Published:
New Asia Gold Corp Changes Name to New World Gold Corporation
New Asia Gold Corp (PINKSHEETS: NWAG) wishes
to announce that it has changed its name to New World Gold Corporation
(PINKSHEETS: NWGC) and reverse split its stock by 1000 old shares for 1
new share. The Company felt it was necessary to go through this
reorganization in order to allow the Company to grow and develop its
significant assets.
New World Asia Corporation is a successful exploration company focused on
exploration and development of gold prospects. Currently the Company has
several leases that have already been drilled and meaningful results
obtained. Independent reports indicate that the Company has proven
developed reserves, proven reserves and probable reserves. The proven
developed reserves will generate the company an estimated gross revenue of
$6.4 million with costs of an estimated $2.4 million in the first year.
These figures will increase as more of the proven gold reserves are brought
on production. Management of the Company fully intends to develop and
produce from existing leases while actively looking for additional leases
that require exploration and development.
The price of gold continues to stay above $900 per oz, making gold
properties with existing proven reserves very economical. The Company's
corporate strategy involves a long-term result-orientated approach to
exploration and development.
New World Gold Corporation trades in the United States on the NQB Pink
Sheets under the symbol "NWGC." For further information, please contact the
Company at (561) 393 2993.
NOTE: Certain statements in this press release are "forward-looking
statements" within the meaning of the Private Securities Act of 1995. Such
statements involve known and unknown risks, uncertainties and other factors
that may cause results to differ materially.
Such risks, uncertainties and other factors include but are not limited to
new economic conditions and factors described in independent reports,
company reports and other filings with regulatory bodies.
Copyright © 2009, MarketWire
Copyright © 2009, NewsBlaze,
Daily NewsTags: ,Manufacturing and Production:MiningandMetals, ,INTHPINK,INTHPINK,INTHPINK,FL,BOCA RATON, FL
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