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Newmont Increases Gold Reserves ~6% to Record 99 Million Ounces; Copper Reserves Also a Record at ~10 Billion Pounds

February 23, 2012

DENVER, Feb. 23, 2012 /PRNewswire/ — Newmont Mining Corporation (NYSE: NEM) (“Newmont” or “the Company”) today announced it increased attributable gold reserves by 5.3 million ounces, net of depletion, to 98.8 million ounces in 2011. Highlights include:

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  • Record gold reserves of 98.8 million ounces, an increase of 5.6% from 2010;
  • Record copper reserves of 9.7 billion pounds, an increase of 3.2% from 2010; and
  • Reserves calculated at $1,200 per ounce and $3.00 per pound, respectively.

“We are pleased to report a 6% increase in our gold reserves to a record 98.8 million ounces and a record 9.7 billion pounds of copper in 2011, highlighting the potential of our extensive land positions in each of our four operating regions,” commented Richard O’Brien, President and CEO. “Over the last 10 years, we have added an industry leading 85 million ounces of reserves through organic growth alone, more than offsetting the 75 million ounces of depleted reserves through production.”

North America was the largest contributor to higher gold and copper reserves in 2011, up 10% and 24%, respectively, as exploration activity drove increases in gold reserves at Carlin, Phoenix, and Turquoise Ridge, and copper reserves at Phoenix.

Attributable gold Measured and Indicated non-reserve mineralization (“NRM”)(1) for 2011 was 1.4 billion tons at an average grade of 0.019 ounces per ton, up from 1.3 billion tons at an average grade of 0.019 ounces per ton for 2010. In addition, attributable gold Inferred NRM was 650 million tons at an average grade of 0.024 ounces per ton. Attributable copper Measured and Indicated NRM for 2011 was 1.0 billion tons at an average grade of 0.14%, up from 849 million tons at a grade of 0.15% from 2010. In addition, attributable copper Inferred NRM was 410 million tons at an average grade of 0.15%. Gold and copper NRM were calculated using prices of $1,400 per ounce and $3.50 per pound, respectively. Total gold and copper NRM increased 12% and 9%, respectively, over 2010 on a contained metal basis. Attributable silver Measured and Indicated NRM for 2011 was 690 million tons at an average grade of 0.92 ounces per ton, with additional inferred NRM of 520 million tons at an average grade of 0.10 ounces per ton.

Exploration: 2011 Highlights and 2012 Planned Activity

Newmont’s 2011 exploration program produced strong results for a fourth consecutive year from more than 125 drill rigs and approximately 1.3 million meters of drilling. Drill programs focused on the entire resource pipeline and led to success in early-stage exploration while converting more than enough reserves to replace depletion. With more than 150 projects in 2011 and 175 projects in 2012, our exploration programs are gaining momentum and are designed to fully support our strategic growth plan not only to 2017, but also for years beyond.

Our North American region converted the largest gold reserve (6.2 million ounces) and NRM (5.5 million ounces) led by open pit expansions at Gold Quarry, Phoenix, and underground expansion at Turf-Leeville. We continue to expect strong exploration results from the North America region again in 2012 as we expect to declare the first NRM ounces at our newly acquired Long Canyon asset. Early stage exploration yielded very encouraging results at Long Canyon, Leeville, Carlin Mine area, Mike, Phoenix and Fiber Line, and we will further advance these opportunities in 2012. Outside Nevada in 2011 we have further built our land position and advanced our target generation programs in Mexico, Alaska and BC/Yukon that we expect to continue this effort as well as to complete some scout drilling in 2012.

Our South America region converted 0.25 million ounces of gold reserves and 0.97 million ounces of gold NRM primarily from the Conga region. A number of exploration targets have been generated at the Yanacocha district and are planned for drilling in 2012. A number of targets have also been generated in the Conga region that await development outcomes. Extensive infill drilling at the Merian project in Suriname is targeted to add reserves in 2012 while follow-up drill programs at the nearby Sabajo project are accelerating with promising results.

Our Australia-Pacific region converted 2.3 million ounces of gold reserves and 1.6 million ounces of gold NRM with the largest contributions coming from our Callie underground mine in the Tanami and at KCGM. Jundee and Waihi drill programs added new underground mine life from surface and underground drill programs. Boddington successes were seen in early-stage work expected to be reflected in potentially new NRM in the near future. Each of these sites has significant exploration upside that we expect to aggressively test in 2012. Outside Australia, drill programs will accelerate at the Elang project in Indonesia and we will continue the target generation and scout-drilling in New Zealand, Papua New Guinea and Solomon Islands.

Our Africa region converted 2.8 million ounces of gold reserve and 2.0 million ounces of gold NRM primarily from Ahafo open pit layback expansions and from the Subika underground. Drill programs successfully expanded the wingspan of early-stage Subika underground mineralization and we began drilling extensions of the Apensu open pit. Early-stage exploration around Ahafo North demonstrated potential for additional open pit and underground mineralization near the existing reserve. Drill programs at Akyem suggest potential for underground mineralization that will be further explored in 2012. Future reserve and NRM growth looks promising and will be addressed by more than doubling the Ghanaian exploration budget in 2012. Outside Ghana we have a potential new discovery in Guinea and have scout-drilled a number of targets in Burkina Faso with encouraging results that will be followed up in 2012.

