13 WWWNEW G O L D C O M TSXNGD NY SE Am er ic an NG D Opera t ing re sults Produ ction The Rai n y Ri ver Mi ne com p leted a tem pora r y twoweek shutd o wn from March 20 to April 2 that allowed the local workforce to co mplete a 14day pe rio d of se lfisolation relating to travel out side of Canad a O n April 3 ope ra tions resume d and will be grad uall y ram p ing up o v e r the comi ng weeks pl e a s e refer to the Comp an y s April 3 2020 p r ess rele ase for furthe r info rmation The min e is p r imaril y utili zi ng its lo cal wo rkfo rce an d wi ll steadil y ram p up ope ratio n s o v e r the co ming wee ks as we co ntin ue to asse ss different sce nario s to safely reint r odu ce the nonlo cal workforce into the daily operation s to enha nce ou r drilling and m a intena nce capa ci ty Th e mine i s curre n tly a v e r agi n g app ro ximat e ly 10000 0 tonn es pe r da y which i s app ro ximatel y 70 of the produ ctivity a c hi eved in the first quarte r pri o r to the shutdo wn The mill fa cility is curre n tly pro c e ssi ng o r e di re ctly su pplied b y the open pit mine combi ned wi th ore from the medium g r ade stockpil e and is o perating at full capa city For the first q uarte r the mi ne repo rted g o ld eq pr o d u c tion of 5110 6 oun ce s 50 381 ou nces of gold and 61265 o u n c e s of silver includi ng 12 da ys of do wn tim e related to th e su spe n si on of operation s Duri ng the qu arter app ro xi mately 24 million ore t onn es and 93 million wa ste tonne s incl udi ng 24 million capitali ze d waste tonn es were mine d from the op en pi t at an averag e stri p ra tio of 3911 Prior to the su spe n si on o f operatio ns t he ope n pit was mini ng a n ave r ag e of ap pro x imatel y 1 40000 to nne s pe r da y i n the first qua rter Mill throug hp ut for the qua rter a v e r ag ed 18441 tonn e s pe r da y including the 1 2 days of do wn time related to the suspe n sio n of op e r ation s in th e qua rter as well as co mpletion of maintena nce proj ect s an d adju s tments related to the grindi ng circu i t early i n the quarte r Adju stment s to the grin ding circuit incl uding the commi ssi oning of the pebbl e crush e r we re re qu ired to proce ss h a rd er o r e f eed which contri buted to lowe r run rate s in Jan uary Mill produ ctivi t y achie v e d fi rst qua rter target level s of 24000 tonn e s per da y in February an d early M a rch prio r to the su spe n si on Mill availa bility for the qu arter ave r a ged 91 e xcl udi ng the 12da ys of downtime inline with plan Gold re co ve ry avera ged 9 0 for the q u a rter sli ghtly abo ve pla nne d level s Re ven ue For the three months en de d March 31 2020 revenu e dec rea s e d co mpared to the prioryea r period du e to lowe r sal e s volume s parti ally offset b y highe r gold p r ice s Re ven ue le ss cost of goo d s sol d For the three months en de d March 31 2020 re ven u e less co st of goods sol d decrea s ed wh en comp are d to the prioryear pe rio d s p r imaril y d r ive n by lo wer re ven u e s and h i gher o p e r atin g exp e n s e s Operating e x pen se s depreciatio n and depletio n total ca sh cost s allin su staining co sts and ca pital exp enditu re s Operating e x pen se s and t o tal ca sh co sts we re 1 0 60 pe r gold eq oun ce for the quart e r whi c h is an increa se from the priorye a r quarte r prim arily d ue to an increa se in operating wa ste tonne s mined as wel l as lo wer p r o d u ction a nd sa les a s a re sul t of planned lowe r grade o r e mine d and pro c e s sed