New Gold Reports Second Quarter Operational Results

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Overig advies 16/07/2021 06:58
- Provides Notice of Release of Second Quarter Financial Results
(All amounts are in U.S. dollars unless otherwise indicated)

TORONTO, July 15, 2021 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) and (NYSE American: NGD) reports second quarter operational results for the Company as of June 30, 2021. The Company is also providing notice that it will release its second quarter 2021 financial results before market on Wednesday, August 11, 2021. A conference call and webcast will follow at 8:30 am Eastern Time (details are provided at the end of this news release).

"Our operations continued to advance their primary objectives during the quarter. Rainy River had another solid operational quarter and is positioned to have a stronger second half of production. As we start the third quarter, the mine has now successfully transitioned from focusing on stripping, and we are now seeing a marked improvement in grades through the first half of July. At New Afton, mining rates were up more than 30% over the first quarter as underground operations returned to pre-incident levels. With the B3 permit now in hand, the focus shifts to a safe execution of the extraction of the B3 zone during the second half of the year," stated Renaud Adams, President & CEO. "Lastly, I would like to highlight the publication of our 2020 Sustainability Report in the quarter. Sustainability and our approach to pressing ESG issues remain central to our success, and I am very proud of the work our team has done to deliver this report."

Second Quarter Highlights

Total production was 105,705 gold equivalent1 ("gold eq.") ounces (66,989 ounces of gold, 240,029 ounces of silver and 18.2 million pounds of copper)
The Rainy River Mine produced 55,163 gold eq.1 ounces (52,901 ounces of gold and 162,879 ounces of silver)
The New Afton Mine produced 50,542 gold eq.1 ounces (14,088 ounces of gold and 18.2 million pounds of copper)
During the quarter, the Company announced that the Mines Act permit enabling mining of the B3 zone was issued by the Ministry of Energy, Mines and Low Carbon innovation (refer to the Company's May 25, 2021 news release for further information)
The Company's 2020 Sustainability Report was published on June 4, 2021, and can be found on the New Gold website
At the end of the quarter, the Company had a cash position of $138 million and a strong liquidity position of $464 million
Consolidated Operational Highlights

Q2 2021 Q2 2020 H1 2021 H1 2020

Gold eq. production (ounces)1 105,705 98,079 201,731 201,514
Gold production (ounces) 66,989 64,294 133,639 131,084
Copper production (Mlbs) 18.2 16.9 32.0 35.4

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