<SEC-DOCUMENT>0001157523-20-001302.txt : 20201013
<SEC-HEADER>0001157523-20-001302.hdr.sgml : 20201013
<ACCEPTANCE-DATETIME>20201013063134
ACCESSION NUMBER:		0001157523-20-001302
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20201013
FILED AS OF DATE:		20201013
DATE AS OF CHANGE:		20201013

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:		201234487

	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>a52304958.htm
<DESCRIPTION>NEW GOLD INC. 6-K
<TEXT>
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    <div style="font-family: 'Times New Roman', serif; font-size: 1pt;">&#160;</div>
    <div style="text-align: center; font-weight: bold; font-size: 16pt;">UNITED STATES</div>
    <font style="font-size: 16pt;"> </font>
    <div style="text-align: center; font-weight: bold; font-size: 16pt;">SECURITIES AND EXCHANGE COMMISSION</div>
    <font style="font-size: 16pt;"> </font>
    <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-weight: bold; font-size: 16pt;">Form 6-K</div>
    <font style="font-size: 16pt;"> </font>
    <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 October 2020.</div>
    <div>&#160;</div>
    <div>Commission File Number 001-31722</div>
    <div> </div>
    <div> <br>
    </div>
    <div>&#160;</div>
    <div style="text-align: center;"><img src="logo.jpg"><br>
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    <div>&#160;</div>
    <div style="text-align: center; font-weight: bold; font-size: 16pt;">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 &#9746;</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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          <td style="width: 91%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Description</div>
          </td>
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        <tr>
          <td style="width: 9%; vertical-align: top;">
            <div><a href="a52304958ex99_1.htm">99.1</a></div>
          </td>
          <td style="width: 91%; vertical-align: top;">
            <div><a href="a52304958ex99_1.htm">New Gold Inc. News Release date October 13, 2020 &#8211; New Gold Reports Third 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>
          </td>
          <td style="width: 4%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 35%; vertical-align: top;">
            <div style="font-weight: bold;">NEW GOLD INC.</div>
          </td>
          <td style="width: 13%; vertical-align: top;" colspan="1">&#160;</td>
        </tr>
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          <td style="width: 48.28%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 4%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 35%; vertical-align: top;">
            <div>&#160;</div>
          </td>
          <td style="width: 13%; vertical-align: top;" colspan="1">&#160;</td>
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            <div>&#160;</div>
          </td>
          <td style="width: 4%; vertical-align: top; padding-bottom: 2px;">
            <div style="text-align: center;">By:</div>
          </td>
          <td style="width: 35%; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-style: italic;"><br>
              /s/ Sean Keating</div>
          </td>
          <td style="width: 13%; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 48.28%; vertical-align: top;" rowspan="1">Date:&#160;October 13, 2020</td>
          <td style="width: 4%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 35%; vertical-align: middle;" rowspan="1">Sean Keating</td>
          <td style="width: 13%; vertical-align: middle;" rowspan="1" colspan="1">&#160;</td>
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          <td style="width: 48.28%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 4%; vertical-align: top;" rowspan="1">&#160;</td>
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            <div>Vice President, General Counsel and</div>
          </td>
          <td style="width: 13%; vertical-align: middle;" rowspan="1" colspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 48.28%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 4%; vertical-align: top;" rowspan="1">&#160;</td>
          <td style="width: 35%; vertical-align: middle;" rowspan="1">Corporate Secretary</td>
          <td style="width: 13%; vertical-align: middle;" rowspan="1" colspan="1">&#160;</td>
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    <div>&#160;</div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a52304958ex99_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>
  </div>
  <div style="text-align: right;"><font style="font-weight: bold;"> <br>
    </font></div>
  <div style="text-align: right;"><font style="font-weight: bold;"> <br>
    </font></div>
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    </font></div>
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          <div><img src="logo.jpg">&#160;</div>
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          <div style="text-align: right;">&#160;<img src="header.jpg"></div>
        </td>
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  <font style="font-weight: bold;"> </font>
  <div style="text-align: center;"><br>
  </div>
  <div>&#160;</div>
  <div> <br>
  </div>
  <div> <br>
  </div>
  <div style="text-align: center; font-weight: bold; font-family: Arial; font-size: 16pt;">&#160;<font style="color: rgb(90, 112, 46);">New Gold Reports Third Quarter Operational Results</font></div>
  <font style="color: rgb(90, 112, 46);"> <font style="font-family: Arial; font-size: 16pt;"> </font> </font>
  <div>&#160;</div>
  <div style="text-align: center; font-size: 14pt; color: rgb(113, 140, 57); font-family: Arial;">Rainy River Achieves Record Mine and Mill Productivity</div>
  <font style="font-family: Arial;"> <font style="font-size: 14pt; color: rgb(113, 140, 57);"> </font> </font>
  <div style="text-align: center; font-size: 14pt; font-family: Arial; color: rgb(113, 140, 57);">Reaffirms Annual Production Guidance</div>
  <font style="font-size: 14pt; font-family: Arial; color: rgb(113, 140, 57);"> </font>
  <div><br>
  </div>
  <div style="text-align: justify;"><font style="font-weight: bold; font-size: 9pt; font-family: Arial;">October 13, 2020 &#8211; New Gold Inc. (&#8220;New Gold&#8221; or the &#8220;Company&#8221;) (TSX and NYSE American: NGD)</font><font style="font-size: 9pt; font-family: Arial;">
      reports third quarter operational results for the Company as of September 30, 2020 and reaffirms annual production guidance. <font style="font-style: italic;">(All amounts are in US dollars unless otherwise indicated) </font></font></div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <div style="font-size: 9pt; font-family: Arial;">&#160;</div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <div style="text-align: justify; font-size: 9pt; font-family: Arial;">An earnings conference call and webcast will be held on November 5, 2020 beginning at 8:30 am Eastern Time to discuss the third quarter financial results. <font style="font-style: italic;">(Details provided at the end of this news release)</font></div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <div style="font-size: 9pt; font-family: Arial;">&#160;</div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <div style="text-align: justify; font-style: italic; font-size: 9pt; font-family: Arial;">During this quarter, the Rainy River Mine delivered another strong quarter of operational and technical performance. Mine operations ramped up towards the 2021
    target capacity of approximately 150,000 tonnes per day and the mill delivered a record of 27,000 tonnes per day, reaching the maximum monthly average throughput allowable under the existing mill permit. With both the mine and mill operating at
    capacity, the Company's efforts will now shift to focus on identifying additional opportunities to further optimize mine and mill productivities and unit cost performance.</div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <div style="font-size: 9pt; font-family: Arial;">&#160;</div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <div style="text-align: justify; font-weight: bold; font-size: 9pt; font-family: Arial;">Third Quarter and Recent Highlights</div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <div style="font-size: 9pt; font-family: Arial;">&#160;</div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <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="zd67ce50dd1d34ac3a2c6d3c88cc03193">

