‘08 HIGHLIGHTS

49%

INCREASED YEARLY GOLD SALES BY

COMMISSIONED

THE FRASERS UNDERGROUND MINE IN JANUARY – THE COMPANY’S SECOND NEW GOLD MINE IN NEW ZEALAND IN THE PAST TWO YEARS

TO 264,124 OUNCES

COMPARED TO FY2007

ACHIEVED EBITDA (EARNINGS

BEFORE INTEREST, TAXES, DEPRECIATION AND AMORTISATION BUT EXCLUDING GAIN/LOSS ON UNDESIGNATED HEDGES) OF

$66.1 MILLION

THIS COMPARES TO FY 2007 EBITDA OF $8.7 MILLION

19%

EXCEEDED DESIGN THROUGHPUT RATES AT THE REEFTON OPERATION AND PROCESSED

MORE ORE

THAN PLANNED IN 2008

INCREASED

GOLD PRODUCTION

AND A DECREASE IN CONSUMABLE COSTS TO ACHIEVE

ACHIEVED STRONG CASH COST IMPROVEMENT BY Q4 THROUGH

COMPLETED

60%

OF THE BULK

$532

PER OUNCE

EARTHWORKS AND DETAILED DESIGN FOR THE DIDIPIO GOLD & COPPER PROJECT IN LUZON, PHILIPPINES BEFORE TEMPORARILY PLACING IT ON CARE & MAINTENANCE

OceanaGold Corporation Corporate Office Level 5, 250 Collins Street Melbourne, Victoria, 3000 Australia PO Box 355, Flinders Lane Post Office Melbourne, Victoria, 3000 Australia T: +61 3 9656 5300 F: +61 3 9656 5333 E: info@oceanagold.com www.oceanagold.com