Newmont’s 2012 attributable exploration budget increased 9% over the prior year to $369 million with the largest portion assigned to North America (~$138 million). Budgets for 2012 in Australia-Pacific (~$87 million), Africa (~$58 million) and South America (~$54 million) have seen a significant increase relative to 2011 due to growth-related opportunities. Approximately $32 million is allocated to other strategic programs. Of the total attributable exploration budget, approximately two-thirds is expected to be directed towards brownfields exploration activity, with the balance of approximately one-third to be spent on greenfields programs.

(1) For detailed information on the Company’s year-end attributable Proven and Probable Reserves and Measured, Indicated and Inferred NRM, please refer to the Supplemental Information below and the cautionary statement at the end of this release.

Proven and probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determined economic feasibility. Metal price assumptions follow SEC guidance not to exceed a three year trailing average. The price sensitivity of reserves depends upon several factors including grade, metallurgical recovery, operating cost, waste-to-ore ratio and ore type. Metallurgical recovery rates vary depending on the metallurgical properties of each deposit and the production process used. The reserve tables included in this release list the average metallurgical recovery rate for each deposit, which takes into account the relevant processing methods. The cut-off grade, or lowest grade of mineralized material considered economic to process, varies with material type, price, metallurgical recoveries, operating costs and co- or by-product credits. The proven and probable reserve figures presented herein are estimates based on information available at the time of calculation. No assurance can be given that the indicated levels of recovery of gold and copper will be realized. Ounces of gold or pounds of copper included in the proven and probable reserves are calculated without regard to any losses during metallurgical treatment. Reserve estimates may require revision based on actual production. Market fluctuations in the price of gold and copper, as well as increased production costs or reduced metallurgical recovery rates, could render certain proven and probable reserves containing relatively lower grades of mineralization uneconomic to exploit and might result in a reduction of reserves.

We publish reserves annually, and will recalculate reserves at December 31, 2012, taking into account metal prices, changes, if any, in future production and capital costs, divestments and depletion as well as any acquisitions and additions during 2012.


