Wharekirauponga Mine Permitted For Development & Operation

VANCOUVER – OceanaGold Corporation announced permit approval for the Waihi North Project (WNP) has released a final decision approving the project.The Company is now officially permitted to develop and operate WNP, which includes the high-grade Wharekirauponga Underground mine (WUG), located ~10 kilometres (“km”) North of the Company’s Waihi operation in New Zealand. This permit approval includes the development of WUG and the associated surface infrastructure, expansion of the current processing plant and water treatment plant and construction of a new tailings storage facility. This marks a significant milestone for OceanaGold which has been many years in the making and sets the stage for transformative growth in New Zealand.

The OceanaGold Board has approved the selection of the mining contractor for the tunnelling of the underground mine, plus the awarding of contracts for bulk earthworks at the Willows portal site and a power upgrade project. The mining contractor is expected to mobilize and begin tunnelling in the first half of 2026.

The permit also allows an increase in the number of exploration drill pads and a doubling of the allowable drill rigs to six, which will allow the Company to further accelerate both definition and conversion drilling at Wharekirauponga in 2026 and beyond.

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

We are grateful for the approval of this regionally significant project, for which we have done considerable work to ensure its compliance with all requirements of New Zealand’s rigorous environmental laws. The development of WNP will provide meaningful gold production for years to come while bringing substantial investment, job creation, and economic and biodiversity benefits for the surrounding communities and New Zealand. We are in a strong net cash position and expect to internally fund WNP over the coming years, as well as progress our other organic growth opportunities while generating strong returns for shareholders.”