New Asia Gold Corp. Anticipates Explosive Growth

BOCA RATON, Fla., Oct 28, 2008 (GlobeNewswire via COMTEX) -- New Asia Gold Corp. (Pink Sheets:NWAG) is pleased to announce that further evaluation of the existing exploration data shows that there is considerable scope for finding a large gold deposit at depth on the Kapur Project. The Company is confident that its shallow drilling program will substantially increase its proven gold reserves at shallow depths. The existing proven gold reserves were based on only 16 of 41 drill holes and none of the 52 trenches that were excavated. Of the 52 trenches there were excavated, 42 demonstrated different degrees of mineralization as well as many of the drill holes not used in the reserve evaluation had gold intersections.

New Asia Gold Corp. is a successful exploration company that has found and defined proven gold reserves. Based on independent assessment reports, the Company currently has proven gold reserves of 330,000 ounces of gold with a value of $282 million U.S. assuming an average gold price of $850 US per ounce. The Company has further estimated probable reserves of 2.5 million ounces of gold. As the Company completes its drilling program this fall, it is anticipated that the proven reserves will be increased substantially. Currently no inferred or probable reserve can be assigned to the potential for reserves at depth. Based on existing assets, the Company expects explosive growth as the drilling results are obtained.

New Asia Gold Corp. trades in the United States on the NQB Pink Sheets under the symbol "NWAG". For further information, please contact Nancy Goldman at (516) 962-4139 or go to New Asia Gold.

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.

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SOURCE: New Asia Gold Corp.

New Asia Gold Corp.
Nancy Goldman
(516) 962-4139

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