Corporate Presentation June 2012
2 Corporate Presentation | June 2012 2
Cautionary statement
All monetary amounts in U.S. dollars unless otherwise stated
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this presentation, including any information relating to New Gold's future financial or operating performance may be deemed "forward looking". All statements
in this presentation, 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. All such forward-looking statements 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.
Forward-looking statements are necessarily based on estimates and assumptions (including that the business of various transactions will be integrated successfully in the New Gold
organization) 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, the United States, Australia, Mexico and Chile; price volatility in the spot and forward markets for commodities;
impact of any hedging activities, including margin limits and margin calls; 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, the United States, Australia, Mexico and Chile or any other country in
which New Gold currently or may in the future carry on business; taxation; controls, regulations and political or economic developments in the countries in which New Gold does or may carry
on business; 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 of each jurisdiction that New Gold operates, including, but not limited to, Mexico, where New Gold is involved with ongoing challenges
relating to its environmental impact statement for the Cerro San Pedro Mine and to Chile where there are challenges related to the environmental permit for the El Morro Project; the lack of
certainty with respect to the Mexican, Chilean and other foreign legal systems, which may not be immune from the influence of political pressure, corruption or other factors that are
inconsistent with the rule of law; the uncertainties inherent to current and future legal challenges the company is or may become a party to, as well as the third party claim related to the El
Morro transaction with respect to New Gold's exercise of its right of first refusal on the El Morro copper-gold project in Chile and its partnership with Goldcorp Inc., which transaction and third
party claim were announced by New Gold in January 2010; diminishing quantities or grades of reserves; competition; loss of key employees; additional funding requirements; actual results of
current exploration or reclamation activities; changes in project parameters as plans continue to be refined; accidents; labour disputes; defective title to mineral claims or property or contests
over claims to mineral properties. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental 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 presentation 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.
3 Corporate Presentation | June 2012 3
Cautionary statement (cont’d)
CAUTIONARY NOTE TO U.S. READERS CONCERNING ESTIMATES OF MEASURED, INDICATED AND INFERRED RESOURCES
Information concerning the properties and operations discussed in this presentation has been prepared in accordance with Canadian standards under applicable Canadian securities laws, and
may not be comparable to similar information for United States companies. The terms "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource" and "Inferred Mineral
Resource" used in this presentation are Canadian mining terms as defined in accordance with NI 43-101 under guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum
("CIM") Standards on Mineral Resources and Mineral Reserves adopted by the CIM Council on December 11, 2005. While the terms "Mineral Resource", "Measured Mineral Resource",
"Indicated Mineral Resource" and "Inferred Mineral Resource" are recognized and required by Canadian regulations, they are not defined terms under standards of the United States
Securities and Exchange Commission. Under United States standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization
could be economically and legally produced or extracted at the time the reserve calculation is made. As such, certain information contained in this presentation concerning descriptions of
mineralization and resources under Canadian standards is not comparable to similar information made public by United States companies subject to the reporting and disclosure requirements
of the United States Securities and Exchange Commission. An "Inferred Mineral Resource" has a great amount of uncertainty as to its existence and as to its economic and legal feasibility. It
cannot be assumed that all or any part of an "Inferred Mineral Resource" will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not
form the basis of feasibility or other economic studies. Readers are cautioned not to assume that all or any part of Measured or Indicated Resources will ever be converted into Mineral
Reserves. Readers are also cautioned not to assume that all or any part of an "Inferred Mineral Resource" exists, or is economically or legally mineable. In addition, the definitions of "Proven
Mineral Reserves" and "Probable Mineral Reserves" under CIM standards differ in certain respects from the standards of the United States Securities and Exchange Commission.
TECHNICAL INFORMATION
The scientific and technical information in this presentation has been reviewed by Mark Petersen, a Qualified Person under National Instrument 43-101 and employee of New Gold.
TOTAL CASH COST
“Total cash cost” per ounce figures are calculated in accordance with a standard developed by The Gold Institute, which was a worldwide association of suppliers of gold and gold products
and included leading North American gold producers. The Gold Institute ceased operations in 2002, but the standard is widely accepted as the standard of reporting cash cost of production in
North America. Adoption of the standard is voluntary and the cost measures presented may not be comparable to other similarly titled measures of other companies. New Gold reports total
cash cost on a sales basis. Total cash cost includes mine site operating costs such as mining, processing, administration, royalties and production taxes, but is exclusive of amortization,
reclamation, capital and exploration costs. Total cash cost is reduced by any by-product revenue and is then divided by ounces sold to arrive at the total by-product cash cost of sales. The
measure, along with sales, is considered to be a key indicator of a company’s ability to generate operating earnings and cash flow from its mining operations. This data is furnished to provide
additional information and is a non-IFRS measure. Total cash cost presented does not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures
presented by other mining companies. It should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and is not necessarily indicative
of operating costs presented under IFRS. A reconciliation will be provided in the MD&A accompanying the quarterly financial statements.
4 Corporate Presentation | June 2012 4
Overview
Leading intermediate gold producer
Three producing assets
Three fully-funded growth projects
C$4.5 billion market capitalization
$326 million in cash(1)
Strong Board and Management
History of accretive growth
Notes: 1. Cash balance as at March 31, 2012 adjusted for net proceeds of $300 million notes offering after redemption of senior secured notes and related costs.
5 Corporate Presentation | June 2012 5
Management and Board of Directors
EXECUTIVE MANAGEMENT TEAM BOARD OF DIRECTORS
• Board and Management hold 15 million
shares of Company
– ~$145 million investment
Randall Oliphant, Executive Chairman
Robert Gallagher, President & CEO
Brian Penny, Executive VP and CFO
James Estey, Former Chairman UBS Securities Canada
Robert Gallagher, President & CEO
Vahan Kololian, Founder Terra Nova Partners
Martyn Konig, Former Executive Chairman European Goldfields
Pierre Lassonde, Chairman Franco-Nevada
Randall Oliphant, Executive Chairman
Raymond Threlkeld, CEO Rainy River Resources
6 Corporate Presentation | June 2012 6
Operating assets
Diversified asset portfolio(1)
Gold Reserve
7.9 Moz
Development projects
Notes: 1. Refer to Appendix 6 for detailed disclosure on Reserve and Resource calculations. Measured and Indicated Resources inclusive of Reserves, and Capoose Indicated Resources of 384koz.
