News Press Releases

OCEANAGOLD ANNOUNCES CHANGE OF DIRECTORS

T.OGC | August 15, 2022

/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES/

BRISBANE, Australia, Aug. 15, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) ("OceanaGold" or the "Company") announces the following changes to the Company's Board of Directors.

Mr Michael McMullen has advised the Board of his intention to step down effective from the date of this announcement in order to devote more time to pursue his other business interests. He will be succeeded by Mr Alan Pangbourne, who will join the Company as an independent non-executive director commencing 1 October 2022.

Mr Paul Benson, Chair of Board of Directors, said, "On behalf of the Board, I would like to extend our heartfelt gratitude to Mick for his contribution to the Company. As Chair of the Board Technical Committee he oversaw the completion of the Haile technical review. His significant technical expertise has helped to guide performance improvement potential at the Company's operations, especially at the Haile Gold Mine, during a challenging time. The Board sincerely wishes him all the best."

Mr McMullen said, "OceanaGold is in a much better position now relative to when I joined the Board. With the completion of the Haile technical review, solid performance at both the Didipio and Haile operations and a stronger Management team, I am confident in the future of the Company and will be following its progress with great interest."

Mr Benson then continued, "I am delighted to welcome Alan to the Company. Alan has very diverse managerial and operational experience in the resources industry with expertise in operations, engineering and major project development. His extensive international experience as well as track record of leadership and operational excellence provides considerable technical strength to the OceanaGold Board of Directors. We look forward to him being a valuable member of the Board as the Company continues to execute its strategy and focuses on delivering shareholder returns."

Mr Pangbourne has 40 years of experience in global mining operations and is currently President and Chief Executive Officer, as well as Executive Director, of Chesapeake Gold Corp. He was previously a non-executive director and subsequently the President and CEO of Guyana Goldfields, Chief Operating Officer of SSR Mining Inc. and Vice President Projects South America for Kinross Gold Corporation.

Mr Pangbourne also held various senior roles at BHP, including President and Chief Operating Officer of Nickel Americas, Projects Director for BHP's Uranium Division and Project Manager for BHP's Spence copper project in Chile. He holds a Bachelor of Applied Science (Extractive Metallurgy) and a Graduate Diploma in Mineral Processing from the Western Australian School of Mines.

Authorised for release to market by OceanaGold Corporate Company Secretary, Liang Tang.

About OceanaGold

OceanaGold is a multinational gold producer committed to the highest standards of technical, environmental, and social performance. For 31 years, we have been contributing to excellence in our industry by delivering sustainable environmental and social outcomes for our communities, and strong returns for our shareholders. Our global exploration, development, and operating experience has created an industry-leading 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.

Cautionary Statement for Public Release

Certain information contained in this public release may be deemed "forward-looking" within the meaning of applicable securities laws. Forward-looking statements and information relate 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 OceanaGold Corporation 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 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 materially from those expressed in the forward-looking statements and information. They include, among others, the accuracy of mineral reserve and 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.sedar.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 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. Although the Company believes that any forward-looking statements and information contained in this press release is 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. The information contained in this release is not investment or financial product advice.