Rainy River Gold Mine

New Gold restarting Rainy River - Mining Journal - rainy river gold mine

TORONTO–(BUSINESS WIRE)–January 14, 2021- New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD) letters fourth division and anniversary operational after-effects for the Aggregation as of December 31, 2020, accomplishing the mid-range of the revised anniversary assembly advice (refer to the Company’s July 30, 2020 account absolution for added information). An antithesis appointment alarm and webcast will be captivated on February 19, 2021 alpha at 8:30 am Eastern Time to altercate the fourth division banking after-effects (details provided at the end of this account release). All amounts are in U.S. dollars unless contrarily indicated.

New Gold suspends Rainy River - Mining Journal

New Gold suspends Rainy River – Mining Journal | rainy river gold mine

New Gold suspends Rainy River - Mining Journal - rainy river gold mine
New Gold Inc. - Assets - Rainy River

New Gold Inc. – Assets – Rainy River | rainy river gold mine

New Gold reduces Rainy River mine life - Mining Journal

New Gold reduces Rainy River mine life – Mining Journal | rainy river gold mine

New Gold: Running The Numbers On Rainy River (Once Again) (NYSEMKT

New Gold: Running The Numbers On Rainy River (Once Again) (NYSEMKT | rainy river gold mine

New Gold Inc. - Assets - Rainy River - rainy river gold mine

The Rainy River Abundance accomplished the college end of the revised anniversary gold agnate production1 advice and connected to meet, or exceed, all key operational and bulk targets. All deferred architecture basic has been completed and the Rainy River Abundance is now positioned for able assembly beforehand at lower costs and college margins that will drive able chargeless banknote breeze bearing over the action of the mine.

The New Afton Abundance accomplished the mid-range of the revised anniversary gold agnate assembly advice (copper assembly accomplished the mid-range and gold assembly accomplished the lower end). Operational achievement connected to beforehand over the above-mentioned division and benefited from the stronger chestnut prices accomplished during the quarter. A cardinal conduct affairs was launched in October to alleviate the epithermal and porphyry abeyant of the Cherry Creek trend as able-bodied as added abreast abundance targets.

Sustainability and ESG

New Gold has four key areas of focus: Water, Climate, Indigenous Peoples and Tailings Management. In 2020, New Gold refocused its sustainability efforts to adjust with the best acute ESG advertisement issues adverse the industry. We accept adopted an embedded, systems-based admission to assassinate on our sustainability action that aligns with ESG all-around standards alpha in 2021.

Consolidated Fourth Division Highlights

1. Accredit to the “Non-GAAP Banking Achievement Measures” area of this columnist release.

“During the year, we repositioned the Aggregation for abiding success as we alteration to chargeless banknote breeze bearing in 2021. We bigger our operational and bulk performance, accomplished on our cardinal basic plans, restructured our antithesis area and bigger our clamminess position and we accept confused our focus to active added operational and bulk optimizations at both our assets. We activate the new year as a abundant stronger aggregation with a growing, higher-margin assembly profile, and afterward the cessation of our gold hedges at the end of 2020, we are now absolutely apparent to the college gold amount as able-bodied as the stronger chestnut price.” declared Renaud Adams, CEO. “The Rainy River Abundance is now entering a appearance of able assembly beforehand and chargeless banknote breeze bearing and has the abeyant to extend the action of the underground mine. At the New Afton Mine, we abide to beforehand all key B3/C-Zone projects on a self-funded base that will position this asset for a able-bodied chargeless banknote breeze beck as the C-Zone begins assembly in the closing allotment of 2023. We accept launched assay conduct programs at both assets that could admission our adeptness account and potentially extend abundance life.”

Consolidated Fourth Division Operational Results

 

Q4 2020

FY 2020

2020 Revised Consolidated Guidance

Gold eq. assembly (ounces)1

120,567

437,617

415,000 – 455,000

Gold assembly (ounces)

83,096

293,139

284,000 – 304,000

Copper assembly (Mlbs)

18.5

72.1

65 – 75

Average accomplished gold price, per ounce2

1,623

1,559

Average accomplished chestnut price, per pound2

3.34

2.86

Rainy River Abundance Highlights

Rainy River Mine

Q4 2020

FY 2020

2020 Revised Guidance

Gold eq. assembly (ounces)1

68,241

233,201

225,000 – 235,000

Gold eq. awash (ounces)

72,279

235,416

Gold assembly (ounces)

66,734

228,919

222,000 – 232,000

Gold awash (ounces)

70,675

231,112

Average accomplished gold price, per ounce2

1,624

1,561

Rainy River Operating KPI’s

Rainy River Mine

FY 2019

Q1 2020

Q2 2020

Q3 2020

Q4 2020

FY 2020

Tonnes mined per day (ore and waste)

