#Vancouver #New Zealand #OceanaGold #Wharekirauponga #Waihi North

OceanaGold Advances with Fast-Track Application and High-Grade Mineralization Results at Wharekirauponga

OceanaGold Corporation, a prominent player in the gold mining sector, has announced significant progress regarding its Waihi North Project (WNP) in New Zealand. As of March 4, 2025, the company has lodged its application for fast-track approvals in accordance with the Fast-track Approvals Act 2024, following promising results from five drill holes at the Wharekirauponga site. This application marks a critical step toward expedited development and the potential realization of valuable mining operations in the region.

In its latest drill results, OceanaGold reported several remarkable intercepts, including:

• - A notable 6.3 meters at a grade of 8.7 g/t Au from 450.0 meters at the EG Vein (WKP135).
• - A high-grade section of 1.7 meters at 24.6 g/t Au from 373.3 meters at the EG HWS Vein (WKP135).
• - Additional intercepts include 3.5 meters at 14.0 g/t gold from 457.0 meters at the EG Vein (WKP132A) and 5.7 meters at 5.3 g/t from the EG Vein (WKP136A).

Gerard Bond, President and CEO of OceanaGold, hailed these results as substantiating the continuity and further potential at Wharekirauponga, already known for its declared reserves amounting to 1.2 million ounces of gold from previous assessments. The exploration program aims to extend mineralization in the area, capitalizing on the growth seen thus far.

The exploration program will initially target additional drilling at multiple sites, focusing on resource growth and highlighting high-grade mineralization within the southern shoot of the East Graben vein zone. As part of its commitment to responsible mining, OceanaGold intends to invest approximately $40-45 million into early works in 2025, independently of the approvals processes.

Located about 10 kilometers north of the Waihi Gold Mine, the Wharekirauponga vein system represents the promising future for OceanaGold. The recent drilling has markedly increased the indicated resource to approximately 2.4 million tonnes, grading an impressive 17.9 g/t Au for an estimated 1.4 million ounces of gold. The inferred resource category also reflects a substantial volume, grading 9.8 g/t Au and totaling 1.9 million tonnes.

As this development unfolds, communities in the Coromandel region are anticipated to reap significant socio-economic benefits, including direct job creation and increased local investment opportunities. OceanaGold is committed to maintaining the highest environmental and operational standards, which underline their legacy of responsible mining practices in New Zealand.

The current endeavor aligns with the company's broader strategic plans, reinforcing its objectives of resource growth and sustainable development in the critical mining sector. With an expected timeline promoting a fully permitted WNP bylate 2025 and major underground mining work anticipated to kick off in 2026, OceanaGold is firmly on track to unlock the full potential of the Wharekirauponga site.

In conclusion, OceanaGold's latest updates signal an invigorating chapter not only for the company but also for the region, heralding a new era of sustainable mining operations and regional prosperity. Stakeholders and local communities alike can look forward to the continued exploration, development, and economic benefits that the Waihi North Project promises to deliver in the coming years.