<SEC-DOCUMENT>0001157523-20-000971.txt : 20200714
<SEC-HEADER>0001157523-20-000971.hdr.sgml : 20200714
<ACCEPTANCE-DATETIME>20200714063031
ACCESSION NUMBER:		0001157523-20-000971
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200714
FILED AS OF DATE:		20200714
DATE AS OF CHANGE:		20200714

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			New Gold Inc. /FI
		CENTRAL INDEX KEY:			0000800166
		STANDARD INDUSTRIAL CLASSIFICATION:	METAL MINING [1000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31722
		FILM NUMBER:		201026278

	BUSINESS ADDRESS:	
		STREET 1:		181 BAY STREET, SUITE 3320
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 2T3
		BUSINESS PHONE:		(416) 324-6000

	MAIL ADDRESS:	
		STREET 1:		181 BAY STREET, SUITE 3320
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M5J 2T3

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DRC RESOURCES CORP                                      /FI
		DATE OF NAME CHANGE:	19860904
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a52249347.htm
<DESCRIPTION>NEW GOLD INC. 6-K
<TEXT>
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    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">UNITED STATES</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
    <div style="text-align: center; font-weight: bold;">Washington, D.C. 20549</div>
    <div style="text-indent: 36pt;">&#160;<br>
      &#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 16pt; font-weight: bold;">Form 6-K</div>
    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold;">REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16</div>
    <div style="text-align: center; font-weight: bold;">UNDER THE SECURITIES EXCHANGE ACT OF 1934</div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div style="text-align: justify;">For the month of July 2020.</div>
    <div>&#160;</div>
    <div>Commission File Number 001-31722</div>
    <div>&#160;</div>
    <div style="text-align: center;">&#160;<img src="logo.jpg"></div>
    <div>&#160;</div>
    <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 20pt; font-weight: bold;">New Gold Inc.</div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div style="text-align: center;">Suite 3320 &#8211; 181 Bay Street</div>
    <div style="text-align: center;">Toronto, Ontario M5J 2T3</div>
    <div style="text-align: center;">Canada</div>
    <div style="text-align: center;">(Address of principal executive office)</div>
    <div>&#160;</div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div>Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.</div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div>Form 20-F <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font>&#160;Form 40-F <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9746;</font></div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div><font style="font-weight: bold;">Note</font>: Regulation S-T Rule 101(b)(1) only permits the submission in paper of a Form 6-K if submitted solely to provide an attached annual report to security holders.</div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div>Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): <font style="font-family: 'Segoe UI Symbol', sans-serif;">&#9744;</font></div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div><font style="font-weight: bold;">Note: </font>Regulation S-T Rule 101(b)(7) only permits the submission in paper of a Form 6-K if submitted to furnish a report or other document that the registrant foreign private issuer must furnish and make
      public under the laws of the jurisdiction in which the registrant is incorporated, domiciled or legally organized (the registrant&#8217;s &#8220;home country&#8221;), or under the rules of the home country exchange on which the registrant&#8217;s securities are traded, as
      long as the report or other document is not a press release, is not required to be and has not been distributed to the registrant&#8217;s security holders, and, if discussing a material event, has already been the subject of a Form 6-K submission or other
      Commission filing on EDGAR.</div>
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    <div style="text-align: center; font-weight: bold;">DOCUMENTS FILED AS PART OF THIS FORM 6-K</div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div style="text-align: center; font-weight: bold;">&#160;</div>
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            <div style="text-align: center; font-weight: bold;">Exhibit</div>
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            <div style="text-align: center; font-weight: bold;">Description</div>
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          <td style="width: 10%; vertical-align: top;">
            <div><a href="a52249347ex99_1.htm">99.1</a></div>
          </td>
          <td style="width: 90%; vertical-align: top;">
            <div><a href="a52249347ex99_1.htm">New Gold Inc. News Release date July 14, 2020 &#8211; New Gold Reports Second Quarter Operational Results</a></div>
          </td>
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    <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
    <div style="text-indent: 36pt;">&#160;</div>
    <div style="text-indent: 18pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</div>
    <div style="text-indent: 36pt;">&#160;</div>
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            <div>&#160;</div>
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            <div>&#160;</div>
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          <td style="width: 45%; vertical-align: top;">
            <div style="font-weight: bold;">NEW GOLD INC.</div>
          </td>
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          <td style="width: 51%; vertical-align: top;">
            <div>&#160;</div>
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            <div>&#160;</div>
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            <div>&#160;</div>
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            <div>&#160;</div>
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            <div style="font-family: 'Times New Roman',Times,serif;">By:</div>
          </td>
          <td rowspan="1" style="width: 45%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-style: italic;"><br>
              /s/ Sean Keating</div>
          </td>
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          <td style="width: 51%; vertical-align: top;">
            <div>Date:&#160;July 14, 2020</div>
          </td>
          <td style="width: 4%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 45%; vertical-align: middle;">
            <div>Sean Keating</div>
            <div>Vice President, General Counsel and Corporate Secretary</div>
          </td>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a52249347ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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  <div style="text-align: right;"><font style="font-weight: bold;">Exhibit 99.1</font><br>
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    <div>
      <div style="text-align: center; color: rgb(77, 127, 113); font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">New Gold Reports Second Quarter Operational Results</div>
      <div>&#160;</div>
      <div style="text-align: center; color: rgb(77, 127, 113); font-family: 'Times New Roman',Times,serif; font-size: 12pt;">Provides Notice of Release of Second Quarter Financial Results</div>
      <div><br>
      </div>
      <div><font style="font-weight: bold;">July 14, 2020 &#8211; New Gold Inc. (&#8220;New Gold&#8221; or the &#8220;Company&#8221;) (TSX and NYSE American: NGD)</font> reports preliminary second quarter results from the Rainy River and New Afton mines. <font style="font-style: italic;">(All amounts are in US dollars unless otherwise indicated.) </font></div>
      <div>&#160;</div>
      <div style="font-style: italic;">During this unprecedented COVID-19 period, the health and safety of our workforce and Indigenous and other communities remains our number one concern. We will support all initiatives that align with that objective and
        will remain vigilant in providing a safe working environment for our workforce.</div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #4D7F71; font-weight: bold;">Consolidated Second Quarter and Recent Highlights</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd243aa9f9a2f487ebd9be6e05b73c959">

