NEWS

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MELBOURNE, April 28, 2020 /CNW/ – OceanaGold Corporation (TSX: OGC) (ASX: OGC) (the “Company”) informs that at midnight Tuesday April 28, the New Zealand Government decreased the Country’s COVID-19 alert level from alert level four, where only essential businesses and work is permitted, to alert level three, at which additional businesses can resume operating if they can demonstrate required safe operating practices.

The Company is well prepared to operate under alert level three and has clearly demonstrated this through its strict health and hygiene protocols and safe operating practices at Macraes and Waihi.

At Waihi, the development of the Martha Underground along with regional exploration activities have resumed while adhering to the required safe practices. At Macraes, the Company has resumed mining and processing activities under strict and safe operating practices.

All administrative staff and other employees that can work from home will continue to do so for the duration of the level three alert period. Any of the Company’s employees or contractors with underlying health concerns, or those deemed at risk, will remain at home until it can be established that it is safe and appropriate under government guidelines to return to work.

As a result of these changes, and with Haile operating at full capacity, the Company reaffirms its 2020 guidance.

Michael Holmes, President and CEO of OceanaGold said, “We continue to recognise and support the New Zealand Government’s strong action to stop the spread of COVID-19. The health and wellbeing of our workforce is paramount and the safe working practices at both the Waihi and Macraes operations align well with the Government’s directives.”

“At OceanaGold, safe operating practices include effective health screening procedures, physical distancing, contact tracing and restricted site access to essential employees and contractors only. With these strict protocols in place, we have resumed mining and processing at Macraes and development of the Martha Underground.”

“We continue to be focused on managing the near-term risks while executing on our operational plans, working with the Philippine government to renew our FTAA and resume operations at Didipio, and advancing our solid pipeline of organic growth opportunities including the Martha Underground. Our ongoing capital investments in New Zealand will not only create long-term value for our shareholders but will also create jobs and significant regional socio-economic benefits for New Zealand.”

To date, the Company has not had any confirmed cases of COVID-19 among any of its employees or contractors. Additional information related to the Company’s COVID-19 response including specific protocols to protect the health and safety of the workforce and local communities can be found on the Company’s website at www.oceanagold.com. The Company will use its website and social media to provide regular updates as to the status of its operations and workforce.

Authorised for release to market by OceanaGold Corporate Company Secretary, Liang Tang.

www.oceanagold.com | Twitter: @OceanaGold

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 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 operates the Haile Gold Mine, a top-tier, long-life, high-margin asset located in South Carolina. OceanaGold also has a significant pipeline of organic growth and exploration opportunities in the Americas and Asia-Pacific regions.

OceanaGold has operated sustainably since 1990 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.

For 2020, and subject to the cautionary statement below, the Company expects to produce between 360,000 and 380,000 ounces of gold from Haile, Waihi and Macraes combined at a consolidated All-In Sustaining Costs ranging from $1,075 to $1,125 per ounce sold.

Source: OceanaGold Corporation