New Island Resources Inc. (New Island)(TSX VENTURE:NIS) of St. John's, NL wishes
to advise that it has today initiated arbitration proceedings with Anaconda
Mining Corp. concerning Anaconda's right, without New Island's consent, to
process Pine Cove ore at Crew Gold's Nugget Pond facility, together with matters
related thereto.


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.


New Island Resources (TSXV:NIS)
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New Island Resources (TSXV:NIS)
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