Scotiabank Latin American Mining Conference

Scotiabank Latin American
Mining Conference
June 3-4, 2013
London

Cautionary statement
All monetary amounts in U.S. dollars unless otherwise stated
Total cash costs shown net of by-product sales unless otherwise stated
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain information contained in this presentation constitutes “forward looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward
looking information under the provisions of Canadian securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the
use of forward-looking terminology such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", “projects”, “potential”, "believes" or
variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", “should”, "might" or "will be taken", "occur" or "be achieved" or the negative
connotation. Such statements and information include, without limitation, statements regarding expectations as to the anticipated timing of the mailing of the offer materials, the estimated
mineral resources and mineral reserves at Rainy River’s property, the expected further growth in gold reserves and ongoing cash flows and other benefits of the transaction containing forward-
looking information. This forward looking information is subject to numerous risks, uncertainties and assumptions, certain of which are beyond the control of Rainy River and/or New Gold,
including risks relating to acquisitions, including, without limitation, the parties may be unable to complete the acquisition or completing the acquisition may be more costly than expected
because, among other reasons, conditions to the closing of the acquisition may not be satisfied; problems may arise with the ability to successfully integrate the businesses of New Gold and
Rainy River, the parties may be unable to obtain regulatory approvals required for the acquisition, New Gold may not be able to achieve the benefits from the acquisition or it may take longer
than expected to achieve those benefits; and the acquisition may involve unexpected costs or unexpected liabilities. Other risks include the impact of general economic conditions; industry
conditions; volatility of metals prices; volatility of commodity prices; currency fluctuations; mining risks; risks associated with foreign operations; governmental and environmental regulation;
competition from other industry participants; the lack of availability of qualified personnel or management; stock market volatility; the ability of New Gold to complete or successfully integrate an
announced acquisition proposal; unexpected costs or unexpected liabilities related to the acquisition. Readers are cautioned that the material assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may prove to be imprecise. Actual results, performance or achievement could differ materially from those expressed in,
or implied by, this forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any
of them do so, what benefits that Rainy River and/or New Gold will derive therefrom. New Gold and Rainy River disclaim any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events or otherwise except as required by applicable securities laws. The issuance of New Gold shares under the transaction is
subject to TSX acceptance or approval.
CAUTIONARY NOTE TO U.S. READERS CONCERNING ESTIMATES OF MEASURED, INDICATED AND INFERRED RESOURCES
Information concerning the properties and operations discussed in this presentation has been prepared in accordance with Canadian standards under applicable Canadian securities laws, and
may not be comparable to similar information for United States companies. The terms "Mineral Resource", "Measured Mineral Resource", "Indicated Mineral Resource" and "Inferred Mineral
Resource" used in this presentation are Canadian mining terms as defined in accordance with NI 43-101 under guidelines set out in the Canadian Institute of Mining, Metallurgy and Petroleum
("CIM") Standards on Mineral Resources and Mineral Reserves adopted by the CIM Council on November 27, 2010. While the terms "Mineral Resource", "Measured Mineral Resource" and
"Indicated Mineral Resource" are recognized and required by Canadian regulations, they are not defined terms under standards of the United States Securities and Exchange Commission.
Under United States standards, mineralization may not be classified as a "reserve" unless the determination has been made that the mineralization could be economically and legally produced
or extracted at the time the reserve calculation is made. As such, certain information contained in this presentation concerning descriptions of mineralization and resources under Canadian
standards is not comparable to similar information made public by United States companies subject to the reporting and disclosure requirements of the United States Securities and Exchange
Commission. An "Inferred Mineral Resource" has a great amount of uncertainty as to its existence and as to its economic and legal feasibility. It cannot be assumed that all or any part of an
"Inferred Mineral Resource" will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic
studies. Readers are cautioned not to assume that all or any part of Measured or Indicated resources will ever be converted into Mineral Reserves. Readers are also cautioned not to assume
that all or any part of an "Inferred Mineral Resource" exists, or is economically or legally mineable. In addition, the definitions of "Proven Mineral Reserves" and "Probable Mineral Reserves"
under CIM standards differ in certain respects from the standards of the United States Securities and Exchange Commission.
2

Cautionary statement (cont’d)
U.S. SHAREHOLDERS
New Gold will be filing with the United States Securities and Exchange Commission a registration statement on Form F-10 in connection with the Offer which will include the formal offer and
take-over bid circular. New Gold encourages shareholders of Rainy River to read the formal offer and take-over bid circular which contain the full terms and conditions of the Offer and other
important information. The offer and take-over bid circular may be obtained free of charge through the Securities and Exchange Commission’s website at www.sec.gov or by directing a
request to the Investor Relations department of New Gold.
TECHNICAL INFORMATION
New Gold
The scientific and technical information, as it relates to New Gold, in this presentation has been reviewed and approved by Mark Petersen (AIPG CPG #10563), a Qualified Person under
National Instrument 43-101 and employee of New Gold.
Rainy River
The scientific and technical information, as it relates to Rainy River, in this presentation has been reviewed and approved by Garett Macdonald, P.Eng. (PEO #90475344) and Kerry Sparkes,
P.Geo. (APEGBC #25261), both Qualified Persons under National Instrument 43-101 and employees of Rainy River. Rainy River's exploration program in Richardson Township is being
supervised by Kerry Sparkes, P.Geo. (APEGBC #25261), a Qualified Person under National Instrument 43-101 and employee of Rainy River.
Rainy River Mineral Reserves
Open pit mineral reserves have been estimated using a cut-off grade of 0.30 g/t gold-equivalent, and underground reserves have been estimated using a cut-off grade of 3.5 g/t gold-
equivalent. Open pit reserves have been estimated using a dilution of 9.7% at 0.22 g/t Au and 1.31 g/t Ag, and underground reserves have been estimated using a CAF dilution of 9% at 0.61
g/t Au and 4.16 g/t Ag and LH dilution of 10% at 1.56 g/t Au and 1.28 g/t Ag. Open pit reserves have been estimated using a mine recovery of 95%, and underground reserves have been
estimated using a mine recovery of 95%. Additional details regarding the Mineral Reserve estimate and related Feasibility Study are provided in the May 23, 2013 NI 43-101 Technical Report
available on SEDAR.
Rainy River Mineral Resources
Mineral resources are not mineral reserves and do not have demonstrated economic viability. Mineral resources are reported relative to conceptual open pit shells. On average, the conceptual
open pit extends to an elevation of 500 metres below surface. Material above this elevation offers reasonable prospects for economic extraction from an open pit because drilling results
suggest that the zone of gold mineralization is broader than currently modeled and that new drilling information should positively impact future mineral resources. Material below this elevation
is potentially mineable by underground mining methods. Mineral resources that are potentially mineable by open pit methods are reported at a cut-off grade of 0.35 g/t gold; underground
mineral resources are reported at a cut-off grade of 2.5 g/t gold. All mineral resources are based on a gold price of US$1,100 per ounce, a silver price of US$22.50 per ounce, a foreign
exchange rate of 1.10 Canadian dollars to 1.0 US dollar. Metallurgical recoveries include 88% for gold in open pit resources and 90% for gold in underground resources, with a silver recovery
of 75% in both cases.
All figures are rounded to reflect the relative accuracy of the estimate. Figures may not add due to rounding. Additional details on the Mineral Resource estimate are provided in the Rainy River
news release dated October 10, 2012. Mineral Resources were estimated by SRK Consulting (Canada) Inc. (“SRK”) and are reported in accordance with Canadian Securities Administrators
National Instrument 43-101.
3

