Strong All-in Sustaining Costs Drive Increasing Margins and Record Free Cash Flow Generation, Provides 2024 Operational Outlook Update

(All amounts are in U.S. dollars unless otherwise indicated)

TORONTO, Oct. 29, 2024 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) reports third quarter results for the Company as of September 30, 2024.  Third quarter 2024 production was 78,369 gold ounces and 12.6 million pounds of copper, at operating expenses of $1,021 per gold ounce sold (co-product basis)3 and all-in sustaining costs1 of $1,195 per gold ounce sold (by-product basis). The strong cost performance allows the Company to leverage higher metal prices, resulting in record cash flow from operations of $128 million and record free cash flow1 of $57 million.

Strong All-in Sustaining Costs Drive Increasing Margins and Record Free Cash Flow Generation, Provides 2024 Operational Outlook Update

(All amounts are in U.S. dollars unless otherwise indicated)

TORONTO, Oct. 29, 2024 /CNW/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) reports third quarter results for the Company as of September 30, 2024.  Third quarter 2024 production was 78,369 gold ounces and 12.6 million pounds of copper, at operating expenses of $1,021 per gold ounce sold (co-product basis)3 and all-in sustaining costs1 of $1,195 per gold ounce sold (by-product basis). The strong cost performance allows the Company to leverage higher metal prices, resulting in record cash flow from operations of $128 million and record free cash flow1 of $57 million.

Projects are Expected to Drive Significant Production Growth and Cost Reduction

TORONTO, Oct. 29, 2024 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) is pleased to announce the completion of significant production milestones at the New Afton copper-gold mine in British Columbia and the Rainy River gold mine in Ontario.

C-Zone, New Afton's fourth block cave, achieved commercial production ahead of schedule with the materials handling system coming online in October and the cave footprint reaching the targeted hydraulic radius for self-cave propagation. Installation of the gyratory crusher and conveyor system was completed ahead of schedule and C-Zone is now set up for high capacity, low-cost, low-emission ore transportation for the life-of-mine. Additionally, construction of the C-Zone cave footprint has reached the targeted 18 draw bells for hydraulic radius. These two milestones are expected to have an immediate positive impact on unit operating costs and ultimately facilitate a ramp-up to previously achieved processing rates of more than 14,500 tonnes per day by 2026.

Projects are Expected to Drive Significant Production Growth and Cost Reduction

TORONTO, Oct. 29, 2024 /CNW/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) is pleased to announce the completion of significant production milestones at the New Afton copper-gold mine in British Columbia and the Rainy River gold mine in Ontario.

C-Zone, New Afton's fourth block cave, achieved commercial production ahead of schedule with the materials handling system coming online in October and the cave footprint reaching the targeted hydraulic radius for self-cave propagation. Installation of the gyratory crusher and conveyor system was completed ahead of schedule and C-Zone is now set up for high capacity, low-cost, low-emission ore transportation for the life-of-mine. Additionally, construction of the C-Zone cave footprint has reached the targeted 18 draw bells for hydraulic radius. These two milestones are expected to have an immediate positive impact on unit operating costs and ultimately facilitate a ramp-up to previously achieved processing rates of more than 14,500 tonnes per day by 2026.

TORONTO, Oct. 2, 2024 /CNW/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) is providing notice that it will release its third quarter 2024 operational and financial results after market close on Tuesday, October 29, 2024. The Company will host its third quarter 2024 earnings conference call and webcast on Wednesday, October 30, 2024 at 8:30 am Eastern Time.

Third Quarter 2024 Conference Call and Webcast

TORONTO, Oct. 2, 2024 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) is providing notice that it will release its third quarter 2024 operational and financial results after market close on Tuesday, October 29, 2024. The Company will host its third quarter 2024 earnings conference call and webcast on Wednesday, October 30, 2024 at 8:30 am Eastern Time.

Third Quarter 2024 Conference Call and Webcast

Highlights the Upside Potential from Multiple High-Grade Copper-Gold Porphyry Zones in the Eastern Sector of the Mine

TORONTO, Sept. 16, 2024 /CNW/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) is pleased to provide an update on its ongoing exploration program at its New Afton mine in British Columbia, Canada. Following successful exploration results at K-Zone earlier this year (see news release dated May 29, 2024), exploration drilling in the eastern part of the mine continues to intersect high-grade copper-gold porphyry mineralization.

Highlights the Upside Potential from Multiple High-Grade Copper-Gold Porphyry Zones in the Eastern Sector of the Mine

TORONTO, Sept. 16, 2024 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) is pleased to provide an update on its ongoing exploration program at its New Afton mine in British Columbia, Canada. Following successful exploration results at K-Zone earlier this year (see news release dated May 29, 2024), exploration drilling in the eastern part of the mine continues to intersect high-grade copper-gold porphyry mineralization.

TORONTO, Sept. 11, 2024 /PRNewswire/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) is pleased to provide an update on its ongoing Rainy River exploration program. Over the first eight months of 2024, exploration drilling at Rainy River has proven successful in advancing the Company's exploration objectives to expand existing resource envelopes, confirm the continuity of potential new mining zones, and grow the mineralized footprint through new near-mine discoveries. These results are expected to have a positive impact on Rainy River's mineral resource estimate at year-end 2024 and provide high-quality targets as the foundation of the Company's exploration strategy in the coming years.

TORONTO, Sept. 11, 2024 /CNW/ - New Gold Inc. ("New Gold" or the "Company") (TSX: NGD) (NYSE American: NGD) is pleased to provide an update on its ongoing Rainy River exploration program. Over the first eight months of 2024, exploration drilling at Rainy River has proven successful in advancing the Company's exploration objectives to expand existing resource envelopes, confirm the continuity of potential new mining zones, and grow the mineralized footprint through new near-mine discoveries. These results are expected to have a positive impact on Rainy River's mineral resource estimate at year-end 2024 and provide high-quality targets as the foundation of the Company's exploration strategy in the coming years.