Notice of Arbitration

Junior mining company active in the acquisition, exploration and development of resource properties in Newfoundland (Gold) and Labrador (Uranium)

Gold PRODUCER (40% JV): 240,000 oz Au deposit + expansion potential; 16 MILLION shares of PXR-v

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Clavis

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Notice of Arbitration

posted on Mar 02, 2009 11:52AM

March 2, 2009

New Island Resources Inc.: Notice of Arbitration

ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwire - March 2, 2009) - New Island Resources Inc. (New Island)(TSX VENTURE: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.

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