VANCOUVER,
Jan. 22, 2014 /CNW/ - New Gold Inc.
("New Gold") (TSX:NGD) and (NYSE MKT:NGD) today announces that the
company has filed a Technical Report (the "Report"), entitled
"Blackwater Gold Project, British
Columbia - NI 43-101 Technical Report on Feasibility Study"
and dated January 14, 2014. The
Report was prepared in compliance with National Instrument 43-101 -
Standards for Disclosure for Mineral Projects and may be
found under the company's profile on SEDAR at www.sedar.com.
The Technical Report supports the disclosure
contained in New Gold's news release issued on December 12, 2013, announcing the results of the
Feasibility Study for the Blackwater project. The Report also
provides further information on the project's history, additional
detail on both the technical and financial estimates, including
base case after-tax analysis, as well as an overview of the
regional geology.
The Blackwater project in British Columbia, Canada adds to the New Gold
pipeline a long-lived, large-scale project with below current
industry average costs and continued regional exploration potential
in a great mining jurisdiction. The company looks forward to
advancing the permitting of Blackwater through 2014.
About New Gold Inc.
New Gold is an intermediate gold mining company. The company has a
portfolio of four producing assets and three significant
development projects. The New Afton Mine in Canada, the Cerro San
Pedro Mine in Mexico, the Mesquite Mine in the United States and
the Peak Mines in Australia provide the company with its current
production base. In addition, New Gold owns 100% of the Blackwater
and Rainy River projects, both in Canada, as well as 30% of the El
Morro project located in Chile. New Gold's objective is to continue
to establish itself as a leading intermediate gold producer,
focused on the environment and sustainability. For further
information on the company, please visit www.newgold.com. |
Cautionary Note Regarding Forward-Looking
Statements
Certain information contained in this news
release, including information relating to expectations or plans
for the Blackwater project may be deemed "forward looking". All
statements in this news release, other than statements of
historical fact, that address events or developments that New Gold
expects to occur are "forward-looking statements". Forward-looking
statements are statements that are not historical facts and are
generally, but not always, identified by the use of forward-looking
terminology such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates",
"projects", "potential", "believes" or variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "should", "might" or "will be taken",
"occur" or "be achieved" or the negative connotation.
Forward-looking statements in this news release primarily relate to
the expected life of the Blackwater project, expected costs,
regional exploration potential and plans for permitting.
All forward-looking statements in this news
release are based on the opinions and estimates of management as of
the date such statements are made and are subject to important risk
factors and uncertainties, many of which are beyond New Gold's
ability to control or predict. Material assumptions regarding our
forward looking statements, including without limitation, the key
assumptions underlying the Blackwater feasibility study, are
discussed in the Report, our annual MD&A, and our AIF.
Forward-looking statements are necessarily based on estimates and
assumptions that are inherently subject to known and unknown risks,
uncertainties and other factors that may cause actual results,
level of activity, performance or achievements to be materially
different from those expressed or implied by such forward-looking
statements. Such factors include, without limitation: significant
capital requirements; fluctuations in the international currency
markets and in the rates of exchange of the currencies of
Canada and the United States; discrepancies between
actual and estimated production, between actual and estimated
reserves and resources and between actual and estimated
metallurgical recoveries; changes in national and local government
legislation in Canada; taxation;
controls, regulations and political or economic developments in
Canada; the speculative nature of
mineral exploration and development, including the risks of
obtaining and maintaining the validity and enforceability of the
necessary licenses and permits and complying with the permitting
requirements; additional funding requirements; rising costs of
labour, supplies, fuel and equipment; actual results of current
exploration activities; uncertainties inherent to mining economic
studies including the feasibility study for Blackwater; changes in
project parameters as plans continue to be refined; defective title
to mineral claims or property or contests over claims to mineral
properties; unexpected delays and costs inherent to consulting and
accommodating rights of First Nations. In addition, there are risks
and hazards associated with the business of mineral exploration,
development and mining, including environmental events and hazards,
industrial accidents, unusual or unexpected formations, pressures,
cave-ins, flooding and gold bullion losses (and the risk of
inadequate insurance or inability to obtain insurance to cover
these risks) as well as "Risk Factors" included in New Gold's
disclosure documents filed on and available at www.sedar.com.
Forward-looking statements are not guarantees of future
performance, and actual results and future events could materially
differ from those anticipated in such statements. All of the
forward-looking statements contained in this news release are
qualified by these cautionary statements. New Gold expressly
disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information,
events or otherwise, except in accordance with applicable
securities laws.
SOURCE New Gold Inc.