VANCOUVER, BC, Feb. 19,
2025 /PRNewswire/ - OceanaGold Corporation
(TSX: OGC) (OTCQX: OCANF) ("OceanaGold" or the "Company") is
pleased to provide its Mineral Reserves and Mineral Resources
("R&R") statement for the year-ended December 31, 2024.
Highlights
- Mineral Reserves increased by 27% to 6.2 Moz Au net of mining depletion at a 15% higher
grade
- Measured and Indicated Mineral Resources increased by 8% to 8.9
Moz Au net of mining depletion
- Initial Mineral Reserves of 4.1 Mt at 9.2 g/t for 1.21
Moz Au declared for Wharekirauponga
at Waihi
- Increase in Mineral Reserves at Didipio by 0.14 Moz Au net of mining depletion
- Increase in Indicated Mineral Resources to 2.4 Mt at 17.9 g/t
for 1.4 Moz Au at
Wharekirauponga
- Increase in Indicated Mineral Resources by 0.17 Moz Au at Macraes
Gerard Bond, President and CEO of
OceanaGold, said "It is very pleasing that total Mineral Reserves
increased by 27% to 6.2 million ounces of gold net of mining
depletion, at a much higher average grade. This fantastic outcome
includes the initial 1.2 million ounces of reserves we declared at
Wharekirauponga in December 2024,
with further reserve additions at Macraes, Waihi, and Didipio.
Today's reserve and resource additions are a testament to our
strategy of creating value through exploration and the skill of our
talented exploration and technical teams who have delivered another
year of tremendous return on investment. I look forward to further
successes and value creation in 2025 from our planned $40M investment in exploration across all four
sites, our highest exploration budget in five years."
Mineral Reserves
The Proven and Probable Mineral Reserves estimates as at
December 31, 2024 are presented in
Table 1 below.
Table 1: Proven and Probable Reserves as at 31 December, 2024
|
Gold
|
Proven
|
Probable
|
Proven &
Probable
|
|
|
Tonnes
(Mt)
|
Au
(g/t)
|
Contained
Ozs (Moz)
|
Tonnes
(Mt)
|
Au
(g/t)
|
Contained
Ozs (Moz)
|
Tonnes
(Mt)
|
Au
(g/t)
|
Contained
Ozs (Moz)
|
Cut-off
grade
|
|
Horseshoe
underground
|
1.12
|
4.72
|
0.17
|
2.66
|
4.49
|
0.38
|
3.78
|
4.56
|
0.55
|
1.79 g/t Au
|
|
Palomino
underground
|
-
|
-
|
-
|
4.33
|
2.73
|
0.38
|
4.33
|
2.73
|
0.38
|
1.79 g/t Au
|
|
Haile open
pits
|
4.12
|
1.44
|
0.19
|
30.8
|
1.53
|
1.52
|
34.9
|
1.52
|
1.71
|
0.50 g/t & 0.60 g/t
Au
|
|
Haile Total
|
5.25
|
2.14
|
0.36
|
37.8
|
1.88
|
2.28
|
43.0
|
1.91
|
2.64
|
|
|
Didipio
underground
|
15.0
|
1.40
|
0.67
|
14.8
|
0.85
|
0.40
|
29.8
|
1.12
|
1.08
|
0.76 g/t & 1.16 g/t
AuEq
|
|
Didipio open pit
