OGC.TO · 2017-03-30 12:00:00

Oceanagold Provides Exploration and Annual Resource and Reserve Statement Updates

Resource Estimates

MEDIA RELEASE

30 March 2017

OCEANAGOLD PROVIDES EXPLORATION AND ANNUAL RESOURCE AND

RESERVE STATEMENT UPDATES

(All financial figures in US Dollars unless otherwise stated)

(MELBOURNE) OceanaGold Corporation (TSX/ASX: OGC) (the “Company”) is pleased to provide an update

on its global exploration program following strong drill results at each operation and its updated annual

Resource and Reserve (“R&R”) statement for the year ended December 31, 2016. Note the Haile reserves

remain unchanged pending the completion of the optimisation study expected in the middle of 2017. Further,

the year-on-year comparison commentary included in this release excludes the El Dorado resources and

Reefton reserves.

Key Highlights

 Total Measured and Indicated Resources of 9.93 Moz of gold, 5.6 Moz of silver and 0.21 Mt of copper

and Inferred Resources of 3.1 Moz of gold, 0.8 Moz of silver and 0.03 Mt of copper.

 Total Proven and Probable Reserves of 5.04 Moz of gold, 5.0 Moz silver and 0.18 Mt copper.

 Completed 12,466 metres of drilling at the Palomino target at Haile with s ignificant intercepts that

include: 66.3m @ 3.0 g/t Au, 33.5m @ 4.6 g/t Au, 4.2m @ 14.2 g/t Au, and 9.1m @ 11.7 g/t Au.

 Defined a maiden underground resource of 20 koz Indicated Resource and 137 koz Inferred

Resource on veins associated with the Martha Project at Waihi which contributed to a 22% increase

year-on-year in total resources at Waihi to 527 koz (371 koz Measured and Indicated and 156 koz

Inferred) after mine depletion.

 Continued exploration success at Waihi from underground and surface drilling yielding significant

intercepts that include:

o Edward: 12.6m @ 16.5 g/t Au and 120.5 g/t Ag and 6.4m @ 7.0 g/t Au and 23.8 g/t Ag,

o Daybreak: 6.7m @ 7.8 g/t Au and 10.2 g/t Ag

o Gladstone: 90.0m @ 1.1 g/t Au and 4.9 g/t Ag, 43.6m @ 2.2 g/t Au and 8.7 g/t Ag, 7.9m @

5.0 g/t Au and 25.9 g/t Ag and 5m @ 8.4 g/t Au and 19.0 g/t Ag

o Favona: 1.6m @ 426 g/t Au and 856 g/t Ag , 17.6m @ 2.4 g/t Au and 7.9 g/t Ag and 20.1m

@ 3.0 g/t Au and 4.8 g/t Ag

o Rex: 2.4m @ 32.4 g/t Au and 1.6m @ 11.0 g/t Au.

 Continued exploration success at Macraes including 14.0m @ 3.7 g/t Au, 12.0m @ 2.3 g/t Au, 4.0m

@ 7.8 g/t Au, 9.0m @ 2.7 g/t Au and 4.0m @ 5.5 g/t Au from Golden Point.

 Significant drill intercepts from the Didipio deposit that incl ude 131.0m @ 2.5 g/t Au and 0.4% Cu

and 115.0m @ 2.4 g/t Au and 0.5% Cu from infill drilling and 44.0m @ 1.2 g/t Au and 0.6% Cu and

10.0m @ 1.5 g/t Au and 0.4% Cu from deeper extensional drilling.

Mick Wilkes, President and CEO said, “ OceanaGold has a port folio of high quality assets which includes a

significant mineral endowment across our operational footprint. Last year, we initiated the most extensive

exploration program in our Company’s history, which produced significant results across our business.”

“In New Zealand, where we are the country’s largest gold miner, we remain committed to expanding our

exploration efforts to increase resources and achieve mine life extensions at both Waihi and Macraes.

Furthermore, the exploration success we achieved in 2016 at the Horseshoe deposit, when combined with

the Haile optimisation study offers significant upside in the near -term to further increase our reserves,” he

added.

“In 2017, one of our primary areas of focus is to leverage the many opportunities for org anic growth of the

business that we believe will create significant value.”

