NEW GOLD INC. TECHNICAL REPORT ON THE PEAK GOLD MINES, NEW SOUTH WALES, AUSTRALIA NI 43-101 Report Qualified Persons: Ian T. Blakley, P.Geo. Richard J. Lambert, P.Eng. March 25, 2013 RPA Inc.55 University Ave. Suite 501 I Toronto, ON, Canada M5J 2H7 I T + 1 (416) 947 0907 www.rpacan.com Report Control Form Document Title Technical Report on the Peak Gold Mines, New South Wales, Australia Client Name & Address New Gold Inc. 3110-666 Burrard Street Vancouver, British Columbia V6C 2X8 Document Reference Status Final Project # 1973 & Version 0 Issue No. Issue Date March 25 , 2013 Lead Author Ian T. Blakley (Signed) “Ian T. Blakley” Richard J. Lambert (Signed) “Richard J. Lambert” Peer Reviewer William E. Roscoe (Signed) “William E. Roscoe” Project Manager Approval William E. Roscoe (Signed) “William E. Roscoe” Project Director Approval Richard J. Lambert (Signed) “Richard J. Lambert” Report Distribution Name No. of Copies Client RPA Filing 1 (project box) Roscoe Postle Associates Inc. 55 University Avenue, Suite 501 Toronto, ON M5J 2H7 Canada Tel: +1 416 947 0907 Fax: +1 416 947 0395 [email protected] www.rpacan.com TABLE OF CONTENTS PAGE 1 SUMMARY ...................................................................................................................... 1-1 Executive Summary ....................................................................................................... 1-1 Technical Summary ....................................................................................................... 1-4 2 INTRODUCTION ............................................................................................................. 2-1 3 RELIANCE ON OTHER EXPERTS ................................................................................. 3-1 4 PROPERTY DESCRIPTION AND LOCATION ................................................................ 4-1 Land Tenure .................................................................................................................. 4-2 5 ACCESSIBILITY, CLIMATE, LOCAL RESOURCES, INFRASTRUCTURE AND PHYSIOGRAPHY ............................................................................................................... 5-1 6 HISTORY ........................................................................................................................ 6-1 7 GEOLOGICAL SETTING AND MINERALIZATION .......................................................... 7-1 Regional Geology .......................................................................................................... 7-1 Local Geology ................................................................................................................ 7-5 Property Geology ......................................................................................................... 7-14 Mineralization .............................................................................................................. 7-18 8 DEPOSIT TYPES ............................................................................................................ 8-1 9 EXPLORATION ............................................................................................................... 9-1 10 DRILLING .................................................................................................................... 10-1 11 SAMPLE PREPARATION, ANALYSES AND SECURITY ............................................ 11-1 12 DATA VERIFICATION ................................................................................................. 12-1 13 MINERAL PROCESSING AND METALLURGICAL TESTING ..................................... 13-1 14 MINERAL RESOURCE ESTIMATE ............................................................................. 14-1 Summary ..................................................................................................................... 14-1 Wireframe Domain Models........................................................................................... 14-5 Resource Database – General Description .................................................................. 14-9 Composites ................................................................................................................ 14-11 Bulk Density ............................................................................................................... 14-24 Assay Capping (Cutting) ............................................................................................ 14-25 Mineralization Continuity and Variography ................................................................. 14-26 Block Modelling .......................................................................................................... 14-58 Grade Interpolation and Classification ....................................................................... 14-61 Mineral Resource Cut-off Grade ................................................................................ 14-67 Model Validation ........................................................................................................ 14-68 Discussion ................................................................................................................. 14-72 15 MINERAL RESERVE ESTIMATE ................................................................................ 15-1 Summary ..................................................................................................................... 15-1 New Gold Inc. – Peak Gold Mines, Project 1973 Technical Report NI 43-101 – March 25, 2013 Page i www.rpacan.com Classification ............................................................................................................... 15-2 Dilution and Extraction ................................................................................................. 15-2 Reconciliation .............................................................................................................. 15-3 Cut-off Grades ............................................................................................................. 15-3 16 MINING METHODS ..................................................................................................... 16-1 Underground Mining Operations .................................................................................. 16-1 Mining Equipment ........................................................................................................ 16-8 Grade Control .............................................................................................................. 16-8 Ventilation .................................................................................................................... 16-9 Dewatering ................................................................................................................ 16-10 Open Pit Design and Considerations New Cobar ....................................................... 16-10 Mine Planning ............................................................................................................ 16-11 Mining Performance ................................................................................................... 16-11 Labour, Organization, Occupational Health and Safety and Training ......................... 16-11 17 RECOVERY METHODS .............................................................................................. 17-1 18 PROJECT INFRASTRUCTURE .................................................................................. 18-1 Tailings and Waste Facilities and Management ........................................................... 18-1 Water Supply and Management ................................................................................... 18-3 19 MARKET STUDIES AND CONTRACTS ...................................................................... 19-1 Markets ........................................................................................................................ 19-1 Contracts ..................................................................................................................... 19-2 20 ENVIRONMENTAL STUDIES, PERMITTING, AND SOCIAL OR COMMUNITY IMPACT ......................................................................................................................................... 20-1 Environmental Management and Heritage Impact ....................................................... 20-1 Closure Plan ................................................................................................................ 20-3 21 CAPITAL AND OPERATING COSTS .......................................................................... 21-1 Sustaining Capital Costs .............................................................................................. 21-1 Operating Costs ........................................................................................................... 21-1 22 ECONOMIC ANALYSIS............................................................................................... 22-1 23 ADJACENT PROPERTIES .......................................................................................... 23-1 24 OTHER RELEVANT DATA AND INFORMATION ........................................................ 24-1 25 INTERPRETATION AND CONCLUSIONS .................................................................. 25-1 26 RECOMMENDATIONS................................................................................................ 26-1 27 REFERENCES 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