VANCOUVER, BC, Feb. 19, 2025 /PRNewswire/ –  OceanaGold Company (TSX: OGC) (OTCQX: OCANF) (“OceanaGold” or the “Company”) is happy to grant its Mineral Reserves and Mineral Assets (“R&R”) commentary for the year-ended December 31, 2024.

Highlights

• Mineral Reserves greater by means of 27% to six.2 Moz Au web of mining depletion at a fifteen% upper grade
• Slow and Indicated Mineral Assets greater by means of 8% to eight.9 Moz Au web of mining depletion
• Preliminary Mineral Reserves of four.1 Mt at 9.2 g/t for 1.21 Moz Au declared for Wharekirauponga at Waihi
• Building up in Mineral Reserves at Didipio by means of 0.14 Moz Au web of mining depletion
• Building up in Indicated Mineral Assets to two.4 Mt at 17.9 g/t for 1.4 Moz Au at Wharekirauponga
• Building up in Indicated Mineral Assets by means of 0.17 Moz Au at Macraes

Gerard Bond, President and CEO of OceanaGold, stated “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 Confirmed and Possible Mineral Reserves estimates as at December 31, 2024 are offered in Desk 1 under.

Desk 1: Confirmed and Possible Reserves as at 31 December, 2024

Mineral Reserves are outlined by means of mine designs primarily based upon please see guesses: steel costs of US$1,750/ounces gold, US$3.50/lb copper and US$20/ounces silver; NZD/USD alternate fee of 0.61.

• Reported estimates of contained steel aren’t depleted for processing losses.
• For underground reserves, cut-offs implemented to diluted grades.
• Haile:
  • Noticeable Pit: the main cut-off grade is 0.5 g/t Au, pace oxide subject matter is assigned a cut-off grade of 0.6 g/t Au.
  • Underground: the cut-off grade is 1.79 g/t Au, with adjoining decrease grade stopes incorporated within the reserves estimate in line with an incremental stope cut-off grade of one.69 g/t Au.
• Didipio:
  • Gold equivalence (AuEq) is primarily based upon the offered gold and copper costs in addition to processing medications. AuEq = Au g/t + 1.37 x Cu%.
  • The 15.8 Mt floor stockpile stock contains 5.3 Mt of low-grade shares mined at an approximate cut-off grade of 0.27 g/t AuEq.
  • Underground: incremental stopes proximal to construction already deliberate to get admission to primary stoping gardens are reported to a decrease cut-off grade of 0.76 g/t AuEq.
• Macraes:
  • Blonde Level underground cut-off grade is 1.20 g/t Au. Stopes for which get admission to already exists are reported to a decrease cut-off grade of one.01 g/t.
• Waihi:
  • Martha underground cut-off grade for up to now unmined stoping gardens is two.60 g/t Au, expanding to a few.0 g/t Au for stoping gardens in alike proximity to remnant workings, pace construction cut-off grade is 0.90 g/t Au.
  • Wharekirauponga underground cut-off grade for stopes is two.40 g/t Au, pace construction cut-off grade is 1.40 g/t Au.

Mineral Reserves

Mineral Reserves greater at Waihi, in large part because of the preliminary Mineral Hold declaration at Wharekirauponga underground. An up to date Prefeasibility Find out about technical document in keeping with Nationwide Tool 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101”) was once excused on December 11, 2024.

Reserves on the Didipio greater by means of 0.14 Moz, nearest mine depletion, because of accumulation extensions at intensity in Panel 3 in addition to mine design optimization in Panel 1 and Panel 2 (Determine 1). Hold additions web of mining depletion additionally came about at Macraes, Waihi and the Haile underground. An build up in gold payment guess to $1,750 in step with ounce contributed to a minor build up in overall Reserves around the Corporate (see “Economic Factors” in Determine 1 under).

Notes:

• “Depletion” refers to 2024 mining depletion.
• “Reserve Model Updates” constitute drilling and/or type updates to accumulation or preliminary accumulation declarations.
• “Economic Factors” relate to gold payment, mining value and cut-off grade adjustments.
• “Adjustments” relate to adjustments no longer captured in alternative sections.

Mineral Assets

The Slow, Indicated and Inferred Mineral Useful resource estimates (inclusive of Mineral Reserves) as of December 31, 2024 are offered in Desk 2 under.