Cautionary statement (cont’d)
(1) TOTAL CASH COSTS
“Total cash costs” per ounce figures are calculated in accordance with a standard developed by The Gold Institute, which was a worldwide association of suppliers of gold and gold products
and included leading North American gold producers. The Gold Institute ceased operations in 2002, but the standard is widely accepted as the standard of reporting cash costs of production in
North America. Adoption of the standard is voluntary and the cost measures presented may not be comparable to other similarly titled measures of other companies. New Gold reports total
cash costs on a sales basis. Total cash costs include mine site operating costs such as mining, processing, administration, royalties and production taxes, but are exclusive of amortization,
reclamation, capital and exploration costs. Total cash costs are reduced by any by-product revenue and is then divided by ounces sold to arrive at the total by-product cash cost of sales. The
measure, along with sales, is considered to be a key indicator of a company’s ability to generate operating earnings and cash flow from its mining operations. This data is furnished to provide
additional information and is a non-IFRS measure. Total cash costs presented do not have a standardized meaning prescribed by IFRS and may not be comparable to similar measures
presented by other mining companies. It should not be considered in isolation as a substitute for measures of performance prepared in accordance with IFRS and is not necessarily indicative
of operating costs presented under IFRS. A reconciliation will be provided in the MD&A accompanying the quarterly financial statements.
(2) ALL-IN SUSTAINING CASH COSTS
The company is working with the World Gold Council and is in the process of adopting an “all-in sustaining cash costs” measure that the company believes more fully defines the total costs
associated with producing gold. Although the definition is still preliminary, all-in sustaining cash costs, as currently defined, includes: total cash costs(1), corporate general and administrative
expenses, exploration expense and sustaining capital. This metric is a non-IFRS measure.
(3) PEA – ADDITIONAL CAUTIONARY NOTE
This note regarding the preliminary economic assessment (“PEA”) is in addition to cautionary language already included in this presentation as required under NI 43-101. The Blackwater PEA
is preliminary in nature and includes Inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to
be categorized as mineral reserves, and there is no certainty that the PEA based on these mineral resources will be realized. Mineral resources that are not mineral reserves do not have
demonstrated economic viability. This presentation includes information on New Gold’s PEA with respect to the Blackwater Project, which was outlined in the PEA Technical Report filed on
October 10, 2012. As disclosed in the presentation, New Gold has, since the date of the PEA, completed several non-material updates of the mineral resource estimate for the Blackwater
Project. Although the PEA represents useful, accurate and reliable information based on the information available at the time of its publication, and provides an important indicator as to the
economic potential of the Blackwater Project, the PEA is based on mineral resources estimates with an effective date of July 27, 2012, which do not reflect drilling conducted since their
effective date, and the PEA does not reflect the latest mineral resource estimate discussed in subsequent presentation. Certain assumptions used in the PEA, some of which relate to the July
27, 2012 mineral resource estimate, may have changed from those used for the new resource estimate, causing a variation of parameters. Moreover, the updated mineral resource estimate
may impact how New Gold intends to develop the deposit, including pit outlines, production rates and mine life.
4

New Gold overview
5
ESTABLISHING THE LEADING INTERMEDIATE GOLD COMPANY
Focus on Value Enhancement Established Track Record
Experienced/Invested Team Low Cost/High Margin
Growing Resources Doubling Gold Production Organically
Strong Balance Sheet Accretive ‘per share’ Growth

Rainy River – A compelling acquisition opportunity
6
Modest transaction size – minimal equity dilution
Accretive on all key ‘per share’ metrics
Adds significant gold reserves and resources
Further builds on Canadian presence
Enhances production pipeline at below industry average cash costs
Further strengthens New Gold technical development team

Rainy River – Transaction overview
7
Offer
• C$3.83 per Rainy River share (including rights attached under shareholder rights plan)
• Each Rainy River shareholder will have the option to receive consideration per Rainy River share of:
- C$3.83 in cash or 0.5 of a New Gold share
- Aggregate consideration mix of ~50% cash / ~50% shares subject to
- Maximum cash consideration of approximately C$198 million
- Maximum number of New Gold shares issuable under the offer of approximately 25.8 million (Rainy River
proforma ownership of 5.1%)
Premium
• Offer represents a premium of:
- 42% to closing price on the Toronto Stock Exchange on May 30, 2013
- 67% premium to the 20-day volume weighted average trading price
Key Conditions
• Minimum 662/3% of Rainy River shareholders to validly deposit their shares under the bid
• Typical regulatory approvals
Structure • Friendly combination via formal take-over bid
Other Terms
• Unanimous New Gold and Rainy River Board approval
• Non-solicitation provision and 5 business day right to match Superior Proposal
• Lock-up agreements signed by Rainy River’s management and Board
• Termination fee of ~C$14 million (~3.5% of transaction equity value) payable to New Gold under certain circumstances
• Seek lockups from significant institutional shareholders
Indicative timeline
• Bid circular mailed to Rainy River shareholders: Week of June 10, 2013
• Initial expiry time: Mid-July 2013

Rainy River – Location
8
Project Location
Kenora
Fort Frances
Thunder Bay
Rainy River Gold Project
• Mining friendly Northwestern
Ontario
• 65km northwest of Fort Frances
• 80km south of Kenora
• Within 25km of rail and power
• Local skilled labour force

Rainy River – Mineral reserves and resources
9
Mineral Resource Summary(1) Exploration Potential
Notes: 1. Refer to Cautionary Statement regarding Rainy River Mineral Resources.
2. Measured and Indicated resources inclusive of Reserves.
• Relatively underexplored region of
Northwestern Ontario
• Current resource situated on a trend
measuring 6 kilometres along strike
• Near-term exploration upside at newly
discovered Intrepid Zone
• Located approximately 2 kilometres
east of current pit and open at depth
• Zone hosts multiple high grade shoots
• Potential for underground development
Tonnes
(Mt)
Au
(g/t)
Ag
(g/t)
Au
(Koz)
Ag
(Koz)
Proven 27.7 1.14 1.94 1,015 1,728
Probable 88.6 1.06 3.01 3,017 8,587
Total Reserves 116.3 1.08 2.76 4,032 10,315
Measured 27.6 1.33 1.90 1,182 1,689
Indicated 130.9 1.18 2.77 4,985 11,649
Total M&I(2)
158.5 1.21 2.62 6,167 13,338
Inferred 93.8 0.76 2.32 2,280 6,983
Rainy River Mineral Reserve and Resource Estimate
Contained metalMetal grade

0.0x
0.3x
0.6x
0.9x
1.2x
May-11 Sep-11 Jan-12 May-12 Sep-12 Jan-13 May-13
May 30:
0.35x
Bid ratio:
0.50x
Opportune time to transact
10
Trailing 24 months
High: 1.12x
Low: 0.27x
Historical Exchange Ratio
At Offer
Notes: 1. Based on pricing as at May 30, 2013.
Relative exchange ratio

Canada
US
Chile
Mexico
Australia
New Gold Pro Forma
Adding gold reserves/resources in Canada
11
Gold Reserves (Moz)
Gold M&I Resources (Moz)(1)(2)
7.8
11.8
29.2
+44%
per share
+20%
per share
New Gold Pro Forma Gold M&I Resources (Moz)(1)
Canada +62%
23.1
18.0
5.7
2.9
1.7
0.9
New Gold Pro Forma
Notes: 1. Refer to Cautionary Statement. Pro forma resources shown assuming completion of Rainy River acquisition.
2. Refer to New Gold website for detailed disclosure on reserve and resource calculations. Measured and Indicated resources inclusive of reserves, and Capoose Indicated resources of 196Koz.
M&I Resources(1)(2): 29.2 Moz

