Exhibit 7







Certification of Chief Financial Officer
as Required by Rule 13a-14(a) under the Securities Exchange Act of 1934



I, Brian W. Penny, certify that:



| | 1. | I have reviewed this annual report on Form 40-F of New Gold Inc.;
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| | 2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact
necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with
respect to the period covered by this report;
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| | 3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in
all material respects the financial condition, results of operations and cash flows of the issuer as of, and for, the periods presented
in this report;
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| | 4. | The issuer’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and
procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined
in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the issuer and have:
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| | a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures
to be designed under our supervision, to ensure that material information relating to the issuer, including its consolidated subsidiaries,
is made known to us by others within those entities, particularly during the period in which this report is being prepared;
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| | b) | Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting
and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
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| | c) | Evaluated the effectiveness of the issuer’s disclosure controls and procedures and presented
in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered
by this report based on such evaluation; and
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| | d) | Disclosed in this report any change in the issuer’s internal control over financial reporting
that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially
affect, the issuer’s internal control over financial reporting; and
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| | 5. | The issuer’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control
over financial reporting, to the issuer’s auditors and the audit committee of the issuer’s board of directors (or persons
performing the equivalent functions):
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| | a) | All significant deficiencies and material weaknesses in the design or operation of internal control
over financial reporting which are reasonably likely to adversely affect the issuer’s ability to record, process, summarize
and report financial information; and
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| | b) | Any fraud, whether or not material, that involves management or other employees who have a significant
role in the issuer’s internal control over financial reporting.
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Date: March 30, 2017







|/s/ Brian Penny         | 
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|                        | 
|Brian W. Penny          | 
|Chief Financial Officer |