An anonymous director reports

NEW GOLD CONFIRMS STRUCTURAL INTEGRITY OF NEW AFTON TAILINGS STORAGE FACILITY

New Gold Inc. has confirmed the structural integrity of the New Afton tailings storage facility and has resumed all underground mining activities at its New Afton mine, located in Kamloops, B.C.

As previously mentioned, during regular inspections of the New Afton tailings storage facility (NATSF) completed on Aug. 9, visual geotechnical variances were observed that required further review by the engineer of record (EOR). The company acted promptly, advising the relevant authorities, and pro-actively suspending underground mining activities with health, safety and the well-being of its employees, contractors and communities as its top priority. The EOR completed a thorough review on Aug. 10 and confirmed that the NATSF structural integrity and behaviour are normal and expected.

On the evening of Aug. 10, the company resumed normal underground mining activities on site. Milling operations were unaffected during this period and in-pit tailings deposition continued as planned. New Afton remains well positioned to meet all annual production and cost guidance metrics as set out earlier in the year. C-zone remains well positioned for first production ore in the fourth quarter, with commercial production planned for the second half of 2024.

New Afton conference call and webcast

The company has scheduled a conference call and webcast for Friday, Aug. 11, 2023, at 8 a.m. Eastern Time.

• Participants may listen to the webcast by registering on the company's website.
• Participants may also listen to the conference call by calling North American toll-free 1-888-664-6383, or 1-416-764-8650 outside of the United States and Canada, passcode 565379.
• To join the conference call without operator assistance, you may register and enter your phone number to receive an instant automated call back.
• A recorded playback of the conference call will be available until Sept. 9, 2023, by calling North American toll-free 1-888-390-0541, or 1-416-764-8677 outside of the U.S. and Canada, passcode 565379. An archived webcast will also be available on New Gold's website.

About New Gold Inc.

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.

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