/NOT FOR PUBLICATION OR DISTRIBUTION IN
THE UNITED STATES, JAPAN OR AUSTRALIA/
VANCOUVER, BC, Feb. 2, 2024
/CNW/ - OceanaGold Corporation (TSX: OGC) (OTCQX:
OCANF) ("OceanaGold" or the "Company") is pleased to announce
that its wholly owned subsidiary, OceanaGold Philippines, Inc.
("OGPI"), has filed a registration statement and
draft preliminary prospectus with the Philippine Securities
and Exchange Commission ("SEC") and a listing application with The
Philippine Stock Exchange, Inc. ("PSE") in relation to the
proposed initial public offering (the "Offering") of 20% of the
outstanding common shares of OGPI. OGPI holds the Company's
interest in the Didipio Mine and, pursuant to the terms of the
renewed Financial or Technical Assistance Agreement ("FTAA"), is
required to list its common shares on the PSE. The Offering is a
secondary offering of common shares, with the proceeds to be
received by a wholly owned subsidiary of OceanaGold.
OceanaGold is also providing an update on the recently completed
Didipio underground optimization work (the "Underground
Optimization"), the year-end 2023 Mineral Reserves and Mineral
Resources estimate for Didipio, and recent exploration and resource
conversion results at Didipio.
Gerard Bond, President and CEO of
OceanaGold, said, "We are proud of Didipio's track record as a
proven high-quality, long-life, low-cost gold-copper mine and look
forward to welcoming new Filipino and international shareholders to
participate in the expected robust free cash flow generation,
consistent dividend payments, and future potential at Didipio.
Today's release highlights the upside potential we see at
Didipio, including findings from the Underground Optimization work
and further exploration and resource conversion success as we look
to replace and add additional reserves and resources. We believe
that the future at Didipio is bright and look forward to it
continuing to create value for both OceanaGold and our new OGPI
shareholders."
OGPI Initial Public
Offering
OGPI has filed a registration statement and
draft preliminary prospectus with the SEC for the Offering of
20% of OGPI's common shares, with the Offering expected to be
completed prior to July 2024. OGPI
holds the Company's interest in the Didipio Mine and, pursuant to
the terms of the renewed FTAA, is required to list at least 10% of
its common shares on the PSE. Due to the PSE's minimum public float
requirement of 20%, OGPI intends to list all of its issued and
outstanding common shares and publicly float 20% thereof on the
main board of the PSE.
The Offering, which is subject to receipt of Philippine
regulatory approvals, operating performance and market
conditions, will comprise a secondary offering of common
shares of OGPI, with the proceeds to be received by a wholly owned
subsidiary of OceanaGold. The proposed Offering price will be
determined in the context of the market through a book building
process with a maximum up-to price of ₱17.28 per share
(US$0.31 per share), and a maximum
sale of 456,000,000 common shares. The Offering is being led by BDO
Capital & Investment Corporation as Global Coordinator and
Domestic Underwriter and Bookrunner, with CLSA Limited as
International Underwriter.
To comply with Philippine regulatory requirements, the draft
preliminary prospectus, which contains important information in
relation to the Offering, and accompanying Philippine Mineral
Reporting Code technical report with respect to the Didipio Mine,
have been made available to Philippine residents on
https://www.didipiomine.com.ph/. The Company notes that its
technical report titled "NI 43-101 Technical Report Didipio
Gold/Copper Operations Luzon Island, Philippines" dated March 31, 2022 with an effective date of
December 31, 2021 (the "Didipio
Technical Report"), which is available on SEDAR+ at
www.sedarplus.com and the Company's website, remains the Company's
current technical report for the purposes of National Instrument
43-101 – Standards of Disclosure for Mineral Projects ("NI
43-101").
Didipio Underground Optimization
Update
The Underground Optimization work assessed the potential for
increased underground mining rates, as well as potential resource
extensions below the current reserve limit of Panel 2 (2100 mRL).
