OceanaGold Third Quarter 2012 Results

/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OR TO US PERSONS 
AND NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES/ 
(All references in US Dollars) 
MELBOURNE, Oct. 30, 2012 /CNW/ - OceanaGold Corporation (ASX: OGC, TSX: OGC, 
NZX: OGC) (the "Company") has reported EBITDA (earnings before interest, 
taxes, depreciation and amortisation excluding gain/(loss) on hedges) of $28.6 
million, a 12% increase on the previous quarter. 
In its Third Quarter 2012 Results released today, the Company reported revenue 
for the quarter of $91.2 million from an average gold price received of $1,665 
per ounce, a 5.1% increase over Q2 due to an increase in gold ounces sold and 
a higher average price of gold received. Gold sales for the third quarter 
improved to 54,750 ounces, versus the previous quarter of 53,756 ounces sold. 
This increase was attributable to a draw down of inventories (gold in circuit) 
during Q3. 
Gold production in the third quarter was 49,514 ounces, which was down from 
the second quarter production of 55,709 ounces. This decrease was 
attributable to a lower volume of ore mined at both Macraes Open Pit and 
Reefton, however production at Frasers Underground improved due to higher 
grades. 
The third quarter cash cost per ounce increased slightly to $1,081 due to a 
reduction in inventory and a stronger New Zealand dollar, partly offset by 
higher ounces of gold sold and lower electricity costs. 
Year-to-date 2012 revenue was $266.4 million from sales of 160,358 ounces of 
gold at a cash cost of $1,077 per ounce sold. In the third quarter, the 
Company announced that it finalised $225 million term and revolving credit 
facilities with a syndicate of banks. The credit facilities provide 
additional liquidity should it be required for repayment of the convertible 
bonds and includes a $50 million working capital facility. 
Tremendous progress continued at the Didipio Project in the Philippines and 
construction nears completion. The Company is pleased to announce that 
commissioning activities have commenced and are on schedule to commence 
milling in November. 
During the third quarter, the Company invested $3.1 million on exploration 
with $2.7 million incurred in New Zealand. On 25 October 2012, the Company 
announced favourable results from drilling of the Blackwater deposit where 
recent deep drilling successfully intersected the reef at 950 metres down 
plunge from the old workings with the best result thus far so far being 1.1 
metres @ 85.2g/t gold from Hole WA22D. 
OceanaGold CEO, Mick Wilkes, said the Company continues to focus on 
commissioning Didipio and increasing gold production from the New Zealand 
operations in the fourth quarter of 2012. 
"We are pleased to announce the commencement of commissioning activities at 
the Didipio Project, including successfully commissioning the crusher with 
rock after the end of the quarter, and remain on-track for milling in 
November. In addition we were also pleased to secure the $225 million credit 
facility and finalise the Offtake Agreement with Trafigura which have further 
de-risked the project. In New Zealand, the Company has commenced mining higher 
grade ore at both Macraes Open Pit and Reefton and as a result, we expect 
production to be higher in the fourth quarter." 
Mr. Wilkes went on to add, "We have narrowed and adjusted the FY2012 
production and cash cost guidance as we enter the final quarter of the year to 
225,000-230,000 ounces of gold at $1,000-$1,050 per ounce. This was previously 
guided to be at the lower end of the 230,000-250,000 ounces range and at the 
higher end of the cash cost range of $900-$980 per ounce, and the adjusted 
range is consistent with the current market consensus based on analysts 
covering OceanaGold which is 228,650 ounces of gold from the New Zealand mines 
at $1,023 per ounce." 
Other highlights from the OceanaGold Third Quarter 2012 Results include: 


    --  Effective November 7, Michael Holmes will join OceanaGold as
        Chief Operating Officer. Michael is a mining engineer who has
        worked in a variety of mining companies including major global
        companies and junior miners in Australia.  He brings
        significant experience in both underground and open pit mining
        in gold and copper as a senior operations executive. Mark
        Cadzow has been appointed to the new role of Chief Development
        Officer and will be responsible for managing the project
        development team overseeing technical studies, expansions and
        new developments including the commissioning of the Didipio
        Project.
    --  Awarded a plaque of appreciation by the Mines and GeoSciences
        Bureau in the Philippines for the Company's Health, Safety and
        Environment Programs. 

Conference Call / Webcast

The Company will host a conference call / webcast to discuss the Q3 2012 
Financial Results. The call will take place at 8:00 am on Wednesday 31 
October (Melbourne, Australia time) / 5.00 pm on Tuesday 30 October (Toronto, 
Canada time). Details are available on the OceanaGold website at 
www.oceanagold.com.

About OceanaGold

OceanaGold Corporation is a significant Asia Pacific gold producer with 
projects located on the South Island of New Zealand and in the Philippines. 
The Company's assets encompass New Zealand's largest gold mining operation at 
the Macraes goldfield in Otago which is made up of the Macraes Open Pit and 
the Frasers Underground mines. Additionally on the west coast of the South 
Island, the Company operates the Reefton Open Pit mine. OceanaGold produces 
approximately 230,000 ounces of gold per annum from the New Zealand 
operations. The Company also owns the Didipio Project in northern Luzon, 
Philippines where commissioning activities are currently underway. Currently, 
Didipio is expected to produce 100,000 ounces of gold and 14,000 tonnes of 
copper per year over an estimated 16 year mine life. 

OceanaGold is listed on the Toronto, Australian and New Zealand stock 
exchanges under the symbol OGC.



Cautionary Statement

Statements in this release may be forward-looking statements or 
forward-looking information within the meaning of applicable securities laws. 
Any statements that express or involve discussions with respect to 
predictions, expectations, beliefs, plans, projections, objectives, 
assumptions or future events or performance (often, but not always, using 
words or phrases such as "expects" or "does not expect", "is expected", 
"anticipates" or "does not anticipate", "plans", "estimates" or "intends", or 
stating that certain actions, events or results "may", "could", "would", 
"might" or "will" be taken, occur or be achieved) are not statements of 
historical fact and may be forward-looking statements. Forward-looking 
statements such as production forecasts are subject to a variety of risks and 
uncertainties which could cause actual events or results to differ materially 
from those reflected in the forward-looking statements. They include, among 
others, the accuracy of mineral reserve and resource estimates and related 
assumptions, inherent operating risks and those risk factors identified in the 
Company's most recent Annual Information Form prepared and filed with 
securities regulators which is available on SEDAR at www.sedar.com under the 
Company's name. There are no assurances the Company can fulfil such 
forward-looking statements and, subject to applicable securities laws, the 
Company undertakes no obligation to update such statements. Such 
forward-looking statements are only predictions based on current information 
available to management as of the date that such predictions are made; actual 
events or results may differ materially as a result of risks facing the 
Company, some of which are beyond the Company's control. Accordingly, 
readers should not place undue reliance on forward-looking statements.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This Management Discussion & Analysis contains "forward-looking statements and 
information" within the meaning of applicable securities laws which may 
include, but is not limited to, statements with respect to the future 
financial and operating performance of the Company, its subsidiaries and 
affiliated companies, its mining projects, the future price of gold, the 
estimation of mineral reserves and mineral resources, the realisation of 
mineral reserve and resource estimates, costs of production, estimates of 
initial capital, sustaining capital, operating and exploration expenditures, 
costs and timing of the development of new deposits, costs and timing of the 
development of new mines, costs and timing of future exploration and drilling 
programs, timing of filing of updated technical information, anticipated 
production amounts, requirements for additional capital, governmental 
regulation of mining operations and exploration operations, timing and receipt 
of approvals, consents and permits under applicable mineral legislation, 
environmental risks, title disputes or claims, limitations of insurance 
coverage and the timing and possible outcome of pending litigation and 
regulatory matters. Often, but not always, forward-looking statements and 
information can be identified by the use of words such as "plans", 
"expects", "is expected", "budget", "scheduled", "estimates", 
"forecasts", "intends", "targets", "aims", "anticipates" or "believes" 
or variations (including negative variations) of such words and phrases, or 
may be identified by statements to the effect that certain actions, events or 
results "may", "could", "would", "should", "might" or "will" be taken, occur 
or be achieved. Forward-looking statements and information involve known and 
unknown risks, uncertainties and other factors which may cause the actual 
results, performance or achievements of the Company and/or its subsidiaries 
and/or its affiliated companies to be materially different from any future 
results, performance or achievements expressed or implied by the 
forward-looking statements. Such factors include, among others, future prices 
of gold; general business, economic, competitive, political and social 
uncertainties; the actual results of current production, development and/or 
exploration activities; conclusions of economic evaluations and studies; 
fluctuations in the value of the United States dollar relative to the Canadian 
dollar, the Australian dollar, the Philippines Peso or the New Zealand dollar; 
changes in project parameters as plans continue to be refined; possible 
variations of ore grade or recovery rates; failure of plant, equipment or 
processes to operate as anticipated; accidents, labour disputes and other 
risks of the mining industry; political instability or insurrection or war; 
labour force availability and turnover; delays in obtaining financing or 
governmental approvals or in the completion of development or construction 
activities or in the commencement of operations; as well as those factors 
discussed in the section entitled "Risk Factors" contained in the Company's 
Annual Information Form in respect of its fiscal year-ended December 31, 2011, 
which is available on SEDAR at www.sedar.com under the Company's name. 
Although the Company has attempted to identify important factors that could 
cause actual actions, events or results to differ materially from those 
described in forward-looking statements and information, there may be other 
factors that cause actual results, performance, achievements or events to 
differ from those anticipated, estimated or intended. Also, many of the 
factors are outside or beyond the control of the Company, its officers, 
employees, agents or associates. Forward-looking statements and information 
contained herein are made as of the date of this Management Discussion & 
Analysis and, subject to applicable securities laws, the Company disclaims any 
obligation to update any forward-looking statements and information, whether 
as a result of new information, future events or results or otherwise. There 
can be no assurance that forward-looking statements and information will prove 
to be accurate, as actual results and future events could differ materially 
from those anticipated in such statements. Accordingly, readers should not 
place undue reliance on forward-looking statements and information due to the 
inherent uncertainty therein. All forward-looking statements and information 
made herein are qualified by this cautionary statement. This Management 
Discussion & Analysis may use the terms "Measured", "Indicated" and "Inferred" 
Resources. U.S. investors are advised that while such terms are recognised and 
required by Canadian regulations, the Securities and Exchange Commission does 
not recognise them. "Inferred Resources" have a great amount of uncertainty as 
to their existence and as to their economic and legal feasibility. It cannot 
be assumed that all or any part of an Inferred Resources will ever be upgraded 
to a higher category. Under Canadian rules, estimates of Inferred Resources 
may not form the basis of feasibility or other economic studies. U.S. 
investors are cautioned not to assume that all or any part of Measured or 
Indicated Resources will ever be converted into reserves. U.S. investors are 
also cautioned not to assume that all or any part of an Inferred Resource 
exists, or is economically or legally mineable. This document does not 
constitute an offer of securities for sale in the United States or to any 
person that is, or is acting for the account or benefit of, any U.S. person 
(as defined in Regulation S under the United States Securities Act of 1933, as 
amended (the "Securities Act")) ("U.S. Person"), or in any other jurisdiction 
in which such an offer would be unlawful.

