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by Stockwatch Business Reporter

New York spot gold fell $5.30 Wednesday, closing at $2,510.70. The TSX Venture Exchange added 8.01 points to 560.91 while the TSX gold index added 0.32 point to 355.12. It took news to move most Canadian gold miners and explorers today, although some of the silent ones did trade busily. Barrick Gold Corp. (ABX) rose 17 cents to $26.85 on 6.03 million shares and Kinross Gold Corp. (K) added 13 cents to $12.41 on 6.17 million shares.

Patrick Godin's New Gold Inc. (NGD) rose 22 cents to $3.60 on 4.25 million shares on word that drilling at its Rainy River mine in Northwestern Ontario has proven successful at expanding the existing resource envelopes and confirming the continuity of potential new mining zones. Underground, the company applauds hits of up to 4.44 grams of gold and 38.1 grams of silver per tonne over a four-metre true width in the Intrepid strike extension area.

New Gold also touted hits at ODM East, 11 East and the Gap underground areas. Further, the company found continuity encouragement in the open-pit areas, with up to 4.15 grams of gold and 5.13 grams of silver per tonne over a true width of 17 metres. Mr. Godin, president and chief executive officer, cheered the "strong exploration results" as supporting his continuing exploration strategy, enthusing that they "confirm the upside potential remaining at Rainy River."

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