New Gold Inc. announced the pricing of its previously announced offering of $400 million aggregate principal amount of 6.875 percent Senior Notes due 2032. New Gold intends to use the net proceeds from the offering of the Notes, together with cash on hand, to fund the purchase of any and all of its outstanding 7.50 percent senior notes due 2027 and to pay related fees and expenses. New Gold intends to use the remainder of the net proceeds, if any, to redeem any Existing Notes remaining outstanding following the Tender Offer (as defined below) at 100 percent of the principal amount thereof on or about July 15, 2025.