OGC

Interested in OceanaGold Co.? Here are five stocks we like better. Strong second-quarter performance: OceanaGold produced approximately 139,000 ounces of gold and generated $130 million in free cash flow, ending the quarter with $655 million in cash and no debt. Adjusted EBITDA rose 84% year over year, while the adjusted EBITDA margin reached a record 61%. Shareholder returns and growth spending remained significant: The company returned $78 million to shareholders in the quarter and had repurchased $134 million of stock under its 2026 authorization. First-half growth investments focused mainly on the Waihi North and Haile Leadbetter Underground projects. Second-half production is expected to improve, but costs remain pressured: Management anticipates peak annual gold production in the fourth quarter, led by stronger Haile output, while full-year all-in sustaining costs are likely to be near the upper end of guidance due to labor, maintenance, diesel and lower silver-credit costs. OceanaGold (TSE:OGC) reported second-quarter 2026 gold production of about 139,000 ounces and copper production of 2,700 tonnes, with management saying results were in line with plan and kept the company on track to meet full-year guidance. President and Chief Executive Officer Gerard Bond said quarterly gold output rose 7% from the first quarter. The company generated $130 million of free cash flow after investments in growth projects, bringing year-to-date free cash flow to $385 million. OceanaGold ended the quarter with $655 million in cash, up 6% sequentially, and remained debt-free. → No Hangover: Revisiting Microsoft One Week After Earnings “We had a really good second quarter,” Bond said, citing stronger production, progress on organic growth projects, shareholder returns and a higher cash balance. Chief Financial Officer Marius van Niekerk said OceanaGold recorded a quarterly adjusted EBITDA margin of 61%, which he described as a record. The margin benefited from lower cost of sales and a lower additional government share at Didipio. → MarketBeat Week in Review – 08/03 - 08/07 Revenue totaled $647 million during the quarter, based on an average realized gold price of just over $4,400 per ounce, reflecting the timing of gold sales. Compared with the same quarter a year earlier, adjusted EBITDA increased 84%, operating cash flow rose 38%, and earnings per share more than doubled to $0.99. Free cash flow per share was $0.58. The company returned $78 million to shareholders through dividends and share repurchases during the second quarter. First-half shareholder returns totaled $174 million. OceanaGold has authorization for up to $350 million in share repurchases during 2026 and had bought back $134 million of stock as of the call. → Why the Landlord of the AI Boom Could Outlast the Chipmakers For the first half, the company spent $165 million on sustaining capital, $118 million on growth capital and $25 million on exploration. Bond said the growth investments were primarily directed toward the Waihi North project and the Leadbetter Underground development at Haile. Management expects third-quarter gold production to be similar to the second quarter, followed by the company’s highest gold production of the year in the fourth quarter. The anticipated second-half improvement is expected to be driven by stronger output at Haile, while higher production and a lower rate of sustaining capital should reduce all-in sustaining costs in the third and fourth quarters. However, Bond said full-year all-in sustaining costs are expected to be near the upper end of OceanaGold’s guidance range. The company cited labor-cost inflation, increased maintenance and reliability spending, higher diesel prices and lower-than-expected silver by-product credits. Van Niekerk said the company has experienced no operational or fuel-supply disruption related to the Iran conflict. OceanaGold has hedged roughly 80% of diesel requirements at Haile and Macraes, and has extended 80% diesel hedging across all operations beginning in the first quarter of 2027. If oil prices around $100 per barrel persist through the rest of 2026, management estimates an all-in sustaining cost impact of approximately $25 per ounce. At Haile, OceanaGold produced 60,000 ounces of gold in the quarter, supported by better access to open-pit ore at Leadbetter 3 and higher-grade material from the Horseshoe Underground. Chief Operating Officer Bhuvanesh Malhotra said Haile achieved record monthly mill throughput in June, its highest level since commissioning in 2017. Development of the decline toward the Palomino Underground mine remained on schedule for first ore in 2028. Bond said the development is expected to provide improved drilling access to areas including Pisces and Horseshoe Underground. The company also approved a paste plant at Haile. Malhotra said the facility is expected to shorten stope sequencing cycles, reduce the required pace of tailings-dam raises and help extend tailings capacity. Macraes had an “exceptional” first half, according to Malhotra, producing 64% of the midpoint of its annual guidance due to higher grades from the Innes Mills open pit. Output is expected to decline in the second half while remaining within full-year production and cost guidance. Waste stripping continued at Coronation North ahead of planned ore access later this year. The company expects to submit its Macraes Phase IV Fast Track application in the third quarter as part of mine-life extension planning. Macraes produced its 6 millionth ounce of gold in July. Management is also evaluating further expansion opportunities that could potentially extend the asset’s mine life into the 2040s. At Waihi, second-quarter production was just under 17,000 ounces. Costs were affected by processing lower-grade stockpile material, but management expects lower costs in the second half as higher-grade underground stopes become available. Waihi also recorded its highest quarterly mill throughput since becoming an underground-only operation in 2016. Waihi North reached a key milestone in May with the opening of the portal and the start of decline development toward the Wharekirauponga underground orebody. The decline had advanced nearly 200 meters as of the call. Management said ground conditions have tracked expectations, supported by prior geotechnical drilling. The project’s service trench was completed in July, while commissioning of an expanded water-treatment plant is expected by the end of the third quarter. OceanaGold plans to add a second underground jumbo to begin twin tunnels toward Wharekirauponga. Drilling at the project is accelerating, with five rigs now active. Didipio produced more than 21,000 ounces of gold and about 2,700 tonnes of copper in the quarter. Gold production improved from the first quarter despite some mill downtime, while underground mining rates increased and decline development resumed. Management expects higher gold and copper production, along with lower all-in sustaining costs, in the second half. OceanaGold also increased exploration activity at Didipio, with three underground drill rigs operating and another testing mineralization at depth. Drilling continues at True Blue, located about 800 meters northeast of Didipio, as the company targets the addition of mineral resources by year-end. OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America ; the wholly-owned Macraes and Waihi operations in New Zealand ; and the 80%-owned Didipio Mine in the Philippines. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "OceanaGold Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

(All financial figures in United States dollars unless otherwise stated) Produced 138,800 ounces of gold, on track to deliver on full year guidance. Strong Free Cash Flow† of $130 million, with cash of $655 million and no debt at quarter end. Advanced growth projects and returned $78 million to shareholders via buybacks and dividends. VANCOUVER, BC, Aug. 5, 2026 /CNW/ -- OceanaGold Corporation (TSX: OGC) (NYSE: OGC) ("OceanaGold" or the "Company") reported its operational and financial results for the three and six months ended June 30, 2026. The consolidated financial statements and Management's Discussion and Analysis ("MD&A") are available at www.oceanagold.com. Second Quarter Highlights On track to achieve full year production, cost and capital guidance, with production expected to increase and costs to decrease in the second half of 2026. Safely and responsibly produced 138,800 ounces of gold and 2,700 tonnes of copper, an increase in gold production of 7% from the prior quarter. All-In Sustaining Cost ("AISC")† of $2,151 per ounce in the quarter, expected to decrease in the second half of 2026 with higher gold production and lower sustaining capital. Revenue of $647 million at an average realized gold price of $4,433 per ounce, reflecting gold sales weighted towards the end of the quarter as gold production increased at Haile. Net profit1 of $222 million, EPS of $0.99 and record adjusted EBITDA Margin† of 61%. Generated strong quarterly Operating Cash Flow of $314 million. Free Cash Flow† of $130 million, and $385 million year to date. Cash balance increased by 6% to $655 million with no debt and revolving credit facility undrawn. Returned $78 million to shareholders in the quarter, via dividends and share buybacks. Completed $58 million in share buybacks during the quarter and $134 million year to date, with up to $350 million approved for 2026. Listed on the New York Stock Exchange ("NYSE") on April 7, 2026, with trading volumes increasing. Reported additional high-grade drill results at Haile, highlighting the ongoing success of drilling to support resource growth and conversion, and continuing to demonstrate upside potential. Development of the decline towards Wharekirauponga commenced in May 2026, progressing to plan. Macraes produced its 6 millionth ounce of gold in July 2026, since beginning production in 1990. Gerard Bond, President and CEO of OceanaGold, said "We are pleased to deliver another quarter of solid gold production, generating strong free cash flow which allows us to invest in our attractive organic growth projects, strengthen our balance sheet and still return meaningful capital to shareholders. During the quarter we commenced development of the decline towards the high-grade Wharekirauponga orebody, a significant milestone in advancing the Waihi North Project, and are progressing to plan. At Haile, we continued to progress the Palomino decline and released additional high-grade drill results that further demonstrate our ability to add value through the drill bit. With increased gold production expected in the second half of the year we remain focused on delivering on our guidance, reducing our unit costs, generating further free cash flow and continuing to create value for our shareholders." Results Overview Outlook The Company's 2026 production, cost and capital Guidance is outlined in