Oceanagold Corporation · TSX:OGC

Oceanagold — Investor Presentation (September 2011)

26 slides from Oceanagold's investor presentation, September 2011

1. Slide 1: Corporate Presentation

   Corporate Presentation September 2011

2. Slide 2: Cautionary Notes

   Cautionary Notes Cautionary Notes - Information Purposes Only The information contained in this presentation is provided by OceanaGold Corporation (“OGC”) for informational purposes only and does not constitute an offer to issue or arrange to issue, or the solicitation of an offer to issue, securiti

3. Slide 3: Corporate Overview

   Corporate Overview Market Overview (15 September 2011) Market Capitalisation ~US$700m Shares Outstanding 262.6m Non-listed Options 7.7m Average Daily Trading Volume (last 90 days) 1.6m Financial Overview (As at 30 June 2011) Cash US$193m Convertible Bonds* A$163m A$53M 5.75% Dec 2012 A$110M 7.0% Dec

4. Slide 4: OceanaGold Vision 2016

   OceanaGold Vision 2016  High performing, growth orientated, Asia Pacific gold company  Explore, develop and operate quality assets in a safe & sustainable manner Our Vision 2016 Enablers  Superior returns to shareholders  Innovative team culture  Annual production of 600Koz gold  Acting on opp

5. Slide 5: OceanaGold Investment Proposition

   OceanaGold Investment Proposition EXPERIENCED GOLD PRODUCER ORGANIC GROWTH STRATEGY ASIA PACIFIC FOCUS  Solid production growth with declining cash cost profile  Largest gold producer in New Zealand  Construction commenced of high grade gold - copper porphyry in Philippines to commission in Q4 20

6. Slide 6: Organic Growth Potential

   Organic Growth Potential Project Development Drilling Scoping Feasibility Development Production Macraes Measured Didipio expansion Didipio Frasers Indicated Macraes Superpit Reefton Inferred Blackwater Greenfield Underground Big River Open Pit 6 Note: Conceptual growth potential

7. Slide 7: Production Growth Potential

   Production Growth Potential Our Vision: 600Koz gold production by 2016 700 600 500 Gold Production Koz 400 300 200 100 0 2011E 2012E 2013E 2014E 2015E 2016E Didipio Stage II Blackwater Big River Macraes Superpit Didipio Reef ton Macraes Goldf ields 7 Note: Conceptual growth potential

8. Slide 8: Current Producing Assets

   Current Producing Assets Successful long term presence in New Zealand Macraes Frasers Reefton Macraes Frasers Reefton Mine Type Open Pit Underground Open Pit Resources1 Gold (Moz) 4.31 0.90 1.20 Reserves1 Gold (Moz) 1.53 0.15 0.47 Estimated Mine Life ~2019 ~2014 ~2015 - 2017 Gold Production (ounces)

9. Slide 9: Didipio Gold/Copper Project

   Didipio Gold/Copper Project Construction commenced June 2011  Mine life: 16 years  Annual production 100Koz Au + 14Kt Cu (LOM Av.)  Gold reserves 1.68Moz  Copper reserves 229Kt  Ore reserves 50.7Mt @ 1.03g/t Au and 0.45% Cu  Years 1-6: Negative cash cost of US$(79)/oz Au  LOM: Cash cost US$35

10. Slide 10: Didipio Project Key Milestones

    Didipio Project Key Milestones On track to commission Q4 2012, full year production 2013 2011 2012 Q2 Q3 Q4 Q1 Q2 Q3 Q4 ` • Construction • Construction • First concrete • Mining commences • Long lead time items • First ore in mills commenced camp pour for • Peak construction mobilised on site • Comm

11. Slide 11: Didipio: Construction Progress

    Didipio: Construction Progress July: Road upgrade progressing well July: Accommodation sites nearing completion July: Process site preparation August: Ball mill shells being transferred from August: Roadside gabion work Singapore to Manila August: Construction office fit out 11

12. Slide 12: Didipio Stage II Concept

    Didipio Stage II Concept 6 300  Increase plant from 5 250 3.5Mtpa to 5Mpta Throughput Mtpa 4 200  Nominal production Gold Koz 3 150 rate 2 100 1 50  150koz Gold 0 0  20kt Copper 2013E 2014E 2015E 2016E Throughput Gold Production Total Gold Equivalent Production  Add ball mills, flotation, power

13. Slide 13: Significant Near Mine Exploration Potential

    Significant Near Mine Exploration Potential Drilling program to commence end 2011  Additional porphyry systems in the exploration lease  Multiple drilling targets  Exploration team established in country  Forecast $5-10M p.a. 13

