FACT BOOK

2015
POSITIONED
FOR
GROWTH
Cautionary Statement Regarding Forward-looking
Information
Certain information and statements within this Fact
Book may be deemed as ‘forward-looking statements’
or ‘forward-looking information’ within the meaning of
applicable securities laws. All statements in this Fact Book,
other than statements of historical fact, which address
events or developments the Company expects to occur,
are ‘forward looking statements’ or ‘forward-looking
information. ‘Forward looking’ statements or information
may include, but are not limited to, statements with
respect to the future financial and operating performance
of the Company, its subsidiaries and affiliated companies,
its mining projects, outcome of the Pacific Rim arbitration
as described in the Company’s Annual Information Form
for the year ended 31 December 2014, the future price
of gold, the estimation of mineral reserves and mineral
resources, the realisation of mineral reserves and resource
estimates, costs of production, estimates of initial capital,
sustaining capital, operating and exploration expenditures,
costs and timing of the development of new deposits, costs
and timing of the development of new mines, costs and
timing of future exploration and drilling programs, timing
of filing of updated technical information, anticipated
production amounts, requirements for additional capital,
governmental regulation of mining operations and
exploration operations, timing and receipt of approvals,
consents and permits under applicable mineral legislation,
environmental risks, title disputes or claims, limitations of
insurance coverage and the timing and possible outcome
of pending litigation and regulatory matters. Often, but
not always, forward-looking statements and information
can be identified by the use of words such as ‘may’, ‘plans’,
‘expects’, ‘projects’, ‘is expected’, ‘budget’, ‘scheduled’,
‘potential’, ‘estimates’, ‘forecasts’, ‘intends’, ‘targets’, ‘aims’,
‘anticipates’ or ‘believes’ or variations (including negative
variations) of such words and phrases, or may be identified
by statements to the effect that certain actions, events
or results ‘may’, ‘could’, ‘would’, ‘should’, ‘might’ or ‘will’ be
taken, occur or be achieved.
Forward-looking statements and information involve
known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or
achievements of the Company and/or its subsidiaries
and/or its affiliated companies to be materially different
from any future results, performance or achievements
expressed or implied by the forward-looking statements.
Such factors include, among others, future prices of
gold; general business, economic and market factors
(including changes in global, national or regional financial,
credit, currency or securities markets), changes or
developments in global, national or regional political and
social conditions; changes in laws (including tax laws) and
changes in GAAP or regulatory accounting requirements;
the actual results of current production, development
and/or exploration activities; the outcome of any pending
litigation and regulatory matters; the ability to obtain
Cover image: Aerial view of Didipio operations, Philippines.
02
required consents, permits or approvals; conclusions of
economic evaluations and studies; fluctuations in the value
of the United States dollar relative to the Canadian dollar,
the Australian dollar, the Philippines Peso or the New
Zealand dollar; changes in project parameters as plans
continue to be refined; possible variations of ore grade or
recovery rates; failure of plant, equipment or processes
to operate as anticipated; accidents, labour disputes and
other risks of the mining industry; impacts arising from
natural disasters, including extreme weather events;
political instability or insurrection or war; labour force
availability and turnover; adverse judicial decisions; delays
in obtaining financing or governmental approvals, or in
the completion of development or construction activities,
or in the commencement of operations; as well as those
factors discussed in the section entitled ‘Risk Factors’ in the
Company’s Annual Information Form for the year ended
31 December 2014 available on SEDAR at www.sedar.com
under the Company’s name. Readers are cautioned that
the foregoing list of factors is not exhaustive. Although
the Company has attempted to identify important factors
that could cause actual actions, events or results to
differ materially from those described in forward-looking
statements and information, there may be other factors
that cause actual results, performance, achievements
or events to differ from those anticipated, estimated or
intended. Also, many of the factors are outside or beyond
the control of the Company, its officers, employees, agents
or associates. Forward-looking statements and information
contained herein are made as of the date of this Fact Book
and, subject to applicable securities laws, the Company
disclaims any obligation to update any forward-looking
statements and information, whether as a result of new
information, future events or results or otherwise. There
can be no assurance that forward-looking statements and
information 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 and
information due to the inherent uncertainty therein.
All forward-looking statements and information made
herein are qualified by this cautionary statement. This
Fact Book may use the terms ‘Measured’, ‘Indicated’
and ‘Inferred’ Resources. United States investors are
advised that while such terms are recognised and required
by Canadian regulations, the Securities and Exchange
Commission does not recognise them. ‘Inferred Resources’
have a great amount of uncertainty as to their existence
and as to their economic and legal feasibility. It cannot
be assumed that all or any part of an Inferred Resources
will ever be upgraded to a higher category. Under Canadian
rules, estimates of Inferred Resources may not form
the basis of feasibility or other economic studies. United
States investors are cautioned not to assume that all or
any part of Measured or Indicated Resources will ever be
converted into reserves. United States investors are also
cautioned not to assume that all or any part of an Inferred
Resource exists, or is economically or legally mineable. This
OceanaGold Fact Book 2015
document does not constitute an offer of securities for sale
in the United States or to any person that is, or is acting
for the account or benefit of, any United States person (as
defined in Regulation S under the United States Securities
Act of 1933, as amended (the ‘Securities Act’)) (‘United
States Person’), or in any other jurisdiction in which such
an offer would be unlawful.
Cautionary Notes regarding Technical Information
The estimates of mineral resources and reserves contained
in this Fact Book were prepared in accordance with the
standards set out in the Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves
dated December 2012 (the ‘JORC Code’) and in accordance
with National Instrument 43-101 of the Canadian
Securities Administrators (‘NI 43-101’). The JORC Code
is the accepted reporting standard for the Australian
Stock Exchange Limited (‘ASX’) and the New Zealand
Stock Exchange Limited (‘NZX’). The El Dorado property
used the CIM Standard for resource estimates.
Unless stated otherwise, in respect of the mineral projects
of the Company referred to in this Fact Book, the scientific
and technical information (including disclosure regarding
mineral resources and mineral reserves) is based upon
the following NI 43-101 compliant technical reports
(collectively, the ‘Technical Reports’):
(a) ‘Technical Report for the Macraes Project located in
the Province of Otago, New Zealand’ dated February
12, 2010, prepared by R. Redden, Development and
Technical Services Manager, and J.G. Moore, Group
Mine Geology Manager, both of OceanaGold (New
Zealand) Limited (the ‘Macraes Technical Report’);
(b) ‘Technical Report for the Reefton Project located in
the Province of Westland, New Zealand’ dated May
24, 2013, prepared by K. Madambi, Technical Services
Manager and J. G. Moore, Chief Geologist, both of
OceanaGold (New Zealand) Limited (the ‘Reefton
Technical Report’); and
(c) ‘Technical Report for the Didipio Gold / Copper
Operation Luzon Island’ dated October 29, 2014,
prepared by Simon Griffiths, General Manager of
Studies, Jonathan Moore, Chief Geologist, both of
OceanaGold (New Zealand) Limited, and Michael
Holmes, Chief Operating Officer of OceanaGold
Corporation (the ‘Didipio Technical Report’).
Simon Griffiths, Knowell Madambi and Jonathan Moore
are full-time employees of the Company’s subsidiary,
OceanaGold (New Zealand) Limited. Michael Holmes is a
full-time employee of OceanaGold Corporation. Rod Redden
was a full time employee of OceanaGold (New Zealand)
Limited until February 2012. The Technical Reports
have been filed with the Canadian securities regulatory
authorities and are available for review at www.sedar.com
under the Company’s profile.
For further information regarding the El Dorado property,
reference should be made to the following NI 43-101
technical report which has been filed and is available at
sedar.com under the name of Pacific Rim Mining Corp.:
‘Technical Report Update on the El Dorado Project Gold
and Silver Resources, Department of Cabanas, Republic
of El Salvador’ dated March 3, 2008, prepared by Steven
Ristorcelli and Peter A. Ronning of Mine Development
Associates.
The El Dorado resource estimate referred to herein
was prepared by Mr. Steven Ristorcelli, C.P.G, of Mine
Development Associates, Reno, Nevada (who is an
independent Qualified Person as defined in NI 43-101) and
conforms to current CIM Standards on Mineral Resources
and Reserves. Mr Ristorcelli is a Registered Professional
Geologist in the states of California and Wyoming and
a Certified Professional Geologist with the American
Institute of Professional Geologists.
Where the mineral reserve and mineral resource estimates
of the Company’s Reefton, Macraes and Didipio operations
set out in this Fact Book differ from those set out in the
Technical Report for the relevant property, such differences
arise from updates to such mineral reserve and mineral
resource estimates as a result of either depletion through
production, addition due to exploration activities or revised
economic assumptions. The latest updates of mineral
reserves for each of the Company’s New Zealand projects
were prepared by, or under the supervision of, K. Madambi,
while the mineral reserves for Didipio were prepared under
the supervision of M. Holmes. The updates of mineral
resources for the Didipio project were prepared by, or
under the supervision of, J. G. Moore, while the updates of
mineral resources for Macraes and Reefton were updated
by S. Doyle. M. Holmes, K. Madambi, J. G. Moore and S.
Doyle are Members and Chartered professionals with
the Australasian Institute of Mining and Metallurgy and
each is a ‘qualified person’ for the purposes of NI 43-101.
S. Doyle is also a member of the Australian Institute of
Geoscientists. All such persons are ‘qualified persons’ for
the purposes of NI 43-101 and have sufficient experience
relevant to the style of mineralisation and type of deposit
under consideration and to the activity which they are
undertaking to qualify as a ‘competent person’ as defined
in the JORC Code. Messrs Moore, Madambi, Doyle and
Holmes consent to inclusion in this Fact Book of the
matters based on their information in the form and context
in which it appears. The estimates of mineral resources
and reserves contained in this Fact Book are based on, and
fairly represent, information and supporting documentation
prepared by the named qualified and competent persons.
OceanaGold has adopted United States dollars (USD) as
its presentation currency. The financial information is
presented in USD and all numbers in this document are
expressed in USD unless otherwise stated.
 Contents

The Business at a Glance 04

OceanaGold at a Glance 06
OceanaGold Overview 07
Chairman’s Letter 08
Chief Executive Officer’s Letter 09
Vision, Values and Strategy 10
Value Proposition 11
Operating Summary 12
Company History 13

Operations and Projects 14

Didipio Overview and Facts 17
Didipio Optimisation Study 18
Didipio Processing 20
Financial or Technical Assistance Agreement (FTAA) 21
Macraes Open Pits 22
Frasers Underground 24
Reefton Goldfield – New Zealand 26
Processing – New Zealand 28
El Dorado Project – El Salvador 30
Project Development and Exploration 31
Reserves and Resources 32
Sustainability 34

Financials and Investor Information 36

Five Year Financial Summary 38
Operating Costs 39
Capital Expenditure and Liquidity 40
Share Information 41
Our Team 42
Glossary 44
Key Investor Dates 46
Corporate Directory 47
Offices
Projects
Operations

OceanaGold Fact Book 2015 03

Didipio process plant, Philippines.

04 OceanaGold Fact Book 2015

The Business at a Glance

LOW-COST, MULTINATIONAL,
MID-TIER GOLD PRODUCER

OceanaGold Fact Book 2015 05

OceanaGold at a Glance

El Dorado
Didipio Macraes Frasers Reefton Project
Year in operation 2013 1990 2008 2007 -
Mine life 2030 2017+ 2016+ end of 2015 -
Nominal production
Gold (koz) 100 90 – 110 40 – 50 50 – 60 -
Copper (kt) 14 - - - -
No. of employees 533 250 175 185 32
No. of contractors 1,233 60 10 26 13

Philippines
Mineral Reserves Gold (Moz) Silver (Moz) Copper (Mt) El Salvador
Didipio 1.70 3.58 0.21
Macraes 1.17 - -
Reefton 0.16 - -
Total 3.02 3.58 0.21

Mineral Resources Gold (Moz) Silver (Moz) Copper (Mt)

Measured and 7.82 13.8 0.24
Indicated
Inferred 4.1 2.5 0.04 New Zealand
Total 11.92 16.3 0.28

Luzon
Didipio Mine Reefton Open Pit Auckland
El Dorado
Macraes Open Pit
Manila Frasers Underground

San Salvador
Wellington

Christchurch
Mindanao

Dunedin

06 OceanaGold Fact Book 2015

OceanaGold Overview

2014 Highlights OceanaGold Today Financial Snapshot

• Exceeded production guidance. OceanaGold Corporation is an emerging Year ended 31 December 2014 2013 2012 2011 2010
• Achieved cost guidance. multinational gold and copper producer Revenue US$m 563.3 553.6 385.4 395.6 305.6
with over 24 years of operating sustainably
• Reported record revenue of EBITDA1 US$m 239.8 262.4 144.6 163.9 139.5
in New Zealand and more recently the
$563.3 million and net profit Philippines. Its flagship operation is Operating profit US$m 109.3 135.2 53.1 78.5 71.8
of $111.5 million. the Didipio Mine located in the northern Earnings before income tax1 US$m 99.0 106.1 31.7 65.2 55.4
• Reduced debt by $77.4 million. Philippines, which commenced commercial
Net earnings before impairment US$m 112.2 92.8 20.7 44.2 44.4
production on 1 April 2013 and has a
• Increased cash to $51.2 million. Net earnings/(loss) US$m 111.5 (47.9) 20.7 44.2 44.4
current mine life to 2030. In New Zealand
• Declared annual dividend of on the South Island, OceanaGold operates Diluted earnings/(loss) per share US$ 0.36 (0.16) 0.08 0.17 0.20
$0.04 per share for 2014. the country’s largest gold operation at
the Macraes Goldfield and the Reefton Cash and cash equivalents US$m 51.2 24.8 96.5 170.0 181.3
• Received safest mining operation
award in the Philippines. Gold Mine on the west coast. Gold produced oz 307,463 325,732 232,909 252,499 268,602