the table below and remains unchanged. Production is expected to increase in the second half of the year, with consolidated third quarter production expected to be similar to the second quarter, and the fourth quarter being the strongest of the year. At Haile, gold production is expected to increase in the third quarter, then again in the fourth quarter driven by higher grades mined in the Ledbetter Phase 3 open pit and the Horseshoe Underground. Macraes production is expected to be lower in the third and fourth quarters as per plan, while production at Waihi is expected to remain relatively consistent through the remainder of the year. At Didipio, production is expected to be higher in the third and fourth quarters driven by an increase in underground mining rates. Consolidated AISC† is anticipated to be near the upper end of the Company's 2026 Guidance range, reflecting labour cost inflation, continued investment in maintenance and reliability improvements, unhedged energy costs and lower silver by-product credits. Consolidated AISC† is expected to be lower in the third quarter and again in the fourth quarter, underpinned by lower sustaining capital and higher production at Haile. AISC† at each of Haile, Didipio and Waihi is expected to reduce in the second half of the year. AISC† at Macraes is expected to increase in the second half, with its full-year AISC† expected to be within its Guidance range. Total capital investment guidance remains unchanged, with spending on growth capital expected to increase in the second half of the year, primarily driven by the continued investment in the Waihi North and Palomino Underground Projects and waste stripping activities at Haile, while sustaining capital across the portfolio is expected to decrease in the second half of the year. 2026 Full-Year Guidance Waihi North Project OceanaGold is permitted to develop and operate the Waihi North Project, which includes the high-grade Wharekirauponga Underground mine. Construction and underground tunnelling activity to the underground mine continues to ramp up with overall project development progressing on schedule for first ore in 2032. Following completion of the portal, decline development commenced in May 2026 and is progressing in line with plan, nearing 200 metres to date. The next key milestone involves the addition of a second jumbo to begin the twin incline towards the Wharekirauponga orebody. Execution of bulk earthworks accelerated at the Willows Portal site in the second quarter and earthwork activities related to drainage, dams, roads, magazine and the surface facilities area remain on track for completion by year-end. Construction of the services trench connecting the existing Waihi operations with the Willows surface facilities, providing power, water and communications infrastructure, was completed in July. Construction of the water treatment plant remains ongoing, with commissioning expected by the end of the third quarter. Early works activities on TSF 3 are expected to commence in the fourth quarter. Dividend OceanaGold has declared a $0.09 per share dividend payable in September 2026. Shareholders of record at the close of business in each jurisdiction on August 19, 2026 (the "Record Date") will be entitled to receive payment of the dividend on September 18, 2026. The dividend payment applies to holders of record of the Company's common shares traded on the TSX and the NYSE. Dividends are payable in United States dollars. Shareholders in other jurisdictions can elect to participate in Computershare's international payments service if they want to receive dividends in an alternative currency. This dividend qualifies as an 'eligible dividend' for Canadian income tax purposes. Share Buyback In the first half of 2026, the Company completed $134 million of share repurchases. In February, the Company announced approval to apply up to $350 million towards share buybacks in 2026. The Company recently renewed its Normal Course Issuer Bid for another 12 months. Conference Call and Webcast: Senior management will host a conference call and webcast to discuss the quarterly results on Thursday, August 6, 2026 at 10:00 am EDT (7:00 am PDT). To participate in the conference call, please use one of the following methods: Webcast: https://app.webinar.net/Px0arqjVm9v Toll-free North America: +1 888-510-2154 International: +1 437-900-0527 If you are unable to attend the call, a recording will be made available on the Company's website. About OceanaGold OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America; the wholly-owned Macraes and Waihi operations in New Zealand; and the 80%-owned Didipio Mine in the Philippines. Cautionary Statement for Public Release This news release contains certain "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities laws which may include, but are not limited to, statements with respect to: the Company's planned production, cost and capital Guidance for 2026; the future financial and operating performance of the Company and its mining projects and the anticipated benefits therefor; the development, expansion and operation of the Company's mining projects; anticipated production levels and mine lives; the estimation, realization and classification of Mineral Reserves and Mineral Resources; costs of production; estimates of growth capital, sustaining capital, operating and exploration expenditures; costs and timing of the development of new deposits and mines; the availability of, and access to, labour, equipment, power, diesel, water and other inputs; the timing, cost and outcome of development, construction and expansion activities; timing for the execution of bulk earthworks, construction and commissioning of the water treatment plant and first ore at the Waihi North Project; costs and timing of future exploration and drilling programs, including the Company's site and regional exploration programs; water management initiatives and strategies and tailings management initiatives at the Company's operations; requirements for additional capital; the adequacy of current financial resources and cash reserves; governmental regulation of mining operations and exploration operations; the timing and receipt of required permits, certifications, approvals, consents and renewals under applicable legislation; the amount of and timing for anticipated purchases under the NCIB program; the payment of dividends in future periods; compliance with applicable environmental, social, health and safety and other regulatory requirements; geotechnical and operational conditions; social licence to operate and stakeholder relationships; competition for mineral properties; the availability and terms of financing; foreign operations and political, economic and regulatory conditions in the jurisdictions in which the Company operates; expectations regarding the impacts of the U.S.-Iran international conflict on the Company's operations, including potential impacts to operating and capital costs; governmental regulation of mining operations and exploration operations; fluctuations in commodity prices, including gold, copper and silver, and foreign exchange rates; anticipated environmental risks; the limitations and adequacy of insurance coverage; title matters, disputes, claims and land access; changes in laws, taxation and accounting standards; and the timing and possible outcome of pending legal proceedings, regulatory matters and other disputes, including the appeal to the permit approval for the Waihi North Project. All statements in this news release that address events or developments that the Company expects to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "may", "plans", "expects", "projects", "is expected", "scheduled", "potential", "estimates", "forecasts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases, or may be identified by statements to the effect that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks include, among others: the risk of not achieving the Company's production estimates, forecasts or Guidance; inaccuracy of Mineral Reserves, Mineral Resources and operating and capital cost estimates; the actual results of current and future production, development and/or exploration activities; possible variations of ore grade, metallurgy or recovery rates; changes in mine plans, project parameters or assumptions as plans continue to be refined; delays in, or inability to complete, development or construction or expansion activities or to re-commence or sustain operations as planned; failures or underperformance of plant, equipment, infrastructure or processes; geotechnical risks or events, including open pit wall stability, crown pillar failure, land subsidence and tailings dam failures; scarcity in and disruption of global supply chain and/or increases in prices, including as a result of international conflicts, such as the U.S.-Iran conflict; challenges associated with effective water management; environmental, health and safety and climate-related risks; risks related to community acceptance, stakeholder engagement and social licence to operate; competition for mineral properties and other growth opportunities; legal and regulatory challenges to current and future permits, certifications, approvals or licences; adverse judicial, regulatory or governmental decisions; delays in, or inability to obtain, financing or governmental approvals on acceptable terms; changes in laws, regulations, taxation regimes, regulated accounting standards or their interpretation or application; the risks associated with operating in foreign jurisdictions, including political instability, changes in policy or law, civil unrest, blockades or conflict; fluctuations in the prices of gold, copper and silver; general business, economic and market conditions (including changes in global, national or regional financial, credit, currency or securities markets); changes or developments in global, national or regional political and social conditions; fluctuations in foreign exchange rates, including the value of the U.S. dollar relative to the Canadian dollar, the New Zealand dollar or the Philippine peso; trade policies and tensions, including tariffs; inflationary pressure; labour availability, retention and turnover; accidents, labour disputes, work stoppages and other operational risks of the mining industry; limitations of insurance coverage or uninsured risks; the conclusions of economic evaluations, studies and models; information technology, artificial intelligence and cybersecurity risks; and those other factors identified and described in more detail in the section entitled "Risk Factors" contained in the Company's most recent Annual Information Form and the Company's other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission ("SEC"), which are available under the Company's profile on SEDAR+ at sedarplus.ca and on EDGAR at sec.gov, respectively, and on the Company's website at oceanagold.com. The list is not exhaustive