stockpile
|
15.8
|
0.31
|
0.16
|
-
|
-
|
-
|
15.8
|
0.31
|
0.16
|
0.40 g/t
AuEq
|
|
Didipio
Total
|
30.8
|
0.84
|
0.83
|
14.8
|
0.85
|
0.40
|
45.7
|
0.84
|
1.23
|
|
|
Macraes
underground
|
0.16
|
1.86
|
0.01
|
3.81
|
1.79
|
0.22
|
3.96
|
1.79
|
0.23
|
1.20 g/t & 1.01 g/t
Au
|
|
Macraes open
pits
|
11.5
|
0.58
|
0.22
|
8.02
|
0.70
|
0.18
|
19.5
|
0.63
|
0.40
|
0.30 g/t Au
|
|
Macraes
Total
|
11.6
|
0.60
|
0.22
|
11.8
|
1.05
|
0.40
|
23.5
|
0.83
|
0.62
|
|
|
Martha
underground
|
-
|
-
|
-
|
4.13
|
3.80
|
0.50
|
4.13
|
3.80
|
0.50
|
2.60 g/t & 3.10 g/t
Au
|
|
Wharekirauponga
|
-
|
-
|
-
|
4.10
|
9.20
|
1.21
|
4.10
|
9.20
|
1.21
|
2.40 g/t &
1.40 g/t Au
|
|
Waihi Total
|
-
|
-
|
-
|
8.23
|
6.49
|
1.72
|
8.23
|
6.49
|
1.72
|
|
|
Total
Gold
|
47.7
|
0.92
|
1.42
|
72.7
|
2.06
|
4.80
|
120
|
1.61
|
6.22
|
|
|
Silver
|
Proven
|
Probable
|
Proven &
Probable
|
|
Tonnes
(Mt)
|
Ag
(g/t)
|
Contained
Ozs (Moz)
|
Tonnes
(Mt)
|
Ag
(g/t)
|
Contained
Ozs (Moz)
|
Tonnes
(Mt)
|
Ag
(g/t)
|
Contained
Ozs (Moz)
|
|
Horseshoe
underground
|
1.12
|
1.8
|
0.1
|
2.66
|
2.0
|
0.2
|
3.78
|
2.0
|
0.2
|
|
Palomino
underground
|
-
|
-
|
-
|
4.33
|
2.5
|
0.3
|
4.33
|
2.5
|
0.3
|
|
Haile open
pits
|
4.12
|
1.8
|
0.2
|
30.8
|
2.3
|
2.3
|
34.9
|
2.3
|
2.6
|
|
Haile Total
|
5.25
|
1.8
|
0.3
|
37.8
|
2.3
|
2.8
|
43.0
|
2.3
|
3.1
|
|
Didipio
underground
|
15.0
|
1.8
|
0.8
|
14.8
|
1.3
|
0.6
|
29.8
|
1.5
|
1.5
|
|
Didipio open pit
stockpile
|
15.8
|
2.0
|
1.0
|
-
|
-
|
-
|
15.8
|
2.0
|
1.0
|
|
Didipio
Total
|
30.8
|
1.9
|
1.9
|
14.8
|
1.3
|
0.6
|
45.7
|
1.7
|
2.5
|
|
Martha
underground
|
-
|
-
|
-
|
4.13
|
16
|
2.2
|
4.13
|
16
|
2.2
|
|
Wharekirauponga
|
-
|
-
|
-
|
4.10
|
16
|
2.1
|
4.10
|
16
|
2.1
|
|
Waihi Total
|
-
|
-
|
-
|
8.23
|
16
|
4.3
|
8.23
|
16
|
4.3
|
|
Total
Silver
|
36.1
|
1.9
|
2.2
|
60.8
|
4.0
|
7.8
|
96.9
|
3.2
|
9.9
|
|
Copper
|
Proven
|
Probable
|
Proven &
Probable
|
|
Tonnes
(Mt)
|
Cu
(%)
|
Contained
(Mt)
|
Tonnes
(Mt)
|
Cu
(%)
|
Contained
(Mt)
|
Tonnes
(Mt)
|
Cu
(%)
|
Contained
(Mt)
|
|
Didipio
underground
|
15.0
|
0.40
|
0.1
|
14.8
|
0.31
|
0.05
|
29.8
|
0.36
|
0.11
|
|
Didipio open pit
stockpile
|
15.8
|
0.29
|
0.0
|
-
|
-
|
-
|
15.8
|
0.29
|
0.05
|
|
Didipio
Total
|
30.8
|
0.34
|
0.1
|
14.8
|
0.31
|
0.05
|
45.7
|
0.33
|
0.15
|
|
Total Copper
|
30.8
|
0.34
|
0.1
|
14.8
|
0.31
|
0.05
|
45.7
|
0.33
|
0.15
|
Mineral Reserves are defined by mine designs based upon the
following assumptions: metal prices of US$1,750/oz gold, US$3.50/lb copper and US$20/oz silver; NZD/USD exchange rate of
0.61.