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                <div style="margin-left: 9pt;">&#8226;</div>
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                <div style="text-align: justify;">Total production for the second quarter was 98,079 gold equivalent (gold eq.) ounces (64,294 ounces of gold, 134,282 ounces of silver and 16.9 million pounds of copper).</div>
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                <div style="margin-left: 9pt;">&#8226;</div>
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              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">The Rainy River Mine produced 49,633 gold eq. ounces (48,800 ounces of gold and 70,394 ounces of silver) for the quarter. Following a 12-day voluntary shutdown related to COVID-19 in the first quarter,
                  operations resumed on April 3.</div>
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                <div style="margin-left: 9pt;">&#8226;</div>
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                <div style="text-align: justify;">The New Afton Mine produced 48,446 gold eq. ounces (15,494 ounces of gold and 16.9 million pounds of copper) for the quarter.</div>
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                <div style="margin-left: 9pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>During the quarter, the Company announced that it entered into a definitive agreement with Artemis Gold Inc. to divest its Blackwater Project for C$190 million in cash, an 8% gold stream and a C$20 million equity stake in Artemis <font style="font-style: italic;">(refer to the Company's June 9, 2020 news release for further information).</font></div>
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                <div style="margin-left: 9pt;">&#8226;</div>
              </td>
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                <div style="text-align: justify;">During the quarter, the Company completed a $400 million senior notes offering yielding 7.50% due in 2027 that was used, along with cash on hand, to fund the full redemption of its outstanding 6.25% senior
                  notes due in 2022 completed on July 10, 2020 <font style="font-style: italic;">(refer to the Company's June 24, 2020 and July 10, 2020 news releases for further information).</font></div>
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                <div style="margin-left: 9pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">On April 15, 2020 annual guidance was withdrawn until the Company could better understand the impact of COVID-19. Updated annual guidance is expected to be released along with the Company's second quarter
                  financial results on July 30, 2020.</div>
              </td>
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      </div>
      <div>&#160;</div>
      <div style="font-weight: bold;">Consolidated Second Quarter Operational Results</div>
      <table cellspacing="0" cellpadding="0" border="0" align="left" style="border-collapse: collapse; width: 80%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z04c68e949946478d821d8f5412df0bf2">

