounce has been modified as discussed under "Non-GAAP Measures".

(2)     Revenue per ounce is calculated by dividing the revenue by the ounces of gold sold..

(3)     Cash costs during the quarter ended June 30, 2011 were adversely affected by various operating issues, including certain anomalous issues at Turk Mine (see discussion below at "CASH COSTS").

GOLD SALES

Consolidated gold sales for the quarter ended June 30, 2011 totalled US$9,791,973 (US$9,197,031 after adjusting for the minority interests' share of gold sales from the Central African Gold properties) at an average sales price per ounce of gold of US$1,516, as compared to consolidated gold sales of US$3,549,786 (US$3,549,786 attributable) for the quarter ended June 30, 2010 at an average sales price per ounce of gold of US$1,194, an increase of 176% (159% increase on an attributable basis).

As compared to consolidated gold sales for the previous quarter ended March 31, 2011 of US$7,983,223 (US$7,510,160 attributable), consolidated gold sales for the quarter ended June 30, 2011 increased by 22.7% (22.5% increase on an attributable basis).

100% of sale proceeds were received in US dollars.

At June 30, 2011, included in inventories was an additional 1,847 ounces of gold awaiting sale, all of which will be included in July 2011 sales.

GOLD PRODUCTION

Gold production reached record levels as New Dawn reported consolidated gold production of 6,841 ounces of gold produced (6,355 ounces attributable to New Dawn, after adjusting for the minority interests' share of gold production from the Central African Gold properties) for the quarter ended June 30, 2011, as compared to 3,243 ounces of gold produced (3,243 ounces attributable) for the quarter ended June 30, 2010, an increase of 111% (96% increase on an attributable basis).

As compared to the consolidated production output for the previous quarter ended March 31, 2011 of 6,226 ounces of gold produced (5,854 ounces attributable),consolidated gold production for the quarter ended June 30, 2011 increased by 9.9% (8.6% increase on an attributable basis).

The increase in gold production was a result of greater tonnage mined and processed at the Central African Gold properties. During the quarter ended June 30, 2011, production output increased at both Dalny and Old Nic Mines, and was augmented by the output from Golden Quarry Mine, which started production in May 2011. Collectively, these mines contributed 3,453 ounces (2,967 ounces attributable) to New Dawn's total production output for the quarter ended June 30, 2011.. The Dalny, Old Nic and Golden Quarry Mines are expected to contribute an increasing proportion of New Dawn's consolidated gold production in future periods.

Consolidated gold production for the quarter ended June 30, 2011 increased to an annualized run rate of approximately 27,000 ounces, confirming that the 38,000 to 40,000 ounces of annualized gold production by December 2011 is an achievable target.

CASH COSTS

Average cash costs per ounce of gold produced are determined, in part, by the decision with respect to the appropriate cut-off grades for each mine, which requires management to balance the objectives of both efficient mine operation and meeting revenue and cash flow targets, with the objective to maintain or improve the operating gross margin. Grade, tonnage and production costs are evaluated in this process, both on an individual basis and on their collective impact on other operating metrics. Management periodically reviews and reassesses this operating metric and revises its plans accordingly.

Operating results at Turk Mine during the quarter ended June 30, 2011 were negatively impacted by a reduction in the cut-off grade implemented early in the quarter in conjunction with a modified and updated mine plan, which was subsequently increased later in the quarter. As a result of these issues, production at Turk Mine during the quarter ended June 30, 2011 was reduced by 638 ounces or 16%, as compared to the quarter ended March 31, 2011, with higher than normal cash costs per ounce. Because Turk Mine represented almost 50% of the gold produced by the Company for the quarter ended June 30, 2011, the effect of these difficulties had a disproportionate effect on average cash costs per ounce during the period. These issues have been corrected, and production at Turk Mine returned to normal levels at June 30, 2011.

Both the Dalny and Old Nic Mines significantly improved their production output during the quarter ended June 30, 2011, in part as a result of their refurbished and updated mining facilities.  Although Old Nic Mine incurred a reduction in cash costs during the quarter, cash costs at Dalny Mine increased during the quarter as a result of the resumption of underground operations. Cash costs at Dalny Mine are expected to normalize at lower levels as underground mining progresses.  