• Received ISO 14001 Environmental Gold sold 2

oz 318,972 308,081 230,119 249,261 268,087
OceanaGold has an unwavering commitment
Management System certification to the environment and to the host Average gold price received US$/oz 1,273 1,382 1,675 1,587 1,140
for the Didipio operation. communities in which it operates in and Copper produced tonnes 25,010 23,059 - - -
• Received the Presidential Mineral works collaboratively with its valued
Copper sold 2
tonnes 25,886 21,290 - - -
Industry Environment Award – Stakeholders to create opportunities, build
Platinum Achievement in the Philippines capacity and leave a positive, long-lasting Average copper price received US$/lb 3.11 3.23 - - -
for Didipio operation’s outstanding legacy well beyond the mining life cycle. Cash operating cost 3
US$/oz 418 426 940 875 570
environmental performance. All-In Sustaining Costs3 US$/oz 785 868 - - -
In 2015, the Company expects to produce
295,000 to 335,000 ounces of gold from 1. Excluding gain/(loss) on undesignated hedges and non-cash impairment charge.
2. Includes Didipio Q1 2013 pre commercial production of 2,791 ounces of gold and 1,549 tonnes of copper sold.
the combined New Zealand and Didipio 3. Net of by-product credits based on ounces of gold sold and includes the Didipio nine-month period of commercial
operations and 21,000 to 23,000 tonnes production in 2013.
of copper from the Didipio operations.
2014 Guidance 2014 Actuals
OceanaGold is listed on the Toronto, Consolidated Didipio New Zealand Consolidated
Australian and New Zealand stock Gold production oz 275,000 – 106,256 201,207 307,463
exchanges under the symbol OGC. 305,000
Copper production t 21,000 – 25,010 - 25,010
24,000
‘OceanaGold’s flagship asset Didipio is one Gold sales oz - 110,510 208,462 318,972

of the lowest cost gold mines globally.’ Copper sales t - 25,886 - 25,886
Cash costs $/oz 400 – 4501 (420)1 862 4181
All-In Sustaining Costs2 $/oz 750 – 8501 (103)1 1,255 7851
1. Net of by-product credits.
2. All-In Sustaining Costs (AISC) based on World Gold Council methodology; expansionary and growth capital expenditures
are excluded from the AISC.

OceanaGold Fact Book 2015 07

Chairman’s Letter
To our Stakeholders
Welcome to the 2015 edition of our
Fact Book, where we look back at another
strong year of financial and operational
performance for the Company.
Having been Chairman of OceanaGold
since 2007, I am proud that the vision
we had back then to see this Company
transform itself into a multinational
gold producer with a breadth of operations
and development experience has been
achieved. We have been an outperforming
gold company in recent years.
Much of this success can be attributed
to our people. They live our values and
forge strong, respectful and collaborative
relationships with the communities in
which we operate. These qualities are
essential to our aim of successfully
growing OceanaGold in other jurisdictions.
‘Having been Chairman of OceanaGold since 2007, I am proud that
the vision we had back then to see this Company transform itself
into a multinational gold producer with a breadth of operations
and development experience has been achieved.’
08 OceanaGold Fact Book 2015
In the first full year of operations
at Didipio, our team delivered strong
results. The operations produced record
numbers and our social licence was
further enhanced. The project development
team delivered a new, optimised design
and plan for the operation. In addition,
it successfully completed the ramp-up
of the process plant from nameplate
2 Mtpa to 3.5 Mtpa.
Our New Zealand operations continued
to perform well, despite the gold price
continuing to retrace lower. The support
we have from our employees, the local
communities and government has enabled
us to successfully operate in one of the
more environmentally sensitive countries
on the planet.
In El Salvador, we continue to work
closely with our in-country Stakeholders
to educate them on modern underground
mining and the benefits associated with
responsible, sustainable mining
development and operations.
The Company delivered record earnings
in 2014. The Board thus endorsed the
establishment of a shareholder dividend
policy, designed to provide a sustainable
return to shareholders while allowing
the Company to continue to invest in
new, value-creating opportunities.
OceanaGold is now an established mid-tier
gold miner. We efficiently build and operate
mines in a variety of geological and social
settings, to standards that aim at global
best practice. Each member of the
OceanaGold family is focused on this.
On behalf of the Board of Directors, I
thank you for your continued support.
Jim Askew
Chairman
Chief Executive Officer’s Letter
Dear OceanaGold Stakeholders
I am pleased to introduce our latest
Fact Book covering our performance
in 2014 and plans for the future.
Last year was another challenging year
for the gold sector with persistently low
commodity prices, uncertainty and a
large degree of volatility. It was against
this economic reality that OceanaGold
delivered record financial and operating
results and continued its transformation
into an emerging multinational mid-tier
gold producer. In a year where gold
equities delivered negative returns,
OceanaGold outperformed, delivering
strong shareholder returns and raising
the economic and social benefits to the
communities in which we operate in.
‘I expect another 2014 was another solid year with respect
to our health and safety, environment
strong year of financial and community activities. Pleasingly, our
and operational safety performance across the Company
continues to improve with the number of
performance for the injuries decreasing year on year for the
past four years. Safety is a journey with
Company in 2015. no end in sight and progress is measured
Production is expected by continued effort towards zero harm.
That is our lofty goal. Our continued
to rise, as are profits efforts to improve our environmental
performance were demonstrated by the
and operating margins.’ successful implementation of the water
treatment plant at Didipio. In addition,
we are very focused on leaving a positive
legacy at Reefton as we head toward
care and maintenance of that operation.
In addition, we continued to demonstrate
our commitment to our communities
OceanaGold Fact Book 2015
through investments in programs designed
to provide opportunities, build capacity
and leave a positive, long-lasting legacy
beyond the mining life cycle.
We successfully ramped-up the process
plant at Didipio to the planned 3.5 Mtpa
throughout rate on time and to plan.
This is a very credible achievement which
demonstrates the strong technical and
management capabilities of the group.
During the year, we also completed the
Didipio optimisation study which resulted
in a new, more robust mine plan that
added considerable value to the asset
and therefore our shareholders. This
was another very strong achievement
by our projects and operating teams.
In New Zealand, we successfully
completed the Blackwater Preliminary
Economic Assessment (PEA) which
demonstrated an economically attractive
project. The results from the PEA give us
confidence to move forward, evaluating
mining and processing options before
committing to the Project which has the
potential to create significant value for
the Company. As with all of our assets,
we remain committed to unlocking organic
value through innovative, best practice
technical evaluation and execution.
Operationally, the Company exceeded
its production guidance on the back of
record production from Didipio and
steady production from New Zealand. We
continued to consolidate our position as a
low cost producer. Despite low commodity
prices, we generated significant free cash
flow on the back of record revenues and
net earnings. The cash generated from the
business was used to further strengthen
our balance sheet by increasing our cash
position while reducing our gearing to 7%.
Reducing our debt position enabled us to
implement a dividend policy designed to
pay a sustainable dividend with potential
to grow. I believe that paying a dividend
is a tenet of any good company, including
gold mining companies, and I see this as a
very significant milestone in the evolution
of our Company.
I expect another strong year of financial
and operational performance for the
Company in 2015. Production is expected
to rise, as are profits and operating
margins. Our technical teams continue to
evaluate options for unlocking value from
our existing assets, and looking for value
accretive opportunities in the market.
As a Company, we are in a very strong
position and will continue to execute
on our strategy of delivering strong
shareholder returns and investing in
high quality opportunities that are
accretive to shareholders.
Thank you for your continued support.
Mick Wilkes
Managing Director and
Chief Executive Officer
March 2015
09
Vision, Values and Strategy
OceanaGold Vision
WE WILL BE A MID-TIER,
MULTINATIONAL GOLD PRODUCER
DELIVERING SUPERIOR
SHAREHOLDER RETURNS
IN A SAFE AND SUSTAINABLE
MANNER BY DEVELOPING
AND OPERATING HIGH
QUALITY GOLD ASSETS.
We will be the partner, employer
and mining company of choice.
We are a values-based organisation
and will achieve this through:
• World-class skills in operational
efficiency, mine design optimisation
and converting opportunities.
• Being the partner and employer of
choice with a clear focus on safety,
environment, employees, communities
and government.
• Maintaining a strong balance sheet
with low debt, strategic capital
allocation and a strong investor base.
Macraes Trout Hatchery, New Zealand.
10
Strategy
Our Values The Company is focused on maximising the profitability of its current assets while
operating to the highest health, safety, and environment and community standards.
• RESPECT The Company is focused on increasing gold and copper production through optimisation
• INTEGRITY of its existing assets and through low-cost investment in organic growth opportunities.
The Company will continue to leverage 24 years of operating experience and its breadth
• TEAMWORK of technical and social experience to identify new value creating opportunities in the
• INNOVATION Asia-Pacific and Americas regions.
• ACTION
• ACCOUNTABILITY Additionally, the Company will:
• f ocus on increasing productivity and identifying efficiencies at its Didipio Mine
in Luzon, Philippines;
• focus on maximising profitability to ensure a sustainable business in New Zealand;
• continue to strengthen its balance sheet;
• invest in high quality, low-cost reserves through judicious capital spending; and
• w
ork collaboratively with its valued Stakeholders in the Philippines, New Zealand
Our Motto and El Salvador and its diverse group of shareholders.
INNOVATION
PERFORMANCE
GROWTH
OceanaGold Fact Book 2015
Value Proposition
Emerging, Multinational
Mid-tier Gold Producer
Low-cost Producer
• Sector leading All-In Sustaining Costs.
• Operating one of the lowest cost
gold mines globally at Didipio.
Generating Significant
Free Cash Flow
• Generated over $105 million
in free cash flow in 2014.
• Expect to generate similar levels
for the next several years.
Dividend Paying Gold Company
• Announced maiden dividend in early
2015 despite lower commodity prices.
• Sustainable dividend of $0.02/share +
discretionary paid annually.
Over 24 Years of Operations
and Development Experience
• Strong Board and management team
with extensive experience in socially
complex jurisdictions.
• Strong technical base through long,
rich history of operational success
in New Zealand.
Strong Social Licence to Operate
• Proven track record of operating
sustainably in environmentally and
socially sensitive countries.
• Significant investments in community
programs that provide opportunities
and builds capacity not dependency
beyond the mine life cycle.
OceanaGold Fact Book 2015 11
Operating Summary

Strong operating performance driven by Financial Statistics1 2014 2013 2012 2011 2010 2009
one of the lowest cost operations globally Gold sales (ounces) 318,972 308,081 230,119 249,261 268,087 300,044
at Didipio where in 2014, the operation
Copper sales (tonnes) 25,886 21,290 - - - -
achieved record production and increased
Average gold price received (US$ per ounce) 1,273 1,382 1,675 1,587 1,140 790
throughput rates to an annualised rate
of 3.5 Mtpa. Average copper price received (US$ per pound) 3.11 3.23 - - - -
Cash operating cost1,2 (US$ per ounce) 418 426 940 875 570 411
OceanaGold’s producing assets are Cash operating margin (US$ per ounce) 855 956 735 712 570 379
Didipio, located on the island of Luzon All-In Sustaining Costs1,2 (US$ per ounce) 785 868 - - - -
in the Philippines, the Macraes (Open
pits and Frasers Underground) and the New Zealand Operating Statistics 2014 2013 2012 2011 2010 2009
Reefton Open Pit Mine, located on the Gold produced (ounces) 201,207 259,455 232,909 252,499 268,602 300,391
South Island of New Zealand. Total ore mined (tonnes) 4,389,736 8,650,072 6,872,686 8,103,693 7,905,464 6,258,806
Ore mined grade gold (grams/tonne) 1.39 1.31 1.34 1.21 1.43 1.85
Total waste mined includes pre-strip (tonnes) 23,767,522 56,544,293 54,580,473 59,176,017 57,643,657 61,087,834
Mill feed (tonnes) 7,100,328 7,290,217 7,462,375 7,588,354 7,081,488 6,913,713
Mill feed grade gold (grams/tonne) 1.06 1.35 1.20 1.25 1.45 1.68
Recovery gold (%) 82.9 81.3 81.0 82.9 81.6 80.0

Didipio Operating Statistics 2014 2013 2012 2011 2010 2009

Gold produced (ounces) 106,256 66,277 - - - -
Copper produced (tonnes) 25,010 23,059 - - - -
Total ore mined (tonnes) 8,380,658 8,787,878 - - - -
Ore mined grade gold (grams/tonne) 0.65 0.58 - - - -
Ore mined grade copper (%) 0.54 0.58 - - - -
Total waste mined includes pre-strip (tonnes) 16,975,568 14,398,928 - - - -
Mill feed (tonnes) 3,111,516 2,578,295 - - - -
Mill feed grade gold (grams/tonne) 1.19 0.94 - - - -
Mill feed grade copper (%) 0.86 0.98 - - - -
Recovery gold (%) 89.5 83.0 - - - -
Recovery copper (%) 93.7 91.5 - - - -
1. Didipio Mine commenced commercial production on 1 April 2013. In the first quarter of 2013, prior to commercial production, 2,791 ounces of gold and 1,549 tonnes of copper were sold
from the Didpio Mine, which is included in the gold and copper sold statistics. For cash cost calculation purposes, the revenue received for this period was netted off against capitalised
development costs and therefore excluded from the cash cost calculation.
2. Net of by-product credits.

12 OceanaGold Fact Book 2015

 Company History

2007
OceanaGold Corporation
1990 1999 2005 listed on TSX.
1991 2003 2006
Macraes Mining Reefton Goldfield
Pressure oxidation and 2004 Two millionth ounce Reefton Open Pit Mine
autoclave facility Oceana Gold Ltd of gold poured from Merger with commissioned.
Company Limited acquired from CRA Oceana Gold Ltd Climax Mining.
commissioned at incorporated. Macraes Open Pit Flotation cells commissioned
commenced gold Limited. listed on ASX
Macraes, only one of Mine. Didipio Gold-Copper at Macraes, the largest
production at and NZX.
three in the southern Project acquired. of this type operating
Macraes.
hemisphere. in the world.