118,404

127,684

126,512

New Gold restarting Rainy River - Mining Journal

New Gold restarting Rainy River – Mining Journal | rainy river gold mine

145,701

158,638

139,702

Ore tonnes mined per day

18,712

26,012

23,101

36,515

42,918

32,178

Operating decay tonnes per day

73,702

75,596

72,575

62,818

73,921

71,212

Capitalized decay tonnes per day

25,990

26,077

30,836

46,368

41,799

36,313

Total decay tonnes per day

99,692

101,673

103,411

109,186

115,720

107,525

Strip arrangement (waste: ore)

5.33

3.91

4.48

2.99

2.70

3.34

Tonnes formed per agenda day

21,980

18,441

23,880

26,998

26,999

24,096

Gold brand formed (g/t)

1.08

1.03

0.78

0.88

0.93

0.90

Gold accretion (%)

91

90

89

89

90

90

Mill availability (%)

88

91

90

90

94

91

Gold assembly (oz)

253,772

50,381

48,800

63,004

66,734

228,919

Gold eq. production1 (oz)

257,051

51,106

49,633

64,221

68,241

233,201

The Rainy River Abundance has accomplished the college end of the revised anniversary gold eq. assembly guidance. Operating costs and banknote costs are accepted to be beneath revised anniversary guidance, primarily due to lower mining costs during the year as able-bodied as college assembly and sales. All-in comestible costs (“AISC”) are accepted to be beneath the revised anniversary advice due to lower operating costs and comestible basic spend. Comestible basic is tracking to accomplish the lower end of the revised anniversary advice estimates, primarily due to accomplished accumulation accompanying to Tailings Administration Area (TMA) construction.

New Afton Abundance Operational Highlights

New Afton Mine

Q4 2020

FY 2020

2020 Revised Guidance

Gold eq. assembly (ounces) 1

52,326

204,416

190,000 – 220, 000

Gold eq. awash (ounces)

49,860

192,953

Gold assembly (ounces)

16,362

64,220

62,000 – 72,000

Gold awash (ounces)

15,817

60,765

Copper assembly (Mlbs)

18.5

72.1

65 – 75

Copper awash (Mlbs)

17.5

68.0

Average accomplished gold price, per ounce2

1,621

1,553

Average accomplished chestnut price, per pound2

3.34

2.86

New Afton Operating KPI’s

New Afton Mine

FY 2019

Q1 2020

Q2 2020

Q3 2020

Q4 2020

FY 2020

Tonnes mined per day (ore and waste)

15,620

16,727

15,358

17,249

17,259

16,652

Tonnes formed per agenda day

15,300

15,377

14,240

15,483

15,358

15,116

Gold brand formed (g/t)

0.47

0.45

0.46

0.44

0.46

0.45

Gold accretion (%)

82

81

81

80

79

80

Gold assembly (oz)

68,785

16,409

15,494

15,955

16,362

64,220

Copper brand formed (%)

0.78

0.73

0.72

0.71

0.73

0.72

Copper accretion (%)

83

82

83

82

81

82

Copper assembly (Mlbs)

79.4

18.5

16.9

18.2

18.5

72.1

Mill availability (%)

97

98

92

98

99

97

Gold eq. production1 (oz)

229,091

52,329

48,446

51,315

52,326

204,416

The New Afton Abundance accomplished the mid-range of the revised anniversary gold eq. assembly guidance. Operating amount and banknote costs are accepted to accomplish the lower end of the revised advice and AISC are accepted to be at, or hardly below, the low end of the revised anniversary guidance, primarily due to lower comestible basic spend. Comestible basic is accepted to be at, or hardly below, the low end of the revised anniversary advice and beforehand basic is accepted to be at the mid-range of revised anniversary guidance.

Fourth Division Appointment Alarm and Webcast

The Aggregation will host an antithesis alarm and webcast on Thursday, February 19, 2021 at 08:30 AM Eastern Time to altercate the banking results. Accommodation are provided below:

About New Gold Inc. New Gold is a Canadian-focused average gold mining aggregation with a portfolio of two amount bearing assets in Canada, the Rainy River and New Afton Mines. The Aggregation additionally holds an 8% gold beck on the Artemis Gold Blackwater action amid in British Columbia and a 6% disinterestedness pale in Artemis. The Aggregation additionally operates the Cerro San Pedro Abundance in Mexico (in reclamation). New Gold’s eyes is to body a arch adapted average gold aggregation based in Canada that is committed to ambiance and amusing responsibility. For added advice on the Company, appointment www.newgold.com.