Technical Disclosure

Dr Michael Roache, (PhD) - Head of Exploration, Mr Jonathan Moore - Group Mine 
Geology Manager, and Mr Knowell Madambi - Principal Development Engineer all 
of OceanaGold, are responsible for the technical disclosure in this document, 
and are Qualified Persons under the Canadian Securities Administrators' 
National Instrument 43-101 - Standards of Disclosure of Mineral Projects ("NI 
43-101"). Dr Roache is a member of both the AusIMM and Australasian 
Institute of Geoscientists while Messrs. Moore and Madambi are both members 
and Chartered Professionals with the AusIMM. Dr Roache, Messrs Moore and 
Madambi have sufficient experience, which is relevant to the style of 
mineralisation and type of deposits under consideration, and to the activities 
which they are undertaking, to qualify as Competent Persons as defined in the 
2004 Edition of the "Australasian Code for Reporting of Exploration Results, 
Mineral Resources and Ore Reserves" ("JORC Code"). Soil samples, and drill 
samples collected at 1 metre intervals or less, from both reverse circulation 
chips and sawn diamond core, were prepared and assayed by fire assay methods 
at either the SGS facilities at Macraes, Reefton, Westport and Waihi, New 
Zealand, or the ALS facilities in Brisbane and Townsville, Australia. 
Philippine soil samples were prepared and assayed at McPhar laboratories in 
Manila, Philippines. Standard reference materials were inserted to monitor the 
quality control of assay data. Dr Roache and Messrs. Moore, and Madambi 
consent to the inclusion in this document of the matters based on their 
information in the form and context in which the information appears.

For further scientific and technical information (including disclosure 
regarding mineral resources and mineral reserves) relating to the Reefton 
Project, the Macraes Project and the Didipio Project please refer to the NI 
43-101 compliant technical reports available at sedar.com under the Company's 
name.

OceanaGold Corporation
2012
Third Quarter Results September 30, 2012  
www.oceanagold.com

Management Discussion and Analysis of
Financial Condition and Results of Operations for
the Quarter Ended June 30, 2012

HIGHLIGHTS
    --  Revenue of $91.2 million for the quarter from gold sales of
        54,750 ounces at an average price of $1,665 per ounce and cash
        costs of $1,081 per ounce.
    --  EBITDA (earnings before interest, taxes, depreciation and
        amortisation, excluding gain/(loss) on undesignated hedges)*
        was $28.6 million, an increase of 12% versus the second
        quarter. (EBITDA including gain/(loss) on undesignated hedges
        was $27.6 million).
    --  The Company has narrowed and adjusted full year 2012 production
        and cash cost guidance to 225,000 - 230,000 ounces of gold at
        $1,000 - $1,050 per ounce. This is consistent with the current
        market consensus of 228,650 ounces of gold from New Zealand
        operations at cash costs of $1,023 per ounce, which is based on
        analysts covering OceanaGold.
    --  Commissioning has commenced at the Didipio Project with the
        main crusher commissioning on rock.  The project remains on
        schedule for milling in November.
    --  At Blackwater, drilling showed continuity of the vein structure
        950 metres below the lowest previous workings with the best
        result thus far being 1.1 metres @ 85.2 g/t gold from Hole
        WA22D.
    --  Corporate refinancing of $225 million was signed during the
        quarter with a syndicate of international banks.
    --  OceanaGold signed a minimum 5 year Offtake Agreement with
        Trafigura in relation to the sale and purchase of 100% of the
        gold/copper concentrate from the Didipio Project.
    --  Effective November 7, Michael Holmes will join OceanaGold as
        the Chief Operating Officer. Mark Cadzow has been appointed to
        the new role of Chief Development Officer and will be
        responsible for managing the project development team
        overseeing technical studies, expansions and new developments
        including the commissioning of the Didipio Project.

All statistics are compared to the corresponding 2011 period unless otherwise 
stated.

OceanaGold has adopted USD as its presentation currency and all numbers in 
this document are expressed in USD unless otherwise stated.

* EBITDA (earnings before interest, taxes, depreciation and amortisation, 
excluding gain/(loss) on undesignated hedges) is a non GAAP measure. Refer to 
page 26 for explanation of non GAAP measures.

OVERVIEW

Results from Operations

OceanaGold (the "Company") recorded revenue of $91.2 million in the third 
quarter of 2012 from sales of 54,750 ounces of gold at a cash cost of $1,081 
per ounce. Revenue for year to date (YTD) 2012 was $266.4 million from sales 
of 160,358 ounces of gold at cash costs of $1,077 per ounce sold.

Gold production for the third quarter 2012 was 49,514 ounces, which was down 
from the 55,709 ounces produced in the previous quarter. This decrease was 
attributable to lower grades through the mill overall from Macraes Open Pit 
and Reefton. Adverse weather conditions hampered mining activities at 
Macraes affecting access to higher grade benches. Additionally, a higher 
proportion of stockpiled oxide material was processed at Reefton. Gold sales 
were 10% higher than production for the quarter due to an increased drawdown 
of inventories (gold in circuit) from the previous quarter. Total production 
achieved for YTD 2012 was 156,065 ounces of gold.

The average gold price received in the third quarter 2012 was $1,665 per ounce 
and versus $1,613 per ounce in the second quarter. Operating cash cost per 
ounce sold increased to $1,081 versus the prior quarter of $1,029. This 
increase was attributable to a stronger New Zealand dollar, processing of low 
grade ore stockpiles and a decrease in inventory due to drawing down on gold 
in circuit inventory. The cost associated with production of this inventory 
was previously capitalised. The increase in cash costs were partly offset by 
lower electricity costs and an increase in ounces sold. The cash operating 
margin of $584 per ounce sold was in line with the previous quarter due to the 
higher gold ounces sold and higher average price of gold received offset by 
higher cash costs.

Total material mined was down 6% in the third quarter to 14.6 million tonnes 
compared to the previous quarter due to the unfavourable weather conditions in 
August that resulted in lower movements at Macraes Open Pit and at Reefton.

Mill throughput in the third quarter was 1.89 million tonnes versus 1.91 
million tonnes in the second quarter. The mill feed grade was lower at 1.01 
g/t compared to 1.15 g/t in the previous quarter. This was a result of lower 
grade ore mined out of the Macraes Open Pit and Reefton and processing of 
stockpiled oxide material at Reefton. While grades at Frasers Underground were 
above our expectation, mined ore tonnage was lower than expected resulting in 
fewer high grade tonnes processed during the quarter.

The overall recovery for the third quarter was 80.7%, versus the previous 
quarter's recovery rate of 79.0%. This increase was attributable to higher 
oxidation rates achieved through the autoclave at Macraes.

In the third quarter, the Company also announced that it had signed documents 
for term and revolving credit facilities with a syndicate of banks. The $225 
million credit facilities provides additional liquidity should it be required 
for repayment of the convertible bonds and includes a $50 million working 
capital facility.

Cash flow from operations for the third quarter was $13.3 million and $55.0 
million for YTD 2012. The cash balance at the end of the quarter was $24.2 
million, after a drawdown of $20 million on the working capital facility.

Production & Cost Guidance

In December 2011, the company reported FY2012 production guidance set at 
230,000 - 250,000 ounces of gold at cash costs of $900 - $980 per ounce 
(assumes NZD/USD exchange rate of $0.80). The current market consensus based 
on analysts covering the Company is 228,650 ounces of gold from the New 
Zealand operations at cash costs of $1,023 per ounce.

The Company has been guiding towards the lower end of the production range, 
however it has elected to narrow and adjust the range to 225,000 - 230,000 
ounces for the remainder of FY2012. As previously stated, the Company expects 
that higher grades at both Macraes Open Pit and Reefton will contribute to a 
strong finish to the year.

While unit cash costs per ounce will decline in the fourth quarter given the 
higher production rate, the strengthening New Zealand Dollar which is 
currently above the December 2011 forecast rate of NZD/USD $0.80 along with 
the adjusted production range has resulted in the Company adjusting its cash 
cost guidance to $1,000 - $1,050 per ounce for FY2012. 

Didipio Project

Construction at the Didipio Project progressed to plan during the quarter with 
commissioning activities now underway and on schedule for milling in November.

As at the end of the third quarter, construction of the Didipio Project was 
over 90% complete with all structural and mechanical completed. Concrete 
foundations were completed by the end of the quarter and those contractors 
have since demobilised. The structural steel erection and plate work was 
completed with the remaining work being the electrical cable installation and 
termination and process plant piping. Subsequent to the end of the quarter, 
the Company had run 12 power generating systems synchronously in readiness for 
the process plant energisation. The project currently has over 1,200 
contractors and employees and demobilisation of the construction workforce has 
commenced.

The Tailings Storage Facility (TSF) was completed in the third quarter and is 
ready to accept tailings. Piping to and from the TSF including the return 
water line was completed subsequent to the quarter end.

During the quarter, $46.8 million was spent on construction. Total spend since 
the project recommenced in June 2011 was $207.8 million. Total capital costs 
for construction and commissioning remain in line with the revised budget of 
$220 million plus $27 million working capital.

In the third quarter, open pit mining continued to provide competent waste 
rock for construction of the TSF, road sheeting, and other construction 
purposes. With the completion of these activities prior to the quarter end, 
the primary focus of the mining operations has been on mining ore in 
preparation for commissioning. In the third quarter, mining of oxide 
mineralisation was completed and fresh ore mining commenced and is being 
delivered to stockpiles on to the ROM pad.

