New Island Resources Inc. (NIS: TSX.V) of St. John’s, NL is pleased to announce further positive results from the latest drilling on its Glover Island Gold Property in western Newfoundland. These results enhance the gold potential already confirmed in earlier drilling completed in the 1990’s and during the current program. Two (2) holes drilled at the Lucky Smoke (LS) Prospect have intersected the down dip and strike extensions of this gold zone discovered in 1994 and located 7 kilometres northeast of the main drilling site at the Lunch Pond South Extension (LPSE) Zone (see press release October 20, 2003).

Both holes intersected a gold mineralized, felsite zone, 55 metres below surface, highlighted by 2.2 g/t over 13.0 metres in LS-7 and 1.2 g/t over 25.0 metres in LS-8 and containing narrower, higher grade sections of 3.0 g/t over 7.0 m in LS-8 and 3.63 g/t over 3.0 m in LS-7. (The mineralized intervals are interpreted to represent a true thickness of the zones). Hole LS-8 intersected a second zone grading 1.72 g/t gold over 5.90 m at a depth of 25.0 m below surface and above the main gold zone. This hole also confirms a minimum strike extension of 50 metres for the new target. LS-7 was drilled to test the down dip extension 25 metres below discovery Hole LS-1, drilled in 1994 and which intersected 8 metres grading 13.2 g/t gold. The presence of high grade gold shoots first detected in LS-1 is confirmed by the intersections of several 1 m sections at 5.0, 5.3 and 8.0 g/t and 2 m sections at 4.0 and 5.2 g/t gold in both LS-7 and LS-8. These high grade shoots are exposed in surface trenches with a best value of 5.8 g/t over 9 metres.

The company reports these results have met the objectives of this 2 hole program on the LS Prospect. Other holes (LS-2 to LS-6) drilled in 1994 did not intersect significant dip and strike extensions of the gold zone. The success of the latest drilling is a result of detailed mapping completed since 1994, which showed the zone to be structurally complex. The 13 m and 25 m, thicker mineralized sections in LS-7 and LS-8 intersected at a deeper level of 55 metres below surface show the zone is thickening down dip and is open at depth for further drill testing.

New Island Resources is very encouraged with these results, which confirm the LS Gold Zone may have significant down dip and strike extensions. This gold zone 7 kms north of the LPSE Zone adds to the potential for discovering large tonnages of economic gold mineralization on the Glover Island Property. The LPSE and LS Gold Zones are 2 of a total of 16 established gold prospects along a 16 km mineralized structure. Drilling in the early 1990’s intersected significant gold mineralization at 10 of these prospects.

The company also advises assay results are still pending from the last 4 holes drilled on the LPSE Zone, all of which have intersected the gold mineralized felsite target. Final assay results are expected by early next week and will be released upon receipt.

New Island acknowledges the funding provided under the Junior Company Exploration Assistance Program (JCEAP) administered by the Newfoundland and Labrador Department of Mines and Energy.

The technical information contained in this release was collected and compiled by Project Manager, Sherry Dunsworth, M. Sc, P.Geo. who is a qualified person as defined by National Instrument 43-1.101.

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 .