2. Represents New Gold’s attributable 30% share of Reserves and Resources.
Peak Mines
Cerro San Pedro
El Morro(2)
New Afton
Blackwater
Mesquite
M&I Resource(1)
18.8 Moz
7 Corporate Presentation | June 2012 7
$566
$465$418
$446$410-430
$0
$100
$200
$300
$400
$500
$600
233
302
383 387405-445
0
50
100
150
200
250
300
350
400
450
Operational execution
Notes: 1. Refer to Cautionary Statement and note on Total cash cost.
2. 2009 and 2008 costs shown based on Canadian GAAP.
Gold production(1) (000s ounces)
Total cash cost(1)(2) ($/oz)
2008
Actual
2009
Guidance
2009
Actual
2010
Guidance
2010
Actual
2008
Actual
2009
Guidance
2009
Actual
2010
Guidance
2010
Actual
2011
Guidance
2011
Actual
2011
Actual
2011
Guidance
2012
Guidance
2012
Guidance
8 Corporate Presentation | June 2012 8
$566
$465
$418
$446
$410-$430
$464$478
$557
$643
2008 2009 2010 2011 2012E
Cost trends: New Gold versus industry(1)(2)
Notes: 1. Industry data per GFMS reports calculated net of by-product credits.
2. Refer to Cautionary Statement and note on Total cash cost.
Gold price
(US$/oz)
$700
$600
$500
$300
$400 To
tal C
ash
Co
sts
(U
S$/o
z)(
2)
$297 Margin
(US$/oz)
$863
$1,014
$1,460 +69%
+241%
New Gold provides leverage to gold price
9 Corporate Presentation | June 2012 9
32.7
40.8
$0.26
$0.48 $0.53
2009 2010 2011
$0.12
$0.30
$0.44
2009 2010 2011
Track record of per share growth outperforming gold
Adjusted earnings per share Net cash generated from operations per share
Net asset value per share(1)(2) Measured & Indicated gold resource per 1,000 shares(3)
$2.46
$6.68
$11.02
12/31/10 12/31/11 6/1/09 12/31/10 12/31/11
Notes: 1. Net asset value as at June 1, 2009 based on New Gold and Western Goldfields business combination.
2. Based on average of consensus net asset value per share ascribed by analysts covering New Gold.
3. Measured and Indicated gold resource shown inclusive of reserves.
267% 104%
25%
348%
Average gold price increased by 62% from 2009 through 2011
10 Corporate Presentation | June 2012 10
2012 guidance
Notes: 1. Refer to Cautionary Statement and note on Total cash cost.
Gold production(1)
405 - 445Koz
Total cash cost(1)
$410 - $430/oz
2012 cash cost estimate assumes:
• $30.00 per ounce silver
• $3.50 per pound copper
• Parity Australian dollar
• Parity Canadian dollar
Total company cash cost subject to following sensitivities:
• +/- $1.00 per ounce silver ~ +/- $5 per ounce
• +/- $0.25 per pound copper ~ +/- $25 per ounce
• +/- $0.05 AUD FX ~ +/- $10 per ounce
• +/- $0.05 CDN FX ~ +/- $5 per ounce
Gold production (ounces)
Total cash cost(1)
($/oz)
Mesquite 140,000 - 150,000 $710 - $730
Cerro San Pedro 140,000 - 150,000 $250 - $270
Peak Mines 90,000 - 100,000 $640 - $660
New Afton 35,000 - 45,000 ($1,200) - ($1,300)
Total 405,000 - 445,000 $410 - $430
2012 Guidance
11 Corporate Presentation | June 2012 11
New Afton – Underground production started
New Afton(100%)
Location Canada
Mine type Underground
Reserves1 – Gold/Copper (Moz/Mlbs) 1.0/954
Resources1 – Gold/Copper (Moz/Mlbs) 1.7/1,586
Estimate mine life 12 years
2012E production/yr (Au koz/Cu Mlbs)2 35-45k/30-35m
2012E cash cost/oz by-product3 ($1,200)-($1,300)
2012E cash cost/oz co-product (Au/Cu)4 $630-$650/$1.35-$1.45
Remaining Capital(5)
~ $60 million
Commercial Production
August 2012
Average Annual Cash Flow(6)
~ $230 million
• Development capital over 90% spent
• Team with significant block cave experience
• Underground operations running well over 800,000
tonnes stockpiled
• Production to start in June 2012
• Mining and milling rate to reach full 11,000 tpd
capacity in early 2013
• Life-of-mine average co-product costs ~$525 per
ounce and ~$1.15 per pound
• Underground exploration program to start in Q3’12
Notes: 1. Refer to Appendix 6 for detailed disclosure on Reserve and Resource calculations.
2. Production includes all production including the gold and copper produced prior to commercial production.
3. Refer to Cautionary Statement and note on Total cash cost.
4. Co-product cash cost calculated based on relative percentage of gold and copper revenue, respectively.
5. Development capital estimate from April 1, 2012 through commercial production adjusted for offsetting
revenue between production and commercial production.
6. Using spot commodity prices.
12 Corporate Presentation | June 2012 12
El Morro (30%) – A world class project
El Morro (30%)
Location Chile
Mine type Open Pit
Reserves1 – Gold/Copper (Moz/Mlbs) 2.5/1,868
Resources1 – Gold/Copper (Moz/Mlbs) 3.0/2,193
Estimate mine life 17 years
LOM production/yr (Au koz/Cu Mlbs)2 90/85
LOM cash cost/oz co-product (Au/Cu)3 $550/$1.45
Copper Reserve(1)
1.9 Blbs
Gold Reserve(1)
2.5 Moz
• Current Resource entirely within La Fortuna
deposit
• 1.2 Moz inferred gold resource at higher gold
and copper grades in deeper portion of La
Fortuna deposit
• Neighbouring El Morro deposit
underexplored
• Capital fully-funded by 70% partner Goldcorp
• Addressing recent temporary suspension of
environmental permit
Notes: 1. Refer to Appendix 6 for detailed disclosure on Reserve and Resource calculations. Measured and Indicated Resources inclusive of Reserves. El Morro Reserves and Resources shown on attributable 30% basis.
