OceanaGold Extends High-Grade Mineralization at Wharekirauponga and Receives Draft Decision and Conditions to Approve the Waihi North Project
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November 25, 2025 News Release
OceanaGold Extends High-Grade Mineralization at Wharekirauponga
and Receives Draft Decision and Conditions to Approve the Waihi
North Project
(VANCOUVER, BC ) OceanaGold Corporation (TSX: OGC ) (OTCQX: OCANF) ("OceanaGold" or the
"Company") announces results from ten drill holes from the ongoing exploration and resource conversion
program at Wharekirauponga, located approximately 10 kilometres (“km”) to the north of the Company’s
Waihi operation in New Zealand.
OceanaGold is also pleased to announce that on November 25, 2025, the Expert Panel appointed by the
New Zealand government to consider permitting of the Waihi North Project (“WNP”) under the Fast-track
Approvals Act has released a draft decision and conditions indicating a provisional intention to approve the
project. The draft decision and conditions remain subject to a further comment period, with a final decision
expected by year-end 2025.
Wharekirauponga Drilling Highlights (estimated true width):
• 13.9 m @ 25.8 g/t Au from 466.8 m, EG vein (WKP137A)
• 7.4 m @ 5.3 g/t Au from 396.0 m, EG HWS vein (WKP137A)
• 1.8 m @ 108.1 g/t Au from 514.7 m, EG vein (WKP124J)
• 2.5 m @ 17.0 g/t Au from 530.3 m, EG FW vein (WKP124J)
• 3.2 m @ 19.7 g/t Au from 532.6 m, EG vein (WKP124K)
• 1.5 m @ 28.8 g/t Au from 474.4 m, EG HW vein (WKP124K)
• 5.6 m @ 6.9 g/t Au from 534.2 m, EG vein (WKP124L)
Gerard Bond, President and CEO of OceanaGold, said “ We are excited about today’s drill results from
Wharekirauponga that extend the high-grade mineralization at the southern boundary of the resource, as
demonstrated by the fantastic high-grade intercepts received by drill hole WKP137A. With more follow-up
drilling planned, I am very pleased with the value and return on investment that we continue to achieve
through exploration, as this deposit continues to grow.
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We are also encouraged by the Expert Panel’s release of a draft decision and conditions indicating the
provisional intention to grant approvals for the Waihi North Project through the Fast -track Approvals Act.
We look forward to continuing our engagement with participants in the approvals process and progressing
through this next stage of the application to move towards the receipt of a final decision by the end of the
year. We intend to safely and responsibly develop the Waihi North Project which extends the mine life of
the Waihi operation well into the future, while generating strong returns for our shareholders and bringing
wider economic benefits for the local communities and for New Zealand.”
Drill results can be viewed in 3D using VRIFY at the following link:
https://vrify.com/meetings/recordings/1ec83dd5-7af1-41de-b60b-4cedf4d94ffc
VRIFY note: Drill results reflect only those set forth in OceanaGold’s press release dated November 25, 2025, and do not include all
historical results except those relevant to the current Wharekirauponga exploration target.
Wharekirauponga Drill Results Overview
East Graben (“EG”) Vein
Since the June 25, 2025 news release, a total of ten drill holes have been completed and results returned
from the EG, hanging wall (“HW”) and footwall (“FW”) veins, collectively referred to as the “EG vein zone”
(Figure 1). Drilling results have further extended the known limits of the mineralized EG vein 135 m to the
south (definition) and improved confidence in the potential for resource (conversion). These results continue
to demonstrate the significant potential to expand the mineral resource associate d with the EG vein zone.
Drilling from drill site 9 included the high -grade EG vein intercept from WKP137A (13.9 m @ 25.8 g/t Au),
extending the high-grade mineralization at the southern end of the resource. This result is supported by
previous intercepts WKP135 (6.3 m @ 8.7 g/t Au , released March 2025), WKP137 (4.0 m @ 43.8 g/t Au ,
released June 2025) and WKP134A (7.7 m @ 11.4 g/t Au, released November 2024) defining a new high-
grade zone on the southern boundary of the existing resource, which remains open to the south with
significant growth potential.
To further test this, step out hole WKP140A at the southern-most trace of drilling returned an intercept of
2.6 m @ 0.6 g/t, confirming the continuation of the EG vein 135 m to the south of previously reported hole
WKP139 (2.9 m @ 0.5 g/t Au , released June 2025). The continuity of veining demonstrated by WKP140A
supports growth of the total known strike length from 1.4 km to 1.5 km and this remains open to the north
and south.