14. Slide 14: Culture of Sustainability & Community Engagement

    Culture of Sustainability & Community Engagement Delivering long term sustainable benefits to local communities  Commitment to sustainability beyond life of mine is a key objective  >20 years community and environmental track record in New Zealand  Actively delivering health, environmental, socia

15. Slide 15: Macraes Superpit Concept

    Macraes Superpit Concept  Larger open pit  New Process plant  Higher mining rate and plant throughput  Lower unit operating costs  Possible Reserve increase to +2.6Moz  Additional production circa 100koz p.a. + tungsten bi-product  Significant potential for defining additional open pitable or

16. Slide 16: Frasers Underground – It Keeps Growing

    Frasers Underground – It Keeps Growing Step out surface drilling continues to be successful intersecting mineralisation down-dip Lower zone of mineralisation approx 25 metres below Panel 2 extension discovered in 2010 16

17. Slide 17: Reefton – Enormous Potential in an Historic District

    Reefton – Enormous Potential in an Historic District  30km strike length of goldfield  10 million oz mined historically  Reserves up 28% in 2010  High priority targets identified from new geological models 17

18. Slide 18: Blackwater Project

    Blackwater Project  5km decline from surface  Narrow vein mining  Process at Reefton plant  Drilling commencing Q4 2011  Definitive feasibility study 2013  Construction from 2014 – 2 years  Potential production 50koz p.a. @sub $600/oz 18

19. Slide 19: Big River Discovery

    Big River Discovery  Significant high grade mineralisation intersected  Strong potential for BR008, 1.2 m @ 12.1 g/t vertical extent BR003, 1.1 m @ 1.6 g/t BR004, 15.1 m @ 8.18 g/t  Close to existing plant BR006, 0.5 m @ 1.49 and infrastructure at g/t BR005, 4 m @ 3.18 g/t Reefton BR009 BR007, 0.

20. Slide 20: Experienced Management Team

    Experienced Management Team Mick Wilkes MD & Chief Executive Officer Martyn Creaney Project Director Philippines • 27 years industry experience • >30 years construction and project management • Developed major projects in Australia and SE Asia mainly in mining industry • Strong Operations background

21. Slide 21: OceanaGold: Innovation, Performance & Growth

    Qy OCEANAGOLD INNOVATION, PERFORMANCE & GROWTH

22. Slide 22: Mineral Resources and Reserves

    Mineral Resources and Reserves RESOURCE MEASURED INDICATED MEASURED & INDICATED INFERRED RESOURCE AREA Mt Au g/t Au Moz Cu % Cu Mt Mt Au g/t Au Moz Cu % Cu Mt Mt Au g/t Au Moz Cu % Cu Mt Mt Au g/t Au Moz Cu % Cu Mt MACRAES TOTAL 27.16 1.36 1.18 . . 78.42 1.08 2.72 . 105.58 1.15 3.90 . . 37.6 1.1 1.3

23. Slide 23: Financial Summary

    Financial Summary Q2 2011 Q1 2011 Q2 2010 FY2010 Statement of Operations Revenue US$m 94.8 90.7 80.2 305.6 EBITDA1 US$m 33.0 44.0 39.2 139.5 Operating profit / (Loss)1 US$m 13.9 24.4 21.0 71.8 Net Earnings / (Loss) US$m 4.1 14.8 8.0 44.4 Operations snapshot Gold Produced oz 61,335 65,671 67,347 268,

24. Slide 24: Q2 2011: Pro forma net cash flow per ounce sold

    Q2 2011: Pro forma net cash flow per ounce sold Per ounce Au sold Q2 2011 Q1 2011 YTD 2011 Average Gold Price Rec’d $1,546 $1,401 $1,471 Cash Cost reported $921 $687 $801 Pre strip cash expenditure $165 $256 $212 capitalised to Balance Sheet Total Cost/oz (incl pre-strip ) $1,086 $943 $1,013 Pro for

25. Slide 25: Q2 2011: A closer look at cash costs Q1 vs Q2

    Q2 2011: A closer look at cash costs Q1 vs Q2 Cash Cost (US$/oz) Analysis - Q1 2011 v Q2 2011 950 16 45 900 65 850 800 108 750 700 650 600 687 921 550 500  Increase of reported cash cost to $921 / oz for Q2  Lower levels of pre strip capitalised to Balance Sheet (ie higher allocation of cash spend

26. Slide 26: Q2 2011: Costs in NZD

    Q2 2011: Costs in NZD Q2 2011 Q1 2011 H1 2011 NZD per tonne milled $36 $31 $34  Updated mine plan based on new resource modelling at Macraes  Mining cost in local currency (NZD) up 16% mainly due to  Decrease in capitalised pre-strip  Lower productivity at Reefton  Ramp up of mining rates will

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