2014
2008 2012 2013 Achieved record gold
Frasers Underground 2009 2010 2011 Didipio Mine Didipio Mine production at Didipio.
Mine commissioned. construction
Record gold Macraes three Didipio Mine commenced commercial Four millionth ounce
Didipio placed under production for millionth ounce completed and production in April. of gold poured from
construction
care and maintenance New Zealand of gold poured. first concentrate New Zealand operations.
recommenced El Dorado in
following Global Financial operations produced in
in June. El Salvador acquired. Declared annual
Crisis. (300,000 oz). December.
Record gold production. dividend (in 2015).

OceanaGold Fact Book 2015 13

Operations and Projects

LEVERAGING OUR SIGNIFICANT

TECHNICAL EXPERIENCE IN OPERATING
HIGH-QUALITY ASSETS

Progressive rehabilitation in the Macraes Goldfield, New Zealand.

14 OceanaGold Fact Book 2015

OceanaGold Fact Book 2015 15
Operational Statistics Resources

2.37
Q4 Q3 Q2 Q1 Year Year
2014 2014 2014 2014 2014 20131 Nominal gold production

100,000
Lost time injuries 1 0 1 0 2 0
Gold production oz 34,783 26,207 14,786 30,480 106,256 66,277 Moz Gold
Copper production t 6,747 7,078 4,706 6,479 25,010 23,059

0.28
Total ore mined Mt 2.52 2.79 1.40 1.67 8.38 8.79 (ounces)
Total waste mined Mt 4.06 3.79 4.68 4.44 16.98 14.40
Ore mined grade gold g/t 0.70 0.60 0.47 0.83 0.65 0.58
Ore mined grade copper % 0.54 0.52 0.48 0.61 0.54 0.58 Mt Copper
Mill feed Mt 0.87 0.85 0.64 0.75 3.11 2.58
Mill feed grade gold g/t 1.39 1.09 0.80 1.40 1.19 0.94
Mill feed grade copper % 0.83 0.90 0.79 0.90 0.86 0.98
Recovery gold % 90.20 88.30 89.40 90.20 89.50 83.00
Recovery copper % 93.80 92.30 93.30 95.40 93.70 91.50
1. Operating statistics at Didipio before 1 April 2013 were pre-commercial production. Reserves

Nominal Copper Production

1.70
14,000 Moz Gold

(tonnes)
0.21
Mt Copper

One of the

LOWEST COST Current mine life

GOLD MINES
GLOBALLY
2030
Didipio Open Pit operation, Philippines.

16 OceanaGold Fact Book 2015

Didipio Overview and Facts
The Didipio Mine is one of the lowest
cost gold mines globally with negative
All-In Sustaining Costs achieved in 2014
on the back of record gold and copper
production in its first full year of
commercial operations. Didipio is a
high-grade gold-copper mine located
on the island of Luzon, approximately
270 kilometres north of Manila in the
Philippines.
In 2014, the Company continued to
successfully ramp-up the process
plant through debottlenecking
activities including the installation and
commissioning of a pebble crusher. By
the end of 2014, the Didipio process plant
was operating at an annualised throughput
rate of 3.5 Mtpa, 40% above than its
nameplate capacity. Also in 2014, the
Company completed the optimisation
study for the operation whereby the open
pit design was significantly reduced in
size while the underground portion of
the operation was expanded vertically,
allowing for earlier access to very
high-grade material beneath the pit.
In 2014, Didipio achieved record annual
gold and copper production and record
quarterly gold production in the fourth
quarter. For the full year, Didipio achieved
cash costs net of by-product credits
of negative ($420) per ounce sold and
All-In Sustaining Costs net of by-product
credits of negative ($103) per ounce sold.
The Didipio Mine 2014 co-product
AISC was $672 per ounce of gold
sold on 242,242 gold equivalent
ounces produced.
Didipio Operation Facts
Open Pit
• Conventional drill and blast.
• Remaining strip-ratio of 2.7:1.
• 220 metre deep open cut down
to an elevation of 2,460 mRL.
• Open pit mining will be completed
in late 2017.
• Estimated 20 million tonnes of stockpile
ore by end of open pit mining.
• Mining costs of $2.40 to $2.50 per tonne
mined (average over next 4 years).
Underground
• Long-hole open stoping with paste
backfill.
• Decline development commenced
in 2015 at the top of the open pit.
• Production to commence in late 2017.
• Full mining rate of 1.6 Mtpa expected
by 2020 with two underground mining
domains.
• Base level 2,010 mRL (450 metres deep).
• Underground mining costs are forecast
at $27 (was $34) per tonne of ore mined.
Ore Body
Chalcopyrite (sulphide mineral of copper
and iron) and gold are the main economic
minerals in the deposit. Chalcopyrite
occurs as fine-grained disseminations,
aggregates, fracture fillings and stock
work veins, particularly within the vein
zone of alteration. Some bornite (also
a sulphide mineral of copper and iron)
is also present.
OceanaGold Fact Book 2015
The ore body contains a higher concentration
of copper near the surface and hence copper
production in the early years is expected
to be higher than the average life of mine
production and lower in the later years.
Mining
The Didipio gold-copper deposit will be
mined by both open pit and underground
methods. As outlined in the most recent
NI43-101 Technical Report for Didipio
(dated 29 October 2014), the design of
both the open pit and underground mine
has been optimised to deliver enhanced
economics and operational efficiencies.
Under the current mine plan, open pit
mining is expected to operate until the
end of 2017, with most of the ore mined
stockpiled for future processing. The
Company expects to have approximately
20 million tonnes of medium to low-grade
ore stockpiled by the end of 2017.
Development of the underground mining
operation commenced in early 2015
and first ore from the underground
mine is expected to be processed in late
2017. Under the current mine plan, the
underground mining operation is expected
to operate until 2030, however, the ore
body is open at depth and an extension
to the mine life may be possible with
further exploration drilling.
Didipio Mining History
The Didipio area was first recognised
as a gold province in the 1970s, when
indigenous miners from Ifugao Province
discovered alluvial gold deposits in
the region. Gold was mined either by
the excavation of tunnels following
high-grade quartz-sulphide veins or
by hydraulicing in softer, clay-altered
zones. Gold was also recovered by
panning and sluicing gravel deposits in
nearby rivers and small-scale alluvial
mining still takes place. No indications
of the amount of gold recovered have
been recorded. OceanaGold acquired
the Didipio Gold-Copper Project in 2006
through the merger with Climax Mining.
Open pit mining commenced in January
2012. In 2014, the operation completed
Stage 2 of the open pit and continued to
deliver ore from Stages 3 and 4. Towards
the end of 2014, the Company commenced
the Stage 5/6 cutback, the final cutback
of the open pit design.
Open pit mining is contracted out to a local
Filipino third party with certain contractual
obligations to ensure targets for Filipino
training and employment are met. Mining
operations continue to provide competent
waste rock to build out the tailings storage
facility (TSF) lifts. The Company expects
to continue building the TSF lifts over the
next three years to reach the ultimate life
of mine capacity.
17
Didipio Optimisation Study
Didipio Optimisation
• B
rought forward production from
high-grade underground by two
years; now expected in late 2017.
• O
ptimised open pit design resulting in
67 million tonnes of reduced waste.
• L
arger underground mining operations;
increased mining rate to 1.6 Mtpa
(from 1.2 Mtpa).
• P
ost-tax, life of mine free cash flow
of $944 million.
In 2014, the Company completed the
Didipio optimisation study with the release
of an updated NI43-101 Technical Report
dated 29 October 2014. The results of the
study demonstrated enhance economics
and operating efficiencies. The main focus
of the study was to determine the optimal
location of the interface between the open
pit and the underground portion of the
mine design.
As a result of the study, the Company
determined that an optimised design
included the lifting of the 30 metre crown
pillar by 80 metres from (2,380 mRL to
2,460 mRL). The benefits of raising the
crown pillar included earlier mining of
high-grade ore from the underground
mine, increased underground production
and a smaller open pit.
18
As a result of this change, the open pit Didipio Underground Design Cross-section
was reduced in size by 67 million tonnes
of waste and pit shell reconfigured to
fit the geometric structure of the ore
body. The reduced waste mined from the
open pit amounts to a capital savings of
approximately $215 million that would
have been spent between 2018 and 2020.
Through increased resource drilling in
2014, the Company was also able to
extend the underground design at depth
by 170 metres (from 2,180 mRL to
2,010 mRL). By increasing the size of
2,460 mRL
the underground mine, the Company 30m Crown
can now establish two mining domains Pillar
thus increasing the mining rate to
1.6 Mtpa by 2020 (from 1.2 Mtpa).
With these changes, the development of 2,280 mRL
30m Sill
the underground mine commenced in the
Pillar
first quarter of 2015, one year earlier than
originally planned. As a result, production
from the high-grade underground mine is
set to commence in late 2017, two years
earlier than originally planned. Finally, the
open pit mining operation will now conclude 2,070 mRL
Inferred
in late 2017 and open pit stockpiles Resource
supplementing underground mill feed Target 2,010 mRL
for the remainder of the mine life.
Underground mining costs are expected
Measured and Indicated Stopes
to be $26.45 per tonne of ore mined
Sill and Crown Pillars (ore)
compared to $34 per tonne mined under
Inferred Stopes (drilling targets)
the previous design. The resultant changes
to the Didipio Mine design have enhanced
the economics of the operation. The
Company forecasts a post-tax, life
of mine free cash flow of $944 million,
see NI43-101 Technical Report.
OceanaGold Fact Book 2015
Didipio Ore Body Cross-section Original Open Pit Design Optimised Open Pit Design

Limit of
Oxidation
Tunja
Monzonite
New Stage
5 and 6
Pit Designs
Previous
Stage 6
Pit Design
Underground
Mine

AuEq g/t
Dark Dark
Diorite Diorite
After Tax Cash Flow Before Capital Expenditure
Syenite
Bufu

$150 300

$100 200

Aueq Sales (koz)

US$ Million
$50 100

$0 0

($50) -100

($100) -200
2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028
After Tax Cash Flow before Capex Capex Aueq Sales

OceanaGold Fact Book 2015 19

Didipio Processing

Processing Facts on grid power, the Company expects Didipio Processing Plant Flow Sheet
• Conventional SAG/Ball mill grinding to achieve significant annual operating
Run-of-mine

circuit with secondary pebble crusher, cost reductions. Ore

Emergency

gravity circuit, froth flotation and ROM

Feed Cyclone

concentrator. Processing costs are estimated to Bin

Scats
be $9 to $10 per tonne of ore milled on
• Annualised throughput rate of 3.5 Mtpa, average over the next four years inclusive. Pebble
40% above nameplate capacity.
Jaw Crusher Ball Mill Unit Cell
Overheads and site costs include Grizzly
Crusher

• Ball Mill Work Index of 14.6 kW/h. administrative costs associated with
maintaining the site at Didipio, meals,
• 14 x 1.1 MWh diesel power generation;
accommodation, transport and community SAG
Mill 01
connecting to power grid by Q4 2015.
Mill 02 Falcon Barring Furnace Gold Bullion

relations estimated at $8 to $10 per

• Processing cost of $9 to $10 per tonne of ore milled over life of mine.
tonne milled.
In 2012, the Company announced the Rougher/scavengers
Construction of a mineral processing signing of an Offtake Agreement with 36 x 40 m3 ³

facility to the north of the open pit mine
was completed on schedule in the fourth
quarter of 2012. Ore is processed with a
conventional SAG/Ball mill grinding circuit
with a secondary pebble crusher circuit
Trafigura in relation to the sale and
purchase of the concentrate from the
Didipio Mine, with a minimum period of
five years from the start of production.
OceanaGold sells 100% of the Didipio Cleaners
2 x 16 m3 Cleaners

followed by froth flotation for recovery concentrate production to Trafigura 2 x 16 m3 Cleaner-scav

2 x 16 m³3

of gold-copper concentrate. A gravity at competitive terms and conditions,

circuit is incorporated within the grinding
circuit to produce gold bullion on site.
Concentrate is transported by road to the
San Fernando port facilities for export.
including treatment and refining
charges. Trafigura takes delivery of
the concentrate at the port and manages
sea transportation from port to port.
CON
Thickener
Filter

Concentrate Transport

In 2014, the Company completed In 2014, over 92,300 dry metric tonnes Tails
Dam

debottlenecking activities and in the of concentrate produced from Didipio was OSA Stream

fourth quarter achieved an annualised
throughput rate of 3.5 Mtpa, approximately
40% above its nameplate capacity.
The Didipio process plant currently
operates on 14 x 1.1 MWh diesel power
generators. In the second half of 2014, the
Company commenced the construction of
a new power line to connect the process
plant to the national power grid. Once
shipped by Trafigura to smelters in Asia. Auto Sampler
Mass Flow
OceanaGold operates a fleet of 20 trucks
Manual Sample
and manages a contractor fleet of 30
additional trucks that travel 350 kilometres
by road to the San Fernando port located
on the west coast of the island of Luzon.
The Company’s concentrate port, freight
and smelting costs range from $300 to
$325 per dry metric tonnes shipped.

