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Oceanagold Announces Filing of Final Prospectus FOR C$150 Million Bought Deal Offering of Common Shares

Financings

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MEDIA RELEASE

14 October 2020

OCEANAGOLD ANNOUNCES FILING OF FINAL PROSPECTUS FOR C$150 MILLION

BOUGHT DEAL OFFERING OF COMMON SHARES

(BRISBANE) OceanaGold Corporation ( TSX: OGC) ( ASX: OGC) (the “Company”) announces that it has

today filed a final short form prospectus in connection with its previously announced bought deal financing .

The Company previously entered into an agreement with a syndicate of underwriters (the “Underwriters”),

led by Scotiabank and BMO Capital Markets, who have agreed to purchase, on a bought deal basis, an

aggregate of 73,000,000 common shares (the "Offered Shares") of the Company at a price of C$2.06 per

Offered Share (the "Offering Price"), for aggregate gross proceeds of C$150 million (the “Offering”).

The Company has also granted the Underwriters the option, exercisable in whole or in part from time to time

until and including 30 days following the Closing Date, to purchase up to an additional 10,950,000 common

shares (representing an additional 15% of the Offered Shares) at the Offering Price and on the same terms

and conditions as the Offered Shares to cover over-allotments, if any, and for market stabilization purposes.

The closing of the Offering is expected to occur on October 19, 2020 (the "Closing Date"), or such other date

as may be agreed by the Underwriters and the Company, acting reasonably.

The Toronto Stock Exchange has conditionally approved the Offering and the listing of the Offered Shares,

subject to its customary conditions.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may

not be offered or sold in the United States absent registration or an applicable exemption from the registration

requirements thereunder. This press release shall not constitute an offer to sell or the solicitation of an offer

to buy nor shall there be any sale of the securities in any j urisdiction in which such offer, solicitation or sale

would be unlawful.

Amended Technical Reports

In addition, a s a result of a review by staff of the Ontario Securities Commission in connection with the

Offering, the Company is also today re-filing the NI 43-101 Technical Report Macraes Gold Mine Otago, New

Zealand originally dated September 25, 2020 and the Waihi District Study Preliminary Economic Assessment

NI 43-101 Technical Report originally dated August 30, 2020 , in order to amend Section 3 of each report

relating to reliance on certain experts. There are no changes to the mineral reserves, mineral resources or

any economic outcomes in either report.

– ENDS –

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Authorised for release to market by Acting Company Secretary, Chris Hansen .

For further information please contact:

Investor Relations Media Relations

Sam Pazuki

Tel: +1 720 602 4880

[email protected]

Melissa Bowerman

Tel: +61 407 783 270

[email protected]

www.oceanagold.com | Twitter: @OceanaGold

About OceanaGold

OceanaGold is a multinational gold producer committed to the highest standards of technical, environmental

and social performance.

For 30 years, we have been contributing to excellence in our industry by delivering sustainable environmental

and social outcomes for our com munities, and strong returns for our shareholders . Our global exploration,

development, and operating experience has created a significant pipeline of organic growth opportunities

and a portfolio of established operating assets including Didipio Mine in the Philippines; Macraes and Waihi

operations in New Zealand; and Haile Gold Mine in the United States of America.

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION

TO US NEWSWIRE SERVICES.