On a consolidated basis, the Company’s total Proven and Probable (“ P&P”) Reserves stand at 5.04 Moz of

gold, 5.0 Moz of silver and 0.18 Mt of copper, reflecting slight decreases in gold and copper from the previous

year due to mine depletion but partly offset by reserve replacement in New Zealand. Silver reserves

increased by 12% due to revised estimates of the silver content in the ore stockpiles .

Table 1 – Updated Reserve Table (as at 31 December 2016)

PROJECT PROVEN PROBABLE PROVEN & PROBABALE

AREA Cut-off Mt Au

g/t

g/t Mt Au

g/t

% Mt Au

g/t

g/t Cu % Au

Moz

MACRAES Open Pit 0.4g/t Au 12.2 1.08 - 18.1 1.12 - - 30.3 1.10 - - 1.07 - -

MACRAES Underground 2.1g/t Au 0.54 2.70 - 1.31 2.30 - - 1.85 2.42 - - 0.14 - -

WAIHI Open Pit 0.5g/t Au 0.16 3.05 30.5 0.66 2.91 29.1 - 0.81 2.94 29.4 - 0.08 0.77 -

WAIHI Underground 3.5g/t Au 0.37 9.14 18.1 0.76 6.56 13.1 - 1.13 7.40 14.7 - 0.27 0.54 -

NEW ZEALAND - 13.2 1.39 - 20.8 1.45 - - 34.1 1.43 - - 1.56 1.30 -

DIDIPIO Open Pit 0.52g/t AuEq 28.6 0.47 2.5 2.4 0.94 2.3 0.45 31.1 0.51 2.5 0.35 0.51 2.46 0.11

DIDIPIO Underground 1.3g/t AuEq 2.3 2.48 2.6 13.7 1.76 2.5 0.43 15.9 1.86 2.5 0.44 0.95 1.27 0.07

PHILIPPINES - 30.9 0.62 - 16.1 1.64 - - 47.0 0.97 - - 1.46 3.73 0.18

HAILE Open Pit 0.48g/t Au 19.6 2.19 - 10.9 1.82 - - 30.5 2.06 - - 2.02 - -

USA - 19.6 2.19 - 10.9 1.82 - - 30.5 2.06 - - 2.02 - -

TOTAL - 63.7 1.26 - 47.8 1.60 - - 112 1.41 - - 5.04 5.0 0.18

Notes:

1. Reserves are reported within current mine designs using economic assumptions unless otherwise noted: US$1,300/oz gold, US$3.00/lb copper and US$19/oz silver.

2. Didipio reserves based on US$1,250/oz gold and US$3.20/lb copper.

3. Haile reserves based on US$950/oz gold price.

4. Estimates of contained metal do not make allowances for processing losses.

Consolidated Measured and Indicated (“M&I”) Resources (inclusive of reserves ) total 9.93 Moz of gold, 5.6

Moz of silver and 0.2 1 Mt of copper at the end of 2016, a decrease from the previous year due to mine

depletion and removal of the El Dorado resource , but partly offset by additional resources defined through

the Company’s extensive 2016 exploration program s. Total consolidated Inferred Resources stand at 3.1

Moz of gold, 0.8 Moz of silver and 0.03 Mt of copper.

Table 2 – Updated Resource Statement (as at 31 December 2016)

PROJECT MEASURED INDICATED MEASURED & INDICATED

AREA Cut-Off Mt Au

g/t

% Mt Au

g/t

% Mt Au

g/t

Moz

MACRAES Open Pit 0.4g/t Au 17.5 1.11 - - 65.1 0.95 - - 82.5 0.99 - - 2.62 - -

MACRAES Underground - 3.88 3.11 - - 7.34 2.06 - - 11.2 2.42 - - 0.87 - -

REEFTON 0.5g/t Au 1.26 1.83 - - 6.55 1.49 - - 7.8 1.54 - - 0.39 - -

BLACKWATER - - - - - - - - - - - - - - - -

WAIHI Open Pit 0.5g/t Au 0.16 3.05 30.5 - 0.66 2.91 29.1 - 0.8 2.94 29.37 - 0.08 0.77 -

WAIHI Underground 3.5g/t Au 0.37 9.13 15.5 - 0.88 6.57 11.5 - 1.2 7.33 12.67 - 0.29 0.51 -

