New Gold Inc. owns 100% of the mineral rights to its Afton Project, located 10km west of Kamloops, British Columbia, Canada. The Company has outlined a Measured and Indicated Mineral Resource of 68.7 Million Tonnes grading 1.08% Cu, 0.85g/t Au, 2.62g/t Ag, and 0.12g/t Pd, which contains approximately 1.6 billion pounds of copper, and 1.9 million ounces of gold (Advanced Scoping Study, February 2004, Behre Dolbear and Company Ltd.). This Study suggested that the project has very attractive economics at metal prices as low as US$0.85 per lb copper, and US$375 per ounce gold.