- Reported estimates of contained metal are not depleted for
processing losses.
- For underground reserves, cut-offs applied to diluted
grades.
- Haile:
- Open Pit: the primary cut-off grade is 0.5 g/t Au, while oxide
material is assigned a cut-off grade of 0.6 g/t Au.
- Underground: the cut-off grade is 1.79 g/t Au, with adjacent
lower grade stopes included in the reserves estimate based on an
incremental stope cut-off grade of 1.69 g/t Au.
- Didipio:
- Gold equivalence (AuEq) is based upon the presented gold and
copper prices as well as processing recoveries. AuEq = Au g/t +
1.37 x Cu%.
- The 15.8 Mt surface stockpile inventory includes 5.3 Mt of
low-grade stocks mined at an approximate cut-off grade of 0.27 g/t
AuEq.
- Underground: incremental stopes proximal to development
already planned to access main stoping areas are reported to a
lower cut-off grade of 0.76 g/t AuEq.
- Macraes:
- Golden Point underground cut-off
grade is 1.20 g/t Au. Stopes for which access already exists are
reported to a lower cut-off grade of 1.01 g/t.
- Waihi:
- Martha underground cut-off grade for previously unmined stoping
areas is 2.60 g/t Au, increasing to 3.0 g/t Au for stoping areas in
close proximity to remnant workings, while development cut-off
grade is 0.90 g/t Au.
- Wharekirauponga underground cut-off grade for stopes is 2.40
g/t Au, while development cut-off grade is 1.40 g/t Au.
Mineral Reserves
Mineral Reserves increased at Waihi, largely due to the initial
Mineral Reserve declaration at Wharekirauponga underground. An
updated Prefeasibility Study technical report in accordance with
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101") was released on December 11, 2024.
Reserves at the Didipio increased by 0.14 Moz, after mine
depletion, due to reserve extensions at depth in Panel 3 as well as
mine design optimization in Panel 1 and Panel 2 (Figure 1). Reserve
additions net of mining depletion also occurred at Macraes, Waihi
and the Haile underground. An increase in gold price assumption to
$1,750 per ounce contributed to a
minor increase in total Reserves across the Company (see "Economic
Factors" in Figure 1 below).
Notes:
- "Depletion" refers to 2024 mining depletion.
- "Reserve Model Updates" represent drilling and/or model updates
to reserve or initial reserve declarations.
- "Economic Factors" relate to gold price, mining cost and
cut-off grade changes.
- "Adjustments" relate to changes not captured in other
categories.
Mineral Resources
The Measured, Indicated and Inferred Mineral Resource estimates
(inclusive of Mineral Reserves) as of December 31, 2024 are presented in Table 2