                                                            Attributable Proven, Probable, and Combined Gold Reserves(1)
                                                            ------------------------------------------------------------
                                                                                                   December 31, 2011                                         December 31, 2010
                                                                                                                                                             -----------------
    Deposits/Districts by                                                                                                 Proven and Probable    Metallurgical       Proven + Probable
     Reporting Unit                                                 Proven Reserves                             Probable Reserves                               Reserves               Recovery     Reserves
                                                                         ---------------       -----------------         --------------------    --------------     ------------------
                                                     Newmont
                                                               Share   Tonnage  Grade     Gold    Tonnage    Grade     Gold     Tonnage   Grade  Gold                       Tonnage   Grade    Gold
                                                                (000    (oz/     (000       (000     (oz/     (000       (000     (oz/     (000                      (000     (oz/     (000
                                                               tons)    ton)     ozs)      tons)     ton)     ozs)      tons)     ton)     ozs)                     tons)     ton)     ozs)
                                                               -----   -----    -----      -----    -----    -----      -----    -----    -----                     -----    -----    -----
    North America
      Carlin Open Pits,
       Nevada(2)                                         100%  92,600   0.058    5,410     239,100   0.030    7,210     331,700   0.038   12,620             77%    263,600   0.043   11,320
      Carlin Underground,
       Nevada                                            100%  11,300   0.271    3,070       6,700   0.300    2,020      18,000   0.282    5,090             86%     14,600   0.307    4,480
      Midas, Nevada                                      100%     300   0.315       80         500   0.177       80         800   0.226      160             95%        600   0.319      190
      Phoenix, Nevada                                    100%  24,900   0.018      460     422,200   0.016    6,790     447,100   0.016    7,250             72%    329,800   0.018    6,090
      Twin Creeks, Nevada                                100%  10,600   0.097    1,020      37,700   0.073    2,760      48,300   0.078    3,780             80%     57,800   0.076    4,390
      Turquoise Ridge,
       Nevada(3)                                          25%   1,700   0.444      740       2,300   0.440    1,020       4,000   0.442    1,760             92%      3,100   0.457    1,410
      Nevada In-Process(4)                               100%  23,000   0.020      460           0                0      23,000   0.020      460             65%     28,500   0.022      610
      Nevada Stockpiles(5)                               100%  65,100   0.053    3,440       3,100   0.028       90      68,200   0.052    3,530             76%     36,700   0.074    2,700
                             Total Nevada                    229,500   0.064   14,680     711,600   0.028   19,970     941,100   0.037   34,650             78%    734,600   0.042   31,200
      La Herradura, Mexico                                44%  51,000   0.021    1,090      60,400   0.020    1,240     111,400   0.021    2,330             62%    105,700   0.022    2,290
    --------------------                                 ---   ------   -----    -----      ------   -----    -----     -------   -----    -----            ---     -------   -----    -----
    TOTAL NORTH AMERICA                                       280,500   0.056   15,770     772,000   0.027   21,210   1,052,500   0.035   36,980             77%    840,300   0.040   33,490
    -------------------                                       -------   -----   ------     -------   -----   ------   ---------   -----   ------            ---     -------   -----   ------
    South America
      Conga, Peru(6)                                   51.35%       0                0     303,400   0.021    6,460     303,400   0.021    6,460             75%    317,200   0.019    6,080
      Yanacocha Open Pits(7)                           51.35%  34,200   0.050    1,710      85,700   0.022    1,860     119,900   0.030    3,570             72%    142,300   0.031    4,440
      Yanacocha In-Process(3)                          51.35%  13,100   0.025      330       2,100   0.027       60      15,200   0.025      390             78%     21,300   0.025      540
                              Total Yanacocha,
                              Peru                            47,300   0.043    2,040      87,800   0.022    1,920     135,100   0.029    3,960             72%    163,600   0.030    4,980
      La Zanja, Peru(8)                                46.94%   7,300   0.016      120      14,100   0.015      210      21,400   0.016      330             66%     20,600   0.017      350
      -----------------                                -----    -----   -----      ---      ------   -----      ---      ------   -----      ---            ---      ------   -----      ---
    TOTAL SOUTH AMERICA                                        54,600   0.040    2,160     405,300   0.021    8,590     459,900   0.023   10,750             73%    501,400   0.023   11,410
    -------------------                                        ------   -----    -----     -------   -----    -----     -------   -----   ------            ---     -------   -----   ------
    Asia Pacific
      Batu Hijau Open Pit(9)                           48.50% 127,600   0.017    2,110     196,100   0.005    1,040     323,700   0.010    3,150             75%    293,400   0.011    3,110
      Batu Hijau
       Stockpiles(5)(9)                                48.50%       0                0     156,900   0.003      490     156,900   0.003      490             70%    170,700   0.004      610
                              Total Batu Hijau,
                              Indonesia               48.50% 127,600   0.017    2,110     353,000   0.004    1,530     480,600   0.008    3,640             75%    464,200   0.008    3,720
      Boddington, Western
       Australia                                         100% 181,800   0.020    3,600     871,700   0.018   15,890   1,053,500   0.019   19,490             81%  1,067,700   0.019   20,300
      Duketon, Western
       Australia (10)                                  16.85%   2,000   0.044       90       8,800   0.045      400      10,800   0.045      490             95%      6,300   0.055      350
      Jundee, Western Australia                          100%   3,100   0.160      490         700   0.237      160       3,800   0.174      650             91%      4,700   0.160      750
      Kalgoorlie Open Pit and
       Underground                                        50%  13,300   0.059      790      41,700   0.056    2,350      55,000   0.057    3,140             85%     55,700   0.059    3,300
      Kalgoorlie Stockpiles(5)                            50%  53,900   0.023    1,260           0                0      53,900   0.023    1,260             78%     15,100   0.031      470
                              Total
                              Kalgoorlie,
                              Western
                              Australia                   50%  67,200   0.030    2,050      41,700   0.056    2,350     108,900   0.040    4,400             83%     70,900   0.053    3,780
      Tanami, Northern
       Territories                                       100%   6,200   0.156      960      10,500   0.149    1,560      16,700   0.152    2,520             94%     14,400   0.142    2,040
      Waihi, New Zealand                                 100%       0                0       3,200   0.112      360       3,200   0.112      360             89%      4,200   0.110      460
      ------------------                                 ---      ---              ---       -----   -----      ---       -----   -----      ---            ---       -----   -----      ---
    TOTAL ASIA PACIFIC                                        387,900   0.024    9,300   1,289,600   0.017   22,250   1,677,500   0.019   31,550             82%  1,632,300   0.019   31,400
    ------------------                                        -------   -----    -----   ---------   -----   ------   ---------   -----   ------            ---   ---------   -----   ------
    Africa
      Ahafo Open Pits(11)                                100%       0                0     194,700   0.055   10,790     194,700   0.055   10,790             87%    148,300   0.064    9,540
      Ahafo Underground (12)                             100%       0   0.000        0       5,900    0.11      660       5,900   0.112      660             89%          0   0.000        0
      Ahafo Stockpiles(5)                                100%  21,000   0.030      630           0                0      21,000   0.030      630             86%     14,100   0.033      460
                              Total Ahafo,
                              Ghana                     100%  21,000   0.030      630     200,600   0.057   11,450     221,600   0.055   12,080             87%    162,400   0.062   10,000
      Akyem, Ghana(13)                                   100%       0                0     144,500   0.051    7,390     144,500   0.051    7,390             88%    137,900   0.052    7,200
    ----------------                                     ---      ---              ---     -------   -----    -----     -------   -----    -----            ---     -------   -----    -----
    TOTAL AFRICA                                               21,000   0.030      630     345,100   0.055   18,840     366,100   0.053   19,470             87%    300,300   0.057   17,210
    ------------                                               ------   -----      ---     -------   -----   ------     -------   -----   ------            ---     -------   -----   ------
    TOTAL NEWMONT WORLDWIDE                                   744,000   0.037   27,860   2,812,000   0.025   70,890   3,556,000   0.028   98,750             80%  3,274,300   0.029   93,500
    -----------------------                                   -------   -----   ------   ---------   -----   ------   ---------   -----   ------            ---   ---------   -----   ------

