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Warrants Alert

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Address: 1000 - 36 Toronto St
Toronto ON M5C 2C5
Phone: 303 796 0229 Fax: 303 796 0265
Website - http://www.metal-res.com/s/Home.asp

Warrant Symbol - MR.WT
Number  Trading - 19,350,000
Expiration Date - December 11, 2008
Cusip - 59125J 12 0
Warrants called to trade news
 
New Gold assures Peak Gold, Metallica warrantholders
 
New Gold Inc. wishes to clarify the previously announced information regarding the trading symbols and the effect of the business combination on the outstanding warrants for both Peak Gold Ltd. and Metallica Resources Inc., which are expected to begin trading as New Gold on the Toronto Stock Exchange at market open on July 7, 2008.
 
Former

symbols/                              New symbols/
Cusip No.   Former terms              Cusip No.                  New terms
NGD.WT.A    one warrant plus $15      NGD.WT.A     same as former terms
Cusip No.   equals one common share;  Cusip No.
644535122   expiry June 28, 2017      644535122

PIK.WT      one warrant plus $1.50    NGD.WT.B     10 warrants plus $15
Cusip No.   equals one Peak Gold      Cusip No.    equals one New Gold common
70468J140   common share;             644535130    share plus 0.1 cent;
            expiry April 3, 2012                   expiry April 3, 2012

PIK.WT.A    one warrant plus 90 cents NGD.WT.C     10 warrants plus $9
Cusip No.   equals one Peak Gold      Cusip No.    equals one New Gold common
70468J130   common share; expiry      644535148    share plus 0.1 cent; expiry
            Nov. 28, 2012                          Nov. 28, 2012

MR.WT       one warrant plus $3.10    NGD.WT.D     1.1 warrants plus $3.44
Cusip No.   equals one Metallica      Cusip No.    equals one New Gold common
59125J120   common share; expiry      644535155    share plus 0.01 cent; expiry
            Dec. 11, 2008                          Dec. 11, 2008

New Gold reiterates that Peak Gold and Metallica warrantholders are not required to surrender their current Peak Gold or Metallica warrant certificates. In addition, New Gold wishes to provide the following information for its non-listed warrants.

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