Newmont Reports First Quarter 2017 Results

DENVER, CO - Newmont Mining Corporation reported first quarter 2017 results that demonstrated improved operational and financial performance. “We generated strong financial results this quarter and approved plans to invest in profitable growth in Ghana and a prospective gold district in the Yukon,” said Gary Goldberg, President and Chief Executive Officer. “We increased free cash flow by more than $320 million and adjusted EBITDA by 20 percent to $566 million compared to the prior year quarter. Our teams in Australia and South America overcame significant weather events safely and efficiently and we remain well on track to meet our 2017 outlook. Permits, funding and resources are in place to build the Subika Underground mine – which will produce 1.8 million ounces of gold over an 11-year mine life, and access ore grades that are three times higher than our surface mines – and the Ahafo Mill Expansion in Africa. Our cost and capital discipline, combined with our industry-leading balance sheet, gives us the means to continue self-funding projects, growing margins and improving the quality and life of our Reserves, with a goal to deliver sustainable value for our shareholders.”

Production guidance remains at between 2.0 and 2.2 million ounces in 2017 with a full year of operation at Long Canyon offsetting the impact of higher planned stripping at Twin Creeks. Guidance is unchanged at 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 are expected to return to higher production levels in 2020.

In South America production guidance remains between 630,000 and 690,000 ounces in 2017 and between 625,000 and 725,000 ounces in 2018 as Merian increases production. Guidance remains at between 500,000 and 600,000 ounces in 2019 due to declining production at 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.

In Australia production guidance for 2017 and 2018 remains at between 1.5 and 1.7 million ounces and between 1.4 and 1.6 million ounces for 2019 as Boddington stripping results in lower grades 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 guidance is improved following the inclusion of the Subika Underground and Mill Expansion projects. Production guidance improves to between 725,000 and 785,000 ounces in 2017 and improves to between 750,000 and 850,000 ounces in 2018 as Subika Underground offsets depletion of softer ores and higher grade stockpiles at Akyem. Production is expected to further improve in 2019 to between 1.0 and 1.1 million ounces as Ahafo reaches higher grade ore in the Subika pit and the Ahafo Mill Expansion achieves commercial production.