Resource Increased by 97% oz of gold

Oceana Gold reports significant increase in

mineral resources at Waihi in New Zealand

Oceana Gold Corporation announces an updated Mineral Resource estimate for the Martha Underground Project and recent exploration results highlighting continued high-grade gold intersections at the Company's Waihi Gold Mine located in New Zealand. Oceana Gold said, increased total Indicated Resource by 136% to 331,000 ounces of gold. Inferred indicated that increased total Resource of Waihi Gold Mine by 97% to 667,000 ounces of gold.

Mick Wilkes, President and CEO, "I am very pleased to announce a further increase to the mineral resource estimate for the Martha Underground Project. Over the past two years, we have made prudent investments in extensively drilling out the mineralised structures beneath the Martha Open Pit. Since that time, we have reported dozens of significant drill intercepts and a growing resource which has now culminated into an Indicated Resource of 331,000 ounces of gold and Inferred Resource of 667,000 ounces."

"The consenting (permitting) process was completed nearly a month ago and we continue to add significant resources as we seek to achieve our exploration targets. We are in the process of implementing the project development and mine plans. Once fully developed and ramped-up, production from the Martha Underground is expected to increase total output at historical levels and it would delivering significant socio-economic benefits to New Zealand."

The intersection of high-grade mineralisation to date supports the exploration target reported in August 2018 with a potential volume of between 5 million and 8 million tonnes. This exploration target is based on the assessment of surface and underground drilling data collected by the Company in addition to the significant amount of historical and archived geological and mining data from over a century of mining activity at Waihi.