Cautionary Note Apropos Forward-Looking Statements Assertive advice independent in this account release, including any advice apropos to New Gold’s approaching banking or operating achievement are “forward looking”. All statements in this account release, added than statements of absolute fact, which abode events, results, outcomes or developments that New Gold expects to action are “forward-looking statements”. Advanced statements are statements that are not absolute facts and are generally, but not always, articular by the use of advanced analogue such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “targeted”, “estimates”, “forecasts”, “intends”, “anticipates”, “projects”, “potential”, “believes” or variations of such words and phrases or statements that assertive actions, contest or after-effects “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur” or “be achieved” or the abrogating association of such terms. Advanced statements in this account absolution include, amid others, statements with account to: the Company’s affairs to abound assembly and accomplish chargeless banknote flow; the Company’s assembly and sales; the Company’s banknote costs, all-in-sustaining costs and operational expenses; the Company’s affairs to optimize operations and costs at its assets and affairs to extend the action of abundance of the Rainy River Abundance and the New Afton Mine; the timing of achievement for basic projects at Rainy River Abundance and the New Afton Mine; the timing and ambit of assay conduct programs at the Rainy River Mine, the New Afton Abundance and Cherry Creek; and the timing of cancellation of permits at the New Afton Mine.

All advanced statements in this account absolution are based on the opinions and estimates of administration as of the date such statements are fabricated and are accountable to important accident factors and uncertainties, abounding of which are above New Gold’s adeptness to ascendancy or predict. Assertive absolute assumptions apropos such advanced statements are discussed in this account release, New Gold’s latest anniversary management’s altercation and assay (“MD&A”), its best contempo anniversary advice anatomy and abstruse letters on the Rainy River Abundance and New Afton Abundance filed at www.sedar.com and on EDGAR at www.sec.gov. In accession to, and accountable to, such assumptions discussed in added detail elsewhere, the advanced statements in this account absolution are additionally accountable to the afterward assumptions: (1) there actuality no cogent disruptions affecting New Gold’s operations added than as set out herein; (2) political and acknowledged developments in jurisdictions area New Gold operates, or may in the approaching operate, actuality constant with New Gold’s accepted expectations; (3) the accurateness of New Gold’s accepted mineral assets and mineral adeptness estimates; (4) the barter amount amid the Canadian dollar and U.S. dollar, and to a bottom extent, the Mexican Peso, actuality about constant with accepted levels; (5) prices for diesel, accustomed gas, ammunition oil, electricity and added key food actuality about constant with accepted levels; (6) equipment, labour and abstracts costs accretion on a base constant with New Gold’s accepted expectations; (7) arrange with Aboriginal Nations and added Aboriginal groups in account of the New Afton Abundance and Rainy River Abundance actuality constant with New Gold’s accepted expectations, decidedly in the ambience of the beginning of COVID-19; (8) all appropriate permits, licenses and authorizations actuality acquired from the accordant governments and added accordant stakeholders aural the accepted timelines and the absence of absolute abrogating comments during the applicative authoritative processes; (9) there actuality no new cases of COVID-19 in the Company’s workforce at either the Rainy River or New Afton Abundance and the acceptance that no added associates of the workforce are accepted to be appropriate to self-isolate due to cross-border biking to the United States or any added country; (10) the responses of the accordant governments to the COVID-19 beginning actuality acceptable to accommodate the appulse of the COVID-19 outbreak; (11) there actuality no absolute disruption to the Company’s accumulation chains and workforce that would baffle with the Company’s advancing advance of action at the Rainy River Abundance and the analytical ramp-up of operations; (12) the abiding bread-and-butter furnishings of the COVID-19 beginning not accepting a absolute adverse appulse on the Company’s operations or clamminess position; and (13) Artemis Gold Inc. actuality able to complete the absolute C$50 actor banknote acquittal due on August 24, 2021 for the accretion of the Blackwater project.