Production at Dalny and Old Nic Mines was augmented by the resumption of operations at Golden Quarry Mine in May 2011, which also had an impact on cash costs per ounce during the quarter ended June 30, 2011, as the resumption of operations resulted in operating inefficiencies upon start-up that normalize over time.

Cash costs were also negatively impacted during the quarter ended June 30, 2011 by a 21% increase in power costs and by seven public holidays.

As a result of the aforementioned factors, average cash costs per ounce of gold produced for all mines were US$1,024 per ounce for the quarter ended June 30, 2011, as compared to US$799 for the quarter ended March 31, 2011, and US$821 for the quarter ended December 31, 2010.

NET INCOME AND ADJUSTED EBITDA

For the quarter ended June 30, 2011, New Dawn reported consolidated net income of US$852,301, as compared a consolidated net loss of US$150,969 for the quarter ended June 30, 2010.

For the quarter ended June 30, 2011, New Dawn reported Adjusted EBITDA of US$2,060,512, as compared Adjusted EBITDA of US$380,702 for the quarter ended June 30, 2010.

With record gold sales and production levels, both net income and Adjusted EBITDA improved on a period to period comparison.

Management anticipates a reduction in corporate overhead costs in future periods to more normalized levels, as the CAG restructuring, which is nearing finalization, will allow for significant cost reductions. Management also expects that mining and processing operations should reflect increasing efficiencies from economies of scale as production levels increase.

ASSETS AND LIABILITIES

The Company's working capital (current assets minus current liabilities) at June 30, 2011 amounted to $5,290,513, as compared to $1,289,330 at September 30, 2010. The increase in working capital was mainly attributable to the November 2010 equity financing which generated net proceeds of $7,436,372. Also impacting the Company's working capital was a short-term loan arranged in May 2011, the proceeds of which have been utilized to fund the continuing development of the Company's mining operations and capital infrastructure, in particular, deposits towards the installation of an ultra fine grind mill and other capital projects.

At June 30, 2011, the Company has no funded long-term debt obligations.

At June 30, 2011, the Company has other non-current liabilities of $14,529,040, as compared to $11,639,705 at September 30, 2010. These non-current liabilities consist of future income tax liability and mine reclamation and closure costs obligation. The increase in the future income tax liability relates to the acquisition of the assets held by CAG and its subsidiaries that have been valued at fair value as at the date of the acquisition in June 2010 in accordance with accounting requirements. The future income tax liability will become payable when the Company's ongoing investment in property, plant and equipment decreases such that depreciation expense exceeds the amount deductible for income tax purposes. Based on current operating plans, the Company does not anticipate that any of this amount will become payable in the foreseeable future.. The mine reclamation and closure costs obligation, also known as asset retirement obligation, is the charge to date that operations have borne in respect of the estimated cost of rehabilitating mining sites in the future when the mines ultimately cease operations. As the estimated mine life for the Company's various mines ranges from 12 to 30 years, management does not anticipate that this liability will require any significant cash outflows for the next several years.

INDIGENISATION

As previously reported, the Zimbabwe Government is in the process of implementing an indigenisation policy wherein all domestic businesses are to be 51% owned by indigenous Zimbabweans. New Dawn's Zimbabwe operating subsidiaries, Casmyn Mining Zimbabwe (Private) Limited, Falcon Gold Zimbabwe Limited and Olympus Gold Mines Limited, are all non-indigenous companies for the purposes of the Indigenisation and Economic Empowerment Act that was signed into law on March 9, 2008, and the related Regulations that were gazetted as Statutory Instrument 21 of 2010 issued on January 29, 2010. A general Notice issued on March 25, 2011 stipulated that each non-indigenous mining company must submit an indigenisation implementation plan by May 9, 2011 and dispose of 51%, less any percentage previously indigenised to qualified indigenous Zimbabwean companies or investors, of its shares to a "designated entity" by September 25, 2011, which may, in certain circumstances, be extended by a further period of no more than three months.

New Dawn believes that its Indigenisation Plan (the "Plan"), filed in late April 2011 and amended in June 2011, addresses the requirements of the legislation and includes a number of appropriate initiatives to meet the 51% indigenous Zimbabwean shareholder requirement.

