/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO
US NEWSWIRE SERVICES./
MELBOURNE, April 21, 2014
/CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) (NZX:
OGC) (the "Company") advises that on 19
April 2014 at the Macraes Open Pit, a section of the west
wall failed following a heavy rainfall. The wall was being
continuously monitored and there were no personnel working in the
open pit at the time of the failure. Access to the underground mine
was cut off, however, the underground mine itself was unaffected
and all underground personnel were brought safely to the surface.
There were no injuries.
The Company notified the necessary authorities and has worked
closely with them to investigate the incident.
Production from the open pit has been temporarily suspended to
further review the incident and develop a new plan for the
operation. The Company expects this review to be completed over the
next few weeks.
Earthworks commenced on 21 April
2014 to re-establish a road to the underground entrance.
Production from the underground operation is expected to resume by
the end of the week once a safe access road has been
reinstated.
The processing of ore has been unaffected and ore is being drawn
from stockpiles. The Company expects there to be only minimal
impact on near-term production as a result of this event.
About OceanaGold
OceanaGold Corporation is a significant multinational gold
producer with mines located on the South Island of New Zealand and in the Philippines. The Company's assets
encompass New Zealand's largest
gold mining operation at the Macraes goldfield in Otago which is
made up of the Macraes Open Pit and the Frasers Underground mines.
Additionally, on the west coast of the South Island, the Company
operates the Reefton Open Pit mine. OceanaGold's Didipio Mine in
northern Luzon, Philippines
commenced commercial production on 1 April
2013 and is expected to produce 100,000 ounces of gold and
14,000 tonnes of copper per year on average over the next 15 years.
In 2014, the Company expects to produce 275,000 to 305,000 ounces
of gold from the combined New
Zealand and Philippine operations and 21,000 to 24,000
tonnes of copper from the Philippine operations.
OceanaGold is listed on the Toronto, Australian and New Zealand stock exchanges under the symbol
OGC.
Cautionary Statement
Statements in this release may be forward-looking statements or
forward-looking information within the meaning of applicable
securities laws. Any statements that express or involve discussions
with respect to predictions, expectations, beliefs, plans,
projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected", "anticipates" or
"does not anticipate", "plans", "estimates" or "intends", or
stating that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved) are not
statements of historical fact and may be forward-looking
statements. Forward-looking statements such as production forecasts
are subject to a variety of risks and uncertainties which could
cause actual events or results to differ materially from those
reflected in the forward-looking statements. They include, among
others, the accuracy of mineral reserve and resource estimates and
related assumptions, inherent operating risks and those risk
factors identified in the Company's most recent Annual Information
Form prepared and filed with securities regulators which is
available on SEDAR at www.sedar.com under the Company's name. There
are no assurances the Company can fulfil such forward-looking
statements and, subject to applicable securities laws, the Company
undertakes no obligation to update such statements. Such
forward-looking statements are only predictions based on current
information available to management as of the date that such
predictions are made; actual events or results may differ
materially as a result of risks facing the Company, some of which
are beyond the Company's control. Accordingly, readers should
not place undue reliance on forward-looking statements. The
information contained in this release is not investment or
financial product advice.
SOURCE OceanaGold Corporation