below.
Table 2: Measured and Indicated Resources as of 31 December, 2024
|
Measured
|
Indicated
|
Measured &
Indicated
|
Inferred
|
Cut-off
grade
|
|
Gold
|
Tonnes
(Mt)
|
Au
(g/t)
|
Contained
(Moz)
|
Tonnes
(Mt)
|
Au
(g/t)
|
Contained
(Moz)
|
Tonnes
(Mt)
|
Au
(g/t)
|
Contained
(Moz)
|
Tonnes
(Mt)
|
Au
(g/t)
|
Contained
(Moz)
|
|
Horseshoe
underground
|
1.47
|
4.90
|
0.23
|
3.93
|
4.53
|
0.57
|
5.40
|
4.63
|
0.80
|
0.8
|
3.7
|
0.09
|
1.50 g/t Au
|
|
Palomino
underground
|
-
|
-
|
-
|
4.72
|
3.18
|
0.48
|
4.72
|
3.18
|
0.48
|
1.1
|
2.3
|
0.08
|
1.50 g/t Au
|
|
Haile open
pits
|
4.14
|
1.44
|
0.19
|
30.8
|
1.53
|
1.52
|
34.9
|
1.52
|
1.71
|
2.2
|
0.8
|
0.06
|
0.50 g/t & 0.60 g/t
Au
|
|
Haile Total
|
5.61
|
2.35
|
0.42
|
39.4
|
2.03
|
2.57
|
45.1
|
2.07
|
2.99
|
4.1
|
1.7
|
0.2
|
|
|
Didipio
underground
|
15.6
|
1.57
|
0.79
|
17.6
|
0.88
|
0.50
|
33.2
|
1.20
|
1.28
|
6.4
|
0.8
|
0.2
|
0.67 g/t
AuEq
|
|
Didipio open pit
stockpile
|
15.8
|
0.31
|
0.16
|
-
|
-
|
-
|
15.8
|
0.31
|
0.16
|
-
|
-
|
-
|
0.27 g/t
AuEq
|
|
Didipio
Total
|
31.4
|
0.93
|
0.94
|
17.6
|
0.88
|
0.50
|
49.0
|
0.92
|
1.44
|
6.4
|
0.8
|
0.2
|
|
|
Macraes
underground
|
0.30
|
2.34
|
0.02
|
7.91
|
2.23
|
0.57
|
8.22
|
2.23
|
0.59
|
3.0
|
1.7
|
0.2
|
0.90 g/t Au
|
|
Macraes open
pits
|
13.7
|
0.66
|
0.29
|
25.1
|
0.69
|
0.56
|
38.8
|
0.68
|
0.85
|
23
|
0.7
|
0.5
|
0.30 g/t Au
|
|
Macraes
Total
|
14.0
|
0.69
|
0.31
|
33.1
|
1.06
|
1.12
|
47.1
|
0.95
|
1.44
|
26
|
0.8
|
0.7
|
|
|
Martha
underground
|
-
|
-
|
-
|
6.71
|
5.18
|
1.12
|
6.71
|
5.18
|
1.12
|
2.4
|
4.5
|
0.4
|
2.15 g/t Au
|
|
Wharekirauponga
|
-
|
-
|
-
|
2.42
|
17.9
|
1.40
|
2.42
|
17.9
|
1.40
|
1.9
|
9.8
|
0.6
|
2.10 g/t Au
|
|
Waihi open
pits
|
-
|
-
|
-
|
9.72
|
1.76
|
0.55
|
9.72
|
1.76
|
0.55
|
3.1
|
1.8
|
0.2
|
0.50 g/t & 0.56 g/t
Au
|
|
Waihi Total
|
-
|
-
|
-
|
18.9
|
5.06
|
3.06
|
18.9
|
5.06
|
3.06
|
7.4
|
4.7
|
1.1
|
|
|
Total
Gold
|
51.0
|
1.02
|
1.68
|
109
|
2.07
|
7.26
|
160
|
1.74
|
8.94
|
44
|
1.6
|
2.2
|
|
|
Measured
|
Indicated
|
Measured &
Indicated
|
Inferred
|
|
Silver
|
Tonnes
(Mt)
|
Ag
(g/t)
|
Contained
(Moz)
|
Tonnes
(Mt)
|
Ag
(g/t)
|
Contained
(Moz)
|
Tonnes
(Mt)
|
Ag
(g/t)
|
Contained
(Moz)
|
Tonnes
(Mt)
|
Ag
(g/t)
|
Contained
(Moz)
|
|
Horseshoe
underground
|
1.47
|
1.9
|
0.09
|
3.93
|
2.1
|
0.3
|
5.4
|
2.1
|
0.4
|
0.8
|
2.0
|
0.05
|
|
Palomino
underground
|
-
|
-
|
-
|
4.72
|
2.7
|
0.4
|
4.7
|
2.7
|
0.4
|
1.1
|
2.0
|
0.07
|
|
Haile open
pits
|
4.14
|
1.4
|
0.18
|
30.8
|
2.3
|
2.3
|
35
|
2.2
|
2.5
|
2.2
|
2.2
|
0.2
|
|
Haile Total
|
5.61
|
1.5
|
0.27
|
39.4
|
2.4
|
3.0
|
45
|
2.3
|
3.3
|
4.1
|
2.1
|
0.3
|
|
Didipio
underground