Recruitment of operations managers and superintendents is complete and the 
current focus is on ramping up the operator training programs prior to the 
start of production. The Company expects a total workforce including 
contractors of 1,000 during full production.

Subsequent to quarter end, the Company was pleased to announce the signing of 
an Offtake Agreement with Trafigura. Under the terms of the minimum 5 year 
agreement, the Company will sell 100% of the Didipio gold/copper concentrate 
production to Trafigura at competitive terms and conditions and standard 
treatment and refining charges. Trafigura will manage all transportation and 
logistics from the mine to the smelter.

In the third quarter, the Company commenced construction of classrooms in 
Didipio and the nearby community of Alimit. Company funded water system 
development projects that provide a potable water supply for community 
residents were completed. The Company commenced the establishment of a 100 
hectare agroforestry plantation and continued to provide scholarships to local 
students. The local community development corporation formed in 2011 
("DiCorp") continued work on awarded contracts such as, the ongoing 
maintenance of the access road, waste and recycling services and employee 
transport services. During the quarter, the Company awarded DiCorp the 
housekeeping services for the camp accommodation.

Early in the third quarter, the Company was awarded a plaque of appreciation 
by the Mines and GeoSciences Bureau in the Philippines for its Health, Safety 
& Environment programs. The recognition marked the first time a mining 
company in the region had received the prestigious distinction.

Exploration

The Company invested $3.1 million on exploration during the third quarter with 
the majority ($2.7 million) incurred in New Zealand.

At Reefton, exploration during the quarter focused on greenfields and 
brownfields drilling and the deep drilling program at the Globe Progress Mine 
was completed during the third quarter.

Helicopter assisted diamond drilling was completed within the Krantz Creek 
(EP) 40 705 and Bullswool (EP) 50 216 Exploration Permits. The deep drilling 
at the historic Blackwater mine continued during the quarter.

The second deep drill hole (WA22C) and a daughter hole (WA22D) at the historic 
Blackwater Underground mine successfully intersected the Birthday Reef at 950 
metres down plunge (680 metre vertical) below previously mined workings (16 
Level). WA22C successfully intersected the reef at 1,632 metres down hole 
returning 0.61 metres (estimated true width of 0.5 metres) @ 15.65 g/t gold. 
Daughter hole WA22D successfully intersected the reef at 1,624 metres down 
hole, approximately 11 metres from WA22C, and returned 1.13 metres of reef 
(estimated true width of 1.0 metre) @ 85.2 g/t gold. The next planned drill 
hole (WA24) has been designed to test the northern strike extent of the 
Birthday Reef at a significant depth below the historical workings. This hole 
has commenced and the results are expected to be reported on in the first half 
of 2013.

Exploration drilling continued at the Frasers Underground mine with 
mineralisation being confirmed to the north and northeast of the current 
workings. Mineralisation remains open in both directions. Exploration drilling 
will continue in the down dip areas of Panel 2 of the underground to convert 
Inferred resources to Indicated resources.

Philippines exploration focused on preparation for scout drilling at Mogambos, 
D'Beau, and Papaya prospects in anticipation of the approval of the FTAA 
exploration extension which is expected in the near-term.
                                          - Table 1 -
                     Key Financial and Operating Statistics
                                                         

Financial      Q3
Statistics   Sep 30     Q2          Q3          YTD         YTD
              2012  Jun 30 2012 Sep 30 2011 Sep 30 2012 Sep 30 2011
                                                                

Gold Sales  
(ounces)     54,750    53,756      60,646      160,358     186,746
                                                                
               USD        USD         USD         USD         USD
                                                                

Average     
Price
Received
($ per
ounce)       1,665      1,613       1,706       1,661       1,548

Cash        
Operating
Cost ($
per
ounce)*      1,081*    1,029*         956      1,077*         851

Cash        
Operating
Margin
($ per
ounce)         584        584         750         584         697
                                                                

Non-Cash    
Cost ($
per ounce)     406        375         409         402         350
                                                                

Total       
Operating
Cost ($
per ounce)   1,487      1,404       1,365       1,479       1,201
                                                                

Total Cash  
Operating
Cost ($
per tonne
processed)   31.95      30.18       30.71       32.00       27.96
                                                             

Combined           Q3         Q2
Operating        Sep 30     Jun 30      Q3          YTD         YTD
Statistics        2012       2012   Sep 30 2011 Sep 30 2012 Sep 30 2011
                                                                    

Gold Produced
(ounces)         49,514     55,709     59,090      156,065     186,749
                                                                    

Total Ore
Mined
(tonnes)      1,674,062  1,571,658   2,024,496   4,653,069   5,792,878
                                                                    

Ore Mined
Grade
(grams/tonne)     1.08       1.29        1.12        1.22        1.18
                                                                    

Total Waste
Mined
(tonnes) incl
pre-strip     12,904,895 14,006,959 15,082,892  40,520,636  44,806,173
                                                                    

Mill Feed
(dry milled
tonnes)       1,889,121  1,909,670   1,888,978   5,605,495   5,685,986
                                                                    

Mill Feed
Grade
(grams/tonne)     1.01       1.15        1.21        1.08        1.23
                                                                    

Recovery (%)     80.7%      79.0%       82.5%       80.4%       83.1%
                                                          

Combined             Q3     Q2
Financial          Sep 30 Jun 30     Q3          YTD         YTD
Results             2012   2012  Sep 30 2011 Sep 30 2012 Sep 30 2011
                   $'000  $'000     $'000       $'000       $'000

EBITDA            
(excluding
gain/(loss)        28,614 25,632    43,270      77,532      120,261
on
undesignated
hedges)

Reported          
EBITDA
(including
gain/              27,578 25,632    43,270      76,496      120,261
(loss) on
undesignated
hedges)

Reported          
earnings/
(loss) after
income
tax                (397)    735     10,912      (3,525)     29,831
(including
gain/(loss)
on
undesignated
hedges)

* Cash operating costs per ounce has been adjusted in 2012 to reflect the 
decision to combine the administrative functions of the Melbourne, Dunedin and 
Makati offices under single management from 1 January 2012. In particular, 
previously the activities of the Dunedin office, such as finance, legal, 
regulatory, information technology, technical and supply services were treated 
as part of mine operating costs. With the start-up of the Didipio operations 
scheduled for Q4 2012, this change reflects the development of the business 
into a multi-regional mining company.

PRODUCTION

Gold production for the third quarter of 2012 was 49,514 ounces versus 55,709 
ounces from the previous quarter. This decrease was attributable to lower 
mining movements due to adverse weather conditions and as a result, less 
higher grade ore was accessed at both Macraes and Reefton. Additionally, a 
higher proportion of stockpiled oxide material was processed at Reefton. 
Higher grade benches at Macraes Open Pit are now being readily accessed 
resulting in improved head grade through the mill. At Reefton, higher grade 
ore from the Souvenir Pit is being delivered to the ROM pad and it is expected 
that most of the mining fleet will be focused there in November and 
December. The total production for YTD 2012 was 156,065 ounces of gold.

Cash operating costs for the third quarter of 2012 were $1,081 per ounce sold 
versus $1,029 per ounce in the second quarter. This increase was attributable 
to a stronger New Zealand dollar, processing of low grade ore stockpiles and a 
decrease in inventory due to drawing down on gold in circuit inventory. The 
cost associated with production of this inventory was previously capitalised. 
The increase in cash costs was partly offset by lower electricity costs and an 
increase in ounces sold. The cash operating margin of $584 per ounce sold was 
in line with the previous quarter due to the higher gold ounces sold and 
higher average price of gold received offset by higher cash costs.

OPERATIONS

Macraes Goldfield (New Zealand)

The Macraes operations (Open Pit and Underground) incurred three lost time 
injuries (LTI)s during the third quarter. An underground operator sustained an 
injury to his hand when clearing a blockage, an underground operator sustained 
shoulder and rib injuries when he was struck by a boom and a processing 
operator sustained a back injury whilst clearing spillage. In all three cases, 
failure to follow the required standard operating procedures was determined to 
be the cause and steps have been taken to retrain personnel.

The Macraes Goldfield produced 36,874 gold ounces in the third quarter 
compared to 39,012 gold ounces in the previous quarter. This decrease in 
production was attributable to lower grade mined and milled from Macraes Open 
Pit due to lower than expected movements. The amount of ore mined from 
Frasers Underground was lower than our expectation, however it was partially 
offset by better grades.

Total material mined from the Macraes Open Pit was 9.6 million tonnes in the 
quarter, down 7.3% on the previous quarter. In August, the mine experienced 
unusually adverse weather conditions, which resulted in 10 days of less ore 
mined and lower grade stockpiles being processed in place of higher grade ore 
from the open pit. Mining continued in the Frasers 5 cutback area to expose 
higher grade benches heading into the fourth quarter.

At Frasers Underground, mining continued in Panel 2 and in the Deeps area. 
Total ore mined for the quarter was up 3.0% on the second quarter to 184,000 
tonnes however, was lower than expected due to lower jumbo utilisation and 
bogger availability.

Mill throughput was 1.47 million tonnes compared to 1.48 million tonnes in the 
previous quarter. Mill feed grade for the quarter was 0.96 g/t, compared to 
the previous quarter of 1.03 g/t. Delayed access to higher grade areas of the 
open pit on account of adverse weather conditions and lower than expected 
tonnes of ore mined from the underground were the main contributors though 
this was offset slightly by 12.0% higher grade from Frasers Underground.

The process plant recovery in the third quarter improved to 81.1% compared to 
79.1% the previous quarter due to higher oxidation rates achieved through the 
autoclave.

Mining of the higher grade ore at Macraes Open Pit is now underway and will 
continue into 2013.

Reefton Goldfield (New Zealand)

There were no LTIs during the third quarter at the Reefton operations.

Gold produced for the quarter was 12,640 ounces, versus 16,697 ounces in the 
prior quarter. The reduction of ounces produced was due to lower grades mined 
and to lower feed grades from treating a higher proportion of stockpiled oxide 
material. Additionally, due to an extreme snow event, the plant was shut down 
for 3, 12-hour periods while repairs were made to the power infrastructure 
into the plant that was damaged as a result of the event.