    (1)  Reserves are calculated at a gold price of US$1,200, A$1,250, or NZ$1,600 per ounce unless otherwise noted. 2010 reserves
     were calculated at a gold price of  US$950, A$1,100, or NZ$1,350  per ounce unless otherwise noted.  Tonnage amounts have been
     rounded to the nearest 100,000 unless they are less than 50,000, and gold ounces have been rounded to the nearest 10,000.
    (2)  Includes reserves under development at the Emigrant deposits for combined total undeveloped reserves of 1.6 million ounces.
    (3)  Reserve estimates provided by Barrick, the operator of the Turquoise Ridge Joint Venture.
    (4)  In-process material is the material on leach pads at the end of each year from which gold remains to be recovered.  In-
     process material reserves are reported separately where tonnage or contained ounces are greater than 5% of the total site-
     reported reserves and contained ounces are greater than 100,000.
    (5)  Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in the
     mills.  Stockpiles increase or decrease depending on current mine plans.  Stockpile reserves are reported separately where
     tonnage or contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater than
     100,000.
    (6)  Project is under development.
    (7)  Reserves include the currently undeveloped deposit at La Quinua Sur, which contains reserves of 0.8 million attributable
     ounces.
    (8)  Reserves estimates were provided by Buenaventura, the operator of the La Zanja project.
    (9)  Percentage reflects Newmont's economic interest at December 31, 2011.
    (10)  Reserve estimates provided by Regis Resources Ltd, in which Newmont holds a 16.85% interest.
    (11)  Includes undeveloped reserves at Yamfo South, Yamfo Central, Techire West, Subenso South, Subenso North, Yamfo Northeast,
     and Susuan totaling 3.2 million ounces.
    (12)  Subika Underground project is under development.
    (13)  Project is under development.


                                  Attributable Gold Mineralized Material Not in Reserves(1)(2)
                                  ------------------------------------------------------------
                                                                                    December 31, 2011
                                                                                    -----------------
                                                                                                    Measured +
                                                                                      Measured           Indicated          Indicated    Inferred
    Deposits/Districts                                                                Material                   Material             Material    Material
                                                              ---------          ----------        -----------          --------
                                             Newmont
                                              Share     Tonnage  Grade     Tonnage   Grade     Tonnage   Grade   Tonnage  Grade
                                                          (000    (oz/       (000     (oz/       (000     (oz/     (000    (oz/
                                                         tons)    ton)      tons)     ton)      tons)     ton)    tons)    ton)
                                                         -----   -----      -----    -----      -----    -----    -----   -----
    North America
                    Buffalo
                    Valley,
                    Nevada                         70%       0   0.000      16,500   0.019      16,500   0.019    2,900   0.014
                    Carlin Trend Open Pit,
                    Nevada                       100%  28,200   0.035      84,400   0.022     112,600   0.026   15,300   0.020
                    Carlin Trend Underground,
                    Nevada                       100%   4,700   0.221       2,900   0.272       7,600   0.241    1,300   0.264
                   Lone Tree Complex, Nevada           100%       0               2,200   0.023       2,200   0.023    5,000   0.016
                   Sandman, Nevada               100%       0                 600   0.050         600   0.050    2,100   0.048
                   Midas, Nevada                 100%      10   0.094         100   0.066         110   0.070      100   0.049
                   Phoenix, Nevada               100%       0             216,400   0.012     216,400   0.012  132,300   0.012
                   Twin Creeks, Nevada           100%   3,600   0.081      42,400   0.042      46,000   0.045   13,500   0.026
                    Turquoise Ridge (3),
                    Nevada                        25%     400   0.358         400   0.338         800   0.348      500   0.451
                    Nevada Stockpiles (4),
                    Nevada                       100%   3,100   0.039                           3,100   0.039    2,300   0.043
                             Total
                             Nevada                     40,010   0.065     365,900   0.020     405,910   0.025  175,300   0.018
                   La Herradura, Mexico            44%     200   0.016         400   0.015         600   0.016   38,300   0.016
                   --------------------           ---      ---   -----         ---   -----         ---   -----   ------   -----
    TOTAL NORTH AMERICA                                  40,210   0.065     366,300   0.020     406,510   0.025  213,600   0.018
    -------------------                                  ------   -----     -------   -----     -------   -----  -------   -----
    South America
                   Conga, Peru                 51.35%       0              89,300   0.012      89,300   0.012  130,500   0.011
                   Yanacocha, Peru             51.35%   7,000   0.015      18,400   0.017      25,400   0.016  106,100   0.023
                   Merian, Suriname               50%       0              28,900   0.039      28,900   0.039   18,400   0.036
                   La Zanja(5), Peru           46.94%     300   0.004         300   0.004         600   0.008    2,100   0.015
                   -----------------           -----      ---   -----         ---   -----         ---   -----    -----   -----
    TOTAL SOUTH AMERICA                                   7,300   0.014     136,900   0.018     144,200   0.018  257,100   0.018
    -------------------                                   -----   -----     -------   -----     -------   -----  -------   -----
    Asia Pacific
                   Batu Hijau (6), Indonesia         48.50%   3,400   0.018     157,400   0.007     160,800   0.008   37,300   0.002
                    Boddington, Western
                    Australia                    100%  25,100   0.012     493,400   0.014     518,500   0.013   53,100   0.016
                   Jundee, Western Australia           100%       0                 700   0.194         700   0.194    1,000   0.224
                    Kalgoorlie, Western
                    Australia                     50%   6,100   0.035      17,200   0.032      23,300   0.033      300   0.078
                    Duketon (7), Western
                    Australia                  16.85%   1,260   0.030       6,200   0.026       7,460   0.000   15,200   0.024
                    Tanami, Northern
                    Territory                    100%     500   0.113       3,600   0.109       4,100   0.109   10,400   0.168
                   Waihi, New Zealand            100%       0               2,100   0.243       2,100   0.243      900   0.195
                   ------------------            ---      ---               -----   -----       -----   -----      ---   -----
    TOTAL ASIA PACIFIC                                   36,360   0.019     680,600   0.014     716,960   0.014  118,200   0.029
    ------------------                                   ------   -----     -------   -----     -------   -----  -------   -----
    Africa
                   Ahafo Open Pit, Ghana           100%       0              91,200   0.037      91,200   0.037   44,300   0.042
                   Ahafo Underground, Ghana           100%       0                   0                   0   0.000   14,500   0.116
                   Akyem, Ghana                  100%       0              13,300   0.016      13,300   0.016    3,400   0.030
                   ------------                  ---      ---              ------   -----      ------   -----    -----   -----
    TOTAL AFRICA                                              0             104,500   0.034     104,500   0.034   62,200   0.059
    ------------                                            ---             -------   -----     -------   -----   ------   -----
    TOTAL NEWMONT WORLDWIDE                              83,870   0.040   1,288,300   0.018   1,372,170   0.019  651,100   0.024
    -----------------------                              ------   -----   ---------   -----   ---------   -----  -------   -----

