(All financial figures in US Dollars unless otherwise stated)
(MELBOURNE) OceanaGold Corporation (TSX/ASX: OGC) (the “Company”) is pleased to release its full year 2017 financial and operational results for the year ended 31 December 2017. This follows the Company’s release of its operational results on 18 January 2018. Details of the consolidated financial statements and the Management Discussion and Analysis (“MD&A”) are available on the Company’s website at www.oceanagold.com
Key Highlights
? Record full year net profit of $172 million including a record quarterly net profit of $89 million.
? Record full year revenue of $724 million including a record quarterly revenue of $246 million.
? EBITDA of $408 million for the full year including $149 million in the fourth quarter.
? Net debt reduced by $88 million in the fourth quarter with debt repayments amounting to $78 million.
? Total liquidity increased to $103 million including an increase in the cash balance from $61 million to $73 million.
? Second semi-annual dividend for 2017 of $0.01 per share paid in the fourth quarter.
? Subsequent to year-end, declared the first semi-annual dividend for 2018 of $0.01 per share payable in April 2018.
? Continued successful exploration results achieved at Waihi.
Mick Wilkes, President and CEO said, “I’m pleased to report another strong year of financial results with a record net profit and revenue that were underpinned by a record year for production at sector leading margins. The fourth quarter delivered significant results for the Company including Haile which contributed strongly on the back of a solid operational performance where the process plant achieved throughput rates higher than nameplate and recoveries averaging 83%.” He added, “On the back of the significant cash flow generation from our suite of high-quality assets, the Company continued to strengthen its balance sheet. In the fourth quarter alone, we increased our cash balance from $61 million to $73 million while reducing our revolving credit facility from $273 million to $200 million.”

“In 2017, OceanaGold delivered sector leading EBITDA margin of 56% while achieving a return on investment capital of 10% which marked the eighth straight year of positive returns; one of only two gold companies to do so.”
“We are well positioned to continue to deliver strong margins and returns to shareholders in 2018. The solid cash flow generation expected from the business provides us with financial flexibility and allows us to continue reducing debt, returning wealth to shareholders in the form of dividends and reinvest in the business’ organic growth opportunities including the Haile expansion and Waihi mine life extension. We have a robust business that has been deliberately set up to deliver long-term value in almost any gold commodity price environment.”

Table 1 – Production and Cost Results Summary Haile Didipio Waihi Macraes Consolidated Fourth Quarter 2017 Results Q4 2017 Q3 2017
Gold Produced Ounces 50,134 39,256 31,761 45,060 166,211 136,043
Copper Produced Tonnes – 3,687 – – 3,687 4,387
Gold Sales Ounces 49,265 43,345 30,054 45,922 168,586
131,071 Copper Sales Tonnes – 4,842 – – 4,842 3,273 Cash Costs $ per ounce 272 (72) 436 593 300 416 All-In Sustaining Costs (1) $ per ounce 509 155 680 933 564 748 Full Year 2017 Results (2) 2017 2016
Gold Produced Ounces 118,466 176,790 119,084 160,266 574,606 416,741
Copper Produced Tonnes – 18,351 – – 18,351 21,123
Gold Sales Ounces 109,532 167,653 117,721 160,726 555,632 437,146
Copper Sales Tonnes – 18,091 – – 18,091 21,413
Cash Costs $ per ounce 272 (92) 471 737 347 452
All-In Sustaining Costs (1) $ per ounce 509 70 759 1,115 617 708

Notes:
1. AISC for Haile, and the consolidated group, includes only the period post declaration of commencement of commercial operations at Haile (effective from October 1, 2017). In the nine months to September 30, 2017, all Haile revenue and costs were capitalised.
2. Full year 2017 consolidated gold production and sales reflect full year production and sales volumes from Haile.

Dividend
In the fourth quarter, the Company paid the second semi-annual ordinary dividend for 2017 of $0.01 per share for aggregate net proceeds of $12 million for the full year. Subsequent to the year end, the OceanaGold Board of Directors declared the first semi-annual ordinary dividend for 2018 of $0.01 per share.
Shareholders of record at the close of business in each jurisdiction on 8 March 2018 (the “Record Date”) will be entitled to receive payment of the dividend on 27 April 2018. The dividend payment applies to holders of record of the Company’s common shares traded on the Toronto Stock Exchange and holders of CHESS depository interests traded on the Australian Securities Exchange ("CDIs").
Table 3 – Dividend Key Dates Date Last date for processing requests to convert securities between stock exchanges before the Record Date1 Monday, 5 March 2018 Shares trade on an ex-dividend basis Tuesday, 6 March 2018 Record Date Thursday, 8 March 2018 Processing recommences for requests to convert securities between stock exchanges1 Friday, 9 March 2018 Dividend Payment Date Friday, 27 April 2018
This year, at the election of the security holder, the Company will pay the dividend in US Dollars, Australian Dollars, New Zealand Dollars or British Pounds Sterling for ASX listed CDIs, and US Dollars, Canadian Dollars or British Pounds Sterling for TSX listed common shares. Please refer to the end of this media release for important information relating to Australian income tax and Canadian withholding tax.

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