2. Refer to Cautionary Statements.
3. Refer to Cautionary Statements and note on Total cash cost. Life of mine co-product costs based $1,200/oz gold and $2.75/lb copper.
13 Corporate Presentation | June 2012 13
Blackwater – An exciting new discovery
Blackwater
Location Canada
Proposed mine type Open Pit
M&I Resources1 – Gold/Silver (Moz) 5.5/25.8
Inferred Resources1 – Gold/Silver (Moz) 2.3/11.2
Targeted production2 2017
Inferred Gold Resource(1)
2.3 Moz at 0.78 g/t
Indicated Gold Resource(1)
5.5 Moz at 0.98 g/t
• Latest resource included drilling through
December 2011 and is based on total of 261 holes
totaling 89,460 metres
• Currently 17 drills active at site
• Further consolidated land position – over 900km2
• Year-round accessibility for drilling/ development
• Central British Columbia near infrastructure
• Ability to fund continued exploration/development
internally
• Tax synergies with New Afton
Notes: 1. Refer to Appendix 6 for detailed disclosure on Reserve and Resource calculations.
2. Blackwater start date based on indicative timeline which is dependent on continued exploration success, environmental approvals and the determination that the deposit is economically viable.
14 Corporate Presentation | June 2012 14
Blackwater – Area map
~160km to
Prince George
~100km to
Vanderhoof
Blackwater
Project
50km
80km
Gold/Silver Resources (Moz)
M&I: 0.4/26.6
Inferred: 0.4/29.5
Gold/Silver Resources (Moz)
M&I: 5.5/25.8
Inferred: 2.3/11.2
Capoose
Resource
15 Corporate Presentation | June 2012 15
Blackwater – 2012 exploration program
• $55 million program focused on combined infill and step-out drilling
• Targeting ~500 holes
totaling ~210,000
metres
– 60-70% infill
– 30-40% step-out
• $4 million additional
exploration program at
Capoose
Includes assays received through April 17, 2012
April 17th, 2012 News Release
March 7th, 2012 News Release
2012 PEA Resource
16 Corporate Presentation | June 2012 16
Blackwater – 2012 drill results
April 17, 2012
334 317 310
331
326 344
110 metres at
1.00 g/t
15 metres at
47.49 g/t
137 metres at
1.34 g/t 130 metres at
1.29 g/t
157 metres at
1.36 g/t
210 metres at
1.38 g/t
Notes: 1. For complete summary of 2012 assay results, refer to New Gold website at www.newgold.com.
17 Corporate Presentation | June 2012 17
Blackwater – Overview of potential project parameters
PEA considerations
Conventional open pit truck and shovel
operation
Good existing road access
Several viable options for powerline
access to BC Hydro grid ($0.04/KwH)
Non-refractory ore
Recoveries by conventional direct
cyanidation and/or flotation process
~90%
Process plant capacity of 60,000 tpd
Several viable options identified for
tailings and waste disposal
Targeting completion of PEA in third
quarter 2012
Go
ld g
rad
e (
g/t
)
Go
ld p
rod
uc
tion
(tho
us
an
d o
un
ces)
1
2
3
4
5
6
7
Gold recovery (%)
85% 86% 87% 88% 89% 90%
0.90
0.92
0.94
0.96
0.98
1.00
525
550
575
600
625
60,000 tpd operation
• ~4.6 g/t silver at 50% recovery would yield ~1.7 million ounces silver annually
18 Corporate Presentation | June 2012 18
Development activity
First Nations & Public Consultation
Preliminary Economic Assessment
Base Line Environmental Studies
Feasibility Study
Engineering Procurement
Production Target
H1 H2
Construction
Drilling
Terms of Reference
Environmental Assessment Reports
Provincial Approval
Federal Approval
2015 2016 20172012
H1 H2
2013 2014
H2 H1 H2H1 H2 H1 H2 H1
Blackwater – Indicative timeline
• The below provides a preliminary indicative targeted timeline through exploration,
development and into production(1)
– New Gold will continue to refine this timeline
Notes: 1. Indicative timeline is dependent on continued exploration success, permit approvals and the determination that the deposit is economically viable. There is no assurance this timeline will be achieved nor that
the deposit will ever reach the production stage.
Reflects critical path in timeline
19 Corporate Presentation | June 2012 19
$446 $410 - $430
~$150 - $200
$1,014
$1,180
~450 - 500
387
405 - 445
0
100
200
300
400
500
600
$0
$350
$700
$1,050
$1,400
$1,750
2011A 2012E 2013E
~$1,425
Near-term production and cash flow increases…
Realized gold price
(US$/oz)
Cash Cost(1)
(US$/oz)
Margin
(US$/oz)
$1,460
$1,600 $1,600
US
$/o
z
Notes: 1. Refer to Cautionary Statement and note on Total cash cost.
Go
ld p
rod
uctio
n (th
ou
san
d o
un
ces)
Gold production
20 Corporate Presentation | June 2012 20
…and a future of growth
• El Morro and Blackwater expected to more than double New Gold’s gold production by 2017
at low cost
387405 - 445
~450 - 500
200
400
600
800
1,000
2011A 2012E 2013E 2017E
Go
ld p
rod
ucti
on
(th
ou
san
d o
un
ces)
21 Corporate Presentation | June 2012 21
Net asset value per share appreciation
Source: Broker Reports, Company Estimates and Announcements, Bloomberg.
Notes: 1. Street consensus NAV for Mesquite, Cerro San Pedro and Peak Mines.
2. Current street consensus NAV for El Morro; Includes $50mm cash payment received from Goldcorp as part of transaction consideration.
3. New Gold purchased Richfield for C$480 million and Silver Quest for C$110 million. The deals closed on June 1, 2011 and December 23, 2011, respectively.
