Metallica Resources, New Gold and Peak Gold Announce Signing of Definitive Agreement for US$1.6 Billion Business Combination

Share Name	Share Symbol	Market	Type
Metallica Resources,	AMEX:MRB	AMEX	Ordinary Share

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Metallica Resources,

AMEX:MRB

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Metallica Resources, New Gold and Peak Gold Announce Signing of Definitive Agreement for US$1.6 Billion Business Combination

12/05/2008 12:30pm

PR Newswire (US)

Metallica (AMEX:MRB)
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VANCOUVER, May 12 /PRNewswire-FirstCall/ -- Metallica Resources Inc. ("Metallica Resources") (TSX - MR and AMEX - MRB), New Gold Inc. ("New Gold") (TSX and AMEX - NGD) and Peak Gold Ltd. ("Peak Gold") (TSXV - PIK) are pleased to announce that they have signed a definitive agreement in connection with the previously announced business combination (the "Transaction"). Each of Metallica Resources, New Gold and Peak Gold have scheduled shareholder meetings to be held on June 17, 2008 at which they will seek their respective shareholder approvals required in connection with the Transaction. It is anticipated that materials for such meetings will be mailed to shareholders on or about May 26, 2008. The Transaction is expected to close on or about June 30, 2008. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Rhonda Bennetto, Director Investor Relations and Corporate Communications, Metallica Resources Inc., Direct: (303) 640-3292, Toll-free: 1 (888) 933-0313 x5, Email: , Website: http://www.metal-res.com/; Laura Sandilands, Manager of Investor Relations, New Gold Inc., Direct: (416) 977-1067, Toll-free: 1 (877) 977-1067, Email: , Website: http://www.newgoldinc.com/; Melanie Hennessey, Vice President Investor Relations, Peak Gold Ltd., Direct: (604) 696-3024, Toll-free: 1 (888) 220-2760, Email: , Website: http://www.peakgold.com/ DATASOURCE: Peak Gold Ltd. CONTACT: Rhonda Bennetto, Director Investor Relations and Corporate Communications, Metallica Resources Inc., Direct: (303) 640-3292, Toll-free: 1 (888) 933-0313 x5, Email: , Website: http://www.metal-res.com/; Laura Sandilands, Manager of Investor Relations, New Gold Inc., Direct: (416) 977-1067, Toll-free: 1 (877) 977-1067, Email: , Website: http://www.newgoldinc.com/; Melanie Hennessey, Vice President Investor Relations, Peak Gold Ltd., Direct: (604) 696-3024, Toll-free: 1 (888) 220-2760, Email: , Website: http://www.peakgold.com/

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