Newmont Had Record Revenues Of $2.6 Billion For The Third Quarter 

DENVER, CO - Newmont Mining Corporation reported record quarterly revenue of $2.6 billion for the third quarter compared to $2.0 billion in the prior year quarter. "With the substantial free cash flow that we continue to generate in the current metal price environment, we remain focused on progressing the development of our next generation of mining projects," stated Richard O'Brien, President and Chief Executive Officer. "This includes Conga in Peru, Akyem in Ghana, and Hope Bay in Canada, as well as a series of satellite deposits in Nevada.Of the $1.3-$1.5 billion in capital we expect to spend this year, approximately 40% will be invested in our development pipeline, with increasing reinvestment expected over the next several years."

With three quarters of production completed, the Company is narrowing its previously announced 2010 outlook for equity gold production from 5.3 to 5.5 million ounces to 5.3 to 5.4 million ounces. In addition, Newmont is updating its 2010 outlook for costs applicable to sales from between $460 and $480 per ounce to between $485 and $500 per ounce, based on the higher gold price and weaker US dollar.  In the third quarter of 2010, the Company reported equity gold production of 1.4 million ounces at costs applicable to sales of $477 per ounce on a co-product basis. Costs applicable to sales increased 18% from the prior year quarter due to higher waste mining and royalty costs, a stronger Australian dollar, the addition of higher cost production at Boddington and lower production in South America, partially offset by higher production in Africa. Nevada produced 453,000 equity ounces of gold at costs applicable to sales of $575 per ounce during the third quarter. Gold production decreased 7% from the prior year quarter due to lower leach tons placed at Twin Creeks and Carlin, lower Gold Quarry ore feed to Mill 5 due to the slope failure which occurred in late 2009 and the completion of underground mining at Deep Post in 2009. Costs applicable to sales increased 6% from the prior year quarter due to lower production, partially offset by higher by-product credits. The Company now expects 2010 equity gold production from Nevada of between 1.71 to 1.75 million ounces at costs applicable to sales of between $590 and $610 per ounce. Equity gold production at La Herradura in Mexico during the third quarter was 42,000 ounces at costs applicable to sales of $464 per ounce. Gold production increased 75% from the prior year quarter due to the commencement of production from the Soledad and Dipolos pits in January 2010. Costs applicable to sales per ounce increased 32% from the prior year quarter due to higher mining costs associated with waste removal from the two new pits. The Company now expects La Herradura equity gold production of between 155,000 to 165,000 ounces in 2010 at costs applicable to sales of between $405 and $420 per ounce.  Equity gold production during the third quarter at Yanacocha in Peru was 182,000 ounces at costs applicable to sales of $420 per ounce. Gold production decreased 35% from the prior year quarter due to mine sequencing resulting in lower leach tons placed, transitional ore stockpiling at La Quinua and lower mill grade and recovery. Costs applicable to sales increased 43% from the prior year quarter due to lower production, higher waste mining and higher diesel and royalty costs, partially offset by higher silver by-product credits. The Company now expects 2010 equity gold production at Yanacocha of between 760,000 and 770,000 ounces at costs applicable to sales of between $400 and $420 per ounce. Approximately 15,000 equity ounces of production is expected in 2010 at La Zanja also in South America, which began commercial production in the third quarter. Boddington in Australia, produced 180,000 ounces of gold and 14 million pounds of copper during the third quarter at costs applicable to sales of $617 per ounce ($487 per ounce on a by-product basis) and $1.81 per pound, respectively.  Unplanned mill maintenance resulted in lower throughput and production for July and August, while higher mill grades resulted in higher gold and copper production in September. Compared to the second quarter of 2010, gold and copper production decreased by 2% and 12%, respectively. Commercial production was declared at Boddington during the fourth quarter 2009, thus it is compared on a quarter over quarter, rather than year over year basis.  Gold production for 2010 is now expected to be between 700,000 and 750,000 ounces at costs applicable to sales of between $575 to $595 per ounce. Copper production for 2010 is now expected to be between 50 to 60 million pounds, at costs applicable to sales of between $1.75 and $1.95 per pound. Equity gold and copper production during the third quarter at Batu Hijau in Indonesia was 106,000 ounces and 69 million pounds, respectively, at costs applicable to sales of $211 per ounce and $0.65 per pound, respectively.  The Company now expects 2010 equity gold and copper production at Batu Hijau of between 310,000 and 340,000 ounces, and between 250 and 265 million pounds, respectively. The Company expects 2010 gold and copper costs applicable to sales of between $250 and $270 per ounce and $0.65 and $0.75 per pound, respectively.  Equity gold production at the other Australia/New Zealand operations during the third quarter was 284,000 ounces at costs applicable to sales of $552 per ounce. Gold production during the third quarter at Ahafo in Ghana was 156,000 ounces at costs applicable to sales of $422 per ounce. Gold production increased 8% from the prior year quarter due to higher grade ore, partially offset by lower throughput. Costs applicable to sales per ounce decreased 5% from the prior year quarter due to higher production and increases in ore stockpiles, partially offset by higher diesel and royalty costs. Third quarter 2010 production included 16,000 incremental start-up ounces from the Amoma pit, resulting in net sales of $13 million included in Other income, net. Commercial production for the Amoma pit occurred on October 1.  The Company expects 2010 gold production at Ahafo of between 520,000 and 540,000 ounces at costs applicable to sales of between $430 and $470 per ounce.  The company's address is 6363 South Fiddler's Green Circle, Suite 800, Greenwood Village, CO 80111, 303.863.7414, fax: 303.837.5837.