6/1/09 Today
Operating Portfolio(1)
New Afton
El Morro(2)
~ $875 $1,971
~ $120 $1,252
~ $40 $754
Net Asset Value
Blackwater(3)
$-- $1,115
Development Projects
~ $160 $3,121
$1.00
$3.00
$5.00
$7.00
$9.00
$11.00
$13.00
$15.00
1-J
un-0
9
3-O
ct-
09
4-F
eb
-10
8-J
un-1
0
10
-Oct-
10
11
-Fe
b-1
1
15
-Jun
-11
17
-Oct-
11
18
-Fe
b-1
2
21
-Jun
-12
Share price
NAVPS
P/NAV
Completed $1.2bn business combination with Western Goldfields
Closing of Richfield acquisition
High~1.5x
High~1.5x
High~1.5x
High~1.5x
Low~0.7x
Current~0.9x
22-J
un-1
2
US
$ N
AV
an
d S
hare
pri
ce
323% increase in NAVPS
219% increase in share price
22 Corporate Presentation | June 2012 22
Near-term value opportunity
$4.5 billion
$0.8 billion
$1.1 billion
$2.6 billion
Enterprise Value
Consensus El Morro NAV
Consensus Blackwater NAV
Enterprise value (ex growth assets)
Consensus 2013E cash flow from operations
$513 million(1)
New Gold trading at ~5.2x 2013E cash flow
Notes: 1. Based on analyst consensus cash flow per share estimate of $1.11 per share times 462 million shares outstanding.
Historical cash flow multiple range in industry of 5 to 20 times
23 Corporate Presentation | June 2012 23
2012 – A year of catalysts
Blackwater PEA resource update
New Afton production start
El Morro litigation decision
New Afton commercial production
Blackwater PEA
El Morro engineering/development planning
Blackwater/New Afton exploration
24 Corporate Presentation | June 2012 24
The New Gold investment thesis
EXPERIENCED BOARD AND MANAGEMENT
FULLY FUNDED COMPANY WITH STRONG BALANCE SHEET
DIVERSIFIED ASSET BASE IN MINING FRIENDLY JURISDICTIONS
ORGANIC GROWTH OPPORTUNITIES/METAL OPTIONALITY
PRODUCTION GROWTH/MARGIN EXPANSION
INCREASING UNDERLYING ASSET VALUE
MULTIPLE CATALYSTS
COMPELLING INVESTMENT PROPOSITION
25 Corporate Presentation | June 2012 25
Appendix
Appendices
Page
1. Financial information 25
2. Operating performance 28
3. New Afton 31
4. El Morro 40
5. Blackwater 43
6. Reserves and resource notes 56
7. Commodity price/foreign 61
exchange assumptions
26 Corporate Presentation | June 2012 26
0
1
2
3
4
5
6
7
8
2008 2009 2010 2011
Capitalization and liquidity
Average Daily Trading(3)
Millio
n s
hare
s
~7.3mm ~7.0mm
~5.5mm
~1.0mm
Notes: 1. Cash and debt positions as of March 31, 2012 adjusted for net proceeds of $300 million notes offering after redemption of senior secured notes and related costs.
2. See Appendix 1 for detailed breakdown of components of debt.
3. Averages based on combination of all trading platforms including: TSX, Alpha, Pure and NYSE Amex.
April 2012 Senior Note Financing
• Completed $300 million 7% unsecured note
financing on April 5th and announced
redemption of C$187 million 10% senior
secured notes
• Multiple benefits
– Lower interest rate – 7% vs. 10%
– Extended term – 2020 vs. 2017
– Enhanced flexibility – ability to institute
dividend; notes are unsecured
– Additional $90 million cash on balance
sheet post redemption/costs
Cash and equivalents - $326 million(1)
Debt - $382 million(1)(2)
Appendix 1
27 Corporate Presentation | June 2012 27
Summary of debt
Undrawn Credit
Facility Senior Notes
Convertible
Debentures El Morro Funding Loan
Face Value $150 million(1) $300 million C$55 million $36 million
Maturity 3 years with annual
extensions permitted
April 15, 2020 June 28, 2014 n/a
Interest Rate See ‘Key features’ 7% 5% 4.58%
Payable Revolving credit Semi-annually Semi-annually Upon start of production
Conversion price n/a n/a C$9.35 n/a
Current trading value n/a ~102.1 ~$120 n/a
Key features Normal financial
covenants
Interest Rate
• 3% over LIBOR based
on ratios
• Standby fee of 0.75%
• Senior unsecured
• Redeemable after
April 15, 2016 at
103.5% down to
100% of face after
2018
• Unlimited dividends
if leverage ratio
below 2:1
Redeemable after
January 1, 2012 with
between 30 and 60
days notice provided
shares trading over
C$11.69
New Gold to repay
Goldcorp out of 80% of
its 30% share of cash
flow once El Morro starts
production
Notes: 1. $30 million currently allocated for Letters of Credit.
Appendix 1
28 Corporate Presentation | June 2012 28
Trend of expanding margins continues
Notes: 1. Refer to Cautionary Statement and note on Total cash cost.
Appendix 1
$566
$465$428 $446
$543
$297
$522
$766
$1,014
$1,032
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
2008A 2009A 2010A 2011A Q1'12A
Realized gold price
(US$/oz)
$863
Cash Cost(1)
(US$/oz)
Margin
(US$/oz)
$987
$1,194
$1,460
US
$/o
z
$1,575
29 Corporate Presentation | June 2012 29
Mesquite
Gold production (ounces)
140,000 - 150,000
Total cash cost ($ per ounce)
$710 - $730
Tonnes processed
(000 tonnes) 11,733 12,500 – 13,500
Tonnes mined
(000 tonnes) 45,973 45,000 – 47,000
Grade - gold (g/t) 0.57 0.50 – 0.55
Capital
($ million) 19 ~14
2011 Actual & 2012 Guidance
Key assumptions and sensitivities
• Diesel comprises ~20% of Mesquite’s total costs
• Rack diesel price most correlated to Brent oil price
− Brent oil price increased by 13% since
beginning of 2011
• Every 10% change in diesel price has ~$15 per
ounce impact on costs
2011A versus 2012E
• Lower strip ratio to result in higher ore tonnes
processed
• Gold grade is expected to decline from 2011
levels
• Increase in costs primarily driven by lower
gold production
2011A 2012E
Notes: 1. Mesquite life-of-mine recovery continues to track at ~75% for oxide; ~35% for sulphides.
