======================================================================
Re: News Release - Thursday, May 08, 2008
Noteholders Extraordinary Resolution Passed - Meeting Cancelled
======================================================================

May 8, 2008, Toronto, Ontario - New Gold Inc. (the "Company" or "New
Gold") (NGD: TSX/AMEX) is pleased to announce that the Extraordinary
Resolution amending certain provisions of the Note Indenture dated as
of June 27, 2007, as described in its release of April 25, 2008, has
been approved by written resolution of holders of more than 66 2/3% of
the principal amount of the Notes. Accordingly, the meeting of
Noteholders scheduled for May 9, 2008 has been cancelled.

The amendments were required to enable New Gold to proceed with the
proposed business combination (the "Transaction") announced on March
31, 2008 by which the Company, Metallica Resources Inc. and Peak Gold
Ltd. will combine under the name New Gold Inc. with a market
capitalization of approximately U.S. $1.6 billion. The Extraordinary
Resolution will be effective only upon completion of the Transaction
and if the Transaction does not proceed the Extraordinary Resolution
will be of no effect.


For more information contact:

Mr Cliff Davis, President and Chief Executive Officer
or Ms. Laura Sandilands, Manager of Investor Relations
New Gold Inc.
70 University Avenue
Toronto, Ontario
M5J 2M4

Phone: (416) 977-1067
Toll free: (877) 977-1067

Associated File:
http://www.newgoldinc.com/i/pdf/05-08-08_Noteholders-Resolution-Passes.pdf
62 KB in size, approx. 13 seconds to download at 56.6Kbps

======================================================================
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 Thu May 8, 2008 at 9:53:29 AM Pacific Time
======================================================================
.