of the factors that may affect the Company's forward-looking statements. The Company's forward-looking statements are based on the applicable assumptions and factors Management considers reasonable as of the date hereof, based on the information available to Management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to the Company's ability to carry on current and future operations, including: exploration and development activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve Guidance, estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold, copper and silver; foreign exchange rates; taxation levels; the timely receipt of necessary permits, certifications, approvals or licences; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry. The Company's forward-looking statements are based on the opinions and estimates of Management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. The Company does not assume any obligation to update forward-looking statements if circumstances or Management's beliefs, expectations or opinions should change other than as required by applicable laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities the Company will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements. Cautionary Statements for United States Readers The scientific and technical disclosure in this news release was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"), which differs from the scientific and technical disclosure requirements of the SEC that are applicable to domestic United States reporting companies. Any Mineral Reserves and Mineral Resources reported by the Company in accordance with NI 43-101 may not qualify as such under SEC standards, including Subpart 1300 of Regulation S-K under the United States Securities Exchange Act of 1934, as amended. As a foreign private issuer that is eligible to file reports with the SEC pursuant to the multi-jurisdictional disclosure system, the Company is not required to provide disclosure on its mineral properties under applicable SEC rules and regulations and provides disclosure under NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum (the "CIM") – CIM Definition Standards on Mineral Resources and Mineral Reserves, adopted by the CIM Council, as amended. Accordingly, Mineral Resources and Mineral Reserves information and other scientific and technical information contained or referenced in this news release may not be comparable to similar scientific and technical information disclosed by United States public companies subject to the reporting and technical disclosure requirements of the SEC. Historical results or feasibility models presented herein are not guarantees or expectations of future performance. Qualified Persons Mr. Greg Hollett, the Company's Head of Mine Engineering, a qualified person as defined by NI 43-101, has reviewed and approved the disclosure of all scientific and technical information related to Haile operational matters contained in this news release. Mr. Euan Leslie, the Company's Group Mining Engineer, and Mr. Knowell Madambi, the Company's Manager – Technical Services & Projects, Macraes, each of whom is a qualified person as defined by NI 43-101, have reviewed and approved the disclosure of all scientific and technical information related to Macraes operational matters contained in this news release. Messrs. Leslie and David Townsend, the Company's Manager – Mining (Underground), Waihi, each of whom is a qualified person as defined by NI 43-101, have reviewed and approved the disclosure of all scientific and technical information related to Waihi operational matters contained in this news release. Mr. Phillip Jones, the Company's Head of Underground Mining, a qualified person as defined by NI 43-101, has reviewed and approved the disclosure of all scientific and technical information related to Didipio operational matters contained in this news release. Mr. Keenan Jennings, the Company's Executive Vice President and Chief Exploration Officer, a qualified person as defined by NI 43-101, has approved the scientific and technical information regarding exploration matters contained in this news release. Non-IFRS Financial Information Adjusted Net Profit/(Loss) and Adjusted Earnings/(Loss) per share These are used by Management to measure the underlying operating performance of the Company. Management believes these measures provide information that is useful to investors because they are important indicators of the strength of the Company's operations and the performance of its core business. Accordingly, such measures are intended to provide additional information and should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS. Adjusted net profit/(loss) is calculated as net profit/(loss) less the impact of non-recurring items and significant recurring non-cash items. Including impairment expenses and reversals, write-downs, foreign exchange (gains)/losses, gain on sale of assets and listing costs. Management believes that the presentation of Adjusted Net Profit/(Loss) and Adjusted Earnings/(Loss) per share is appropriate to provide additional information to investors regarding items that Management does not expect to continue at the same level in the future or that Management does not believe to be a reflection of the Company's ongoing operating performance. The following table provides a reconciliation of Adjusted Net Profit/(Loss) and Adjusted Earnings/(Loss) per share: EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin Management believes that Adjusted EBITDA is a valuable indicator of its ability to generate liquidity by producing operating cash flows to fund working capital needs, service debt obligations and fund capital expenditures. EBITDA is defined as earnings before interest, tax, depreciation and amortization. Adjusted EBITDA is calculated as EBITDA less the impact of non-recurring items and significant recurring non-cash items. Including impairment expenses and reversals, write-downs, gains/losses on disposal of assets, listing costs, foreign exchange gains/losses and other non-recurring costs. Adjusted EBITDA Margin is calculated as Adjusted EBITDA divided by revenue. The following table provides a reconciliation of EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin Cash Costs and AISC Cash Costs are a common financial performance measure in the gold mining industry; however, it has no standard meaning under IFRS. Management uses this measure to monitor the performance of the Company's mining operations and its ability to generate positive cash flows, both on an individual site basis and an overall company basis. Cash Costs include mine site operating costs plus indirect taxes and selling cost net of by-product allocations and are then divided by ounces sold. In calculating Cash Costs, the Company includes the value of cash-settled stock-based compensation in the year of vesting. Cash Costs are reduced by copper and silver by-product cost allocations that are considered incidental to the gold production process, thereby allowing Management and other stakeholders to assess the net costs of gold production. The measure is not necessarily indicative of cash flow from operations under IFRS or operating costs presented under IFRS. Management believes that the AISC measure provides additional insight into the costs of producing gold by capturing all of the expenditures required for the discovery, development and sustaining of gold production and allows the Company to assess its ability to support capital expenditures to sustain future production from the generation of operating cash flows, both on an individual site basis and an overall company basis, while maintaining current production levels. Management believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow per ounce sold. AISC is calculated as the sum of Cash Costs, capital expenditures and exploration costs that are sustaining in nature and corporate G&A costs. AISC is divided by ounces sold to arrive at AISC per ounce. The following table provides a reconciliation of consolidated Cash Costs and AISC: The following tables provide a reconciliation of Cash Costs and AISC for each operation: Haile Macraes Waihi Didipio Net Cash/(Debt) Net Cash/(Debt) has been calculated as total debt plus cash and cash equivalents. Management believes this is a useful indicator to be used in conjunction with other liquidity and leverage ratios to assess the Company's financial health. The following table provides a reconciliation of Net Cash/(Debt): Operating Cash Flow before working capital movements Operating Cash Flow before working capital movements is calculated as the cash flows provided by operating activities adjusted for changes in working capital. The following table provides a reconciliation of Operating Cash Flow before working capital movements: Free Cash Flow Free Cash Flow is calculated as cash flows from operating activities, less cash flow used in investing activities. Management believes Free Cash Flow is a useful indicator of the Company's ability to generate cash flow and operate net of all expenditures, prior to any financing cash flows. The following table provides a reconciliation of Free Cash Flow: View original content to download multimedia:https://www.prnewswire.com/news-releases/oceanagold-reports-second-quarter-2026-results-302844241.html

