OceanaGold Corporate Update



    /NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
    DISTRIBUTION TO US NEWSWIRE SERVICES./

    MELBOURNE, Australia, July 24 /CNW/ - OceanaGold today announced that
consistent with previous company releases and the Open Briefing interview on
June 25th, 2008, the Company is currently in discussions with various parties
regarding strategic options for the Didipio project. These options include
joint venture and/or merger opportunities.

    About OceanaGold

    OceanaGold currently operates in the South Island of New Zealand and in
the Philippines. The Company's assets encompass New Zealand's largest gold
mine at Macraes which includes the recently commissioned Frasers Underground
operation, Reefton Gold Mine also in New Zealand and the Didipio Gold-Copper
Project in northern Luzon, Philippines currently under construction.
    OceanaGold is listed on the Toronto, Australian and New Zealand stock
exchanges under the symbol "OGC".





For further information:

For further information: Mr Darren Klinck, Vice President, Corporate and
Investor Relations, OceanaGold Corporation, Tel: 61 3 9656 5300


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