Preliminary findings include:
- The potential to increase total underground material movement
to approximately 2.5Mtpa (from the current 1.75Mtpa), displacing
lower grade stockpile ore and thereby increasing the overall feed
grade to the mill;
- The potential to increase mill throughput from the current
4.0Mtpa to the already permitted 4.3Mtpa to maximize the benefit of
processing the larger volume of higher-grade underground ore;
- The potential to extend mine life and increase gold and copper
production through further resource conversion drilling and
extension drilling in Panels 3 and 4 and below;
- Estimated additional life-of-mine growth capital of between
US$100 million and US$130 million for additional mine development,
expansion of the mobile equipment fleet, paste fill plant upgrade,
dewatering and ventilation; and
- The potential to generate a strong return on this growth
capital through increased gold and copper production and extended
mine life.
There is no certainty, nor can OceanaGold provide any assurance,
that the results of the Underground Optimization will be realized,
in part or at all. The findings of the work will require further
assessment and analysis, including further resource extension and
conversion drilling, and the Company intends to complete this work
with the target to publish a NI 43-101 technical report in the
first half of 2025, which is expected to include:
- Detailed mine planning and trade off analysis of higher
underground production rates and optimal cut-off grade to support
the increased underground material movement target;
- Detailed design and cost estimates for increased mobile
equipment, paste plant, ventilation, and dewatering
infrastructure;
- A power demand study for additional underground infrastructure,
and an analysis of potential equipment electrification to meet
carbon reduction commitments;
- Detailed definition of the implementation plan to deliver the
projected operational availability and utilization improvements
underpinning the increased production; and
- An updated Mineral Resource estimate to include the results of
new drilling intended to extend and increase confidence in the
Mineral Resources in Panel 3 and Panel 4 below the current reserves
level (~2100 mRL).
Didipio Year-End 2023 Mineral
Reserves and Resources
The Proven and Probable Mineral Reserves estimates at
December 31, 2023 at Didipio are
presented in Table 1 below. The year-over-year 0.08 Moz decrease in
Mineral Reserves was due to 2023 mining depletion, partially offset
by conversion of underground resources.
Total open pit stockpiles at Didipio are comprised of Proven
Mineral Reserves of 12.7 Mt at 0.38 g/t Au and 0.35% Cu (mined to a
0.4 g/t AuEq cut-off) with an additional stockpile of 5.3Mt at 0.18
g/t Au and 0.15% Cu (mined to an approximate 0.27g/t AuEq
cut-off).
Table 1: Didipio Mineral Reserves for Year-End
2023
RESERVES
|
PROVEN
|
PROBABLE
|
PROVEN &
PROBABLE
|
|
Mt
|
Au
g/t
|
Ag
g/t
|
Cu %
|
Mt
|
Au
g/t
|
Ag
g/t
|
Cu %
|
Mt
|
Au
g/t
|
Ag
g/t
|
Cu %
|
Au
Moz
|
Ag
Moz
|
Cu Mt
|
Cut-Off
|
Open Pit
Stockpiles
|
18.0
|
0.32
|
2.0
|
0.29
|
.
|
.
|
.
|
.
|
18.0
|
0.32
|
2.0
|
0.29
|
0.18
|
1.2
|
0.05
|
0.40 g/t
AuEq
|
Underground
|
14.6
|
1.56
|
1.9
|
0.43
|
5.9
|
0.95
|
1.6
|
0.36
|
20.5
|
1.38
|
1.8
|
0.41
|
0.91
|
1.2
|
0.08
|
0.76 g/t & 1.16 g/t
AuEq
|
DIDIPIO
TOTAL
|
32.6
|
0.87
|
1.9
|
0.35
|
5.9
|
0.95
|
1.6
|
0.36
|
38.6
|
0.88
|
1.9
|
0.35
|
1.10
|
2.3
|
0.14
|
|
- Mineral Reserves defined by mine designs based upon metal
prices of US$1,500/oz gold,
US$3.00/lb copper and US$17/oz silver.
- Reported estimates of contained metal are not depleted for
processing losses. Cut-offs are applied to diluted grades.
- Incremental stopes proximal to development already planned to
access main stoping areas are reported at a lower cut-off of
0.76g/t AuEq, where AuEq = Au g/t + 1.38 x Cu%.
