NEWS RELEASE

NEW ISLAND RESOURCES INC.
Suite 602, TD Place 140 Water Street, St. John's, NL A1C 6H6 Canada
Telephone: (709) 576-7711     Facsimile: (709) 576-2236
 

March 2, 2009 Trading Symbol: TSXV:NIS
 
Notice of Arbitration

New Island Resources Inc. (New Island)(TSXV:NIS) of St. John�s, NL wishes to advise that it has today initiated arbitration proceedings with Anaconda Mining Corp. concerning Anaconda's right, without New Island's consent, to process Pine Cove ore at Crew Gold's Nugget Pond facility, together with matters related thereto.

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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 .