New Gold Increases Exposure in New Afton Copper/Gold Mine to 80% and Launches US$150 Million Bought Deal Financing

(All dollar figures are in US dollars unless otherwise indicated)

TORONTO, May 13, 2024 (GLOBE NEWSWIRE) -- New Gold Inc. (“New Gold” or the “Company”) (TSX and NYSE American: NGD) is pleased to announce that it has entered into an agreement relating to its strategic partnership with Ontario Teachers’ Pension Plan (“Ontario Teachers’”) at the New Afton Mine (“New Afton”), whereby New Gold will increase its effective free cash flow interest in New Afton to 80.1% (the “Transaction”).

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