Toronto, Ontario--(Newsfile Corp. - July 13, 2026) - Carolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) ("Carolina Rush" or the "Company") reports results from Hole B26C-039 ("Hole 39"), the third and final hole of the initial deep drill program at the Brewer Gold-Copper Project in South Carolina, USA, funded under the Company's earn-in agreement with OceanaGold Corporation (TSX: OGC) (NYSE: OGC) ("OceanaGold"). Hole 39 was drilled approximately 400 meters southeast of Hole 37 and collared just west of the former Brewer mine, intersecting significant gold-copper mineralization and demonstrating lateral continuity of the Brewer epithermal system in a previously untested area. Hole 39 completes the initial three-hole deep porphyry exploration drilling campaign at Brewer. In conjunction with Holes 37 and 38, results from Hole 39 support the geologic model of a shallow northwest dipping alteration system and strengthens the Company's interpretation that the core of the copper-gold porphyry system is located further west-northwest and remains untested by drilling. Highlights 51 meters grading 0.62 g/t gold ("Au") and 0.22% copper ("Cu") from 214.0 meters, including: Au-Cu mineralization encountered in Hole 39 represents a 50-meter step out from the nearest intercept used to calculate the current Mineral Resource Estimate; Mineralization remains open for expansion and demonstrates continuity of the broader Brewer hydrothermal system; The result highlights potential opportunities for future resource growth while complementing the Company's ongoing evaluation of deeper exploration targets. Carolina Rush CEO, Layton Croft, stated: "Hole 39 demonstrates that Brewer continues to offer opportunities for value creation. While recent drilling has advanced our understanding of the deeper hydrothermal system and potential porphyry targets, Hole 39 has intersected a significant gold-copper interval outside the current resource footprint, highlighting an additional opportunity to grow the existing resource. The completion of this initial drill campaign has substantially improved our understanding of Brewer's geological architecture and provides a stronger foundation for evaluating both resource expansion opportunities and deeper exploration targets as the Company advances planning for the next phase of exploration." Hole 39 ResultHole 39 was designed to test the southern margin of a large low-resistivity anomaly that was initially targeted in Hole 37 (see May 4, 2026 news release). The hole was collared just west of the former Brewer mine, which enabled it to also test the near surface breccia-hosted mineralization west of Brewer's current mineral resource. The hole intersected: Mineralization is hosted within a diatreme breccia and consists of gold and copper associated with sulfide-bearing hydrothermal alteration characteristic of the Brewer epithermal system. The primary copper bearing mineral identified in hole 39 is chalcocite (Figure 4). The intersection extended mineralization approximately 50 meters from the nearest drillhole (B23C-018) and demonstrates the potential for significant mineralization to extend beyond the limits of the existing Mineral Resource Estimate. Hole 39 was drilled to a total depth of 917m and confirmed that the low-resistivity anomaly below the former Brewer mine is not associated with an underlying intrusion. Figure 1. Location of Phase 1 Deep Drill Program Holes To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5156/304416_f677573cc4372a5d_003full.jpg Figure 2. Cross Section A-A' with Geologic Interpretation of Recently Completed Deep Drillholes (view to the west-southwest) To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5156/304416_f677573cc4372a5d_004full.jpg Figure 3. Cross Section B-B' with Results from Hole 39 (view to the north) To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5156/304416_f677573cc4372a5d_005full.jpg Figure 4. Examples of breccia hosted Au-Cu mineralization encountered in Hole 39. Figure 4 description. A) Au-Cu mineralized breccia (1.5m @ 2.0 g/t Au, 0.8% Cu). B) Chalcocite mineralization (1.0m @ 1.7 g/t Au, 2.5% Cu) To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/5156/304416_f677573cc4372a5d_006full.jpg Significance of the Results The Brewer Project currently hosts a NI 43-101 Mineral Resource Estimate comprising: 192,000 ounces of gold and 16.7 million pounds of copper in the indicated category; 210,000 ounces of gold and 8.3 million pounds of copper in the inferred category; and An additional 129,000 ounces of gold and 9.7 million pounds of copper contained within historical backfill material classified as inferred. The Mineral Resource Estimate is supported by a technical report entitled "NI 43-101 Technical Report and Mineral Resource Estimate - Brewer Project", with an effective date of March 20, 2025. The report is filed on SEDAR+ (www.sedarplus.ca) and available on the Company's website. Hole 39 intersected gold-copper mineralization 50 meters beyond the nearest drill hole that was used in the 2025 resource estimate and confirms that mineralization remains open for expansion. While Hole 39 was not designed as a resource delineation hole, the intersection confirms that significant gold-copper mineralization occurs beyond the boundaries of the current Mineral Resource Estimate and identifies areas for future follow-up drilling. Completion of Initial Deep Drill Program Hole 39 marks the completion of the initial three-hole deep drilling campaign conducted under the OceanaGold earn-in agreement. Collectively, several important conclusions can be made from the recently completed program: Hole 37 identified an extensive deep hydrothermal system characterized by widespread alteration, porphyry-style veining and chalcopyrite-bearing copper mineralization; Hole 38 confirmed the presence of porphyry-related copper-gold mineralization below Brewer's lithocap within a newly recognized chlorite alteration zone with remnant biotite and A-type quartz veins, strengthening vectors toward a porphyry copper-gold source; Hole 39 intersected significant gold-copper mineralization outside the current resource footprint, demonstrating that mineralization remains open beyond the current resource limits and warrants further evaluation. The Company will now integrate all geological, structural, geochemical, and alteration data from the recent program, which will inform prioritization of drill targets for a potential follow-up program. Any follow-up exploration will be conducted subject to OceanaGold's earn-in funding commitment and the Company's ongoing evaluation of Brewer's broader exploration model. The Company emphasizes that references to porphyry-style mineralization are conceptual and exploratory in nature, and there is no certainty that further drilling will define economic mineralization. Quality Assurance and Quality Control StatementThe Company's 2026 exploration diamond core drilling was HQ and/or NQ size. The core was logged and marked for sampling and assaying by geologists contracted by Rush. Samples, typically 2 meters in length, were sawn in half using a diamond core saw and one-half of the core was placed in sample bags and tagged with unique sample numbers, while the remaining half was kept in the core box for reference. Each bagged core sample was shipped to ALS Laboratory in Reno, NV where it was dried, crushed and pulverized to >80% passing -200 mesh. Gold was analyzed by fire assay (30 g) with an AA (atomic absorption) finish (method Au-AA23) with detection limits of 0.005 g/t gold. Samples containing greater than 10.0 g/t gold are analyzed by fire assay with a gravimetric finish (method Au-GRA21). Multielement analyses were analyzed with ICP-MS following a four-acid digestion (method ME-MS61) and samples containing >1.0% copper are reanalyzed using method Cu-OG62. ALS Minerals is accredited in accordance with International Standard ISO/IEC 17025:2017 and also inserts its own certified reference materials plus blanks and duplicates. Strict sampling and QA/QC protocols are followed, and assay integrity is monitored internally with a quality control program including the insertion of standards and blanks every 10th sample within the sample stream. Assay results are reviewed, and discrepancies are investigated prior to incorporation into the Company's database. Qualified Person StatementThe technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Patrick Quigley, MSc, CPG-12116, the Company's Senior Geologist and Exploration Manager and a Qualified Person as defined by NI 43-101. OceanaGold PartnershipThe Brewer Gold-Copper Project is currently being explored in partnership with OceanaGold under an earn-in agreement whereby OceanaGold may earn up to an 80% interest in Brewer by funding US$20 million in exploration expenditures and exercising Carolina Rush's underlying Brewer Option before the end of 2030. The Company confirms OceanaGold has satisfied its minimum US$1.5 million exploration expenditure commitment for Q2 2026 under the earn-in agreement. To earn a 50% interest in Brewer, OceanaGold must incur a total of US$8 million by December 31, 2027. About Carolina RushCarolina Rush Corporation (TSXV: RUSH) (OTCQB: PUCCF) is a mineral exploration company focused on the discovery of gold and copper deposits in the southeastern United States. The Company is advancing the Brewer Gold-Copper Project in Chesterfield County, South Carolina - a large, underexplored hydrothermal system with a near-surface epithermal gold NI 43-101 mineral resource and compelling exploration potential for deeper porphyry copper-gold mineralization. Brewer is currently being explored in partnership with OceanaGold Corporation (TSX: OGC) (NYSE: OGC) under a US$20 million earn-in agreement. Brewer is located 13 km from OceanaGold's producing Haile Gold Mine. Information from nearby properties is not necessarily indicative of the mineralization at Brewer. For further information, please contact:Layton Croft, President and CEO orJeanny So, Corporate Communications Manager E: [email protected]: +1.647.202.0994 For additional information, please visit our website at http://www.TheCarolinaRush.com/ and our X feed: https://twitter.com/TheCarolinaRush. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedarplus.ca. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304416

OceanaGold Corporation (NYSE:OGC) is one of the 8 Best Debt Free Gold Stocks to Buy. On May 12, 2026, OceanaGold Corporation (NYSE:OGC) announced additional high-grade drilling results from its ongoing exploration and resource conversion program at the Haile Gold Mine in the United States. President and CEO Gerard Bond said the latest drilling results continue to demonstrate Haile’s potential for reserve growth and resource expansion. Bond noted that mineralization at Horseshoe remains open in multiple directions, while Ledbetter drilling continues to improve confidence in down-plunge resource conversion. The company also said the new intercept at Clydesdale supports its emergence as a potentially significant new target area. Pixabay/Public Domain On May 6, 2026, OceanaGold Corporation (NYSE:OGC) reported operational and financial results for the first quarter of 2026. The company produced 130,100 ounces of gold and 3,200 tonnes of copper during the quarter, broadly in line with plans, with all-in sustaining costs of $2,094 per ounce. OceanaGold generated record quarterly revenue of $715M at an average realized gold price of $4,894 per ounce. EBITDA margin reached 58%, while net profit totaled $228M and EPS came in at $1.01. Operating cash flow reached a record $382M, generating free cash flow of $255M during the quarter. The company ended Q1 with a cash balance of $620M, up 30% sequentially, while maintaining no debt and leaving its revolving credit facility undrawn. During the quarter, OceanaGold also repurchased $77M worth of shares under its previously announced $350M buyback program for 2026. CEO Gerard Bond said the company entered 2026 with strong operational momentum, supported by record operating cash flow, continued capital returns to shareholders, and encouraging exploration results at Wharekirauponga. OceanaGold Corporation (NYSE:OGC) explores, develops, and operates gold and gold-copper mining assets in the United States, the Philippines, and New Zealand. While we acknowledge the potential of OGC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 33 Stocks That Should Double in 3 Years and Cathie Wood 2026 Portfolio: 10 Best Stocks to Buy. Disclosure: None. Follow Insider Monkey on Google News.