Management and Board of Directors
12
Collectively over $100 million
invested in New Gold
EXECUTIVE MANAGEMENT TEAM BOARD OF DIRECTORS
Randall Oliphant, Executive Chairman
Robert Gallagher, President & CEO
Brian Penny, Executive VP & CFO
James Estey, Former Chairman UBS Securities Canada
Robert Gallagher, President & CEO
Vahan Kololian, Founder Terra Nova Partners
Martyn Konig, Former Executive Chairman European Goldfields
Pierre Lassonde, Chairman Franco-Nevada
Randall Oliphant, Executive Chairman
Raymond Threlkeld, CEO Rainy River Resources
David Emerson, Former Canadian Cabinet Minister
Ernie Mast, VP Operations

Operational execution
13
$465
$418
$446
$421
302
383 387
412
Notes: 1. Refer to Cautionary Statement and note on Total cash costs.
2. 2009 costs shown based on Canadian GAAP and 2010 and beyond based on IFRS.
Gold production(1) (thousand ounces)
Total cash costs(1)(2) ($/ounce)
2009
Guidance
2009
Actual
2010
Guidance
2010
Actual
2011
Guidance
2011
Actual
2012
Guidance
Four year track record of delivering on guidance, production growth and lower cash costs
2012
Actual
2009
Guidance
2009
Actual
2010
Guidance
2010
Actual
2011
Guidance
2011
Actual
2012
Guidance
2012
Actual

2013 consolidated guidance
14
2012 Actual
Gold production(1)
440 - 480Koz
Total cash costs(2)
$265 - $285/oz
Notes: 1. Gold sales expected to be in same range as production.
2. Refer to Cautionary Statement and note on Total cash costs.
Gold production
412Koz
Total cash costs(2)
$421/oz
2013 Guidance
+48Koz
+ 12%
($146/oz)
(35%)

2012 actuals versus 2013 guidance
15
2. By-product price assumptions: Silver - $30.00/oz; Copper - $3.50/lb.
3. New Afton co-product cost estimates: Gold - $570-$590/oz; Copper - $1.20-$1.30/lb.
Gold Production
(Koz)
Total Cash Costs(1)(2)
($/oz)
Silver Production
(Moz)
Copper Production
(Mlbs)
Mesquite
Cerro San
Pedro
Peak Mines
New Afton
Total
2012A 2013E
142 130-140
138 140-150
96 95-105
37 75-85
412 440-480
2012A 2013E
-- --
1.9 1.4-1.6
-- --
-- --
1.9 1.4-1.6
2012A 2013E
-- --
-- --
14 12-14
28 66-74
42 78-88
2012A 2013E
$690 $830-$850
$232 $375-$395
$764 $670-$690
($1,043)
($1,410)-
($1,390)(3)
$421 $265-$285

$465
$418
$446
$421
$265-$285
$478
$557
$643
$738
2009 2010 2011 2012 2013E
Lower costs driving margin expansion
16
Notes: 1. Calculated based on YE’2012 GFMS industry average less mid-point of New Gold 2013 cost guidance.
3. Industry data per GFMS reports calculated net of by-product credits as at YE’2012.
$600
$400
$200
TotalCashCosts(US$/oz)(2)
New Gold offers shareholders potential for over $450 per ounce(1) of incremental margin
$800
Incremental Margin to New Gold
Shareholders
(3)

2013 estimated all-in sustaining cash costs
17
Total cash costs(1)
General and administrative
Exploration expense
Sustaining capital(2)
All-in sustaining cash costs(3)
$275/oz
~$60/oz
~$70/oz
~$470/oz
~$875/oz
Notes: 1. Refer to Cautionary Statement and note on Total cash costs. $275 per ounce based on mid-point of 2013 guidance.
2. Sustaining capital based on New Gold’s total 2013 estimated capital expenditures excluding expenditures related to growth-related initiatives.
3. All-in sustaining cash costs calculated using the mid-point of New Gold’s estimated 2013 production range.

New Afton – Successfully commissioned
18
Highlights
• Located 10 kilometres from Kamloops, British
Columbia
• Dedicated labour force
• Commercial and full production achieved
ahead of schedule
• Exploration extended mine life by two years to
14 years
• Further potential in C-Zone below reserve
block
• Potential to double New Gold’s cash flow at
today’s prices
Notes: 1. Refer to Appendix 7 for detailed disclosure on Reserve and Resource calculations.
1.1 Moz
Gold Reserve(1)
1.1 Blbs
Copper Reserve(1)

New Afton – Multiple avenues to unlocking value
19
• May 2013 update increased resources by over
300%
• Included drilling through end of February
2013
• C-Zone remains open down plunge
• Three drills currently active
Mill Throughput IncreaseC-Zone Resource
• Nameplate capacity of 11,000 tonnes per day
(“tpd”)
• 50 drawbells needed to support 11,000 tpd –
target 65 by mid-year
• Crusher capacity – 20,000 tpd
• Commissioned January 2013
• Conveyor capacity ~14,500 tpd
• Record daily mill throughput – 13,840 tonnes
Growing C-Zone Resource base and evaluating increased mill throughput
Gold
Measured and Indicated Resources
Copper
0.3Moz at 0.77g/t 211Mlbs at 0.77%
Gold
Inferred Resources
Copper
0.4Moz at 0.62g/t 301Mlbs at 0.68%

EA-31 644 708 64 0.86 1.33
EA-32 478 622 144 0.92 1.10
EA-33 638 658 20 0.55 0.86
EA-34 744 810 66 0.90 0.93
EA-35 272 312 42 1.17 0.10
EA-36 592 678 44 2.32 2.61
New Afton C-Zone exploration program
20
Highlights Post C-Zone Update
Interval (m)Drill Hole Gold (g/t) Copper (%)
EA-9
C-Zone
B-Zone
Reserve
C-Zone
4,900m
4,900m
Far East Extension /
Hanging Wall Lens Targets
Drilled
Planned
EA-31
EA-32
EA-34
*
EA-36
EA-35
*
EA-37*
EA-33
From (m) To (m)

El Morro (30%)
21
• Goldcorp – 70% partner and project operator
• New Gold’s 30% share of capital fully-funded by
Goldcorp
• Current resource entirely within La Fortuna deposit
• Neighbouring El Morro deposit underexplored
• 2012 year end update added 0.4 million ounces of
gold and 229 million pounds of copper to reserves(1)
• Addressing recent temporary suspension of
environmental permit
• Resolution targeted prior to end of 2013
• Chile evaluating various alternatives for a power
source to northern Chilean development projects
2.1 Blbs
Copper Reserve(1)
2.9 Moz
Gold Reserve(1)
Notes: 1. New Gold’s attributable 30% share. Refer to appendix 7 for detailed disclosure on reserve and resource calculations.
2. Refer to Cautionary Statements.
3. Refer to Cautionary Statements and note on Total cash cost. Life of mine co-product costs estimated at $550/oz gold and $1.45/lb copper at commodity price assumptions of $1,200/oz gold and $2.75/lb
copper.
Location Chile
Mine type Open Pit
Reserves1 – Gold/Copper (Moz/Mlbs) 2.9/2,097
Resources1 – Gold/Copper (Moz/Mlbs) 2.9/2,097
Estimate mine life 17 years
LOM production/yr (Au koz/Cu Mlbs)2 90/85
LOM cash cost/oz by-product3 ($700)

Blackwater – A robust project
22
Measured and Indicated
Gold Resources(1) – Direct Processing
Material
8.6 Moz
• Central British Columbia near infrastructure
• Year-round accessibility for drilling/
development
• Total 2012 drilling over 270,000 metres project
wide
• Ability to fund continued exploration/
development internally
• Tax synergies with New Afton
• PEA completed September 2012
• Targeting annual gold production of
~500,000 ounces
• Targeting completion of Feasibility Study by
late 2013
• Targeting production in 2017
• Consolidated significant land position –
1,000km2
Notes: 1. Refer to appendix 7 for detailed disclosure on Reserve and Resource calculations.
2. Blackwater start date based on indicative timeline which is dependent on permit approvals and the determination that the deposit is economically viable.
• Additional Measured and Indicated gold
resources – stockpile material of 0.9
million ounces