The Measured, Indicated and Inferred Mineral Resources
(inclusive of Mineral Reserves) estimates at December 31, 2023 at Didipio are presented in
Table 2 below. The year-over-year 0.11 Moz increase in Mineral
Resources was due to 0.27 Moz of resource growth in the underground
due to successful resource conversion and extensional drilling,
partially offset by 2023 mining depletion of 0.16 Moz.
Table 2: Didipio Mineral Resources for Year-End
2023
RESOURCES
|
MEASURED
|
INDICATED
|
MEASURED &
INDICATED
|
|
Mt
|
Au
g/t
|
Ag
g/t
|
Cu %
|
Mt
|
Au
g/t
|
Ag
g/t
|
Cu %
|
Mt
|
Au
g/t
|
Ag
g/t
|
Cu %
|
Au
Moz
|
Ag
Moz
|
Cu Mt
|
Cut-Off
|
Open Pit
Stockpiles
|
18.0
|
0.32
|
2.0
|
0.29
|
.
|
.
|
.
|
.
|
18.0
|
0.32
|
2.0
|
0.29
|
0.19
|
1.2
|
0.05
|
0.40 g/t
AuEq
|
Underground
|
15.0
|
1.70
|
2.1
|
0.46
|
14.8
|
0.92
|
1.5
|
0.34
|
29.8
|
1.31
|
1.8
|
0.40
|
1.26
|
1.7
|
0.12
|
0.67 g/t
AuEq
|
DIDIPIO
TOTAL
|
33.0
|
0.95
|
2.0
|
0.37
|
14.8
|
0.92
|
1.5
|
0.34
|
47.8
|
0.94
|
1.9
|
0.36
|
1.44
|
2.9
|
0.17
|
|
|
|
|
INFERRED
|
|
|
|
|
|
|
|
|
|
Mt
|
Au
g/t
|
Ag
g/t
|
Cu %
|
Au
Moz
|
Ag
Moz
|
Cu Mt
|
Cut-Off
|
Underground
|
|
|
|
|
|
|
|
|
12
|
0.8
|
1.3
|
0.3
|
0.30
|
0.5
|
0.03
|
0.67 g/t
AuEq
|
DIDIPIO
TOTAL
|
|
|
|
|
|
|
|
|
12
|
0.8
|
1.3
|
0.3
|
0.30
|
0.5
|
0.03
|
|
- Mineral Resources are reported inclusive of Mineral Reserves.
Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability. Due to the uncertainty that may be
attached to Inferred Mineral Resources, it cannot be assumed that
all or any part of an Inferred Mineral Resource will be upgraded to
an Indicated or Measured Mineral Resource as a result of continued
exploration.
- Underground Mineral Resources estimate is reported within
optimised stope designs, above 1,800mRL, based upon metal prices of
US$1,700/oz gold, US$350/lb copper and US$20/oz silver.
- Underground Mineral Resources are estimated at 0.67 g/t AuEq
cut off, where AuEq = Au g/t + 1.39 x Cu%.
- Open pit stockpiles include 5.3 Mt of low grade at 0.27 g/t
AuEq cut-off.
Didipio Exploration
Update
The Didipio alkalic Cu-Au porphyry deposit comprises a series of
mineralised intrusions (monzonite, monzonite porphyry, pegmatite
(Balut) dyke, feldspar porphyry, syenite porphyry) and associated
quartz and monomictic breccias within a diorite stock (Figure
1).
Since the Company's news release dated August 15, 2023, 5,343 meters ("m") of resource
conversion and extensional drilling in twenty-two holes has been
completed from underground (Figure 2).
Extension Drilling
Resource extensional drilling in H2 2023 focused on: testing for
the Balut Dyke on the northern side of the Syenite Porphyry (Figure
3) and following up on the success of the late-2022 drilling which
discovered the mineralized Eastern Breccia and Feldspar Porphyry in
the east (Figure 4).
Testing of the Balut Dyke below 1980mRL and to the north of the
Syenite Porphyry has returned a positive result intersecting
disseminated and clots of chalcopyrite and bornite in an actinolite
pegmatite returning 45.4m @ 2.51g/t
AuEq in RDUG500; a similar thickness and grade to previous
intercepts of the Balut Dyke south of the Syenite Porphyry and at
higher elevations (Figure 3). Mineralization of the newly
discovered pegmatite remains open along strike and at depth while
its analogue on the south remains open at depth.
