In June 2001, the three-year-old gelding was consigned by the Bishopstown Stud to the Tattersalls Ireland sale but attracted no bids and was led out of the auction ring unsold.
Ridden by Garrett Cotter he started at odds of 13/2 in a field which included Accordion Etoile and the Jessica Harrington-trained favourite Strike Back.
[11] On his final appearance of 2003, Newmill finished second when attempting to concede thirteen pounds to Mariah Rollins in the Future Champions Novice Hurdle at Leopardstown Racecourse on 27 December.
[13] On 26 December he was moved back up to Grade I level for the Durkan New Homes Novice Chase over two miles and a furlong at Leopardstown, but after opening up a clear lead, he faded over the last two fences and finished fifth, thirty-five lengths behind the winner Mariah Rollins.
On 9 January he was back at Leopardtsown for the Grade II Paddy Fitzpatrick Memorial Novice Chase and recorded his most important win of the season as he took the lead at the second last fence and won by two lengths from Strong Project.
Before the last of these race he was transferred to the stable of John Joseph Murphy at Upton, County Cork: his owners' refused to comment on the reason for the switch.
[16] On 9 January, Newmill started at odds of 5/1 for the Kinloch Brae Chase over two and a half miles at Thurles Racecourse, in which his opponents included Strong Project, Hi Cloy and Native Upmanship.
[18] Newmill was sent to race in Britain for the first time when he contested the Grade I Queen Mother Champion Chase over two miles at the Cheltenham Festival and started a 16/1 outsider in a field which included Kauto Star and Moscow Flyer.
He went clear of the field approaching the final fence and stayed on strongly in the closing stages to win by nine lengths from Fota Island in a time of 3:51.50.
He led from the start, and despite several jumping errors he was never seriously challenged, winning easily by fifteen lengths from Fota Island, with Mariah Rollins finishing fifth of the six runners.
Two weeks later at Gowran Park he was matched against the leading hurdlers Macs Joy and Harchibald in the Grade II Red Mills Trial Hurdle.
A day after the race, Murphy reported that the gelding was in "sparkling form" and said "he's definitely a better horse this year and they just couldn't stay with him at that relentless gallop".
He disputed the lead with Ashley Brook for much of the race but weakened after the second last fence and finished fourth, nine lengths behind the winner Voy Por Ustedes.
In his attempt to regain his Champion Chase title at Cheltenham he started a 40/1 outsider and finished more than forty lengths behind the winner Master Minded.
His best efforts came at Cheltenham, when, as a 100/1 outsider, he finished fourth behind Master Minded, Well Chief and Petit Robin in the Champion Chase[29] and at Killarney Racecourse in May where he was beaten a neck by Snowy Morning.