Blackwater – Indicative timeline
23
Notes: 1. Indicative timeline is dependent on permit approvals. There is no assurance this timeline will be achieved nor that the deposit will ever reach the production stage.
Development activity
First Nations & Public Consultation
Preliminary Economic Assessment
Base Line Environmental Studies
Feasibility Study
Engineering Procurement
Production Target
Drilling
Project Description/Terms of Reference
Environmental Assessment Reports
Provincial Approval
Federal Approval
Construction
H1 H2 H1 H2 H1 H2H1 H2 H1 H2 H1 H2
2012 2013 2014 2015 2016 2017
Reflects critical path in timeline

Blackwater – Area map
24
~160km to
Prince George
~112km to
Vanderhoof
Blackwater
Project
50km
80km
Capoose
Resource
Blackwater
Resource

Blackwater – 2013 exploration objectives
25
>1000 ppb Au
500-1000 ppb Au
250-500 ppb Au
50-250 ppb Au
Blackwater
Auro
Fawnie
Van Tine
Capoose
• Blackwater: Explore for satellite deposits and test
potential extensions to known resource
• Capoose: Expand and upgrade resource with special
focus on potential to extend gold-rich zones
• Regional targets: Identify specific drill targets and
complete first pass reconnaissance drilling
Plan for four to six drills to be active during primary field season
10 km

0%
100%
200%
300%
400%
500%
600%
700%
800%
900%
4-Mar-09
5-Aug-09
6-Jan-10
9-Jun-10
10-Nov-10
13-Apr-11
14-Sep-11
15-Feb-12
18-Jul-12
19-Dec-12
22-May-13
NGD Gold Price
S&P/TSX Gold Index FTSE Gold Mines Index
HUI Index
Announced $1.2bn
business
combination with
Western Goldfields
30-May-13
Net asset value and relative performance
26
Source: Broker Reports, Company Estimates and Announcements, Bloomberg, all amounts in USD.
Notes: 1. Street consensus NAV.
2. Current street consensus NAV for El Morro; Includes $50 million cash payment received from Goldcorp as part of transaction consideration.
3. New Gold purchased Richfield and Silver Quest with the deals closing on June 1, 2011 and December 23, 2011, respectively.
4. S&P/TSX Gold Index includes 54 gold companies in various stages of development/production.
5. FTSE Gold Mines Index includes 26 gold producing companies.
6. HUI Index includes 15 of the major global gold producers.
3/4/09 Today
Mesquite, Cerro San Pedro, Peak Mines
New Afton
El Morro(2)
~ $875 $1,410
~ $120 $1,664
~ $40 $624
Net Asset Value(1)
Blackwater(3)
$-- $1,342
+384%
(20%)
(30%)
+56%
3%

2013 catalysts
27
2013 guidance – increased resources, production growth and lower costs
New Afton C-Zone exploration update
Blackwater regional exploration updates
Completion of Blackwater Feasibility Study
New Afton mill to reach 12,000 tonnes per day
Results of New Afton throughput increase evaluation
Resolution of El Morro temporary permit suspension
Blackwater resource update
Completion of Rainy River acquisition

28
EXPERIENCED BOARD AND MANAGEMENT
FULLY FUNDED COMPANY WITH STRONG BALANCE SHEET
DIVERSIFIED ASSET BASE IN MINING FRIENDLY JURISDICTIONS
ORGANIC GROWTH OPPORTUNITIES/METAL OPTIONALITY
PRODUCTION GROWTH/MARGIN EXPANSION
INCREASING UNDERLYING ASSET VALUE
MULTIPLE CATALYSTS
COMPELLING INVESTMENT PROPOSITION
The New Gold investment thesis

Appendix
29
Appendices
Page
1. Financial information 30
2. Consolidated operating performance 36
3. Mesquite, Cerro San Pedro, Peak Mines 41
4. New Afton 45
5. El Morro 49
6. Blackwater 55
7. Reserves and resource notes 60
8. Commodity price/foreign exchange assumptions 67

Appendix 1
Capitalization and liquidity
30
Notes: 1. Cash and equivalents as at March 31, 2013.
2. $50 million of total $150 million currently used for Letters of Credit.
3. See Appendix 1 – Summary of debt for detailed breakdown of components of debt.
• All corporate debt now due in 2020 or
beyond(3)
• Two senior unsecured notes offerings
during 2012 ($300 million/7.00%, $500
million/6.25%)
• Redemption of 10% senior secured
notes
• Early conversion of 5% convertible
debenture
• Total common shares outstanding of 477
million
• Paid $66 million to eliminate legacy gold
hedges on May 15, 2013
• Net cash of ~$113 million to be used as
part of Rainy River consideration
Liquidity
Position
$672mm
$100mm
$772mm
Cash and
Equivalents(1)
Undrawn Credit
Facility(2)

Appendix 1
Summary of debt
31
Undrawn Credit
Facility
Senior Unsecured Notes
(April 2012)
Senior Unsecured Notes
(November 2012)
El Morro
Funding Loan
Face Value $150 million(1) $300 million $500 million $71 million
Maturity 1 year with annual
extensions permitted
April 15, 2020 November 15, 2022 n/a
Interest Rate See ‘Key features’ 7.00% 6.25% 4.58%
Payable Revolving credit Semi-annually Semi-annually Upon start of
production
Conversion price n/a n/a n/a n/a
Current trading
value
n/a ~107 ~104 n/a
Key features Normal financial
covenants
Interest Rate
• 3.00-4.25% over
LIBOR based on
ratios
• Standby fee of
0.75-1.06%
• Senior unsecured
• Redeemable after April
15, 2016 at 103.5%
down to 100% of face
after 2018
• Unlimited dividends if
leverage ratio below 2:1
• Senior unsecured
• Redeemable after
November 15, 2017 at
par plus half coupon,
declining ratably to par
• Unlimited dividends if
leverage ratio below 2:1
New Gold to
repay Goldcorp
out of 80% of its
30% share of
cash flow once El
Morro starts
production
Notes: 1. $50 million currently allocated for Letters of Credit.

Appendix 1
2012 and 2013 capital expenditures by site
32
• New Gold’s 2013 estimated capital expenditures of $290 million are down 42% from 2012
• Capital includes costs related to ongoing annual sustaining capital as well as investments for future
production
• Capital estimates by site are shown below:
Total 2013 Capital Expenditure Estimate: $290 million
New Afton
$110mm
Peak Mines
$60mm
Cerro San
Pedro
$40mm
Mesquite
$20mm
Blackwater
$60mm
Total 2012 Actual Capital Expenditures: $499 million
New Afton
$302mm
Peak Mines
$47mm
Cerro San Pedro
$11mm
Mesquite
$11mm
Blackwater
$128mm

Appendix 1
2013 capital expenditures by category
33
Direct investment for future production
• The below breaks down capital expenditures at each site into two categories – annual sustaining capital
and direct investments for future production growth and mine life extension
New Afton - $110 million
Blackwater - $60 million
Peak Mines - $60 million
Annual sustaining capital
82%
18%
100%
50% 50%
• $90 million – continued cave and drawbell development as well as related
technical services
• Total of ~90 drawbells expected to be completed by end of 2013
• Annual drawbell development to decrease over mine life with commensurate
decrease in capital
• $15 million – capitalized exploration
• $45 million – Feasibility and related engineering studies, permitting, camp
facilities/operation
• $30 million – underground development and capitalized exploration
• $30 million – equipment, mine and mill projects/maintenance

Appendix 1
2013 capital expenditures by category (cont’d)
34
Direct investment for future production
Cerro San Pedro - $40 million
Mesquite - $20 million
Annual sustaining capital
75%
25%
60%
40%
• $30 million – final leach pad expansion and capitalized stripping for phase 5
development
• $10 million – site maintenance/processing improvements
• $12 million – two additional trucks and construction of new welding and tire shops
• $8 million – equipment components/site maintenance
New Gold’s 30% share of estimated El Morro capital cost of $23 million fully carried by
Goldcorp Inc.