20 OceanaGold Fact Book 2015

Financial or Technical Assistance Agreement (FTAA)

THE DIDIPIO MINE IS HELD
UNDER FTAA #001 BETWEEN
OCEANAGOLD AND THE
PHILIPPINES GOVERNMENT
WHICH ALLOWS FOR 100%
FOREIGN OWNERSHIP OF THE
MINING OPERATIONS. THE
FTAA COVERS AN AREA OF
APPROXIMATELY 128 SQUARE
KILOMETRES IN THE PROVINCES
OF NUEVA VIZCAYA AND QUIRINO.
THERE ARE CURRENTLY SIX SIGNED
FTAAS AND OCEANAGOLD IS THE
FIRST COMPANY TO OPERATE
UNDER SUCH A CONTRACT.
In accordance with OceanaGold’s
FTAA agreement, the Company has a
period of up to five years from the start
of commercial production (1 April 2013)
to recover its pre-operating expenses
and property expenditures from ‘net
revenues’ from the Project area.
Pre-operating expenses includes
development and construction costs
of the mine, payments to claim owners
and landowners, exploration programs,
maintenance of exploration tenement,
feasibility studies, administration of
offices, financing costs and the net
commissioning cost up to commercial
production. It also includes payments
made by predecessor companies.
Should OceanaGold not fully recover
its pre-operating expenses in the five
year period, the Company is entitled to a
depreciation allowance for the outstanding
balance for the subsequent three years.
At the end of the recovery period,
OceanaGold is required to pay the
government 60% of the ‘net revenue’
earned from the Didipio Project.
For the purposes of the FTAA, ‘net revenue’
is generally the gross mining revenue
from commercial production of the mining
operation less deductions for, among
other items, expenses relating to mining,
processing, marketing and mineral
exploration, consulting fees, depreciation
of capital, and certain specified overheads
and interest on loans.
In addition, all taxes paid to the
government, including excise, customs,
sales, corporate taxes and value added
taxes, as well as the 2% net smelter
royalty payments, are also deducted
from the 60% of net revenues that are
payable to the government.
The Company has been granted a six year
corporate tax holiday with a potential
extension for a further two years.

FTAA Net Revenue

‘The FTAA covers an
area of approximately
128 square kilometres
Net revenue calculation
Revenue
Less operating costs
Less depreciation of post development capital expenditure (excluding underground development)
Less underground mine development costs
Less financing costs
= Net revenue (up to five years to recover the initial capex and commissioning costs from net revenue)
Government share (= 60% net revenue post recovery of initial capex)

in the provinces of
Nueva Vizcaya and
Quirino.’
The following items shall be included in the government share:
2% net smelter royalty paid
2% excise duty paid (2% gross sales for gold, 2% copper concentrate)
Corporate tax (current tax rate 30%)
Other taxes (e.g. withholding tax)
8% carried paid (entitles the holder to 8% of equity in the operating vehicle and dividends to be paid once OGC recovers its initial investment)

Further details can be found in the NI 43-101 Technical Report for the Didipio Project dated 29 October 2014, available on the
Company’s website www.oceanagold.com

OceanaGold Fact Book 2015 21

 Macraes Mining History Resources

4.34
Nominal gold production
The Macraes area is a mature
exploration province with the earliest
alluvial mining occurring in 1862. In
1989, the original Macraes tenements
90,000 – Moz Gold
were sold by Golden Point Mining and
BHP Gold Mines (New Zealand) to the
Macraes Mining Company. After a series
of company name changes, OceanaGold
110,000 (ounces) 1.06
Reserves

became the owner in May 2004. In Moz Gold

January 2008, the Frasers Underground
Mine was commissioned.

Produced over

4 million
Current mine life end of

(ounces since 1990)

2017+

Open pit mining costs

$1.50 –
Open pits

FRASERS &
CORONATION $1.60 (per tonne)

Aerial photo of Macraes process plant, New Zealand.

22 OceanaGold Fact Book 2015

Macraes Open Pits

SINCE 1990, OCEANAGOLD AND The open pit mines supply approximately Benches of 7.5 metres are drilled and are Run of Mine (ROM) pad for processing to
ITS PREDECESSOR COMPANIES 2 million tonnes of ore per annum to mined in three 2.5 metre flitches. Mine begin, while waste rock (rock that doesn’t
HAVE OPERATED IN THE MACRAES the process plant, while the Frasers technicians collect samples from the drill contain gold) is hauled to rock stacks,
GOLDFIELD. TODAY, THIS GOLDFIELD Underground Mine supplies a further rig at 2.5 metre vertical intervals, which are designed to blend in with the surrounding
0.9 million tonnes of ore per annum. The dispatched to an on-site laboratory for gold landscape. The average life of mine strip
CONTAINS NEW ZEALAND’S LARGEST
Company supplements the process plant analysis. The mine geologists use the assay ratio is approximately 10 –12:1 however
GOLD PRODUCING OPERATION with low-grade stockpile ore. As at the data in conjunction with geological mapping may fluctuate year on year depending on
AND CONSISTS OF THE FRASERS end of 2014, the Macraes operation had a to create a 3D model of the grade distribution the mine plan and amount of pre-strip
AND CORONATION OPEN PITS AND stockpile of 8 million tonnes grading 0.56 g/t. for each flitch. These models are used to activity.
FRASERS UNDERGROUND MINE The current combined open pits, stockpile delineate areas of ore and waste.
WITH AN ADJACENT PROCESS and underground reserves of 1.17 million At Macraes, average mining costs for the
PLANT INCLUSIVE OF AN AUTOCLAVE ounces of gold support a current mine life Explosives are blasted to loosen the rock open pit is approximately $1.50 – $1.60 per
FOR PRESSURE OXIDATION OF at Macraes extending to the end of 2017. prior to excavation by hydraulic diggers. tonne of ore mined including capitalised
THE ORE. OCEANAGOLD’S MINING With additional drilling planned in 2015, In areas containing gold, ore spotters are pre-stripping.
AND EXPLORATION PERMITS AT the Company is seeking to extend the mine employed to supervise the extraction of
life at Macraes at similar production rates. the ore. Dump trucks haul the ore to the
MACRAES COVER A CONTIGUOUS
AREA OF 15,705 HECTARES. THE
MACRAES OPERATION IS LOCATED Operational Statistics
90 KILOMETRES NORTH OF DUNEDIN Macraes Goldfield operation statistics include Macraes Open Pit and Frasers Underground Mines.
IN THE OTAGO REGION OF NEW
ZEALAND’S SOUTH ISLAND. AS Macraes Goldfield 2014 2013 2012 2011 2010
AT THE END OF DECEMBER 2014, THE Gold produced (ounces) 153,510 198,820 169,609 174,851 182,759
MACRAES GOLDFIELD HAD PRODUCED Total ore mined (tonnes) 2,886,593 6,962,730 5,558,056 6,589,904 6,365,855
4.16 MILLION OUNCES OF GOLD. – Macraes Open Pit 1,950,847 6,081,774 4,830,969 5,742,884 5,446,063
– Frasers Underground 935,746 880,956 727,087 847,020 919,792
Ore mined grade (grams/tonne) 1.44 1.27 1.29 1.07 1.26
Ore Body – Macraes Open Pit 0.92 1.18 1.14 0.90 1.02
The Macraes ore body is located within – Frasers Underground 2.55 1.88 2.24 2.20 2.66
a shallow dipping shear zone, which dips Total waste mined includes pre-strip (tonnes) 10,795,467 38,725,444 36,363,043 44,407,352 43,944,947
15 – 20 degrees to the northeast and Mill feed (tonnes) 5,669,729 5,811,349 5,789,255 5,817,001 5,458,607
has a known strike extent in excess of Mill feed grade (grams/tonne) 1.01 1.30 1.12 1.12 1.28
30 kilometres. Gold is mostly associated Recovery (%) 83.4 81.4 81.1 83.3 81.3
with sulphides, and occurs principally as
microblebs within pyrite and arsenopyrite
grains. This gold is refractory and is Macraes Mining Fleet
not readily recoverable by standard
Mining Fleet Type Quantity Gross Weight (Tonnes) Payload
cyanidation methods.
Excavators 4 180 – 350 21 – 39 tonnes
The Frasers and Coronation pits are Dump trucks 18 318 180 tonnes
the open pits currently being mined. Water trucks 2 59,000 – 130,000 L
In September 2014, the Company Drills 4
commenced mining the Coronation Tracked dozers 4
pit located 5 kilometres due north CAT graders 3
of the process plant. Wheeled dozers 2 69
Loaders 4 18 – 55 7 – 15 tonnes

OceanaGold Fact Book 2015 23

Frasers Underground

FRASERS UNDERGROUND MINE

WAS DEVELOPED TO TARGET
DOWN-DIP EXTENSIONS OF
THE HANGINGWALL SHEAR
MINERALISATION CURRENTLY
BEING MINED IN THE FRASERS
OPEN PIT. THE UNDERGROUND
MINE, WHICH WAS COMMISSIONED
IN JANUARY 2008, IS CURRENTLY
740 METRES BELOW SURFACE AND
200 METRES BELOW SEA LEVEL,
WITH OVER 48 KILOMETRES OF
DEVELOPED TUNNEL DRIVES.
MINING IS FOCUSED ON THE
HIGHER GRADE, UPPER SECTION
OF THE HANGINGWALL SHEAR.
DRILLING FROM A DEDICATED
EXPLORATION DRIVE IS ONGOING
AND CONTINUES TO SUCCESSFULLY
EXTEND MINE LIFE.
Ore Body
The ore body is the down-dip extension
of the Hangingwall Shear and is open
at depth as well as along structurally
lower, sub-parallel shears. Within Panel
2 of the Frasers Underground Mine, the
Hangingwall Shear mineralisation is
typically between 5 and 10 metres thick.
Mining
Mining is performed using retreat long-
hole open stoping. Narrow pillars are
left between the stope voids which are
15 metres wide and up to 200 metres long.
Production stoping is also undertaken
on a second and thinner mineralised
shear, 10 to 20 metres beneath, and
sub-parallel to the Hangingwall Shear.
OceanaGold continues to drill beyond
active mining areas to keep reserves ahead
of the mining phase and has generally
replaced the reserves it has mined every
year though successful exploration.
The main entrance to the mine is a
5.0 metre wide by 6.0 metre high
‘OceanaGold continues
decline that spirals down beside the to drill beyond active
ore at a gradient of 1 vertical metre
per 7 horizontal metres and access mining areas to keep
to the mining areas is by smaller
4.5 metre by 5.0 metre headings.
reserves ahead of the
mining phase and has
Fresh air, at a rate of 220 cubic metres
per second, is brought into the mine via generally replaced the
the decline and is exhausted through a
350 metre long vertical shaft. A nearby
reserves it has mined
escape way shaft has a ladder way that every year though
provides an additional entry/exit point
to the mine. A dewatering station pumps
successful exploration.’
out water up to 17 litres per second.
Other infrastructure underground includes
a refuelling station, emergency shelter,
explosives magazine, pumping stations,
electrical transformers, a lunch room
and small workshops.
Mining costs at the underground mine
are between US$44 to US$45 per tonne
of ore mined.

The operations mines about 900,000

tonnes of ore per year using a highly
mechanised mining fleet of electric/
hydraulic-powered drill rigs, large 50 tonne
dump trucks and tele-remote controlled
loaders that enter the mining stopes that
are prohibited to personnel. A fibre optic
cable linked to the lower levels of the
Frasers Underground Mine allows for
remote bogging from a surface (above
ground) facility when required.

24 OceanaGold Fact Book 2015

 Resources

1.64
Nominal gold production

40,000 – Moz Gold

50,000 (ounces) 0.11

Reserves

Moz Gold

Operation date

Development
2008
+48km Current mine life end of

2016+
(of tunnel drives)

Open pit mining costs

$44 –
Mining method
LONG-HOLE
OPEN
STOPING $45 (per tonne)

Exiting the Frasers Underground Mine, New Zealand.

OceanaGold Fact Book 2015 25

 Reefton Mining History Operation date
Nominal gold production

2007
The Reefton Goldfield is historically
one of New Zealand’s most prolific
gold mining areas, having produced
over two million ounces of gold from
50,000–
underground mining from when gold
was first discovered in the Reefton
area around 1870 until the last large
underground mine closed in 1951.
60,000 (ounces)
Current mine life end of

2015

Open pit Open pit mining costs

GLOBE
PROGRESS
$3.00 –
PIT $3.50 (per tonne)

Resources

1.63
Moz Gold

Reserves

0.16
Moz Gold

Aerial photo of the Reefton Gold Mine, New Zealand.

26 OceanaGold Fact Book 2015

Reefton Goldfield – New Zealand

IN 2007, OCEANAGOLD
COMMISSIONED THE REEFTON
MINE, THE FIRST DEVELOPMENT
FOR THE COMPANY AS IT
TRANSFORMED ITSELF INTO A
MULTI-MINE BUSINESS. SINCE THEN,
THE REEFTON MINE COMPRISED OF
A SERIES OF OPEN PITS DEVELOPED
ALONG A MAJOR REGIONAL SHEAR
STRUCTURE AND ITS OFFSHOOTS,
WITH A COMBINED AREA OF
23,412 HECTARES. IT IS LOCATED
SEVEN KILOMETRES SOUTHEAST
OF THE TOWNSHIP OF REEFTON,
A HISTORIC MINING DISTRICT
IN THE WEST COAST REGION OF
NEW ZEALAND’S SOUTH ISLAND.
The ore zone varies in thickness between
2 metres and 30 metres and exhibits
extensive lateral and vertical continuity.
A variety of ore textures are present.
Typically a central core of quartz breccias
(quartz shoots) is enveloped by black
foliated clay-rich rock, containing clasts
of sheared greywacke, argillite and quartz.
A disseminated arsenopyrite and pyrite
sulphide halo (refractory) surrounds the
sheared core.
Mining
The mining operation consists of the
Globe Progress Open Pit, which includes
the General Gordon ore body. The pit is
mined in various stages. The haul roads
are designed at a 1:9 gradient to reduce
the mining footprint. The topsoil is removed
from disturbed areas and stored for use
during the rehabilitation of the mine.
The ore is drilled for grade control
and blast holes on a 5 metre by 5 metre
pattern using RC drilling techniques.
Additional blast holes are drilled
separately. The ore is then blasted
to 7.5 metres and mined selectively
in 2.5 metre flitches to reduce ore
loss and dilution.
The Reefton operation is expected to
transition into a care and maintenance
phase at the end of 2015, pending a
significant improvement in the gold price.
Through the Reefton operation, the
Company has demonstrated its strong
environmental management practices
by operating the mine in the middle of
a conservation park, which receives a
high amount of rainfall each year.
The Company progressively rehabilitates
land previously used for mining that
will no longer be required. Over the next
several years, the Company will continue
to rehabilitate old waste stacks and
tailings impoundment and operate the
water treatment plant.
Reefton mining costs are approximately
$3.00 to $3.50 per tonne mined.

