New Asia Gold Corp. Hails Rush to Gold
New Asia Gold Corp. welcomes the rush to gold as investors seek a safe haven from the current financial turmoil. Based on independent assessment reports of its gold properties as of July 2008, the company reiterates that it currently has an estimated 330,000 ounces of proven gold reserves with a projected value of $219 million after recovery costs, based on a average price per ounce of $850. There remains significant potential to substantially increase these reserves through a shallow infill drilling program. The independent assessment report suggests that an additional 500,000 ounces of gold could be delineated in the main prospect area.
New Asia Gold Corp. trades in the United States on the NQB Pink Sheets under the symbol “NWAG”. For further information, please contact Nancy Goldman at (516) 962 4139 or at http://www.newasiagold.com.