Appendix 1
2013 exploration program overview
35
• New Gold’s estimated exploration budget for 2013 is $50 million
• Capitalized: $20 million
• Expensed: $30 million
New Afton
40,000 metres
Peak Mines
33,000 metres Blackwater
40,000 metres
Capitalized: $15 million
Expensed: $15 million
Capitalized: $5 million

Appendix 2
Operational and financial highlights
36
2013 2012
Q1 Q1
Gold production
(000s ounces)
Total cash cost
(1)
($/oz)
Earnings from mine operations
($ millions)
Net earnings
($ millions)
Net earnings per share
($/share)
Adjusted net earnings
($ millions)
Adjusted net earnings per share
($/share)
Net cash generated from operations
($ millions)
$0.07
$59
95
$485
$58
$21
$0.04
$36
$0.08
99
$543
$78
$44
$34
$0.10
$37
Note: 1. Refer to Cautionary Statement and note on Total cash cost.

Appendix 2
2013 first quarter operating results
37
2013 First Quarter
Gold sales
(000s ounces)
Cash cost(1)
($/oz)
($770)16
$49527
$87926
$48595
New Afton
Mesquite
Cerro San Pedro
Earning from
Mine Operations
($mm)
$18
$23
$3
$58
$81927Peak Mines $14

$566
$465
$428 $446 $421
$297
$522
$766
$1,014
$1,130
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
2008A 2009A 2010A 2011A 2012A
Appendix 2
Trend of expanding margins continues
38
Realized gold price
(US$/oz)
$863
Cash Cost(1)
(US$/oz)
Margin
(US$/oz)
$987
$1,194
$1,460
US$/oz
$1,551

Appendix 2
2013 guidance
39
• Gold production growth through full year of
production at New Afton and increased
throughput and recoveries at Peak Mines
• Copper production forecast to double to 78 to 88
million pounds
• Copper and silver by-products continue to act as
natural hedge to industry-wide cost pressures
• By-product price assumptions (consistent with
2012):
• Copper $3.50 per pound
• Silver $30.00 per ounce
Gold production(1)
440 - 480Koz
Total cash costs(2)
$265 - $285/oz
Notes: 1. Gold sales range forecast to be 440,000 to 480,000 ounces.
• By-product sensitivities:
• $0.25 per pound change in copper impacts
consolidated cash costs by ~$45 per ounce
• $1.00 per ounce change in silver impacts
consolidated cash costs by ~$3 per ounce

Appendix 2
Detailed operating results/assumptions
40
Notes: 1. Mesquite life-of-mine recovery continues to track at ~75% for oxides; ~35% for sulphides.
2. Cerro San Pedro life-of-mine recovery: Gold – ~60%; Silver – ~25%.
2012A 2013E 2012A 2013E 2012A 2013E 2012A 2013E
Tonnes processed (000 tonnes) 14,503 14,250-14,750 16,531 12,250-12,750 778 815-835 1,970 4,000-4,200
Tonnes mined (000 tonnes) 45,666 46,000-48,000 30,905 36,000-38,000 786 1,310-1,330 903 4,300-4,500
Gold grade (g/t) 0.46 0.41-0.45 0.47 0.58-0.63 4.18 4.1-4.3 0.73 0.67-0.71
Silver grade (g/t) -- -- 21.43 13.0-17.0 -- -- -- --
Copper grade (%) -- -- -- -- 0.97% 0.80-0.84% 0.78% 0.86-0.90%
Gold recovery (%) (1) (1) (2) (2) 91.3% 90.0-92.0% 78.8% 88.0-90.0%
Silver recovery (%) -- -- (2) (2) -- -- -- --
Copper recovery (%) -- -- -- -- 86.0% 89.0-91.0% 84.5% 88.0-90.0%
Capital expenditures ($mm) $11 $20 $11 $40 $47 $60 $302 $110
Reserve grade
Gold grade (g/t) 0.57 0.50 4.99 0.65
Silver grade (g/t) -- 17.3 7.3 2.3
Copper grade (%) -- -- 1.13% 0.93%
Mesquite Cerro San Pedro Peak Mines New Afton

Appendix 3
Mesquite
41
$690
2012A 2013E
142
2012A 2013E
Key assumptions and sensitivities
• Diesel comprises ~25% of Mesquite’s total costs
• Rack diesel price most correlated to Brent oil price
• Budgeted diesel price in 2013 8% higher than
2012 average price paid
• Every 10% change in diesel price has ~$20 per
ounce impact on costs
2012A versus 2013E
• Production expected to decline moderately
due to the planned processing of ore from an
area within the mine plan that is below
reserve grade
• Increase in costs attributable to higher cost
leach pad inventory working through sales
and lower production base
Notes: 1. Mesquite life-of-mine recovery continues to track at ~75% for oxides; ~35% for sulphides.
Gold Production(1) (Koz) Total Cash Costs(2) ($/oz)
140
130
$850
$830

Appendix 3
Cerro San Pedro
42
$232
2012A 2013E
1.9
2012A 2013E
138
2012A 2013E
• Silver price - $30.00 per ounce (2012A - $30.78 per
ounce)
• Mexican Peso: U.S. foreign exchange – 13:1
• $1.00 per ounce change in silver equals ~$10 per
ounce change in Cerro San Pedro cash costs
• $1.00 change in Mexican Peso equals ~$25 per
ounce change in Cerro San Pedro cash costs
2012A versus 2013E
• Targeting 5% increase in gold production
• Decrease in tonnes processed offset by
increase in gold grade
• Increase in costs primarily driven by lower silver
by-product production as well as lower price
assumption
• ~$95 per ounce of increase in costs
attributable to lower silver by-product revenue
• Silver grades decreasing by ~25%
Notes: 1. Cerro San Pedro life-of-mine recovery continues to track at: Gold – ~60%; Silver – ~25%.
Gold Production(1) (Koz) Total Cash Costs(2) ($/oz)Silver Production(1) (Moz)
150
140
1.6
1.4
$395
$375

Appendix 3
Peak Mines
43
$764
2012A 2013E
96
2012A 2013E
14
2012A 2013E
• Copper price - $3.50 per pound (2012A - $3.51per
pound)
• Australian dollar: U.S. foreign exchange – 1:1
• $0.25 per pound change in copper equals ~$35 per
ounce change in Peak Mines cash costs
• $0.01 change in Australian dollar equals ~$10 per
ounce change in Peak Mines cash costs
2012A versus 2013E
• Increased gold production driven by 50,000
tonne increase in tonnes processed
• Similar copper production a result of increased
tonnes processed and copper recoveries offset
by lower copper grades
• Reduction in estimated cash costs a result of
increased gold production and lower foreign
exchange rate assumption versus average 2012
exchange rate
Gold Production (Koz) Total Cash Costs(1) ($/oz)Copper Production (Mlbs)
105
95
14
12
$690
$670

Appendix 3
Peak corridor map
44
Great Cobar
~9 kilometres

Appendix 4
New Afton
45
28
2012A 2013E
37
2012A 2013E
2012A versus 2013E
• New Afton entering first full year of production in 2013 after successful 2012 start-up
• Increased gold production driven by a full year of operations as well as continued recovery improvements,
partially offset by lower gold grade
• Copper production expected to more than double, driven by full year of production as well as increases in
copper grades and recoveries
85
75
74
66
Gold Production (Koz) Copper Production (Mlbs)

