Day: May 4, 2011

New Gold Announces 2011 First Quarter Gold Production of 107,622 Ounces at Record Low Cash Cost of $352 Per Ounce

VANCOUVER, May 4 /PRNewswire/ – New Gold Inc. (“New Gold”) (TSX: NGD)(NYSE AMEX: NGD) today announces financial and operational results for the first quarter of 2011, where the company combined increased gold production with the lowest total quarterly cash cost(1) in New Gold’s history. The company finished the first quarter with gold sales of 104,211 ounces at a total cash cost(1) per ounce sold, net of by-product sales, of $352 per ounce. The combination of growing gold production, significantly lower total cash cost(1) and continued strength in commodity prices resulted in solid financial results. During the quarter, earnings from mine operations increased by 119% to $80 million, net earnings increased by 85% to $25 million, or $0.06 per share, and cash flow from operations increased by 120% to $51 million.

Grayd Appoints Troy Fierro to the Board of Directors

Vancouver, BC, May 4, 2011 – Grayd Resource Corporation (TSX V: GYD) (“Grayd”) is pleased to announce the appointment of Troy J. Fierro to the board of directors. Mr. Fierro is a successful mining engineer with over 25 years of industry experience. He has previously held executive positions with Fronteer Development Group Inc., Metallica Resources Inc., and Coeur d’Alene Mines where he has overseen the development, construction or management of mines in Nevada, Mexico, Argentina, Chile, and Alaska.

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