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            <td style="width: 50%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">&#160;</td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q2 2020</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">H1 2020</div>
            </td>
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              <div style="color: #404040;">Gold eq. production (ounces)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">98,079</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">201,514</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold production (ounces)</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">64,294</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">131,084</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Copper production (Mlbs)</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">16.9</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">35.4</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Average realized gold price, per ounce<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">1,516</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">1,485</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Average realized copper price, per pound<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">2.55</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">2.56</div>
            </td>
          </tr>
          <tr>
            <td colspan="3" style="vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">1. Total gold equivalent ounces include silver and copper produced (excluding production from the Cerro San Pedro Mine) converted to a gold equivalent based on a ratio of $1,500 per gold ounce, $17.75 per silver
                ounce and $2.85 per copper pound. Throughout the year the Company will report gold equivalent ounces using a constant ratio of those prices. All copper is produced by the New Afton Mine.<br>
                2. Refer to the &#8220;Non-GAAP Financial Performance Measures" section of this press release.</div>
            </td>
          </tr>

      </table>
      <div style="clear: both;">&#160;</div>
      <div>&#160;</div>
      <div style="text-align: justify;">&#8220;Over the past number of quarters, the management team has advanced a disciplined approach aimed at repositioning our operations for profitability and free cash flow generation. As our operational performance
        improved, we have been able to execute on strategic opportunities to restructure our balance sheet and improve our liquidity position as we enter the next phase of our growth strategy.<font style="color: #222222;">&#8221; said Renaud Adams, CEO. &#8220;A</font>s
        our operations return to pre-COVID levels and we complete all non-recurring capital projects at Rainy River, we can now take a longer-term perspective. New Gold's future will be supported by profitable operations, a stronger balance sheet, and as
        our current hedges expire at year end, we will be fully exposed to the strengthened gold price. We are excited to enter the next stage as we create a Canadian-focused, diversified company that prioritizes profitability and free cash flow
        generation. We also want to thank the entire New Gold team and our partners for their dedication and hard work during this challenging and unprecedented COVID-19 period as we continue to ensure the safety and well-being of our employees and all our
        stakeholders.&#8221;</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">1</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div><br>
      </div>
      <div style="color: #404040; font-weight: bold;">Rainy River Mine Highlights</div>
      <table cellspacing="0" cellpadding="0" border="0" align="left" style="border-collapse: collapse; width: 80%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z2b9fd8f012af4e55ae5c12ae44560865">

          <tr>
            <td style="width: 50%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #FFFFFF; font-weight: bold;">Rainy River Mine</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q2 2020</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">H1 2020</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold eq. production (ounces)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">49,633</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">100,739</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold eq. sold (ounces)</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">47,873</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">101,411</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold production (ounces)</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">48,800</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">99,181</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold sold (ounces)</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">47,064</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">99,846</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Average realized gold price, per ounce<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">1,514</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">1,483</div>
            </td>
          </tr>
          <tr>
            <td colspan="3" style="vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">1. Gold equivalent ounces for Rainy River in Q2 2020 includes 70,394 ounces of&#160; silver converted to a gold equivalent based on a ratio of $1,500 per gold ounce and $17.75 per silver ounce.</div>
              <div style="color: #404040;">2. Refer to the &#8220;Non-GAAP Financial Performance Measures" section of this press release.</div>
            </td>
          </tr>

      </table>
      <div style="clear: both;"><br>
      </div>
      <div style="color: #404040; font-weight: bold;">Rainy River Operating KPI&#8217;s</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="za7cd64d8168e429caccc62b167381c69">

          <tr>
            <td style="width: 23%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #FFFFFF; font-weight: bold;">Rainy River Mine</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">FY 2018</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q1 19</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q2 19</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q3 19</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q4 19</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q1 2020</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q2 2020</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Tonnes mined per day (ore and waste)</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">108,392</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">111,679</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">114,544</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">111,078</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">136,124</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">127,684</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">126,512</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Ore tonnes mined per day</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">33,687</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">15,739</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">21,368</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">18,220</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">19,485</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">26,012</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">23,101</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Operating waste tonnes per day</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">47,128</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">62,955</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">82,488</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">75,206</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">74,020</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">75,596</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">72,575</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Capitalized waste tonnes per day</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">25,576</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">32,986</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">10,688</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">17,652</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">42,619</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">26,077</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">30,836</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Total waste tonnes per day</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">74,705</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">95,941</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">93,176</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">92,858</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">116,639</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">101,673</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">103,411</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Strip ratio (waste: ore)</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">2.22</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">6.10</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">4.36</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">5.10</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">5.99</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">3.91</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">4.48</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Tonnes milled per calendar day</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">17,934</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">19,725</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">21,117</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">24,500</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">22,521</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">18,441</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">23,880</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold grade milled (g/t)</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">1.25</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">1.19</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">1.15</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">1.14</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.85</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">1.03</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.78</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold recovery (%)</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">86</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">90</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">93</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">91</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">91</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">90</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">89</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Mill availability (%)</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">77</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">89</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">88</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">88</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">89</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">91</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">90</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold production (oz)</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">227,284</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">61,557</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">66,013</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">75,080</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">51,122</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">50,381</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">48,800</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold eq. production<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> (oz)</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">230,349</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">62,278</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">66,765</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">76,092</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">51,915</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #FFFFFF; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">51,106</div>
            </td>
            <td style="width: 10.6%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">49,633</div>
            </td>
          </tr>
          <tr>
            <td colspan="8" style="vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">1. Gold equivalent ounces for Rainy River in Q2 2020 includes 70,394 ounces of&#160; silver converted to a gold equivalent based on a ratio of $1,500 per gold ounce and $17.75 per silver ounce.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div><br>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z4bf53f0c5c304ae3adec78b42c29e39f">