Appendix 4
New Afton (cont’d)
46
$656
2012A 2013E
($1,043)
2012A 2013E
$1.40
2012A 2013E
• Copper price - $3.50 per pound (2012A - $3.58 per pound)
• Canadian dollar: U.S. foreign exchange – 1:1
• $0.25 per pound change in copper equals ~$220 per ounce change in New Afton by-product cash costs
• $0.01 change in Canadian dollar equals ~$15 per ounce change in New Afton by-product cash costs
Total Cash Costs(1) ($/oz)
(By-Product)
(Co-Product Copper)
(Co-Product Gold)
($1,390)
($1,410)
$590
$570
$1.30
$1.20

Appendix 4
New Afton drawbell development and ore columns
47
54 drawbells
in production
at end of 2012
East Cave
production to begin
mid-year
Central Cave
to be activated
later in mine lifeFinal 11 drawbells
in West Cave
Accelerating East Cave
development for added
flexibility/more ore sources
Height of Draw
Planned development
in 2013
Copper resource grades

Appendix 4
Mill capacity
48
• Record daily throughput of 13,840 tonnes
• 12,250 tonnes per day sustained in October 2012 with
no significant optimization efforts
• Key considerations for increased mill throughput include:
• SAG Mill: Flexibility to optimize mill power and burden
level for finest possible product size distribution over a
wide range of ore conditions
• Ball Mill: Optimize SAG screen deck and hydrocyclone
cluster configurations for SAG/Ball Mill circuit balance;
optimal Ball Mill feed size and classification efficiency
• Flotation: Capacity is adequate for substantial increase
in throughput
• Concentrate Filtration: Existing capacity for incremental
production increase; ample space for installation of third
filter
• Tailings Pumping Capacity: Three stage variable speed
pumps currently running well below maximum
capacities

Appendix 5
El Morro overview of updated Feasibility Study
49
• El Morro Feasibility Study was updated in December 2011
• Key parameters for New Gold include:
• 30% share of estimated development capital, or $1.2 billion, carried by Goldcorp
– Receive cash flow from start of production
– Interest rate fixed at 4.58%
• Base 17-year mine life
• 30% share of annual production: ~90,000 ounces of gold and ~85 million pounds of copper
• Estimated total cash costs(1), net of by-products ($700) per ounce
– Co-product gold ~$550 per ounce
– Co-product copper ~$1.45 per pound

Appendix 5
El Morro project – Plan view
50

Appendix 5
La Fortuna deposit
51
2012 open pit Proven and
Probable reserves and Measured
and Indicated resources
Underground Inferred
resource with block
cave potential
500 metres

Appendix 5
El Morro (30%) – Funding structure(1)
52
• New Gold’s 30% share of development capital 100% carried
• Interest fixed at 4.58%
Notes: 1. Capital estimates based on December 2011 Feasibility Study.
Total Capital
100%
~ $3.9 billion
100%
Average annual
cash flow
70%30%
70%
~ $2.7 billion
Funded by
$1.2 billion
interest at 4.58%
30%
80%20%
Carried funding repayment

Au Grade
(g/t)
Cu Grade
(%)
$91/t
$44/t
$41/t
$27/t
$53/t
$52/t
$42/t
$33/t
$31/t
$30/t
--
0.10
0.20
0.30
0.40
0.50
0.60
0.70
0.80
0.20% 0.40% 0.60% 0.80% 1.00% 1.20%
Appendix 5
Selected porphyry gold/copper deposits/mines(1)
53
Source: Company disclosure.
Notes: 1. Circle sizes are representative of contained metal value of the reserves per tonne of reserve. Contained metal value calculated using Street research consensus long-term commodity pricing.
2. Includes “Cadia East Underground” and “Ridgeway Underground” reserves as indicated in Newcrest’s February 8, 2013 press release; does not include “Other” Cadia province reserves.
El Morro
Producing Development
Chapada
Cadia-Ridgeway
Alumbrera
New Afton
New Prosperity
Cobre Panama
Mt. Milligan
Cerro Casale
El Morro
Agua Rica
(2)
New Afton

Appendix 5
El Morro relative positioning(1)
54
Asset
Gold Reserves
(Moz)
Asset Gold Equivalent
(2)
(Moz)
Penasquito 15.7 Penasquito 43.9
Pueblo Viejo 10.0 El Morro 17.4
Los Filos 7.4 Pueblo Viejo 11.7
El Morro 6.7 Los Filos 8.4
Cerro Negro 5.7 Cerro Negro 6.7
Notes: 1. Based on Goldcorp’s December 31, 2012 year-end resource statements.
2. Gold equivalent calculated based on the following commodity prices: Gold - $1,600/oz; Silver - $30.00/oz; Copper - $3.50/lb; Lead - $0.90/lb; Zinc - $0.90/lb.
El Morro within Goldcorp portfolio

Appendix 6
Blackwater – Project overview
55
• Start of production in 2017
• Conventional truck and shovel open pit mine with 60,000 tonnes per day processing plant
• Life-of-mine strip ratio of ~2.4 to 1
• Low grade stockpiling strategy
• Simple, conventional flowsheet using whole ore leach process
• Life-of-mine gold and silver recoveries of 87% and 53%, respectively
• Conventional waste rock and Tailings Storage Facility
• Power supply from the hydroelectric power grid, via 133 kilometre transmission line
• Minimal off-site infrastructure required
• Good existing access road; water supply within 15 kilometres
• Low environmental risk and facility designed for closure

Appendix 6
Blackwater PEA costs – Capital
56
Project Development Capital Costs
Description Cost ($ million)
Direct Costs
Mining & Pre-production Development $208
On Site Infrastructure $181
Process $539
Tailing and Water Reclaim $74
Infrastructure (Power, Water, Road) $85
Total Direct Costs $1,087
Owner's and Indirect Costs
Owner's Costs $54
EPCM $112
Other Indirects $215
Total Owner's and Indirect Costs $381
Subtotal $1,468
Contingency (24%) $346
Total Project $1,814
• Project is located 112 kilometres southwest
from Vanderhoof and has access to low cost
hydroelectric power
• Development capital estimate of $1.8 billion is
inclusive of a 24% or $346 million
contingency
• Development capital estimated based on the
current cost environment
• A parity foreign exchange rate was assumed
and the capital estimate was held constant in
the economic analysis
• Sustaining capital of $537 million, reclamation
and closure costs of $95 million and $72 million
in equipment salvage value
Total development and sustaining
capital estimated at $294 per
recoverable gold ounce

Appendix 6
Blackwater PEA costs – Operating
57
Project Operating Costs
Area Unit Cost (C$/t milled) $ per gold ounce produced
Mining $6.21 $259
Processing $7.59 $317
General and Administrative $0.95 $40
Royalty (0.6%) $0.18 $8
Refining $0.23 $9
Silver by-product sales at $22.50 per ounce silver ($2.16) ($90)
Total cash costs(1)
net of by-product sales $13.01 $543
44%
24%
17%
8%
6%
1% Reagents
Grinding
Media/liners
Electricity
Labour
Maint materials
Water Supply
59%
11%
9%
6%
4%
4% 4%2%
Hauling
Auxiliary
Blasting
G&A
Drilling
Loading
General Maint.
General Mine
Processing Costs
Mining Costs
Blackwater’s location near infrastructure, low stripping ratio, access to low cost power and silver
by-product revenue expected to result in the Project having well below industry average cash costs
Note: 1. Refer to Cautionary Statement and note on Total cash costs and PEA additional cautionary note.