Two additional mineralized intrusives to the east were
discovered in 2022 (Eastern Breccia and Feldspar Porphyry) and were
further tested during the H2 2023 drilling program (Figure
4). The Eastern Breccia, an intrusive breccia with monzonite
and diorite clasts, contains a significant amount of Cu-Au
mineralization which occurs as fine dissemination and sulphide
veins within an intensely altered potassic zone. The Eastern
Breccia remains unexplored below 2000mRL. Mineralization in the
other mineralized intrusive, the Feldspar Porphyry Intrusion, has
been extended a further 100m
vertically.
Conversion Drilling
Resource conversion drilling in H2 2023 focused on conversion of
the Inferred Mineral Resources within the Monzonite Porphyry
directly east of the Syenite Porphyry within Panel 2 (>2100mRL)
and Panel 3 (< 2100mRL, Figure 5) and conversion of Inferred
material within the Balut Dyke to the south of the Syenite Porphyry
(Figure 4 and Figure 6).
Drilling has converted 0.27 Moz of Inferred Mineral Resources to
Indicated Mineral Resources within the Monzonite Porphyry and Balut
Dyke, providing improved confidence within Panel 3 between ~2100mRL
and 2000mRL, and demonstrating continuity of relatively high-grade
porphyry Cu-Au mineralization within the Monzonite Porphyry east of
the Syenite Porphyry (Figure 5).
2024 Exploration Program
A 28,000 m program of resource
conversion and expansion drilling is planned at Didipio underground
in 2024. Resource conversion drilling will focus on infilling Panel
3 to convert existing inferred resources, while expansion drilling
will test below 1930mRL (Panel 4), down-dip of existing
mineralization.
Regional exploration in 2024 includes (i) advancing the Napartan
target, 9km north-west of the Didipio mine with surface mapping and
sampling followed by Initial drilling of a Cu-Au mineralised
pegmatite target similar in nature to the Balut Dyke mined at
Didipio, (ii) advancing the Cabanwingan targets on approval of the
exploration tenement application, and (iii) continued regional
targeting within the Company's FTAA permit.
Table 3: Didipio significant drill intersections. Intervals
are core length, not true width. "Conversion" are intercepts within
the current resource model shell, while "Extensional" are
intercepts outside the current resource model shell.
Hole
ID
|
From
(m)
|
To
(m)
|
Interval
(m)
|
Au
(g/t)
|
Cu
(%)
|
AuEq
(g/t)
|
Target
|
Category
|
RDUG498
|
29.5
|
86
|
56.5
|
1.41
|
0.41
|
1.98
|
S. Monzonite, S.
Balut ext.
|
Conversion
|
RDUG499
|
36.4
|
97.8
|
61.4
|
0.98
|
0.29
|
1.38
|
S. Monzonite, S.
Balut ext.
|
Conversion
|
RDUG500
|
70
|
145
|
75
|
1.71
|
0.52
|
2.43
|
S. Monzonite, S.
Balut ext.
|
Conversion
|
and
|
269
|
314.4
|
45.4
|
1.95
|
0.4
|
2.51
|
N. Balut
ext.
|
Extensional
|
RDUG501
|
28
|
132
|
104
|
1.81
|
0.35
|
2.3
|
S. Monzonite, S.
Balut ext., Syenite,
N. Monzonite
|
Conversion
|
RDUG502
|
32
|
85
|
53
|
1.32
|
0.35
|
1.81
|
S. Monzonite, S.
Balut Extension,
Syenite
|
Conversion
|
RDUG503
|
63
|
124.6
|
61.6
|
4.48
|
0.98
|
5.85
|
S. Monzonite,
Balut
|
Conversion
|
RDUG504
|
29.8
|
72
|
42.2
|
1.17
|
0.44
|
1.78
|
S. Balut Extension,
S.