Appendix 2
30 Corporate Presentation | June 2012 30
Cerro San Pedro
Gold production (ounces)
140,000 - 150,000
Total cash cost ($ per ounce)
$250 - $270
Tonnes processed
(000 tonnes) 16,763 14,000 – 15,000
Tonnes mined
(000 tonnes) 33,276 31,000 – 33,000
Grade - gold (g/t) 0.48 0.55 – 0.60
Grade – silver (g/t) 24 20 – 25
Capital
($ million) 7 ~16
Key assumptions and sensitivities
• Silver price - $30 per ounce (2011A - $35.15/oz)
• Mexican Peso: U.S. foreign exchange – 13:1
• $1.00 per ounce change in silver equals ~$15 per
ounce change in Cerro San Pedro cash cost
• 1.0 change in Mexican Peso equals ~$15 per
ounce change in Cerro San Pedro cash cost
2011A versus 2012E
• Expected production of gold and silver consistent
with 2011
• Decrease in tonnes processed offset by
grade and recovery movements
• Increase in costs primarily driven by lower silver
by-product price assumption
Silver production (million ounces)
1.9 - 2.1
2011 Actual & 2012 Guidance
2011A 2012E
Notes: 1. Cerro San Pedro life-of-mine recovery continues to track at: Gold – ~60%, Silver – ~30%.
Appendix 2
31 Corporate Presentation | June 2012 31
Peak Mines
Tonnes processed
(000 tonnes) 783 780 – 800
Tonnes mined
(000 tonnes) 755 780 – 800
Grade - gold (g/t) 3.94 4.0 – 4.2
Grade – copper (%) 0.93 0.88 – 0.90
Recovery – gold (%) 89 88 – 90
Recovery – copper (%) 82 85 - 87
Capital
($ million) 50 ~60
Key assumptions and sensitivities
• Copper price - $3.50 per pound (2011A - $3.78/lb)
• Australian dollar: U.S. foreign exchange – 1:1
• $0.25 per pound change in copper equals ~$35 per
ounce change in Peak cash cost
• 0.01 change in Australian dollar equals ~$10 per
ounce change in Peak cash cost
2011A versus 2012E
• Increased gold production driven by increases in
tonnes processed, gold grades and recoveries
• Similar copper production a result of increased
tonnes processed and copper recoveries offset
by lower copper grades
Gold production (ounces)
90,000 - 100,000
Total cash cost ($ per ounce)
$640 - $660
Copper production (million pounds)
12 - 14
2011 Actual & 2012 Guidance
2011A 2012E
Appendix 2
32 Corporate Presentation | June 2012 32
Block cave mines
Appendix 3
33 Corporate Presentation | June 2012 33
$56m
$54m
$40m$174m
$74m
$43m
New Afton development capital cost breakdown
• Total capital spend during 2011 of $291
million, excluding capitalized interest
Surface/Mill
Construction
Underground
Development
Owners Costs/
Construction Indirects
2011A 2012E(1)
• Total remaining development capital of $150
million through start of commercial
production
– Total project capital to be within 8% of
2009 capital estimate of C$700 million
at C$765 million
Notes: 1. As of January 1, 2012, assumes a parity USD/CDN foreign exchange rate and includes offsetting revenue related to pre-commercial production sales of inventory that has been netted against Underground
Development costs.
Appendix 3
34 Corporate Presentation | June 2012 34
Drawbell continuity schedule
Appendix 3
35 Corporate Presentation | June 2012 35
-
10
20
30
End of2011
January February March April May June
Nu
mb
er
of
dra
wb
ells
New Afton – 2012 drawbell development rate
• Currently meeting targeted
drawbell development rate
– 21 drawbells completed
as of April 30, 2012
• On track for 26 drawbells by
the end of June
• ~50 drawbells to support
11,000 tpd mining rate
26 drawbells to
support 6,600 tpd
from underground
2012
On track with 2012 monthly drawbell development
Actual Estimated
Appendix 3
36 Corporate Presentation | June 2012 36
-
100
200
300
400
500
600
700
800
900
1,000
December2011
January February March April May June
New Afton – Build-up of ore stockpile
• Combination of additional
drawbells and commissioning
of conveyor system has led to
exponential increase in ore
stockpile
• 705,000 tonnes stockpiled on
surface at April 30, 2012
• Stockpile to provide additional
flexibility during ramp-up of
mining and milling rates
• Ore grade above reserve
grade and reconciling with
block models
~3 months of
production at full
capacity
2012
Ore
sto
ckp
ile (
tho
usan
d t
on
nes
)
On track with 2012 monthly ore stockpile targets
Actual Estimated
Average grade comparison
Gold
g/t
Copper
%
New Afton
reserves(1)
0.64 0.90
Ore stockpile 0.97 1.04
Notes: 1. As at December 31, 2011. Refer to Reserve and Resource Notes in Appendix 6.
