17 WWWNEW G O L D C O M TSXNGD NY SE Am er ic an NG D Impact of fore ign exch ang e on operation s Ne w Aftons o peratio ns a r e impacte d by fl uctuatio ns in t he val uation of the US dollar agai nst th e Can adia n dollar For the three months ended March 31 2020 the value of the US dollar averag ed 134 again s t the Can adian d o ll ar whe n com pare d to 133 again s t the Can adian d o ll ar in the priorye ar pe riod This ha d a positi v e impa ct on total ca sh cost s of 7 per gol d eq ounce sol d a gain s t the pri o rye ar pe rio d Explo r ation a c tivitie s Explo r ation a c tivitie s in the qua rter in clu ded u nde rg ro und d e line a tion d r illing o n the East E x te nsio n zone and refinem e n t of expl oration targ ets fo r the plan ned d r illing cam pai gn withi n the Che r ry Cre e k Tren d a r ea