Total material mined was 4.8 million tonnes, down 5.5% from the previous 
quarter. The Souvenir Pit mining cutback was completed during the quarter and 
ore from that higher grade pit is now being mined and should result in higher 
mill grade for the fourth quarter.

The total ore mined for the third quarter improved to 323,123 tonnes versus 
268,365 tonnes in the prior quarter. The increase in ore mined was 
attributable to the Globe Pit producing more tonnage, although at lower grades.

Process plant throughput decreased by 1.9% to 423,764 tonnes, versus the 
previous quarter of 431,921 tonnes. The reduction in plant throughput was due 
to adverse weather conditions that resulted in a shutdown of the plant. Grade 
through the mill was 1.16 g/t in the third quarter versus 1.53 g/t in the 
previous quarter. The decrease was due to treating a higher proportion of 
stockpiled oxide ore and the lower grade of ore mined. Gold recovery improved 
to 79.5% versus 78.8% in the previous quarter.
                                            - Table 2 -
                              Macraes Operating Statistics
                                                           

Macraes
Goldfield         Q3        Q2
Operating       Sep 30    Jun 30      Q3          YTD         YTD
Statistics       2012      2012   Sep 30 2011 Sep 30 2012 Sep 30 2011
                                                                  

Gold Produced
(ounces)        36,874    39,012     42,136      110,737     130,400
                                                                  

Total Ore
Mined
(tonnes)      1,350,939 1,303,293  1,701,287   3,742,469   4,695,535
                                                                  

Ore Mined
Grade
(grams/tonne)    1.06      1.23        1.01        1.15        1.05
                                                                  

Total Waste
Mined
(tonnes) incl
pre-strip     8,457,277 9,226,327 10,982,615  26,866,619  33,917,644
                                                                  

Mill Feed
(dry milled
tonnes)       1,465,357 1,477,749  1,431,238   4,335,166   4,346,288
                                                                  

Mill Feed
Grade
(grams/tonne)    0.96      1.03        1.10        0.99        1.12
                                                                  

Recovery (%)     81.1%     79.1%      83.1%       80.3%       83.6%
                                             - Table 3 -
                                Reefton Operating Statistics
                                                             

Reefton
Goldfields        Q3
Operating       Sep 30      Q2          Q3          YTD         YTD
Statistics       2012   Jun 30 2012 Sep 30 2011 Sep 30 2012 Sep 30 2011
                                                                    

Gold Produced
(ounces)        12,640     16,697      16,954      45,328      56,349
                                                                    

Total Ore
Mined
(tonnes)       323,123     268,365     323,209     910,600   1,097,343
                                                                    

Ore Mined
Grade
(grams/tonne)    1.18        1.57        1.70        1.49        1.78
                                                                    

Total Waste
Mined
(tonnes) incl
pre-strip     4,447,618  4,780,632   4,100,277  13,654,017  10,888,529
                                                                    

Mill Feed
(dry milled
tonnes)        423,764     431,921     457,740   1,270,329   1,339,698
                                                                    

Mill Feed
Grade
(grams/tonne)    1.16        1.53        1.54        1.38        1.59
                                                                    

Recovery (%)     79.5%      78.8%       80.7%       80.5%       81.4%

DEVELOPMENT

Didipio Project (The Philippines)

There were two LTIs in the third quarter. Early into the third quarter, the 
Company regretfully announced the fatality of a contractor in an incident 
arising from a severe rain event that impacted the site. A safety 
investigation was undertaken and appropriate actions were employed to prevent 
reoccurrence.

The Didipio Project currently has over 1,200 contractors and employees, of 
which over 98% are Filipinos, on site engaged in construction activities. 
Demobilisation of the construction workforce has commenced.

The Project is entering the final stages of the construction with all major 
equipment including the power generating plant, SAG and Ball mills, flotation 
circuit and primary crusher in place. All reagents and media have been 
delivered to the site and the majority of the plant spares/first fills 
inventory is in storage. All major mine roads are completed. The high and 
low voltage switch rooms are installed for the process plant.

Concrete foundations were completed by the end of the quarter and those 
contractors have since demobilised. The structural steel erection and plate 
work was completed during the quarter with the remaining outstanding work 
being electrical cable installation and termination and process plant piping.

The Tailings Storage Facility (TSF) was completed in the third quarter and is 
ready to accept tailings. Piping to and from the TSF including the return 
water line was completed subsequent to the quarter end.

Subsequent to the quarter end, 12 power generating units had been run 
synchronously in readiness for the process plant energisation. Commissioning 
of the process plant has commenced and the Company expects to commence milling 
in November.

During the quarter, $46.8 million was spent on the construction. Total spend 
on construction since the project recommenced in June 2011 was $207.8 million. 
Capital costs for construction and commissioning remain in line with the 
revised budget of $220 million plus $27 million working capital.

In the third quarter, open pit mining continued to provide competent waste 
rock for construction of the TSF, road sheeting, and other construction 
purposes. With the completion of these activities prior to the quarter end, 
the primary focus of the mining operations has been on mining ore in 
preparation for the commissioning activities. The mining of the 20 metre thick 
oxide mineralisation in stage 2 of the open pit was completed in the third 
quarter and fresh ore mining commenced during the quarter. The fresh ore 
continues to be stockpiled on the ROM pad in preparation for the first ore 
through the mill.

Recruitment of operations managers and superintendents was completed in the 
third quarter and the current focus is on ramping up the operator training 
programs in preparation for production. The Company expects a total 
workforce including contractors of 1,000 during full production.

The mining contractor has taken delivery of the larger haul trucks and 
excavators to complement the current equipment at site. This will continue 
through to the first quarter of 2013.

Subsequent to quarter end, the Company was pleased to announce the signing of 
an Offtake Agreement with Trafigura. Under the terms of the minimum 5 year 
agreement, the Company will sell 100% of the Didipio gold/copper concentrate 
production to Trafigura at competitive terms and conditions and standard 
treatment and refining charges. Trafigura will manage all transportation and 
logistics from the mine to the smelter.

As part of its Financial or Technical Assistance Agreement (FTAA) at Didipio, 
the Company commits 1.5% of its operating costs to funding initiatives under 
the Social Development and Management Plan (SDMP). The SDMP benefits are 
shared amongst the host community (Didipio) and nine other upstream and 
downstream communities.

During the third quarter of 2012, a number of projects funded by the Company 
as part of its SDMP were completed. This included the construction of two 
water system development projects in Barangay Tucod, Cabarroguis Quirino, 
providing a potable water supply for the community residents. Also, the 
concreting of a farm-to-market road for Barangay Dingasan was completed in the 
quarter.

As part of OceanaGold's commitments in the Memorandum of Agreement with the 
Didipio Community, the Company funded construction project of road widening 
and slope stabilisation and drainage got underway along the central road 
through the Didipio community.

Additionally, construction commenced on classrooms in Didipio and the nearby 
community of Alimit in September. The Company maintained salary assistance for 
20 teachers in Didipio and surrounding villages. During the quarter, the 
company commenced an agroforestry program in preparation for the establishment 
of a planned 100 hectares plantation. This is a long term program aimed at 
developing a sustainable agroforestry business in the Didipio area which will 
bring sustainable benefits to the community.

In the third quarter, the local community development corporation formed in 
2011 ("DiCorp") continued work on ongoing maintenance of the access road, 
waste and recycling services, employee transport services, equipment hire and 
construction services. During the quarter, the Company awarded DiCorp the 
housekeeping services of the camp accommodation.

The Company continues to maintain scholarship assistance to 75 college 
students from host and neighbouring communities enrolled in local universities 
as of the first semester 2012-13. Additionally, the Company continued to 
provide tuition and miscellaneous assistance for students from the 10 
beneficiary communities.

Early in the third quarter, the Company was awarded a plaque of appreciation 
by the Mines and GeoSciences Bureau in the Philippines for its Health, Safety 
& Environment programs. The recognition marked the first time a mining company 
in the region had received the award.

All figures available on website.
Figure 1: Overview of Process Plant, October 2012
Figure 2: Ball and SAG mills at night, October 2012
Figure 3: Crushed rock stockpile, October 2012

EXPLORATION

New Zealand

Exploration expenditure in New Zealand was $2.7 million during the third 
quarter and $9.7 million for YTD 2012.

Reefton Goldfield

The deep drilling program at Reefton was completed during the third quarter. 
The deep drilling at the historic Blackwater mine continued during the 
quarter. Helicopter assisted diamond drilling was conducted on Krantz Creek 
Exploration Permit (EP) 40 705 and Bullswool Exploration Permit (EP) 50216 
(Figure 4).

The deep drilling program at the historic Blackwater Underground mine 
commenced in November 2011. In April 2012, the Company announced that the 
first drill hole WA21A(1) successfully intersected the reef at 1,316 metres 
down hole and approximately 605 metres down-plunge (430 vertical metres) from 
the base of the old workings. The assay results from WA21A of 1.0 metres 
(estimated true width of 0.5 metres) grading 23.3 g/t Au were consistent with 
the average grade and thickness obtained from historical mining records. In 
late August, the second deep drill hole (WA22C) successfully intersected the 
reef at 1,632 metres down hole and 950 metres down plunge (680 vertical 
metres) from the base of the previously mined workings (16 Level). WA22C 
intersected 0.61 metres (estimated true width of 0.5 metres(1)) @ 15.65 g/t 
gold (Figure 5 and Table 4). In late September, a daughter hole WA22D 
successfully intersected the reef at 1,624 metres down hole, approximately 11 
metres away from the parent hole. WA22D intersected 1.13 metres (estimated 
true width of 1.0 metres) of quartz reef @ 85.2 g/t gold (Figure 5 and Table 
4). The next planned hole (WA24) has been designed to test the northern strike 
extent to the Birthday Reef at a significant depth below the historical 
workings. This hole is now underway and the results are expected in Q2 2013.

At Reefton, the 21-drill hole program was completed in the third quarter 2012 
(Figure 4). Of the 21 holes, 10 consolidated mineralisation within the Globe 
Open Pit while 8 tested extensions, known as Globe Deeps, beneath the final 
pit design. Assay results have been received for all of the 18 holes. Results 
are shown in Table 5. The assay results from all drill holes are expected to 
be received and integrated into a revised resource model in the fourth quarter.

