OGC pours three millionth ounce of goldhttps://www.oceanagold.com/images/documents/files/100315_oceanagold_pours_three_millionth_ounce.pdf
MEDIA RELEASE
15 March 2010
OCEANAGOLD ACHIEVES THREE MILLION OUNCE MILESTONE IN NEW ZEALAND
(MELBOURNE) OceanaGold Corporation (ASX: OGC, TSX: OGC, NZX: OGC) (the “Company”) is pleased
to announce that the three millionth ounce of gold was poured last week at the Macraes operation in the
Otago region of New Zealand’s South Island.
First commissioned in 1990, the Macraes open-cut mine is New Zealand’s largest gold operation and has
been owned and operated by OceanaGold since the Company went public on the Australian and New
Zealand Stock Exchanges in 2004. Subsequent to the IPO in 2004, the Frasers Underground mine located
at Macraes in Otago, commissioned in 2008, and the Reefton open cut mine located in the west coast
region, commissioned in 2007, have been brought online.
In 2009, OceanaGold’s combined New Zealand operations achieved record gold production of 300,391
ounces, which now ranks as the fourth largest gold producer based in Australasia.
New Zealand Deputy Prime Minister, the Hon. Bill English MP, attended the official celebration at the
Macraes mine on Friday March 12th. Mr. English commented, “This milestone reflects the longevity and
significant contribution the Macraes operation has made to the New Zealand economy and specifically the
Otago region over the past two decades. The operations at Macraes together with the Reefton mine in the
west coast region are good examples of what responsible resource development can do for local and
national economies and demonstrates New Zealand’s mineral wealth.”
OceanaGold is a significant employer in the Otago and West coast regions and in recent years has
launched a number of unique and innovative community initiatives to provide a lasting, positive legacy for
the communities in which it operates.
These projects include an iconic Heritage and Art Park on land once used for mining at Macraes, a trout
hatchery which raises over 10,000 rainbow trout annually which are then released into fisheries throughout
the Otago region, a wetlands project to ensure biodiversity preservation and a recently signed partnership
agreement with Basketball Otago to promote basketball at all levels in the region.
2
New Zealand Deputy Prime Minister, the Hon. Bill English MP, and Mark Cadzow,
Chief Operating Officer – New Zealand, OceanaGold Corporation with gold bar
from the Macraes Mine in Otago, New Zealand containing three millionth ounce.
OceanaGold CEO, Paul Bibby, credited Macraes three million ounce milestone to the Company’s dedicated
group of mining professionals that make up the OceanaGold team in New Zealand and the operational
excellence with metallurgically complex ore bodies.
He commented, “Three million ounces is a milestone that few mines have achieved in Australasia which
highlights the extent of this gold mining region.” Mr. Bibby went on to add, “The recent Company
announcements of increased gold reserves combined with on-going brownfields exploration success
together with becoming a 100% unhedged producer marks the start of the next significant phase for
OceanaGold as a sustainable gold miner in the South Island of New Zealand.”
- ENDS -
For further information please contact:
Mr Darren Klinck
Vice President, Corporate and Investor Relations
Tel: +61(3) 9656 5300
About OceanaGold
OceanaGold Corporation is a significant Pacific Rim gold producer with projects located on the South
Island of New Zealand and in the Philippines. The Company’s assets encompass New Zealand’s largest
gold mining operation at the Macraes complex in Otago which is made up of the Macraes open pit and the
Frasers Underground mines. Additionally on the west coast of the South Island, the Company operates the
Reefton open-pit mine. OceanaGold produced more than 300,000 oz of gold from the New Zealand
3
Operations in 2009 and expects to produce 270,000 – 290,000 oz in 20101. The Company also owns the
Didipio Gold-Copper Project in northern Luzon, Philippines.
OceanaGold is listed on the Toronto, Australian and New Zealand stock exchanges under the symbol
OGC.
1 For further information on production guidance, see January 22, 2010 press release.
Cautionary Statement
Statements in this release may be forward-looking statements or forward-looking information within the
meaning of applicable securities laws. 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 may be forward-looking statements. Forward-looking statements are
subject to a variety of risks and uncertainties which could cause actual events or results to differ from those
reflected in the forward-looking statements including, among others, the accuracy of mineral reserve and
resource estimates and related assumptions, inherent operating risks, production guidance and those risk
factors identified in the Company’s Annual Information Form prepared and filed with securities regulators in
respect of its most recently completed financial year. There are no assurances the Company can fulfil such
forward-looking statements and, subject to applicable securities laws, the Company undertakes no
obligation to update such statements. Such forward-looking statements are only predictions based on
current information available to management as of 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. Accordingly, readers should not place undue reliance on forward-looking statements. It
is also noted that mineral resources that are not mineral reserves do not have demonstrated economic
viability.
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO US NEWSWIRE SERVICES.