Monzonite,
Syenite
|
Conversion
|
RDUG505
|
31
|
90.95
|
59.95
|
1.23
|
0.37
|
1.75
|
S. Balut Extension,
Syenite
|
Conversion
|
and
|
133
|
183
|
50
|
1.18
|
0.39
|
1.72
|
Syenite, N.
Monzonite
|
Conversion
|
RDUG506
|
111
|
169
|
58
|
0.7
|
0.32
|
1.14
|
Eastern
Monzonite
|
Conversion
|
RDUG507
|
34
|
75
|
41
|
0.75
|
0.39
|
1.29
|
Eastern
Monzonite
|
Conversion
|
and
|
83
|
160
|
77
|
0.76
|
0.34
|
1.23
|
Eastern
Monzonite
|
Conversion
|
and
|
174
|
219
|
45
|
0.76
|
0.33
|
1.22
|
Eastern
Monzonite
|
Conversion
|
RDUG508
|
59
|
76
|
17
|
1.08
|
0.38
|
1.6
|
Eastern
Monzonite
|
Conversion
|
RDUG612
|
29
|
52
|
23
|
0.66
|
0.41
|
1.23
|
S. Monzonite
|
Conversion
|
and
|
92
|
143
|
51
|
1.4
|
0.42
|
1.99
|
S. Monzonite
|
Conversion
|
including
|
133
|
143
|
10
|
2.79
|
0.55
|
3.55
|
S. Monzonite
|
Conversion
|
and
|
155
|
235
|
80
|
1.08
|
0.39
|
1.62
|
N. Monzonite
|
Conversion
|
RDUG613
|
29
|
66
|
37
|
0.89
|
0.52
|
1.61
|
S. Monzonite, S.
Balut Extension
|
Conversion
|
and
|
105
|
208
|
103
|
1.48
|
0.35
|
1.96
|
S. Monzonite
|
Conversion
|
including
|
164
|
176
|
12
|
3.95
|
0.57
|
4.74
|
S. Monzonite
|
Conversion
|
and
|
222
|
231.4
|
9.4
|
3.64
|
0.96
|
4.97
|
N. Monzonite
|
Conversion
|
RDUG614
|
75
|
167
|
92
|
0.87
|
0.44
|
1.47
|
S. Monzonite and N.
Monzonite
|
Conversion
|
RDUG615
|
30
|
53
|
23
|
1.08
|
0.63
|
1.95
|
S. Monzonite
|
Conversion
|
and
|
101
|
207
|
106
|
1.05
|
0.43
|
1.64
|
S. Monzonite and N.
Monzonite
|
Conversion
|
RDUG616
|
90
|
98
|
8
|
1
|
1.64
|
3.28
|
S. Monzonite
|
Conversion
|
and
|
112
|
181
|
69
|
1.16
|
0.33
|
1.63
|
S. Monzonite
|
Conversion
|
and
|
189
|
228
|
39
|
1.52
|
0.34
|
1.98
|
N. Monzonite
|
Conversion
|
RDUG617
|
139
|
178
|
39
|
0.99
|
0.18
|
1.24
|
S. Monzonite
|
Conversion
|
and
|
214
|
240
|
26
|
1.68
|
0.41
|
2.25
|
N. Monzonite
|
Conversion
|
RDUG619
|
15
|
43
|
28
|
0.71
|
0.51
|
1.42
|
E. Monzonite
|
Conversion
|
RDUG620
|
18.3
|
56
|
37.7
|
0.63
|
0.37
|
1.15
|
E. Monzonite
|
Conversion
|
and
|
177
|
209
|
32
|
1.39
|
0.61
|
2.24
|
Feldspar
Porphyry
|
Extensional
|
RDUG621
|
23
|
90.95
|
67.95
|
0.64
|
0.42
|
1.23
|
Eastern
Breccia
|
Conversion
|
and
|
251
|
297
|
46
|
0.5
|
0.31
|
0.94
|
Feldspar
Porphyry
|
Extensional
|
RDUG622
|
5
|
53
|
48
|
0.68
|
0.47
|
1.33
|
Eastern
Breccia
|
Conversion
|
and
|
179
|
207.9
|
28.9
|
0.57
|
0.4
|
1.12
|
Feldspar
Porphyry
|
Extensional
|
For further information relating to drill hole data, please
refer to the Company's website
at https://oceanagold.com/investor-centre/tsx-asx-filings.