|
15.6
|
1.9
|
1.0
|
17.6
|
1.4
|
0.8
|
33.2
|
1.6
|
1.7
|
6.4
|
1.1
|
0.2
|
|
Didipio open pit
stockpile
|
15.8
|
2.0
|
1.0
|
-
|
-
|
-
|
15.8
|
2.0
|
1.0
|
-
|
-
|
-
|
|
Didipio
Total
|
31.4
|
2.0
|
2.0
|
17.6
|
1.4
|
0.8
|
49.0
|
1.7
|
2.7
|
6.4
|
1.1
|
0.2
|
|
Martha
underground
|
-
|
-
|
-
|
6.71
|
21
|
4.4
|
6.7
|
21
|
4.4
|
2.4
|
22
|
1.7
|
|
Wharekirauponga
|
-
|
-
|
-
|
2.42
|
28
|
2.2
|
2.4
|
28
|
2.2
|
1.9
|
15
|
0.9
|
|
Waihi open
pits
|
-
|
-
|
-
|
9.72
|
10
|
3.2
|
9.7
|
10
|
3.2
|
3.1
|
9.6
|
1.0
|
|
Waihi Total
|
-
|
-
|
-
|
18.9
|
16
|
9.8
|
19
|
16
|
9.8
|
7.4
|
15
|
3.6
|
|
Total
Silver
|
37.0
|
1.88
|
2.2
|
75.9
|
5.6
|
14
|
113
|
4.4
|
16
|
18
|
7.1
|
4.1
|
|
Measured
|
Indicated
|
Measured &
Indicated
|
Inferred
|
|
Copper
|
Tonnes
(Mt)
|
Cu
(%)
|
Contained
(Mt)
|
Tonnes
(Mt)
|
Cu
(%)
|
Contained
(Mt)
|
Tonnes
(Mt)
|
Cu
(%)
|
Contained
(Mt)
|
Tonnes
(Mt)
|
Cu
(%)
|
Contained
(Mt)
|
|
Didipio
underground
|
15.6
|
0.44
|
0.07
|
17.6
|
0.32
|
0.056
|
33.2
|
0.38
|
0.12
|
6.4
|
0.3
|
0.02
|
|
Didipio open pit
stockpile
|
15.8
|
0.29
|
0.05
|
-
|
-
|
-
|
15.8
|
0.29
|
0.046
|
-
|
-
|
-
|
|
Didipio
Total
|
31.4
|
0.36
|
0.11
|
17.6
|
0.32
|
0.056
|
49.0
|
0.35
|
0.17
|
6.4
|
0.3
|
0.02
|
|
Total
Copper
|
31.4
|
0.36
|
0.11
|
17.6
|
0.32
|
0.056
|
49.0
|
0.35
|
0.17
|
6.4
|
0.3
|
0.02
|
- Mineral Resources are reported inclusive of Mineral Reserves.
Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability.
- All resources are based on the following assumptions: metal
prices of US$1,950/oz gold,
US$4.0/lb copper and US$23/oz silver; NZD/USD exchange rate of
0.61.
- Open Pit resources are constrained by shells based upon
economic assumptions above. Waihi Open Pit resources reported
within a pit design limited by infrastructure considerations. Haile
Open Pit resources reported within reserve design pit.
- Underground resources are reported within volumes guided by
optimized stope designs based upon economic assumptions above and
exclude dilution.
- Haile Open Pit primary cut-off grade is 0.50 g/t Au, while
oxide cut-off grade is 0.60 g/t Au. Palomino resources and
Horseshoe resources cut-off grade is 1.50 g/t Au.
- For Didipio, the 15.8 Mt surface stockpile inventory includes
5.3 Mt of low-grade stocks mined at an approximate cut-off grade of
0.27 g/t AuEq.
- Didipio underground resources reported at a cut-off grade of
0.67 g/t AuEq between the 2,460mRL and 1,965mRL with AuEq cut-off
grade based on presented gold and copper prices. AuEq = Au g/t +
1.39 x Cu %.
- Macraes: Open Pits cut-off grade is 0.3 g/t Au. Golden Point underground cut-off grade is 0.9
g/t Au.