NEW ZEALAND - 23.1 1.62 - - 80.5 1.18 - - 103.6 1.28 - - 4.25 1.27 -

DIDIPIO Open Pit 0.5g/t AuEq 28.9 0.48 2.48 0.34 7.10 0.65 2.15 0.30 36.0 0.51 2.41 0.33 0.59 2.79 0.12

DIDIPIO Underground 1.12g/t AuEq 2.57 2.50 2.58 0.48 17.2 1.74 2.38 0.46 19.8 1.84 2.41 0.46 1.17 1.53 0.09

PHILIPPINES - 31.4 0.64 - - 24.3 1.42 - - 55.8 0.98 - - 1.76 4.32 0.21

HAILE Open Pit 0.41g/t Au 36.8 1.78 - - 33.6 1.68 - - 70.3 1.73 - - 3.92 - -

USA - 36.8 1.78 - - 33.6 1.68 - - 70.3 1.73 - - 3.92 - -

TOTAL - 91.3 1.35 - - 138 1.34 - - 229.7 1.34 - - 9.93 5.6 0.21

PROJECT INFERRED RESOURCE

AREA Cut-Off Mt Au g/t Ag g/t Cu % Au Moz Ag Moz Cu Mt

MACRAES Open Pit 0.4g/t Au 39 0.9 - - 1.1 - -

MACRAES Underground - 3.5 1.4 - - 0.2 - -

REEFTON 0.5g/t Au 1.4 1.1 - - 0.0 - -

BLACKWATER - 0.9 23 - - 0.7 - -

WAIHI Open Pit 0.5g/t Au - - - - - - -

WAIHI Underground 3.5g/t Au 0.7 6.9 13.5 - 0.2 0.3 -

NEW ZEALAND - 46 1.9 - - 2.7 0.3 -

DIDIPIO Open Pit 0.5g/t AuEq 2.4 0.5 2.0 0.2 0.0 0.2 0.01

DIDIPIO Underground 1.12g/t AuEq 6.5 1.3 1.6 0.4 0.3 0.3 0.02

PHILIPPINES - 9 1.1 - - 0.3 0.5 0.03

HAILE Open Pit 0.41g/t Au 19 1.1 - - 0.7 - -

USA 19 1.1 - - 0.7 0.0 -

TOTAL 73 1.3 - - 3.1 0.8 0.03

Notes:

1. Mineral Resources include Mineral Reserves.

2. Macraes and Reefton open pit resources constrained by a NZ$2,200/oz gold price pit shell. Macraes underground resources are geologically constrained.

3. The commencement of Reefton closure and rehabilitation was announced on 19 December 2016.

4. The Waihi open pit resources are reported to a 0.5 g/t Au cut-off within a pit design to the 890mRL. The underground resources are based on a NZ$1,857/oz gold price.

5. For Didipio, open pit resources are reported above the 2,460mRL and underground resources between the 2,460mRL and 2,070mRL.

- Open pit resources use AuEq cut-off based on US$1,300/oz gold and US$3.00/lb copper. Underground resources use AuEq cut-off based on US$1,450/oz gold and

US$3.80/lb copper

6. Haile open pit resources are reported to a 0.41 g/t Au cut-off within a US$1,200/oz gold price pit shell

Table 3 – Updated Resource Statement for Minority Interest in Assets (as at December 31, 2016)

ASSET MEASURED INDICATED INFERRED

Mt Au g/t Au Moz Mt Au g/t Au Moz Mt Au g/t Au Moz

SAMS CREEK - - - 2.0 1.77 0.11 2.0 1.3 0.1

TOTAL - - - 2.0 1.77 0.11 2.0 1.3 0.1

Notes:

1. OceanaGold has a 20% interest in the Sams Creek Project. The tabulated resource is factored by the percentage ownership.

United States

At Haile, open pit reserves and resources remain unchanged from 31 December 2015. Upon completion of

the Haile optimisation study in mid -2017, the Company will provide an update to the Haile open pit and

underground resources and reserves . Results from the 2016 exploration campaign at Haile will be

incorporated into the optimisation study , including more than 35,000 metres of d rilling from 66-holes at the

Horseshoe underground deposit.

