If I have a new Iphone that hasnt been connected to Itunes yet but has photos on it and I connect to Itunes and it asks to restore from old Iphone, will I lose all my new photos?

Do not use iTunes to import pics. Import them as you would any digital camera

Import photos and videos from your iPhone, iPad, or iPod ...

While Importing using the instructions above is the preferred method, if you have a PC you can also just connect the phone, open the Windows File Manager or Explorer (not Internet Explorer), look for it as folder under devices, expand all subfolders and under the DCIM folder(s) you will see all your pictures. Just copy and paste them to your PC to a location of your choice. This will not transfer all the metadata but your images will all be there.