Forward-looking statements are necessarily based on estimates and assumptions that are inherently accountable to accepted and alien risks, uncertainties and added factors that may account absolute results, akin of activity, achievement or achievements to be materially altered from those bidding or adumbrated by such advanced statements. Such factors include, after limitation: cogent basic requirements and the availability and administration of basic resources; added allotment requirements; amount animation in the atom and advanced markets for metals and added commodities; fluctuations in the all-embracing bill markets and in the ante of barter of the currencies of Canada, the United States and, to a bottom extent, Mexico; discrepancies amid absolute and estimated production, amid absolute and estimated mineral affluence and mineral assets and amid absolute and estimated metallurgical recoveries; risks accompanying to aboriginal assembly at the Rainy River Mine, including abortion of equipment, machinery, the action ambit or added processes to accomplish as advised or intended; aberration in analysis and adorning charges; changes in civic and bounded government legislation in Canada, the United States and, to a bottom extent, Mexico or any added country in which New Gold currently or may in the approaching backpack on business; taxation; controls, regulations and political or bread-and-butter developments in the countries in which New Gold does or may backpack on business; the abstract attributes of mineral assay and development, including the risks of accepting and advancement the authority and enforceability of the all-important licenses and permits and acknowledging with the allowing requirements of anniversary administration in which New Gold operates, the abridgement of authoritativeness with account to adopted acknowledged systems, which may not be allowed from the access of political pressure, bribery or added factors that are inconsistent with the aphorism of law; the uncertainties inherent to accepted and approaching acknowledged challenges New Gold is or may become a affair to; abbreviating quantities or grades of mineral affluence and mineral resources; competition; accident of key employees; ascent costs of labour, supplies, ammunition and equipment; absolute after-effects of accepted assay or affirmation activities; uncertainties inherent to mining bread-and-butter studies; changes in action ambit as affairs abide to be refined; accidents; labour disputes; abnormal appellation to mineral claims or acreage or contests over claims to mineral properties; abrupt delays and costs inherent to consulting and all-around rights of Indigenous groups; risks, uncertainties and hasty delays associated with accepting and advancement all-important licenses, permits and authorizations and acknowledging with allowing requirements; there actuality cases of COVID-19 in the Company’s workforce at either the Rainy River or New Afton Mine, or both; the Company’s workforce at either the Rainy River Abundance or the New Afton Mine, or both, actuality appropriate to self-isolate due to cross-border biking to the United States or any added country; the responses of the accordant governments to the COVID-19 beginning not actuality acceptable to accommodate the appulse of the COVID-19 outbreak; disruptions to the Company’s accumulation alternation and workforce due to the COVID-19 outbreak; an bread-and-butter recession or abatement as a aftereffect of the COVID-19 beginning that materially abnormally affects the Company’s operations or clamminess position; there actuality added shutdowns at the Rainy River or New Afton Mines; the Aggregation not actuality able to complete its architecture projects at the Rainy River Abundance or the New Afton Mines on the timing declared herein or at all; the Aggregation not actuality able to complete the assay conduct affairs to be launched at the Rainy River Abundance and Cherry Creek on the timing declared herein or at all; Artemis Gold Inc. not actuality able to accomplish the absolute C$50 actor banknote acquittal due on August 24, 2021. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including ecology contest and hazards, automated accidents, abnormal or abrupt formations, pressures, cave-ins, calamity and gold banknote losses (and the accident of bare allowance or disability to access allowance to awning these risks) as able-bodied as “Risk Factors” included in New Gold’s Anniversary Advice Form, MD&A and added acknowledgment abstracts filed on and accessible at www.sedar.com and on EDGAR at www.sec.gov. Advanced attractive statements are not guarantees of approaching performance, and absolute after-effects and approaching contest could materially alter from those advancing in such statements. All advanced statements independent in this account absolution are able by these cautionary statements. New Gold especially disclaims any ambition or obligation to amend or alter any advanced statements whether as a aftereffect of new information, contest or otherwise, except in accordance with applicative balance laws.

Non-GAAP Banking Achievement Measures

Average Accomplished Amount “Average accomplished amount per ounce or batter sold” is a non-GAAP banking admeasurement with no accepted acceptation beneath IFRS. Administration uses this admeasurement to bigger accept the amount accomplished in anniversary advertisement aeon for gold, silver, and chestnut sales. Boilerplate accomplished amount is advised to accommodate added advice alone and does not accept any connected analogue beneath IFRS; it should not be advised in abreast or as a acting for measures of achievement able in accordance with IFRS. Added companies may account this admeasurement abnormally and this admeasurement is absurd to be commensurable to agnate measures presented by added companies.

Technical Advice The accurate and abstruse advice independent herein has been advised and accustomed by Eric Vinet, Chief Vice President, Operations of New Gold. Mr. Vinet is a Professional Engineer and affiliate of the Ordre des ingénieurs du Québec. He is a “Qualified Person” for the purposes of Civic Instrument 43-101 – Standards of Acknowledgment for Mineral Projects.

Rainy River Gold Mine – rainy river gold mine
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New Gold suspends Rainy River - Mining Journal - rainy river gold mineNew Gold reduces Rainy River mine life - Mining Journal - rainy river gold mineNew Gold: Running The Numbers On Rainy River (Once Again) (NYSEMKT  - rainy river gold mineNew Gold restarting Rainy River - Mining Journal - rainy river gold mineNew Gold Inc. - Assets - Rainy River - rainy river gold mine

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