Mr. Gerard Bond reports

OCEANAGOLD ANNOUNCES RENEWAL OF SHARE BUYBACK

Oceanagold Corp. has received approval from the Toronto Stock Exchange (TSX) to renew its normal course issuer bid (NCIB), permitting the company to buy back up to approximately 23 million common shares, representing a maximum of 10 per cent of the company's public float, over the next 12 months. As of July 21, 2025, there were a total of 231,121,129 common shares issued and outstanding.

The company believes that the market price of the common shares may not, from time to time, fully reflect their value and accordingly the repurchase of its common shares would be in the best interest of its shareholders.

Over the prior 12 months under the current NCIB, Oceanagold has repurchased $65-million through the buyback, (6.85 million shares at an average price of $13.06 per share on a postconsolidation basis) with $41-million of the board approved $100-million for the full-year 2025 now completed. The remaining $59-million is expected to be deployed in the second half of 2025 under the renewed NCIB. The increased share repurchase limit provides the company increased flexibility to continue share buybacks throughout the remainder of 2025 and the first half of 2026.

Gerard Bond, president and chief executive officer of Oceanagold, said: "Oceanagold is operating from a position of financial strength, with robust free cash flow generation and a strong balance sheet. In alignment with our disciplined capital allocation framework, we are pleased to announce a renewed NCIB program with an increased repurchase limit. This increased limit allows the company to continue utilizing the share buyback program to return value to our shareholders while continuing to invest in our growth and exploration projects across the business."

In connection with the NCIB, the company has entered into an automatic share purchase plan (ASPP) with a designated broker to allow for the repurchase of common shares at times when the company ordinarily would not be active in the market due to its own internal trading blackout periods.

The company has received approval from the TSX, during the 12-month period commencing on July 24, 2025, and ending on or before July 23, 2026, to purchase up to approximately 23 million common shares through the facilities of the TSX and alternative Canadian trading systems. Under the terms of the NCIB, the company may purchase up to a daily maximum of 180,933 common shares (being 25 per cent of the average daily trading volume of 723,735 common shares for the six-month period ended June 30, 2025, in each case on a postconsolidation basis).

The ASPP will terminate on the earliest of the date on which the: (i) purchase limit under the NCIB has been reached; (ii) NCIB expires; and (iii) ASPP otherwise terminates in accordance with its terms. The ASPP constitutes an automatic plan for purposes of applicable Canadian securities legislation and the agreement governing the plan has been precleared by the TSX.

The actual number of common shares that may be purchased and the timing of such purchases will be determined by the company in accordance with applicable laws and the ASPP. Decisions regarding purchases will be based on market conditions, share price, best use of available cash and other factors. Any common shares that are purchased under the NCIB will be cancelled.

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 the company's 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; Didipio mine in the Philippines; and the Macraes and Waihi operations in New Zealand.

We seek Safe Harbor.