At the Krantz Creek Exploration Permit (EP) 40 705, a three-hole (KC001 to 
KC003) 508 meters, helicopter-assisted diamond drilling program was completed 
in August targeting coincident gold and arsenic geochemical anomalies within 
the Krantz Creek shear. The area is located 12 kilometres SSW of the Reefton 
processing plant (Figure 4). Assay results for the Krantz Creek diamond drill 
holes (KC001 to KC003) were received during the quarter. Best results include 
3.0 metres (down hole) @ 1.21 g/t Au from 15 metres in KC002 (Table 6).

A two-hole, 500 metre diamond drill program commenced during the third quarter 
in the Bullswool Exploration Permit (EP) 50 216 located 12.5 kilometres SSW of 
the Reefton processing plant (Figure 4). The assay results from all drill 
holes are expected to be received in the fourth quarter 2012.

Mapping is continuing in the Blackwater Exploration Permit (EP) 40 542 with 
the aim of defining potential narrow, high-grade Blackwater-style targets.

Macraes Goldfield

Underground exploration and resource infill drilling continued at the Frasers 
Underground mine with 5,532 metres from 21 diamond drill holes completed from 
the exploration drive in the third quarter. The drilling confirmed 
mineralisation extends to the north and north-east of the underground workings 
and the deposit remains open in both directions.

A further 129 metres comprising one diamond drill hole was completed from a 
jump-up rise on the western edge of Panel 2 to test for extensions to the 
mineralisation in this area. The program is now completed. Mining of a second 
rise commenced towards the end of the quarter and will be used to test 
southern extensions of the Lower Zone in the fourth quarter.

(1)The down plunge and vertical depths of WA21C intercept vary from that 
reported in Q2 2012 due to recalculation of the extent of historic mining 
activity.

All figures available on website.

Figure 4: Reefton Exploration
Overview

Figure 5: Oblique view of the Blackwater (Birthday Reef) historical mine 
(drill intercept locations with estimated true widths and gold assay results)

Table 4: Blackwater Deep Drilling Results received during Q3 2012
                                                            

Hole ID              From      To   Intercept  True Width    Au
                     (m)      (m)      (m)        (m)*     (g/t) ^

 WA22C            1,630.75 1,632.91     2.16         1.5     5.73
        Including 1,630.75 1,630.99     0.24         0.1     2.94
                  1,630.99 1,632.30     1.31         0.9     1.63
                  1,632.30 1,632.91     0.61         0.5    15.65

 WA22D            1,616.00 1,617.00      1.0        0.75     2.23
                  1,620.60 1,621.00      0.4         0.3     1.87
                  1,621.00 1,622.00      1.0        0.75     1.09
                  1,623.90 1,625.03     1.13          1      85.2
                                                                

Results quoted in Table 4 are intercepts returning ≥1 grams per tonne. * = 
The true width of drill intercepts may vary slightly from those reported due 
to local variations in the orientation of the reef. ^ = Assayed by screen fire 
assay (method code Au-SCR22AA) at the Townsville ALS Laboratory, Australia.

Table 5: Globe Deeps Drilling Results received during Q3 2012
                                                    

Hole ID           From   To   Intercept True Width      Au
                   (m)   (m)     (m)       (m)        (g/t)
                                                          

RCD0016            259   280       21         *        3.16

RCD0016            282   284        2         *        1.57

RCD0016            294   296        2         *        1.10

RCD0016            300   303        3         *        1.12

RCD0019            270   278        8         *        2.03

RCD0020           239.6  241      1.4         *        0.64

RCD0021            191   192        1         *        1.57

RCD0021            196   206       10         *        1.10

RCD0022            260   277       17         *        2.55

RCD0022            283   300       17         *        4.16

RCD0023            185   193        8         *        2.12

RCD0023            199   205        6         *        1.23

RCD0024            224   230        6         *        1.98

RCD0024            253   261        8         *        1.68

RCD0025            158   162        4         *        1.76

RCD0025            201   205        4         *        1.70

RCD0026            180   183        3         *        3.94

RCD0026            200   214       14         *        2.41

RCD0027            218   230       12         *        2.17

RCD0027            234   238        4         *        1.74

RCD0027            261   276       15         *        2.28

RCD0028            219   220        1         *        2.78

RCD0028            261   265        4         *        2.24

RCD0028            269   279       10         *        0.98

RCD0029            235   245       10         *        3.14

RCD0029            253   259        6         *        1.49

RCD0031            218   233       14         *        2.09

RCD0032            214  217.2     3.2         *        4.03

RCD0032            219   220        1         *        1.81

RCD0032           222.5  225      2.5         *        1.29

RCD0033            225   228        3         *        2.12

RCD0033            270   275        5         *        1.64

RCD0033            307   315        8         *        1.69

RCD0034           271.5  305       32         *        1.62

RCD0034 including  282   295       15         *        2.59

RCD0035            240  250.9    10.9         *        1.86

RCD0035           255.2  267       12         *        1.88

RCD0035            273   276        3         *        2.81
    * = true widths were not calculated because of variable
            orientations of mineralised structures
                 Table 6: Krantz Creek EP 40 705 Drill Results
                                                                   

Hole ID                        From To  Intercept  True Width   Au
                               (m)  (m)    (m)         (m)     (g/t)
                                                                   

KC001   No Significant Results                                     

KC002                           15  18        3          2.3   1.21

KC003   No Significant Results                                     
                                                   

Results quoted in Table 6 are intercepts returning ≥1 gram metres (true 
width (metre) multiplied by gold grade in grams per tonne)

PHILIPPINES

Exploration expenditure in the Philippines for the third quarter of 2012 
totalled $0.4 million and $1.1 million YTD 2012.

Didipio

Exploration continues on the FTAA and adjacent tenements during the quarter 
(Figure 6). Within the FTAA, activity was focused on preparation of the 
Mogambos, D'Beau, and Papaya prospects for scout drilling in anticipation of 
the approval of the FTAA Exploration Period Extension.

Scout drilling at Mogambos, 4 kilometres north of Didipio, will test 
coincident Au-Cu soil anomalies over an area of 1.6 kilometres by 1 
kilometre. Drill pad and access preparations commenced in late September.

The D'Beau prospect, located 1 kilometre southeast of Didipio, comprises 
narrow Au-Cu mineralised monzonite dikes. Previous sampling of the dikes 
returned assays of up to 3.81 g/t Au and 1.16% Cu.

These dikes may be derived from a larger mineralised intrusive body at depth. 
A drill program is being designed to test this concept.

Soil samples from the Papaya prospect were re-assayed for Vanadium (V), an 
element associated with epithermal gold mineralisation in alkalic rocks 
elsewhere. Results revealed that 16 of the 714 pulps analysed, yielded 
high V assays from 0.1% to 0.4% that correspond with elevated Au-Cu soil 
geochemistry. Five drill holes are planned to further test geochemical 
anomaly and mineralised structures.

Mapping, and limited soil sampling was carried out at the MMB area. 
Hydrothermally altered rocks were mapped at the boundary between Wangal and 
Binugawan that coincide with an area of anomalous gold in soils. One sample 
of the altered rocks at Wangal returned 0.88 g/t Au, 0.62% Mo, and 381 ppm As. 
Additional mapping and sampling works are scheduled at MMB for the fourth 
quarter 2012.

All figures available on website

Figure 6: Summary results of the Mogambos, MMB, TNN, Papaya, and D'Beau 
prospects showing soil and rock sampling, Didipio FTAA.

FINANCIAL SUMMARY
The Table below provides selected financial data comparing Q3 2012 with Q2 
2012, Q3 2011 and comparing YTD 2012 to YTD 2011.

 ____________________________________________________________________
|              |   Q3   |   Q2   |    Q3     |    YTD    |    YTD    |
|STATEMENT OF  | Sep 30 | Jun 30 |Sep 30 2011|Sep 30 2012|Sep 30 2011|
|OPERATIONS    |  2012  |  2012  |   $'000   |   $'000   |   $'000   |
|              | $'000  | $'000  |           |           |           |
|______________|________|________|___________|___________|___________|
|Gold sales    | 91,153 | 86,719 |   103,455 |   266,430 |   289,006 |
|______________|________|________|___________|___________|___________|
|Cost of sales,|        |        |           |           |           |
|excluding     |        |        |           |           |           |
|depreciation  |(61,173)|(57,523)|  (57,453) | (179,383) | (157,935) |
|and           |        |        |           |           |           |
|amortisation  |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|General &     |(3,649) |(3,561) |   (4,008) |  (10,304) |  (10,900) |
|Administration|        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Foreign       |        |        |           |           |           |
|Currency      |   941  |   (31) |    1,322  |    (711)  |      (8)  |
|Exchange Gain/|        |        |           |           |           |
|(Loss)        |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Other income/ |  1,342 |    28  |     (46)  |    1,500  |      98   |
|(expense)     |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Earnings      |        |        |           |           |           |
|before        |        |        |           |           |           |
|interest, tax,|        |        |           |           |           |
|depreciation &|        |        |           |           |           |
|amortisation  | 28,614 | 25,632 |   43,270  |   77,532  |   120,261 |
|(EBITDA)      |        |        |           |           |           |
|(excluding    |        |        |           |           |           |
|gain/(loss) on|        |        |           |           |           |
|undesignated  |        |        |           |           |           |
|hedges)       |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Depreciation  |        |        |           |           |           |
|and           |(21,938)|(20,009)|  (24,424) |  (63,770) |  (64,302) |
|amortisation  |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Net interest  |        |        |           |           |           |
|expense and   |(5,803) |(4,034) |   (3,307) |  (13,840) |   (9,386) |
|finance costs |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Earnings/     |        |        |           |           |           |
|(loss) before |        |        |           |           |           |
|income tax and|   873  |  1,589 |   15,539  |     (78)  |   46,573  |
|gain/(loss) on|        |        |           |           |           |
|undesignated  |        |        |           |           |           |
|hedges        |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Tax (expense)/|        |        |           |           |           |
|benefit on    |  (545) |  (854) |   (4,627) |   (2,722) |  (16,742) |
|earnings/ loss|        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Earnings/     |        |        |           |           |           |
|(loss) after  |        |        |           |           |           |
|income tax and|        |        |           |           |           |
|before gain/  |   328  |   735  |   10,912  |   (2,800) |   29,831  |
|(loss) on     |        |        |           |           |           |
|undesignated  |        |        |           |           |           |
|hedges        |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Gain/(loss) on|        |        |           |           |           |
|fair value of |(1,036) |     -  |       -   |   (1,036) |       -   |
|undesignated  |        |        |           |           |           |
|hedges        |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Tax (expense)/|        |        |           |           |           |
|benefit on    |        |        |           |           |           |
|gain/loss on  |   311  |     -  |       -   |      311  |       -   |
|undesignated  |        |        |           |           |           |
|hedges        |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Net Profit/   |  (397) |   735  |   10,912  |   (3,525) |   29,831  |
|(Loss)        |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Basic /       |        |        |           |           |           |
|Diluted       |$(0.00) |  $0.00 |    $0.04  |   $(0.01) |    $0.11  |
|earnings per  |        |        |           |           |           |
|share         |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|              |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|CASH FLOWS                                                          |
|____________________________________________________________________|
|Cash flows    |        |        |           |           |           |
|from Operating| 13,306 | 20,912 |   22,216  |   55,035  |   98,545  |
|Activities    |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Cash flows    |        |        |           |           |           |
|used in       |(68,742)|(69,261)|  (37,491) | (203,148) |  (98,851) |
|Investing     |        |        |           |           |           |
|Activities    |        |        |           |           |           |
|______________|________|________|___________|___________|___________|
|Cash flows    |        |        |           |           |           |
|used in       |  6,820 |(4,561) |   (2,733) |   (1,356) |  (11,515) |
|Financing     |        |        |           |           |           |
|Activities    |        |        |           |           |           |
|______________|________|________|___________|___________|___________|

