(All amounts are in U.S. dollars unless otherwise indicated)
April 13, 2021 – New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD) reports in-line first quarter
operational results for the Company as of March 31, 2021 and provides an early-stage exploration update. The Company is also
providing details for the first quarter earnings conference call and webcast that is scheduled for May 5, 2021 at 8:30 am Eastern
Time (details are provided at the end of this news release).
New Gold begins 2021 as a much stronger company with a growing production profile from the Rainy River Mine at lower costs,
as deferred capital projects have been completed and the mine transitions to generating free cash flow. Following the receipt of
the Mines Act permit, the New Afton B3 zone will begin production in the second quarter while current mining operations at New
Afton continue to ramp-up following the tragic mud-rush incident in February. The focus in 2021 remains on further operational
and cost optimizations at both Rainy River and New Afton, launching B3 production, advancing C-Zone development at New
Afton, and following up on key targets from the exploration drilling programs.
“During the quarter, the Rainy River Mine delivered to plan. Waste stripping was strategically prioritized during the winter months,
which will set the mine up for higher grades and a stronger production profile in the second half of the year. The New Afton Mine
continues to safely and sequentially ramp-up operations and we look forward to initiating ore extraction from the B3 zone. I am
very proud of the progress the team has made at New Afton, and coupled with the execution at Rainy River, we remain on-track
to achieve our annual guidance estimates,” stated Renaud Adams, President & CEO. “Late last year, we re-launched exploration
drilling programs at both operations after an extended period of inactivity. We are encouraged by the early-stage results to date.”
Consolidated First Quarter and Recent Highlights
• Total production for the first quarter was 96,026 gold equivalent1
("gold eq.") ounces (66,650 ounces of gold, 187,224 ounces
of silver and 13.8 million pounds of copper), in-line with plan.
• The Rainy River Mine produced 56,513 gold eq. ounces (54,656 ounces of gold and 133,730 ounces of silver) for the quarter,
in-line with plan.
• The New Afton Mine produced 39,512 gold eq. ounces (11,994 ounces of gold and 13.8 million pounds of copper) for the
quarter, slightly below plan, as underground mining operations continue to be safely and sequentially ramped-up following the
tragic mud-rush incident on February 2, 2021. (Refer to the Company's news releases dated February 2, 4, 5, and 8, 2021 for
further information).
• Anne Day, Vice President, Investor Relations will leave the Company June 30, 2021, and all Investor Relations responsibilities
are now being assumed by Ankit Shah, Vice President, Strategy & Business Development.
Consolidated First Quarter Operational Results
Q1 2021 2021 Guidance
Gold eq. production (ounces)1 96,026 440,000 – 490,000
Gold production (ounces) 66,650 322,000 – 352,000
Copper production (Mlbs) 13.8 56 – 66
1. 1. Total gold eq. ounces include silver and copper produced converted to a gold eq. based on a ratio of $1,800 per gold ounce, $25.00 per silver ounce and $3.50 per copper pound used for
2021 guidance estimates. All copper is produced by the New Afton Mine.

1. See "Non-GAAP Measures" section of this news release

Rainy River Mine Highlights
Rainy River Mine Q1 2021 2021 Guidance
Gold eq. production (ounces)1 56,513 275,000 – 295,000
Gold eq. sold (ounces) 53,577
Gold production (ounces) 54,656 270,000 – 290,000
Gold sold (ounces) 51,796
1. Gold eq. ounces for Rainy River in Q1 2021 includes 133,730 ounces of silver converted to a gold eq. based on a ratio of $1,800 per gold ounce and $25.00 per silver ounce used for 2021
guidance estimates.


see & reead more on
https://s2.q4cdn.com/351510513/files/04-13-2021-Q1-2021-Production-Preview-vFinal.pdf