    (1)  Mineralized material is reported exclusive of reserves.
    (2)  Mineralized Material calculated at a gold price of US$1,400, A$1,475, or NZ$1,850 per ounce
     unless otherwise noted.  2010 Mineralized material was calculated at a gold price of US$1150,
     A$1,350, or NZ$1,600 per ounce. Tonnage amounts have been rounded to the nearest 100,000.
    (3)  Mineralized material estimates were provided by Barrick, the operator of the Turquoise Ridge
     Joint Venture.
    (4)  Stockpiles are comprised primarily of material that has been set aside to allow processing of
     higher grade material in the mills.  Stockpiles increase or decrease depending on current mine
     plans.
    (5)  Mineralized material estimates were provided by Buenaventura, the operator of the La Zanja
     Project.
    (6)  Percentage reflects Newmont's economic interest at December 31, 2011.
    (7)  Mineralized material estimates provided by Regis Resources Ltd, in which Newmont holds a 16.85%
     interest.


                                                                                     Attributable Copper Reserves(1)
                                                                                     -------------------------------
                                                                                                  December 31, 2011                                                               December 31, 2010
                                                                                                  -----------------                                                               -----------------
                                                                                                                                 Proven + Probable
                                                              Proven Reserves                                         Probable Reserves                                               Reserves                             Proven + Probable Reserve
                                                              ---------------                        -----------------          ------------------                               -------------------------
                                              Newmont
     Deposits/Districts                                                Share   Tonnage    Grade      Copper       Tonnage     Grade      Copper       Tonnage      Grade       Copper      Metallurgical   Tonnage   Grade     Copper
                                                        (000                (million       (000                 (million       (000                   (million                       (000                  (million
                                                       tons)     (Cu%)     pounds)       tons)      (Cu%)     pounds)       tons)       (Cu%)      pounds)       Recovery        tons)       (Cu%)      pounds)
                                                       -----     -----     ---------      -----      -----     ---------      -----       -----      ---------      --------        -----       -----     ---------
    North America
                    Phoenix, Nevada            100%  24,900      0.15%           70     425,400      0.15%        1,230     450,300        0.15%        1,300              61%    332,600        0.15%       1,030
                     Phoenix Copper Leach,
                     Nevada (2)                100%   9,900      0.24%           50     160,300      0.21%          690     170,200        0.21%          740              52%    132,900        0.23%         610
                                                ----      ---     -----           ---         ---   -------           ---         ---     -------           ---             ---         ---     -------          ---
    TOTAL NORTH AMERICA                                34,800      0.17%          120     585,700      0.16%        1,920     620,500        0.16%        2,040              58%    465,500        0.18%       1,640
    -------------------                                ------      ----           ---     -------      ----         -----     -------        ----         -----             ---     -------        ----        -----
    South America

                    Conga, Peru(3)           51.35%       0                       0     303,400      0.28%        1,690     303,400        0.28%        1,690              85%    317,200        0.26%       1,660
                                              ------      ---                                 ---     -----          ----       -----       -----          ----             ---         ---       -----         ----
    TOTAL SOUTH AMERICA                                     0                       0     303,400      0.28%        1,690     303,400        0.28%        1,690              85%    317,200        0.26%       1,660
    -------------------                                   ---                     ---     -------      ----         -----     -------        ----         -----             ---     -------        ----        -----
    Asia Pacific
                    Batu Hijau(3)            48.50% 127,600      0.51%        1,300     196,100      0.35%        1,370     323,700        0.41%        2,670              76%    293,400        0.44%       2,560
                     Batu Hijau,
                     Stockpiles(3)(4)        48.50%       0                       0     156,900      0.34%        1,060     156,900        0.34%        1,060              66%    170,700        0.35%       1,200
                     Batu Hijau,
                     Indonesia                48.50% 127,600      0.51%        1,300     353,000      0.34%        2,430     480,600        0.39%        3,730              73%    464,100        0.40%       3,760
                     Boddington, Western
                     Australia              100.00% 181,800      0.10%          350     871,700      0.11%        1,910   1,053,500        0.11%        2,260              83%  1,067,800        0.11%       2,360
                                             -------   ------   -------           ---         ---   -------          ----       -----   ---------          ----             ---         ---   ---------         ----
    TOTAL ASIA PACIFIC                                309,400      0.27%        1,650   1,224,700      0.18%        4,340   1,534,100        0.20%        5,990              77%  1,531,900        0.20%       6,120
    ------------------                                -------      ----         -----   ---------      ----         -----   ---------        ----         -----             ---   ---------        ----        -----
    TOTAL NEWMONT WORLDWIDE                           344,200      0.26%        1,770   2,113,800      0.19%        7,950   2,458,000        0.20%        9,720              74%  2,314,600        0.20%       9,420
    -----------------------                           -------      ----         -----   ---------      ----         -----   ---------        ----         -----             ---   ---------        ----        -----