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 Haile Gold Mine in the United States
of America; Didipio Mine in the
Philippines; and the Macraes and Waihi operations in
New Zealand.
Notes to Mineral Reserves and
Mineral Resources Estimates
All Mineral Reserves and Mineral Resources for the Didipio Mine
were estimated as at December 31,
2023 and have been prepared in accordance with NI
43-101.
The Mineral Resources estimate for Didipio has been verified and
approved by, or is based on information prepared by, or under the
supervision of, J. Moore, the Company's Group Manager – Resource
Development, while the Mineral Reserves estimate for Didipio has
been verified and approved by, or is based upon information
prepared by, or under the supervision of, P. Jones, the Company's
Group Mining Engineer - Underground. Each of Messrs. Moore and
Jones is a qualified person under NI 43-101.
For further scientific and technical information supporting the
disclosure in this news release (including disclosure regarding
Mineral Resources and Mineral Reserves, data verification, key
assumptions, parameters, methods used to estimate the Mineral
Resources and Mineral Reserves, and risks and other factors),
please refer to the Didipio Technical Report, which is available on
SEDAR+ at www.sedarplus.com and on the Company's website.
Mineral Resources are reported inclusive of Mineral Reserves.
Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability. The estimation of Mineral
Resources is inherently uncertain and involves subjective judgments
about many relevant factors. Due to the uncertainty that may be
attached to Inferred Mineral Resources, it cannot be assumed that
all or any part of an Inferred Mineral Resource will be upgraded to
an Indicated or Measured Mineral Resource as a result of continued
exploration.
Qualified Persons
The scientific and technical information contained in this news
release relating to the Underground Optimization has been reviewed
and approved by P. Jones, a qualified person under NI 43-101. Mr.
Jones is the Company's Group Mining Engineer - Underground.
The scientific and technical information contained in this news
release relating to Didipio exploration results has been reviewed
and approved by Craig Feebrey, a Member of the Australasian
Institute of Mining and Metallurgy and qualified person under NI
43-101. Mr. Feebrey is the Company's Chief Exploration Officer.
QA/QC at Didipio Mine
Exploration diamond core samples at the Didipio Mine are
typically drilled with HQ core barrel equipment. The HQ
samples are then cut, with half of the core retained at the secure
core shed facility on site to which access is controlled. In
cases where OceanaGold has collected metallurgical samples, a
further quarter of the core has been taken with only one-quarter
core retained. Following core cutting, the half-core sample
is submitted for analysis.
Since 2013, all OceanaGold samples have been processed on-site
at a laboratory facility operated by SGS Philippines Inc ("SGS").
SGS is independent from OceanaGold. After dispatching to SGS,
samples are dried at 105 degrees C for 8 to 12 hours, allowed to
cool, and then weighed. Within the sample assay workflow, the SGS
lab randomly inserts laboratory duplicate and replicate samples as
well as certified reference materials ("CRM") for quality control
("QC") monitoring. Samples are crushed to produce 500g to
1000g of material for the primary analysis and any lab
duplicates. The remaining coarse reject material is retained
during the assay process. The sample (and any lab duplicates)
are then pulverized to 75% passing 2mm, followed by a subsequent
pulverizing to 85% passing 75um. The primary sample is then
split down to 200g (with an additional 200g for replicate sampling
when applicable). A scoop of 30g is then taken from the 200g
sample with the remaining pulp retained.
Gold analysis is by Fire Assay with AAS finish. Copper analysis
is either by AAS on a 3-acid digest or XRF. These methods are
considered appropriate for the type of mineralisation and expected
grade tenor. The quantity and quality of the lithological,
geotechnical, and geochemical data collected in the exploration,
surface resource delineation, underground resource delineation, and
grade control drill programs are considered sufficient to support
the Mineral Resources and Mineral Reserves estimation.
In addition to the internal SGS QC controls, OceanaGold also
monitors laboratory performance with the following processes:
- Inserting duplicate samples;
- Inserting CRM blanks and coarse blanks;
- Inserting CRM standards for Au, Cu, Ag; and
- Monthly monitoring of SGS duplicate, replicate, and CRM
performance.