 _________________________________________________________
|                                 |   As at   |   As at   |
|BALANCE SHEET                    |Sep 30 2012|Dec 31 2011|
|                                 |   $'000   |   $'000   |
|_________________________________|___________|___________|
|Cash and cash equivalents        |   24,165  |   169,989 |
|_________________________________|___________|___________|
|Other Current Assets             |   69,560  |   56,491  |
|_________________________________|___________|___________|
|Non Current Assets               |   796,756 |   591,155 |
|_________________________________|___________|___________|
|Total Assets                     |   890,481 |   817,635 |
|_________________________________|___________|___________|
|Current Liabilities              |   149,135 |   123,623 |
|_________________________________|___________|___________|
|Non Current Liabilities          |   242,092 |   215,772 |
|_________________________________|___________|___________|
|Total Liabilities                |   391,227 |   339,395 |
|_________________________________|___________|___________|
|Total Shareholders' Equity       |   499,254 |   478,240 |
|_________________________________|___________|___________|

RESULTS OF OPERATIONS

Net Earnings

The Company reported a third quarter net loss of $0.4 million versus a net 
profit of $0.7 million in the second quarter 2012. This result was largely 
attributable to higher cost of sales which was impacted by a stronger New 
Zealand dollar and depletion of low grade ore; lower interest income; and loss 
on both gold put options and forward rate contracts entered into during the 
quarter as a condition for securing the USD banking facilities. These factors 
were partly offset by higher ounces of gold sold and higher average gold price 
received in the third quarter.

Gold sold in the third quarter was 54,750 ounces, which represents a 1.8% 
increase from the previous quarter. This increase was attributable to draw 
down of gold inventories in the process circuit. The average price received 
was $1,665 versus $1,613 per ounce in the second quarter.

Gold production for the third quarter 2012 was 49,514 ounces, which was down 
from the 55,709 ounces produced in the previous quarter. This decrease was 
attributable to lower grades through the mill overall from Macraes Open Pit 
and Reefton. Adverse weather conditions hampered mining activities at Macraes 
affecting access to higher grade benches. Additionally, a higher proportion 
of stockpiled oxide material was processed at Reefton. Gold sales were 10% 
higher than production for the quarter due to increased drawdown of 
inventories (gold in circuit) from the previous quarter. The cost associated 
with production of this inventory was previously capitalised.

The Company reported EBITDA (excluding loss on undesignated hedge) of $28.6 
million in the third quarter compared to $25.6 million in the second quarter 
of 2012. This was due to an increase in gold ounces sold and higher gold price 
received which was partly offset by an increase in cost of sales.

The net result before income tax and before gain/(loss) on undesignated hedges 
was a profit of $0.9 million for the third quarter 2012 compared to a profit 
of $1.6 million in the second quarter.

Sales Revenue

Gold revenue in the third quarter 2012 of $91.2 million is a 5.1% increase 
over the second quarter due to higher ounces of gold sold and higher average 
price of gold received.

The average gold price received in the third quarter was $1,665 per ounce 
compared to $1,613 in the previous quarter. Gold sales for the third quarter 
2012 of 54,750 ounces were 1.8% higher than the previous quarter's sales of 
53,756 ounces. The increase in gold ounces sold was due to a higher draw down 
of gold in circuit in the quarter.

Operating Costs & Margins

Cash costs per ounce sold were $1,081 for the third quarter, an increase of 
5.1% compared to second quarter 2012 costs of $1,029. This increase was 
attributable to a stronger New Zealand dollar, processing of low grade ore 
stockpiles and to a decrease in inventory due to drawing down on gold in 
circuit inventory. The cost associated with production of this inventory was 
previously capitalised. The increase in cash costs was partly offset by lower 
electricity costs and an increase in ounces sold.

The average cash margin was $584 per ounce for the third quarter 2012, was in 
line with the second quarter. This reflected the higher gold price received 
and higher ounces sold offset by the higher cash cost per ounce sold.

Depreciation and Amortisation

Depreciation and amortisation charges include amortisation of mine 
development, deferred pre- stripping costs and depreciation on equipment.

Depreciation and amortisation charges are calculated on a unit of production 
basis and totalled $21.9 million for the third quarter 2012 compared to $20.0 
million in the previous quarter.

Net Interest Expense and finance costs

The net interest expense of $5.8 million for the third quarter 2012 increased 
from the previous quarter of $4.0 million, reflecting the amortisation of 
transaction costs and establishment fees related to the banking facility 
obtained during the quarter.

Undesignated Hedges Gains/Losses

Unrealised gains and losses calculated as a fair value adjustment of the 
Company's undesignated hedges are brought to account at the end of each 
reporting period and reflect changes in the spot gold price and changes in 
market premiums of AUD forwards. These valuation adjustments as at 
September 30, 2012, reflect a loss for year to date 2012 of $1.0 million.

Details of the derivative instruments held by the Company at quarter end are 
summarised below under "Derivative Assets/ Liabilities".

DISCUSSION OF CASH FLOWS

Operating Activities

Cash inflows from operating activities were $13.3 million during the quarter 
compared to $22.2 million in the third quarter 2011. The decrease reflected 
lower ounces sold, lower average price per ounce received and higher cost of 
sales when compared to the same period last year.

Investing Activities

Investing activities comprised expenditures for pre-strip mining, sustaining 
capital and exploration expenditure at the New Zealand operations, plus 
capitalised development costs mainly associated with the construction of the 
Didipio Project in the Philippines.

Cash used for investing activities totalled $68.7 million during the quarter 
compared to $37.5 million in the same quarter a year ago. The expenditure 
reflects predominantly constructions costs for the Didipio Project of $46.8 
million during the third quarter.

Financing Activities

Financing inflows for the third quarter 2012 were $6.8 million compared to 
cash outflows of $2.7 million in third quarter 2011. This reflects the 
drawdown of $20 million from the new working capital facility for additional 
liquidity, offset by the payment of related transaction costs, establishment 
fees and line fees. Other cash outflows included $5.8 million for finance 
leases.

DISCUSSION OF FINANCIAL POSITION AND LIQUIDITY

Company's funding and capital requirements

For the quarter ended Sept 30, 2012, the Company recorded a net loss of $0.4 
million. As at that date, cash funds held were $24.2 million. Net current 
liabilities were $55.4 million at quarter end which includes a current 
liability of the convertible bond repayment due in December 2012.

During the third quarter, the Company announced that it had signed documents 
for term and revolving credit facilities with a syndicate of six banks. The 
$225 million credit facility will provide additional liquidity should it be 
required for repayment of convertible bonds, A$53 million convertible bonds 
maturing in December 2012 and A$110 million convertible bonds maturing in 2013 
and includes a $50 million working capital facility. As at the quarter end 
$20 million was drawn down from the working capital facility.

Commitments

OceanaGold's capital commitments as at September 30, 2012 are as follows:
               
              Sept 30, 2012
                      $'000

Within 1 year        33,867

This includes equipment for New Zealand operations and contracts supporting 
the construction and operations of the Didipio Project.

Financial position

Current Assets

As at September 30, 2012 current assets were $93.7 million compared to $142.6 
million at the end of the June 30, 2012. Current assets have decreased by 
$48.9 million primarily due to a decrease in cash, being used for construction 
of the Didipio Project.

Non-Current Assets

At September 30, 2012 non-current assets were $796.8 million compared to 
$717.4 million at June 30, 2012. The increase mainly reflects expenditure of 
$71.5 million on Property, Plant and Equipment, and Mining Assets resulting 
from the acquisition of additional equipment, some of which was previously 
leased being greater than depreciation, and further capitalised expenditure in 
the third quarter 2012 for the construction of the Didipio Project.

Current Liabilities

Current liabilities increased by $0.2 million in the third quarter to $149.1 
million compared to $148.9 million in second quarter. This increase was 
attributable mainly to the recognition of a hedge liability on the forward 
rate agreement entered into as part of obtaining USD banking facilities.

Non-Current Liabilities

Non-current liabilities were $242.1 million at September 30, 2012, compared 
with $221.8 million at June 30, 2012. The increase reflects the $20 million 
drawdown of the working capital facility.

Derivative Assets / Liabilities

As part of satisfying the Conditions Precedent of the Credit Facility the 
Company entered into a contract for gold put options covering 82,998 ounces of 
gold from New Zealand production at a strike price of US$1,400 covering a 
period from October 2012 to June 2013. In addition, the Company purchased a 
forward contract for A$168.5M as a hedge against foreign exchange movements to 
ensure that the potential US denominated credit facility draw downs would be 
sufficient in the repayment of the AUD denominated convertible notes maturing 
in December 2012 and December 2013. These hedges are undesignated and do not 
qualify for hedge accounting.

