New Island Resources Inc. (The "Company") (TSXV:NIS) is pleased to announce that is has closed its previously-announced non-brokered private placement of 1,000,000 common shares at a price of $0.10 per share and 2,800,000 flow-through common shares at a price of $0.125 per share for gross proceeds of $450,000.00. No finders fees or commissions were involved.

The proceeds of the offering will be used for general working capital and exploration on the company's Glover Island property in Newfoundland, where drilling is currently in progress.

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 .