Between September 2016 and March 2017, the Company drilled 23 diamond holes for 12,466 metres at the

Palomino target (Figure 1). Assay s for the first 15 holes (Table 4) demonstrate extensions to the

mineralisation along strike from this underground target which is 300 metres below surface and approximately

300 metres long (Figure 2).

At the adjacent Snake target , below the Snake pit and between the Horseshoe and Palomino underground

deposits (Figure 2), the Company tested extensions to known mineralisation with seven diamond holes for

4,355 metres. Assays for these drill holes are pending.

To further support the optimisation study, the Company will drill prospective deeper mineralisation at Snake,

Mustang and Mill Zone Deeps targets in the first half of 2017. At the Mustang target, a 44-hole, 16,000 metre

resource delineation diamond drill program commenced in the first quarter to test extensions to mineralisation

north of the Chase Hill and Ledbetter resources. At Mill Zone Deeps, the plan is to drill four infill holes for

1,500 metres in the second quarter.

Geophysical data processing and evaluation were completed for the Haile region in late December 2016

including magnetic, EM, gravity and IP data and are being integrated with geology and drilling to identify

further near mine exploration targets.

Figure 1 – Plan view of Palomino and Snake drilling, Haile Gold Mine

Figure 2 – Haile Gold Mine Long Section – Looking Northwest

Table 4 – Significant Drill Intersections from Palomino Drilling, Nov 2016 – March 2017

Drill Hole ID Project

East

NAD83 Z17

(m)

North

NAD83 Z18

(m)

Collar RL Az Dip From

(m)

Length

(m)

True

width^

(m)

Gold

Grade

(g/t) (m)

DDH0577 Palomino 542693 3826518 138.0 148.0 -50.0 422.0 434.8 12.8 9.6 6.70

DDH0580 Palomino 542693 3826439 138.0 148.0 -50.0 377.6 383.2 5.6 4.2 14.20

DDH0583 Palomino 542627 3826444 138.0 148.0 -50.0 399.6 466.7 67.1 50.3 2.40

DDH0584 Palomino 542592 3826452 137.0 148.0 -50.0 393.3 481.7 88.4 66.3 3.00

DDH0590 Palomino 542893 3826045 155.0 328.0 -50.0 479.1 491.2 12.1 9.1 11.70

DDH0593 Palomino 542693 3826439 138.0 152.0 -56.0 370.6 392.7 22.2 16.6 2.60

DDH0593 Palomino 542693 3826439 138.0 152.0 -56.0 422.5 441.7 19.2 14.4 3.70

Including 436.5 441.7 5.1 3.8 10.20

DDH0595 Palomino 542596 3826455 137.0 148.0 -46.0 393.6 438.3 44.7 33.5 4.60

Including 431.3 434.4 3.1 2.3 11.30

^ true thicknesses average 75% of reported interval length based on core intersection angles.

New Zealand

Waihi

At Waihi, P&P Reserves at the end of 2016 stood at 0.27 Moz of gold and 0.54 Moz of silver in the underground

and 0.08 Moz of gold and 0.77 Moz of silver in the open pit. There was no year-on-year change to the open pit

reserves and a 12% decrease in underground reserves due to mine depletion.

The Company is pleased to announce a maiden underground resource of 20 koz Indicated Resource and 137

koz Inferred Resource on veins associated with the Martha Project which contributed to a 22% increase year-on-

year in total resources of 527 koz (371 koz Measured and Indicated and 156 koz Inferred) after mine depletion.

In 2016, the Company drilled over 35,000 metres at Waihi with surface and underground exploration drilling and

defined a significant exploration target beneath the current open pit at Martha. The Martha project is a significant,

medium term exploration target generated through preliminary modeling based on limited drilling and

historical crosscut data beneath Martha. The Martha project will be a key focus for the exploration team in

2017 and 2018 to increase and upgrade the resource base.

In the first two months of 2017, the Company drilled 6,622 metres, utilising three underground and up to five

surface drill rigs. Drilling continues to return good widths and grades across multiple targets, adding incremental

ounces on vein extensions to those currently being mined at Correnso, Empire, Christina and Daybreak. To

complement the surface drilling around the perimeter of the open pit in 2016, the Company commenced two

underground exploration drives in 2017 from which drilling will test the deeper extensions of known veins.

