July 21, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — New Gold Inc. (TSX: NGD) (AMEX: NGD) said that its gold production increased 62% during the second quarter, to 89,919 ounces from 55,633 ounces in the same period in 2009. The firm’s gold sales increased by 56%, to 82,402 ounces, from 52,890 ounces in the same period in 2009. Cash balance increased by $32 million from the end of the first quarter to $376 million at June 30, 2010.

New Gold said that all three of its operating mines, Mesquite, Cerro San Pedro and Peak, had strong production quarters with gold, silver and copper production all contributing “meaningfully” to the company's cash flow.

New Gold reiterated its 2010 full year guidance of 330,000 to 360,000 ounces of gold production at a total cash cost of $445 to $465 per ounce sold, net of by-product sales.

The company will discuss second quarter earnings results during a conference call and webcast on August 6, 2010 at 10 a.m. ET.

Canada-based New Gold is an intermediate gold mining company with the Mesquite Mine in the United States, the Cerro San Pedro Mine in Mexico and Peak Gold Mines in Australia.

In addition, New Gold has a portfolio of development and exploration assets in North and South America.

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