A summary of OceanaGold's marked to market derivatives is as per below:
                                            
                        Sep 30 2012 Dec 31 2011
                           $'000       $'000

Current Assets                              

Forward rate agreements        -           -

Gold put options              423          -
                              423           
                                            

Non Current Assets                          

Forward rate agreements       181           

Gold put options               -           -

Total Assets                  604          -
                                     
                        Sep 30 2012 Dec 31 2011
                           $'000       $'000

Current Liabilities                         

Forward rate agreements       826          -
                                           -

Non Current Liabilities                     

Forward rate agreements        -           -
                                           -

Total Liabilities             826          -

Shareholders' Equity

A summary of the movement in shareholders' equity is set out below:
                                               
                                              Quarter Ended
                                              Sep 30, 2012
                                                  $'000

Total equity at beginning of financial period     489,252

Profit/(loss) after income tax                      (397)

Movement in other comprehensive income              9,089

Movement in contributed surplus                      423

Movement in Other Reserves                              

Issue of shares (net of costs)                       887

Total equity at end of financial period           499,254

Shareholders' equity has increased by $10.0 million to $499.3 million at 
September 30, 2012 mainly as a result of currency translation differences 
reflected in Other Comprehensive Income that arise from the translation of 
entities with a functional currency other than USD, and also resulting from a 
loss for the period.

Capital Resources

As at September 30, 2012, the share and securities summary was:

Shares outstanding                    263,260,596

Options and share rights outstanding  8,624,268

As at October 30, 2012 there was no change in shares and securities:

Shares outstanding                    263,278,752

Options and share rights outstanding  8,606,112

As at June 30, 2012, the share and securities summary was:

Shares outstanding                    262,886,876

Options and share rights outstanding  6,407,494

CRITICAL ACCOUNTING ESTIMATES AND ACCOUNTING POLICIES

The preparation of financial statements in conformity with IFRS requires 
management to make estimates and assumptions that affect the amounts reported 
in the consolidated financial statements and related notes.The accounting 
policies that involve significant management judgement and estimates are 
discussed in this section. For a list of the significant accounting 
policies, reference should be made to Note 2 of the December 31, 2011 audited 
consolidated financial statements of OceanaGold Corporation.

Exploration and Evaluation Expenditure

Exploration and evaluation expenditure is stated at cost and is accumulated in 
respect of each identifiable area of interest.

Such costs are only carried forward to the extent that they are expected to be 
recouped through the successful development of the area of interest (or 
alternatively by its sale), or where activities in the area have not yet 
reached a stage which permits a reasonable assessment of the existence or 
otherwise of economically recoverable resources, and active work is continuing.

Accumulated costs in relation to an abandoned area are written off to the 
Statement of Operations in the period in which the decision to abandon the 
area is made.

A regular review is undertaken of each area of interest to determine the 
appropriateness of continuing to carry forward costs in relation to that area 
of interest.

Mining Properties in Production or Under Development

Expenditure relating to mining properties in production and development are 
accumulated and brought to account at cost less accumulated amortisation in 
respect of each identifiable area of interest. Amortisation of capitalised 
costs, including the estimated future capital costs over the life of the area 
of interest, is provided on the production output basis, proportional to the 
depletion of the mineral resource of each area of interest expected to be 
ultimately economically recoverable.

Costs associated with the removal of overburden and other mine waste materials 
that are incurred in the production phase of mining operations are included in 
the costs of inventory in the period in which they are incurred, except when 
the charges represent a betterment to the mineral property.

Charges represent a betterment to the mineral property when the stripping 
activity provides access to reserves that will be produced in future periods 
that would not have been accessible without the stripping activity. When 
charges are deferred in relation to a betterment, the charges are amortised 
over the reserve in the betterment accessed by the stripping activity using 
the units of production method.

A regular review is undertaken of each area of interest to determine the 
appropriateness of continuing to carry forward costs in relation to that area 
of interest. Should the carrying value of expenditure not yet amortised 
exceed its estimated recoverable amount, the excess is written off to the 
Statement of Comprehensive Income.

Asset Retirement Obligations

OceanaGold recognises the fair value of future asset retirement obligations as 
a liability in the period in which it incurs a legal obligation associated 
with the retirement of long-lived assets that results from the acquisition, 
construction, development and/or normal use of the assets. OceanaGold 
concurrently recognises a corresponding increase in the carrying amount of the 
related long-lived asset that is depreciated over the life of the asset.

The key assumptions on which the fair value of the asset retirement 
obligations are based include the estimated risk-adjusted future cash 
flows, the timing of those cash flows and the risk-free rate or rates on which 
the estimated cash flows have been discounted. Subsequent to the initial 
measurement, the liability is accreted over time through periodic charges to 
earnings. The amount of the liability is subject to re-measurement at each 
reporting period if there has been a change to the key assumptions.

Asset Impairment Evaluations

The carrying values of exploration, evaluation, mining properties in 
production or under development and plant and equipment are reviewed for 
impairment when events or changes in circumstances indicate the carrying value 
may not be recoverable. If any such indication exists and where the carrying 
value exceeds the discounted future cash flows from these assets, the assets 
are written down to the fair value of the estimated future cash flows based on 
OceanaGold's discount rate for the asset.

Derivative Financial Instruments/Hedge Accounting

The consolidated entity has used derivative financial instruments to manage 
commodity price and foreign currency exposures from time to time. Derivative 
financial instruments are initially recognised in the balance sheet at fair 
value and are subsequently re- measured at their fair values at each reporting 
date.

The fair value of gold hedging instruments is calculated by discounting the 
future value of the hedge contract at the appropriate prevailing quoted market 
rates at the reporting date. The fair value of forward exchange contracts is 
calculated by reference to the current forward exchange rate for contracts 
with similar maturity profiles.

Stock Option Pricing Model

Stock options granted to employees or external parties are measured by 
reference to the fair value at grant date and are recognised as an expense in 
equal instalments over the vesting period and credited to the contributed 
surplus account. The expense is determined using an option pricing model that 
takes into account the exercise price, the term of the option, the impact of 
dilution, the non-tradable nature of the option, the current price and 
expected volatility of the underlying share, the expected dividend yield and 
the risk free interest rate for the term of the option.

Income Tax

The Group follows the liability method of income tax allocation. Under this 
method, future tax assets and liabilities are determined based on differences 
between the financial reporting and tax bases of assets and liabilities and 
are measured using the substantially enacted tax rates and laws that will be 
in effect when the differences are expected to reverse. Deferred tax assets 
including tax losses are recognised to the extent that it is probable that the 
company will generate future taxable income. Utilisation of the tax losses 
also depends on the ability of the entities to satisfy certain tests at the 
time the losses are recouped.

Foreign Currency Translation

The consolidated financial statements are expressed in United States dollars 
("USD") and have been translated to USD using the current rate method 
described below. The controlled entities of OceanaGold have either Australian 
dollars ("AUD"), New Zealand dollars ("NZD") or United States dollars ("USD") 
as their functional currency.

Foreign currency transactions are translated into the functional currency 
using the exchange rates prevailing at the dates of the transactions. 
Generally, foreign exchange gains and losses resulting from the settlement of 
foreign currency transactions and from the translation at year-end exchange 
rates of monetary assets and liabilities denominated in currencies other than 
an operation's functional currency are recognised in the statement of income.

ACCOUNTING ESTIMATES

Significant areas where management's judgment is applied include ore reserve 
and resource determinations, exploration and evaluation assets, mine 
development costs, plant and equipment lives, contingent liabilities, current 
tax provisions and future tax balances and asset retirement obligations. 
Actual results may differ from those estimates.

RISKS AND UNCERTAINTIES

This document contains some forward looking statements that involve risks, 
uncertainties and other factors that could cause actual results, performance, 
prospects and opportunities to differ materially from those expressed or 
implied by those forward looking statements. Factors that could cause actual 
results or events to differ materially from current expectations include, 
among other things: volatility and sensitivity to market prices for gold; 
replacement of reserves; possible variations of ore grade or recovery rates; 
changes in project parameters; procurement of required capital equipment and 
operating parts and supplies; equipment failures; unexpected geological 
conditions; political risks arising from operating in certain developing 
countries; inability to enforce legal rights; defects in title; imprecision in 
reserve estimates; success of future exploration and development initiatives; 
operating performance of current operations; ability to secure long term 
financing and capital, water management, environmental and safety risks; 
seismic activity, weather and other natural phenomena; failure to obtain 
necessary permits and approvals from government authorities; changes in 
government regulations and policies including tax and trade laws and policies; 
ability to maintain and further improve labour relations; general business, 
economic, competitive, political and social uncertainties and other 
development and operating risks.

For further detail and discussion of risks and uncertainties refer to the 
Annual Information Form available on the Company's website.

CHANGES IN ACCOUNTING POLICIES INCLUDING INITIAL ADOPTION

Adoption of new accounting policies

The accounting policies adopted during the quarter are consistent with those 
of the previous financial year and corresponding interim reporting period, 
except for the below new accounting policies adopted in line with the 
requirements of new transactions in the quarter.

Stock-based compensation
Performance Share Rights Plan ("PSRP")

The company has introduced a new plan which provides benefits to such 
directors and employees (participants) of the Group as designated by the Board 
of Directors, in the form of share-based compensation, whereby the 
designated participants render services and are compensated in part through 
grants of rights over shares ("equity settled transactions").

The cost of these equity-settled transactions with participants is measured by 
reference to the fair value of the compensation at the date at which they are 
granted. The fair value is determined by an external valuer using Monte Carlo 
simulation (using the Black-Scholes framework) to model the Company's future 
security price and TSR performance against the comparator group at vesting 
date.

The cost of equity-settled transactions is recognised, together with a 
corresponding increase in equity, over the period between the grant date and 
the date on which the relevant participants become fully entitled to the award 
("vesting date").

The cumulative expense recognised for equity-settled transactions at each 
reporting date until vesting date reflects:

(a) the extent to which the vesting period has expired, and

(b) the number of awards that, in the opinion of the directors of the
    consolidated entity, may ultimately vest.

No adjustment is made for the likelihood of market performance conditions 
being met as the effect of these conditions are included in the determination 
of fair value at grant date.

Interests in Jointly Controlled Operations

Where the Company's activities are conducted through an unincorporated joint 
ventures that are jointly controlled operations, its proportionate share of 
the assets, liabilities, production and related operating costs are included 
in the financial statements.