Ore Body Operating Statistics

Mineralisation is hosted within a complex Reefton Goldfield 2014 2013 2012 2011 2010
network of shears that typically dip at Gold produced (ounces) 47,697 60,635 63,300 77,648 85,843
60 degrees near-surface and shallow to Total ore mined (tonnes) 1,503,143 1,687,342 1,314,630 1,513,789 1,539,609
40 degrees at depth. Underground miners Ore mined grade (grams/tonne) 1.29 1.47 1.56 1.8 2.11
historically worked high-grade quartz Total waste mined includes pre-strip (tonnes) 12,972,055 17,818,849 18,217,430 14,768,665 13,698,710
shoots hosted within these shears.
Mill feed (tonnes) 1,430,599 1,478,349 1,643,120 1,771,353 1,622,881
Proportions of these shoots remain as
Mill feed grade (grams/tonne) 1.26 1.57 1.48 1.67 2.01
high-grade pillars and are recovered
through open pit mining at Globe. The main Recovery (%) 81.1 81.1 80.6 81.4 82.5
focus of the Globe Open Pit, however is
the enveloping network of shearing, which Reefton Mining Fleet
hosts refractory gold within sulphides. Mining Fleet Type Quantity Gross Weight (Tonnes) Payload
Excavators 2 170 – 180 21 tonnes
Dump trucks 11 150 – 250 80 – 130 tonnes
Water trucks 2 23 – 30 16 – 30 kL
Drills 2 22
Tracked dozers 3 50 – 70
CAT graders 2 30
Wheeled dozers 1 47
Loaders 3 18 – 25 5 – 10 tonnes

OceanaGold Fact Book 2015 27

Processing – New Zealand

OCEANAGOLD CURRENTLY
OPERATES TWO PROCESSING
PLANTS IN NEW ZEALAND. AT
MACRAES, THE PROCESSING PLANT
IS SITUATED WITHIN A SHORT
DISTANCE OF MOST OF THE OPEN
PITS AND INCLUDES AN AUTOCLAVE
FOR PRESSURE OXIDATION FOR THE
PROCESSING OF SULPHIDE ORE.
The Macraes processing plant is capable
of treating approximately 6 million tonnes
of ore per annum, which is put through
crushing, grinding, flotation, fine grinding,
pressure oxidation, carbon in leach (CIL),
elution, electro winning and smelting.
Refractory ore requires multistage
Refractory gold concentrate produced
from the Reefton processing plant is
transported 600 kilometres by road,
rail and then road again to Macraes
for treatment through the autoclave
for pressure oxidation and carbon in
cyanide leaching to release the gold.
Without this technology it would be hard
to realise the value as direct leaching
of refractory concentrate to obtain
gold results in very poor recoveries.
The cyanide used in the process is
destroyed chemically utilising the
INCO process prior to being pumped
to the tailings storage facility.
The autoclave operates at pressure
of 3,140 kiloPascals and an average
The end product is a bar of doré bullion, Processing costs for Macraes Open
which is approximately 92% pure weighing Pit and Frasers Underground are
18 – 20 kilograms and containing around approximately US$8 to US$9 per tonne
600 gold ounces. The doré bars are sold of ore milled. Reefton processing costs
and transported to the Perth (Australia) are between US$12 and US$13 per tonne
Mint for further refinement. ore milled and include transportation costs
of approximately $12 per ounce and the
Routine maintenance is carried out Macraes processing charges. Macraes
at the process plants to ensure optimal processes an average of 50,000 tonnes
throughput and efficiency. Sections of Reefton concentrate annually.
of the plant are shut down at different
frequencies and durations to allow
maintenance to be conducted. As a
result, plant utilisation is approximately
95% of the year.
Macraes Processing Plant Flow Sheet
Recleaners 6 X 16 m3 ³

processing to increase recoveries. Since temperature of 225 degrees celsius. Run of

Mine Emergency

2007, flotation concentrate from the Grind size is important to the oxidation Ore Feed Cyclone
Cleaners
4 x 38 m
³3
ROM

Reefton Mine has been transported by kinetics and the feed is first finely ground BIN Scats

Cleaner/

rail and road to Macraes to utilise surplus with approximately 90% of the feed at Jaw
Ball Mills
Unit
Cells Scavengers
5 x 38 m3

autoclave capacity. 20 microns. The autoclave is designed Grizzly

Crusher

for 50 minutes, residence time targeting

98% oxidation, however these targets Run of SAG MILL 02
At the other processing plant in Reefton, Mine
Ore
MILL 01

the ore is put through crushing, grinding, vary with feed from Macraes and Rom
15m Con Macraes Vent
Wash Con
Reefton to optimise CIL recoveries. BIN Scrubber
flotation and concentrate dewatering.
Limestone Thickener Storage
MILL 350

The processing plant is operating well Jaw Regrind

Mill
Batch
Treatment
Flash
Vessel

above its nameplate capacity of 1 million Flotation recovery is approximately

86 – 88%, CIL recovery is around
Wash
tonnes per annum with current throughput MILL 500 Water

93 – 95% with an overall recovery

Autoclave
of approximately 1.6 million tonnes Rougher/scavengers
Discharge Wash
Thickeners Autoclave

per annum. greater than 81% achieved over the 3 x 300 m3³and 2 x 150 m3 ³
Discharge wash

last three years. Overall recovery

solution

At Macraes, the Ball Mill Work Index is improvement has been achieved through
Eluate

12.5 kilowatt hours per tonne (kWh/t). optimising autoclave oxidation rates, Elution
Regen
Kiln

At Reefton, the Ball Mill Work Index is the passivation of preg-robbing species Loaded
Carbon
Column

Barren

17.0 kWh/t. in the concentrate and longer elution From Reefton Carbon Inco
Cyanide

cycles to produce better CIL recoveries. Reefton Con

CIL
Kill Unit

Float

Despite a lower head grade in 2014 Repulp

Isamill
Storage
CIL 1
Tail Tail

compared to previous years, overall Storage Bin

CIL 2
CIL 3
CIL 4

recoveries increased at Macraes. CIL 5

CIL 6

TK-09

Mixed
Barring Electrowinning Tails
Gold Bullion Furnace Cells Dam

Float
Automatic Measurement Manual Measurement Tails

28 OceanaGold Fact Book 2015

 Process plant
capacity Macraes
REEFTON
6 million
tonnes CONCENTRATE
Reefton FURTHER REFINED
AT MACRAES
1.6 milliontonnes

Ball Mill Work Index

Macraes
Processing costs

12.5 kw/h Macraes

per tonne

Reefton
$8 – $9
(per tonne milled)
17.0 kw/hper tonne

Processing costs
AUTOCLAVE Reefton

OPERATION
AT MACRAES $12 – $13
(per tonne milled)

Macraes process plant, New Zealand.

OceanaGold Fact Book 2015 29

El Dorado Project – El Salvador
El Dorado Project Facts
• Deposit type: Low sulphidation epithermal
• Strong focus on stakeholder engagement
• Resources
– Gold: 1.56 Moz
– Silver: 139.85 Moz
El Dorado Project – El Salvador
OceanaGold acquired 100% of the
advanced stage El Dorado Project in
November 2013 through the acquisition
of Pacific Rim Mining Corp. The property
is located approximately 74 kilometres
north east of the capital San Salvador
(accessed by paved road) and 10 kilometres
southwest of the town of Sensuntepeque.
The El Dorado licence area covers
14,407 hectares and contains several
prospects and deposits. In 2009, Pac
Rim Cayman LLC, a subsidiary of Pacific
Rim, filed an arbitration claim with the
International Centre for Settlement of
Investment Disputes (ICSID), seeking
monetary compensation under the
Investment Law of El Salvador. This
followed the passive refusal of the
Government of El Salvador to issue
a decision on Pac Rim Cayman LLC’s
application for environmental and
mining permits for El Dorado1.
The matter is now in the final phase of
arbitration following written submissions
and a merits hearing which was held in
September 2014. The outcome of these
proceedings is pending and the Company
makes no guarantees or representations
that the outcome will be favourable to
Pac Rim Cayman LLC.
1. In 2009, Pac Rim Cayman LLC, a subsidiary of Pacific Rim, filed an arbitration claim with the International Centre for Settlement of Investment Disputes (ICSID). This follows the passive refusal of the Government of El Salvador to issue a decision on
Pac Rim Cayman LLC’s application for environmental and mining permits for El Dorado. The case is currently proceeding under the Investment Law of E Salvador and is in the final phase of arbitration following a merits hearing held in September 2014.
The outcome of these proceedings is pending and the Company makes no guarantees or representations that the outcome will be favourable to Pac Rim Cayman LLC. For further information please refer to the 2014 Annual Information Forum available
on www.oceanagold.com
30
Ore Body
The El Dorado Project1 area contains
many deposits, prospects and occurrences
in veins, hot spring deposits and
hydrothermal breccias. They are found in
three districts, north, central and south,
that are distinguished from each other
by the dominant vein orientations and the
level of the hydrothermal system that is
exposed on the present-day surface. The
veins have complex, multi-stage histories
of formation.
The dimensions of mineralised veins
are as varied as their exploration status,
ranging from those known only in single
outcrops to those that have been traced
on the surface over lengths of between
one and two kilometres. Systems of
related veins are up to three kilometres
long. In those veins that have been mined
or extensively drilled, mineralisation
has been demonstrated to exist over
vertical intervals of up to 300 metres
(in considering vein lengths and vertical
dimensions it is important to note that
at a detailed level mineralisation in
this type of system is highly variable).
Geographical mapping covers
approximately 2,000 hectares.
The dominant components of the
El Dorado veins are chalcedonic quartz
and calcite. The veins generally contain
less than 1% to 2% sulphides. The
multi-stage paragenetic nature of the
veins implies that quartz, calcite and
gold – and silver-bearing minerals have
been introduced in several stages.
OceanaGold Fact Book 2015
Republic of El Salvador
• Capital: San Salvador
• Population: 6.3 million
• Currency: United States dollar
• GDP: US$50.9 billion
• Language: Spanish
• Unemployment rate: 6.2%
El Dorado Project History
Mining and milling operations commenced
at the El Dorado Mine in 1948 with over
270,000 tonnes milled and approximately
72,500 ounces extracted. The mine was
closed in 1953 mainly attributable to low
gold prices. An exploration program was
conducted from 1975 to 1976 and further
deposits and prospects were identified
between 1993 and 1995. Dayton Mining
Corporation acquired the El Dorado Project
in 2000 and amalgamated with Pacific Rim
Mining Corp in 2002 through a reverse
takeover.
Stakeholder Engagement
OceanaGold has strongly focused on
stakeholder engagement. The programs
it has identified and invested in have been
based on stakeholder needs identified
through careful collaboration, respect
and understanding. In 2014, the Company
sanctioned a third party socio-economic
baseline assessment of the host
communities around El Dorado. This
assessment will be conducted every
two years and will be used to further
refine the community programs and
allow the Company to measure the
success of its programs.
Company and El Dorado community building
new community Park, El Salvador.
In 2014, the Company achieved strong
support in the communities around
El Dorado for investment in infrastructure,
such as the development of a new
recreational park (Parque Torogoz),
reforestation by maintaining the El Dorado
tree nursery where 4,000 trees are
planted each year, and education including
Accelerated Adult Education program
whereby Company employees are provided
an opportunity for further education
and/or skills training development. The
Company also supported local business
development activities within its local
communities by conducting workshops
that inspired manufacturing of consumer
products such as multi-purpose soap and
cleaning products such as shampoos.
The Company will continue to work
closely with its Stakeholders, including
the Government of El Salvador to establish
a roadmap in unlocking the economic
and social enhancements associated
with a responsible mining operation
at El Dorado for the community and
in the broader country.
Project Development and Exploration
Project Development and
Exploration Facts
• In-house project development team.
• Delivered Didipio optimisation study.
• Completed Didipio process plant
debottlenecking activities.
• Completed the Blackwater Preliminary
Economic Assessment.2
• Exploration success at Frasers
added one year to mine life.
OceanaGold has a competitive advantage
over its peers in that it develops projects
in-house through its highly technical and
seasoned project development team. This
has been proven through the successful
development of the Reefton operation
in 2007, the Frasers Underground
Mine in 2008 and more recently the
development of the Didipio Mine.
Even more recently, the OceanaGold
project development team has been
instrumental in optimising the Didipio
Mine design and mine plan and has
delivered the PEA for the Blackwater
Project near Reefton. Furthermore, the
technical aptitude and diversification
of the technical team has played an
instrumental role in the evaluation
of external growth opportunities.
Philippines
In the Philippines, the Company has
focused on the optimisation of the Didipio
Mine design, which was completed in the
third quarter of 2014. The results of the
optimisation study demonstrated a new
robust mine design with earlier access
to high-grade material in the underground
portion of the ore body, expansion of the
underground and an optimal open pit shell
2. The production target and forecast financial information discussed in this slide must be read in conjunction with the cautionary statement on page 3 of the Blackwater Preliminary Economic Assessment dated October 21, 2014 (PEA) explaining that
there is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target and forecast
financial information will be realised. OceanaGold confirms that all material assumptions underpinning the production target and forecast financial information in the Blackwater PEA continue to apply and have not materially changed.
Post-tax NPV for base case revenue +/- 25% using a discount rate of 5% is in the range of $40 million – $223 million with a midpoint of $132 million. Please refer to Blackwater PEA for range of NPV results.
that reduces the amount of waste mined
and reoriented to fit the geometric
structure of the ore body.
In 2014, the Company also completed the
debottlenecking activities of the Didipio
process plant with the completion of the
pebble crusher in the fourth quarter of
2014. As a result, the Didipio process
plant now operates at an annualised
throughput rate of 3.5 Mtpa, 40%
above its nameplate capacity.
New Zealand
In New Zealand, the Company completed
the PEA for the Blackwater Project2
located near the existing Reefton
operation. The results of the Blackwater
PEA demonstrates the incremental value
that exists for the business in New Zealand
through this organic growth opportunity
that has the potential to generate a solid
return on investment. Under the base case
scenario, which is based on an Inferred
Resource, the post-tax net present value
(5% discount rate) was $132 million,
$200 million pre-tax.
The results of the study are as follows:
• (Inferred) Resource grade: 23 g/t – already
in the current Resource statement.
• Mining method proposed: Air-Leg Resue.
• Process plant rate: 120 ktpa.
• Gold produced: 55 – 60 koz/yr.
• Mine life: 11 years with potential for
increased reserves and mine life at depth.
• Ore processing gold recovery: 96%.
• Dilution: 50% with an average head
grade of 16 g/t.
• Headcount: 140 to 150 workers
during the operational phase.
OceanaGold Fact Book 2015
Exploration
OceanaGold’s exploration strategy is
focused on discovery that has the potential
to extend the mine life at its operations.
In 2014, the Company invested $3.7 million
(2013 – $6.7 million, 2012 – $14.9 million)
with the majority incurred in the Philippines
on near mine-site drilling and geophysics.
In 2015, OceanaGold plans to invest
a total of $3 million to $5 million on
exploration in the Philippines and
New Zealand.
Philippines
Exploration in the Philippines focused
on delineating potential copper and
gold drill targets within the Financial
or Technical Assistance Agreement
(FTAA) area and adjacent OceanaGold
controlled explorations permits.
The exploration activities are focused
on identifying drilling targets within the
broader FTAA area and on drilling near
the mine. The Company also conducted
additional drilling of the Didipio ore body
to better define the high-grade zones.
In 2014, the Company conducted a
comprehensive geophysical survey of
the Didipio area to identify the existence
of chargeability and resistivity signatures
similar to the Didipio deposit. Drilling
of targets commenced in late 2014
and will continue into 2015.
On the island of Mindanao, the Company
received the formal endorsement and
sign-off of the indigenous groups near
its Mayag deposit. This sign-off cleared
the path for the Company to receive its
exploration permit (still pending). In 2014,
the Company however, was granted
the exploration permit renewal for its
Paco tenements, which is adjacent to
the Mayag deposit. At the end of 2014,
the Company prepared the site for a
geophysical survey, which will seek
to identify buried porphyry systems
similar to the Boyongan and Bayugo
(owned by Philex) to the east of Paco.
The Company plans to increase its
exploration budget in the Philippines
with the successful granting of
exploration permits.
New Zealand
The Macraes exploration permits cover
35 kilometres of strike length of the
mineralised Hyde-Macraes shear zone.
The planned surface resource development
drilling program for 2015 will be
approximately 200 holes comprising
20,000 metres of Reverse Circulation
(RC) drilling. The resource development
drilling is currently underway along strike
between existing and old open pits. The
new brownfields drill program initiated at
Macraes is intended to increase reserves
and extend the mine life of the operations at
the Macraes Goldfield at similar production
levels and with healthy margins.
The Frasers Underground drilling from
exploration drives and jump-up rises
continues to be successful in intersecting
mineralisation and the deposit remains
open down-dip. In 2014, the underground
exploration and resource infill drilling
program comprised 90 diamond drill
holes for 4,500 metres. In 2015, resource
definition drilling is set to continue
in the down-dip areas of Panel 2, and
in the under-explored area between
Panel 1 and Panel 2.
31
Reserves and Resources

