Shareholders of Metallica Resources, New Gold and Peak Gold Approve US$1.6 Billion Business Combination

Market Wire, June, 2008

Metallica Resources Inc. ("Metallica Resources") (TSX: MR) (AMEX: MRB), New Gold Inc. ("New Gold") (TSX: NGD) (AMEX: NGD) and Peak Gold Ltd. ("Peak Gold") (TSX VENTURE: PIK) are pleased to announce that their respective shareholders have approved the business combination of the three companies at meetings held on June 17, 2008 in Vancouver (in the case of New Gold and Peak Gold) and in Toronto (in the case of Metallica Resources). In excess of 99% of the votes cast at each of the meetings were in favour of the business combination.

The completion of the transaction remains subject to Court approval. If Court approval is obtained, Metallica Resources, New Gold and Peak Gold anticipate that the transaction will close on or about June 30, 2008.

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

Contacts: Metallica Resources Inc. Rhonda Bennetto Director Investor Relations and Corporate Communications (303) 640-3292 or Toll-free: 1-888-933-0313 x5 Email: rmbennetto@metal-res.com Website: www.metal-res.com New Gold Inc. Laura Sandilands Manager of Investor Relations (416) 977-1067 or Toll-free: 1-877-977-1067 Email: lsandilands@newgoldinc.com Website: www.newgoldinc.com Peak Gold Ltd. Melanie Hennessey Vice President Investor Relations (604) 696-3024 or Toll-free: 1-888-220-2760 Email: info@peakgold.com Website: www.peakgold.com