OceanaGold Reports Mineral Reserves and Resources for the Year Ended 2025

Core Viewpoint - OceanaGold Corporation reported its Mineral Reserves and Resources for the year ended December 31, 2025, highlighting significant changes in reserves and resources due to exploration efforts and higher gold prices, with a total of 5.83 million ounces of gold in reserves and 8.63 million ounces in measured and indicated resources [1][2][3]. Group 1: Mineral Reserves - Total Mineral Reserves decreased by 0.39 million ounces from the previous year, primarily due to depletion at Haile and a change in mining method at Ledbetter from open pit to underground, which improved overall asset NPV [1][2]. - The gold price assumption for reserves was increased to $2,200 per ounce, which allowed for new open pit phases at Macraes, extending its mine life to 2032 [1][2]. - The Haile mine is expected to produce an average of 210,000 ounces of gold per year from 2027 through 2031, providing a more sustainable production profile [1][3]. Group 2: Mineral Resources - Total Measured and Indicated Resources decreased by 0.31 million ounces from the prior year, mainly due to mining depletion and the change in mining method at Ledbetter [2][3]. - Inferred Resources increased by 0.3 million ounces, driven by additions at Wharekirauponga Underground and gold price-related open pit expansions at Macraes [2][3]. - The company plans to increase its exploration investment by 50%, with a budget of $60 million for 2026, reflecting its commitment to organic growth in reserves and resources [1][2]. Group 3: Operational Changes - The transition to underground mining at Ledbetter is expected to reduce waste movement and greenhouse gas emissions while improving the NPV of the Haile asset [1][3]. - Updated technical reports for Haile and Macraes will be filed by the end of March 2026, including life-of-mine plans and capital cost estimates based on Mineral Reserves only [1][2]. - The construction of the LUG portal at Haile is scheduled to commence in 2028, with first development ore expected in 2029 and steady-state production anticipated in 2030 [1][3].