OCEANAGOLD HAS A SOLID 43-101 of the Canadian Securities Mineral Reserves

MINERAL ENDOWMENT FROM ITS
PORTFOLIO OF HIGH-QUALITY
ASSETS. THE COMPANY HAS SEEN
A YEAR-ON-YEAR INCREASE IN
RESERVES AT DIDIPIO DRIVEN BY
THE STRONG RESULTS GENERATED
FROM THE DIDIPIO OPTIMISATION
STUDY. THE MINE LIFE AT
THE FRASERS UNDERGROUND
OPERATION HAS BEEN EXTENDED
BY AN ADDITIONAL YEAR OF
PRODUCTION AT SIMILAR
RATES TO PREVIOUS YEARS
The Company will continue to develop
Administrators (NI 43-101). The JORC
Code is the accepted reporting standard 6.00
for the Australian Securities Exchange
(ASX) and the New Zealand Stock
5.00
Exchange (NZX), whilst NI 43-101 is
the reporting standard for the Toronto
Stock Exchange. The El Dorado property 4.00
used the Canadian Institute of Mining,
Metallurgy and Petroleum (CIM) 3.00
Standard for resource estimates.
2.00
As at 31 December 2014, OceanaGold
had a total Measured and Indicated
Mineral Resources of 181 million tonnes 1.00
@ 1.35 g/t Au for 7.82 million ounces
of gold including 13.8 million ounces 0.00
of silver and 240,000 tonnes of copper.

Dec 08

Dec 09

Dec 10

Dec 11

Dec 12

Dec 13

new reserves and resources at its
existing mines from in-pit and near-mine
exploration. The Company places a strong
focus on satellite projects located within
the current tenements and permits
and will pursue selective resource
development opportunities that are
complementary and add low-cost
gold reserves to the business.
Resources
As OceanaGold’s main listing is on the
Toronto Stock Exchange. OceanaGold’s
estimates of mineral resources and
reserves are prepared in accordance with
the standards set out in the Australasian
Code for Reporting of Exploration Results,
Mineral Resources and Ore Reserves dated
December 2012 (the ‘JORC Code’) and in
accordance with National Instrument
This includes Proven and Probable
Reserves of 85.9 million tonnes
@ 1.09 g/t Au for 3.02 million ounces
of gold including 3.58 million ounces
of silver and 210,000 tonnes of copper.
The tables on page 33 summarise the
Company’s Mineral Resource and Mineral
Reserve inventories as at 31 December
2014. The Mineral Resources stated
include the Mineral Reserves.
Reserves
The Company’s total Proven and Probable
(P&P) reserves stand at 85.9 Mt with
3.02 Moz of gold, 3.58 Moz of silver and
0.21 Mt of copper. This represents a slight
decrease from the previous year as a
result of mine depletion, but partly offset
from an increase to Didipio reserves
following the Didipio optimisation study.
Gold equivalent Gold (Moz)
The P&P reserves were calculated using
US$1,250/oz gold and US$3.20/lb copper.
At Didipio in the Philippines, P&P reserves
were slightly higher due to the at depth
expansion of the underground mine
design. The increase was partly offset
by a reduction of reserves from the open
pit following the changes made to the
mine design in the optimisation study
and from mine depletion. Overall, the
Didipio reserves increased to 47.6 Mt
from 45.6 Mt while the gold reserve
increased to 1.70 Moz from 1.59 Moz
with a slight increase in reserve grade
to 1.11 g/t. Copper reserve remained
steady year-on-year after depletion.
Dec 14
In New Zealand, P&P reserves stand at
38.4 Mt @ 1.07 g/t Au for 1.32 Moz of gold,
a reduction from the previous year due
mainly to mine depletion. At the Frasers
Underground Mine, additional reserves
were defined resulting in an extension to
the mine life out to the end of 2016, one
year later than previously stated. In each
of the past several years, the Company has
successfully defined additional reserves
at the Frasers Underground Mine, resulting
in additional mine life at the operation.

32 OceanaGold Fact Book 2015

Resource Statement as at 31 December 2014
Resource Measured Indicated
Area Mt Au g/t Au Moz Ag g/t Ag Moz Cu % Cu Mt Mt Au g/t Au Moz Ag g/t Ag Moz Cu % Cu Mt
Macraes total 25.3 1.36 1.11 75.4 1.02 2.48
Reefton total 1.8 1.74 0.10 12.6 1.47 0.60
Sams Creek1 4.0 1.77 0.23
Didipio total2 20.3 1.03 0.67 2.51 1.64 0.44 0.09 37.0 1.13 1.35 2.25 2.67 0.41 0.15
El Salvador total3 0.8 11.30 0.28 75.7 1.90 3.5 9.00 1.01 67.50 7.58
Total Resource 48.2 1.39 2.16 3.54 0.44 0.09 133.0 1.33 5.66 10.25 0.41 0.15

Resource Measured and Indicated Inferred

Area Mt Au g/t Au Moz Ag g/t Ag Moz Cu % Cu Mt Mt Au g/t Au Moz Ag g/t Ag Moz Cu % Cu Mt
Macraes total 101.0 1.11 3.58 80.0 0.94 2.40
Reefton total 14.4 1.50 0.70 7.6 3.80 0.93
Sams Creek1 4.0 1.77 0.23 4.2 1.30 0.18
Didipio total2 57.3 1.10 2.02 2.34 4.32 0.42 0.24 12.0 0.93 0.35 1.50 0.57 0.32 0.04
El Salvador total3 4.3 9.42 1.30 69.0 9.48 0.8 9.40 0.25 71.00 1.90
Total Resource 181.0 1.35 7.82 13.80 0.42 0.24 104.0 1.20 4.11 2.47 0.32 0.04
Notes
All resources are inclusive of reserves.
1. OceanaGold retains a 40% interest in the Sams Creek project in the South Island of New Zealand. The project contains a total of 10.1 Mt @ 1.77 g/t Au for 575 koz Indicated Resource, as well as 10 Mt @ 1.3 g/t Au for 440 koz of Inferred Resource.
40% of the total Sams Creek inventory has been included in OceanaGold’s resource table. The project is not considered material to OceanaGold.
2. 0.50 g/t EqAu cut-off above the 2,460 mRL and 1.12 g/t cut-off below the 2,460 mRL. No resource reported below 2,070 mRL. For the open pit resources, the EqAu cut-off is gold equivalent based on US$1,300/oz gold and US$3.33/lb copper. For the
underground resources, the EqAu cut-off is gold equivalent based on US$1,450/oz gold and US$3.80/lb copper.
3. The El Dorado Project is not considered material. Please refer to www.oceanagold.com for the press release dated 8 October 2013 for more details on the status of the permit applications and arbitration for the El Dorado Project as at the end of 2013.
El Dorado resource cut-offs are based on gold 2008 assumptions of US$980/oz and US$20/oz silver.
For Macraes and Reefton (which have shorter projected mine lives than Didipio), resource cut-offs are based on US$1,250/oz gold.

Reserve Statement as at 31 December 2014

Reserve Proven Probable Total Reserve
Area Mt Au g/t Cu % Ag g/t Mt Au g/t Cu % Ag g/t Mt Au g/t Au Moz Cu % Cu Mt Ag g/t Ag Moz
Macraes total 16.78 1.04 18.29 1.03 35.07 1.04 1.17
Reefton total 0.71 1.56 2.60 1.44 3.31 1.46 0.16
Didipio total 19.72 0.98 0.46 2.50 27.84 1.20 0.42 2.22 47.56 1.11 1.70 0.44 0.21 2.34 3.58
Total Reserve 37.21 1.02 0.46 2.50 48.73 1.15 0.42 2.22 85.94 1.09 3.02 0.44 0.21 2.34 3.58
Notes
1. The Macraes and Reefton Mineral Reserve figures were updated since the Macraes and Reefton Technical Reports to take into account depletion, drilling and gold price changes.
2. Macraes and Reefton Operations cut-off is based on US$1250/oz gold. The estimates of Mineral Reserves for Macraes and Reefton Operations were prepared by, or under the supervision of, K Madambi.
3. Didipio Gold/Copper Project cut-off is gold equivalent based on US$1250/oz gold and US$3.20/lb. copper. The estimates of Mineral Reserves for the Didipio Gold/Copper Project were prepared by, or under the supervision of, M Holmes.
4. Figures are in-situ delivered to ROM (no mill factor applied).

OceanaGold Fact Book 2015 33

Sustainability
WE ARE COMMITTED TO GAINING
AND NURTURING OUR SOCIAL
LICENCE TO OPERATE THROUGH
SUSTAINABLE AND RESPONSIBLE
MINING DEVELOPMENT AND
SUCCESSFUL RELATIONSHIPS
WITH OUR STAKEHOLDERS.
In 2014, we continued to extend our
sustainability program to develop
initiatives which deliver measurable
benefits and leave a positive and
long-lasting legacy in our communities.
Corporate Governance
As an organisation, we seek to maintain
the confidence of our stakeholders
and to enhance and protect shareholder
value. In 2014, we achieved a number
of significant corporate governance
milestones with the aim to enhancing
transparency and providing rigorous
performance standards.
Highlights include
• We extended our Corporate Social
Responsibility (CSR) Policy into the
Human Rights Policy, Health and
Safety Policy, Environment Policy
and Community Policy.
• We implemented the Human Rights
and Community Compliance Standards
to support the Human Rights Policy
and Community Policy.
• We implemented an improved
‘whistle-blower’ service to promote
further transparency and to support the
corporate Protected Disclosures Policy.
34
Health and Safety
The health and safety of our people
remains an unwavering priority as
we continue to implement innovative
safety training programs to identify and
mitigate hazards in the workplace and
to increase the frequency of near miss
and hazard reporting across all operations.
The success of our programs was
demonstrated in the reduction in the
overall Lost Time Injury Frequency
Rate (LTIFR) between 2012 and 2014.
Our New Zealand operations further
implemented ‘smoke-free workplaces’
and have worked closely to consult and
support employees in stopping smoking
demonstrating the Company’s aim of
providing a safe and healthy work
environment.
Highlights include
• Achieved 10 million man hours
worked without an LTI at the
Didipio operations.
• Reduced the overall Lost Time
Frequency Rate (LTIFR) by 96%
between 2012 and 2014.
• Completed over 3,000 task-based
observations at the Macraes operation.
OceanaGold Fact Book 2015
Community
Across all operations we continue to
focus on maintaining strong relationships
with our community stakeholders.
We engage in dialogue with community
members at levels and through both
formal and informal channels. We further
seek to understand local priorities by
conducing regular, periodic socio-economic
and household health surveys which
we completed in the Philippines and
in El Salvador in 2014. Our programs
centre upon four funding pillars of
health, education, infrastructure
and capacity development.
Highlights include
• Winning the Gold Award for
Empowerment of Women during
the sixth Global CSR Summit and
Awards in recognition of our ongoing
commitment to offering women at
Didipio Mine opportunities to develop
careers in non-traditional roles.
• Establishing the Macraes Community
Development Trust to manage social
investment in the Macraes Community.
OceanaGold donated NZ$2.3 million to
fund local programs.
• Development of successful local
programs in El Salvador such as literacy
and numeracy programs aimed at
adults and a women’s health program
aimed at early detection and education.
Environment
Our environmental management strategy
aims to reduce our environmental footprint
through a strong focus on continuous
improvement in environmental
performance.
2014 Highlights include
• Introduction of the Environmental
Compliance Standards and increased
environmental auditing across all assets.
• Achieving the globally recognised
ISO14001:2004 Certification of
the Didipio Mine Environmental
Management System.
• Received the top award for the
2014 Presidential Mineral Industry
Environment Awards while Didipio
received the prestigious Safest Mining
Operation award.
• Commissioning of the Didipio Mine
Water Treatment plant capable of
treating 2,000 cubic metres per hour.
• Successful restoration of an impressive
30.6 hectares of land and planting of
more than 73,000 seedlings as part of
Reefton Mine’s rehabilitation program.
 ‘Achieving the
globally recognised
ISO14001:2004
Certification of
the Didipio Mine
Environmental
Management System.’

