Proceeds of the private placement will be used for funding exploration of the Buck property and working capital.

During 2019, the El Castillo Complex and La Colorada mine production totaled 131,277 GEOs and 55,338 GEOs, respectively.

“2019 was a pivotal year for New Gold as we began the journey to reposition the company for long-term success and sustainable shareholder value creation. We are encouraged by the progress we have made in 2019 as we delivered on all our key commitments, including stabilizing operations and completing substantially all deferred construction capital at the Rainy River Mine, advancing the development of the New Afton C-zone, improving our balance sheet and achieving annual production guidance,” stated Renaud Adams, CEO.

“Coeur’s operations delivered solid gold production in 2019, highlighted by a strong second half of the year,” said Mitchell J. Krebs, Coeur’s President and Chief Executive Officer. “Palmarejo was our best performing operation last year, while Kensington’s gold production increased 12% year-over-year. Wharf’s gold production was 58% higher in the second half of 2019 compared to the first half, leading to a 10% year-over-year production increase.”

“During Q4 2019 we achieved higher production compared to Q3 2019, due to the higher grades at the Avino Mine achieved during the month of November as a result of a mine sequence that included a significant portion of a geological gold lens within the Avino mine resulting in higher gold grades sent to the mill and ultimately, recovered,” said David Wolfin, President and CEO.