    (1)  Reserves are calculated at US$3.00 or A$3.15 per pound copper price unless otherwise noted.  2010 reserves were calculated at US$2.50 or A$2.95 per
     pound copper price unless otherwise noted.  Tonnage amounts have been rounded to the nearest 100,000 and pounds have been rounded to the nearest 10 million.
    (2)  Project is under development.  Leach reserves are within Phoenix Reserve Pit.
    (3)  Project is under development.
    (4)  Percentage reflects Newmont's economic interest at December 31, 2011.
    (5)  Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material.  Stockpiles increase or decrease
     depending on current mine plans.  Stockpiles are reported separately where tonnage or contained metal are greater than 5% of the total site reported
     reserves.


                               Attributable Copper Mineralized Material Not in Reserves(1)(2)
                               --------------------------------------------------------------
                                                      December 31, 2011
                                                      -----------------
                                                                                             Measured
                                                                                                                            +
                                                                                     Measured                   Indicated           Indicated Inferred
    Deposits/Districts                                                               Material                    Material           Material  Material
                                                         ---------          ----------       ---------           ---------
                                        Newmont
                                         Share    Tonnage   Grade   Tonnage   Grade    Tonnage    Grade     Tonnage   Grade
                                                     (000              (000               (000                (000
                                                    tons)   (Cu%)    tons)   (Cu%)     tons)    (Cu%)     tons)    (Cu%)
                                                    -----   -----     -----   -----      -----    -----      -----    -----
    North America
      Phoenix,
       Nevada                                100%        0    0.00%  216,400    0.09%    216,400    0.09%    132,300   0.10%
      Phoenix
       Copper
       Leach,
       Nevada                                100%        0    0.00%   14,100    0.20%     14,100    0.20%     54,100   0.20%
      -------                                ---       ---    ----    ------    ----      ------    ----      ------   ----
    TOTAL NORTH
     AMERICA                                                         230,500    0.10%    230,500    0.10%    188,700   0.13%
    -----------                                                      -------    ----     -------    ----     -------   ----
    South America
      Conga, Peru                          51.35%        0    0.00%   89,300    0.19%     89,300    0.19%    130,480   0.19%
      -----------                          -----                      ------    ----      ------    ----     -------   ----
    TOTAL SOUTH
     AMERICA                                                                 89,300    0.19%     89,300    0.19%    130,480   0.19%
    -----------                                                      ------    ----      ------    ----     -------   ----
    Asia Pacific
      Batu Hijau,
       Indonesia
       (3)                                 48.50%    3,400    0.36%  157,400    0.33%    160,900    0.33%     37,300   0.25%
      Boddington,
       Western
       Australia                          100.00%   25,100    0.07%  493,400    0.09%    518,500    0.09%     53,100   0.08%
      -----------                         ------    ------    ----   -------    ----     -------    ----      ------   ----
    TOTAL ASIA
     PACIFIC                                        28,500    0.10%  650,800    0.15%    679,400    0.15%     90,400   0.15%
    ----------                                      ------    ----   -------    ----     -------    ----      ------   ----
    TOTAL NEWMONT WORLDWIDE                         28,500    0.10%  970,600    0.14%    999,200    0.14%    409,580   0.15%
    -----------------------                         ------    ----   -------    ----     -------    ----     -------   ----

    (1)  Mineralized material is reported exclusive of reserves.
    (2)  Mineralized material calculated at a copper price of US$3.50 or A$3.70 per
     pound unless otherwise noted.  2010 mineralized material was calculated at a
     copper price of US$3.00 or A$3.50 per pound.  Tonnage amounts have been rounded to
     the nearest 100,000.
    (3)  Percentage reflects Newmont's economic interest at December 31, 2011.