Didipio operation achieves another

major milestone, Philippines.

OceanaGold Fact Book 2015 35

Financials and Investor Information

RECORD FINANCIALS AND FREE CASH FLOW

GENERATION IN A LOWER COMMODITY PRICE
ENVIRONMENT

Mining and agriculture at the Macraes Goldfield, New Zealand.

36 OceanaGold Fact Book 2015

OceanaGold Fact Book 2015 37
Five Year Financial Summary

Year Year Year Year Year

2014 2013 2012 2011 2010
Statement of Operations $’000 $’000 $’000 $’000 $’000
Sales 563,328 553,612 385,448 395,609 305,638
Cost of sales, excluding depreciation and amortisation (289,888) (260,651) (226,039) (216,789) (150,697)
General and administration (34,539) (28,423) (14,911) (14,537) (13,805)
Foreign currency exchange gain/(loss) 1,711 1,267 (961) 320 (961)
Other income/(expense) (817) (3,445) 1,095 (680) (660)
Earnings before interest, tax, depreciation and amortisation (EBITDA) 239,795 262,360 144,632 163,923 139,515
(excluding gain/(loss) on undesignated hedges and impairment charge)
Depreciation and amortisation (129,561) (129,315) (91,376) (85,822) (69,337)
Net interest expense and finance costs (11,206) (26,978) (21,510) (12,909) (14,780)
Earnings/(loss) before income tax and gain/(loss) on undesignated hedges and impairment charge 99,028 106,067 31,746 65,192 55,398
Tax (expense)/ benefit on earnings/loss 13,137 (13,290) (11,426) (21,025) (22,638)
Earnings/(loss) after income tax and before gain/(loss) on undesignated hedges and impairment charge 112,165 92,777 20,320 44,167 32,760
Impairment charge - (193,300) (107,800) - (193,300)
Gain/(loss) on fair value undesignated hedges (876) (2,083) 503 - 16,215
Tax (expense)/benefit on gain/loss on undesignated hedges and impairment 246 54,749 (151) - (4,540)
Net profit/(loss) 111,535 (47,857) 20,672 44,167 44,435
Basic earnings per share $0.37  ($0.16) $0.08 $0.17 $0.20
Diluted earnings per share  $0.36 ($0.16) $0.08 $0.17 $0.20

Cash Flows
Cash flows from operating activities  214,941 159,429 115,253 154,555 52,260
Cash flows used in investing activities  (109,418) (158,812) (294,548) (146,595) (107,809)
Cash flows used in financing activities (75,433)  (83,190) 108,919 (16,110) 186,798

Commodity Price Received

Average gold price received ($/oz) 1,273 1,382 1,675 1,587 1,140
Average copper price received ($/lb) 3.11 3.23 - - -

38 OceanaGold Fact Book 2015

Operating Costs
Operating Costs Facts
• Sector leading low costs.
• 2014 All-In Sustaining Costs (AISC)
of $785 per ounce sold.
• 2014 cash costs of $418 per ounce sold.
• Operating one of the lowest cost gold
mines globally at Didipio.
OceanaGold is one of the lowest cost
gold producers globally with first
quartile AISC. In 2014, the Company’s
consolidated AISC was $785 per ounce
sold compared with $868 per ounce sold
in 2013. This includes negative AISC
of negative ($103) per ounce sold at
Didipio for the year.
OceanaGold’s operating cash cost per
ounce of gold sold continued to trend
lower in 2014 decreasing from $940 per
ounce sold in 2012 to $426 per ounce sold
in 2013 to $418 per ounce sold in 2014.
All costs are net of by-product credits,
however, it reflects the strong profitability
of the Company, a defining feature
in this low gold price environment.
At Didipio, the majority of costs are tied
to the US dollar and with a strengthening
dollar, the Philippine Peso is virtually
unaffected. A large component of the cash
operating costs at Didipio are associated
with diesel fuel consumption as the
operation runs on diesel power generation.
With the drop in fuel prices, costs have
decreased considerably at the operation.
Additionally, with the connection of the
process plant to the power grid by the
fourth quarter of 2015, the Company
expects significant savings in costs
each year.
In New Zealand, electricity is sourced 2014 Cash Cost Split of 2014 Cash Cost Split of Didipio
from the electricity transmission network New Zealand Operations Operations
grid of which 75% is derived from
renewable (mainly hydro, also geothermal
8 9 7
and wind) sources and 75% of power is 7 6
hedged. Power prices excluding line and 6 5
1
network charges average approximately
NZD 5 – 8 cents per kilowatt hour. The 5 4 1
drop in fuel prices and weaker New
Zealand dollar has had a positive impact
on costs across the operations. In New 4
3
Zealand, diesel consumption accounts
for 8 to 10% of the cash operating costs
at these operations. Additionally, over 3
2
85% of costs are denominated in 2
New Zealand dollars.
1. Employees and other labour costs 29% 1. Contractors 29%
In 2014, approximately 62% of the
operating costs incurred in New Zealand 2. Maintenance 25% 2. Diesel 19%
3. Consumables, chemical and grinding media 13% 3. Employees and other labour costs 9%
related to labour, diesel and maintenance,
4. Diesel 9% 4. Other 7%
of which a large proportion is fixed (hence 5. Electricity 9% 5. Maintenance 5%
cash cost per ounce sold decreases with 6. Contractors 6% 6. Consumables, chemical and grinding media 3%
increased gold ounces sold). 7. Drill and blast 4% 7. Drill and blast 3%
8. Other 4%
As OceanaGold reports its financial results 9. Royalties 1%
in United States dollars (USD), the foreign
exchange rate used for translation may
have an impact on the reported costs. The Globe Progress Open Pit component In 2014, royalties represented less than
Cash spent on pre-stripping is capitalised of the Reefton Mine pays a royalty based 1% of New Zealand gold sales and are
on the balance sheet and amortised on the NZD gold price until 400,000 ounces included in the reported cash cost amount.
have been produced from this permit.
against future production in the profit
During the third quarter of 2012, Reefton In the Philippines the local claim owner
and loss statement.
achieved this production benchmark and syndicate is entitled to a 2% net smelter
therefore going forward royalties for the return (NSR) royalty on production, which
Royalties New Zealand operations are expected to was payable in 2014.
In New Zealand (for Macraes and Reefton), be lower.
royalties to a maximum of 1% ad valorem
or 5% of accounting profits, whichever is Other areas in the Reefton Goldfield
greater, are payable to the Crown annually. outside of this permit are subject to a
Most of the Reefton permits are also variable royalty of between 1% and 3%
subject to an agreement with Royalco annual gold production, however, based
Resources Limited (Royalco). on current forecast mining areas, this is
not applicable.
OceanaGold Fact Book 2015 39
Capital Expenditure and Liquidity

Capital Expenditure Liquidity Total Liquidity Total Debt

In 2014, OceanaGold invested $109 million
on capital expenditure including $4 million
on exploration. In the Philippines, capital
expenditure was mainly on pre-stripping,
and sustaining capital associated with
plant and equipment including
debottlenecking activities such as the
installation of a pebble crusher circuit,
exploration and development capital on the
tailings storage facility, water treatment
plant and the grid power connection.
In New Zealand, capital expenditure
included sustaining capital on plant and
equipment at the operations, principal
payments made on mining equipment
leases, pre-stripping and progressive
rehabilitation.
In 2014, the Company announced the
restructuring of its term and revolving
credit facility into a new $200 million
revolving credit facility. The facility $30m
$51m
continued to be financed through the
Company’s banking syndicate that
includes Barclays, BNP Paribas, Citi,
Total Liquidity Total Debt
HSBC and Ned Bank. The facility has
$163m $118m
common terms and conditions and
amortises over three years until full $112m
maturity in mid-2017. Interest on this
$88m
facility is based on floating US$ LIBOR
plus a margin. As at 31 December
2014, available undrawn facilities
were US$112 million and cash on
hand was US$51 million. Cash Drawn revolving credit facility
Undrawn revolving credit facility Leases on mining equipment

In 2015, capital expenditure is expected

to range between $95 million and
$105 million on a consolidated basis.
For the Philippines, 2015 capital
expenditure is estimated range from
$55 million to $65 million including
$20 million to $25 million for the
underground development and $10 million
for the power grid connection. Capital
expenditure in New Zealand continues
to be significantly lower with most of
this spend on sustaining capital and
rehabilitation. Exploration expenditure
for 2015 is expected to be $2 million
to $3 million, however, this figure is
expected to grow with the granting of
exploration permits in the Philippines.

Mining operations at the Macraes Open Pit, New Zealand.

40 OceanaGold Fact Book 2015

Share Information
OGC Stock Facts
• 2014 share price return: 23%.
• 2014 average daily volumes traded:
2.7 million shares.
• 2014 dividend payment: $0.04 per share
or 11% payout.
• Dividend policy: Fixed – $0.02 per share
plus discretionary.
• Analysts coverage: 15 brokers globally.
OceanaGold is listed on the Toronto,
Australian and New Zealand stock exchanges
under the stock ticker OGC. OGC shares are
fully fungible between the three exchanges.
Share Price Performance
OceanaGold’s market capitalisation as
at 31 March 2015 was C$726 million.
After a significant drop in the price of gold
in 2013, it was another volatile year for
gold in 2014. Despite fluctuations in the
gold price through the year, it decreased
in value by only 2%, outperforming many
other commodities and currencies. The
price of gold peaked at $1,382 per ounce
on 14 March 2014 and experienced an
intraday low of $1,140 per ounce on
5 November 2014.
The volatility in the gold price created a
similar level of volatility for gold equities.
For another consecutive year, OceanaGold
was an outperforming stock returning 23%
to investors for the calendar year. Over
the past three years, OceanaGold was
the top performing stock based on Total
Shareholder Return, within the Company’s
peer group which comprises of mid-tier
North American and Australian gold
producers.
Interest in the Company continued with a
strong shareholder register and subsequent
liquidity. For 2014, the Company traded
2.7 million shares on average each day
across North America, Australia and
New Zealand, nearly doubled on the
previous year.
With the strong performance in 2014,
the Board of Directors of the Company
established a dividend policy designed
to balance competing priorities for the
business with a sustainable annual
Shareholders by Region
December 2014
18%
2%
18%
62%
North America
Europe
Asia
Australia and New Zealand
OceanaGold Fact Book 2015
payment to shareholders while maintaining Analyst Coverage
prudent gearing. Under the policy, an OceanaGold is widely covered by
ordinary dividend of US$0.02 per share a strong group of brokers globally.
is intended to be paid annually. In addition, In Canada, the Company is covered
the policy allows for a discretionary by seven brokers and in Australia by
payment that will be based on the eight brokers. Details of the analyst
profitability of the business while taking coverage can be found on the Company
into account capital and investment website www.oceanagold.com
requirements for growth opportunities.
For 2014, the Board declared a Distribution of Shareholdings
dividend payment of US$0.04 per share Since listing on the Toronto stock exchange
(for an aggregate of approximately in 2007, OceanaGold has developed a
US$12 million). The dividend payment broad international base of shareholders.
for 2014 equated to only 12% of the Institutional shareholding represents
free cash flow generated in the year. 75% of issued shares. Approximately
50% of OceanaGold’s shares are held by
investors domiciled in the United States.
North American-based investors account
for over 62% of the total investor base.
OceanaGold’s Longer-term Relative Share Price Performance Against
The Spot Gold Price and Market Vectors® Junior Gold Index
240
220
200
180
160
140
120
100
80
60
40
20
Jan 14
Mar 14
May 14
Jul 14
Sep 14
Nov 14
OGC Gold Spot $US GDXJ Market Vectors® Junior Gold Index
41
Our Team

