DAILY NEWS Feb 5, 2013 4:29 PM - 0 comments

GOLD: First year results for New Afton mine

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BRITISH COLUMBIA – Vancouver-based New Gold has released its 2012 operating results and 2013 guidance, including for the first time the output of the New Afton mine 10 km west of Kamloops. The New Afton mine produced 36,800 oz of gold and 28.5 million lb of copper in 2012. Output resumed at the former producer in June 2012.

Gold production from all four of New Gold's mines – Mesquite in the United States, Cerro San Pedro in Mexico, Peak in Australia and New Afton – totalled 411,900 oz in 2012. New Gold is also credited with 1.9 million oz of silver and a total of 42.7 million lb of copper last year.

In 2013 New Gold is targeting a further 12% rise in gold production to between 440,000 and 480,000 oz. Copper production is expected to double as the New Afton mill reaches 12,000 t/d. Sustained throughput at the New Afton mill will drive total cash costs per ounce of gold sold down to between $265 and $285 per oz. Next year will also see additional drill results from the C zone New Afton and the completion of the Blackwater feasibility study. The Blackwater gold-silver property is 150 km south of Vanderhoof, BC.

Visit the New Gold website at NewGold.com.

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