- Waihi: Martha underground cut-off grade is 2.15 g/t Au,
Wharekirauponga cut-off grade is 2.10 g/t Au, Martha Open Pit
cut-off grade is 0.5 g/t Au and Gladstone Open Pit cut-off grade is
0.56 g/t Au.
The increase in Measured and Indicated Mineral Resources of 0.62
Moz, net of mining depletion, is largely due to resource updates at
Wharekirauponga underground at Waihi, a gold price-related pit
expansion for Innes Mills open pit
at Macraes, and extensions for Horseshoe underground at Haile
(Figure 2).
Notes:
- "Depletion" refers to 2024 mining depletion.
- "Resource Model Updates" represent drilling and/or model
updates to reserve or initial reserve declarations
- "Economic Factors" relate to gold price, mining cost and
cut-off grade changes.
- "Adjustments" relate to changes not captured in other
categories.
Decreases in Inferred Resources is due to conversion and mining
depletion offset by gold price-related open pit expansions for
Macraes (Figure 3).
Notes: See notes for figure 2
About OceanaGold
OceanaGold is a growing intermediate gold and copper producer
committed to safely and responsibly maximizing the generation of
Free Cash Flow from our operations and delivering strong returns
for our shareholders. We have a portfolio of four operating mines:
the Haile Gold Mine in the United States
of America; Didipio Mine in the
Philippines; and the Macraes and Waihi operations in
New Zealand.
Notes to Mineral Reserves and Mineral Resources
Estimates
All Mineral Reserves and Mineral Resources were estimated as of
December 31, 2024 and have been
prepared in accordance with NI 43-101.
All tonnage, grade and contained metal content estimates have
been rounded; rounding may result in apparent summation differences
between tonnes, grade, and contained metal content.
Mineral Resources are reported inclusive of Mineral Reserves.
Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability. It is reasonably expected that the
majority of Inferred Mineral Resources could be upgraded to
Indicated Mineral Resources with continued exploration.
The updates to the Mineral Resources estimate for Haile open pit
and underground have been verified and approved by, or are based on
information prepared by, or under the supervision of, J. Moore, the
Company's Head of Resource Development. The updates to the Mineral
Reserves estimate for Haile open pits have been verified and
approved by, or are based on information prepared by, or under the
supervision of, D. Londono, the Company's Executive Vice President
and Chief Operating Officer Americas, and the Mineral Reserves
estimate for Haile underground has been verified and approved by or
is based upon information prepared by, or under the supervision of,
B. Drury, Superintendent- Engineering Services (underground),
Haile.
The Mineral Resources estimate for Didipio has been verified and
approved by, or is based on information prepared by, or under the
supervision of, J. Moore, while the Mineral Reserves estimate for
Didipio underground has been verified and approved by or is based
upon information prepared by, or under the supervision of, P.
Jones, the Company's Head of Underground Mining.
Any updates to the Mineral Resources estimate for Macraes open
pits have been verified and approved by, or are based on
information prepared by, or under the supervision of, J. Moore. The
updates to the Mineral Resources estimate for Macraes underground
operations have been verified and approved by, or are based on
information prepared by, or under the supervision of, M. Grant, the
Company's Senior Geologist – Resource Development, Macraes. The
Mineral Reserves estimate for Macraes open pits has been verified
and approved by, or is based on information prepared by, or under
the supervision of, K. Madambi, the Company's Manager – Technical
Services & Projects, Macraes. The Mineral Reserves estimate for
Macraes underground has been verified and approved by, or is based
upon information prepared by, or under the supervision of, E.
Leslie, the Company's Group Mining Engineer.
Any updates to the Mineral Resources estimate for Waihi's
Wharekirauponga underground, Martha underground, Gladstone open pit and Martha Open Pit have
been verified and approved by, or are based on information prepared
by, or under the supervision of, L. Crawford-Flett, the Company's
Manager – Exploration and Geology, Waihi. The Mineral
Reserves estimates for the Martha underground, Waihi underground
has been verified and approved by, or is based on information
prepared by, or under the supervision of, D. Townsend, the Company's Manager – Mining
(Underground), Waihi. The Mineral Reserves estimate for the
Wharekirauponga underground has been verified and approved by, or
is based upon information prepared by, or under the supervision of,
E. Leslie, the Company's Group Mining Engineer.
All such persons noted above are "qualified persons" for the
purposes of NI 43-101. D. Londono is a registered member of the
Society of Mining Engineers with the Society of Mining, Metallurgy
& Exploration. Messrs Crawford-Flett, Madambi, Jones, Leslie,
Moore and Townsend are Members and
Chartered Professionals with the Australasian Institute of Mining
and Metallurgy. M. Grant is a member of the Australian Institute of
Geoscientists. B. Drury is a Registered Member with the Society of
Mining, Metallurgy & Exploration.