                                              Attributable Proven, Probable, and Combined Silver Reserves(1)
                                              --------------------------------------------------------------
                                                                     December 31, 2011
                                                                     -----------------
                                                                                                                         Proven and Probable        Metallurgical
    Deposits/Districts by Reporting Unit                                                            Proven Reserves                              Probable Reserves           Reserves Recovery
                                                                     ---------------             -----------------      --------------------
                                                Newmont
                                                 Share      Tonnage   Grade    Silver   Tonnage    Grade     Silver     Tonnage   Grade     Silver
                                                           (000      (oz/     (000       (000     (oz/       (000       (000     (oz/       (000
                                                           tons)     ton)     ozs)      tons)     ton)       ozs)      tons)     ton)       ozs)
                                                          -----     -----    -----      -----    -----      -----      -----    -----      -----
    North America
                   Midas, Nevada                    100%      300    4.624   1,200         500    8.629     4,050         800    7.201     5,250                88%
                   Phoenix, Nevada                  100%   24,900    0.250   6,250     425,400    0.244   103,730     450,300    0.244   109,980                36%
                   ---------------                  ---    ------    -----   -----     -------    -----   -------     -------    -----   -------               ---
    TOTAL NORTH AMERICA                                     25,200    0.296   7,450     425,900    0.253   107,780     451,100    0.255   115,230                38%
    -------------------                                     ------    -----   -----     -------    -----   -------     -------    -----   -------               ---
    South America
                    Conga,
                    Peru                                                51.35%       0                   0  303,400     0.064      19,400  303,400     0.064  19,400     70%
                   Yanacocha Open Pits            51.35%   18,500    0.081   1,490      71,100    0.137     9,750      89,600    0.125    11,240                25%
                   Yanacocha Stockpiles (2)       51.35%    1,300    0.363     460       4,800    1.466     6,970       6,100    1.235     7,430                36%
                   Yanacocha In-Process(3)        51.35%        0                0      59,500    0.485    28,840      59,500    0.485    28,840                12%
                                            Total Yanacocha,
                                            Peru                    19,800   0.099       1,950  135,400     0.337      45,560  155,200     0.306  47,510        19%
                                           -----------------             ------   -----       -----  -------     -----      ------  -------     -----  ------       ---
    TOTAL SOUTH AMERICA                                     19,800    0.099   1,950     438,800    0.148    64,960     458,600    0.146    66,910                34%
    -------------------                                     ------    -----   -----     -------    -----    ------     -------    -----    ------               ---
    Asia Pacific
                   Batu Hijau Open Pit(4)         48.50%  127,600    0.047   5,940     196,100    0.023     4,470     323,700    0.032    10,410                78%
                    Batu Hijau
                    Stockpiles(2)(4)              48.50%        0                0     156,900    0.015     2,430     156,900    0.015     2,430                72%
                                            Total Batu Hijau,
                                            Indonesia       48.50% 127,600   0.047       5,940  353,000     0.020       6,900  480,600     0.027  12,840        76%
                                           ------------------     -----  -------   -----       -----  -------     -----       -----  -------     -----  ------       ---
    TOTAL ASIA PACIFIC                                     127,600    0.047   5,940     353,000    0.020     6,900     480,600    0.027    12,840                76%
    ------------------                                     -------    -----   -----     -------    -----     -----     -------    -----    ------               ---
    TOTAL NEWMONT WORLDWIDE                                172,600    0.089  15,340   1,217,700    0.148   179,640   1,390,300    0.140   194,980                39%
    -----------------------                                -------    -----  ------   ---------    -----   -------   ---------    -----   -------               ---

    (1)  Reserves are calculated at a silver price of US$22.00, A$23.00, or NZ$29.00 per ounce unless otherwise noted. 2010
     reserves were calculated at a silver price of  US$15.00, A$17.50, or NZ$21.50  per ounce unless otherwise noted.  Tonnage
     amounts have been rounded to the nearest 100,000 unless they are less than 50,000, and gold ounces have been rounded to the
     nearest 10,000.
    (2)  In-process material is the material on leach pads at the end of each year from which gold remains to be recovered.
     In-process material reserves are reported separately where tonnage or contained ounces are greater than 5% of the total
     site-reported reserves and contained ounces are greater than 100,000.
    (3)  Stockpiles are comprised primarily of material that has been set aside to allow processing of higher grade material in
     the mills.  Stockpiles increase or decrease depending on current mine plans.  Stockpile reserves are reported separately
     where tonnage or contained ounces are greater than 5% of the total site-reported reserves and contained ounces are greater
     than 100,000.
    (4)  Percentage reflects Newmont's economic interest at December 31, 2011.


                                       Attributable Silver Mineralized Material Not in Reserves(1)(2)
                                       --------------------------------------------------------------
                                                                                       December 31, 2011
                                                                                       -----------------
                                                             Measured             Indicated         Measured + Indicated
    Deposits/Districts                                                                              Material             Material              Material Inferred Material
                                                            ---------            ----------        ---------------------     -----------------
                                         Newmont
                                          Share      Tonnage    Grade   Tonnage    Grade    Tonnage      Grade     Tonnage     Grade
                                                       (000      (oz/      (000     (oz/      (000                    (000
                                                       tons)     ton)     tons)     ton)      tons)     (oz/ton)     tons)   (oz/ton)
                                                      -----     -----     -----    -----     -----      --------     -----   --------
    North America
             Sandman, Nevada                 100%         0                600    0.238        600        0.238     2,100     0.167
             Midas, Nevada                   100%         0    1.719       100    4.762        100        4.352       100     9.560
             Phoenix, Nevada                 100%         0            216,400    0.173    216,400        0.173   132,300     0.197
              Phoenix Stockpiles
              (3), Nevada                    100%     9,900    0.423   196,000    0.051    205,900        0.069   230,300     0.075
             -------------------             ---      -----    -----   -------    -----    -------        -----   -------     -----
    TOTAL NORTH AMERICA                                 9,900    0.425   413,100    0.116    423,000        0.123   364,800     0.123
    -------------------                                 -----    -----   -------    -----    -------        -----   -------     -----
    South America
             Conga, Peru                   51.35%         0        0    89,300    0.047     89,300        0.047    99,100     0.033
             Yanacocha, Peru               51.35%     5,100    0.423    11,400    0.083     16,500        0.188    19,200     0.292
             ---------------               -----      -----    -----    ------    -----     ------        -----    ------     -----
    TOTAL SOUTH AMERICA                                 5,100    0.423   100,700    0.051    105,800        0.069   118,300     0.075
    -------------------                                 -----    -----   -------    -----    -------        -----   -------     -----
    Asia Pacific
              Batu Hijau (4),
              Indonesia                    48.50%     3,400    0.039   157,400    0.026    160,800        0.026    37,300     0.015
             ----------------              -----      -----    -----   -------    -----    -------        -----    ------     -----
    TOTAL ASIA PACIFIC                                  3,400    0.039   157,400    0.026    160,800        0.026    37,300     0.015
    ------------------                                  -----    -----   -------    -----    -------        -----    ------     -----
    TOTAL NEWMONT WORLDWIDE                            18,400    0.353   671,200    0.085    689,600        0.092   520,400     0.104
    -----------------------                            ------    -----   -------    -----    -------        -----   -------     -----

