07:35 AM EDT, 09/08/2025 (MT Newswires) -- New Gold ( NGD ) traded 1% higher in NYSE American pre-market trading at last look after providing an update on exploration programs at its New Afton and Rainy River mines in Canada.

At New Afton, the company said underground drilling confirmed the width and continuity of previously reported mineralization at K-Zone and identified additional copper-gold porphyry mineralization from the roots of the zone.

Highlights from K-Zone included 4.90% copper equivalent over 48.0 meters and 3.87% copper equivalent over 155.0 m.

At Rainy River, New Gold ( NGD ) said surface drilling extended the NW Trend mineralization while underground drilling expanded existing mining zones.

Results included 3.20 gold equivalent over 10.0 m and 1.68 gold equivalent over 16.0 m.

"The remarkable exploration success at New Afton exemplifies the high quality of this asset and demonstrates the upside potential not yet captured in the reserve and resource statement," said Patrick Godin, New Gold's ( NGD ) president and chief executive.

"Rainy River, having only recently restarted exploration campaigns of significant scale, is already contributing to offsetting mining depletion through incremental extensions of existing mining zones," Godin said.

Based on the results, New Gold ( NGD ) said it plans to increase its consolidated 2025 exploration budget by $6 million to add 15,000 m of drilling at K-Zone.