NGG

New Guinea Gold Corporation ("NGG" or the "Company") (TSX
VENTURE:NGG)(FRANKFURT:NG8) is providing this bi-weekly Default Status Report in
accordance with National Policy 12-203 - Cease Trade Orders for Continuous
Disclosure Defaults ("NP 12-203"). On April 24, 2012, the Company announced (the
"Default Notice") that, for the reasons disclosed in the Default Notice, there
would be a delay in the filing of its audited financial statements for the year
ended December 31, 2011 and its related Management's Discussion and Analysis and
Chief Executive Officer and Chief Financial Officer certifications for the year
ended December 31, 2011 (collectively, the "Required Filings") beyond the 120
day period prescribed for the filing of such documents. 


As a result of this delay in filing, on May 1, 2012, the British Columbia
Securities Commission (the "BCSC"), the principal regulator of the Company,
issued a management cease trade order (the "MCTO"), which imposed restrictions
on all trading in securities of the Company by the Chief Executive Officer and
the Chief Financial Officer of the Company until the Company files the Required
Filings and the BCSC makes an order revoking the MCTO. All other parties are
permitted to freely trade the Company's securities. 


The Company's auditors are completing the audit of the Company's financial
statements for the year ended December 31, 2011 and the Company continues to
expect to file the Required Filings on or before May 30, 2012. Until the
Required Filings are filed, the Company intends to continue to satisfy the
provisions of the Alternative Information Guidelines (the "AIG") specified in
Section 4.4 of NP 12-203 by issuing bi-weekly Default Status Reports, each of
which will be issued in the form of a news release. NGG intends to file, if
required, its next Default Status Report by May 28, 2012. 


Pursuant to the requirements of the AIG, the Company reports that, since the
issuance of the Default Notice and subsequent Default Status Report on May 1,
2012, there has not been any material change to the information provided
therein, nor has there been any failure by the Company in fulfilling its stated
intentions with respect to satisfying the AIG. In addition, there has not been
any specified default by the Company under NP 12-203 other than the delay in
filing the Required Filings, and there is no other material information
concerning the affairs of the Company that has not been generally disclosed.


ON BEHALF OF THE BOARD

Greg Heaney, CEO and Director

Forward Looking Statements - Certain information set forth in this news release
may contain forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of
NGG, including, but not limited to the impact of general economic conditions,
industry conditions, volatility of commodity prices, risks associated with the
uncertainty of resource and reserve estimates, currency fluctuations, dependence
upon regulatory approvals, the availability of future financing and exploration
risk. Readers are cautioned that the assumptions used in the preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on the
forward-looking statements.

(TSXV:NGG)
Historical Stock Chart
From May 2024 to Jun 2024

(TSXV:NGG)
Historical Stock Chart
From Jun 2023 to Jun 2024