Newmont Gold Production Increased Supported By New Production From Merian and Long Canyon

DENVER, CO - “We continued to make Newmont Mining Corporation a safer and more profitable business in 2016, with differentiated cash flow, financial strength and growth prospects,” said Gary Goldberg, President and Chief Executive Officer. “We increased adjusted EBITDA by 25 percent to $2.4 billion and more than doubled free cash flow to nearly $800 million on the back of superior operational performance. We invested these proceeds with an eye to long-term value creation – building two mines, advancing profitable expansions in the Americas and Australia, and adding higher grade ounces to our reserve base. Work to optimize our portfolio culminated in the sale of our PTNNT stake for $920 million. These proceeds helped us retire more than $1.3 billion in debt, improve our liquidity and increase dividends. Our plans for 2017 and beyond remain focused on improving our underlying business, strengthening our portfolio and creating value for shareholders.”

Attributable gold production increased seven percent to 4.9 million ounces for the year supported by new production from Merian and Long Canyon; a full year of production at Cripple Creek & Victor and Carlin’s Turf Vent Shaft; and productivity improvements at Kalgoorlie. These ounces offset the impacts of declining production at Yanacocha and geotechnical issues at Carlin. Fourth quarter production improved 17 percent to 1.3 million ounces with production at Merian, Long Canyon and Cripple Creek & Victor offsetting grade reduction at Yanacocha.

North America production will increase between 2.0 and 2.2 million ounces in 2017 with a full year of operations at Long Canyon offsetting the impact of higher planned stripping at Twin Creeks. Production declines slightly to between 1.9 and 2.1 million ounces in 2018 and between 1.8 and 2.0 million ounces in 2019 due to planned stripping at Carlin and continued stripping at Twin Creeks. Both sites return to higher production levels in 2020.

South America production is expected to increase from between 630,000 and 690,000 ounces in 2017 to between 625,000 and 725,000 ounces in 2018 with full production at Merian and then to decrease to between 500,000 and 600,000 ounces in 2019 due to declining production from Yanacocha and higher stripping at Merian. Quecher Main at Yanacocha represents additional upside currently not captured in guidance. The Company continues to advance oxide and sulfide potential at Yanacocha.

Australia production is expected to remain relatively stable in 2017 and 2018 at between 1.5 and 1.7 million ounces dropping slightly to between 1.4 and 1.6 million ounces in 2019 as Boddington stripping results in lower grades and lower production before returning to higher production levels in 2020. The Company is studying a further expansion at Tanami which represents additional upside not currently captured in guidance.

Africa production is expected to decrease from between 715,000 and 775,000 ounces in 2017 to between 650,000 and 750,000 ounces in 2018 as softer ores and higher grade stockpiles are depleted at Akyem. Production is then expected to increase to between 825,000 and 925,000 ounces in 2019 as Ahafo reaches higher grade ore in the Subika pit. The Company continues to advance the Subika Underground and Ahafo Mill Expansion projects that represent additional upside currently not captured in guidance. A decision on these projects is expected in the first half of 2017.