Appendix 3
37 Corporate Presentation | June 2012 37
-
2,500
5,000
7,500
10,000
12,500
15,000
January March May July September November January March
Mine tpd Mill feed tpd
New Afton – 2012 production start-up
Mill reaches 11,000
tpd
Mill starts in June and reaches
6,600 tpd commercial rate in
August
Period of drawdown
of stockpile inventory
Mining/milling rate
reach 11,000 tpd run-
rate level
• The combination of over six months of active underground mining and the existence of the ore stockpile
should lead to an efficient mill start-up
• Mill start-up scheduled for June 2012
• Targeting two month period to reach commercial production rate (6,600 tonnes per day) – August 2012
2012 2013
Tonnes per day
Appendix 3
38 Corporate Presentation | June 2012 38
Production and sales
• Difference between production and sales
a result of pre-commercial production
commodity sales being net against capital
costs and timing of certain concentrate
sales
Gold production (ounces)
35,000 - 45,000
Copper production (million pounds)
30 - 35
Gold sales (ounces)
20,000 - 30,000
Copper sales (million pounds)
20 - 25
Tonnes processed (000 tonnes) 1,900 – 2,200
Grade - gold (g/t) 0.75 – 0.85
Grade - copper (%) 0.85 – 0.95
Recovery – gold (%) 88 – 90
Recover – copper (%) 88 – 90
New Afton 2012 Guidance
Appendix 3
39 Corporate Presentation | June 2012 39
Processing Mining G&A
Operating costs
• Operating costs ~$25 per tonne in first five months of commercial production(1)
– Life-of-mine average ~$18 - $22 per tonne
2012 by-product cash cost(2)
($1,200) - ($1,300) per ounce
2012 co-product cash cost(3)
$630 - $650 per ounce,
$1.35 - $1.45 per pound
• Costs expected to be lower in future years as ‘per tonne’ cost reaches steady-state level
– Life-of-mine average by-product cost ~($1,750)(4)
– Life-of-mine average co-product costs(4) of ~$525 per ounce gold and ~$1.15 per pound copper
Notes: 1. Includes treatment and refining charges and assumes parity Canadian/U.S. dollar foreign exchange rate.
2. Assumes $3.50 per pound copper price and parity Canadian/U.S. dollar foreign exchange rate.
3. Co-product costs calculated on a percentage of revenue basis and assume a gold price of $1,600 per ounce.
4. Based on assumption of $1,600 per ounce gold, $3.50 per pound copper and a parity foreign exchange rate.
~$4.60/t ~$6.20/t
~$9.20/t
Appendix 3
40 Corporate Presentation | June 2012 40
Cross
Section Looking East
Long Section Looking South
• 3 phase underground core drilling program totaling 40,000 meters commencing Q3 2012
• Phase 1: ~15,000 meters to delineate eastern limits of C-zone and assess potential to lower block cave
extraction level for B3 reserve block - estimated completion by end Q1’13
• Phases 2 & 3: ~25,000 meters to explore extensions to west and at depth - estimated completion Q4’13
C Zone Resource (2010)
Tonnes
000’s
Au
g/t
Cu
%
Gold
Koz
Copper
Mlbs
M&I 3,637 0.78 0.96 92 76
Inferred 11,317 0.60 0.75 218 186
New Afton – C Zone exploration
Appendix 3
41 Corporate Presentation | June 2012 41
El Morro (30%) – funding structure(1)
Appendix 4
• New Gold’s 30% share of development capital 100% carried
– Interest fixed at 4.58%
Notes: 1. Based on 2011 Feasibility Study.
Total Capital
100%
~ $3.9 billion
100% Average annual
cash flow
70% 30%
70% ~ $2.7 billion
Funded by
$1.2 billion
interest at 4.58%
30%
80%
20%
Carried funding repayment
42 Corporate Presentation | June 2012 42
Selected porphyry gold/copper deposits/mines(1)
Appendix 4
$51/t
$49/t
$42/t$38/t
$29/t
$27/t
$24/t
$40/t
--
0.10
0.20
0.30
0.40
0.50
0.60
0.70
0.80
0.10% 0.20% 0.30% 0.40% 0.50% 0.60% 0.70%
Source: Company disclosure.
Notes: 1. Circle sizes are representative of contained metal value of the reserves per tonne of reserve. Contained metal value calculated using Street research consensus long-term commodity pricing.
2. Includes “Cadia East Underground” and “Ridgeway Underground” reserves as indicated in Newcrest’s February 10, 2012 press release; does not include “Other” Cadia province reserves.
El Morro
Gold
Grade
(g/t)
Copper
Grade
(%)
Agua Rica Alumbrera Cadia-Ridgeway Cerro Casale
Chapada Cobre Panama El Morro Mt. Milligan
(2)
43 Corporate Presentation | June 2012 43
AssetGold Reserves
(Moz)Asset Gold Equivalent
(2)
(Moz)
Penasquito 16.5 Penasquito 45.2
Pueblo Viejo 10.1 El Morro 15.4
Los Filos 7.8 Pueblo Viejo 11.8
El Morro 5.8 Los Filos 8.7
Cerro Negro 4.5 Cerro Negro 5.2
El Morro relative positioning(1)
Appendix 4
Notes: 1. Based on Goldcorp and Barrick’s December 31, 2011 year-end resource statements.
2. Gold equivalent calculated based on the following commodity prices: Gold - $1,595/oz; Silver - $28.75/oz; Copper - $3.50/lb; Lead - $0.88/lb; Zinc - $0.86/lb.
El Morro within Goldcorp portfolio
• El Morro would represent 4th largest gold equivalent(2) reserve for Barrick
44 Corporate Presentation | June 2012 44
March 2011
Initial Resource
September 2011
Resource update
Year-end 2011
Resource update
March 2012
Resource update
December 31, 2010 77 24,563
July 31, 2011 148 49,223
November 30, 2011 218 67,848
December 31, 2011 261 89,460
March 5, 2012 328 115,950
Assay cut-off date Cumulative number
of holes
Cumulative number
of metres
April 2012
2012 assays received
Blackwater drill program
Appendix 5
45 Corporate Presentation | June 2012 45
Blackwater benchmarking comparable projects
• The below provides high level benchmarking of various other Canadian bulk tonnage operations(1)
Range
Targeted throughput (tpd) 55,000 – 60,000
Strip ratio(2) (waste:ore) 2.27 – 3.89
Development capital per 1,000 tpd(2) (million) $18 - $26
Mining cost (per tonne mined) $1.30 - $1.83
Processing cost(2) (per tonne milled) $5.71 - $6.66
G&A (per tonne milled) $0.72 - $1.22
Power cost (Kwh) ~$0.044
Notes: 1. Benchmark group includes: Canadian Malartic, Detour Lake, and Mount Milligan. Figures from company disclosures including news releases and investor presentations related to project parameters.
