Day: May 4, 2017

New Gold Inc. today announces that it has commenced an offering of $300 million aggregate principal amount of Senior Notes due 2025. New Gold intends to use the net proceeds from the offering of the Notes, together with cash on hand, to fund the redemption of its outstanding $300 million 7.00% Senior Notes due 2020.

McEwen Mining Inc. is pleased to report consolidated financial results for the first quarter ended March 31, 2017. Increased investments in exploration and project development, particularly related to our Los Azules copper project, were the key feature of the quarter. As a result, the Company reported a net loss of $3.0 million or $0.01 per share and negative cash flow of $8.6. million or $0.03 per share. During the quarter McEwen Mining achieved consolidated production of 29,733 gold equivalent ounces. The Company remains on track to meet production and cost guidance for 2017. The El Gallo mine produced 9,808 gold equivalent ounces and reported earnings from mining operations of $8.2 million and the San José mine produced 19,925 gold equivalent ounces and reported earnings from mining operations of $5.7 million.

“We had a solid start to the year operationally and with stronger production and lower costs expected through the rest of 2017, we are on track to achieve full year guidance across all metrics. We expect this to drive significant free cash flow growth from our operations, especially in the second half of 2017 as we benefit from higher throughput rates at Young-Davidson and initial production from La Yaqui,” said John A. McCluskey, President and Chief Executive Officer.