new guinea gold corporation in which macmin..

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i found that NEWS to MMN and NGG !!!!!




MACMIN SILVER LTD
(A.B.N. 53 056 776 160)
P.O. Box 7996 Telephone: (07) 5592 2274
Gold Coast Mail Centre Facsimile: (07) 5592 2275
Queensland 9726 Email: [email protected]
AUSTRALIA Internet: www.macmin.com.au
13th June 2008
ASX Limited

[u]Company Announcements Office
ASSOCIATE COMPANY:[/u]

[green]NEW GUINEA GOLD CORPORATION
ANNOUNCES INFERRED MINERAL RESOURCE FOR ITS IMWAUNA PROJECT
OF 1.8MT AT 12.2G/T GOLD AND 20G/T SILVER FOR CONTAINED METAL OF 706,000OZS GOLD AND 1,160,000OZS SILVER[/green]
New Guinea Gold Corporation, in which Macmin Silver Ltd holds approximately 18 million shares, issued the following press release in Canada on 12 June 2008.

Yours faithfully
R.D. MCNEIL
CEO/CHAIRMAN

The information in the report to which this statement is attached that related to Exploration Results, Mineral Resources or Ore
Reserves is based on information compiled by Robert McNeil, who is a Fellow of the Australasian Institute of Mining and
Metallurgy. Robert McNeil is employed by Macmin Silver Ltd. Robert McNeil has sufficient experience which is relevant to the
style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent
Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore
Reserves’. Robert McNeil consents to the inclusion in the report of the matters based on his information in the form and context in
which it appears.
Kc/rdm009.08

Head Office: Australia:
Suite 422-470 Granville Street P.O. Box 7996
Vancouver, B.C., Canada, V6C1V5 Gold Coast Mail Centre, Qld 9726
Phone: +1 604.662.3598 Phone: +61(7)5592.2274
Fax: +1 604.669.6257 Fax: +61(7)5592.2275
Email: [email protected] Email: [email protected]
Trading Symbols: TSX-V: NGG
Frankfurt: NG8
Web Site: [url]www.newguineagold.ca[/url]
Page 2 of 8
12th June 2008

PRESS RELEASE
[b]NEW GUINEA GOLD ANNOUNCES INFERRED MINERAL RESOURCE
AT 100% OWNED IMWAUNA PROJECT[/b]
Highlights

An Inferred Mineral Resource of 1.8 million tonnes at 12.2 g/t gold and 20 g/t silver for contained metal of 706,000 ozs gold and [green][b]1,160,000 ozs silver[/b][/green] has been estimated for the Imwauna Project, Normanby Property, Papua New Guinea

• Resource is open along strike and to depth; defined over a strike length of 1,500m to date and to depths below surface varying from 50 to 150 meters.

• Resource commences at surface; has been defined by numerous excavator trenches and 137 drill holes. Drilling is continuing with two diamond core rigs.

• As indicated and illustrated in our Press Release dated 23 April 2008, drill target areas have been defined at depth below the limit of present drill holes. These areas will be explored in the near future.

• Potential for bonanza zones is suggested by trench bulk samples such as 82kgs averaging 424g/t gold and 63kgs averaging 70g/t gold, supported by drill results such as 3m at 109g/t gold; 5.6m at 36g/t gold and 0.4m at 438g/t gold.

• Deposit is within 3 to 4kms of the Coast of Normanby Island with relatively good access.

• A Technical Report in compliance with the requirements of NI 43-101 on the Imwauna Project is being prepared by Independent Geological Consulting firm, Project Geoscience Pty Ltd (PG) and will be filed on SEDAR within 45 days. PG has read and reviewed this Press Release and consents to its disclosure.


Chairman and CEO of New Guinea Gold Corporation (NGG) Bob McNeil commented: [b]“We are pleased to report this initial NI 43-101 compliant resource which represents an important first
step in the exploration and possible future development of this core New Guinea Gold project.
At the present time we have two rigs, a 14t excavator and D6 bulldozer working on the property, and we plan to add a third drill rig later this year. The results of exploration to date are very
exciting, particularly the high grade bonanza zones. The results continue to expand our knowledge of this large gold system.”[/b]

Page 3 of 8

The Imwauna Project is a part of an 8 to 10 sq km gold mineralised area as defined by gold in geochemistry and trenching (see map in Press Release dated 23 April 2008). Mineralisation varies from quartz hosted gold mineralisation, often of high grades at Imwauna itself to disseminated gold mineralisation associated with Recent/Pleistocene volcanics at the Knob Prospect (3 to 4 kilometers north of the Resource area, near the Coast – for map location see Press Release dated 23 April 2008).

