#New Zealand #OceanaGold #Waihi #Waihi North

OceanaGold's Milestone Achievement: Permit Approval for Waihi North Project

OceanaGold Corporation has recently announced an important achievement in its operations in New Zealand—the official approval of its Waihi North Project (WNP) by the Expert Panel appointed by the New Zealand government. This decision is a significant step forward for the company and its future projects in the region. The permit allows OceanaGold to develop and operate a high-grade underground mine known as the Wharekirauponga Underground mine (WUG), located approximately 10 kilometers north of the existing Waihi operation.

What Does the Permit Approval Mean?

The permit approval encompasses several key developments, including not only the underground mine but also enhancements in surface infrastructure. Major components of the approved plan include:

• - Expansion of the Current Processing Plant: Increasing capacity to handle the expected higher-grade output from the new mine.
• - Upgraded Water Treatment Facilities: Ensuring that environmental standards continue to be met with increased production.
• - Construction of a Tailings Storage Facility: Critical for managing waste produced during the mining process.

Obtaining this permit represents a culmination of years of planning, environmental assessments, and consultations, reflecting OceanaGold's commitment to responsible mining practices.

Future Plans and Community Impact

With approval secured, OceanaGold is prepared to mobilize and begin tunneling for the underground mine in the first half of 2026. The company's board has also approved contracts for bulk earthworks at the Willows portal site, which will serve as the primary access point for WUG. These preparations signify the beginning of a transformative period for both OceanaGold and the local Waihi community.

Gerard Bond, President, and CEO of OceanaGold expressed his enthusiasm for the project, stating, "We are delighted to have received approval for our Waihi North Project, which allows access to one of the best undeveloped, high-grade orebodies in our industry. This is a major milestone for OceanaGold and for the Waihi operation and is a testament to our 35-year history of safe and responsible mining in New Zealand."

The impacts of this project extend beyond just mining; it is anticipated to create significant jobs and economic benefits for the surrounding communities. As production progresses, it may lead to substantial investments into local economies, driving growth and sustainability.

Environmental Compliance and Future Growth

OceanaGold has demonstrated a strong commitment to environmental compliance, ensuring that its operations align with New Zealand's stringent environmental laws. This includes measures to protect biodiversity while maintaining economic productivity. The Waihi North Project is expected to not only provide long-term gold production but is also designed to meet the highest standards of environmental and social responsibility.

Additionally, the increased number of exploration drill pads and doubled drilling rigs will enhance the company's capabilities to accelerate both definition and conversion drilling at Wharekirauponga in 2026 and beyond. This strategic growth initiative is essential for the company's long-term development and sustainability, focusing on the responsible extraction of resources to benefit all stakeholders involved.

Looking Ahead: Expectations and Timeline

Gold production from the Wharekirauponga Underground mine is projected to commence in 2032, with the first stope ore anticipated in 2033. Early works and project activities are currently progressing well, with the infrastructures necessary for operations' commencement designed to be completed by mid-2026.

OceanaGold remains dedicated to maximizing its free cash flow while ensuring returns for shareholders through the development of WNP and other growth opportunities. As a part of its portfolio, which includes several operating mines in the U.S., New Zealand, and the Philippines, OceanaGold is positioned as a growing intermediate gold and copper producer committed to the principles of safe and responsible mining.

Conclusion

In summary, the approval of the Waihi North Project marks a new chapter for OceanaGold, showcasing its dedication to responsible mining and commitment to the economies and environments in which it operates. As the project moves forward, it holds the promise of significant contributions to the Waihi region and the overall mining industry in New Zealand.