New Island Resources Inc. (New Island)(TSXV:NIS) of St. John’s, NL announces that it has entered into a satisfactory agreement with Anaconda Mining Inc. (“Anaconda”) (TSX: ANX) regarding the shipment of Pine Cove ore to Crew Gold Canada Inc.’s (“Crew Gold”) Nugget Pond facilities and for the sharing of net cash flow on an equal basis.

Under the terms of a separate agreement signed between Anaconda and Crew, Anaconda will deliver approximately 200,000 tons of ore to Nugget Pond for toll processing during the next 12 months commencing the week of June 15, 2009. In the interim, Anaconda will be undertaking modifications to the Pine Cove mill to improve operating efficiencies.

New Island is pleased with these developments which should prove beneficial for all parties.

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 .