Drill site 1 results include WKP143, completed down dip on the EG vein , returning 2.3 m @ 4.6 g/t Au ,
similar to neighbouring holes, extending mineralization.
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At drill site 8, five new directional holes have been completed from the WKP124 parent hole , which have
infilled and tested the extents of the mineralization on the EG vein structure . Conversion drilling highlights
include the high-grade intersection received in hole WKP124J with 1.8 m @ 108.1 g/t Au (EG vein). Drill
hole intersections across the EG vein in holes WKP124K (3.2 m @ 19.7 g/t Au) and WKP124L (5.6 m @
6.9 g/t Au) met expectations and increased resource confidence. Drill holes WKP124H (NSR) and WKP124I
(NSR) defined the upper limit of the EG vein at this location (Figure 2).
Hanging Wall and Footwall Veins
Notably, the HW and FW vein structures that lie immediately to the east and west respectively of the EG
vein zone also yielded strong results . Drill hole WKP137A returned an intercept of 7.4 m @ 5.3 g/t Au on
the EG hanging wall splay (“HWS”), which extends the known mineralization on this structure, parallel to
extensions on the EG vein, with other previously reported surrounding intercepts including WKP135 (1.7 m
@ 24.6 g/t Au, released March 2025), WKP134A (2.3 m @ 16.0 g/t Au, released March 2025) and WKP137
(5.9 m @ 14.7 g/t Au, released June 2025) (Figure 3).
High-grade Au was intersected across several other EG HW and FW structures including 2.5 m @ 17.0 g/t
Au and 2.4 m @ 10.4 g/t Au from separate FW veins in drill hole WKP124J and 1.5 m @ 28.8 g/t Au from
a HW vein in WKP124 K, continuing to demonstrate the potential for additional resource growth at
Wharekirauponga outside of the main EG vein structure.
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Figure 1: Wharekirauponga plan view of geology and drill traces highlighting the EG vein zone, T-Stream vein, and
Western veins, and drill platform locations
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Figure 2: Long section of the EG vein with geology and drill intercepts (blue font = new holes)
Figure 3: Long section of the EG HWS vein with geology and drill intercepts (blue font = new holes)
Wharekirauponga Exploration Program
Exploration for the remainder of the 2025 program will continue to target resource growth on the EG vein
zone from drill sites 8 and 9. In October, the Company received permi ts for two additional exploration drill
sites. The Fast -track application includes a further increase in the number of exploration drill sites,
expanding the program by 8 new sites (inclusive of two new sites added in October) , as well as doubling
the drilling effort, with up to 6 rigs operating at any one time, from the currently permitted 3 rigs. The doubling
of the exploration drill sites and drill rigs will further accelerate both definition and conversion drilling at
Wharekirauponga in 2026 and beyond.
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Table 1: Wharekirauponga drill intersections subsequent to the June 25, 2025, results update
Drill Hole
ID
From
(m)
To
(m)
True
width
(m)
Au
(g/t)
Ag
(g/t) Vein Activity
WKP124H 520.5 521.0 0.4 NSR EG Vein Definition
WKP124I 520.2 520.5 0.2 NSR EG Vein Conversion
WKP124J 514.7 516.9 1.8 108.1 71.9 EG Vein Conversion
WKP124J 530.3 533.7 2.5 17.0 16.1 EG FW Vein Conversion
WKP124J 577.1 580.2 2.4 10.4 18.4 EG FW Vein Conversion
WKP124K 474.4 476.4 1.5 28.8 30.7 EG HW Vein Conversion
WKP124K 532.6 537.1 3.2 19.7 11.8 EG Vein Conversion
WKP124K 585.4 586.5 0.8 16.3 9.3 EG FW Vein Conversion
WKP124L 534.2 542.9 5.6 6.9 5.3 EG Vein Conversion
WKP124L 626.5 628.9 1.4 8.3 12.1 EG FW Vein Conversion
WKP137A 396.0 404.2 7.4 5.3 5.7 EG HWS Vein Definition
WKP137A 417.6 420.7 2.8 7.0 6.1 EG HW Vein Definition
WKP137A 427.9 433.3 4.7 2.3 1.9 EG HW Vein Definition
WKP137A 439.3 440.1 0.6 33.4 20.8 EG HW Vein Definition
WKP137A 466.8 481.2 13.9 25.8 18.9 EG Vein Definition
WKP140 Hole abandoned prior to reaching EG vein target
WKP140A 543.8 547.0 2.6 0.6 3.3 EG Vein Growth
WKP141 220.5 222.4 1.5 10.2 35.3 EG HW Vein Definition
WKP141 248.5 248.9 0.3 48.9 31.5 EG HW Vein Definition
WKP141 376.3 378.0 1.6 1.7 14.9 EG Vein Definition
WKP141 472.0 476.8 4.2 4.4 24.4 EG FW Vein Definition
WKP142 398.3 401.0 2.4 1.5 14.2 EG Vein Definition
WKP143 467.8 470.5 2.3 4.6 11.5 EG Vein Definition
Notes:
“Growth” intercepts are associated with early-stage exploration drilling, “Definition” drilling intercepts are intercepts outside
the current resource model shell directed at defining mineralization to an Inferred Resource category and “Conversion”
drilling are intercepts converting Inferred Resources to Indicated Resources category. NSR = No Significant Result.