            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">The Rainy River mine resumed operations on April 3, following a temporary two-week shutdown that allowed the workforce to follow a 14-day period of self-isolation
                  relating to travel outside of Canada related to COVID-19. Following the recent approval by Health Canada, three rapid testing devices were procured and will be rolled out for use in July and August, with the third device exclusively for
                  community use. These devices will initially test for the virus and provide results within three hours of testing, adding another level of protection against the transmission of COVID-19 as we continue to prioritize the safety and
                  well-being of our employees and our local and Indigenous communities.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2b0c850ec0fb4184823ab51f2cd562bb">

            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Early in the second quarter, the mine utilized its local workforce and gradually began to safely reintroduce a portion of the non-local workforce to advance the
                  ramp-up of operations. During the quarter, the open pit averaged approximately 125,000 tonnes per day. Mining productivity increased during the quarter from approximately 100,000 tonnes per day in early April to approximately 140,000
                  tonnes per day in June, achieving pre-suspension productivity levels. Most of the non-local workforce has now been reintegrated and it is expected that the mine will complete the ramp-up to full capacity early in the third quarter.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z460d360f27cd43dea4a91d78d97f4e59">

            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">For the second quarter, gold eq. production was 49,633 ounces (48,800 ounces of gold and&#160;70,394 ounces of silver), which was lower than plan. Production was
                  impacted by reduced mine productivity as described above, resulting in the processing of a higher than planned proportion of the medium grade ore from stockpile and pit rehandling. The averaged grade processed for the quarter was 0.78
                  grams per tonne at gold recovery of 89%.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zec56601396624bc1afa3ac40a0a69d44">

            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">During the quarter, approximately 2.1 million ore tonnes and 9.4 million waste tonnes (including 2.8 million capitalized waste tonnes) were mined from the open
                  pit at an average strip ratio of 4.48:1.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za0168b72bb4d440e856c1acd5e4320e9">

            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Since the April 3 restart, the mill has ramped up to full capacity, achieving an average run rate of approximately 24,700 tonnes per day, including downtime
                  during the quarter, primarily to complete a liner change as well as other maintenance related to the SAG mill. Mill availability for the quarter averaged 90%, in line with plan.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd8aac12739b543bc87ab419f70457544">

            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="font-family: 'Times New Roman',Times,serif;">During the quarter, key capital projects were advanced including a planned tailings dam raise, wick drain installation for stabilization of the east waste dump, final stage
                  construction of the maintenance and warehouse facilities, as well as the commissioning of a bio-chemical reactor (BCR2) to allow clean water discharge. It is expected that all key construction projects will be substantially completed by
                  the end of the third quarter with all planned capital projects expected to be completed by year end. A small portion of the Tailings Management Area (TMA) construction that was originally scheduled for completion in 2021 is now planned
                  for completion in 2020, thereby reducing planned capital requirements for 2021.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">2</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #404040; font-weight: bold;">New Afton Mine Operational Highlights</div>
      <table cellspacing="0" cellpadding="0" border="0" align="left" style="border-collapse: collapse; width: 80%; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;" id="z40beb4a8af9a46df84640d1faa5161e4">