There is currently substantial uncertainty surrounding the implementation of the indigenisation legislation and the potential impact on the Company. There can be no assurance that the Company will be successful in its effort to comply with the indigenisation legislation. Accordingly, if the Company is unable to obtain approval of the Government of Zimbabwe for its Plan (or amend the Plan in a commercially reasonable manner that is satisfactory to the Government of Zimbabwe), the Company could be required to transfer 51% of each of its Zimbabwe subsidiaries to a "designated entity" with payment uncertain, which would raise significant implications as to the Company's ability to continue to conduct its operations in Zimbabwe, as well as to obtain the funding necessary to continue to implement its current business plan.

Although management is of the opinion that the Plan meets the requirements of the legislation, there can be no assurances that it will be accepted by the Minister of Youth Development, Indigenisation and Empowerment. Confidential discussions with officials of the Ministry of Youth Development, Indigenisation and Empowerment and other representatives of the Government of Zimbabwe are ongoing. The Company will provide further information to shareholders as and when such discussions have been concluded, or when developments otherwise warrant.

Subject to successful acceptance by the Government of Zimbabwe and implementation of New Dawn's Plan (as may be modified by mutual agreement), the Company believes it would then have the additional working capital resources necessary to support its efforts to increase gold production to 100,000 ounces of gold on an annualized basis by the end of 2014.

ABOUT NEW DAWN

New Dawn is a Zimbabwe-focused junior gold company that is currently implementing its plan to expand its consolidated annualized gold production to 38,000 to 40,000 ounces by the end of 2011, and then to an expected 50,000 to 60,000 ounces by the end of 2012. New Dawn targets further increasing annualized gold production to 100,000 ounces by the end of 2014.  

New Dawn owns 100% of the Turk/Angelus Mine Complex, the Old Nic Mine and the Camperdown Project. In addition, New Dawn has an approximately 85% equity interest in the Dalny, Golden Quarry and Venice Mines, and a large portfolio of prospective exploration acreage in Zimbabwe. These six mines, four of which are now operational, are divided into three significant gold camps, and the Company is in the process of expanding production at these sites. All properties and exploration projects are located in Zimbabwe.

In addition to gold production, New Dawn is also actively exploring on highly prospective ground employing modern exploration techniques and deploying capital in Zimbabwe, a country that is proven to be geologically rich, highly prospective, and significantly under explored.

New Dawn, with its large gold resource, existing production facilities and current exploration efforts, is well on the path to becoming a mid-tier gold mining company in Zimbabwe, active in both gold production and gold exploration.

Information on New Dawn's gold reserve and resource estimates is included at the Company's website at www.newdawnmining.com or in the Company's filings on SEDAR at www.sedar.com.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.

The contents of this news release were supervised and reviewed by Ian R. Saunders, B.Sc., who is President, Chief Executive Officer, and a Director of New Dawn Mining Corp., and who is a Qualified Person within the meaning of NI 43-101..

FOR FURTHER INFORMATION

Investor Relations Contact: Richard Buzbuzian +1 416.585.7890

President and Chief Executive Officer: Ian R. Saunders +1 416.585.7890

Visit us on the internet: http://www.newdawnmining.com or

Email us at: info@newdawnmining.com

Special Note Regarding Forward-Looking Statements:Certain statements included or incorporated by reference in this news release, including information as to the future financial or operating performance of the Company, its subsidiaries and its projects, constitute forward-looking statements. The words "believe," "expect," "anticipate," "contemplate," "target," "plan," "intends," "continue," "budget," "estimate," "may," "schedule" and similar expressions identify forward-looking statements. Forward-looking statements include, among other things, statements regarding targets, estimates and assumptions in respect of gold production and prices, operating costs, results and capital expenditures, mineral reserves and mineral resources and anticipated grades and recovery rates. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors could cause the Company's actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Such factors include, among others, risks relating to reserve and resource estimates, gold prices, exploration, development and operating risks, political and foreign risk, indigenisation risk, uninsurable risks, competition, limited mining operations, production risks, environmental regulation and liability, government regulation, currency fluctuations, recent losses and write-downs and dependence on key employees. See "Risk Factors" in the Company's Annual Information Form - 2010. Due to risks and uncertainties, including the risks and uncertainties identified above, actual events may differ materially from current expectations. Investors are cautioned that forward-looking statements are not guarantees of future performance and, accordingly, investors are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty therein. Forward-looking statements are made as of the date of this press release and the Company disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or results or otherwise.