New Island Resources Inc. (New Island)(TSXV:NIS) of St. John�s, NL reports that its option agreement with Crew Gold Corporation (Crew) covering its large Glover Island property has been terminated. As a result clear title to 100% of the property now resides with New Island.

The Company is pleased with this development given that Crew was unable to further advance the property and it now places the Company is a position to negotiate with other prospective joint venture partners, which has commenced.

The Company also advises that it met with Anaconda Mining Inc. on January 14th and is currently assessing its position with respect to the sharing of revenue from the Pine Cove property.

For further information, please contact:

Harold Wareham, President, Telephone: (709) 576-7711   Fax: (709) 576-2236 Email: info@newislandresources.com www.newislandresources.com

Statements contained in this release that are not historical facts are forward-looking statements, which involve known and unknown risks and uncertainties not under the company's control, which may cause actual results, performance or achievements of the company to be materially different from the results, performance or expectations implied by these forward-looking statements .