This year, the Company also commenced drilling in the Favona and Gladstone areas. Early results have

been encouraging with good widt hs and grade that have the potential to extend the life of the operation.

Additionally, the Company commenced drilling on the Rex vein, a splay off the Royal vein, which has returned

significant intercepts that are currently being followed up with further drilling (Table 6).

Table 5 presents significant results to hand since the 12 December 2016 exploration update.

Figure 3 – Oblique view to SW across Waihi Mines and Targets

Table 5 – Significant Intersections from Waihi Resource Drilling

Drill Hole ID Vein East#

(m)

North#

(m)

Collar RL

(m) Az# Dip From

(m)

True

width

(m)

Gold

Grade

(g/t)

Silver

Grade

(g/t)

830ER0998 Christina 396342.3 643167.0 833.4 291.7 -9.2 150.3 154.1 3.7 8.33 9.4

830ER0998 Christina 396342.3 643167.0 833.4 291.7 -9.2 163.2 166.8 3.4 7.39 5.5

860ER1030 Christina 396347.2 643155.0 865.6 337.3 7.3 120.1 121.4 1.1 11.57 10.9

800ER1007 Daybreak 396255.2 643139.1 807.1 302.1 23.8 7.9 12.0 2.9 5.46 6.1

844SP2DR1008 Daybreak 396423.4 643035.2 829.8 327.7 24.9 131.5 137.3 2.1 14.07 17.6

844SP0DN1020 Daybreak 396360.4 642970.6 834.9 304.6 25.9 181.8 188.1 5.9 5.36 141.0

844SP0DN1020 Daybreak 396360.4 642970.6 834.9 304.6 25.9 200.8 203.1 1.8 8.31 33.1

844SP0DG1029 Daybreak 396362.5 642971.7 834.6 355.3 25 161.5 169.1 6.7 7.81 10.2

UW493 Edward HW 395380.9 642696.5 1130.2 328.8 -31.5 120.8 136.0 6.4 6.99 23.8

UW493 Edward HW 395380.9 642696.5 1130.2 328.8 -31.5 182.6 197.8 12.6 16.50 120.5