2. Includes only Canadian Malartic and Detour Lake as gold-focused projects.
Appendix 5
46 Corporate Presentation | June 2012 46
Blackwater Resource Growth - March 2011
March 2011
Indicated Inferred
Mt Au g/t Mt Au g/t
53.4 1.06 75.4 0.96
1.8 Moz 2.3 Moz
$1000 pit shell
Cumulative Drilling
Holes Metres
77 24,563
Appendix 5
47 Corporate Presentation | June 2012 47
Blackwater Resource Growth - September 2011
Appendix 5
September 2011
Indicated Inferred
Mt Au g/t Mt Au g/t
165.2 1.01 38.8 0.94
5.3 Moz 1.2 Moz
$1200 pit shell
$1000 pit shell
Cumulative Drilling
Holes Metres
148 49,223
48 Corporate Presentation | June 2012 48
Blackwater Resource Growth – Year-end 2011
Appendix 5
Year-end 2011
Indicated Inferred
Mt Au g/t Mt Au g/t
163.6 1.03 69.3 0.84
5.4 Moz 1.9 Moz
$1300 pit shell
$1200 pit shell
$1000 pit shell
Cumulative Drilling
Holes Metres
218 67,848
49 Corporate Presentation | June 2012 49
Blackwater Resource Growth – March 2012
Appendix 5
March 2012
Indicated Inferred
Mt Au g/t Mt Au g/t
174 0.98 92 0.78
5.5 Moz 2.3 Moz
$1000 pit shell
$1200 pit shell
$1300 pit shell
Cumulative Drilling
Holes Metres
261 89,460
50 Corporate Presentation | June 2012 50
Blackwater Resource Growth – April 2012
Appendix 5
April 17th, 2012 News Release
March 7th, 2012 News Release
2012 PEA Resource
51 Corporate Presentation | June 2012 51
Blackwater Block Model – March 2012
Appendix 5
52 Corporate Presentation | June 2012 52
BW Section 5892,800N – March’12 PEA Block Model
Appendix 5
Looking North
$1300/oz Au
pit shell
53 Corporate Presentation | June 2012 53
BW Section 5892,800N – Geology & Drilling
Appendix 5
Volcanic
Breccia
Andesite Andesite
Sediments
Rhyolite
Glacial Till
$1300/oz Au
pit shell
54 Corporate Presentation | June 2012 54
BW Section 375,500E – PEA Block Model
Appendix 5
Looking West
55 Corporate Presentation | June 2012 55
BW Section 375,500E – Geology & Drilling
Appendix 5
Volcanic
Breccia Andesite
2012 holes labeled in
Red
56 Corporate Presentation | June 2012 56
Blackwater regional exploration
Appendix 5
17
57 Corporate Presentation | June 2012 57
Reserves and resource notes
Tonnes
000's
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
Mesquite
Proven 14,548 0.67 - - 313 - -
Probable 138,796 0.55 - - 2,448 - -
Mesquite P&P 153,345 0.56 - - 2,762 - -
Cerro San Pedro
Proven 23,972 0.58 16.99 - 447 13,091 -
Probable 35,267 0.49 15.30 - 559 17,352 -
Cerro San Pedro P&P 59,239 0.53 15.98 - 1,006 30,443 -
Peak
Proven 1,608 6.33 8.4 0.82 327 434 29
Probable 1,811 4.80 6.7 0.92 279 390 37
Peak P&P 3,419 5.50 7.5 0.87 606 824 66
New Afton
Proven - - - - - - -
Probable 47,900 0.64 2.0 0.90 986 3,080 954
New Afton P&P 47,900 0.64 2.0 0.90 986 3,080 954
El Morro 30%
Proven 308,036 0.58 - 0.57 1,716 - 1,153
Probable 212,167 0.38 - 0.51 787 - 715
El Morro P&P 520,024 0.50 - 0.54 2,503 - 1,868
Metal grade Contained metal
Mineral Reserves statement as at December 31, 2011
100%
Appendix 6
58 Corporate Presentation | June 2012 58
Reserves and resource notes (cont’d)
Appendix 6
Tonnes
000's
Gold
g/t
Silver
g/t
Copper
%
Zinc
%
Lead
%
Gold
Koz
Silver
Koz
Copper
Mlbs
Zinc
Mlbs
Lead
Mlbs
Mesquite
Measured - oxide 19,182 0.51 - - - - 316 - - - -
Indicated - oxide 269,872 0.39 - - - - 3,407 - - - -
Mesquite M&I - oxide 289,054 0.40 - - - - 3,723 - - - -
Measured - non oxide 4,688 0.91 - - - - 137 - - - -
Indicated - non oxide 79,851 0.65 - - - - 1,674 - - - -
Mesquite M&I - non oxide 84,539 0.66 - - - - 1,811 - - - -
Total Mesquite 373,594 0.46 - - - - 5,534 - - - -
Cerro San Pedro
Measured - open pit oxide 25,722 0.44 15.36 - - - 367 12,706 - - -
Indicated - open pit oxide 55,647 0.31 12.28 - - - 546 21,976 - - -
CSP M&I - open pit oxide 81,369 0.35 13.26 - - - 913 34,682 - - -
Measured - open pit sulphide 13,317 0.54 13.60 - 0.64 0.10 232 5,823 - 187 29
Indicated - open pit sulphide 46,697 0.44 10.23 - 0.55 0.08 667 15,355 - 566 77
CSP M&I - open pit sulphide 60,014 0.47 10.98 - 0.57 0.08 899 21,178 - 753 106
Total CSP M&I - open pit 1,812 55,860
Peak
Measured 3,092 4.89 7.3 1.14 - - 486 726 78 - -
Indicated 3,697 3.89 7.1 1.09 - - 462 844 89 - -
Peak M&I 6,789 4.30 7.2 1.11 - - 948 1,570 167 - -
New Afton
Measured 36,500 0.90 2.7 1.24 - - 1,058 3,194 1,002 - -
Indicated 33,300 0.64 2.1 0.80 - - 685 2,276 584 - -
New Afton M&I 69,800 0.78 2.4 1.03 - - 1,742 5,470 1,586 - -
Blackwater
Blackwater Indicated 174,407 0.98 4.6 - - - 5,467 25,794 - - -
Capoose Indicated 31,216 0.38 26.5 - - - 384 26,594 - - -
El Morro
Measured - open pit 343,088 0.55 - 0.54 - - 1,836 - 1,233 - -
Indicated - open pit 333,312 0.35 - 0.44 - - 1,117 - 960 - -
El Morro M&I - open pit 676,400 0.45 - 0.49 - - 2,954 - 2,193 - -
Metal grade
100% 30%
Measured and Indicated mineral Resource statement (inclusive of Reserves) as at December 31, 2011
Contained metal
59 Corporate Presentation | June 2012 59
Reserves and resource notes (cont’d)
Appendix 6
Tonnes
000's
Gold
g/t