          <tr>
            <td style="width: 50%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #FFFFFF; font-weight: bold;">New Afton Mine</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q2 2020</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">H1 2020</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold eq. production (ounces)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> 1</sup></div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">48,446</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">100,775</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold eq. sold (ounces)</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">43,517</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">93,915</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold production (ounces)</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">15,494</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">31,903</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold sold (ounces)</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">13,789</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">29,780</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Copper production (Mlbs)</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">16.9</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">35.4</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Copper sold (Mlbs)</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">15.3</div>
            </td>
            <td style="width: 25%; vertical-align: middle; background-color: rgb(255, 255, 255); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">33.0</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Average realized gold price, per ounce<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
            </td>
            <td style="width: 25%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">1,520</div>
            </td>
            <td style="width: 25%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">1,490</div>
            </td>
          </tr>
          <tr>
            <td style="width: 50%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Average realized copper price, per pound<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></div>
            </td>
            <td style="width: 25%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">2.55</div>
            </td>
            <td style="width: 25%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="text-align: center; color: #404040;">2.56</div>
            </td>
          </tr>
          <tr>
            <td colspan="3" style="vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">1. Gold equivalent ounces for New Afton in Q2 2020 includes 16.9 million pounds of copper and 63,889 ounces of silver converted to a gold equivalent based on a ratio of $1,500 per gold ounce, $2.85 per copper
                pound and&#160; $17.75 per silver ounce.</div>
              <div style="color: #404040;">2. Refer to the &#8220;Non-GAAP Financial Performance Measures" section of this press release.</div>
            </td>
          </tr>

      </table>
      <div style="clear: both;">&#160;</div>
      <div style="color: #404040; font-weight: bold;">New Afton Operating KPI&#8217;s</div>
      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zce052c4e3db24b13bf26902c668d8db3">

          <tr>
            <td style="width: 23%; vertical-align: middle; background-color: rgb(113, 103, 93); border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #FFFFFF; font-weight: bold;">New Afton Mine</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">FY 2018</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q1 19</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q2 19</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q3 19</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q4 19</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q1 2020</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #71675D; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #FFFFFF; font-weight: bold;">Q2 2020</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Tonnes mined per day (ore and waste)</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">16,156</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">15,824</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">16,357</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">15,773</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">14,539</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">16,727</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">15,358</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Tonnes milled per calendar day</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">14,668</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">14,759</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">14,992</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">15,572</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">15,861</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">15,377</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">14,240</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold grade milled (g/t)</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.53</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.50</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.53</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.43</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.42</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.45</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.46</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold recovery (%)</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">85</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">83</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">83</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">80</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">79</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">81</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">81</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold production (oz)</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">77,329</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">17,841</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">19,203</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">16,007</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">15,734</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">16,409</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">15,494</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Copper grade milled (%)</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.87</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.80</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.86</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.76</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.70</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.73</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">0.72</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Copper recovery (%)</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">83</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">83</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">83</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">84</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">81</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">82</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">83</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Copper production (Mlbs)</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">85.1</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">19.5</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">21.6</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">20.1</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">18.3</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">18.5</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">16.9</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Mill availability (%)</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">98</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">98</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">97</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">96</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">98</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">98</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">92</div>
            </td>
          </tr>
          <tr>
            <td style="width: 23%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">Gold eq. production<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> (oz)</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">279,755</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">60,986</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">65,791</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">52,807</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">49,507</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">52,329</div>
            </td>
            <td style="width: 10.62%; vertical-align: middle; background-color: #EEECE1; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
              <div style="text-align: center; color: #404040;">48,446</div>
            </td>
          </tr>
          <tr>
            <td colspan="8" style="vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="color: #404040;">1. Gold equivalent ounces for New Afton in Q2 2020 includes 16.9 million pounds of copper and 63,889 ounces of silver converted to a gold equivalent based on a ratio of $1,500 per gold ounce, $2.85 per copper
                pound and&#160; $17.75 per silver ounce.</div>
            </td>
          </tr>

      </table>
      <div>&#160;</div>
      <div>&#160;</div>
      <div>
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            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">The New Afton Mine reached a significant safety milestone, achieving 3 million person-hours lost-time injury-free.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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                <div>&#8226;</div>
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                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">The mine produced 48,446 gold eq. ounces for the quarter (15,494 ounces of gold, and 16.9 million pounds of copper), below plan primarily due to lower copper and
                  gold grades. During the quarter, scheduled mine and mill shutdowns were completed for maintenance, including the replacement of 2 kilometers of underground conveyor belts and replacement of SAG mill liners, with the original completion
                  date extended due to COVID-19 safety protocols. There are no further planned major shutdowns expected over the balance of the year.</div>
              </td>
            </tr>

