New Gold Completes Redemption of 2020 Senior Notes and Extends Credit Facility

June 5, 2017 – New Gold Inc. (“New Gold”) (TSX:NGD) (NYSE MKT:NGD) today announces that it has completed the previously announced redemption of its outstanding $300 million 7.00% Senior Notes due 2020. The redemption was
funded from the net proceeds of its recent issue of $300 million aggregate principal amount of 6.375% Senior Notes due in 2025 and cash on hand.
“With the redemption of our 2020 Senior Notes, New Gold has further enhanced its financial flexibility,” stated Brian Penny, Executive Vice President and Chief Financial Officer. “Consistent with the multiple steps we have taken this year to strengthen our liquidity position and reinforce our balance sheet, we are pleased that through these transactions, we have been able to both extend the term of our debt and reduce our interest rate.”

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