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Decline | Accept

NYSE MKT: NGD 2.97 -0.14 -4.36% Volume: 3,344,093 December 11, 2017
TSX: NGD 3.82 -0.17 -4.26% Volume: 546,398 December 11, 2017
GOLD: US $ 1,243.66 -5.44 -0.44% Volume: December 11, 2017
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investors
  • Mineral reserves
  • Mineral reserves
Investors

Reserves and Resources

Click to Download PDF of Reserves and Resources Summary

Summary of Mineral Reserve and Mineral Resource Estimates

On February 15, 2017, the Company reported consolidated Mineral Reserve and Mineral Resource estimates for its mines and development projects as at December 31, 2016. A consolidated summary of total gold, copper and silver contained within New Gold’s global Mineral Reserves and Mineral Resources is set out in the table below. Measured and Indicated Mineral Resources are reported exclusive of Mineral Reserves.

MINERAL RESERVES AND MINERAL RESOURCES SUMMARY TABLE

Mineral Reserves

Mineral Reserve estimates as at December 31, 2016 are presented in the following table.

Mineral Reserve Estimates

Mineral Resources

Mineral Resource estimates as at December 31, 2016, exclusive of Mineral Reserves, are presented in the following tables:

MEASURED & INDICATED MINERAL RESOURCE ESTIMATES (EXCLUSIVE OF MINERAL RESERVES)

Inferred Mineral Resources

INFERRED MINERAL RESOURCE ESTIMATES

INFERRED MINERAL RESOURCE ESTIMATES

Notes to mineral reserve and resource estimates

  1. New Gold’s Mineral Reserves and Resources have been estimated in accordance with the CIM Standards, which are incorporated by reference in NI 43-101.

     

  2. All Mineral Resource and Mineral Reserve estimates for New Gold’s properties and projects are effective December 31, 2016.
  3. New Gold’s year-end 2016 Mineral Reserves and Mineral Resources have been estimated based on the following metal prices and foreign exchange rates:

     

  4. Lower cut-offs for the Company’s Mineral Reserves and Mineral Resources are outlined in the following table:

     

  5. New Gold reports its Measured and Indicated Mineral Resources exclusive of Mineral Reserves. Measured and Indicated Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. Inferred Mineral Resources have a greater amount of uncertainty as to their existence, economic and legal feasibility, do not have demonstrated economic viability, and are likewise exclusive of Mineral Reserves. Numbers may not add due to rounding.
  6. Mineral Resources are classified as Measured, Indicated and Inferred based on relative levels of confidence in their estimation and on technical and economic parameters consistent with the methods most suitable to their potential commercial exploitation. Where different mining and/or processing methods might be applied to different portions of a Mineral Resource, the designators ‘open pit’ and ‘underground’ are used to indicate the envisioned mining method. The designators ‘oxide’, ‘non-oxide’ and ‘sulphide’ have likewise been applied to indicate the type of mineralization as it relates to the appropriate mineral processing method and expected payable metal recoveries, and the designators ‘direct processing’ and ‘stockpile’ have been applied to differentiate material envisioned to be mined and processed directly from material to be mined and stored in a stockpile for future processing. Mineral Reserves and Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing and other risks and relevant issues. Other than the updated parameters described above, additional details regarding Mineral Reserve and Mineral Resource estimation, classification, reporting parameters, key assumptions and associated risks for each of New Gold’s material properties are provided in the respective NI 43-101 Technical Reports, which are available at www.sedar.com.

     

  7. Rainy River Project: In addition to the criteria described above, Mineral Reserves and Mineral Resources for the Rainy River Project are reported according to the following additional criteria: Underground Mineral Reserves are reported peripheral to and/or below the open pit Mineral Reserve pit shell, which has been designed and optimized based on an $800/oz gold price. Underground Mineral Resources are reported below a larger Mineral Resource pit shell, which has been defined based on a $1,350/oz. gold price. Approximately forty percent (40%) of the gold metal content defined as underground Mineral Reserves is derived from material located between the Mineral Reserve pit shell and the Mineral Resource pit shell; the remaining sixty percent (60%) of the metal content defined as underground Mineral Reserves is derived from material located below the Mineral Resource pit shell. Open pit Mineral Resources exclude material reported as underground Mineral Reserves.

     

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