New Island Reports on Drilling Results in the Nugget Pond Area

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR (TSX VENTURE: NIS) of St. John's, NL reports that assay results from the previously reported drill holes (Press Release November 28, 2007) on the Long Pond-Castle Rock (Tilt Cove) area at the northeast end of its Nugget Pond claim blocks on the Baie Verte Peninsula in Newfoundland have been completed and received.

These holes were designed to test gold-prospective areas within the Nugget Pond Horizon, host to the former Nugget Pond gold mine located approximately 9 kilometers to the southwest. These prospective areas were defined by previous exploration programs and were recommended follow-up targets. All five holes hit their targets and selected samples were taken from the most prospective zones.

Drill holes TC-07-01, 02 and 05 were testing the Nugget Pond Horizon underneath the Castle Rock showing/Garvey trenches. Previous exploration had reported grab samples yielding up to111.5g/t Au and channel up to 25.4g/t Au over 1.1 meters. All of the pyritized Nugget Pond Horizon sediments carried anomalous gold, and hole TC-07-01 had the most significant values at 3.6 g/t over 3.0 meters, or 4.2 g/t over 2.3 meters occurring in red mudstone with 1 to 2 % 4-mm euhedral pyrite associated with quartz - carbonate veining. TC -07-02 was drilled 100 meters east of TC-07-01 and did not return any significant assays. TC-07-05 was drilled 50 meters down dip of TC-07-01 and intersected 3.974 g/t Au over 0.5 meters or 2.035 g/t Au over 1.1 meters.

TC-07-03 was drilled to test an IP anomaly associated with the Nugget Pond Horizon underneath the east arm of Long Pond. It carried anomalous gold values in the pyritized Nugget Pond Horizon sediments, with the highest value being 0.795 g/t Au and 6.16 g/t Ag over 0.9 meters. Hole TC-07-04 had no assays and was drilled underneath trenching and channel sampling that had previously given 1.84g/t over 3.0 meters in altered and pyritized basalt and talc schistose ultramafics.

Further detailed geological and geophysical surveys should be undertaken to further identify and define potential targets.

New Island Inc. also wishes to report that a two hole drill program has been completed on its claims optioned from South Coast Ventures Inc. (Press Release November 28, 2007). These claims are located in the West Pond area, about 800 meters northeast along strike from the former Nugget Pond gold mine and are underlain by the gold-bearing Nugget Pond Horizon. These holes were designed to test the Nugget Pond Horizon containing coincident IP and magnetic anomalies in the area of a cross-cutting structure. They both intersected the targeted Nugget Pond Horizon. In hole WP-07-01 the Nugget Pond Horizon consisted of dark green and red siltstones and mudstones and carried anomalous gold values up to 644 ppb and 2.8 g/t Ag over 0.3 meters as well as another sample assaying 8.90 g/t Ag over 0.3 meters with anomalous gold values. The upper sediments in this hole are very similar to the black to dark green sediments at the former Nugget Pond mine with 5 -10 % disseminated to laminated pyrite. Hole WP-07-02A, drilled 75 meters to the east of WP-07-01, intersected the Nugget Pond Horizon sediments and returned no significant gold or silver assays but had 1.19% Cu and 750 ppm Pb. Further evaluation of the distribution and style of the Nugget Pond-type alteration and mineralization should be undertaken to determine the location of any future mineral exploration.

Mr. Kevin Regular, B.Sc., P.Geo, is a qualified person within the meaning of National Instrument 43-101 ("NI-43-101") and is responsible for the technical material in this release. Mr. Regular has verified the data disclosed in this release, including the sampling, analytical and test data underlying the information. Geological logging, sampling and core handling procedures were carried out under the supervision of Mr. Regular.

Statements contained in this release that are not historical facts are forward-looking statements, which involve known and unknown risks and uncertainties not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or expectations implied by these forward-looking statements.

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

Contacts: New Island Resources Inc. Harold L. Wareham President (709) 576-7711 (709) 576-2236 (FAX) Email: info@newislandresources.com

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