Exhibit 99.1

 

PRESS RELEASE

Shareholders of Metallica Resources, New Gold and Peak Gold

Approve US$1.6 Billion Business Combination

June 18, 2008 – VANCOUVER, BC – 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 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.

For further information please contact:

Rhonda Bennetto

Director Investor Relations and Corporate Communications

Metallica Resources Inc.

Direct: +1 (303) 640-3292

Toll-free: +1 (888) 933-0313 x5

Email: rmbennetto@metal-res.com

Website: www.metal-res.com

Laura Sandilands

Manager of Investor Relations

New Gold Inc.

Direct: +1 (416) 977-1067

Toll-free: +1 (877) 977-1067

Email: lsandilands@newgoldinc.com

Website: www.newgoldinc.com

Melanie Hennessey

Vice President Investor Relations

Peak Gold Ltd.

Direct: +1(604) 696-3024

Toll-free: +1 (888) 220-2760

Email: info@peakgold.com

Website: www.peakgold.com

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