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            <div style="text-align: justify; font-size: 9pt; font-family: Arial;">Total production for the third quarter was 115,536 gold equivalent (gold eq.) ounces (78,959 ounces of gold, 171,825 ounces of silver and 18.2 million pounds of copper), on
              track to achieve revised annual production guidance.</div>
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;"> <br>
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  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <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="z19f4672fe06f4c00aa4fdcd5cdb571e8">

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            <div style="margin-left: 9pt; font-size: 9pt; font-family: Arial;">&#8226;</div>
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            <div style="text-align: justify; font-size: 9pt; font-family: Arial;">The Rainy River Mine produced 64,221 gold eq. ounces (63,004 ounces of gold and 102,814 ounces of silver) for the quarter, on track to achieve the mid-range of revised annual
              production guidance.</div>
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;"> <br>
            </div>
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  </div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <div>
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            <div style="margin-left: 9pt; font-size: 9pt; font-family: Arial;">&#8226;</div>
          </td>
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            <div style="text-align: justify; font-size: 9pt; font-family: Arial;">The New Afton Mine produced 51,315 gold eq. ounces (15,955 ounces of gold and 18.2 million pounds of copper) for the quarter, on track to achieve the mid-range of revised
              annual production guidance.</div>
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;"> <br>
            </div>
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  </div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
  <div>
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          <td style="width: 27pt; vertical-align: top; align: right;">
            <div style="margin-left: 9pt; font-size: 9pt; font-family: Arial;">&#8226;</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;">During the quarter, the Company completed the divestment of the Blackwater Project to Artemis Gold (&#8220;Artemis&#8221;) for total cash consideration of C$190 million<font style="font-style: italic;">. </font>The initial cash payment of C$140 million was received during the quarter with the remaining C$50 million cash payment due on August 24, 2021. Under the terms of the agreement, the Company has retained
              an 8% gold stream and a 6% equity stake in Artemis. <font style="font-style: italic;">(Refer to the Company's June 24, 2020 and August 24, 2020 news releases for further information)</font></div>
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;"><font style="font-style: italic;"> <br>
              </font></div>
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  <font style="font-size: 9pt; font-family: Arial;"> </font>
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            <div style="margin-left: 9pt; font-size: 9pt; font-family: Arial;">&#8226;</div>
          </td>
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            <div style="text-align: justify; font-size: 9pt; font-family: Arial;">During the quarter, the Company completed the full redemption of its outstanding 6.25% senior notes due in 2022 that was funded from the proceeds of the $400 million senior
              notes offering that was completed on June 24, 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>
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;"><font style="font-style: italic;"> <br>
              </font></div>
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            <div style="margin-left: 9pt; font-size: 9pt; font-family: Arial;">&#8226;</div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;">During the quarter, the Company transferred approximately $90 million in letters of credit related to mine closure costs to surety bonds, increasing the funds available under
              the credit facility.</div>
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;"> <br>
            </div>
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  <font style="font-size: 9pt; font-family: Arial;"> </font>
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          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;">On October 9, 2020, the Company extended its secured credit facility with a syndicate of 8 top-tier financial institutions. The facility will now mature on October 9, 2023
              and has a new maximum borrowing limit of $350 million. <font style="font-style: italic;">(Additional details provided below)</font></div>
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;"><font style="font-style: italic;"> <br>
              </font></div>
          </td>
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          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;">At the end of the quarter, the Company had a cash position of $415 million and a strong liquidity position of approximately $720 million, based on the amended credit
              facility.</div>
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          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; font-size: 9pt; font-family: Arial;">Mr. Eric Vinet has been promoted to Senior Vice President, Operations to be effective October 19, 2020. Eric joined New Gold in January 2019 as Vice President, Technical
              Services and most recently was the Interim General Manager at the Rainy River Mine where he led the successful repositioning of the operation for profitability and free cash flow generation.</div>
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  <div style="text-align: justify; font-size: 9pt; font-family: Arial;">"We are very pleased with the results from the Rainy River Mine as the operations met, or exceeded, target levels. Supported by the strong operational performance delivered in the
    quarter and with all deferred site construction capital substantially complete, the operation is well positioned to deliver on its life of mine plan that includes strong production growth at lower costs along with a significant and corresponding
    reduction in capital requirements." stated Renaud Adams, CEO. "Our improved operational performance has allowed New Gold to complete key corporate transactions during the year that supported the restructuring of our balance sheet and strengthened our
    liquidity position. As we enter the final quarter of the year, we will continue to build on the progress made during the year as we position the Company for the future and deliver free cash flow generation beginning in 2021."</div>
  <font style="font-size: 9pt; font-family: Arial;"> </font>
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    <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold; color: rgb(90, 112, 46);">newgold.com</div>
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    <div style="text-align: right;" id="DSPFPageNumberArea"><font style="font-family: Arial; font-size: 9pt; color: #77933C; font-weight: normal; font-style: normal;" id="DSPFPageNumber">1</font></div>
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  <div style="font-weight: bold; font-family: Arial;">Consolidated Third Quarter Operational Results</div>
  <div>&#160;</div>
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  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z49d159743df945b09ba26a2775374b4b">