Waihi North Project Fast-track Approval and Early Works Activities Update
OceanaGold is encouraged by the Expert Panel’s release of a draft decision and conditions indicating a
provisional intention to grant approvals for the WNP through the Fast-track Approvals Act. It is important to
note that at this stage, a final decision has not yet been reached.
The Expert Panel will now invite comment on the proposed conditions of consent from relevant parties. The
Company will then have a chance to review and respond to these comments .
The Expert Panel’s final decision on the application is expected in mid-December 2025.
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The Company also continues to advance early works, design and project activities at WNP, including
construction of the services trench and expansion of the water treatment plant, and expects to spend $45
million in capital in 2025 on these activities . The construction o f the 5 km services tren ch that will convey
power, water and communications from the existing Waihi operations to the Willows surface facilities area
commenced in the third quarter of 2025. Civil works and fabrication have also commenced at the expanded
water treatment plant site and are progressing well , with both deliverables planned for completion by the
second quarter of 2026.
Figures 4-5: Services trench construction – October 2025
Figure 6: Water treatment plant expansion – October 2025
For further information relating to drill hole data please refer to the Company’s website at
https://investors.oceanagold.com/additional-drillhole-data.
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About OceanaGold
OceanaGold is a growing intermediate gold and copper producer committed to safely and responsibly
maximizing the generation of Free Cash Flow from our operations and delivering strong returns for our
shareholders. We have a portfolio of four operating mines: the wholly-owned Haile Gold Mine in the United
States of America; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned
Didipio Mine in the Philippines.
For further information please contact:
Investor Relations:
Haley Mayers, VP, Investor Relations
Tel: +1 604-678-4097
Valerie Burns, Manager, Investor Relations
Tel: +1 604-235-0742
Media Relations:
Louise Burgess, VP, Communications
Tel: +1 604-403-2019
Qualified Person Statement
The scientific and technical information relating to Waihi exploration results in this press release has been
reviewed and approved by Mr. Leroy Crawford-Flett, a Chartered Professional Member of the Australasian
Institute of Mining and Metallurgy, a quali fied person under National Instrument 43 -101 – Standards of
Disclosure for Mineral Projects of the Canadian Securities Administrators (“NI 43-101”). Mr. Crawford-Flett
is the Exploration & Geology Manager of Waihi Operation.
Quality Assurance and Quality Control (“QA/QC”)
All exploration samples are assayed for gold by 30g fire assay with AAS finish. Since mid -2022, drill core
sample intervals where visible electrum is logged are followed up by a subsequent screen fire assay after
the routine 30g fire assay. Core samples were prepared and analyzed at SGS Waihi NZ Ltd (Au by 30g fire
assay and Ag by aqua regia digest and 0.3gm AAS finish . Samples post April 2024 with Ag, As, Sb. Hg
and S by ICP-MS after DIG12R Digest). Selected pulps are periodically sent to ALS in Brisbane for a 4 -
acid digestion and 42 or 48 element ICP geochemical analysis.
Quality of exploration assay results has been monitored in the following areas:
• Sample preparation at the SGS Waihi and Westport labs through sieving of jaw crush and pulp
products;