OceanaGold Corporation (TSE:OGC) just reported some strong earnings, and the market reacted accordingly with a healthy uplift in the share price. However, we think that shareholders may be missing some concerning details in the numbers. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Importantly, our data indicates that OceanaGold's profit received a boost of US$101m in unusual items, over the last year. While it's always nice to have higher profit, a large contribution from unusual items sometimes dampens our enthusiasm. When we crunched the numbers on thousands of publicly listed companies, we found that a boost from unusual items in a given year is often not repeated the next year. And, after all, that's exactly what the accounting terminology implies. If OceanaGold doesn't see that contribution repeat, then all else being equal we'd expect its profit to drop over the current year. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. We'd posit that OceanaGold's statutory earnings aren't a clean read on ongoing productivity, due to the large unusual item. Because of this, we think that it may be that OceanaGold's statutory profits are better than its underlying earnings power. But on the bright side, its earnings per share have grown at an extremely impressive rate over the last three years. Of course, we've only just scratched the surface when it comes to analysing its earnings; one could also consider margins, forecast growth, and return on investment, among other factors. So if you'd like to dive deeper into this stock, it's crucial to consider any risks it's facing. For example, we've discovered 1 warning sign that you should run your eye over to get a better picture of OceanaGold. Today we've zoomed in on a single data point to better understand the nature of OceanaGold's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

VANCOUVER, BC, May 12, 2026 /CNW/ - OceanaGold Corporation (TSX: OGC) (NYSE: OGC) ("OceanaGold" or the "Company") is pleased to announce high-grade results from its ongoing exploration and resource conversion drilling program at the Haile Gold Mine ("Haile") in the United States. Drilling Highlights (core length): Horseshoe Underground (conversion and extension drilling): 15.5 m @ 30.64 g/t Au (UGD0121) 30.5 m @ 13.86 g/t Au (UGD0113) 22.5 m @ 13.42 g/t Au (UGD0122) 18.4 m @ 9.62 g/t Au (UGD0119) 21.9 m @ 6.48 g/t Au including 3.7 m @ 23.55 g/t Au (UGD0120) 26.3 m @ 3.41 g/t Au and 44.3 m @ 3.72 g/t Au (UGD0107) Ledbetter Underground (conversion drilling): 27.9 m @ 8.60 g/t Au (DDH1313) 27.9 m @ 4.16 g/t Au (DDH1319) 18.4 m @ 3.68 g/t Au (DDH1317) 13.0 m @ 2.25 g/t Au and 17.1 m @ 8.20 g/t Au (DDH1283) 2.6 m @ 9.63 g/t Au and 3.3 m @ 40.45 g/t Au (DDH1315) Clydesdale (initial drilling): 14.5 m @ 15.81 g/t Au including 4.5 m @ 41.6 g/t Au (DDH1305) Gerard Bond, President and CEO of OceanaGold, said "Our ongoing exploration success at Haile continues to demonstrate our ability to add tremendous value through the drill bit. At Horseshoe, recent drilling points to reserve growth potential near existing infrastructure, with mineralization still open in multiple directions. Results from Ledbetter are strengthening confidence in down-plunge resource conversion, and a new significant high-grade intercept at Clydesdale confirms its potential as an emerging target area. As development of the Palomino decline progresses, we look forward to advancing these opportunities with further drilling from underground in the near term." Drill results can be viewed in 3D using VRIFY at the following link: https://vrify.com/meetings/recordings/3777660f-584a-43cb-82cc-c8fc9e773b08 VRIFY note: Drill results reflect only those set forth in OceanaGold's press release dated May 12, 2026, and do not include all historical drill results except those relevant to the current targets in this release. Horseshoe Underground The Horseshoe Underground has defined Mineral Reserves (see news release dated February 18, 2026) as well as three discrete zones of mineralization to the southwest (Horseshoe extensions), known as the upper (surface to 900mRL), middle (900mRl to 730mRL) and lower (below 730mRL) zones. Notably, all three of these zones are near both existing and planned underground development infrastructure. Success from the 2025 exploration program added Inferred Mineral Resources to the upper zone for the first time, while also expanding the Inferred Mineral Resources in the middle and lower zones. On the main Horseshoe orebody, the 2025 resource estimate resulted in conversion of Inferred to Indicated Mineral Resources in the lower mineralized zones. The 2026 drill program focuses on both resource conversion and extension of the main Horseshoe orebody and the three zones at Horseshoe extensions. At Horseshoe extensions (Figure 1), drilling totalling 14 holes for 4,372 m has targeted both conversion and extension opportunities. In the upper zone, the results of two holes - 15.5 m @ 30.64 g/t Au (UGD0121) and 18.4 m @ 9.62 g/t Au (UGD0119), confirm the continuity of the mineralization. Results from two extension holes in the upper zone - 21.9 m @ 6.48 g/t Au including 3.7 m @ 23.55 g/t Au (UGD0120) and 22.5 m @ 13.42 g/t Au (UGD0122), support expansion of the known mineralization in the area (Figure 2). Significant results between the middle and lower zones include 25.8 m @ 3.63 g/t Au (UGD0126) and 16.4 m @ 4.11 g/t Au (UGD0104), extending known mineralization to the west (Figure 2). Extensional drilling at the bottom of the lower zone returned 26.3 m @ 3.41 g/t Au and 44.3 m @ 3.72 g/t (UGD0107), adding mineralization at depth outside of the known resource. The lower zone remains open in multiple directions with additional follow-up drilling planned in this area (Figure 2). Since the last resource estimate, conversion drilling totalling 1,258 m in 4 holes has continued to target conversion of Inferred Mineral Resources in the lower levels of the main Horseshoe orebody (Figure 2). Notable intercepts include: 12.2 m @ 24.14 g/t Au (UGD0112); and 30.5 m @ 13.86 g/t Au (UGD0113). These results are in-line with the resource model and are expected to be included the next reserve update. Ledbetter Underground The Company announced in February 2026 a change in the mining method for the final pit phase of Ledbetter to an underground mining mine. This has expanded the exploration opportunity at Ledbetter, as mineralization outside the prior pit shell is now potentially economic. In 2025, the Company began a drill program targeting known mineralization with the goal of converting Inferred Mineral Resources and increasing confidence down plunge of the existing reserve in an area referred to as Lobe 3. Eight holes have been drilled since the Company's news release dated September 11, 2025, with new drilling totalling 4,306 m. The highlight of the Ledbetter drilling is 27.9 m @ 4.16 g/t Au (DDH1319) in Lobe 3, which has infilled a gap in known resources, demonstrating continuity of high-grade mineralization. To the northeast, holes DDH1315 and DDH1317 targeted the conversion of Inferred Mineral Resources and returned higher grades than the model predicted, including a result of 18.44 m @ 3.68 g/t Au (DDH1317) (Figure 3). Advanced Drilling Targets – Clydesdale & Pisces The Clydesdale target is located 100 m northwest of Palomino and approximately 300 m stratigraphically lower at approximately 800 m below surface. Drilling continues at Clydesdale with early-stage exploration results now reporting a second mineralized intercept showing good width and grade of 14.5 m @ 15.81 g/t Au (DDH1305) (refer to VRIFY). The Company has now defined two mineralized intercepts in this area (DDH1282, 6.2 m @ 4.11 g/t Au, previously reported), with additional drilling ongoing to further define the potential of this new mineralized zone. The Pisces target is located along the corridor between the Horseshoe and Palomino deposits at approximately 550 m below surface and close to existing and planned underground infrastructure. Drilling at Pisces is ongoing, with ~6,500 m planned. The work is focused on further understanding the distribution of the high-grade mineralization in the area. 2026 Exploration Program There are approximately 34,500 m of drilling planned at Haile for 2026 from both surface and underground. Drilling will continue to focus on resource conversion at Horseshoe Underground, including targeting expansions of the upper, middle and lower zones to the southwest. At Ledbetter Underground, drilling will continue to infill and test extensions to Lobe 3. Clydesdale and Pisces drilling will also continue from surface through the year, with the ability to accelerate the program once the Palomino decline is in place, providing access to new drill locations at shorter distances. Results from recent drilling and ongoing refinement of the geologic model have resulted in a better understanding on the structural controls on mineralization, allowing for the systematic generation of targets to be explored in the coming years. Table 1: Haile drill intersections subsequent to the news release dated September 11, 2025, results update. *Notes: Intervals are down hole core length, true widths have not been determined. "Initial Drilling" intercepts are associated with early-stage exploration drilling, "Extension" drilling intercepts are intercepts outside the current resource model shell directed at defining mineralization to an Inferred Mineral Resource category and "Conversion" drilling intercepts are intercepts converting Inferred Mineral Resources to Indicated Mineral Resources category. NSR = No Significant Result. For further information relating to drill hole data, please refer to the Company's website at https://oceanagold.com/operations/additional-drillhole-data. About OceanaGold OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America; the wholly-owned Macraes and Waihi operations in New Zealand; and the 80%-owned Didipio Mine in the Philippines. For further information please contact: Investor Relations: Rebecca Henare, VP, Investor Relations Tel: +1 604-678-4095 [email protected] Valerie Burns, Manager, Investor Relations Tel: +1 604-235-0742 [email protected] Media