NYSE American: NGD 0.86 +0.07 +9.46% Volume: 2,975,790 December 7, 2018
TSX: NGD 1.14 +0.09 +8.57% Volume: 1,369,178 December 7, 2018
GOLD: US $ 1,250.47 +0.00 +0% Volume: December 9, 2018
  • Mineral reserves
  • Mineral reserves

Reserves and Resources

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Summary of Mineral Reserve and Mineral Resource Estimates

On February 20, 2018, the Company reported consolidated Mineral Reserve and Mineral Resource estimates for its mines and development projects as at December 31, 2017 (excluding Peak Mines). On August 9, 2018, the Company announced the filing of a National Instrument 43-101 technical report dated July 25, 2018, for the Company's Rainy River Mine, as of June 30, 2018. A consolidated summary of total gold, copper and silver contained within New Gold’s global Mineral Reserves and Mineral Resources (excluding Peak) is set out in the table below. Measured and Indicated Mineral Resources are reported exclusive of Mineral Reserves.



1.Rainy River information as of June 30, 2018 per Technical Report 43-101 dated July 25, 2018





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, 2017, with the exception of Rainy River, which is as of June 30, 2018.
  3. New Gold’s year-end 2017 Mineral Reserves and Mineral Resources have been estimated based on the following metal prices and foreign exchange rate criteria:
  1. Lower cut-offs for the Company’s Mineral Reserves and Mineral Resources are outlined in the following table:
  1. 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.
  1. 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 extraction. 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. Likewise in certain instances, the designators ‘oxide’, ‘transitional’, ‘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 ‘lower grade reserves’ or ‘lower grade resources’ have been applied to differentiate material envisioned to be mined and processed directly from material to be mined and stored separately 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. Additional information 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 sedar.com.
  2. 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 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 a $1,275/oz gold price. Open pit and underground mineral resources are reported based on a $1,375/oz gold price. Open pit mineral resources are reported from within an open pit resource shell that extends to a depth of approximately 400 metres from surface. Underground mineral resources are reported below and peripheral to the mineral resource pit shell. 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.
  3. Qualified Person: The preparation of New Gold's mineral reserve and mineral resource estimates has been done by Qualified Persons as defined under NI 43-101, under the oversight and review of Mr. Mark A. Petersen, a Qualified Person under NI 43-101.
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