NGD New Gold Inc

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES


(All figures are in Canadian dollars unless otherwise stated)

New Gold Inc. ("New Gold") (TSX:NGD)(NYSE Amex:NGD) today announced that it has
entered into an agreement with a syndicate of underwriters led by BMO Capital
Markets and GMP Securities L.P. under which the underwriters have agreed to buy
on a bought deal basis by way of a short form prospectus, 26,700,000 Common
Shares (the "Common Shares") at a price of $3.75 per Common Share for gross
proceeds of $100,125,000. The Company has granted the underwriters an option,
for a period of 30 days following the closing of the offering, to purchase up to
an additional 15% of the Offering to cover over-allotments, if any. The net
proceeds of the offering will be used for general corporate purposes. The
offering is expected to close on or about September 11, 2009 and is subject to
the Company receiving all necessary regulatory approvals. The complete syndicate
of underwriters includes: BMO Capital Markets, GMP Securities L.P., Canaccord
Capital Corporation, RBC Dominion Securities Inc., Scotia Capital Inc., TD
Securities Inc., National Bank Financial Inc., Paradigm Capital Inc. and
Wellington West Capital Markets Inc.


The securities offered have not been registered under the U.S. Securities Act of
1933, as amended, and may not be offered or sold in the United States absent
registration or an applicable exemption from the registration requirements. This
press release shall not constitute an offer to sell or the solicitation of an
offer to buy nor shall there be any sale of the securities in any State in which
such offer, solicitation or sale would be unlawful.


About New Gold

New Gold is an intermediate gold mining company, headquartered in Vancouver,
British Columbia, Canada with three operating assets; the Mesquite Mine in the
United States, Cerro San Pedro Mine in Mexico and Peak Mines in Australia. The
Company is expected to produce between 330,000 and 360,000 ounces of gold in
2009-, growing to over 400,000 ounces in 2012 and have significant reserves and
resources with a strong portfolio of mining, development and exploration assets
in mining friendly jurisdictions. For further information on New Gold, please
visit www.newgold.com.


CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information contained in this press release, including any information
relating to New Gold's future financial or operating performance may be deemed
"forward looking". All statements in this press release, other than statements
of historical fact, that address events or developments that New Gold expects to
occur, are "forward-looking statements". Forward-looking statements are
statements that are not historical facts and are generally, but not always,
identified by the words "expects", "does not expect", "plans", "anticipates",
"does not anticipate", "believes", "intends", "estimates", "projects",
"potential", "scheduled", "forecast", "budget" and similar expressions, or that
events or conditions "will", "would", "may", "could", "should" or "might" occur.
All such forward looking statements are subject to important risk factors and
uncertainties, many of which are beyond New Gold's ability to control or
predict. Forward-looking statements are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause New Gold's actual results, level
of activity, performance or achievements to be materially different from those
expressed or implied by such forward-looking statements. Such factors include,
without limitation: New Gold's anticipated synergies from the business
combination with Western Goldfields Inc. may not be realized; there may be
difficulties in integrating the operations and personnel of New Gold;
significant capital requirements; fluctuations in the international currency
markets and in the rates of exchange of the currencies of Canada, the United
States, Australia, Brazil, Mexico and Chile; price volatility in the spot and
forward markets for commodities; impact of any hedging activities, including
margin limits and margin calls; discrepancies between actual and estimated
production, between actual and estimated reserves and resources and between
actual and estimated metallurgical recoveries; changes in national and local
government legislation in Canada, the United States, Australia, Brazil, Mexico
and Chile or any other country in which New Gold currently or may in the future
carry on business; taxation; controls, regulations and political or economic
developments in the countries in which New Gold does or may carry on business;
the speculative nature of mineral exploration and development, including the 

risks of obtaining necessary licenses and permits; diminishing quantities or
grades of reserves; competition; loss of key employees; additional funding
requirements; actual results of current exploration or reclamation activities;
changes in project parameters as plans continue to be refined; accidents; labour
disputes; defective title to mineral claims or property or contests over claims
to mineral properties. In addition, there are risks and hazards associated with
the business of mineral exploration, development and mining, including
environmental hazards, industrial accidents, unusual or unexpected formations,
pressures, cave-ins, flooding and gold bullion losses (and the risk of
inadequate insurance or inability to obtain insurance, to cover these risks) as
well as "Risks Factors" included in New Gold's Annual Information Form filed on
March 31, 2009 and Management Information Circular filed on April 15, 2009, both
available at www.sedar.com. Forward-looking statements are not guarantees of
future performance, and actual results and future events could materially differ
from those anticipated in such statements. All of the forward-looking statements
contained in this press release are qualified by these cautionary statements.
New Gold expressly disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, events or
otherwise, except in accordance with applicable securities laws.

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