        </table>
      </div>
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            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">During the quarter, total development towards the B3 and C-zone advanced by approximately 1,253 metres, achieving 95% of planned levels year to date.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">The underground mine averaged 15,358 tonnes per day for the quarter, the lower production was primarily due to a planned maintenance shutdown.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">The mill averaged 14,240 tonnes per day for the quarter, including the maintenance shutdowns as described above, at an average gold and copper grade of 0.46 grams
                  per tonne gold and 0.72% copper, respectively, with gold and copper recoveries of 81% and 83%, respectively, in-line with plan.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">During the quarter, the mill continued to process lower than planned copper and gold grades as the mine continued to experience lower grades mined during the
                  quarter. The 2020 and 2021 mine plans incorporate multiple sources of mined ore, including depletion of the east and west caves and rehabilitation and pillar recoveries of medium-high grade zones. In the first and second quarters of 2020,
                  higher than expected dilution was experienced in portions of the east and west caves. Additionally, the rehabilitation and pillar recovery productivities were lower than planned contributing to the lower grades mined in the first half of
                  the year. Management continues to work on optimization scenarios, but based on current information, lower grades are expected to continue over the balance of the year and potentially into 2021 as we complete mining in these areas. It is
                  not expected that the lower grades currently being experienced in the east and west cave zones will be encountered in the SLC, B3 and C-zones. Ore extraction from the B3 cave is expected to begin in second half of 2021.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">During the quarter, key capital projects were advanced including the development of the C-zone as well as detailed engineering and earthworks related to the
                  thickened and amended tailings (TAT) plant.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
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            <tr>
              <td style="width: 14.75pt; vertical-align: top; align: right;">
                <div>&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify; font-family: 'Times New Roman',Times,serif;">Exploration activities in the quarter included underground delineation drilling on the East Extension zone and refinement of exploration targets for the planned
                  drilling campaign within the Cherry Creek Trend area.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">3</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div> <br>
      </div>
      <div style="text-align: justify; color: #4D7F71; font-weight: bold;">Second Quarter Conference Call and Webcast</div>
      <div style="text-align: justify; color: #404040;">The Company will host an earnings call and webcast on Thursday, July 30, 2020 at 08:30 AM Eastern Time to discuss the financial results. Details are provided below:</div>
      <div>&#160;</div>
      <div style="color: #0000FF;"><font style="color: #404040;">Participants may listen to the webcast by registering on our website at www.newgold.com or via the following link </font><u>https://onlinexperiences.com/Launch/QReg/ShowUUID=760E8780-16EE-4E71-A923-6C796959BE5A</u></div>
      <div style="text-align: justify;"><u><font style="font-family: 'Times New Roman',Times,serif; color: rgb(0, 112, 192);"> </font></u></div>
      <div>&#160;</div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z2653993062144c4a8b09ceb9bfa05df5">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">Participants may also listen to the conference call by calling toll free 1-833-502-0493, or 1-778-560-2562 outside of the U.S. and Canada.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>
        <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8ae394f591e54b2d88b193dd32b9732c">

            <tr>
              <td style="width: 36pt; vertical-align: top; align: right;">
                <div style="margin-left: 18pt;">&#8226;</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div style="text-align: justify;">A recorded playback of the conference call will be available until by calling toll free 1-800-585-8367, or 1-416-621-4642 outside of the U.S. and Canada, passcode 3546224. An archived webcast will also be
                  available until August 30, 2020 at www.newgold.com.</div>
              </td>
            </tr>