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        <td style="width: 36.48%; 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: 16.85%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">Q3 2020</div>
        </td>
        <td style="width: 16.85%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">9M 2020</div>
        </td>
        <td style="width: 29.83%; 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; font-weight: bold; color: rgb(255, 255, 255); font-family: 'Arial Narrow'; font-size: 9pt;">2020 Revised Consolidated Guidance</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36.48%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div><font style="font-size: 9pt; font-family: 'Arial Narrow';">Gold eq. production (ounces)</font><font style="font-size: 9pt; font-family: 'Arial Narrow';"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></font></div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">115,536</div>
        </td>
        <td style="width: 16.85%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">317,050</div>
        </td>
        <td style="width: 29.83%; 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; font-size: 9pt; font-family: 'Arial Narrow';">415,000 - 455,000</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36.48%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="font-family: 'Arial Narrow'; font-size: 9pt;">Gold production (ounces)</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">78,959</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">210,043</div>
        </td>
        <td style="width: 29.83%; 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; font-size: 9pt; font-family: Arial;">284,000 - 304,000</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36.48%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div style="font-family: 'Arial Narrow'; font-size: 9pt;">Copper production (Mlbs)</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">18.2</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">53.6</div>
        </td>
        <td style="width: 29.83%; 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; font-size: 9pt; font-family: 'Arial Narrow';">65 - 75</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36.48%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div><font style="font-family: 'Arial Narrow'; font-size: 9pt;">Average realized gold price, per ounce</font><font style="font-size: 9pt; font-family: 'Arial Narrow';"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></font></div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">1,613</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">1,532</div>
        </td>
        <td style="width: 29.83%; 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;">-</div>
        </td>
      </tr>
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        <td style="width: 36.48%; vertical-align: middle; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
          <div><font style="font-family: 'Arial Narrow'; font-size: 9pt;">Average realized copper price, per pound</font><font style="font-size: 9pt; font-family: 'Arial Narrow';"><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">2</sup></font></div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">2.99</div>
        </td>
        <td style="width: 16.85%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">2.69</div>
        </td>
        <td style="width: 29.83%; 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;">-</div>
        </td>
      </tr>

  </table>
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    <table cellspacing="0" cellpadding="0" border="0" id="zab6a0a0870414358b7a6a7a7ca5c3eb7" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

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          <td style="width: 2%; font-family: 'Times New Roman',Times,serif; font-size: 8pt; text-align: left; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">1.<br>
          </td>
          <td style="width: 98%; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">
              <div style="text-indent: 0.3pt;">Total gold eq. ounces include silver and copper produced (excluding production from the Cerro San Pedro Mine) converted to a gold eq. 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 eq. ounces using a constant ratio of those prices. All copper is produced by the New Afton Mine.</div>
            </div>
          </td>
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          <td style="width: 2%; font-family: 'Times New Roman',Times,serif; font-size: 8pt; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0);">2. <br>
          </td>
          <td style="width: 98%; border-bottom: 2px solid rgb(0, 0, 0); border-right: 2px solid rgb(0, 0, 0);">
            <div style="font-family: 'Times New Roman',Times,serif; font-size: 8pt;">Refer to the &#8220;Non-GAAP Financial Performance Measures" section of this press release.</div>
          </td>
        </tr>

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    <div> <br>
    </div>
  </div>
  <font style="font-family: 'Arial Narrow'; font-size: 8pt;"> </font><font style="font-family: 'Arial Narrow'; font-size: 8pt;"> </font><font style="font-family: 'Arial Narrow'; font-size: 8pt;"> </font>
  <div style="font-weight: bold; font-family: Arial;">Rainy River Mine Highlights</div>
  <div>&#160;</div>
  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zbad13d7cdda948eca138c9875cc6e995">

