New Guinea Gold Corp : New Guinea Gold-High Grade Gold Exploration Assay Results

900 - 595 Howe Street P.O. Box 10328

Vancouver, B.C., Canada, V6C2T5 Brisbane Adelaide St, Qld 4000

Phone: +1 604.689.1515, ext 103 Phone: +61(7)3003 0100

Fax: +1 604.687.8678 Fax: +61(7)3003 0054

Email: ba@primarycapital.net Email: info@newguineagold.ca

Trading Symbols: TSX-V: NGG

Frankfurt: NG8

Web Site: www.newguineagold.ca

Vancouver B.C. - January 23, 2013 - New Guinea Gold Corporation ("NGG" or the "Company") (TSX Venture: NGG) has received assay results from a recent exploration program conducted at the Mengmut prospect, centred approximately 1 kilometre south of the Sinivit mining operation in East New Britain Province, Papua New Guinea. Highlights from these results include rock chip samples assaying 12.1ppm Au, 6.49ppm Au and 6.32ppm Au.
A summary of the best results from the rock chip sampling is presented in Table 1.

Table 1
These very encouraging results from outcrop at Mengmut will be further tested with diamond drilling in an upcoming exploration program planned for March 2013.
Further targets have been identified from a recent 3D IP geophysical study and will also be drill tested.
The 2013 program will involve approximately 1800 metres of diamond drilling in 12 holes on the exploration lease EL 1140 as well as the mining lease ML 122. There are four main target areas to be drilled in this program; the Mengmut vein system, geophysical anomalies in the Gorocha Block, a geochemical and geophysical anomaly at Magiabe, and deeper drilling beneath the oxide mineralisation at the Sinivit Mine.

The holes drilled by NGG are collared using HQ triple tube drill tools. Some holes may be reduced to NQ size at depth in order to continue the hole.
The core is logged, samples selected by NGG geologist then systematically sawn in half on site. The half core sample is numbered, sealed in a bag and delivered by NGG to its base in Rabaul where the samples are placed in secure storage prior to shipment to ALS Minerals in Townsville, Australia. The other half core is retained on site.
Core samples are dried, crushed and pulverised to 85% passing through a 75 micron mesh. The pulps are assayed for gold and copper using a 50 g split, Fire Assay (FA), and AA finish. Rejects and pulps are stored at the lab for future reference.

Mr. Brian Koster, COO of NGG, is a Chartered Professional Member of the Australasian Institute of Mining and Metallurgy and a qualified person in accordance with National Instrument 43-101. Mr. Koster has reviewed and approved the technical information contained in this news release.
ON BEHALF OF THE BOARD

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture

Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward- looking statements.

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