Assets

Mineral Reserves and Mineral Resources

New Gold’s Mineral Reserve estimates as at December 31, 2023, are presented in the following table.

Mineral Resources

New Gold’s Mineral Resource estimates as at December 31, 2023, are presented in the following tables:

Notes to Mineral Reserve and Resource Estimates

1. New Gold's Mineral Reserves and Mineral Resources have been estimated in accordance with the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014).
2. Mineral Reserves and Mineral Resources have been estimated based on the following metal price assumptions and foreign exchange rate criteria
   
3. Cut-offs for Mineral Reserves and Mineral Resources are outlined in the table below:
   
4. New Gold reports its Measured and Indicated Mineral Resources exclusive of Mineral Reserves. Resources are not Mineral Reserves and do not have demonstrated economic viability. Numbers may not add due to rounding.
5. 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 Standard of Disclosure for Mineral Projects (“NI 43-101”) Technical Reports. The most recent technical report on the Rainy River Mine that is filed on SEDAR+ at www.sedarplus.ca is titled “NI 43-101 Technical Report for the Rainy River Mine, Ontario, Canada” with an effective date of March 28, 2022. The most recent technical report on the New Afton Mine that is filed on SEDAR+ at www.sedarplus.ca is titled “Technical Report on the New Afton Mine, British Columbia, Canada” dated February 28, 2020. The Company’s Technical Reports are available on SEDAR+ (www.sedarplus.ca) and EDGAR (www.sec.gov).
6. The preparation of New Gold's Mineral Reserves and Mineral Resources has been completed under the review and oversight of the following New Gold employees, all of whom are "Qualified Persons" as defined by NI 43-101.