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        <td style="width: 36.48%; 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="font-weight: bold; color: rgb(255, 255, 255); font-family: 'Arial Narrow'; font-size: 9pt;">Rainy River Mine</div>
        </td>
        <td style="width: 16.85%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">Q3 2020</div>
        </td>
        <td style="width: 16.85%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">9M 2020</div>
        </td>
        <td style="width: 29.83%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">2020 Revised Guidance</div>
        </td>
      </tr>
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        <td style="width: 36.48%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold eq. production (ounces)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup></div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">64,221</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">164,960</div>
        </td>
        <td style="width: 29.83%; 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; font-size: 9pt; font-family: 'Arial Narrow';">225,000 - 235,000</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36.48%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold eq. sold (ounces)</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">61,726</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">163,137</div>
        </td>
        <td style="width: 29.83%; 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; font-size: 9pt; font-family: 'Arial Narrow';">-</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36.48%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold production (ounces)</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">63,004</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">162,185</div>
        </td>
        <td style="width: 29.83%; 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; font-size: 9pt; font-family: 'Arial Narrow';">222,000 - 232,000</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36.48%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold sold (ounces)</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">60,592</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">160,438</div>
        </td>
        <td style="width: 29.83%; 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; font-size: 9pt; font-family: 'Arial Narrow';">-</div>
        </td>
      </tr>
      <tr>
        <td style="width: 36.48%; 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="font-size: 9pt; font-family: 'Arial Narrow';">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: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">1,615</div>
        </td>
        <td style="width: 16.85%; 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; font-size: 9pt; font-family: 'Arial Narrow';">1,533</div>
        </td>
        <td style="width: 29.83%; 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; font-size: 9pt; font-family: 'Arial Narrow';">-</div>
        </td>
      </tr>

  </table>
  <font style="font-size: 9pt;"> </font><font style="font-size: 9pt;"> </font><font style="font-family: 'Arial Narrow'; font-size: 8pt;"> </font><font style="font-family: 'Arial Narrow'; font-size: 8pt;"> </font>
  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

      <tr>
        <td style="width: 100%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;"><font style="font-size: 9pt;"> </font>
          <div style="font-family: 'Arial Narrow'; font-size: 8pt;">1. Gold eq. ounces for Rainy River in Q3 2020 includes 102,814 ounces of silver converted to a gold eq. based on a ratio of $1,500 per gold ounce and $17.75 per silver ounce.</div>
          <font style="font-family: 'Arial Narrow'; font-size: 8pt;"> </font>
          <div style="font-family: 'Arial Narrow'; font-size: 8pt;">2. Refer to the &#8220;Non-GAAP Financial Performance Measures" section of this press release.</div>
          <font style="font-family: 'Arial Narrow'; font-size: 8pt;"> </font></td>
      </tr>

  </table>
  <font style="font-family: 'Arial Narrow'; font-size: 8pt;"> </font>
  <div><font style="font-size: 8pt;"><br>
    </font> </div>
  <font style="font-size: 8pt;"> </font>
  <div style="font-weight: bold; font-family: Arial;">Rainy River Operating KPI&#8217;s</div>
  <font style="font-family: Arial;"> </font>
  <div>&#160;</div>
  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z4191610fde794555b0d88c1b3674a27a">

      <tr>
        <td style="width: 32.73%; 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="font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">Rainy River Mine</div>
        </td>
        <td style="width: 13.45%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">FY 2019</div>
        </td>
        <td style="width: 13.45%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">Q1 2020</div>
        </td>
        <td style="width: 13.45%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">Q2 2020</div>
        </td>
        <td style="width: 13.45%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">Q3 2020</div>
        </td>
        <td style="width: 13.48%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">9M 2020</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Tonnes mined per day (ore and waste)</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">118,404</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">127,684</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">126,512</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">145,701</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">133,344</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Ore tonnes mined per day</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">18,712</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">26,012</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">23,101</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">36,515</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">28,572</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Operating waste tonnes per day</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">73,702</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">75,596</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">72,575</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">62,818</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">70,302</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Capitalized waste tonnes per day</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">25,990</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">26,077</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">30,836</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">46,368</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">34,471</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Total waste tonnes per day</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">99,692</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">101,673</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">103,411</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">109,186</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">104,773</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Strip ratio (waste: ore)</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">5.33</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">3.91</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">4.48</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">2.99</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">3.67</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Tonnes milled per calendar day</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">21,980</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">18,441</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">23,880</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">26,998</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">23,121</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold grade milled (g/t)</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">1.08</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">1.03</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">0.78</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">0.88</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">0.89</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold recovery (%)</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">91</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">90</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">89</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">89</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">90</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Mill availability (%)</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">88</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">91</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">90</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">90</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">90</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold production (oz)</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">253,772</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">50,381</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">48,800</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">63,004</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">162,185</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.73%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold eq. production<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> (oz)</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">257,051</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">51,106</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">49,633</div>
        </td>
        <td style="width: 13.45%; 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; font-size: 9pt; font-family: 'Arial Narrow';">64,221</div>
        </td>
        <td style="width: 13.48%; 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; font-size: 9pt; font-family: 'Arial Narrow';">164,960</div>
        </td>
      </tr>

  </table>
  <font style="font-size: 8pt; font-family: 'Arial Narrow';"> </font><font style="font-size: 8pt; font-family: 'Arial Narrow';"> </font>
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          <div style="text-indent: 0.3pt; font-size: 8pt; font-family: 'Arial Narrow';">1.<font style="text-indent: 0px;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;</font>Gold eq. ounces for Rainy River in Q3 2020 includes 102,814 ounces of silver converted to a gold
            eq. based on a ratio of $1,500 per gold ounce and $17.75 per silver ounce.</div>
          <font style="font-size: 8pt; font-family: 'Arial Narrow';"> </font></td>
      </tr>

