Barrick Continues To Advance Work On Tres Cruces Project, Peru

Barrick Gold continues to advance exploration of the Tres Cruces gold project for New Oroperu, drilling a total of 24,462 m in 2007. This work yielded the best drill hole to date at Tres Cruces: 228 m with a gold grade of 2.95 grams/ton. For details on the latest drill results, please see New Oroperu's March 4, 2008 News Release. New Oroperu's President, K. Wayne Livingstone recently stated, "The continued successful drilling by Barrick on the company's 100% owned Tres Cruces Project is an important step in its development. We look forward to the completion of the next steps necessary for the advancement of our project."

In the first half of 2007, Barrick completed a 5,773 m. diamond drill program on the Tres Cruces Project (see August 8, 2007 News Release). Following the diamond drilling Barrick initiated a 9,400 m. reverse circulation drilling program for the purpose of in-fill drilling and testing the limits of the existing mineralization, as well as some condemnation drilling. In addition, a program of geotechnical drilling was completed comprising 3,925 m. in 20 holes. Barrick also recently completed an IP survey and is planning, concurrent with further definition and condemnation drilling, to test any new geophysical targets. Work on baseline environmental studies is now in progress. Additional samples have been submitted for metallurgical test work and a progress report on this work is expected. A new resource estimation by Barrick is also currently in progress.

Barrick has advised New Oroperu that it is continuing to delineate the resource and explore the deeper targets as well as other studies necessary for the evaluation of the Tres Cruces deposit. New Oroperu will report on these results when received from Barrick.

The Tres Cruces project is a 100% company owned project subject to a 1.5% NSR royalty and subject to an option agreement with Barrick. Under the terms of the agreement, in order to exercise the option Barrick must pay for all expenditures up to a production decision. New Oroperu retains a 30% interest and New Oroperu's share of production costs are financed by Barrick. Additionally New Oroperu retains a 2% NSR royalty of which US$1,000,000 is to be paid in advance at the time of a production decision. To maintain the option Barrick must pay US$250,000 to New Oroperu on May 31st each year (2007-Paid) until a production decision is made.

Prior to Barrick's option New Oroperu had reported a measured and indicated resource of 34.5 million tones grading 1.59 g/t., about 1,700,000 oz. gold. This historical resource estimate was made and reported by Battle Mountain Gold in 1999. To prepare an independent technical report New Oroperu's qualified person reviewed the data and interviewed the Battle Mountain personnel responsible for the estimate and determined that it was according to industry standards at the time. The details are in New Oroperu's NI 43-101 report "Summary Report of the Tres Cruces Property dated July 25 2002" and filed on SEDAR (www.sedar.com) on July 31 2002. These resources are determined to be historical with respect to the implementation of NI 43-101 and as such are deemed not NI 43-101 compliant and not to be relied on. All holes drilled by Barrick subsequent to this report are not included in the resource estimate. The total drill on the Tres Cruces Project, including Barrick's 24,462 meters in 2007, is now over 65,000 meters.

New Oroperu looks forward to Barrick's continued exploration and evaluation of Tres Cruces. The close proximity (12 km.) of the Tres Cruces deposit to Barrick's Lagunas Norte (Alto Chicama) operating mine will present common operating synergies which could enhance the economics of the Tres Cruces deposit.