UW493 Edward HW 395380.9 642696.5 1130.2 328.8 -31.5 267.0 274.9 2.7 21.24 29.3

UW493 Welcome 395380.9 642696.5 1130.2 328.8 -31.5 322.9 328.2 4.3 5.12 19.7

846EN1018 Empire 396367.2 643525.5 842.8 283.3 0.9 31.7 37.2 3.5 4.02 37.1

846EN1018 Martha FW 396367.2 643525.5 842.8 283.3 0.9 199.9 206.7 4.1 6.21 8.6

UW495 Edward HW 395276.5 642734.9 1128.2 19.2 -52.3 94.0 107.0 4.5 4.33 7.2

UW495 Edward 395276.5 642734.9 1128.2 19.2 -52.3 251.8 267.5 9.2 10.04 88.6

UW497 Edward HW 395380.2 642697.1 1129.8 317.6 -37.2 168.8 180.6 6.1 5.04 7.7

UW497 Edward HW 395380.2 642697.1 1129.8 317.6 -37.2 230.6 239.8 4.6 4.27 27.6

UW499 Gladstone 396991.5 642331.0 1138.2 322.2 -44.5 59.7 63.5 3.8* 3.10 5.8

UW499 Gladstone 396991.5 642331.0 1138.2 322.2 -44.5 87.4 91.1 3.7* 4.27 2.7

UW499 Gladstone 396991.5 642331.0 1138.2 322.2 -44.5 116.5 119.6 2.3 3.93 3.1

UW501 Gladstone 397127.1 642327.2 1127.1 334.8 -44.9 109.8 125.8 6.3 3.19 14.4

UW502 Gladstone 396945.1 642363.8 1142.6 18.0 -45.2 11.7 17.7 4.6 2.26 2.4

UW504 Gladstone 396922.5 642283.2 1134.2 322.9 -44.7 78.0 90.1 12.1 1.27 2.6

UW505 Gladstone 396938.8 642386.2 1147.5 117.0 -53.7 44.5 56.3 11.8* 3.51 3.9

UW505 Gladstone 396938.8 642386.2 1147.5 117.0 -53.7 102.3 120.7 18.4* 1.62 10.2

UW506 Gladstone 396941.2 642288.9 1134.8 328.5 -44.9 85.0 103.0 18.0* 1.23 3.1

UW506 Gladstone 396941.2 642288.9 1134.8 328.5 -44.9 116.0 119.8 2.7 4.53 10.1

UW507 Gladstone 397151.8 642458.4 1137.0 169.3 -47.8 22.4 66.0 43.7* 2.16 8.7

Including 55.1 63.0 7.9* 5.02 25.9

UW509 Gladstone 397201.9 642426.8 1128 293.7 -44.1 149.5 161.9 6.2 2.01 6.8

UW509 Gladstone 397201.9 642426.8 1128 293.7 -44.1 166.0 177.7 9.8 1.60 8.5

UW510 Gladstone 397192.7 642477.5 1129.5 143 -52.7 55.7 83.2 27.5* 2.00 4.2

Including 61.9 64.7 2.0 6.93 4.6

UW510 Gladstone 397192.7 642477.5 1129.5 143 -52.7 124.4 128.8 4.4* 3.22 17.3

UW510 Gladstone 397192.7 642477.5 1129.5 143 -52.7 134.3 148.0 13.7* 2.34 9.8

1120SP2GR1010 Gladstone 397045.2 642528.4 1079.9 159.7 1.0 0.0 38.2 38.2* 0.97 9.9

1120SP2GR1010 Gladstone 397045.2 642528.4 1079.9 159.7 1.0 69.0 145.3 76.3* 1.45 4.4

Including 97.1 103.0 5.0 8.36 19.0

1120SP2GR1009 Gladstone 397045.1 642528.4 1080.1 158.1 7.2 95.2 110.3 9.3 2.09 5.8

1120SP2GR1009 Gladstone 397045.1 642528.4 1080.1 158.1 7.2 119.9 134.4 10.3 2.26 4.2

1120SP2GR1012 Gladstone 397045.9 642528.6 1079.8 133.5 -2.4 115.1 156.7 41.6* 1.79 2.9

Including 135.8 139.8 4.0* 4.70 11.8

1120SP2GR1017 Gladstone 397046.4 642528.8 1079.7 121.6 -4.3 106.6 163.5 56.9* 2.24 4.9

Including 137.0 145.2 6.7 5.95 12.4

And 155.4 157.1 1.4 19.63 30.0

1120SP2GR1019 Gladstone 397044.9 642528.4 1079.5 169.3 -12.7 7.6 21.0 13.4* 2.37 50.1

1120SP2GR1019 Gladstone 397044.9 642528.4 1079.5 169.3 -12.7 99.0 216.5 90.0 1.13 4.9

GT1034 Favona 397382.6 642914.5 1117.1 106.2 -69.0 85.0 93.5 8.5* 1.83 4.9

GT1035 Favona 397379.2 642936.2 1118.5 89.2 -66.0 44.8 95.8 51.0* 0.84 1.9

GT1035 Favona 397379.2 642936.2 1118.5 89.2 -66.0 95.8 97.3 1.6* 426.00 856.0

GT1035A Favona 397379.2 642936.2 1118.5 89.2 -66.0 43.2 96.7 53.5* 1.31 3.6

UW511A Favona 397400.6 642934.0 1115.5 276.5 -48.9 110.6 118.0 5.5 3.39 25.0

UW512 Favona 397404.1 643044.0 1115.9 291.7 -44.5 84.0 93.0 9.0* 1.01 1.3

UW512 Favona 397404.1 643044.0 1115.9 291.7 -44.5 110.0 114.2 3.4 2.11 1.6

UW514 Favona 397445.6 642841.7 1105.6 286.5 -45.6 72.0 93.5 21.5* 0.87 1.2

UW514 Favona 397445.6 642841.7 1105.6 286.5 -45.6 97.7 106.6 8.9* 0.84 1.8

UW516 Favona 397389.9 642999.3 1115.2 267.7 -48.4 123.9 126.3 2.1 8.93 54.6

UW521 Favona 397572.4 643007.5 1097.9 271.9 -45.5 78.9 87.7 8.8 2.28 2.9

UW521 Favona 397572.4 643007.5 1097.9 271.9 -45.5 106.6 108.7 2.1 3.18 6.8

UW521 Favona 397572.4 643007.5 1097.9 271.9 -45.5 158.8 167.3 8.5 1.74 6.0

UW521 Favona 397572.4 643007.5 1097.9 271.9 -45.5 172.1 178.2 6.1* 1.76 5.4

UW524 Favona 397454.6 642976.7 1098.0 285.0 -45.0 28.0 34.0 6.0* 1.37 2.1

Drill Hole ID Vein East#

(m)