  </table>
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        <tr>
          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial;">&#8226;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;">Following the approval by Health Canada, three rapid testing devices were procured to test for the COVID-19 virus as we continue to prioritize the safety and well-being of our employees
            and our local and Indigenous communities. Daily testing increased during the quarter to further enhance screening protocols, which have been instrumental in keeping the operation COVID-19 free.</td>
        </tr>
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          <td style="width: 2%; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
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          <td style="width: 2%; text-align: left; vertical-align: top;" rowspan="1"><font style="font-family: Arial; font-size: 9pt;">&#8226;</font></td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">For the third quarter, gold eq. production was 64,221 ounces (63,004 ounces of gold and 102,814 ounces of silver), well positioned to achieve the mid-range of revised annual
            production guidance as the overall grade is expected to continue to improve in the fourth quarter.</td>
        </tr>
        <tr>
          <td style="width: 2%; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
        </tr>
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          <td style="width: 2%; text-align: left; vertical-align: top;" rowspan="1"><font style="font-family: Arial; font-size: 9pt;">&#8226;</font></td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">During the third quarter, the open pit mine continued to ramp-up towards our 2021 target capacity of 150,000 tonnes per day. Mine productivity increased by 15% over the prior
            quarter, averaging 145,701 tonnes per day, achieving 97% of the 2021 productivity target.</td>
        </tr>
        <tr>
          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
        </tr>
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          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#8226;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">During the quarter, approximately 3.4 million ore tonnes and 10.0 million waste tonnes (including 4.3 million capitalized waste tonnes) were mined from the open pit at an
            average strip ratio of 2.99:1.</td>
        </tr>
        <tr>
          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
        </tr>
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          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#8226; <br>
          </td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">During the quarter, the mill achieved a record of 26,998 tonnes per day, reaching the maximum average allowable under the existing mill permit. The mill continued to process
            ore directly supplied by the open pit combined with ore from the medium grade stockpile and processed an average grade of 0.88 grams per tonne at a gold recovery of 89%. Low grade ore continues to be stockpiled for future processing as part of
            the underground mine plan. Now that the mill has reached its maximum capacity, efforts will focus on additional optimization opportunities to increase recovery and unit cost performance. Mill availability for the quarter averaged 90%, in-line
            with plan.</td>
        </tr>

    </table>
  </div>
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  <div style="color: rgb(90, 112, 46);">newgold.com</div>
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      <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

          <tr>
            <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#8226; <br>
            </td>
            <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">All key capital projects were substantially completed during the quarter, including the Stage 2 tailings dam raise, wick drain installation for stabilization of the east
              waste dump, commissioning of the maintenance and warehouse facilities as well as the water treatment train following the commissioning of the Biochemical Reactor (BCR2) that allows clean water effluent discharge. As previously disclosed, a
              small portion of the Tailings Management Area (TMA) construction as well as potentially other smaller projects that were originally scheduled for completion in 2021 are now planned for completion in 2020, thereby reducing planned capital
              requirements for 2021.</td>
          </tr>
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            <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
            <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
          </tr>
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            <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#8226;</td>
            <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">In the latter part of the quarter, drilling permits were received and an exploration drilling program will be launched during the fourth quarter that will initially focus
              on the northeast trend area, located approximately 18 kilometers northeast of the Rainy River Mine. The 8,000 metre drilling campaign has been designed in two phases and will test previously identified high priority targets.</td>
          </tr>

      </table>
      <div><br>
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  </div>
  <div> <br>
  </div>
  <div style="text-align: justify; font-weight: bold; font-family: Arial;">New Afton Mine Operational Highlights</div>
  <div>&#160;</div>
  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zfed4419674584d018923ee4470ea11c1">

      <tr>
        <td style="width: 33.6%; 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="font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">New Afton Mine</div>
        </td>
        <td style="width: 17.61%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">Q3 2020</div>
        </td>
        <td style="width: 17.61%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">9M 2020</div>
        </td>
        <td style="width: 31.18%; 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; font-weight: bold; color: rgb(255, 255, 255); font-size: 9pt; font-family: 'Arial Narrow';">2020 Revised Guidance</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.6%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold eq. production (ounces)<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;"> 1<br>
            </sup></div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">51,315</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">152,090</div>
        </td>
        <td style="width: 31.18%; 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; font-size: 9pt; font-family: 'Arial Narrow';">190,000 - 220,000</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.6%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold eq. sold (ounces)</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">49,179</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">143,094</div>
        </td>
        <td style="width: 31.18%; 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; font-size: 9pt; font-family: 'Arial Narrow';">-</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.6%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold production (ounces)</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">15,955</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">47,858</div>
        </td>
        <td style="width: 31.18%; 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; font-size: 9pt; font-family: 'Arial Narrow';">62,000 - 72,000</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.6%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Gold sold (ounces)</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">15,168</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">44,948</div>
        </td>
        <td style="width: 31.18%; 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; font-size: 9pt; font-family: 'Arial Narrow';">-</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.6%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Copper production (Mlbs)</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">18.2</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">53.6</div>
        </td>
        <td style="width: 31.18%; 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; font-size: 9pt; font-family: 'Arial Narrow';">65 - 75</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.6%; 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="font-size: 9pt; font-family: 'Arial Narrow';">Copper sold (Mlbs)</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">17.5</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">50.5</div>
        </td>
        <td style="width: 31.18%; 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; font-size: 9pt; font-family: 'Arial Narrow';">-</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.6%; 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="font-size: 9pt; font-family: 'Arial Narrow';">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: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">1,606</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">1,529</div>
        </td>
        <td style="width: 31.18%; 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; font-size: 9pt; font-family: 'Arial Narrow';">-</div>
        </td>
      </tr>
      <tr>
        <td style="width: 33.6%; 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="font-size: 9pt; font-family: 'Arial Narrow';">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: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">2.99</div>
        </td>
        <td style="width: 17.61%; 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; font-size: 9pt; font-family: 'Arial Narrow';">2.69</div>
        </td>
        <td style="width: 31.18%; 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; font-size: 9pt; font-family: 'Arial Narrow';">-</div>
        </td>
      </tr>

