OCEANAGOLD RELEASES 2022 SUSTAINABILITY REPORT

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VANCOUVER, BC, May 15, 2023 /CNW/ - OceanaGold Corporation (TSX: OGC) ("OceanaGold" or the "Company") has published its annual Sustainability Report for the year ended 31 December 2022, outlining its activities across its mining operations in the United States of America, the Philippines and New Zealand.

• Achieved a record low Total Recordable Injury Frequency Rate (TRIFR) of 2.31
• Independent assurance confirmed conformance with World Gold Council Responsible Gold Mining Principles (RGMPs)
• The Board approved an interim target to reduce carbon emissions intensity by 30% by 2030
• Spent over $194 million with 2,187 local suppliers
• Completed social change assessments at each operation
• Zero category four2 environmental incidents
• New Company Vision and Values
• New Respect at Work Policy reflects commitment to a safe, inclusive and respectful workplace.

Gerard Bond, President and CEO of OceanaGold, said: "2022 was a transformational year for the Company. Most pleasingly it was our safest on record, as measured by our TRIFR of 2.3 per million hours worked.

"We are steadfast in our commitment to continuously improve our performance across the Company and in 2022, we continued to make good progress against our sustainability commitments. This included independent assurance of our compliance with the World Gold Council's RGMPs, which confirmed there were no non-conformances. We have published our results and our plans to continue enhancing our performance in our first RGMP Implementation External Assurance Report.

"As we look ahead to 2023 and beyond, sustainability remains central to our strategy and Company performance goals. It matters to our investors who rely on sustainability performance in their investment decisions, to our employees who want to work for a purpose-driven organization, and to other stakeholders who expect us to manage the impacts associated with our operations.

"This means striving to protect the environment and to create opportunities to generate long-term value, consistent with our Purpose of mining gold for a better future."

Megan Saussey, Chief Sustainability Officer of OceanaGold, said: "We take our responsibility to people and the environment seriously. This is demonstrated in the way we support our people to work safely; in the partnerships we foster and community objectives we support; in the environmental practices and initiatives we invest in, and in our commitment to integrity, high standards and governance and transparency."

The OceanaGold 2022 Sustainability Report is available here.

The 2023 RGMP Implementation External Assurance Report is available here.

The Company has also published its third annual Modern Slavery Statement, available here.

OceanaGold is a multinational gold producer committed to the highest standards of technical, environmental and social performance. We are committed 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 a strong pipeline of organic growth opportunities and a portfolio of established operating assets including the Haile Gold Mine in the United States of America, Didipio Mine in the Philippines, and the Macraes and Waihi operations in New Zealand.

www.oceanagold.com | Twitter: @OceanaGold

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 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.

SOURCE OceanaGold Corporation

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