Mr. Marius van Niekerk reports

OCEANAGOLD REFINANCES REVOLVING CREDIT FACILITY WITH IMPROVED TERMS

Oceanagold Corp. has refinanced its revolving credit facility. The new facility is supported by a group of seven leading international banks, five of which were part of the previous revolving credit facility.

Key highlights:

• New facility providing committed bank credit totalling $200-million (U.S.), plus a $50-million (U.S.) accordion, replacing the previous facility;
• Four-year facility maturing Dec. 31, 2027;
• Improved commercial terms compared with the previous facility.

Marius van Niekerk, chief financial officer of Oceanagold, said: "We are pleased that a highly reputable and global banking group has committed to provide this new facility which allows us to maintain significant financial flexibility at a lower cost. The new facility right-sizes our liquidity requirements in line with our capital management plan, which recognizes both our projected growth in production and exciting organic growth pipeline."

About Oceanagold Corp.

Oceanagold is a growing intermediate gold and copper producer committed to safely and responsibly maximizing the generation of free cash flow from its operations and delivering strong returns for its shareholders. The company has a portfolio of four operating mines: the Haile gold mine in the United States; the Didipio mine in the Philippines; and the Macraes and Waihi operations in New Zealand.