  </table>
  <font style="font-family: 'Arial Narrow'; font-size: 8pt;"> </font><font style="font-family: 'Arial Narrow';"> </font>
  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">

      <tr>
        <td style="width: 100%; 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-indent: 0.3pt; font-family: 'Arial Narrow'; font-size: 8pt;">1.<font style="text-indent: 0px;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;</font>Gold eq. ounces for New Afton in Q3 2020 includes 18.2 million pounds of copper and 69,011 ounces
            of silver converted to a gold eq. based on a ratio of $1,500 per gold ounce, $2.85 per copper pound and $17.75 per silver ounce.</div>
          <font style="font-family: 'Arial Narrow'; font-size: 8pt;"> </font></td>
      </tr>
      <tr>
        <td style="width: 100%; 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-indent: 0.3pt; font-family: 'Arial Narrow'; font-size: 8pt;">2.<font style="text-indent: 0px;">&#160;&#160;&#160;&#160;&#160;&#160;</font>Refer to the &#8220;Non-GAAP Financial Performance Measures&#8221; section of this press release.</div>
        </td>
      </tr>

  </table>
  <font style="font-family: 'Arial Narrow';"> </font>
  <div>&#160;</div>
  <div> </div>
  <div style="font-weight: bold;">New Afton Operating KPI&#8217;s</div>
  <div>&#160;</div>
  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="zccae16b56f4d4387964075b0506b40f8">

      <tr>
        <td style="width: 32.6%; 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="font-weight: bold; color: rgb(255, 255, 255); font-family: 'Arial Narrow'; font-size: 9pt;">New Afton Mine</div>
        </td>
        <td style="width: 13.48%; 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; font-weight: bold; color: rgb(255, 255, 255); font-family: 'Arial Narrow'; font-size: 9pt;">FY 2019</div>
        </td>
        <td style="width: 13.48%; 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; font-weight: bold; color: rgb(255, 255, 255); font-family: 'Arial Narrow'; font-size: 9pt;">Q1 2020</div>
        </td>
        <td style="width: 13.48%; 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; font-weight: bold; color: rgb(255, 255, 255); font-family: 'Arial Narrow'; font-size: 9pt;">Q2 2020</div>
        </td>
        <td style="width: 13.48%; 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; font-weight: bold; color: rgb(255, 255, 255); font-family: 'Arial Narrow'; font-size: 9pt;">Q3 2020</div>
        </td>
        <td style="width: 13.5%; 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; font-weight: bold; color: rgb(255, 255, 255); font-family: 'Arial Narrow'; font-size: 9pt;">9M 2020</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.6%; 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="font-family: 'Arial Narrow'; font-size: 9pt;">Tonnes mined per day (ore and waste)</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">15,620</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">16,727</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">15,358</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">17,249</div>
        </td>
        <td style="width: 13.5%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">16,448</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.6%; 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="font-family: 'Arial Narrow'; font-size: 9pt;">Tonnes milled per calendar day</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">15,300</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">15,377</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">14,240</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">15,483</div>
        </td>
        <td style="width: 13.5%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">15,035</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.6%; 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="font-family: 'Arial Narrow'; font-size: 9pt;">Gold grade milled (g/t)</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">0.47</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">0.45</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">0.46</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">0.44</div>
        </td>
        <td style="width: 13.5%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">0.45</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.6%; 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="font-family: 'Arial Narrow'; font-size: 9pt;">Gold recovery (%)</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">82</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">81</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">81</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">80</div>
        </td>
        <td style="width: 13.5%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">80</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.6%; 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="font-family: 'Arial Narrow'; font-size: 9pt;">Gold production (oz)</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">68,785</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">16,409</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">15,494</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">15,955</div>
        </td>
        <td style="width: 13.5%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">47,858</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.6%; 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="font-family: 'Arial Narrow'; font-size: 9pt;">Copper grade milled (%)</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">0.78</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">0.73</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">0.72</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">0.71</div>
        </td>
        <td style="width: 13.5%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">0.72</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.6%; 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="font-family: 'Arial Narrow'; font-size: 9pt;">Copper recovery (%)</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">83</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">82</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">83</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">82</div>
        </td>
        <td style="width: 13.5%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">82</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.6%; 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="font-family: 'Arial Narrow'; font-size: 9pt;">Copper production (Mlbs)</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">79.4</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">18.5</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">16.9</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">18.2</div>
        </td>
        <td style="width: 13.5%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">53.6</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.6%; 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="font-family: 'Arial Narrow'; font-size: 9pt;">Mill availability (%)</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">97</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">98</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">92</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">98</div>
        </td>
        <td style="width: 13.5%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">96</div>
        </td>
      </tr>
      <tr>
        <td style="width: 32.6%; 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="font-family: 'Arial Narrow'; font-size: 9pt;">Gold eq. production<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">1</sup> (oz)</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">229,091</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">52,329</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">48,446</div>
        </td>
        <td style="width: 13.48%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">51,315</div>
        </td>
        <td style="width: 13.5%; 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; font-family: 'Arial Narrow'; font-size: 9pt;">152,090</div>
        </td>
      </tr>

