VANCOUVER,
Feb. 14, 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 "NI
43-101 Feasibility Study of the Rainy River Project, Ontario, Canada" and dated February 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 January 16, 2014, announcing the results of the
Feasibility Study for the Rainy River project. The Report also
provides further information on the project's history, additional
detail on both the technical and financial estimates, as well as an
overview of the regional geology.
The Rainy River project enhances New Gold's
growth pipeline through its manageable capital costs, significant
production scale at below current industry average costs and good
regional exploration potential in a great mining jurisdiction. The
company looks forward to providing further updates on the
advancement of Rainy River
throughout 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 Rainy River 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 costs and scale of the Rainy River project and the
regional exploration potential.
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 Rainy River Feasibility Study, are
discussed in the Technical 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 Rainy River; 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 and other Aboriginal groups; and uncertainties with
respect to obtaining all necessary surface and other land use
rights or tenure for Rainy River.
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.