        </table>
      </div>
      <div>&#160;</div>
      <div style="text-align: justify; color: #4D7F71; font-weight: bold;">About New Gold Inc.</div>
      <div style="text-align: justify;">New Gold is a Canadian-focused intermediate gold mining company with a portfolio of two core producing assets in Canada, the Rainy River and New Afton Mines as well as the 100% owned Blackwater development project.
        The Company also operates the Cerro San Pedro Mine in Mexico (in reclamation).&#160; New Gold&#8217;s vision is to build a leading diversified intermediate gold company based in Canada that is committed to environment and social responsibility. For further
        information on the Company, visit <u>www.newgold.com</u>.</div>
      <div>&#160;</div>
      <div>For further information, please contact:</div>
      <div>&#160;</div>
      <div style="font-weight: bold;">Anne Day</div>
      <div>Vice President, Investor Relations</div>
      <div>Direct: +1 (416) 324-6003</div>
      <div>Email: anne.day@newgold.com</div>
      <div><br>
      </div>
      <div style="text-align: justify; font-weight: bold;">Cautionary Note Regarding Forward-Looking Statements</div>
      <div style="text-align: justify;">Certain information contained in this news release, including any information relating to New Gold&#8217;s future financial or operating performance are &#8220;forward looking&#8221;. All statements in this news release, other than
        statements of historical fact, which address events, results, outcomes or developments that New Gold expects to occur are &#8220;forward-looking statements&#8221;. Forward-looking statements are statements that are not historical facts and are generally, but
        not always, identified by the use of forward-looking terminology such as &#8220;plans&#8221;, &#8220;expects&#8221;, &#8220;is expected&#8221;, &#8220;budget&#8221;, &#8220;scheduled&#8221;, &#8220;targeted&#8221;, &#8220;estimates&#8221;, &#8220;forecasts&#8221;, &#8220;intends&#8221;, &#8220;anticipates&#8221;, &#8220;projects&#8221;, &#8220;potential&#8221;, &#8220;believes&#8221; or variations of
        such words and phrases or statements that certain actions, events or results &#8220;may&#8221;, &#8220;could&#8221;, &#8220;would&#8221;, &#8220;should&#8221;, &#8220;might&#8221; or &#8220;will be taken&#8221;, &#8220;occur&#8221; or &#8220;be achieved&#8221; or the negative connotation of such terms. Forward-looking statements in this news
        release include, among others, statements with respect to: the Company&#8217;s anticipated timing for release of updated annual guidance; the Company&#8217;s anticipated course of action at the Rainy River mine and the timing of ramp-up to full capacity; the
        Company&#8217;s expectation that there will be no further shutdowns of the Rainy River Mine, the New Afton Mine or their respective processing equipment; the timing of completion of construction projects at the Rainy River Mine; the expected grades of
        ore at the New Afton Mine; and the Company&#8217;s plans for exploration activities at the New Afton Mine (including Cherry Creek).</div>
      <div>&#160;</div>
      <div style="text-align: justify;">All forward-looking statements in this news release are based on the opinions and estimates of management as of the date such statements are made and are subject to important risk factors and uncertainties, many of
        which are beyond New Gold&#8217;s ability to control or predict. Certain material assumptions regarding such forward-looking statements are discussed in this news release, New Gold&#8217;s latest annual management&#8217;s discussion and analysis (&#8220;MD&amp;A&#8221;), its
        most recent annual information form and technical reports on the Rainy River Mine and New Afton Mine filed at www.sedar.com and on EDGAR at www.sec.gov. In addition to, and subject to, such assumptions discussed in more detail elsewhere, the
        forward-looking statements in this news release are also subject to the following assumptions: (1) there being no significant disruptions affecting New Gold&#8217;s operations other than as set out herein; (2) political and legal developments in
        jurisdictions where New Gold operates, or may in the future operate, being consistent with New Gold&#8217;s current expectations; (3) the accuracy of New Gold&#8217;s current mineral reserve and mineral resource estimates; (4) the exchange rate between the
        Canadian dollar and U.S. dollar, and to a lesser extent, the Mexican Peso, being approximately consistent with current levels; (5) prices for diesel, natural gas, fuel oil, electricity and other key supplies being approximately consistent with
        current levels; (6) equipment, labour and materials costs increasing on a basis consistent with New Gold&#8217;s current expectations; (7) arrangements with First Nations and other Aboriginal groups in respect of the New Afton Mine, Rainy River Mine and
        Blackwater project being consistent with New Gold&#8217;s current expectations, particularly in the context of the outbreak of COVID-19; (8) all required permits, licenses and authorizations being obtained from the relevant governments and other relevant
        stakeholders within the expected timelines and the absence of material negative comments during the applicable regulatory processes; (9) there being no new cases of COVID-19 in the Company&#8217;s workforce at either the Rainy River or New Afton Mine and
        the assumption that no additional members of the workforce are expected to be required to self-isolate due to cross-border travel to the United States or any other country; (10) the responses of the relevant governments to the COVID-19 outbreak
        being sufficient to contain the impact of the COVID-19 outbreak; (11) there being no material disruption to the Company&#8217;s supply chains and workforce that would interfere with the Company&#8217;s anticipated course of action at the Rainy River mine and
        the systematic ramp-up of operations; (12) the Company being able to release updated annual guidance on the timing described herein; and (13) the long-term economic effects of the COVID-19 outbreak not having a material adverse impact on the
        Company&#8217;s operations or liquidity position.</div>
      <div>&#160;</div>
      <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
        <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">4</font></div>
        <div id="DSPFPageBreak" style="page-break-after: always;">