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

      <tr>
        <td style="width: 100%; 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-indent: 0.3pt; font-family: 'Arial Narrow'; font-size: 8pt;">1.<font style="text-indent: 0px;" id="TRGRRTFtoHTMLTab">&#160;&#160;&#160;&#160;&#160;&#160;</font>Gold eq. ounces for New Afton in Q3 2020 includes 18.2 million pounds of copper and 69,011 ounces
            of silver converted to a gold eq. based on a ratio of $1,500 per gold ounce, $2.85 per copper pound and $17.75 per silver ounce.</div>
        </td>
      </tr>

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

        <tr>
          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#8226;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">The mine produced 51,315 gold eq. ounces for the quarter (15,955 ounces of gold, and 18.2 million pounds of copper) and the operation remains well positioned to achieve the
            mid-range of revised annual production guidance.</td>
        </tr>
        <tr>
          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#8226;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">During the quarter, total development towards the B3 and C-zone advanced by approximately 1,150 metres, achieving 92% of planned levels year to date.</td>
        </tr>
        <tr>
          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#8226;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">The underground mine averaged 17,249 tonnes per day for the quarter, above original planned levels.</td>
        </tr>
        <tr>
          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
        </tr>
        <tr>
          <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#8226;</td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">The mill averaged 15,483 tonnes per day for the quarter, in-line with plan, at an average gold and copper grade of 0.44 grams per tonne gold and 0.71% copper, respectively,
            with gold and copper recoveries of 80% and 82%, respectively.</td>
        </tr>
        <tr>
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          </td>
          <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">As previously disclosed, the mill continues to process lower copper and gold grades than originally planned. Both the 2020 and 2021 mine plans incorporate multiple sources of
            mined ore, including extraction from the east and west caves and rehabilitation and pillar recoveries of medium-high grade. During the quarter, a new access point into the east cave recovery zone was completed supporting an initial average
            extraction rate of 1,400 tonnes per day, including a peak of 2,000 tonnes per day, with an ultimate target extraction rate of 4,000 tonnes per day.</td>
        </tr>

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  <div>
    <div><br>
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    <div style="color: rgb(90, 112, 46);">newgold.com</div>
  </div>
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          <tr>
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              <div><img src="logo.jpg">&#160;</div>
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            <td style="width: 50.00%;">
              <div style="text-align: right;">&#160;<img src="header.jpg"></div>
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    <div> <br>
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    <div> <br>
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            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#8226; <br>
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              <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">Capital projects continued to be advanced during the quarter, including the construction of the Thickened and Amended Tailings ("TAT") facility. Installation of the lime
                system was completed, and foundation piling work is in progress. Manufacturing of the thickener is currently underway and is expected to be delivered in Q1 2021.</td>
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              <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#8226; <br>
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              <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">During the quarter, a key portion of the water permit was received, and the Phase 1 permit for the Thickened and Amended Tailings is expected to be received in the fourth
                quarter. B3 permitting remains on schedule and submission of the C-zone permit is expected during the fourth quarter.</td>
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            <tr>
              <td style="width: 2%; text-align: left; vertical-align: top; font-family: Arial; font-size: 9pt;" rowspan="1">&#160;</td>
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              <td style="width: 98%; font-family: Arial; font-size: 9pt;" rowspan="1">Approval for Phase 1 of the Cherry Creek Trend drilling program was recently received with drilling expected to be launched in the fourth quarter. The program will focus
                on drilling high priority targets defined by coincidental geochemical and geophysical anomalies. The objective of the 10,000 metre Phase 1 drilling campaign is to evaluate both near surface epithermal gold and underlying copper-gold system
                potential within the approximately 12 kilometre trend of the prospective structural corridor located approximately 3 kilometres west of the New Afton mill. <br>
              </td>
            </tr>

        </table>
        <div><br>
        </div>
      </div>
      <div>
        <div><br>
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  <div style="text-align: justify; font-weight: bold; color: rgb(113, 140, 57); font-family: Arial;">Credit Facility Highlights</div>
  <font style="font-family: Arial;"> </font>
  <div>&#160;</div>
  <div style="text-align: justify; font-family: Arial; font-size: 9pt;">On October 9, 2020, the Company entered into an amended and restated credit agreement with a syndicate of financial institutions, including The Bank of Nova Scotia, Royal Bank of
    Canada, Canadian Imperial Bank of Commerce, The Toronto Dominion Bank, Bank of America N.A., Bank of Montreal, JP Morgan Chase Bank N.A., and National Bank of Canada. The amended and restated credit agreement extends the maturity date for the facility
    from August 14, 2021 to October 9, 2023 and modifies the maximum borrowing limit to $350 million from $400 million. All material financial covenants remain the same.</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div>&#160;</div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold; color: rgb(113, 140, 57); font-family: Arial;">Third Quarter Conference Call and Webcast</div>
  <font style="color: rgb(0, 0, 0); font-family: Arial;"> </font>
  <div>&#160;</div>
  <div style="text-align: justify; font-family: Arial; font-size: 9pt;">The Company will host an earnings call and webcast on Thursday, November 5, 2020 at 08:30 AM Eastern Time to discuss the financial results. Details are provided below:</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="font-family: Arial; font-size: 9pt;">&#160;</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="text-align: justify; font-family: Arial; font-size: 9pt;">Participants may listen to the webcast by registering on our website at www.newgold.com or via the following link&#160;<u>https://onlinexperiences.com/Launch/QReg/ShowUUID=669A87CE-F2EB-4685-A672-8B43399BEAFE</u></div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="font-family: Arial; font-size: 9pt;">&#160;</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div>
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        <tr>
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          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; font-family: Arial; font-size: 9pt;">Participants may also listen to the conference call by calling toll free 1-833-350-1329, or 1-236-389-2426 outside of the U.S. and Canada.</div>
          </td>
        </tr>