Desk 2: Slow and Indicated Assets as of 31 December, 2024 

• Mineral Assets are reported inclusive of Mineral Reserves. Mineral Assets that aren’t Mineral Reserves don’t have demonstrated financial viability.
• All sources are in line with please see guesses: steel costs of US$1,950/ounces gold, US$4.0/lb copper and US$23/ounces silver; NZD/USD alternate fee of 0.61.
• Noticeable Pit sources are constrained by means of shells primarily based upon financial guesses above. Waihi Noticeable Pit sources reported inside a pit design restricted by means of infrastructure issues. Haile Noticeable Pit sources reported inside accumulation design pit.
• Underground sources are reported inside volumes guided by means of optimized stope designs primarily based upon financial guesses above and exclude dilution.
• Haile Noticeable Pit number one cut-off grade is 0.50 g/t Au, pace oxide cut-off grade is 0.60 g/t Au. Palomino sources and Horseshoe sources cut-off grade is 1.50 g/t Au.
• For Didipio, the 15.8 Mt floor stockpile stock contains 5.3 Mt of low-grade shares mined at an approximate cut-off grade of 0.27 g/t AuEq.
• Didipio underground sources reported at a cut-off grade of 0.67 g/t AuEq between the two,460mRL and 1,965mRL with AuEq cut-off grade in line with offered gold and copper costs. AuEq = Au g/t + 1.39 x Cu %.
• Macraes: Noticeable Pits cut-off grade is 0.3 g/t Au. Blonde Level underground cut-off grade is 0.9 g/t Au.
• Waihi: Martha underground cut-off grade is two.15 g/t Au, Wharekirauponga cut-off grade is two.10 g/t Au, Martha Noticeable Pit cut-off grade is 0.5 g/t Au and Gladstone Noticeable Pit cut-off grade is 0.56 g/t Au.

The rise in Slow and Indicated Mineral Assets of 0.62 Moz, web of mining depletion, is in large part because of useful resource updates at Wharekirauponga underground at Waihi, a gold price-related pit growth for Innes Generators distinguishable pit at Macraes, and extensions for Horseshoe underground at Haile (Determine 2).

Notes:

• “Depletion” refers to 2024 mining depletion.
• “Resource Model Updates” constitute drilling and/or type updates to accumulation or preliminary accumulation declarations
• “Economic Factors” relate to gold payment, mining value and cut-off grade adjustments.
• “Adjustments” relate to adjustments no longer captured in alternative sections.

Decreases in Inferred Assets is because of conversion and mining depletion offset by means of gold price-related distinguishable pit expansions for Macraes (Determine 3).

Notes: See notes for determine 2

About OceanaGold

OceanaGold is a rising intermediate gold and copper manufacturer dedicated to securely and responsibly maximizing the date of Sovereign Money Tide from our operations and handing over sturdy returns for our shareholders. We’ve a portfolio of 4 working mines: the Haile Gold Mine in the USA of The us; Didipio Mine in the Philippines; and the Macraes and Waihi operations in Brandnew Zealand.

Notes to Mineral Reserves and Mineral Assets Estimates

All Mineral Reserves and Mineral Assets had been estimated as of December 31, 2024 and feature been ready in keeping with NI 43-101.

All tonnage, grade and contained steel content material estimates were rounded; rounding would possibly lead to obvious summation variations between tonnes, grade, and contained steel content material.

Mineral Assets are reported inclusive of Mineral Reserves. Mineral Assets that aren’t Mineral Reserves don’t have demonstrated financial viability. It’s somewhat anticipated that almost all of Inferred Mineral Assets might be upgraded to Indicated Mineral Assets with persevered exploration.

The updates to the Mineral Assets estimate for Haile distinguishable pit and underground were verified and authorized by means of, or are in line with knowledge ready by means of, or underneath the supervision of, J. Moore, the Corporate’s Head of Useful resource Building. The updates to the Mineral Reserves estimate for Haile distinguishable pits were verified and authorized by means of, or are in line with knowledge ready by means of, or underneath the supervision of, D. Londono, the Corporate’s Govt Vice President and Prominent Running Officer Americas, and the Mineral Reserves estimate for Haile underground has been verified and authorized by means of or is primarily based upon knowledge ready by means of, or underneath the supervision of, B. Drury, Superintendent- Engineering Products and services (underground), Haile.

The Mineral Assets estimate for Didipio has been verified and authorized by means of, or is in line with knowledge ready by means of, or underneath the supervision of, J. Moore, pace the Mineral Reserves estimate for Didipio underground has been verified and authorized by means of or is primarily based upon knowledge ready by means of, or underneath the supervision of, P. Jones, the Corporate’s Head of Underground Mining. 

Any updates to the Mineral Assets estimate for Macraes distinguishable pits were verified and authorized by means of, or are in line with knowledge ready by means of, or underneath the supervision of, J. Moore. The updates to the Mineral Assets estimate for Macraes underground operations were verified and authorized by means of, or are in line with knowledge ready by means of, or underneath the supervision of, M. Provide, the Corporate’s Senior Geologist – Useful resource Building, Macraes. The Mineral Reserves estimate for Macraes distinguishable pits has been verified and authorized by means of, or is in line with knowledge ready by means of, or underneath the supervision of, Ok. Madambi, the Corporate’s Supervisor – Technical Products and services & Initiatives, Macraes. The Mineral Reserves estimate for Macraes underground has been verified and authorized by means of, or is primarily based upon knowledge ready by means of, or underneath the supervision of, E. Leslie, the Corporate’s Team Mining Engineer.