    (1)  Mineralized material is reported exclusive of reserves.
    (2)  Mineralized Material calculated at a silver price of US$26.00, A$27.50, or NZ$34.50 per ounce unless
     otherwise noted.  2010 Mineralized material was calculated at a gold price of US$18.00, A$21.00, or NZ$25.50
     per ounce. Tonnage amounts have been rounded to the nearest 100,000.
    (3)  Stockpiles are comprised primarily of material that has been set aside to allow processing of higher
     grade material in the mills.  Stockpiles increase or decrease depending on current mine plans.
    (4)  Percentage reflects Newmont's economic interest at December 31, 2011.

To view more detailed financial disclosure, including regional mine statistics, Results of Consolidated Operations, Liquidity and Capital Resources, Management’s Discussion & Analysis, relevant Risk Factors, and a complete outline of the 2011 Operating and Financial guidance by region, please see the Company’s Annual Report on Form 10-K, filed with the Securities and Exchange Commission on February 23, 2012, available at www.newmont.com.

Newmont Mining Corporation (NYSE: NEM) announced it will report Fourth Quarter and Year-End 2011 results after the market closes on Thursday, February 23, 2012. A conference call will be held on Friday, February 24 at 10:00 a.m. Eastern Time (8:00 a.m. Mountain Time); it will also be carried on the Company’s website.


    Conference Call
     Details
    ---------------
    Dial-In Number       888.566.1822
    Intl Dial-In Number  312.470.7116
    Leader               John Seaberg
    Passcode             Newmont
    Replay Number        866.396.4180
    Intl Replay Number   203.369.0506
    Replay Passcode                                          2012

    Webcast Details
    ---------------

http://services.choruscall.com/links/

    URL                   newmont120224.html

Cautionary Statement Regarding Forward-Looking Statements: This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation: (i) estimates of future mineral production and sales; (ii) estimates of future costs applicable to sales; (iii) estimates of future capital expenditures and consolidated advanced projects, research and development expenditures; and (iv) expectations regarding the development, growth and exploration potential of the Company’s projects. Estimates or expectations of future events or results are based upon certain assumptions, which may prove to be incorrect. Such assumptions, include, but are not limited to: (i) there being no significant change to current geotechnical, metallurgical, hydrological and other physical conditions; (ii) permitting, development, operations and expansion of the Company’s projects being consistent with current expectations and mine plans; (iii) political, social and legal developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) certain exchange rate assumptions for the Australian dollar to the U.S. dollar, as well as other the exchange rates being approximately consistent with current levels; (v) certain price assumptions for gold, copper and oil; (vi) prices for key supplies being approximately consistent with current levels; and (vii) the accuracy of our current mineral reserve and mineral resource estimates. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by the “forward-looking statements”. Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political and operational risks in the countries in which we operate, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company’s 2011 Annual Report on Form 10-K, filed on February 24, 2012, with the Securities and Exchange Commission, as well as the Company’s other SEC filings. The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook, to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors’ own risk.

Cautionary Statement regarding Reserves and NRM: Ian Douglas, Newmont’s Group Executive of Reserves, is the qualified person responsible for the preparation of the Reserve and NRM estimates in this presentation. The Reserves disclosed in this presentation have been prepared in compliance with Industry Guide 7 published by the SEC. As used in this news release, the term “Reserve” means that part of a mineral deposit that can be economically and legally extracted or produced at the time of the reserve determination. The term “economically,” as used in this definition, means that profitable extraction or production has been established or analytically demonstrated in a full feasibility study to be viable and justifiable under reasonable investment and market assumptions. The term “legally,” as used in this definition, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Newmont must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Newmont’s current mine plans. Reserves in this news release may be aggregated from the Proven and Probable classes. As used in this news release, the term “non-reserve mineralization” or “NRM” refers to Measured, Indicated and/or Inferred materials, which are exclusive of reserves. Newmont has determined that such NRM would be substantively the same as those prepared using the Guidelines established by the Society of Mining, Metallurgy and Exploration and defined as Resources. Estimates of NRM are subject to further exploration and development, are subject to additional risks, and no assurance can be given that they will eventually convert to future Mineral Reserves of the company. In addition, our current or future reserves and exploration and development projects may not result in new mineral producing operations. Even if significant mineralization is discovered and converted to reserves, it will likely take many years from the initial phases of exploration to development and ultimately to production, during which time the economic feasibility of production may change. Additionally, references to “attributable ounces,” “attributable pounds” and “attributable mineralization” in this news release are intended to mean that portion of gold or copper produced, sold or included in Proven and Probable Reserves or NRM that is attributable to our ownership or economic interest.

SOURCE Newmont Mining Corporation


Source: PR Newswire