Provides Notice of Release of Second Quarter Financial Results

(All amounts are in U.S. dollars unless otherwise indicated)

TORONTO, July 11, 2023 /CNW/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) reports strong second quarter operational results for the Company as of June 30, 2023. The Company is also providing notice that it will release its second quarter 2023 financial results after market close on Wednesday, July 26, 2023. The Company will host its second quarter 2023 earnings conference call and webcast on Thursday, July 27, 2023 at 8:30 am Eastern Time.

"We had another excellent quarter, delivering gold equivalent production of 102,374 ounces, a 45% increase over the prior year period," stated Patrick Godin, President & CEO. "At Rainy River, strong quarterly production results were attributed to higher mill availability due to the team's proactive measures taken during the planned maintenance activities. In addition to a great operating quarter, we continued to make meaningful progress advancing our growth initiatives, securing the future production of our Company. C-Zone development at New Afton continued and remains on-track for first ore production in the fourth quarter of this year, and development of the underground Main Zone at Rainy River has commenced as planned. Continuity is key to our success, and as evidenced from our strong first half results, both the Rainy River and New Afton teams are delivering. As a result, we remain well positioned to meet all annual production guidance metrics outlined earlier this year."

Operational Highlights

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