Mr. Patrick Godin reports

NEW GOLD ADVISES OF SENIOR MANAGEMENT CHANGE

Yohann Bouchard and New Gold Inc. have mutually decided to part ways. Mr. Bouchard's last day as executive vice-president and chief operating officer was Jan. 31, 2025. New Gold thanks Mr. Bouchard for his contribution and wishes him well with his future endeavours.

"I thank Yohann for his contribution to New Gold during his tenure," stated Patrick Godin, president and chief executive officer. "Since joining the company in April, 2023, we achieved significant milestones and successfully advanced our operations through the free cash flow inflection point in mid-2024. With this transition, it creates for us an opportunity for new operational leadership. I am excited to present New Gold's operational outlook and updated technical reports later this month and illustrate our ability to maximize our free cash flow generation in the years to come."

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. 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.