OCEANAGOLD PROVIDES EXPLORATION AND ANNUAL RESOURCE AND RESERVE STATEMENT UPDATES

30 March 2017

MEDIA RELEASE
 

(All financial figures in US Dollars unless otherwise stated)

About OceanaGold

OceanaGold Corporation is a mid-tier, high-margin, multinational gold producer with assets located in the Philippines, New Zealand and the United States. The Company�s assets encompass its flagship operation, the Didipio Gold-Copper Mine located on the island of Luzon in the Philippines. On the North Island of New Zealand, the Company operates the high-grade Waihi Gold Mine while on the South Island of New Zealand, the Company operates the largest gold mine in the country at the Macraes Goldfield which is made up of a series of open pit mines and the Frasers underground mine. In the United States, the Company is currently commissioning the Haile Gold Mine, a top-tier asset located in South Carolina along the Carolina Terrane. The Company expects the Haile Gold Mine to commence commercial production in early in the second quarter of 2017. OceanaGold also has a significant pipeline of organic growth and exploration opportunities in the Australasia and Americas regions.

OceanaGold has operated sustainably over the past 27 years with a proven track-record for environmental management and community and social engagement. The Company has a strong social license to operate and works collaboratively with its valued stakeholders to identify and invest in social programs that are designed to build capacity and not dependency.

In 2017, the Company expects to produce 550,000 to 610,000 ounces of gold and 15,000 to 17,000 tonnes of copper with sector leading All-In Sustaining Costs that range from $600 to $650 per ounce sold.


Technical Disclosure

The updates of Mineral Resources for Macraes, Reefton and Blackwater have been verified by, are based on and fairly represent information compiled by or prepared by S. Doyle. The updates of the Mineral Resources for Waihi have been verified by, are based on and fairly represent information compiled by or prepared under the supervision of P. Church. The updates of Mineral Resources for Didipio have been verified by, are based on and fairly represent information compiled by or prepared under the supervision of J. G. Moore. The updates of Mineral Reserves for Macraes have been verified by, are based on and fairly represent information compiled by or prepared by, or under the supervision of, K. Madambi The Mineral Reserves for Waihi have been verified by, are based on and fairly represent information compiled by or prepared under the supervision of T. Maton for open pit and D. Townsend for underground. The Mineral Reserves for Didipio were prepared under the supervision of C. Fawcett. The Mineral Reserves and Resources for the Haile Gold Mine are the responsibility of Mr B. van Brunt. B. van Brunt is a full-time employee of Haile Gold Mine, Inc. C. Fawcett is a full-time employee of OceanaGold (Philippines) Inc., S. Doyle, K. Madambi, P. Church, T. Maton and D. Townsend, J. G. Moore are full-time employees of Oceana Gold (New Zealand) Limited. Messrs Church, Doyle, Fawcett, Madambi, Maton, Townsend and Moore are Members and Chartered Professionals with the Australasian Institute of Mining and Metallurgy. Mr van Brunt is a Fellow of the Australasian Institute of Mining and Metallurgy. Each is a �qualified person� for the purposes of NI 43-101.

Messrs Church, Doyle, Fawcett, Madambi, Maton, Moore, van Brunt and Townsend consent to inclusion in this public release of the matters based on their information in the form and context in which it appears. The estimates of Mineral Resources and Reserves contained in this public release are based on, and fairly represent, information and supporting documentation prepared by the named qualified and competent persons in the form and context in which it appears. All such persons are �qualified persons� for the purposes of NI 43-101 and have sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a �competent person� as defined in the JORC Code.

For further scientific and technical information (including disclosure regarding Mineral Resources and Mineral Reserves) relating to the Blackwater Project, the Didipio Gold-Copper Mine, the Macraes Mine, the Haile Gold Mine, and the Waihi Gold Mine please refer to the NI 43-101 compliant technical reports available at sedar.com under the Company�s name.


 

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