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29 April 2021 OCEANAGOLD Highlights MEDIA RELEASE OCEANAGOLD REPORTS FIRST QUARTER 2021 FINANCIAL RESULTS ( All financial figures in US Dollars unless otherwise stated ) ( BRISBANE ) OceanaGold Corporation ( TSX : OGC ) ( ASX : OGC ) ( the " Company " ) reported its financial and operational results for the quarter ended March 31 , 2021. Details of the consolidated financial statements and the Management Discussion and Analysis ( " MD & A " ) are available on the Company's website at www.oceanagold.com ● First quarter consolidated gold production of 83,191 ounces at consolidated All - In Sustaining Costs ( " AISC " ) of $ 1,229 per ounce on sales of 82,847 ounces of gold . Total immediate available liquidity of $ 195.5 million , including $ 145.5 million of cash and $ 50 million in undrawn credit facilities . First quarter revenue of $ 148.9 million with adjusted Earnings before Interest , Depreciation and amortisation ( " EBITDA " ) of $ 66.5 million ; adjusted net earnings of $ 21.8 million or $ 0.03 per share . Operating cash flow of $ 47.6 million in the first quarter with fully diluted cash flow per share before working capital movements of $ 0.09 per share . ● Announced an increase to Gold Proven and Probable Reserves of 0.75Moz and Measured and Indicated Resources of 0.66Moz ; first reserves of 0.62Moz declared at Martha Underground . Advanced organic growth projects , including development of 2,311 metres at Waihi’s Martha Underground and progressed the main access and ventilation declines for Golden Point Underground at Macraes . ● Full year 2021 guidance reaffirmed . Michael Holmes , President and CEO of OceanaGold said , " First quarter 2021 results demonstrate our determination to deliver on our commitments . Despite one - off milling challenges at Haile and Macraes , the ingenuity of our teams ensured we delivered on first quarter expectations , and we remain on - track to achieve full year 2021 guidance . At Haile , the operation delivered record total mining movements during the first quarter and quickly identified , evaluated , and resolved disruptions to milling . At Macraes , despite failure of one of our mill motors that slowed throughputs , the operation produced just under 35,000 gold ounces during the quarter , and full year guidance remains unchanged . "