Only a small part of this large prospective area has been
tested by drill holes and the PG notes that there is potential to locate additional resources at other nearby gold prospects in addition to at depth and along strike at Imwauna.
The mineralisation at Imwauna is low sulphidation, epithermal mineralisation, and consists of multiple, steeply dipping quartz veins, from a few mms width to 10m width with the main
Imwauna vein defined to date averaging of the order of 1m, with relatively high gold grades and often visible gold.

Average width of all veining within the mineral resource estimate is approximately 2.1meters. The mineralisation has been defined by drilling over a strike length of 1,500m, is open both to the north and south and to depth. The drilled depth extent of the
mineralisation varies from 50 to 150m below surface.

History and Exploration completed NGG has been actively exploring at its Normanby Property and Imwauna Project since 1996,
initially in Joint Venture with Macmin Silver Ltd and since 2002 as the sole owner of the property.

[u][u]Macmin Silver retains a 1% NSR royalty on any production from the property.[/u] Exploration completed at the Imwauna Project as at the date of this Release (not including exploration elsewhere on the Normanby Property) includes:[/u]

• Approximately 150 drill holes (including 18 drilled prior to acquisition in 1991/1992 by Ingold Holdings Pty Ltd, a subsidiary of Inco).

• Over 250 excavator trenches to depths of 2 to 4 meters.

• Geochemical sampling - stream, soil and rock chip, over approximately 15sq kms.

• Airborne magnetic and radiometric geophysical surveys.

• AIRSAR (airborne radar) survey.

• CSAMT (controlled source audio – magnetic telluride) ground geophysical survey to define possible gold bearing quartz zones such as the main Imwauna Zone.

• Trial mining pit or slot to study mineralisation characteristics, possible open pit mining techniques and to collect a 30t bulk sample for grade comparison purposes.

• Preliminary bottle roll and column cyanide leach metallurgical testing.

• Mineragraphic and petrographic studies.

• Bulk sampling (over two tonnes of samples) from trenches to check gold grades and reproducibility of assays.
Bob McNeil CEO and Chairman commented: “the above exploration has been previously reported in Press Releases and is described fully in the NI 43-101 report to be filed on SEDAR. It confirms the presence of gold mineralisation over the 8 to 10 sq km area and suggests that only a small part of that area has been intensively explored to date. With further drilling it is likely that additional resources will be defined. The metallurgical testing showed that the gold in Page 4 of 8 surface mineralisation can be easily extracted by cyanide leach with 90% to 95% recovery
reported. [b]Visible gold in some samples suggests that some of the gold may be recoverable by simple gravity treatment[/b]. No testwork has yet been undertaken on gravity extraction”.
Mineral Resource Estimate The mineral resource estimate is dated 11th June 2008 and was prepared in accordance with NI
43-101 guidelines by the NGG technical team in consultation with Independent geological consulting firm, Project Geoscience Pty Ltd (PG). PG has monitored the project for the past two years and In PG’s opinion the data and results fairly and accurately support the disclosure of the mineral resource estimate of the Imwauna Project.. In PG’s opinion the mineral resource model and estimation conform to NI 43-101 guidelines. PG has reviewed this release and grand their permission to release the data and resource estimate in this Press Release.
In PG’s opinion the exploration completed to date confirms the resource as Inferred but with additional exploration and data compilation, the resource may be upgraded to Indicated and/or Measured.
The resource is based on 137 drill holes drilled on nominal 50m by 25m spacings but with some spacings as close as 12.5m by 25m, or at the strike extremities of the resource, at 100m by 50m spacings (see Figures 1 and 2 in Press Release dated 23 April 2008 for drill location plans)
All drill assay results from the Imwauna Project, with location co-ordinates, up until the resource cut off at hole IMD 122 are shown in Table 1.
Modeling and resource estimation was carried out using Surpac Vision software by NGG VP Exploration Jack Drzymulski, QP, in consultation with Independent QP Ralph Stagg M.Sc, DIC,
F AusIMM, MIMMM QP of Project Geoscience. Cross-sectional interpretations were used to create a 3D wireframe model from which a block model was developed.

Gold and silver grades were estimated using an inverse distance to the power of three interpolations with an isotropic search radius of 125m. The block model has cell dimensions of 10m x 1m x 2m (northing, easting and elevation respectively) and its orientation is sub-parallel to the overall orientation of the main vein. The informing data was 1m vein composites of the main and east veins only.