Relations: Louise Burgess, VP, Communications Tel: +1 604-403-2019 [email protected] Qualified Person Statement The scientific and technical information in this press release has been reviewed and approved by Mr. Keenan Jennings, a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101"). Mr. Jennings is the EVP, Chief Exploration Officer of OceanaGold. Quality Assurance and Quality Control ("QA/QC") From July 2017 to 2025, almost all Haile exploration core samples have been prepared at the ALS lab in Tucson, Arizona, and analyzed at the ALS lab in Reno, Nevada, each of which is independent from OceanaGold. Select resource conversion core samples were also prepared and analyzed at the SGS lab in Kershaw, South Carolina in 2025, which is also independent from OceanaGold, with confirmation pulp duplicates sent to the ALS lab in Reno, Nevada. Samples are pulverized from a 250g (ALS) or 450g (SGS) sample to 85% passing 75 mesh. Approximately 225g of pulp sample is used for fire assay. Assays are based on a 30g fire assay aliquot for gold with Atomic Absorption finish. If the gold value from Atomic Absorption is >10g/t, an additional 30g of pulp sample is fire assayed for gold using a gravimetric finish. Some holes are composited and analyzed for carbon, sulphur and multi-elements using LECO and ICP-OES methods. Both ALS and SGS labs used for OceanaGold samples are ISO 17025 certified. Blanks and standards are each inserted every 20th sample. Precision and accuracy of certified reference materials ("CRMs") compared to expected values have been consistently within 5% RSD and often within 3%. Barren marble and sand are inserted as blanks every 20th sample. CRMs from RockLabs and OREAS are inserted every 20th sample (5%). All blanks and CRMs are handled by the OceanaGold Geology Team and are stored in the locked OceanaGold office. All drill hole samples are handled and transported from the drill rigs to the secured Haile Exploration warehouse by OceanaGold personnel or contractors. Access to the property is controlled by locked doors and cameras monitored by OceanaGold security. The main gate requires an electronic employee badge to enter. Samples are packaged at the Haile Exploration warehouse by OceanaGold geologists and geotechnicians. Samples are trucked in sealed plastic barrels by certified couriers with submittal forms that are verified during sample pick-up and delivery to ALS. No sample shipments have been recorded as missing or tampered with. Technical Report For further information, please refer to the following NI 43-101 technical report available on the SEDAR+ website at www.sedarplus.ca under the Company's profile or on the Company's website at www.oceanagold.com: "NI 43-101 Technical Report Haile Gold Mine Lancaster County, South Carolina" dated March 27, 2026, with an effective date of December 31, 2025 prepared by D. Carr, Group Head of Metallurgy, G. Hollett, Group Head of Mining Engineering, B. Drury, Underground Engineering Superintendent, J. Moore, Group Head of Resource Development and D. Corley, Principal Resource Development Geologist (OceanaGold), L. Standridge and R. Cook (Call and Nicholas, Inc.), J Newton Janney-Moore and W.L. Kingston (NewFields Mining Design & Technical Services, LLC) and B. Miller (SRK Consulting (U.S.), Inc.). Each of Messrs. Carr, Hollett, Moore and Corley and Ms. Drury is an employee of OceanaGold. Cautionary Statement for Public Release This news release contains certain "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities laws which may include, but are not limited to, statements with respect to: the future exploration activities at Haile and the anticipated benefits therefor; anticipated exploration results and developments at Haile in future periods; the estimation, realization and classification of Mineral Reserves and Mineral Resources at Haile; the potential for Mineral Reserves growth at Horseshoe, Mineral Resources conversion at Ledbetter and Clydesdale as an emerging target area; anticipated advancement of exploration opportunities with further drilling as development of the Palomino decline progresses; anticipated expansion of the exploration opportunity at Ledbetter; estimates of exploration expenditures; timing of the development of new deposits; the timing, cost and outcome of exploration activities; timing and focus of the 2026 exploration and drilling programs at Haile; and geotechnical and operational conditions. All statements in this news release that address events or developments that the Company expects to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "may", "plans", "expects", "projects", "is expected", "scheduled", "potential", "estimates", "forecasts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases, or may be identified by statements to the effect that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks include, among others: the risk of not achieving the Company's production estimates, forecasts or 2026 Guidance; inaccuracy of Mineral Reserves, Mineral Resources and operating and capital cost estimates; the actual results of current and future production, development and/or exploration activities; possible variations of ore grade, metallurgy or recovery rates; changes in mine plans, project parameters or assumptions as plans continue to be refined; delays in, or inability to complete, development or construction or expansion activities or to re-commence or sustain operations as planned; failures or underperformance of plant, equipment, infrastructure or processes; geotechnical risks or events, including open pit wall stability, crown pillar failure, land subsidence and tailings dam failures; scarcity in and disruption of global supply chain and/or increases in prices, including as a result of international conflicts, such as the recent U.S.-Iran conflict; challenges associated with effective water management; environmental, health and safety and climate-related risks; risks related to community acceptance, stakeholder engagement and social licence to operate; competition for mineral properties and other growth opportunities; legal and regulatory challenges to current and future permits, certifications, approvals or licences; adverse judicial, regulatory or governmental decisions; delays in, or inability to obtain, financing or governmental approvals on acceptable terms; changes in laws, regulations, taxation regimes, regulated accounting standards or their interpretation or application; the risks associated with operating in foreign jurisdictions, including political instability, changes in policy or law, civil unrest or conflict; fluctuations in the prices of gold, copper and silver; general business, economic and market conditions (including changes in global, national or regional financial, credit, currency or securities markets); changes or developments in global, national or regional political and social conditions; fluctuations in foreign exchange rates, including the value of the U.S. dollar relative to the Canadian dollar, the New Zealand dollar or the Philippine peso; trade policies and tensions, including tariffs; inflationary pressure; labour availability, retention and turnover; accidents, labour disputes and other operational risks of the mining industry; limitations of insurance coverage or uninsured risks; the conclusions of economic evaluations, studies and models; information technology, artificial intelligence and cybersecurity risks; and those other factors identified and described in more detail in the section entitled "Risk Factors" contained in the Company's most recent Annual Information Form and the Company's other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the "SEC"), which are available under the Company's profile on SEDAR+ at sedarplus.ca and sec.gov, respectively, and on the Company's website at oceanagold.com. The list is not exhaustive of the factors that may affect the Company's forward-looking statements. The Company's forward-looking statements are based on the applicable assumptions and factors Management considers reasonable as of the date hereof, based on the information available to Management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to the Company's ability to carry on current and future operations, including: exploration and development activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve Guidance, estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold, copper and silver; foreign exchange rates; taxation levels; the timely receipt of necessary permits, certifications, approvals or licences; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry. The Company's forward-looking statements are based on the opinions and estimates of Management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. The Company does not assume any obligation to update forward-looking statements if circumstances or Management's beliefs, expectations or opinions should change other than as required by applicable laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities the Company will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements. Cautionary Statements for United States Readers The scientific and technical disclosure in this news release was prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), which differs from the scientific and technical disclosure requirements of the SEC that are applicable to domestic United States reporting companies. Any Mineral Reserves and Mineral Resources reported by the Company in accordance with NI 43-101 may not qualify as such under SEC standards, including Subpart 1300 of Regulation S-K under the United States Exchange Act of 1934, as amended. Accordingly, Mineral Resources and Mineral Reserves information and other scientific and technical information contained or referenced in this news release may not be comparable to similar scientific and technical information disclosed by United States public companies subject to the reporting and technical disclosure requirements of the SEC. Historical results or feasibility models presented herein are not guarantees or expectations of future performance. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty of measured, indicated or inferred mineral resources, these mineral resources may never be upgraded to proven and probable mineral reserves. Investors are cautioned not to assume that any part of mineral deposits in these categories will ever be converted into reserves or recovered. In addition, United States investors are cautioned not to assume that any part or all of the Company's measured, indicated or inferred mineral resources constitute or will be converted into mineral reserves or are or will be economically or legally mineable without additional work. View original content to download multimedia:https://www.prnewswire.com/news-releases/oceanagold-announces-additional-high-grade-drill-results-at-haile-302769050.html View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2026/12/c2499.html

