OceanaGold Amends Revolving Credit Facility

OceanaGold Corporation (TSX: OGC / ASX: OGC) (the "Company") is pleased to announce it has amended its existing $200 million Revolving Credit Facility ("Facility") with its banking partners: Scotiabank, Citi, HSBC, Commonwealth Bank of Australia, Natixis and BNP Paribas.

The key changes include the elimination of the 2019 amortisation or "step-down" with the Facility remaining at $200 million, combined with an extension of the Facility now maturing in December 31, 2021. All other conditions remain unchanged and repayment of any drawn amount prior to maturity remains at the Company's discretion.

Mick Wilkes, President and CEO of OceanaGold said, "The amendments to the credit facility reflect the strong confidence that our lenders have in our business. We are pleased to extend our long-standing partnership with our multinational bank group, the majority of whom have partnered with OceanaGold for many years."

"We are excited about our growth opportunities, particularly at the Waihi Gold Mine in New Zealand where we are transitioning from the existing Correnso Underground to the Martha Underground. We expect a 12-month gap in production from when Correnso finishes in early 2020 to the start of production from the new Martha Mine, marking a new era for the bountiful Waihi operation. In addition, the Waihi district study, due out in the first half of 2020, will outline the broader value creation opportunity that exists for investors and other stakeholders."

"We continue to achieve solid exploration results from Martha Underground, where we have grown the Martha Underground resource from zero only a few years ago to 331,000 ounces in M&I and 667,000 in Inferred.  In addition, we are targeting another 8 to 10 million tonnes grading 4 to 6 grams per tonne. Drilling also continues north of Waihi at Wharekirauponga (WKP) where more recently, drilling of the East Graben vein intersected a stunning 25 metres @ 38.7 g/t gold. We expect to release a new expanded resource at WKP in the next few months."

"There is no doubt it has been a challenging year for the Company, but we still have a great business and continue to work hard to deliver the consistent positive performance and returns that we have delivered for so many years."

"In the Philippines we have been working with Government and regulatory authorities on the Financial or Technical Assistance Agreement (FTAA) renewal since March 2018, and our regulators have endorsed the renewal back to the Office of the President, based on our full compliance with the FTAA terms and conditions. Although it has taken some time, we have good engagement and support from the Government of the Philippines and continue to see progress. Our Didipio Mine is a template for responsible mining in the Philippines and globally, delivering exceptional operating performance, safety, environmental performance and support from the local community."

Our Haile Gold Mine is a great asset and we are in the process of making it an outstanding asset. It hasn't been without its challenges however we have strong operational leadership in place that will continue to drive improvements by increasing productivities and reducing our cost base while continuing to expand the mine. We continue to expect higher production and better performance in the fourth quarter at Haile."