Record full year gold production for OceanaGold

OceanaGold Corporation (ASX: OGC, TSX: OGC, NZX: OGC) (the "Company") is pleased to release its fourth quarter report for the quarter ended 31 December 2013, in accordance with the Australian Securities Exchange ("ASX") Listing Rule 5.1. Please note that the numbers contained in this document are unaudited and subject to finalisation. As a Toronto Stock Exchange ("TSX") issuer, the Company will release its complete full year 2013 audited financial and operational results on 20 February 2014. A conference call to discuss the results will take place on 21 February 2014 (Australian Eastern Daylight Time).

Key Highlights

- Record full year gold production of 325,732 ounces in 2013, slightly ahead of guidance.

- Strong copper production with 23,059 tonnes produced for the year exceeding top end of 2013 copper production guidance.

- Cash costs net of copper by-products of $426 per ounce for the full year, lower than the 2013 cash cost guidance.

- All-In Sustaining Costs ("AISC") of $868 per ounce for the full year.

- Reduced debt by $45 million during the quarter.

Mick Wilkes, Managing Director and CEO commented, "I am pleased to report a very strong finish to 2013 with record gold production for OceanaGold. The Company exceeded its 2013 gold and copper production guidance at lower than planned costs on the back of strong fourth quarter production from both our New Zealand and Philippine operations. We continue to drive down our cost profile while increasing cash margins." He went on to say, "Last year was a challenging year for the gold sector with a significant decrease in the gold price. Against that environment, we transformed the Company by successfully commissioning the high grade, low cost Didipio Mine in the Philippines, and reducing our cost base in New Zealand where we responded to the new economic realities in a decisive manner by optimising mine schedules and identifying operational efficiencies."

Mr Wilkes continued, "Looking ahead into 2014, we expect increasing free cash flow generation to be used to further strengthen our balance sheet and position the Company for greater shareholder value. We expect Didipio to continue to ramp-up well with increased production and mill throughput to achieve its 3.5 Mtpa planned capacity by the end of the year. We will also continue to work closely with all of our stakeholders to deliver positive results in a safe and sustainable manner."