New Island Resources Inc. Provides Update Regarding Filing of Financial Statements

New Island Resources Inc. ("the Company") (TSX VENTURE:NIS) announced in its
news release dated October 5, 2010 that it had made application to the Alberta
Securities Commission for an extension for the filing of its annual audited
financial statements for the year ended June 30, 2010. This request was not
approved.


In order to be compliant, the Company is endeavouring to meet the filing
deadline of October 28, 2010 for the filing of its annual audited financial
statements for the year ended June 30, 2010 together with the related financial
disclosure documents as required in accordance with Parts 4 and 5 of National
Instrument 51-102 and with National Instrument 52-109.


About New Island Resources Inc.

New Island is a diversified junior exploration company holding gold and base
metal properties in the Province of Newfoundland and Labrador. New Island has
entered into an agreement for the sale of its interest in the gold mine and mill
project at Pine Cove in central Newfoundland. Additional information concerning
this sale and New Island may be obtained on New Island's website at:
www.newislandresources.com or from the System for Electronic Document Analysis
and Retrieval (SEDAR) website at: www.sedar.com under New Island's profile.


ON BEHALF OF THE BOARD OF DIRECTORS

Harold Wareham, President and CEO

Statements contained in this release that are not historical facts are
forward-looking statements, which involve known and unknown risks and
uncertainties not under the company's control, which may cause actual results,
performance or achievements of the company to be materially different from the
results, performance or expectations implied by these forward-looking
statements.

New Island Resources (TSXV:NIS)
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