Appendix 6
Project planning, management and execution initiative
58
New Gold has engaged McKinsey & Company to collaborate with Blackwater team on
establishing a Project Implementation Plan
• Key objective is to maximize effectiveness of project planning to ensure delivery and
execution of Blackwater is consistent with New Gold’s prior developments including:
Mesquite, Cerro San Pedro and New Afton
Areas of focus include:
• Delivery model selection
• Project team organization
• Reporting metrics and management processes
• Labour strategy
• Procurement strategy
• Governance
• Risk management

Appendix 6
Blackwater – Resource update
59
Tonnes
(000's)
Au
(g/t)
Ag
(g/t)
Au
(Moz)
Ag
(Moz)
Tonnes
(000's)
Au
(g/t)
Ag
(g/t)
Au
(Moz)
Ag
(Moz)
Measured & Indicated Resources
Direct processing material
Measured 116,955 1.04 5.6 3.90 21.06 88,188 0.94 5.2 2.67 14.74
Indicated 189,044 0.78 6.0 4.73 36.47 207,958 0.81 6.2 5.40 41.45
M&I (direct processing) 305,999 0.88 5.8 8.62 57.52 296,146 0.85 5.9 8.07 56.20
Stockpile material
Measured 26,521 0.30 4.1 0.26 3.50 20,156 0.31 3.8 0.20 2.46
Indicated 64,382 0.30 4.4 0.62 9.11 71,861 0.30 4.0 0.70 9.24
M&I (stockpile) 90,904 0.30 4.3 0.87 12.60 92,017 0.30 4.0 0.90 11.70
Total M&I 396,903 0.74 5.5 9.50 70.13 388,163 0.72 5.4 8.96 67.90
Inferred Resources
Inferred (direct processing) 13,815 0.76 4.1 0.34 1.82 16,585 0.58 10.8 0.31 5.76
Inferred (stockpile) 3,785 0.31 3.6 0.04 0.44 6,751 0.25 8.9 0.05 1.93
Total Inferred 17,600 0.66 4.0 0.38 2.26 23,336 0.48 10.2 0.36 7.69
Notes:
4. Direct processing material defined as mineralization above a 0.4 g/t AuEq cut-off and likely to be mined and processed directly.
5. Stockpile material is defined as mineralization between a 0.30 g/t AuEq and a 0.40 AuEq cut-off that is suitable for stockpiling and future processing based on average metallurgical recoveries as described in Note 1above.
Blackwater Mineral Resource Estimate
March 2013 Mineral Resource 2012 Year End Mineral Resource
1. M ineral resources are reported within a conceptual open pit shell based on metal prices of $1,400/oz gold and $28.00/oz silver. The M arch 2013 mineral resource estimate utilizes average metallurgical recoveries of 88.0%gold and 64.0%silver for
oxide mineralization, 85.0%gold and 58.0%silver for transitional oxide/sulfide mineralization and 85.0%gold and 44.0%silver for sulfide mineralization. The 2012 year-end mineral resource estimate utilizes average metallurgical recoveries of 86%gold
and 44.9%silver for all material types.
2. Total contained metal calculated on the basis of Tonnes * Grade / 31.10348 grams per troy ounce.
3. Gold-equivalent cut-off grade estimates are based on $1,400/oz gold and $28.00/oz silver and average metal recoveries as described in Note 1above.

Appendix 7
Reserves and resources summary
60
Note: 1. Year end 2012 Mineral Resources updated for Blackwater Resource update on April 4, 2013 and New Afton C-Zone updated on May 1, 2013.
2. Year end 2011 Mineral Resources presented at Investor Day on February 2, 2012.
Gold
Koz
Silver
Koz
Copper
Mlbs
Gold
Koz
Silver
Koz
Copper
Mlbs
Proven and Probable Reserves 7,752 31,256 3,282 7,863 34,347 2,888
Measured and Indicated Resources (inclusive of Reserves) 23,075 146,247 4,223 18,797 115,268 3,946
Inferred Resources 4,542 81,376 1,187 6,323 76,856 2,202
M&I Resources (inclusive of Reserves)
Mesquite 5,684 - - 5,534 - -
Cerro San Pedro 1,703 57,980 - 1,812 55,860 -
Peak 880 1,350 146 948 1,570 167
New Afton 2,224 7,292 1,980 1,742 5,470 1,586
Blackwater 9,497 70,128 - 5,423 25,774 -
Capoose 196 9,497 - 384 26,594 -
El Morro 2,891 - 2,097 2,954 - 2,193
Total M&I 23,075 146,247 4,223 18,797 115,268 3,946
Current(1)
Mineral Reserves and Resources Summary
Year End 2011(2)

Appendix 7
Reserves and resources summary (cont’d)
61
Tonnes
000's
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
Mesquite
Proven 13,140 0.68 - - 287 - -
Probable 114,409 0.56 - - 2,055 - -
Mesquite P&P 127,549 0.57 - - 2,342 - -
Cerro San Pedro
Proven 21,100 0.52 17.1 - 353 11,600 -
Probable 26,400 0.48 17.4 - 407 14,800 -
CSP P&P 47,500 0.50 17.3 - 760 26,400 -
Peak
Proven 2,109 5.89 7.5 1.08 399 510 50
Probable 2,118 3.82 6.8 1.18 260 466 55
Peak P&P 4,227 4.85 7.2 1.13 659 976 105
New Afton
Proven - - - - - - -
Probable 52,500 0.65 2.3 0.93 1,100 3,880 1,080
New Afton P&P 52,500 0.65 2.3 0.93 1,100 3,880 1,080
El Morro 30% Basis
Proven 307,949 0.57 - 0.56 1,705 - 1,135
Probable 335,152 0.37 - 0.44 1,186 - 962
El Morro P&P 643,101 0.47 - 0.49 2,891 - 2,097
Metal grade Contained metal
100% Basis
Mineral Reserves statement as at December 31, 2012

Appendix 7
62
Tonnes
000's
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
Mesquite
Measured - oxide 19,100 0.51 - - 313 - -
Indicated - oxide 274,100 0.38 - - 3,349 - -
Meqsuite M&I - oxide 293,200 0.39 - - 3,662 - -
Measured - non oxide 4,900 0.88 - - 139 - -
Indicated - non oxide 96,000 0.61 - - 1,883 - -
Mesquite M&I - non oxide 100,900 0.62 - - 2,022 - -
Total Mesquite M&I 394,100 0.45 - - 5,684 - -
Cerro San Pedro
Measured - oxide 27,100 0.34 15.0 - 303 13,100 -
Indicated - oxide 49,000 0.24 13.0 - 380 20,480 -
CSP M&I - oxide 76,100 0.28 13.7 - 683 33,580 -
Measured - sulphide 15,200 0.47 11.9 - 229 5,800 -
Indicated - sulphide 60,400 0.41 9.6 - 791 18,600 -
CSP M&I - sulphide 75,600 0.42 10.1 - 1,020 24,400 -
Total CSP M&I 151,700 0.35 11.9 - 1,703 57,980 -
Peak
Measured 2,700 5.74 7.5 1.05 494 647 62
Indicated 3,200 3.75 6.8 1.19 386 703 84
Peak M&I 5,900 4.66 7.1 1.13 880 1,350 146
Measured and Indicated mineral Resource statement (inclusive of Reserves) as at December 31, 2012