Any updates to the Mineral Assets estimate for Waihi’s Wharekirauponga underground, Martha underground, Gladstone distinguishable pit and Martha Noticeable Pit were verified and authorized by means of, or are in line with knowledge ready by means of, or underneath the supervision of, L. Crawford-Flett, the Corporate’s Supervisor –  Exploration and Geology, Waihi. The Mineral Reserves estimates for the Martha underground, Waihi underground has been verified and authorized by means of, or is in line with knowledge ready by means of, or underneath the supervision of, D. Townsend, the Corporate’s Supervisor – Mining (Underground), Waihi. The Mineral Reserves estimate for the Wharekirauponga underground has been verified and authorized by means of, or is primarily based upon knowledge ready by means of, or underneath the supervision of, E. Leslie, the Corporate’s Team Mining Engineer.

All such individuals famous above are “qualified persons” for the needs of NI 43-101. D. Londono is a registered member of the Public of Mining Engineers with the Public of Mining, Metallurgy & Exploration. Messrs Crawford-Flett, Madambi, Jones, Leslie, Moore and Townsend are Contributors and Chartered Execs with the Australasian Institute of Mining and Metallurgy. M. Provide is a member of the Australian Institute of Geoscientists. B. Drury is a Registered Member with the Public of Mining, Metallurgy & Exploration.

For additional medical and technical knowledge supporting the disclosure on this information leave (together with disclosure relating to Mineral Assets and Mineral Reserves, information verification, key guesses, parameters, modes old to estimate the Mineral Assets and Mineral Reserves, and dangers and alternative components), please the following please see NI 43-101 technical studies to be had at the SEDAR+ web page at www.sedarplus.com underneath the Corporate’s identify:

Cautionary Observation Referring to Mineral Assets and Mineral Reserves

The disclosure on this information leave has been ready in keeping with NI 43-101, which differs considerably from the necessities of the USA Securities and Change Fee (“SEC”), and useful resource and accumulation knowledge contained or referenced on this information leave will not be similar to indistinguishable knowledge disclosed by means of nation corporations topic to the technical disclosure necessities of the SEC. Historic effects or feasibility fashions offered herein aren’t promises or expectancies of occasion efficiency.

Cautionary Observation Referring to Ahead-Having a look Data

Sure knowledge contained on this information leave is also deemed “forward-looking” inside the that means of appropriate securities rules. All statements alternative than statements of ancient information incorporated on this information leave represent forward-looking statements, together with however no longer restricted to, the estimation of Mineral Reserves and Mineral Assets, the conclusion of Mineral Reserves and Mineral Assets estimates, estimates of exploration expenditures, prices and timing of occasion exploration techniques and data on the subject of occasion efficiency and replicate the Corporate’s expectancies in regards to the execution of industrial technique, occasion expansion, estimated prices, result of operations, trade possibilities and alternatives of OceanaGold and its connected subsidiaries. Any statements that categorical or contain discussions with recognize to predictions, expectancies, ideals, plans, projections, targets, guesses or occasion occasions or efficiency (steadily, however no longer at all times, the use of phrases or words akin to “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “estimates” or “intends”, or mentioning that positive movements, occasions or effects “may”, “could”, “would”, “might” or “will” be taken, happen or be accomplished) aren’t statements of ancient reality and is also forward-looking statements. Ahead-looking statements are topic to a lot of dangers and uncertainties which might motive untouched occasions or effects to range materially from the ones expressed within the forward-looking statements and data, together with, amongst others, the accuracy of Mineral Hold and Mineral Useful resource estimates and connected guesses, inherent working dangers and the ones possibility components known within the Corporate’s most up-to-date Annual Data Method ready and filed with securities regulators, which is to be had on SEDAR+ at www.sedarplus.com underneath the Corporate’s identify. There are not any promises the Corporate can fulfil forward-looking statements and data. Such forward-looking statements and data are best predictions in line with stream knowledge to be had to control as of the week that such predictions are made; untouched occasions or effects would possibly range materially because of dangers going through the Corporate, a few of which might be past the Corporate’s keep an eye on.  Even supposing the Corporate believes that any forward-looking statements and data contained on this information leave is in line with cheap guesses, readers can’t be confident that untouched results or effects can be in keeping with such statements. Accordingly, readers will have to no longer park undue reliance on forward-looking statements and data.

The Corporate expressly disclaims any goal or legal responsibility to replace or revise any forward-looking statements and data, whether or not because of unutilized knowledge, occasions or in a different way, excluding as required by means of appropriate securities rules.

SOURCE OceanaGold Company