          <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
      </div>
      <div> <br>
      </div>
      <div style="text-align: justify;">Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause actual results, level of activity,
        performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Such factors include, without limitation: significant capital requirements and the availability and management of capital
        resources; additional funding requirements; price volatility in the spot and forward markets for metals and other commodities; fluctuations in the international currency markets and in the rates of exchange of the currencies of Canada, the United
        States and, to a lesser extent, Mexico; discrepancies between actual and estimated production, between actual and estimated mineral reserves and mineral resources and between actual and estimated metallurgical recoveries; risks related to early
        production at the Rainy River Mine, including failure of equipment, machinery, the process circuit or other processes to perform as designed or intended; fluctuation in treatment and refining charges; changes in national and local government
        legislation in Canada, the United States and, to a lesser extent, Mexico or any other country in which New Gold currently or may in the future carry on business; taxation; controls, regulations and political or economic developments in the
        countries in which New Gold does or may carry on business; the speculative nature of mineral exploration and development, including the risks of obtaining and maintaining the validity and enforceability of the necessary licenses and permits and
        complying with the permitting requirements of each jurisdiction in which New Gold operates, the lack of certainty with respect to foreign legal systems, which may not be immune from the influence of political pressure, corruption or other factors
        that are inconsistent with the rule of law; the uncertainties inherent to current and future legal challenges New Gold is or may become a party to; diminishing quantities or grades of mineral reserves and mineral resources; competition; loss of key
        employees; rising costs of labour, supplies, fuel and equipment; actual results of current exploration or reclamation activities; uncertainties inherent to mining economic studies; changes in project parameters as plans continue to be refined;
        accidents; labour disputes; defective title to mineral claims or property or contests over claims to mineral properties; unexpected delays and costs inherent to consulting and accommodating rights of Indigenous groups; risks, uncertainties and
        unanticipated delays associated with obtaining and maintaining necessary licenses, permits and authorizations and complying with permitting requirements; there being cases of COVID-19 in the Company&#8217;s workforce at either the Rainy River or New
        Afton Mine, or both; the Company&#8217;s workforce at either the Rainy River Mine or the New Afton Mine, or both, being required to self-isolate due to cross-border travel to the United States or any other country; the responses of the relevant
        governments to the COVID-19 outbreak not being sufficient to contain the impact of the COVID-19 outbreak; disruptions to the Company&#8217;s supply chain and workforce due to the COVID-19 outbreak; an economic recession or downturn as a result of the
        COVID-19 outbreak that materially adversely affects the Company&#8217;s operations or liquidity position; the Company not being able to release updated annual guidance on the timing described herein or at all; there being further shutdowns at the Rainy
        River or New Afton Mines; the Company not being able to complete its construction projects at the Rainy River Mine on the timing described herein or at all; difficulties in ramp-up of operations at Rainy River due to various factors, including lack
        of availability of manpower or equipment. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental events and hazards, industrial accidents, unusual or unexpected
        formations, pressures, cave-ins, flooding and gold bullion losses (and the risk of inadequate insurance or inability to obtain insurance to cover these risks) as well as &#8220;Risk Factors&#8221; included in New Gold&#8217;s Annual Information Form, MD&amp;A and
        other disclosure documents filed on and available at www.sedar.com and on EDGAR at www.sec.gov. Forward looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated
        in such statements. All of the forward-looking statements contained in this news release are qualified by these cautionary statements. New Gold expressly disclaims any intention or obligation to update or revise any forward-looking statements
        whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.</div>
      <div>&#160;</div>
      <div style="text-align: justify; font-weight: bold;">Non-GAAP Financial Performance Measures</div>
      <div>&#160;</div>
      <div style="text-align: justify; font-weight: bold;">Average Realized Price</div>
      <div>&#160;</div>
      <div style="text-align: justify;">"Average realized price per ounce or pound sold" is a non-GAAP financial measure with no standard meaning under IFRS. Management uses this measure to better understand the price realized in each reporting period for
        gold, silver, and copper sales. Average realized price is intended to provide additional information only and does not have any standardized definition under IFRS; it should not be considered in isolation or as a substitute for measures of
        performance prepared in accordance with IFRS. Other companies may calculate this measure differently and this measure is unlikely to be comparable to similar measures presented by other companies.</div>
      <div>&#160;</div>
      <div style="font-weight: bold;">Technical Information</div>
      <div>&#160;</div>
      <div>The scientific and technical information contained herein has been reviewed and approved by Eric Vinet, Vice President, Technical Services of New Gold. Mr. Vinet is a Professional Engineer and member of the Ordre des ing&#233;nieurs du Qu&#233;bec. He is
        a "Qualified Person" for the purposes of NI 43-101.</div>
      <div> <br>
      </div>
    </div>
  </div>
  <div id="DSPFPageNumberArea" style="text-align: right;"><font id="DSPFPageNumber" style="font-weight: normal; font-style: normal;">5</font></div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
