OceanaGold closes equity raising

On October 20, 2010, OceanaGold Corporation (TSX:OGC)(ASX:OGC)(NZSE:OGC) announced that, in connection with its previously announced equity raising, the offering of Special Warrants and CHESS Depository Interests ("CDIs") had closed. OceanaGold issued 12,023,360 Special Warrants at a price of C$3.50 per Special Warrant for gross proceeds of C$42,081,760 and also issued 20,976,640 CDIs at A$3.54 (the Australian dollar equivalent of C$3.50 at the time of announcement on October 4, 2010) for gross proceeds of A$74,257,305.

On November 10, 2010, OceanaGold filed and obtained a receipt on the following day for a final short form prospectus for the purpose of qualifying the distribution of underlying common shares issuable upon exercise of the Special Warrants.

The offering was led by Macquarie Capital Markets Canada Ltd. and Citigroup Global Markets Canada Inc, as part of a syndicate of underwriters, which also included GMP Securities LP, Cormark Securities Inc, BMO Nesbitt Burns Inc, Raymond James Ltd and NCP Northland Capital Partners Inc.

OceanaGold is a significant Pacific Rim gold producer with projects located on the South Island of New Zealand and in the Philippines.

OceanaGold was advised in this transaction by Fasken Martineau with a team that included Georald Ingborg and Caroline Clapham (corporate/securities) and Frank Schober (tax).