James E Askew Michael F Wilkes J Denham Shale Jose P Leviste, Jr

William H Myckatyn Dr Geoffrey W Raby Paul Sweeney

Mark Chamberlain Michael Holmes Mark Cadzow Darren Klinck

Yuwen Ma Liang Tang

42 OceanaGold Fact Book 2015

Board of Directors
James (Jim) E Askew
Chairman of the Board of Directors
(appointed March 2007)
• Mining engineer with over 35 years’
experience.
• Director and/or Chief Executive Officer
for a wide range of Australian and
international publicly listed mining,
mining finance and other mining
related companies.
• Current board memberships: Syrah
Resources (Non-Executive Chairman),
Evolution Mining Ltd and Asian Mineral
Resources Ltd.
Michael (Mick) F Wilkes
Managing Director and Chief Executive
Officer (appointed April 2011)
• Mining engineer with approximately
30 years’ industry experience with
precious and base metals.
• Developed major projects in Australia
and southeast Asia including OZ
Mineral’s Prominent Hill copper
gold project and Sepon gold copper
project for Oxiana in Laos.
• Previously held senior mining
roles in Papua New Guinea.
J Denham Shale
Lead Director (appointed March 2007)
• Lawyer in practice in Auckland.
• Director of listed companies for
over 20 years.
• Mr Shale is currently Chairman of
The Farmers Trading Company Limited,
as well as several private companies.
He has a Bachelor of Laws degree and
is the Immediate Past President and
a Distinguished Fellow of the Institute
of Directors in New Zealand (Inc.).
Jose (Joey) P Leviste, Jr
Non-Executive Director
(appointed December 2007)
• Current Chairman of OceanaGold’s
wholly-owned subsidiary company
in the Philippines, OceanaGold
(Philippines), Inc.
• Philippine Resident Representative
of the Australia-Philippine Business
Council.
• Appointed by President of the
Philippines as private sector member
of Governing Council of the Philippine
Council for Agriculture, Aquatic and
Natural Resource.
William (Bill) H Myckatyn
Non-Executive Director
(appointed April 2010)
• Professional mining engineer with
over 40 years’ experience in mine
development and operations.
• Former Chairman of Quadra FNX
Mining Ltd. until its takeover in
2012, an intermediate copper and
gold producer and a company he
co-founded as Chief Executive
Officer in 2002.
• Currently on the Board of Directors
for Delta Gold Inc. First Point Minerals
and San Marco Resources.
Dr Geoffrey W Raby
Non-Executive Director
(appointed August 2011)
• Formerly Australia’s Ambassador
to the People’s Republic of China
from 2007 to 2011.
• Previously a Deputy Secretary in the
Department of Foreign Affairs and Trade.
• Chairman of SmartTrans Holdings Ltd
and Non-Executive Director of Fortescue
Metals, both ASX listed companies.
OceanaGold Fact Book 2015
Paul Sweeney
Non-Executive Director
(appointed December 2009)
• Over 35 years’ experience in financial
management of mining and renewable
energy companies.
• Held management roles with Placer
Dome and Gibraltar Mines, board roles
with Pan American Silver and New Gold.
• Currently sits on the boards of Tahoe
Resources, Grenville Strategic Royalty
Corp, Magma Energy Corp, and Mongolia
Growth Group Ltd.
Executive Management Team
Mark Chamberlain
Chief Financial Officer
• Over 35 years’ financial experience.
• Capital markets and financial
and risk management expertise.
• 20 years’ industry experience including
senior finance roles at Newcrest Mining
and Western Mining Corporation.
Michael Holmes
Chief Operating Officer
• Mining engineer with over
25 years’ experience.
• Broad operational experience in
underground and open pit gold,
copper and other metals.
• Industry experience includes
General Manager roles at Xstrata
Copper Mineral Alumbrera in
Argentina and Mount Isa Copper
Operations in Australia.
Mark Cadzow
Chief Development Officer
• Metallurgist with over 30 years’ industry
experience in mineral processing,
precious metals and sulphide minerals.
• Involved in development of patented
processes for the recovery of gold
and other minerals.
• Joined predecessor company in
1991 and has held various technical
and operations responsibilities.
Darren Klinck
Head of Business Development
• International capital markets experience
in metals and mining.
• Appointed Vice President of Investor
Relations in 2007 and current role
in 2011.
• Responsible for identifying and
evaluating external growth opportunities
and capital markets interface.
Yuwen Ma
Head of Human Resources
• Over 20 years’ Human Resources
experience.
• Industry experience includes Eldorado
Gold and Sino Gold Mining Ltd.
• Significant Asian experience with
multinational corporations.
Liang Tang
Company Secretary and Corporate Counsel
• Practising lawyer with broad range
of legal and corporate experience in
the gold mining sector.
• Responsible for legal affairs, compliance
and corporate governance.
• Holds Bachelor of Commerce
and Bachelor of Laws.
43
Glossary
Ag: Chemical symbol for Silver
Agitator: Mechanical stirrer or shaker
All-In Sustaining Costs: World Gold
Council non GAAP measure intended to
provide further transparency into the costs
associated with producing gold, which
incorporates costs related to sustaining
production
Alluvium: Sedimentary material
associated with river deposition
Assay: Chemical analysis on a sample to
determine the concentration of valuable
metals
ASX: Australian Securities Exchange
Au: Chemical symbol for gold
Autoclave: Pressure vessel used to treat
refractory ore
Backfill: Waste material used to fill
voids or pits created by mining
Ball Mill: Steel cylinder filled with steel
balls into which crushed ore is fed. The
ball mill is rotated, causing the balls to
cascade and grind the ore
Barangay: Administration division of
Philippines, a village, district or ward
Breccia: Intensely fractured rock
resulting in a finely pulverised matrix
supporting larger remnant rock fragments
44
Bullion: Metal formed into bars or ingots
By-product credit: Accounting treatment
to record proceeds from sales of other
commodities against cost of goods sold
rather than revenue
Carbon in Leach: Method of gold recovery
where activated carbon is used to retrieve
gold from the leach solution
Cash Cost: Cost of production per
unit sold, typically excluding capital
expenditure. Costs include; mining,
processing, transport, royalties and
related administration
Cash Operating Margin: Average gold
price received less average cash cost per
ounce of gold sold
CDI: ‘CHESS Depository Interests’
are shares held by non-registered
shareholders in Australia, units of
beneficial ownership on the underlying
common shares, which are registered
in the name of CDN
CDN: ‘CHESS Depository Nominees’
clearing agency in Australia
Chalcopyrite: Sulphide mineral of copper
and iron
Copper: Ductile, easily worked metal, a
very good conductor of heat and electricity
and is used especially for electrical wiring
Cu: Chemical symbol for copper
OceanaGold Fact Book 2015
Diamond drilling: Diamond-studded drill
bits are used to recover intact cylindrical
cores of rock, allowing detailed
examination of the rock type as well the
orientations of geological structures
DCDAI: Didipio Community Development
Association Inc (Philippines)
Decline: Ramp entry into underground
mine
DENR: Department of Environment and
Natural Resources (Philippines)
Deposit: Rock containing minerals or
metals through natural processes
Doré: Final saleable product from a
gold mine mainly gold and some silver,
ready for further refinement
Drilling: Refer to ‘Reverse Circulation’
and ‘Diamond Drilling’
EBITDA: Earnings Before Interest,
Tax, Depreciation and Amortisation
Flotation: Milling process using reagents
in which valuable metal attaches to the
bubbles and floats as the waste sinks
FTAA: Financial or Technical Assistance
Agreement (Minerals agreement entered
into with Philippine Government)
GAAP: Generally Accepted Accounting
Practices
Geochemistry: Study of the chemical
properties of rocks
Geology: Study of the Earth and materials
of which it is made (rocks)
Geophysics: Study of physical properties
of rock and minerals
Gold: Dense, soft, shiny, malleable and
ductile metal
Gold Price: Spot gold per troy ounce
quoted in USD
Grade: Concentration of valuable mineral
in a body of rock, normally expressed as
grams per tonne or a percentage
g/t: Grams per tonne
(32.103 grams = 1 troy ounce)
Hedge: A transaction entered into to
offset the adverse price movements
of an asset
IFRS: International Financial Reporting
Standards
Jaw crusher: Machine for crushing rock
or ore between two heavy steel jaws
JORC: Joint Ore Reserves Committee
(Australian and New Zealand standard)
of the AusIMM
Kasibu: Municipality of the Nueva Vizcaya
province in the Philippines
Life of Mine: The time in which the ore
reserves, or such reasonable extension of
the ore reserves as conservative geological
analysis may justify, will be extracted
Luzon: The largest island of the Philippines
and includes the capital of Manila
MGB: Mines & Geosciences Bureau
(Philippines)
Mill Feed: Amount of ore in tonnage
processed
Milling: Grinding rock to powder
Net Smelter Return (NSR): Gross income
from the sale of copper and gold less
treatment charges, refining charges,
metal losses, sea freight, marketing
and insurance cost
NI 43-101: National Instrument
Standards of Disclosure of Mineral
Projects (Canadian Institute of Mining)
NZX: New Zealand Stock Exchange
Open pit mining: A mine on the surface
(also known as open cast and open cut)
Ore: Naturally occurring mineral or rock
from which a valuable mineral or metal
can be extracted at a profit
Ore body: Continuous mass or close
grouping of masses of ore
Ore grade: Concentration of metal
or valuable mineral in the ore deposit
Outcrop: Rock exposure at surface
Oxidation: Chemical reaction from
the interaction with oxygen
PEA: Preliminary Economic Assessment
Placer mining: Extraction of minerals
using water and gravity
Porphyry: Igneous rock consisting of
large crystals dispersed in a fine-grade
groundmass
Pre-strip: Removal of waste rock
overlying an ore body in preparation
of open pit mining
Recovery: Percentage of gold recovered
from mill feed
Reef: An ore body containing gold,
usually thin and tabular
Refractory ore: Ore that requires
additional processing, such as intensive
particle size reduction or chemical
treatment to liberate the commodity
of interest
Reserves: Mineral Resources that are
economically and technically feasible
to extract
OceanaGold Fact Book 2015
Resources: A concentration or occurrence
of minerals for which there are reasonable
prospects for eventual economic
extraction
Reverse Circulation (RC) drilling: RC
drilling breaks up the rock into fragments.
Water or other fluid mixtures flush the
fragments to the surface for sampling
ROM: Run of Mine
SAG Mill: Semi-autogenous grinding
employs coarse ore as the grinding medium
in addition to steel balls to maintain the
grinding rate
Scheelite: Calcium tungsten mineral
Shaft: Entry into the underground mine
with vertical excavations sunk adjacent
to an ore body
SEDAR: Provides access to the most
public securities documents and
information filed by public companies
and investment funds with the Canadian
Securities Administrators (CSA) in the
SEDAR filing system
Shear zone: A zone of intensely
deformed rocks
Strike: The direction of the line of
intersection of a plane (e.g. foliation,
bedding or vein) with the horizontal
plane. The strike of a bed is the direction
of a straight line that connects two
points of equal elevation on the bed
Strip Ratio: Ratio of waste material
to tonnes of ore in an open pit mine
Tailings: Rejected material from the
process mill after most of the recoverable
valuable minerals have been extracted
Throughput: Amount of ore processed
through the mill
Troy Ounce: used to weigh and price
the mass of precious metal, and is
not the same as an imperial ounce
TSX: Toronto Stock Exchange
Tungsten (wolfram): hard dense metal
with high melting point used for cutting
in wear-resistant materials, lighting,
heating and welding applications
Vein: A mineral-filled rock fracture
Waste rock: Rock that does not contain
valuable minerals or metals
45
Key Investor Dates

12 June 2015 Mid to late February 2016

Annual General Meeting – Vancouver
30 July 2015
Second quarter 2015 operational
and financial results
Fourth quarter and full year 2015
operational and financial results
End of March 2016
Resource and Reserve statement update

29 October 2015 Late April 2016

Third quarter 2015 operational First quarter 2016 operational and
and financial results financial results

Third week of January 2016 Note: Dates are subject to change. Refer to
www.oceanagold.com for the latest updates.
Fourth quarter 2015 operational results

Haul truck operations at Didipio, Philippines.

46 OceanaGold Fact Book 2015

Corporate Directory

OceanaGold Corporation Share Registries Stock Exchanges

Corporate Office Canada Canada
Level 14, 357 Collins Street Computershare Investor Services Toronto Stock Exchange
Melbourne Victoria 3000 3rd Floor 510 Burrard Street 3rd Floor 130 King Street W
Australia Vancouver British Columbia V6C 3B9 Toronto Ontario M5X 1J2
Canada Canada
PO Box 355
T +1 604 661 9400 Ticker symbol: OGC
Flinders Lane Post Office
F +1 604 669 1548
Melbourne Victoria 8009
Australia
Australia
Australia Australian Stock Exchange Limited
T +61 3 9656 5300
Computershare Investor Level 4, Stock Exchange Centre
F +61 3 9656 5333
Services Pty Ltd 20 Bridge Street Sydney
E info@oceanagold.com
452 Johnston Street New South Wales 2000
Abbotsford Victoria 3067 Australia
Canadian Office
Australia Ticker symbol: OGC
777 Hornby Street
T +61 3 9415 4000
Suite 1910 Vancouver
F +61 3 9473 2500 New Zealand
British Columbia
NZX Limited
Canada V6Z 1S4
New Zealand Level 2, NZX Centre
Computershare Investor 11 Cable Street Wellington
Directors
Services Limited New Zealand
James E Askew (Chairman)
Level 2, 159 Hurstmere Road
Michael F Wilkes (MD & CEO)
Takapuna North Shore City 0622 Auditors
J Denham Shale
New Zealand PricewaterhouseCoopers
Jose P Leviste, Jr
T +64 9 488 8700 Freshwater Place
Paul Sweeney
F +64 9 488 8787 2 Southbank Boulevard
William H Myckatyn
Southbank Victoria 3006
Dr Geoffrey W Raby
Australia
T +61 3 8603 1000
Company Secretary
F +61 3 8603 1999
Liang Tang

Website
www.oceanagold.com

Twitter
@OceanaGold

Investor Relations
T +1 416 915 3123 (Canada)
T +61 3 9656 5300 (Australia)
E info@oceanagold.com

OceanaGold Fact Book 2015 47

OceanaGold Corporation
Corporate Office
Level 14, 357 Collins Street
Melbourne Victoria 3000
Australia
PO Box 355
Flinders Lane Post Office
Melbourne Victoria 8009
Australia
T +61 3 9656 5300
F +61 3 9656 5333
E info@oceanagold.com
www.oceanagold.com