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Federal Funding Allocated for Environmental Assessment of Blackwater Gold Project

The Canadian Environmental Assessment Agency has allocated a total of $198,637 to eight applicants to support their participation in the federal environmental assessment of New Gold Inc's (NGD.TO) proposed Blackwater Gold Project in British Columbia.

This funding was made available to the public and aboriginal groups through the participant funding program administered by the agency.

New Gold is proposing the construction, operation, and decommissioning of an open pit gold and silver mine located approximately 100 kilometres south of Vanderhoof, British Columbia. As proposed, the project would produce 60,000 tonnes per day of gold and silver ore, over a mine life of 17 years.

NGD shares gained 23 cents to $6.82 on volume of 1.81 million.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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