VANCOUVER, BC, May 12, 2026 /CNW/ - OceanaGold Corporation (TSX: OGC) (NYSE: OGC) ("OceanaGold" or the "Company") is pleased to announce high-grade results from its ongoing exploration and resource conversion drilling program at the Haile Gold Mine ("Haile") in the United States. Drilling Highlights (core length): Horseshoe Underground (conversion and extension drilling): 15.5 m @ 30.64 g/t Au (UGD0121) 30.5 m @ 13.86 g/t Au (UGD0113) 22.5 m @ 13.42 g/t Au (UGD0122) 18.4 m @ 9.62 g/t Au (UGD0119) 21.9 m @ 6.48 g/t Au including 3.7 m @ 23.55 g/t Au (UGD0120) 26.3 m @ 3.41 g/t Au and 44.3 m @ 3.72 g/t Au (UGD0107) Ledbetter Underground (conversion drilling): 27.9 m @ 8.60 g/t Au (DDH1313) 27.9 m @ 4.16 g/t Au (DDH1319) 18.4 m @ 3.68 g/t Au (DDH1317) 13.0 m @ 2.25 g/t Au and 17.1 m @ 8.20 g/t Au (DDH1283) 2.6 m @ 9.63 g/t Au and 3.3 m @ 40.45 g/t Au (DDH1315) Clydesdale (initial drilling): 14.5 m @ 15.81 g/t Au including 4.5 m @ 41.6 g/t Au (DDH1305) Gerard Bond, President and CEO of OceanaGold, said "Our ongoing exploration success at Haile continues to demonstrate our ability to add tremendous value through the drill bit. At Horseshoe, recent drilling points to reserve growth potential near existing infrastructure, with mineralization still open in multiple directions. Results from Ledbetter are strengthening confidence in down-plunge resource conversion, and a new significant high-grade intercept at Clydesdale confirms its potential as an emerging target area. As development of the Palomino decline progresses, we look forward to advancing these opportunities with further drilling from underground in the near term." Drill results can be viewed in 3D using VRIFY at the following link: https://vrify.com/meetings/recordings/3777660f-584a-43cb-82cc-c8fc9e773b08 VRIFY note: Drill results reflect only those set forth in OceanaGold's press release dated May 12, 2026, and do not include all historical drill results except those relevant to the current targets in this release. Horseshoe Underground The Horseshoe Underground has defined Mineral Reserves (see news release dated February 18, 2026) as well as three discrete zones of mineralization to the southwest (Horseshoe extensions), known as the upper (surface to 900mRL), middle (900mRl to 730mRL) and lower (below 730mRL) zones. Notably, all three of these zones are near both existing and planned underground development infrastructure. Success from the 2025 exploration program added Inferred Mineral Resources to the upper zone for the first time, while also expanding the Inferred Mineral Resources in the middle and lower zones. On the main Horseshoe orebody, the 2025 resource estimate resulted in conversion of Inferred to Indicated Mineral Resources in the lower mineralized zones. The 2026 drill program focuses on both resource conversion and extension of the main Horseshoe orebody and the three zones at Horseshoe extensions. At Horseshoe extensions (Figure 1), drilling totalling 14 holes for 4,372 m has targeted both conversion and extension opportunities. In the upper zone, the results of two holes - 15.5 m @ 30.64 g/t Au (UGD0121) and 18.4 m @ 9.62 g/t Au (UGD0119), confirm the continuity of the mineralization. Results from two extension holes in the upper zone - 21.9 m @ 6.48 g/t Au including 3.7 m @ 23.55 g/t Au (UGD0120) and 22.5 m @ 13.42 g/t Au (UGD0122), support expansion of the known mineralization in the area (Figure 2). Significant results between the middle and lower zones include 25.8 m @ 3.63 g/t Au (UGD0126) and 16.4 m @ 4.11 g/t Au (UGD0104), extending known mineralization to the west (Figure 2). Extensional drilling at the bottom of the lower zone returned 26.3 m @ 3.41 g/t Au and 44.3 m @ 3.72 g/t (UGD0107), adding mineralization at depth outside of the known resource. The lower zone remains open in multiple directions with additional follow-up drilling planned in this area (Figure 2). Since the last resource estimate, conversion drilling totalling 1,258 m in 4 holes has continued to target conversion of Inferred Mineral Resources in the lower levels of the main Horseshoe orebody (Figure 2). Notable intercepts include: 12.2 m @ 24.14 g/t Au (UGD0112); and 30.5 m @ 13.86 g/t Au (UGD0113). These results are in-line with the resource model and are expected to be included the next reserve update. Ledbetter Underground The Company announced in February 2026 a change in the mining method for the final pit phase of Ledbetter to an underground mining mine. This has expanded the exploration opportunity at Ledbetter, as mineralization outside the prior pit shell is now potentially economic. In 2025, the Company began a drill program targeting known mineralization with the goal of converting Inferred Mineral Resources and increasing confidence down plunge of the existing reserve in an area referred to as Lobe 3. Eight holes have been drilled since the Company's news release dated September 11, 2025, with new drilling totalling 4,306 m. The highlight of the Ledbetter drilling is 27.9 m @ 4.16 g/t Au (DDH1319) in Lobe 3, which has infilled a gap in known resources, demonstrating continuity of high-grade mineralization. To the northeast, holes DDH1315 and DDH1317 targeted the conversion of Inferred Mineral Resources and returned higher grades than the model predicted, including a result of 18.44 m @ 3.68 g/t Au (DDH1317) (Figure 3). Advanced Drilling Targets – Clydesdale & Pisces The Clydesdale target is located 100 m northwest of Palomino and approximately 300 m stratigraphically lower at approximately 800 m below surface. Drilling continues at Clydesdale with early-stage exploration results now reporting a second mineralized intercept showing good width and grade of 14.5 m @ 15.81 g/t Au (DDH1305) (refer to VRIFY). The Company has now defined two mineralized intercepts in this area (DDH1282, 6.2 m @ 4.11 g/t Au, previously reported), with additional drilling ongoing to further define the potential of this new mineralized zone. The Pisces target is located along the corridor between the Horseshoe and Palomino deposits at approximately 550 m below surface and close to existing and planned underground infrastructure. Drilling at Pisces is ongoing, with ~6,500 m planned. The work is focused on further understanding the distribution of the high-grade mineralization in the area. 2026 Exploration Program There are approximately 34,500 m of drilling planned at Haile for 2026 from both surface and underground. Drilling will continue to focus on resource conversion at Horseshoe Underground, including targeting expansions of the upper, middle and lower zones to the southwest. At Ledbetter Underground, drilling will continue to infill and test extensions to Lobe 3. Clydesdale and Pisces drilling will also continue from surface through the year, with the ability to accelerate the program once the Palomino decline is in place, providing access to new drill locations at shorter distances. Results from recent drilling and ongoing refinement of the geologic model have resulted in a better understanding on the structural controls on mineralization, allowing for the systematic generation of targets to be explored in the coming years. Table 1: Haile drill intersections subsequent to the news release dated September 11, 2025, results update. *Notes: Intervals are down hole core length, true widths have not been determined. "Initial Drilling" intercepts are associated with early-stage exploration drilling, "Extension" drilling intercepts are intercepts outside the current resource model shell directed at defining mineralization to an Inferred Mineral Resource category and "Conversion" drilling intercepts are intercepts converting Inferred Mineral Resources to Indicated Mineral Resources category. NSR = No Significant Result. For further information relating to drill hole data, please refer to the Company's website at https://oceanagold.com/operations/additional-drillhole-data. About OceanaGold OceanaGold is a global 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 wholly-owned Haile Gold Mine in the United States of America; the wholly-owned Macraes and Waihi operations in New Zealand; and the 80%-owned Didipio Mine in the Philippines. For further information please contact: Investor Relations: Rebecca Henare, VP, Investor RelationsTel: +1 [email protected] Valerie Burns, Manager, Investor RelationsTel: +1 [email protected] Media Relations: Louise Burgess, VP, CommunicationsTel: +1 [email protected] Qualified Person Statement The scientific and technical information in this press release has been reviewed and approved by Mr. Keenan Jennings, a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators ("NI 43-101"). Mr. Jennings is the EVP, Chief Exploration Officer of OceanaGold. Quality Assurance and Quality Control ("QA/QC") From July 2017 to 2025, almost all Haile exploration core samples have been prepared at the ALS lab in Tucson, Arizona, and analyzed at the ALS lab in Reno, Nevada, each of which is independent from OceanaGold. Select resource conversion core samples were also prepared and analyzed at the SGS lab in Kershaw, South Carolina in 2025, which is also independent from OceanaGold, with confirmation pulp duplicates sent to the ALS lab in Reno, Nevada. Samples are pulverized from a 250g (ALS) or 450g (SGS) sample to 85% passing 75 mesh. Approximately 225g of pulp sample is used for fire assay. Assays are