North#

(m)

Collar RL

(m) Az# Dip From

(m)

True

width

(m)

Gold

Grade

(g/t)

Silver

Grade

(g/t)

UW524 Favona 397454.6 642976.7 1098.0 285.0 -45.0 47.0 64.6 17.6* 2.39 7.9

UW524 Favona 397454.6 642976.7 1098.0 285.0 -45.0 69.0 79.0 5.3 1.03 5.0

UW525 Favona 397535.3 643058.0 1097.2 261.7 -51.0 41.8 50.7 8.9* 1.08 0.8

UW525 Favona 397535.3 643058.0 1097.2 261.7 -51.0 53.7 73.8 20.1* 3.02 4.8

UW525 Favona 397535.3 643058.0 1097.2 261.7 -51.0 133.0 134.6 1.6* 2.58 17.6

UW526 Favona 397463.0 643050.6 1100.0 287.1 -45.0 106.7 145.0 24.1 1.11 4.1

UW530 Favona 397459.7 643123.4 1114.3 286.2 -45.0 19.6 67.3 33.1 0.78 2.2

# old Mt Eden Coordinate system

* downhole length as not possible to determine true width

Table 6 – Significant Intersections from Waihi Exploration Drilling

Drill Hole ID Vein East#

(m)

North#

(m)

Collar RL

(m) Az# Dip From

(m)

True

width

(m)

Gold

Grade

(g/t)

Silver

Grade

(g/t)

UW498A Rex 395710.8 642820.4 1117.9 182.8 -47.9 256.1 257.8 1.65* 10.99 34.8

UW520 Royal 395711.5 642819.6 1118.0 173.2 -32.8 52.9 54.7 1.80* 5.22 288.0

UW520 Rex HW 395711.5 642819.6 1118.0 173.2 -32.8 112.8 113.8 1.00* 2.06 20.9

UW520 Rex 395711.5 642819.6 1118 173.2 -32.8 218.1 221.0 2.40 32.35 81.8

UW522 Unnamed 395382.0 642689.1 1129.8 124.6 -43.0 48.5 49.7 1.15* 6.80 133.0

UW522 Unnamed 395382.0 642689.1 1129.8 124.6 -43.0 101.5 105.9 4.45* 10.49 85.2

# old Mt Eden Coordinate system

* downhole length as not possible to determine true width

Macraes

At Macraes, P&P Reserves at the end of 2016 stood at 1.22 Moz of gold including 0.14 Moz of gold at the

Frasers Underground as drill programs at Coronation and Coronation North successfully offset mine

depletion. Macraes has a total M&I Resource of 3.49 Moz of gold and an Inferred Resource of 1.3 Moz gold.

In December 2016 , OceanaGold announced the closure of the Reefton Mine and as su ch removed the

Reefton reserves from its mineral inventory. The resources however, have been retained in the Company’s

inventory.

Over 31,000 metres of diamond and reverse circulation drilling was completed in 2016. In the first two months

of 2017, the Com pany drilled 4,080 metres utilising one underground diamond and up to three surface

diamond / reverse circulation drills rigs. Since the last exploration update in December 2016, the Company

has drilled several targets along the 35 -kilometre Hyde -Macraes Shear Zone including Coronation North,

Trimbells, Golden Point and Frasers Underground (Figure 4). Drilling is currently targeting extensions to

known mineralisation at Coronation North, Coronation and Golden Point.

Following the revision of an updated Coronation North resource model in December 2016, approximately 34

koz were added to its resource before the end of the year with mineralisation remaining open to the southeast

and current drilling focused on testing this extension. The Company is also drill testing for extensions to the

east of the historic Golden Point deposit with encouraging results received to-date (Figure 5 and Table 7).

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