NEWNORTH ANNOUNCES RESULTS FOR THE QUARTER ENDED SEPTEMBER 30, 2010

CALGARY, Nov. 10, 2010 /CNW/ -- 
CALGARY, Nov. 10, 2010 /CNW/ - NewNorth Projects Ltd. (NNP - TSXV) today
 announced its financial results for the quarter ended September 30,
 2010.


Mr. Greg Herndier, President and Chief Executive Officer of NewNorth,
 reports a net loss after tax of $1,213,000 which includes debenture
 interest of $417,000.  After tax loss per share, basic and diluted is
 $0.10. 


Select information for the year:


    --  NewNorth continues to find itself in a good balance sheet
        position, exceeding its operating loan covenants (current ratio
        not to be less than 1.25:1 and adjusted debt to equity not to
        exceed 2:1).  At September 30, 2010, the Company's current
        ratio is 14.85:1 and the adjusted debt to equity ratio is
        0.43:1.
    --  In the first quarter of 2010, NewNorth added revenue producing
        commercial assets to its portfolio by purchasing Chilkat
        Enterprises Ltd.  Chilkat's core asset is land and buildings
        located on Old Airport Road in Yellowknife, NT.  The property
        is fully leased.  This acquisition strengthens NewNorth's
        position in the Northwest Territories and increases its rental
        portfolio.    
    --  A Normal Course Issuer Bid ("NCIB") was entered into in
        January, 2010.  36,000 shares have been purchased in 2010 at an
        average price of 0.46.  Management believes that the value of
        NewNorth significantly exceeds the current stock prices.    



NNP continues to add value to land holdings by obtaining the necessary
 approvals.  Having those approvals will allow NNP to begin to execute
 development plans.   


NewNorth is an integrated land and building development Corporation
 operating in Alberta, the Northwest Territories and Nunavut.


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


The contents of this release have not been approved or disapproved by
 any securities authority or stock exchanges.



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piMr. Greg N. Herndier, Chief Executive Officer or Mrs. Shannon Cook,/iiController at [phone]/i/p

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