SGS is currently certified to ISO 9001, 14001, and 45001. The
ISO 17025:2017 accreditation preparation of SGS - Didipio
Laboratory is ongoing as SGS works through the reaccreditation
process with the Philippines Accreditation Bureau. Whilst this
process is being undertaken, SGS – Didipio Laboratory has ensured
its operation is aligned with the ISO 17025:2017 standards as
supported by the satisfactory results of the 2023 audit conducted
by the SGS internal auditors. All the results included in
this summary were validated through the independent QC monitoring
by both the SGS - Didipio Laboratory and OceanaGold with the
insertion of duplicate, replicate, and blank samples, as well as
CRM with no issues noted.
Cautionary Statement Regarding
Forward-Looking Information
Certain information contained in this news release may be deemed
"forward-looking" within the meaning of applicable securities laws.
All statements other than statements of historical facts included
in this news release constitute forward-looking statements,
including but not limited to, the terms and details of the
Offering, completion of the Offering, the findings of the
Underground Optimization work, the preparation for an updated NI
43-101 on the Didipio Mine and the scope of such technical report,
information relating to future performance and reflect the
Company's expectations regarding the generation of free cash flow,
execution of business strategy, future growth, future production,
estimated costs, results of operations, business prospects and
opportunities of the Company and its related subsidiaries. Any
statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions or future events or performance (often, but not always,
using words or phrases such as "expects" or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"estimates" or "intends", or stating that certain actions, events
or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved) are not statements of historical fact and are
forward-looking statements. Forward-looking statements are subject
to a variety of risks and uncertainties which could cause actual
events or results to differ materially from those expressed in the
forward-looking statements and information. They include, among
others, the accuracy of Mineral Reserve and Mineral Resource
estimates and related assumptions, inherent operating risks and
those risk factors identified in the Company's most recent Annual
Information Form prepared and filed with securities regulators
which is available on SEDAR+ at www.sedarplus.com under the
Company's name. There are no assurances the Company can fulfil
forward-looking statements and information. Such forward-looking
statements and information are only predictions based on current
information available to management as at the date that such
predictions are made; actual events or results may differ
materially as a result of risks facing the Company, some of which
are beyond the Company's control. Although the Company
believes that any forward-looking statements and information
contained in this news release are based on reasonable assumptions,
readers cannot be assured that actual outcomes or results will be
consistent with such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and information.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements and information,
whether as a result of new information, events or otherwise, except
as required by applicable securities laws.
THIS DOCUMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN
THE UNITED STATES OR ELSEWHERE.
THE SECURITIES OF OGPI ARE NOT BEING REGISTERED UNDER THE U.S.
SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND MAY
NOT BE OFFERED OR SOLD IN THE UNITED
STATES UNLESS REGISTERED UNDER THE SECURITIES ACT OR
PURSUANT TO AN EXEMPTION FROM SUCH REGISTRATION. THERE WILL BE NO
PUBLIC OFFERING OF THE SECURITIES OF OGPI IN THE UNITED STATES. NO MONEY, SECURITIES OR
OTHER CONSIDERATION IS BEING SOLICITED BY THIS NEWS RELEASE OR THE
INFORMATION CONTAINED HEREIN AND, IF SENT IN RESPONSE TO THIS
DOCUMENT OR THE INFORMATION CONTAINED HEREIN, WILL NOT BE
ACCEPTED.
A REGISTRATION STATEMENT RELATING TO OGPI'S SHARES HAS BEEN
FILED WITH THE PHILIPPINE SECURITIES AND EXCHANGE COMMISSION, BUT
HAS NOT YET BECOME EFFECTIVE. THESE SHARES MAY NOT BE SOLD NOR
OFFERS TO BUY THEM BE ACCEPTED PRIOR TO THE TIME THE REGISTRATION
STATEMENT IS RENDERED EFFECTIVE. THIS COMMUNICATION SHALL NOT
CONSTITUTE AN OFFER TO SELL OR BE CONSIDERED A SOLICITATION TO
BUY.
SOURCE OceanaGold Corporation