Vancouver – September 24, 2026 -- OceanaGold Corporation (TSX: OGC) (NYSE: OGC) reported new drill results from its Wharekirauponga project in New Zealand, including an intercept of 6.3 metres grading 97.2 g/t gold, among the highest-grade results returned to date at the deposit.
Sixteen new holes confirm high-grade continuity at Wharekirauponga's East Graben Vein
The 16 holes, completed since an April 1, 2026 update, targeted the East Graben (EG) Vein and adjacent Hanging Wall (HW) structures. Results included 8.5 m at 41.5 g/t gold from 399.0 metres depth, 9.6 m at 18.5 g/t gold from 401.0 metres, and 6.6 m at 24.0 g/t gold including a 1.2 m section at 107.7 g/t gold. The company said the intercepts extend the southern high-grade zone up-dip and along strike, an area currently outside reported reserves.
Company evaluates plant expansion to 1.2 Mtpa to run two underground mines concurrently
OceanaGold is assessing a processing plant expansion to 1.2 million tonnes per annum, up from the 0.8 Mtpa contemplated in its prior technical report. The change would support continued mining at the Martha Underground mine beyond 2033 while Wharekirauponga Underground ramps into production in 2032, allowing simultaneous processing of ore from both sites. Findings will be incorporated into an updated NI 43-101 technical report on the Waihi District due in January 2027, which will include revised Mineral Reserve and Resource estimates.
Five drill rigs now active as company pushes toward southern high-grade zone
The drill fleet at Wharekirauponga has expanded to five rigs, supported by a new Drill Site 10 positioned to target the open southern zone. CEO Gerard Bond said the results confirm "exceptional grade and continuity" in the EG Vein zone and noted the deposit remains open in multiple directions. The company said drilling supports a potential upgrade of a substantial portion of the southern high-grade zone from Inferred to Indicated Mineral Resources, which is expected to feed into an increase in Mineral Reserves in the 2026 year-end statement.
Decline development advances 350 metres as Waihi North construction proceeds on schedule
Underground decline development at the Waihi North Project, which began in May 2026, has advanced approximately 350 metres. Construction of the first ventilation shaft is underway, with a second jumbo planned for the first half of 2027 to begin twin-tunnel development toward the Wharekirauponga orebody. Water management infrastructure at the Willows Portal site, including sedimentation ponds, haul roads, a waste rock stack and magazine, is complete, with surface facilities on track for year-end completion. The water treatment plant began staged commissioning in September 2026, and early works on a new tailings storage facility are expected to start in the fourth quarter of 2026.