Newfoundland Goldbar Resources Inc.: Cancellation of Private Placement

Newfoundland Goldbar Resources Inc. (the "Company") (NEX: NGB.H) announces that further to its news release of February 26, 2007 it will not be proceeding with the non-brokered private placement of shares or the other matters referred to in the release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.