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New Gold Sells Brazilian Mine

April 14, 2010 (FinancialWire) — New Gold Inc. (TSX: NGD) (AMEX: NGD) said it has closed the sale of its Brazilian subsidiary Mineraçao Pedra Branca do Amapari Ltda, which holds the Amapari mine and related assets, to Beadell Resources Ltd.

New Gold said it received $37 million in cash and $16 million in Beadell shares for total consideration of $53 million from the sale of MPBA, resulting in New Gold holding around 19.5% of Beadell's shares outstanding.

Beadell is an Australian listed gold-focused company with exploration and development assets in Western Australia and Brazil.

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 the Peak Gold Mines in Australia.

The company has a portfolio of development and exploration assets in North and South America.

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