    </table>
  </div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
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        <tr>
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          <td style="width: auto; vertical-align: top;">
            <div style="font-family: Arial; font-size: 9pt;">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 7759268. An archived webcast
              will also be available until December 5, 2020 at www.newgold.com.</div>
          </td>
        </tr>

    </table>
  </div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="font-family: Arial; font-size: 9pt;">&#160;</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="text-align: justify; font-weight: bold; font-family: Arial; font-size: 12pt; color: rgb(113, 140, 57);">About New Gold Inc.</div>
  <font style="font-family: Arial; font-size: 12pt;"> </font>
  <div style="text-align: justify; font-family: Arial; font-size: 9pt;">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. The Company also holds an
    8% gold stream on the Artemis Gold Blackwater project located in British Columbia and a 6% equity stake in Artemis. The Company also operates the Cerro San Pedro Mine in Mexico (in reclamation). New Gold'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>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="font-family: Arial; font-size: 9pt;">&#160;</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="font-family: Arial; font-size: 9pt;">For further information, please contact:</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="font-family: Arial; font-size: 9pt;">&#160;</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="font-weight: bold; font-family: Arial; font-size: 9pt;">Anne Day</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="font-family: Arial; font-size: 9pt;">Vice President, Investor Relations</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="font-family: Arial; font-size: 9pt;">Direct: +1 (416) 324-6003</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div style="font-family: Arial; font-size: 9pt;">Email: anne.day@newgold.com</div>
  <font style="font-family: Arial; font-size: 9pt;"> </font>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><font style="color: rgb(113, 140, 57);">newgold.com</font> </div>
  <div><br>
  </div>
  <div><br>
  </div>
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          <tr>
            <td style="width: 50%;">
              <div><img src="logo.jpg">&#160;</div>
            </td>
            <td style="width: 50.00%;">
              <div style="text-align: right;">&#160;<img src="header.jpg"></div>
            </td>
          </tr>

      </table>
    </div>
    <div>&#160;</div>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify; font-weight: bold; font-family: Arial;">Cautionary Note Regarding Forward-Looking Statements</div>
  <div style="text-align: justify; font-family: Arial; font-size: 8pt;">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: statements with respect to the Company&#8217;s plans to optimize mine and mill productivities and unit cost performance; statements with respect to the Company being able to
    achieve revised annual production guidance at the Rainy River Mine and the New Afton Mine; statements with respect to the cash payment and stream from the divestment of the Blackwater Project to Artemis; the timing of completion for capital projects at
    Rainy River Mine and the New Afton Mine; statements with respect to the timing and scope of the exploration drilling program to be launched at the Rainy River Mine and Cherry Creek; and the timing of receipt of permits at the New Afton Mine.</div>
  <font style="font-family: Arial; font-size: 8pt;"> </font>
  <div style="font-family: Arial; font-size: 8pt;">&#160;</div>
  <font style="font-family: Arial; font-size: 8pt;"> </font>
  <div style="text-align: justify; font-family: Arial; font-size: 8pt;">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; (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; and (14) Artemis being able to complete the remaining C$50 million cash payment due on August 24, 2021 for the acquisition of the Blackwater Project.</div>
  <font style="font-family: Arial; font-size: 8pt;"> </font>
  <div style="font-family: Arial; font-size: 8pt;">&#160;</div>
  <font style="font-family: Arial; font-size: 8pt;"> </font>
  <div style="text-align: justify; font-family: Arial; font-size: 8pt;">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; 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 or the New Afton
    Mines on the timing described herein or at all; the Company not being able to complete the exploration drilling program to be launched at the Rainy River Mine and Cherry Creek on the timing described herein or at all; Artemis not being able to make the
    remaining C$50 million cash payment due on August 24, 2021. 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>
  <font style="font-family: Arial; font-size: 8pt;"> </font>
  <div>&#160;</div>
  <div><br>
  </div>
  <div><font style="color: rgb(113, 140, 57);">newgold.com</font> <br>
  </div>
  <div> <br>
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    <div><br>
    </div>
    <div>
      <div>
        <table cellspacing="0" cellpadding="0" border="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000; width: 100%;">

            <tr>
              <td style="width: 50%;">
                <div><img src="logo.jpg">&#160;</div>
              </td>
              <td style="width: 50.00%;">
                <div style="text-align: right;">&#160;<img src="header.jpg"></div>
              </td>
            </tr>

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  <div> <br>
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  <div style="text-align: justify; font-weight: bold; font-family: Arial;">Non-GAAP Financial Performance Measures</div>
  <font style="font-family: Arial;"> </font>
  <div style="font-family: Arial;">&#160;</div>
  <font style="font-family: Arial;"> </font>
  <div style="text-align: justify; font-weight: bold; font-family: Arial;">Average Realized Price</div>
  <font style="font-family: Arial;"> </font>
  <div>&#160;</div>
  <div style="text-align: justify; font-size: 8pt;">"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>
  <font style="font-size: 8pt; font-family: Arial;"> </font>
  <div>&#160;</div>
  <div style="font-weight: bold; font-family: Arial;">Technical Information</div>
  <div>&#160;</div>
  <div style="text-align: justify; font-family: Arial; font-size: 8pt;">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>
  <font style="font-family: Arial; font-size: 8pt;"> </font>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><font style="color: rgb(113, 140, 57);">newgold.com</font> </div>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