Variography was tested but no reasonable correlations were found. Interpolation parameters were bearing 012º, plunge -5º and dip -80º to the east.
All drill hole co-ordinates and levels, and a contour plan were prepared from ground surveys.
The Bulk Density used in the resource estimate was 2.65.
Selective check sampling, bulk sampling, and assay standards show reasonable reproducibility and correlation with original results as expected from high grade vein gold deposits. PG has
verified the data disclosed including sampling, analytical and test data. PG has also verified the sources of data and in PG’s opinion the satisfactory replication of data in a number of verification programs by different entities confirms the overall reliability of the data set.

All presently required environmental permits are in place and NGG holds current title to the mineral resource area under Exploration License 1091, Normanby, granted by the Papua New Guinea Government. The mineral resource estimate is not known to be materially affected by any environmental, legal, title, taxation, socio-political, marketing or other relevant issues except
as may be required from time to time by the Papua New Guinea Mining, Environmental and Taxation Acts.

Drill core is currently logged and split (all by diamond saw) on site with half core being dispatched to, and
assayed by accredited laboratory ALS–Chemex in Townsville, Australia. In house and laboratory standards are used for quality control plus regular check sample assaying. Trench samples are usually continuous channel samples, in lengths dependent on geology or in one or two metre intersects. Some samples were panel samples over a face of mineralisation or bulk samples. Usually about 3kg is
collected and prepared and assayed at ALS – Chemex in Townsville, Australia.
Page 5 of 8

Other Information The Normanby Property has been the subject of three earlier Independent Technical Reports on behalf of NGG, in 1996, 1998, and 2002 by Peter Christopher, PhD, P.Eng of Peter Christopher & Associates. The report in 2002 was compliant with NI 43-101 guidelines, is filed on Sedar and at [url]www.newguineagold.ca[/url].

New Guinea Gold is the premier junior explorer and miner in Papua New Guinea, with interests in ten gold and two porphyry copper-gold-molybdenum properties. With 75,000 + metres of
drilling completed, extensive gold or copper-gold-molybdenum mineralisation has been discovered at 11 of the properties while the 12th contains widespread and extensive alluvial gold. The Company’s outstanding shares are traded on the TSX-Venture, Frankfurt, and Berlin Stock Exchanges.

In addition to the Imwauna Project the Company has commenced gold production at its Sinivit Gold Mine, in East New Britain, Papua New Guinea. [b]The Company also owns an approximate direct 46% interest in Australian Securities Exchange listed company, Coppermoly Ltd and 30% in Pacific Kanon Gold Corporation which is intended to list on the TSX-V in the near future.[/b]

Full details of the Sinivit Project are described in an Independent N1 43-101 report dated January 2006 which is available at [url]www.newguineagold.ca [/url].

The information in this release was prepared under the direction of Robert D. McNeil (F Aus IMM) a “qualified person” as defined by National Instrument 43-101. NGG follows a rigorous QA/QC protocol on all of its exploration projects.

This news release may contain forward-looking statements, which are subject to certain risks, uncertainties and assumptions. A number of factors could cause actual results to differ materially from
the results discussed in such statements, and there is no assurance that actual results will be consistent with them. Such orward-looking statements are made as at the date of this news release, and the company assumes no obligation to update or revise them, either publicly or otherwise, to reflect new
events, information or circumstances, except as may be required under applicable securities law.

For further information on this release or on other NGG projects such as the Sinivit Gold Mine,

contact Forbes West toll free at 888 655 5532, email [email protected] or Judith
O’Quinn at 604 662 3598, email [email protected] or access our website – www.newguineagold.ca
ON BEHALF OF THE BOARD
“R.D.McNeil”
CHAIRMAN & CEO

The TSX Venture Exchange has not reviewed and does not accept the responsibility of the adequacy of this release. The
statements made in this News Release may contain certain forward-looking statements. Actual events or results may differ from the Company’s expectations. Certain risk factors may also affect the actual results achieved by the Company.

[url]ngg/rel/imwaunainferredmineralresource15june’08[/url]
Page 6 of 8
[b]Summary Assay Results Used in Resource Estimate

you can read here!!!!!!!!![/b]

[url]http://stocknessmonster.com/news-history?S=MMN&E=ASX[/url]
Hole No Northing Easting EOH Azi Dip From To Interval Au Ag
(amg) (amg) (m) (mag) (deg) (m) (m) (m) g/t ppm