Underground Mining Activities at New Afton Mine Have Resumed

TORONTO, Aug. 11, 2023 /CNW/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) confirms the structural integrity of the New Afton tailings storage facility and announces resumption of all underground mining activities at its New Afton Mine, located in Kamloops B.C.

As previously mentioned, during regular inspections of the New Afton Tailings Storage Facility ("NATSF") completed on August 9th, visual geotechnical variances were observed that required further review by the Engineer of Record ("EOR"). The Company acted promptly, advising the relevant authorities, and proactively suspending underground mining activities with health, safety and the wellbeing of our employees, contractors, and communities as our top priority. The EOR completed a thorough review on August 10th and confirmed that the NATSF structural integrity and behavior is normal and expected.

On the evening of August 10th, the Company resumed normal underground mining activities on site. Milling operations were unaffected during this period and in-pit tailings deposition continued as planned. New Afton remains well positioned to meet all annual production and cost guidance metrics as set out earlier in the year. C-Zone remains well positioned for first production ore in the fourth quarter, with commercial production planned for the second half of 2024.

New Afton Conference Call and Webcast
The Company has scheduled a conference call and webcast for Friday, August 11, 2023 at 8:00 am Eastern Time.

Participants may listen to the webcast by registering on our website at www.newgold.com or via the following link https://app.webinar.net/9pPe396QWko
Participants may also listen to the conference call by calling North American toll free 1-888-664-6383, or 1-416-764-8650 outside of the U.S. and Canada, passcode 565379
To join the conference call without operator assistance, you may register and enter your phone number at https://emportal.ink/3KCS2tI to receive an instant automated call back
A recorded playback of the conference call will be available until September 9, 2023 by calling North American toll free 1-888-390-0541, or 1-416-764-8677 outside of the U.S. and Canada, passcode 565379. An archived webcast will also be available at www.newgold.com
About New Gold
New Gold is a Canadian-focused intermediate mining company with a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds other Canadian-focused investments. New Gold's vision is to build a leading diversified intermediate gold company based in Canada that is committed to the environment and social responsibility. For further information on the Company, visit www.newgold.com.

Cautionary Note Regarding Forward-Looking Statements
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