TORONTO, Oct. 19, 2017 /PRNewswire/ - New Gold Inc. ("New
Gold") (TSX:NGD) (NYSE American:NGD) is pleased to report that its
Rainy River Mine has achieved commercial production, approximately
two weeks ahead of schedule.
"Achieving commercial production is a major milestone for New
Gold and the Rainy River team," stated Hannes Portmann, President and Chief Executive
Officer. "With the hard work, dedication and commitment of our
workforce, and the strong support of our local communities and
Indigenous partners, we are now focused on continuing to
successfully ramp up the operation through the balance of the
year."
As previously announced, the Rainy River Mine began processing
ore as scheduled on September 14,
2017, and announced its first gold pour on October 6, 2017. In the first 30 days of
operation, Rainy River has successfully processed
approximately 457,000 tonnes of ore. Inclusive of four days of
intentional downtime as part of the commissioning plan, the
processing rate averaged 15,200 tonnes per day, or 72% of the
21,000 tonnes per day nameplate capacity. New Gold defines
commercial production as exceeding 60% of nameplate capacity over a
30-day period. Importantly, for the period October 1-18, 2017, the processing rate averaged
19,000 tonnes per day, or 90% of nameplate capacity. To date, both
grade and recoveries have also been consistent with New Gold's
commissioning plan.
About New Gold Inc.
New Gold is an intermediate gold mining company with a portfolio
of five producing assets in top-rated jurisdictions. The New Afton
and Rainy River Mines in Canada,
the Mesquite Mine in the United
States, the Peak Mines in Australia and the Cerro San Pedro Mine in
Mexico (which transitioned to
residual leaching in 2016), provide the company with its current
production base. In addition, New Gold owns 100% of the Blackwater
project located in Canada. New
Gold's objective is to be the leading intermediate gold producer,
focused on the environment and social responsibility. For further
information on the company, please visit www.newgold.com.
Cautionary Note Regarding Forward-Looking Statements
This news release may contain "forward-looking statements" and
"forward-looking information" within the meaning of applicable
Canadian and U.S. securities legislation. Generally,
forward-looking statements can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that may cause the actual results, level of
activity, performance or achievements of New Gold to be materially
different from those expressed or implied by such forward-looking
statements, including but not limited to risks discussed in the
risk factors section in New Gold's latest annual information
form. Although New Gold has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on
forward-looking statements. New Gold does not undertake to update
any forward-looking statements, except in accordance with
applicable securities laws.
SOURCE New Gold Inc.