Interests in Jointly Controlled Assets

Where the Company's activities are conducted through unincorporated joint 
ventures that are jointly controlled assets, its proportionate share of the 
assets, liabilities, production and related operating costs are included in 
the financial statements.

Non-derivative financial assets
Available-for-sale financial assets

Available-for-sale assets are non-derivative financial assets that are 
designated as available for sale or are not classified as: Financial assets at 
fair value through profit or loss; Held-to-maturity financial assets; Loans 
and receivables; or Cash and cash equivalents. Available-for-sale financial 
assets are recognised initially at fair value plus any directly attributable 
transaction costs.

Subsequent to initial recognition, they are measured at fair value and changes 
therein, other than impairment losses, and foreign currency differences on 
available-for-sale debt instruments, are recognised in other comprehensive 
income and presented in the available-for-sale equity reserve (which forms 
part of other reserves). When an investment is derecognised, the cumulative 
gain or loss in equity is reclassified to profit or loss.

Accounting policies effective for future periods

IFRS 9 - "Financial instruments - classification and measurement"
This is the first part of a new standard on classification and measurement of 
financial assets that will replace IAS 39, Financial Instruments: Recognition 
and Measurement. IFRS 9 has two Measurement categories: amortised cost and 
fair value. All equity instruments are measured at fair value.

A debt instrument is at amortised cost only if the entity is holding it to 
collect contractual cash flows and the cash flows represent principal and 
interest. Otherwise it is at fair value through profit or loss. Effective for 
years beginning on/after January 1, 2015. The Group does not have any 
liabilities designated at fair value so there is no impact expected for 
reporting.

IFRS 9 - "Financial instruments - classification and measurement"
Updated to include guidance on financial liabilities and de-recognition of 
financial instruments. Effective for years beginning on/after January 1, 2015. 
The Company has not assessed the impact of this new standard.

IAS 1 - "Presentation of items of other comprehensive income ("OCI")"
Change to the disclosure in OCI, including a requirement to separate items 
presented into two groups based on whether or not they may be recycled to 
profit or loss in the future. Effective for years beginning on/after July 1, 
2012.

IAS 19 - "Employee benefits"
Amended for (i) changes to recognition and measurement of defined benefit 
pension expense and termination benefits, and (ii) expanded disclosure. 
Effective for years beginning on/after January 1, 2013. Not expected to have 
a material impact on the Company.

IFRS 13 - "Fair value measurement and disclosure requirements"
Provides a single source of guidance on how to measure fair value and enhances 
disclosure requirements for fair value measurements. Effective for years 
beginning on/after January 1, 2013.Not expected to have a material effect on 
the Company.

"New standards addressing scope of reporting entity"

IFRS 10, - "Consolidated Financial Statements",
IAS 27, - "Consolidated and Separate Financial Statements", and
SIC-12, - "Consolidation - Special Purpose Entities"
IFRS 11, - "Joint Arrangements"
Entities in joint operations will follow accounting for jointly controlled 
assets and jointly controlled operations under IAS 31.
IFRS 12, - "Disclosure of Interests in Other Entities", Effective for years 
beginning on/after January 1, 2013.
Not expected to have a material effect on the Company disclosure.

IFRIC 20 - "Stripping costs in the production phase of a surface mine"

Provides guidance on the accounting for overburden (pre-strip) in the 
production phase. Costs can only be recognised as an asset if they can be 
attributed to an identifiable component of the ore body. Effective January 1, 
2013. Not expected to have a material impact on the Company.

IFRS 7 - "Financial instruments" - disclosures
Amended to enhance disclosure requirements relating to offsetting of financial 
assets and financial liabilities. Effective for annual periods beginning 
on/after January 1, 2013. Not expected to affect the accounting of offsetting 
arrangements or have a material effect on the Company.

IAS 32 - "Financial instruments" - presentation
Amended to clarify requirements for offsetting of financial assets and 
financial liabilities. Effective for annual periods beginning on/after January 
1, 2014. Not expected to affect the treatment of offsetting arrangements or 
have a material effect on the Company.

SUMMARY OF QUARTERLY RESULTS OF OPERATIONS

The following table sets forth unaudited information for each of the eight 
quarters ended December 31, 2010 through to September 30, 2012. This 
information has been derived from our unaudited consolidated financial 
statements which, in the opinion of management, have been prepared on a basis 
consistent with the audited consolidated financial statements and include all 
adjustments, consisting only of normal recurring adjustments, necessary for 
fair presentation of our financial position and results of operations for 
those periods. On adoption to IFRS there were no material differences to the 
income statements and management believes the results are comparable as they 
were prepared on a consistent basis.
                                                                  

STATEMENT OF Sep 30 Jun 30 Mar 31  Dec 31  Sep 30  Jun 30 Mar 31 Dec 31
OPERATIONS    2012   2012   2012    2011    2011    2011   2011   2010
             $'000  $'000   $'000   $'000   $'000  $'000  $'000  $'000

Gold sales   91,153 86,719 88,558  106,603 103,455 94,805 90,746 93,777

EBITDA
(excluding
gain/(loss)
on
undesignated
hedges)      28,614 25,632 23,285  43,622  43,270  32,994 43,998 49,259

Earnings/
(loss) after
income tax
and before
gain/(loss)
on
undesignated
hedges (net
of tax)        328    735  (3,863) 14,336  10,912  4,147  14,772 20,655

Net Profit/
(Loss)       (397)    735  (3,863) 14,336  10,912  4,147  14,772 20,979

Net
earnings/
(loss) per     $
share        (0.00)
Basic          $    $0.00  $(0.01)  $0.05   $0.04  $0.02  $0.06  $0.08
Diluted      (0.00) $0.00  $(0.01)  $0.05   $0.04  $0.02  $0.06  $0.08
                                                                     

The most significant factors causing variation in the results are the 
variability in the grade of ore mined from the Macraes and Reefton Open Pit 
mines and variability of cash cost of sales due to the timing of waste 
stripping activities. The volatility of the gold price has a significant 
impact both in terms of its influence upon gold revenue and returns. Adding 
to the variation are large movements in foreign exchange rates between the USD 
and the NZD.

NON-GAAP MEASURES
Throughout this document, we have provided measures prepared according to IFRS 
("GAAP"), as well as some non-GAAP performance measures. As non-GAAP 
performance measures do not have a standardised meaning prescribed by GAAP, 
they are unlikely to be comparable to similar measures presented by other 
companies.

We provide these non-GAAP measures as they are used by some investors to 
evaluate OceanaGold's performance. Accordingly, such non-GAAP measures are 
intended to provide additional information and should not be considered in 
isolation, or a substitute for measures of performance in accordance with GAAP.

Earnings before interest, tax, depreciation and amortisation (EBITDA) is one 
such non-GAAP measure and a reconciliation of this measure to net Profit 
/(Loss) is provided on page 18.

Cash and non cash costs per ounce are other such non-GAAP measures and a 
reconciliation of these measures to cost of sales, including depreciation and 
amortisation, is provided on the next page.
                                                           


             Q3
STATEMENT OF   Sep 30     Q2          Q3          YTD         YTD
OPERATIONS      2012  Jun 30 2012 Sep 30 2011 Sep 30 2012 Sep 30 2011 
           $'000     $'000       $'000       $'000       $'000 
Cost of sales,
excluding
depreciation
and
amortisation   61,173    57,523      57,453      179,383     157,935 
Depreciation
and
amortisation   21,938    20,009      24,424      63,770      64,302 
                                                               
Total cost of
sales          83,111    77,532      81,877      243,153     222,237 
Add sundry
general &
administration   131        116         551         361       1,044 
Add non cash &
selling costs    285        144         362         621       1,101 
                                                               
Total
operating cost
of sales       83,527    77,792      82,790      244,135     224,382 
Gold Sales
from operating
mines (ounces) 54,750    53,756      60,646      160,358     186,746 
                                                               
Total
Operating Cost
($/ounce)      1,526      1,447       1,365       1,522       1,201 
Less Non-Cash
Cost and 2012
Corporate
Admin
adjustment
($/ounce)        445        418         409         445         350 
Cash Operating
Costs
($/ounce)      1,081*    1,029*         956      1,077*         851 
ADDITIONAL INFORMATION 
Additional information referring to the Company, including the Company's 
Annual Information Form, is available on SEDAR at www.sedar.com and the 
Company's website at www.oceanagold.com. 
DISCLOSURE CONTROLS AND PROCEDURES 
The Chief Executive Officer and Chief Financial Officer evaluated the 
effectiveness of the Company's disclosure controls and procedures as at June 
30, 2012. Based on that evaluation, the Chief Executive Officer and the 
Chief Financial Officer concluded that the design and operation of these 
disclosure controls and procedures were effective as at Sept 30, 2012 to 
provide reasonable assurance that material information relating to the 
Company, including its consolidated subsidiaries, would be made known to them 
by others within those entities. 
INTERNAL CONTROL OVER FINANCIAL REPORTING 
Management of OceanaGold, including the Chief Executive Officer and Chief 
Financial Officer, have evaluated the effectiveness of the design and 
operation of the Company's of the internal controls over financial reporting 
and disclosure controls and procedures as of June 30, 2012. 
Based on this evaluation, the Chief Executive Officer and Chief Financial 
Officer have concluded that they were effective at a reasonable assurance 
level. 
There were no significant changes in the Company's internal controls, or in 
other factors that could significantly affect those controls subsequent to the 
date the Chief Executive Officer and Chief Financial Officer completed their 
evaluation, nor were there any significant deficiencies or material weaknesses 
in the Company's internal controls requiring corrective actions. 
The Company's management, including the Chief Executive Officer and the Chief 
Financial Officer, does not expect that its disclosure controls and internal 
controls over financial reporting will prevent all errors and fraud. A cost 
effective system of internal controls, no matter how well conceived or 
operated, can provide only reasonable not absolute, assurance that the 
objectives of the internal controls over financial reporting are achieved 
*Refer to page 6 for further details. 
OceanaGold Corporation 
Investor Relations - Melbourne Nova Young or Darren Klinck Tel: +61(3) 9656 
5300  Investor Relations - Toronto Sam Pazuki +1 416 915 3123 
info@oceanagold.com |www.oceanagold.com 
SOURCE: OceanaGold Corporation 
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CO: OceanaGold Corporation
NI: MNG PCS ERN  
-0- Oct/30/2012 05:30 GMT
 
 
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