NEWS: New Island sells marble deposit for $10, royalty...

Junior mining company active in the acquisition, exploration and development of resource properties in Newfoundland (Gold) and Labrador (Uranium)

Gold PRODUCER (40% JV): 240,000 oz Au deposit + expansion potential; 16 MILLION shares of PXR-v

Dear Agoracom Family,

I want to thank all of you for your patience with us over the past 48 hours and apologize for what was admittedly a botched launch of our new site.

As you can see, we have reverted back to the previous version of the site while we address multiple forum functionality flaws that inexplicably made their way into the launch.

To this end:

1.We have identified 8 fundamental but easily fixable flaws that will be corrected in the coming week, so that you can continue to use the forums exactly as you've been accustomed to.

2.Additionally we will also be implementing a couple of design improvements to "tighten up" the look and feel of the forums.

Sincerely,

George et al

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NEWS: New Island sells marble deposit for $10, royalty...

posted on Jun 26, 2009 02:54PM

New Island sells marble deposit for $10, royalty

2009-06-26 13:48 ET - News Release

Mr. Harold Wareham reports

NEW ISLAND ANNOUNCES SALE OF CLAIMS RIGHTS TO MARBLE DEPOSIT

New Island Resources Inc. has sold the claims rights to its marble deposit near Deer Lake in Newfoundland to Island Industrial Ltd. for $10, and other good and valued consideration. Under the terms of the sale agreement, New Island will receive a royalty of 10 per cent of the gross profits from the sale value of products generated from the deposit. Additionally, New Island retains a right of first refusal should Island Industrial decide to dispose of the property in the future.

Harold Wareham, president, states that while disappointed New Island was unable to bring the marble deposit into commercial production, it is pleased to be able to reach an agreement with Island Industrial, a company which is and has been actively involved in the dimension stone industry in the province.

We seek Safe Harbor.

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