New Asia Gold Identifies Additional Gold Reserves
New Asia Gold Corp. announce that there is likely to be additional shallow gold reserves at two locations on the Kapur Project. These locations have not as yet had extensive drilling completed but have had some drilling completed that shows the presence of gold. In addition to the shallow gold reserves, examination of the existing exploration information available indicates that there is a very good possibility that there are large high grade feeder zones below the shallow gold reserves.
New Asia Gold Corp. is a successful exploration company that has found and defined proven gold reserves. Based on independent assessment reports (43101 F), the Company currently has proven gold reserves of 330,000 ounces of gold with a value of $282 million US assuming an average gold price of $850 US per ounce. The company has a further estimated probable reserves of 2.5 million ounces of gold. As the Company completes its drilling program this fall, it is anticipated that the proven reserves will be increased substantially as will the value of the company.
Analysts are projecting that the price per ounce of gold will increase substantially over the next 6 months. Performance in the financial markets from January 1, 1998 to close on October 20, 2008 show the following results:
Gold +171% Dow Jones +5%
Nasdaq +9%
In an uncertain economy, analysts project gold or gold stocks with proven reserves are the best choice for investors looking to keep their portfolio safe as the demand for safe havens increases.
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 go to http://www.newasiagold.com.