Appendix 7
63
Tonnes
000's
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
New Afton
A&B Zones
Measured 33,500 0.86 2.9 1.18 929 3,160 873
Indicated 45,900 0.67 2.4 0.89 984 3,530 896
A&B Zone M&I 79,400 0.75 2.6 1.01 1,913 6,690 1,769
C-Zone
Measured 1,282 0.75 1.4 0.79 31 56 22
Indicated 11,205 0.78 1.5 0.77 280 548 189
C-Zone M&I 12,486 0.77 1.5 0.77 311 602 211
Total New Afton M&I 91,886 0.75 2.6 1.00 2,224 7,292 1,980
Blackwater
Direct processing material
Measured 116,955 1.04 5.6 - 3,896 21,057 -
Indicated 189,044 0.78 6.0 - 4,729 36,467 -
M&I (direct processing) 305,999 0.88 5.8 - 8,624 57,524 -
Stockpile material
Measured 26,521 0.30 4.1 - 256 3,496 -
Indicated 64,382 0.30 4.4 - 617 9,108 -
M&I (stockpile) 90,903 0.30 4.3 - 873 12,604 -
Total Blackwater M&I 396,902 0.74 5.5 - 9,497 70,128 -
Capoose
Indicated 14,200 0.43 20.8 - 196 9,497 -
El Morro
Measured 307,949 0.57 - 0.56 1,705 - 1,135
Indicated 335,152 0.37 - 0.44 1,186 - 962
El Morro M&I 643,101 0.47 - 0.49 2,891 - 2,097
100% Basis 30% Basis
Measured and Indicated mineral Resource statement (inclusive of Reserves) as at December 31, 2012

Appendix 7
64
Tonnes
000's
Gold
g/t
Silver
g/t
Copper
%
Gold
Koz
Silver
Koz
Copper
Mlbs
Mesquite
Oxide 35,200 0.33 - - 373 - -
Non oxide 15,700 0.55 - - 278 - -
Mesquite Inferred 50,900 0.40 - - 651 - -
Cerro San Pedro
Oxides 53,400 0.17 9.0 - 300 15,400 -
Sulphides 50,500 0.34 8.5 - 550 13,800 -
CSP Inferred 103,900 0.25 8.8 - 850 29,200 -
Peak 1,700 2.64 4.8 1.13 144 261 42
New Afton
A&B-Zone 14,900 0.45 2.0 0.65 216 940 212
C-Zone 20,221 0.62 1.4 0.68 401 923 301
New Afton Inferred 35,121 0.56 1.5 0.68 617 1,863 513
Blackwater
Direct processing 13,815 0.76 4.1 - 337 1,821 -
Stockpile 3,785 0.31 3.6 - 38 438 -
Blackwater Inferred 17,600 0.66 4.0 - 375 2,263 -
Capoose 64,070 0.29 23.2 - 595 47,789 -
El Morro 137,555 0.99 - 0.70 1,310 - 632
100% Basis 30% Basis
Inferred Resource statement as at December 31, 2012

Appendix 7
Reserves and resources notes
65
Mineral reserves are contained within Measured and Indicated mineral resources. Measured and Indicated mineral resources that are not mineral reserves do not have demonstrated economic
viability as defined by a technical Feasibility Study. New Gold reports its Measured and Indicated mineral resources inclusive of its mineral reserves. Inferred mineral resources are not known
with the same degree of certainty as Measured and Indicated resources, do not have demonstrated economic viability, and are exclusive of mineral reserves. Mineral reserves have been
estimated and reported in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (‘CIM’) definition standards and guidelines and Canadian National Instrument 43-101 (‘NI
43-101’).
1) Mineral Reserves for the company’s mineral properties have been calculated based on the following metal prices and lower cut-off criteria:
Mineral Property Gold
(US$/oz)
Silver
(US$/oz)
Copper
(US$/lb)
Lower Cut-off
Mesquite $1,300 - - 0.21 g/t Au – Oxide reserves
0.41 g/t Au – Non-oxide reserves
Cerro San Pedro $1,300 $24.00 - US$4.33 /t NSR
Peak Mines $1,300 $24.00 $3.00 A$120 – 253/t NSR
New Afton $1,300 - $3.00 US$24/t NSR
El Morro $1,350 - $3.00 0.20% CuEq

Appendix 7
Reserves and resources notes (cont’d)
66
2) Mineral Resources for the company’s mineral properties have been calculated based on the following metal prices and lower cut-off criteria:
Mineral resources have been estimated and reported in accordance with CIM definition standards and guidelines and Canadian NI 43-101.
Mineral Property Gold
(US$/oz)
Silver
(US$/oz)
Copper
(US$/lb)
Lower Cut-off
Mesquite $1,400 - - 0.12 g/t Au – Oxide resources
0.24 g/t Au – Non-oxide resources
Cerro San Pedro $1,400 $28.00 - 0.1g/t AuEq – Open pit oxide resources
0.4g/t AuEq – Open pit sulphide resources
Peak Mines $1,400 $28.00 $3.25 A$97 - 137/t NSR
New Afton $1,400 $28.00 $3.25 0.40% CuEq – All resources
El Morro $1,500 - $3.50 0.15% Cu – Open pit resources
0.20% Cu – Underground resources
Blackwater $1,400 - - 0.40 g/t AuEq
Capoose $1,400 - - 0.40 g/t AuEq
3) Mineral resources are classified as Measured, Indicated and Inferred resources and are reported based on technical and economic parameters consistent with the methods most suitable for
their potential commercial exploitation. Where different mining and/or processing methods might be applied to different portions of a mineral resource, the designators ‘open pit’ and
‘underground’ have been applied to indicate envisioned mining method. Likewise the designators ‘oxide’, ‘non-oxide’ and ‘sulphide’ have been applied to indicate the type of mineralization as
it relates to appropriate mineral processing method and expected payable metal recoveries. Additional details regarding mineral resource estimation, classification and reporting parameters for
each of New Gold’s mineral properties are provided in the respective NI 43-101 Technical Reports which are available on SEDAR.
4) Blackwater April 4, 2013 update:
1. Mineral resources are reported within a conceptual open pit shell based on metal prices of $1,400/oz gold and $28.00/oz silver. The March 2013 mineral resource estimate utilizes
average metallurgical recoveries of 88.0% gold and 64.0% silver for oxide mineralization, 85.0% gold and 58.0% silver for transitional oxide/sulfide mineralization and 85.0% gold and 44.0%
silver for sulfide mineralization. The 2012 year-end mineral resource estimate utilizes average metallurgical recoveries of 86% gold and 44.9% silver for all material types.
2. Total contained metal is calculated based on Tonnes*Grade / 31.10348 grams per troy ounce.
3. Gold-equivalent cut-off grade estimates are based on $1,400/oz gold and $28.00/oz silver and average metal recoveries as described in Note 1 above.
4. Direct processing material is defined as mineralization above a 0.40 g/t AuEq cut-off and likely to be mined and processed directly.
5. Stockpile material is defined as mineralization between a 0.30 g/t AuEq and a 0.40 AuEq cut-off that is suitable for stockpiling and future processing based on average metallurgical
recoveries as described in Note 1 above.
5) Qualified Person: The preparation of New Gold’s mineral reserve and resource statements has been done by Qualified Persons as defined under Canadian National Instrument 43-101
under the oversight and review of Mark Petersen, a Qualified Person under National Instrument 43-101 and employee of New Gold.

Appendix 8
Commodity price/foreign exchange assumptions
67
Guidance assumptions
Spot:
2013
Gold price ($/oz) 1,600
Silver price ($/oz) 30.00
Copper price ($/oz) 3.50
USD/AUD 1.00
USD/CAD 1.00
USD/MXN 13.00
Spot
Gold price ($/oz) 1,415
Silver price ($/oz) 22.75
Copper price ($/oz) 3.30
USD/AUD 0.97
USD/CAD 0.97
USD/MXN 12.78

Contact information
68
Investor Relations
Hannes Portmann
Vice President, Corporate Development
416-324-6014
hannes.portmann@newgold.com

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