OCEANAGOLD ANNOUNCES PUBLICATION OF THE HAILE SUPPLEMENTARY ENVIRONMENTAL IMPACT STATEMENT

/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES/

BRISBANE, Australia, Aug. 19, 2022 /CNW/ - OceanaGold Corporation (TSX: OGC) (ASX: OGC) ("OceanaGold" or the "Company") is pleased to announce that the United States Army Corp of Engineers ("ACOE") has published the Supplementary Environmental Impact Statement ("SEIS") for the Haile Gold Mine ("Haile") located in Kershaw, South Carolina.

The SEIS is now in a 30-day public comment period, after which there is a 15-day review period before the final SEIS Record of Decision ("ROD") is then scheduled to be issued. The Company is of the view that the comment period and the review period are unlikely to result in a change to the SEIS. The Company anticipates the South Carolina Department of Health and Environmental Control and ACOE will issue the associated permits shortly after the ROD is finalized and their permit process is complete.

The ROD and related permits are required to commence development of the Haile underground mine and to expand the operating footprint to allow for additional potentially-acid-generating waste containment facilities, overburden facilities and expanded tailings storage facility.

Gerard Bond, President and CEO of OceanaGold, stated, "The publishing of the SEIS is an important step towards finalizing this process and receiving the related operating permits that will allow commencement of the development of the underground mine, increase Haile's gold production and help unlock the full value of Haile."

Authorized for release to the market by Company Secretary, Liang Tang.

www.oceanagold.com  |   Twitter: @OceanaGold

About OceanaGold

OceanaGold is a multinational gold producer committed to the highest standards of technical, environmental and social performance. For 30 years, we have been contributing to excellence in our industry by delivering sustainable environmental and social outcomes for our communities, and strong returns for our shareholders. Our global exploration, development, and operating experience has created an industry-leading pipeline of organic growth opportunities and a portfolio of established operating assets including Didipio Mine in the Philippines; Macraes and Waihi operations in New Zealand; and Haile Gold Mine in the United States of America.

Cautionary Statement for Public Release

Certain information contained in this public release may be deemed "forward-looking" within the meaning of applicable securities laws. Forward-looking statements and information relate to future performance and reflect the Company's expectations regarding the generation of free cash flow, execution of business strategy, future growth, future production, estimated costs, results of operations, business prospects and opportunities of OceanaGold Corporation and its related subsidiaries. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those expressed in the forward-looking statements and information. They include, among others, the accuracy of mineral reserve and resource estimates and related assumptions, inherent operating risks and those risk factors identified in the Company's most recent Annual Information Form prepared and filed with securities regulators which is available on SEDAR at www.sedar.com under the Company's name. There are no assurances the Company can fulfil forward-looking statements and information. Such forward-looking statements and information are only predictions based on current information available to management as of the date that such predictions are made; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control. Although the Company believes that any forward-looking statements and information contained in this press release is based on reasonable assumptions, readers cannot be assured that actual outcomes or results will be consistent with such statements. Accordingly, readers should not place undue reliance on forward-looking statements and information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements and information, whether as a result of new information, events or otherwise, except as required by applicable securities laws. The information contained in this release is not investment or financial product advice.

SOURCE OceanaGold Corporation

Investor Relations: Brian Martin, Senior Vice President, Business Development & Investor Relations, Tel: [phone], [email protected]; Sabina Srubiski, Director, Investor Relations, Tel: [phone], [email protected]; Media Relations: Anita Kharbanda, Acting Group Manager, Communications, Tel: [phone], [email protected]