For further scientific and technical information supporting the
disclosure in this news release (including disclosure regarding
Mineral Resources and Mineral Reserves, data verification, key
assumptions, parameters, methods used to estimate the Mineral
Resources and Mineral Reserves, and risks and other factors),
please refer to the following NI 43-101 technical reports available
on the SEDAR+ website at www.sedarplus.com under the Company's
name:
|
a)
|
"NI 43-101 Technical
Report Macraes Gold Mine Otago, New Zealand" dated March 28,
2024 with an effective date of December 31, 2023, prepared by M.
Grant, J. Moore, K. Madambi, E. Leslie and D. Carr
(OceanaGold);
|
|
b)
|
"NI 43-101 Technical
Report Didipio Gold / Copper Operations Luzon Island,
Philippines" dated March 31, 2022 with an effective date of
December 31, 2021, prepared by D. Carr, P Jones, and J. Moore
(OceanaGold);
|
|
c)
|
"NI 43-101 Technical
Report – Waihi District Pre-feasibility Study, New Zealand"
dated December 11, 2024 with an effective date of June 30, 2024,
prepared by D. Townsend, L. Crawford-Flett, K. Hollis, E. Leslie,
and T. Maton (OceanaGold); and
|
|
d)
|
"NI 43-101 Technical
Report Haile Gold Mine Lancaster County, South Carolina" dated
March 28, 2024 with an effective date of December 31, 2023,
prepared by D. Carr, D. Londono, J. Moore and B. Drury
(OceanaGold), L. Standridge and R. Cook (Call & Nicholas,
Inc.), J. Newton Janney-Moore and W. Lucas Kingston (NewFields
Mining & Technical Services LLC) and M. Sullivan and B. Miller
Clarkson (SRK Consulting (U.S.), Inc.).
|
Cautionary Statement Regarding Mineral Resources and Mineral
Reserves
The disclosure in this news release has been prepared in
accordance with NI 43-101, which differs significantly from the
requirements of the United States Securities and Exchange
Commission ("SEC"), and resource and reserve information contained
or referenced in this news release may not be comparable to similar
information disclosed by public companies subject to the technical
disclosure requirements of the SEC. Historical results or
feasibility models presented herein are not guarantees or
expectations of future performance.
Cautionary Statement Regarding Forward-Looking
Information
Certain information contained in this news release may be deemed
"forward-looking" within the meaning of applicable securities laws.
All statements other than statements of historical facts included
in this news release constitute forward-looking statements,
including but not limited to, the estimation of Mineral Reserves
and Mineral Resources, the realization of Mineral Reserves and
Mineral Resources estimates, estimates of exploration expenditures,
costs and timing of future exploration programs and
information relating to future performance and reflect the
Company's expectations regarding the execution of business
strategy, future growth, estimated costs, results of operations,
business prospects and opportunities of OceanaGold and its related
subsidiaries. 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 are subject to a variety of
risks and uncertainties which could cause actual events or results
to differ materially from those expressed in the forward-looking
statements and information, including, among others, the accuracy
of Mineral Reserve and Mineral 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.sedarplus.com under the Company's name. There are
no assurances the Company can fulfil forward-looking statements and
information. Such forward-looking statements and information 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.
Although the Company believes that any forward-looking statements
and information contained in this news release is based on
reasonable assumptions, readers cannot be assured that actual
outcomes or results will be consistent with such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements and information.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements and information,
whether as a result of new information, events or otherwise, except
as required by applicable securities laws.
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SOURCE OceanaGold Corporation