Silver
g/t
Copper
%
Zinc
%
Lead
%
Gold
Koz
Silver
Koz
Copper
Mlbs
Zinc
Mlbs
Lead
Mlbs
Mesquite 38,633 0.41 - - - - 512 - - - -
Cerro San Pedro
Inferred - open pit oxide 40,355 0.17 8.55 - - - 214 11,091 - - -
Inferred - open pit sulphide 24,736 0.47 7.40 - 0.50 0.07 374 5,882 - 271 39
588 16,972 - 271 39
Manto Underground sulphides 6,270 1.83 94.51 - 3.09 1.09 368 19,052 - 427 151
Peak 3,147 2.56 4.8 1.54 - - 259 486 107 - -
New Afton 29,200 0.51 1.6 0.61 - - 483 1,478 390 - -
Blackwater
Blackwater 91,566 0.78 3.8 - - - 2,282 11,187 - - -
Capoose 37,256 0.37 24.6 - - - 443 29,518 - - -
100% 30%
El Morro
Open pit 637,495 0.10 - 0.25 - - 605 - 1,045 - -
Underground 128,280 0.97 - 0.78 - - 1,205 - 660 - -
El Morro Inferred 1,810 1,705
Inferred Resource statement as at December 31, 2011
Metal grade Contained metal
60 Corporate Presentation | June 2012 60
Reserves and resource notes (cont’d)
Mineral reserves are contained within measured and indicated mineral resources. Measured and indicated mineral resources that are not mineral reserves do not have demonstrated economic
viability as defined by a technical feasibility study. Inferred mineral resources are not known with the same degree of certainty as measured and indicated resources, do not have demonstrated
economic viability, and are exclusive of mineral reserves. Mineral Reserves have been estimated and reported in accordance with the CIM Standards and National Instrument 43-101, or the
AusIMM JORC equivalent.
1) Mineral Reserves for the company’s mining operations and development projects have been calculated based on the following metal prices and lower cut-off criteria:
Mineral Property Gold (US$/oz) Silver (US$/oz) Copper (US$/lb) Lower Cut-off
Mesquite $1,200 - - 0.21 g/t Au – Oxide reserves
0.41 g/t Au – Non-oxide reserves
Cerro San Pedro $1,200 $20.00 - US$3.49/t NSR
Peak Mines $1,300 $25.00 $2.75 A$130 – 184/t NSR
New Afton $1,200 $20.00 $2.50 US$24/t NSR
El Morro $1,200 - $2.75 0.20% Cu
Appendix 6
61 Corporate Presentation | June 2012 61
Reserves and resource notes (cont’d)
2) Mineral Resources for the company’s mining operations and development projects have been calculated based on the following metal prices and lower cut-off criteria:
Mineral resources have been estimated and reported in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101, or the
AusIMM JORC equivalent.
Mineral Property Gold
(US$/oz)
Silver
(US$/oz)
Copper
(US$/lb)
Zinc
(US$/lb)
Lead
(US$/lb)
Lower Cut-off
Mesquite $1,300 - - - - 0.11 g/t Au – Oxide resources
0.22 g/t Au – Non-oxide resources
Cerro San Pedro $1,300 $24.00 - $1.00 $1.00 0.1g/t AuEq – Oxide resources
0.4g/t AuEq – Open pit Sulphide resources
2.5g/t AuEq – Underground manto resources
Peak Mines $1,300 $24.00 $2.75 $0.85 $0.65 A$103 - 137/t NSR
New Afton $1,300 $24.00 $2.75 - - 0.40% CuEq – All resources
El Morro $1,350 - $3.25 - - 0.15% Cu – Open pit resources
0.20% Cu – Underground resources
Blackwater $1,300 - - - - 0.40 g/t Au – All resources
Capoose $1,025 - - - - 0.40 g/t AuEq – All resources
3) Mineral resources are classified as measured, indicated and inferred resources and are reported based on technical and economic parameters consistent with the methods most suitable for
their potential extraction and mineral processing. Where different mining and/or processing methods might be applied to different portions of a mineralized system or metal deposit, the
designators ‘open pit’ and ‘underground’ have been applied to indicate likely mining method. Likewise the designators ‘oxide’, ‘non-oxide’ and ‘sulfide’ have been applied to indicate the type of
mineralization as it applies to appropriate mineral processing method and expected payable metal recoveries. Additional details regarding mineral resource estimation, classification and
reporting parameters for each of New Gold’s mines and projects are provided in the respective NI 43-101 Technical Reports and available on SEDAR.
4) Qualified Person: The preparation of New Gold’s mineral reserve and resource statements has been done by Qualfied Persons as defined under Canadian under National Instrument 43-101
under the oversight and review of Mark Petersen, a Qualified Person under National Instrument 43-101 and employee of New Gold.
Appendix 6
62 Corporate Presentation | June 2012 62
Commodity price/foreign exchange assumptions
Guidance/consensus:
Spot:
2012 2013 2014
Gold price ($/oz) 1,600 1,760 1,600
Silver price ($/oz) 30.00 34.38 30.00
Copper price ($/oz) 3.50 3.85 3.50
USD/AUD 1.00 1.01 0.96
USD/CAD 1.00 1.00 1.01
USD/MXN 13.00 12.35 12.50
Spot
Gold price ($/oz) 1,570
Silver price ($/oz) 27.00
Copper price ($/oz) 3.35
USD/AUD 1.00
USD/CAD 0.97
USD/MXN 13.85
Appendix 7
63 Corporate Presentation | June 2012 63
Contact information
Investor Relations
Hannes Portmann
Vice President, Corporate Development
416-324-6014
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