New Gold Inc. Common Shares 644535106 December 31, 2005 CUSIP 644535106 1. Sprott Asset Management Inc. Suite 2700, South Tower, Royal Bank Plaza, Toronto, Ontario M5J 2J1 Canada 2. n/a 3. 4. Ontario, Canada 5. 1,500,000 6. n/a 7. 1,500,000 8. n/a 9. n/a 10. n/a 11. n/a 12. BD Item 1 (a) New Gold Inc. (b) 601-595 Howe Street Vancouver, BC V6C 2T5 Canada Item 2 (a) Sprott Asset Management Inc. (b) Suite 2700, South Tower Royal Bank Plaza P.O. Box 27 Toronto, Ontario M5J 2J1 Canada (c) Canadian (d) Common Shares (e) 644535106 Item 3 n/a Item 4 (a) n/a (b) n/a (c) (i) 1,500,000 (ii) n/a (iii) 1,500,000 (iv) n/a Item 5 n/a Item 6 n/a Item 7 n/a Item 8 n/a Item 9 n/a Item 10 January 6, 2006 Neal Nenadovic Chief Financial Officer