TORONTO, July 31,
2024 /CNW/ - New Gold Inc. ("New Gold" or the
"Company") (TSX: NGD) (NYSE American: NGD) is pleased to
announce that Richard O'Brien has
been appointed as Chair of the Board effective August 1, 2024. Mr. O'Brien was appointed to the
Board of Directors on March 25, 2024,
where it was announced that he was expected to transition into the
Chair role. As previously disclosed, Ian
Pearce will retire from the Board of Directors effective
August 1, 2024.
"On behalf of the Board and New Gold, I would like to express
my gratitude to Ian not only for his eight years of dedication and
commitment to the Board of Directors, but also for his assistance
during this transition period over the last four months," said
Richard O'Brien, Chair of the Board.
"New Gold is well positioned to take advantage of this significant
free cash flow period, as we pursue our goal of being a miner of
choice, and a leading intermediate gold producer."
"I would like to thank Ian for his tremendous support and
guidance during my tenure as CEO at New Gold," said Patrick Godin, President & CEO. "We are
grateful for the wealth of experience and dedication he brought to
the Board and this will help serve as the foundation for the
Company's future success."
About New Gold
New Gold is a Canadian-focused intermediate mining company with
a portfolio of two core producing assets in Canada, the Rainy River gold mine and the New
Afton copper-gold mine. The Company also holds other
Canadian-focused investments. New Gold's vision is to build a
leading diversified intermediate gold company based in Canada that is committed to the environment
and social responsibility. For further information on the Company,
visit www.newgold.com.
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in this news release, including
any information relating to New Gold's future financial or
operating performance are "forward-looking". All statements in this
news release, other than statements of historical fact, which
address events, results, outcomes or developments that New Gold
expects to occur are "forward-looking statements". Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by the use of forward-looking
terminology such as "plans", "expects", "is expected", "budget",
"scheduled", "targeted", "estimates", "forecasts", "intends",
"anticipates", "projects", "potential", "believes" or variations of
such words and phrases or statements that certain actions, events
or results "may", "could", "would", "should", "might" or "will be
taken", "occur" or "be achieved" or the negative connotation of
such terms. Forward-looking statements in this news release
include, among others, statements with respect to: successfully
taking advantage of the anticipated free cash flow period; and
expectations regarding the future success of the Company.
All forward-looking statements in this news release are based on
the opinions and estimates of management that, while considered
reasonable as at the date of this news release in light of
management's experience and perception of current conditions and
expected developments, are inherently subject to important risk
factors and uncertainties, many of which are beyond New Gold's
ability to control or predict. Certain material assumptions
regarding such forward-looking statements are discussed in this
news release, New Gold's latest annual management's discussion and
analysis ("MD&A"), its most recent annual information form and
technical reports on the Rainy River Mine and New Afton Mine filed
on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. In
addition to, and subject to, such assumptions discussed in more
detail elsewhere, the forward-looking statements in this news
release are also subject to the following assumptions: (1) there
being no significant disruptions affecting New Gold's operations,
including material disruptions to the Company's supply chain,
workforce or otherwise; (2) political and legal developments in
jurisdictions where New Gold operates, or may in the future
operate, being consistent with New Gold's current expectations; (3)
the accuracy of New Gold's current Mineral Reserve and Mineral
Resource estimates and the grade of gold, silver and copper
expected to be mined; (4) the exchange rate between the Canadian
dollar and U.S. dollar, and to a lesser extent, the Mexican Peso,
and commodity prices being approximately consistent with current
levels and expectations for the purposes of 2024 guidance and
otherwise; (5) prices for diesel, natural gas, fuel oil,
electricity and other key supplies being approximately consistent
with current levels; (6) equipment, labour and materials costs
increasing on a basis consistent with New Gold's current
expectations; (7) arrangements with First Nations and other
Indigenous groups in respect of the New Afton Mine and Rainy River
Mine being consistent with New Gold's current expectations; (8) all
required permits, licenses and authorizations being obtained from
the relevant governments and other relevant stakeholders within the
expected timelines and the absence of material negative comments or
obstacles during the applicable regulatory processes; and (9) the
results of the life of mine plans for the Rainy River Mine and the
New Afton Mine being realized.
Forward-looking statements are necessarily based on estimates
and assumptions that are inherently subject to known and unknown
risks, uncertainties and other factors that may cause actual
results, level of activity, performance or achievements to be
materially different from those expressed or implied by such
forward-looking statements. Such factors include, without
limitation, the "Risk Factors" included in New Gold's most recent
annual information form, MD&A and other disclosure documents
filed on and available on SEDAR+ at www.sedarplus.ca and on EDGAR
at www.sec.gov. Forward looking statements are not guarantees of
future performance, and actual results and future events could
materially differ from those anticipated in such statements. All
forward-looking statements contained in this news release are
qualified by these cautionary statements. New Gold expressly
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
events or otherwise, except in accordance with applicable
securities laws.
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SOURCE New Gold Inc.