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Re: News Release - Monday, March 24, 2008
New Gold Inc. and Kamloops Division sign Participation Agreement
with respect to New Afton Project
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March 24, 2008, Kamloops, British Columbia -- New Gold Inc.
(TSX:NGD)(AMEX:NGD) and the Kamloops Division of the Secwepemc Nation,
comprising the Kamloops Indian Band and the Skeetchestn Indian Band,
jointly announce that they have signed a Participation Agreement
relating to New Gold's New Afton Project. The purpose of the
Participation Agreement is to establish a co-operative and mutually
beneficial relationship between the First Nations and the Company with
respect to the Project and provide a long-term framework for
communication, collaboration and cooperation. The Agreement will
provide the Kamloops Division with economic opportunities and social
and financial benefits, including employment, education, training and
business opportunities. The Agreement secures the consent of the
Kamloops Division to the Project and its support through all project
phases.
In making the announcement Mr. Cliff Davis, President and CEO of New
Gold, commented: "We believe that the agreement we have signed with the
Kamloops Division is a milestone in the development of the New Afton
project and presents an unique opportunity for the Company and the
Kamloops Division to work together to ensure that the Project is
developed in an environmentally and culturally sustainable manner,
recognizing the value that the First Nations place on the cultural,
spiritual and historic heritage of the land." Chief Ron Ignace of the
Skeetchestn Indian Band said "These were tough negotiations for all
parties, but now we have an economic alliance that will help both the
Kamloops Division and New Gold to be successful." Chief Shane
Gottfriedson of the Kamloops Indian Band, stated: "We believe that we
have a deal with the Company that will bring real long-term economic
benefits to our communities and the Company as well." Both Chiefs
expressed the hope that the New Gold agreement will send a positive
signal to the provincial government that the province also should seek
an agreement with the Kamloops Division, one that would reconcile
aboriginal interests with those of the Crown.
For more information from the Company, contact:
Mr Cliff Davis,
President and Chief Executive Officer
New Gold Inc.
70 University Avenue
Toronto, Ontario
M5J 2M4
(416) 977-1067
For more information from the Kamloops Indian Band contact:
Chief Shane Gottfriedson
Kamloops Indian Band
200-355 Yellowhead Hwy
Kamloops, British Columbia V2H 1H1
(250) 318-8527 or
(250) 828-9700
For more information from the Skeetchestn Band contact:
Chief Ron Ignace,
Skeetchestn Indian Band
PO Box 178
Savona, British Columbia
V0K 2J0
(250) 851-6757 or
(866) 373-2493
Associated File:
http://www.newgoldinc.com/i/pdf/03-24-08_Press-Release.pdf
54 KB in size, approx. 11 seconds to download at 56.6Kbps
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Copyright (c) 2008 NEW GOLD INC. (TSX/AMEX:NGD) All rights reserved.
For more information visit our website at http://www.newgoldinc.com/ or
send mailto:invest@newgoldinc.com
Message sent on Mon Mar 24, 2008 at 6:26:36 AM Pacific Time
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