|By Marketwired .||
|July 21, 2014 07:00 AM EDT||
BOCA RATON, FL -- (Marketwired) -- 07/21/14 -- New World Gold Corporation, (PINKSHEETS: NWGC), a gold mining and milling company with existing mining and milling operations in Ecuador and Peru has agreed to begin processing tailings piles for independent mining operations. The Company is building a new 50 ton a day mill to increase its processing capability. The new mill is scheduled to be fully operational by August 20, 2014. It is expected that the mill will operate at capacity within 3 to 4 weeks of start up
The initial tailings operation has 100,000 tons of material to be processed with an average head grade of 5grams of gold per ton and 20 ozs of silver per ton. Grades have been verified by independent laboratory analysis. The Company will get paid for the cost of processing the tailings plus a percentage of the gold recovered (companies share is estimated to be approximately 4000 ozs of gold in the first year of operation).The Company's portable concentration operations allow it to go into remote inaccessible areas to process materials.
New World Gold Corporation trades in the United States on the OTC Pink under the symbol "NWGC"
For further information, please contact the Company at (561)210 8496 or www.newworldgoldcorp.com or investors can find real time quotes and market information for the Company on www.otcmarkets.com.
NOTE: This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving risks and uncertainties. Results, events and performances could vary from those contemplated. These statements involve risk and uncertainties which may cause results, expressed or implied, to differ from predicted outcomes. Risks and uncertainties include but are not limited to product demand, market competition and New World Gold's ability to meet current and future plans. Investors should study and understand all risks before making an investment decision. Readers are recommended not to place undue reliance on forward-looking statements or information. New World Gold is not obligated to publicly release revisions to any forward-looking statement, to reflect events or circumstances afterward, or to disclose unanticipated occurrences except as required under applicable law.
New World Gold Corporation
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