based on a 30g fire assay aliquot for gold with Atomic Absorption finish. If the gold value from Atomic Absorption is >10g/t, an additional 30g of pulp sample is fire assayed for gold using a gravimetric finish. Some holes are composited and analyzed for carbon, sulphur and multi-elements using LECO and ICP-OES methods. Both ALS and SGS labs used for OceanaGold samples are ISO 17025 certified. Blanks and standards are each inserted every 20th sample. Precision and accuracy of certified reference materials ("CRMs") compared to expected values have been consistently within 5% RSD and often within 3%. Barren marble and sand are inserted as blanks every 20th sample. CRMs from RockLabs and OREAS are inserted every 20th sample (5%). All blanks and CRMs are handled by the OceanaGold Geology Team and are stored in the locked OceanaGold office. All drill hole samples are handled and transported from the drill rigs to the secured Haile Exploration warehouse by OceanaGold personnel or contractors. Access to the property is controlled by locked doors and cameras monitored by OceanaGold security. The main gate requires an electronic employee badge to enter. Samples are packaged at the Haile Exploration warehouse by OceanaGold geologists and geotechnicians. Samples are trucked in sealed plastic barrels by certified couriers with submittal forms that are verified during sample pick-up and delivery to ALS. No sample shipments have been recorded as missing or tampered with. Technical Report For further information, please refer to the following NI 43-101 technical report available on the SEDAR+ website at www.sedarplus.ca under the Company's profile or on the Company's website at www.oceanagold.com: "NI 43-101 Technical Report Haile Gold Mine Lancaster County, South Carolina" dated March 27, 2026, with an effective date of December 31, 2025 prepared by D. Carr, Group Head of Metallurgy, G. Hollett, Group Head of Mining Engineering, B. Drury, Underground Engineering Superintendent, J. Moore, Group Head of Resource Development and D. Corley, Principal Resource Development Geologist (OceanaGold), L. Standridge and R. Cook (Call and Nicholas, Inc.), J Newton Janney-Moore and W.L. Kingston (NewFields Mining Design & Technical Services, LLC) and B. Miller (SRK Consulting (U.S.), Inc.). Each of Messrs. Carr, Hollett, Moore and Corley and Ms. Drury is an employee of OceanaGold. Cautionary Statement for Public Release This news release contains certain "forward-looking statements" and "forward-looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities laws which may include, but are not limited to, statements with respect to: the future exploration activities at Haile and the anticipated benefits therefor; anticipated exploration results and developments at Haile in future periods; the estimation, realization and classification of Mineral Reserves and Mineral Resources at Haile; the potential for Mineral Reserves growth at Horseshoe, Mineral Resources conversion at Ledbetter and Clydesdale as an emerging target area; anticipated advancement of exploration opportunities with further drilling as development of the Palomino decline progresses; anticipated expansion of the exploration opportunity at Ledbetter; estimates of exploration expenditures; timing of the development of new deposits; the timing, cost and outcome of exploration activities; timing and focus of the 2026 exploration and drilling programs at Haile; and geotechnical and operational conditions. All statements in this news release that address events or developments that the Company expects to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "may", "plans", "expects", "projects", "is expected", "scheduled", "potential", "estimates", "forecasts", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases, or may be identified by statements to the effect that certain actions, events or results "may", "could", "would", "should", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks include, among others: the risk of not achieving the Company's production estimates, forecasts or 2026 Guidance; inaccuracy of Mineral Reserves, Mineral Resources and operating and capital cost estimates; the actual results of current and future production, development and/or exploration activities; possible variations of ore grade, metallurgy or recovery rates; changes in mine plans, project parameters or assumptions as plans continue to be refined; delays in, or inability to complete, development or construction or expansion activities or to re-commence or sustain operations as planned; failures or underperformance of plant, equipment, infrastructure or processes; geotechnical risks or events, including open pit wall stability, crown pillar failure, land subsidence and tailings dam failures; scarcity in and disruption of global supply chain and/or increases in prices, including as a result of international conflicts, such as the recent U.S.-Iran conflict; challenges associated with effective water management; environmental, health and safety and climate-related risks; risks related to community acceptance, stakeholder engagement and social licence to operate; competition for mineral properties and other growth opportunities; legal and regulatory challenges to current and future permits, certifications, approvals or licences; adverse judicial, regulatory or governmental decisions; delays in, or inability to obtain, financing or governmental approvals on acceptable terms; changes in laws, regulations, taxation regimes, regulated accounting standards or their interpretation or application; the risks associated with operating in foreign jurisdictions, including political instability, changes in policy or law, civil unrest or conflict; fluctuations in the prices of gold, copper and silver; general business, economic and market conditions (including changes in global, national or regional financial, credit, currency or securities markets); changes or developments in global, national or regional political and social conditions; fluctuations in foreign exchange rates, including the value of the U.S. dollar relative to the Canadian dollar, the New Zealand dollar or the Philippine peso; trade policies and tensions, including tariffs; inflationary pressure; labour availability, retention and turnover; accidents, labour disputes and other operational risks of the mining industry; limitations of insurance coverage or uninsured risks; the conclusions of economic evaluations, studies and models; information technology, artificial intelligence and cybersecurity risks; and those other factors identified and described in more detail in the section entitled "Risk Factors" contained in the Company's most recent Annual Information Form and the Company's other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the "SEC"), which are available under the Company's profile on SEDAR+ at sedarplus.ca and sec.gov, respectively, and on the Company's website at oceanagold.com. The list is not exhaustive of the factors that may affect the Company's forward-looking statements. The Company's forward-looking statements are based on the applicable assumptions and factors Management considers reasonable as of the date hereof, based on the information available to Management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to the Company's ability to carry on current and future operations, including: exploration and development activities; the timing, extent, duration and economic viability of such operations; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the Company's ability to meet or achieve Guidance, estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold, copper and silver; foreign exchange rates; taxation levels; the timely receipt of necessary permits, certifications, approvals or licences; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry. The Company's forward-looking statements are based on the opinions and estimates of Management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. The Company does not assume any obligation to update forward-looking statements if circumstances or Management's beliefs, expectations or opinions should change other than as required by applicable laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities the Company will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements. Cautionary Statements for United States Readers The scientific and technical disclosure in this news release was prepared in accordance with Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"), which differs from the scientific and technical disclosure requirements of the SEC that are applicable to domestic United States reporting companies. Any Mineral Reserves and Mineral Resources reported by the Company in accordance with NI 43-101 may not qualify as such under SEC standards, including Subpart 1300 of Regulation S-K under the United States Exchange Act of 1934, as amended. Accordingly, Mineral Resources and Mineral Reserves information and other scientific and technical information contained or referenced in this news release may not be comparable to similar scientific and technical information disclosed by United States public companies subject to the reporting and technical disclosure requirements of the SEC. Historical results or feasibility models presented herein are not guarantees or expectations of future performance. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Due to the uncertainty of measured, indicated or inferred mineral resources, these mineral resources may never be upgraded to proven and probable mineral reserves. Investors are cautioned not to assume that any part of mineral deposits in these categories will ever be converted into reserves or recovered. In addition, United States investors are cautioned not to assume that any part or all of the Company's measured, indicated or inferred mineral resources constitute or will be converted into mineral reserves or are or will be economically or legally mineable without additional work. View original content to download multimedia:https://www.prnewswire.com/news-releases/oceanagold-announces-additional-high-grade-drill-results-at-haile-302769050.html