Randall Oliphant, Executive Chairman of New Gold Inc. (USA) (NYSEMKT:NGD), Presents at Canaccord Global Resources

October 17, 2014

New Gold Inc. (USA) (NYSEMKT:NGD) is well-positioned to leverage potential higher gold prices while maintaining its claimed position as the world’s lowest-cost producer in the current market, according to Randall Oliphant, Executive Chairman. He was speaking at the Canaccord Genuity Global Resources Conference 2014, held at the New York Palace Hotel.

New Gold is an intermediate gold mining company with four producing assets and three development projects. Current production is coming from the New Afton Mine in Canada, the Cerro San Pedro Mine in Mexico, the Mesquite Mine in the U.S. and the Peak Mines in Australia.

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In addition, New Gold owns 100% of its Blackwater and Rainy River projects, both in Canada, as well as 30% of its El Morro project, located in Chili. Oliphant said the pipeline of its Blackwater, Rainy River and El Morro projects is projected to triple New Gold’s production.

The New Afton Mine “generates 70% of our cash flow,” Oliphant said. The company is looking at expanding its mill at the site and is exploring a new deposit area. The early exploration of the new area is yielding gold and copper grades that are higher than New Afton’s previous zones, Oliphant said. “We continue to find more material.”

The company financials claim 18.5 Moz gold reserves, with 900 Koz annual production potential from growth projects. Oliphant said the company’s 2014 guidance will be met in terms of production and costs. First half results show 181 Koz in gold production, with first half 2014 guidance of 380-420; 835 Koz silver production with guidance of 1350-1750; and 51 Mlbs. copper production with guidance of 92-100. Total cash costs are $253/oz, with guidance of $320-$340.

All-in sustaining costs are $707/oz. for 2014’s first half, with guidance of $815-$835. New Gold also expects to generate $200 per ounce incremental margin versus average of peer companies.

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