Precious Metals

District Consolidation of Owned and Operated Asset Enhances World-Class Portfolio

Newmont Corporation (NYSE: NEM, TSX: NGT) and Compañia de Minas Buenaventura S.A.A. (Buenaventura) (NYSE: BVN; Lima Stock Exchange: BUE.LM) announced that the companies have entered into a definitive purchase agreement through which Newmont will acquire Buenaventura's 43.65% interest in Minera Yanacocha.

"Newmont has successfully operated in Peru for more than 30 years and has deep knowledge of the asset and the value it brings to Newmont stakeholders. Buenaventura has been an exceptional partner and we look forward to continuing a strong relationship," said Newmont President and CEO Tom Palmer. "This acquisition gives Newmont control of the Yanacocha district where we are positioning the sulfides project for profitable production and value generation for decades to come. We are committed to continuing to be a catalyst for sustainable development in Peru by working closely with communities in the Cajamarca region and the Peruvian government."

Consistent with Newmont's district consolidation strategy, the acquisition enhances the Company's ownership of world-class assets. Newmont continues to advance its sulfides project at the pace the pandemic allows, investing more than half a billion dollars through 2022 as the project continues to progress toward a full-funds decision later this year. The sulfides project will increase Newmont's copper position, supporting the transition to a green economy.

Under the terms of the agreement Newmont will acquire Buenaventura's interest for $300 million plus contingent payments of up to $100 million, in part tied to higher metal prices. Concurrently, Newmont will transfer its ownership interest in the La Zanja joint venture to Buenaventura in exchange for royalties on any future production from the La Zanja operation. Newmont will also contribute $45 million to Buenaventura to cover future closure costs at La Zanja.

Newmont may also have an opportunity to fully consolidate ownership of Yanacocha, as Sumitomo is assessing whether to exercise a right in its 2018 purchase agreement to return its 5% interest to Yanacocha in exchange for the original purchase price.

Newmont 2022 and Long-term Capital Outlook

With the acquisition, Newmont is updating previously issued attributable development capital guidance to account for the sulfides project. All other guidance metrics remain unchanged from long-term outlook as announced on December 2, 2021.

Guidance Metric ($M) (+/- 5%)

2022

2023

2024

2025

2026

Attributable Sustaining Capital

925

825 - 1,025

825 - 1,025

825 - 1,025

825 - 1,025

Attributable Development Capital

1,400

1,300 – 1,500

1,100 - 1,300

400 - 600

100 - 300

Total Attributable Capital

2,325

2,225 - 2,425

2,025 - 2,225

1,325 - 1,525

1,025 - 1,225

The sulfides project will develop the first phase of sulfide deposits at Yanacocha through an integrated processing circuit, including an autoclave, to produce 45% gold, 45% copper and 10% silver. The project is expected to add average annual production of 525,000 gold equivalent ounces per year with all-in sustaining costs between $700 and $800 per ounce for the first five full years of production (2027-2031). An investment decision is expected in the second half of 2022 with a three-year development period. The first phase focuses on developing the Yanacocha Verde and Chaquicocha deposits to extend Yanacocha's operations to 2040, with second and third phases having the potential to extend life for multiple additional decades.

About Newmont
Newmont is the world's leading gold company and a producer of copper, silver, zinc and lead. The Company's world-class portfolio of assets, prospects and talent is anchored in favorable mining jurisdictions in North America, South America, Australia and Africa. Newmont is the only gold producer listed in the S&P 500 Index and is widely recognized for its principled environmental, social and governance practices. The Company is an industry leader in value creation, supported by robust safety standards, superior execution and technical expertise. Newmont was founded in 1921 and has been publicly traded since 1925.

At Newmont, our purpose is to create value and improve lives through sustainable and responsible mining. To learn more about Newmont's sustainability strategy and initiatives, visit us at www.newmont.com .

Cautionary Statement Regarding Forward Looking Statements, Including Outlook:

This news 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. Where a forward-looking statement 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. Forward-looking statements in this news release may include, without limitation: (i) estimates of Newmont's 2022 and long-term capital outlook through 2026, including attributable sustaining capital, attributable development capital and total attributable capital; (ii) expectations regarding the sulfides project, including without limitation, expectations of the timing of a full-funds decision, profitability and sustainability of future profitable production and the level of investment in 2022 and in the future, expected levels of gold, copper and silver production, expected average annual production and expected all-in sustaining costs for the first five-years of production, development of Yanacocha Verde and Chaquicocha, and potential to extend life for multiple additional decades; (iii) expectations regarding contingent payments, which may be impacted by metal prices and the outcome of certain tax disputes; (iv) the potential to fully consolidate ownership of Yanacocha; and (v) other similar statements regarding future performance or decisions. 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 operations and projects being consistent with current expectations and mine plans; (iii) political developments in any jurisdiction in which the Company operates being consistent with its current expectations; (iv) certain exchange rate assumptions being approximately consistent with current levels; (v) certain price assumptions for gold, copper, silver, zinc, lead and oil; (vi) prices for key supplies being approximately consistent with current levels; (vii) the accuracy of current mineral reserve and mineralized material estimates; and (viii) other planning assumptions, including relating to the impacts of Covid-19 or similar variants. For a more detailed discussion of risks and other factors that might impact future looking statements, see the Company's Annual Report on Form 10-K for the year ended December 31, 2020 and the Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2021, each filed with the U.S. Securities and Exchange Commission (the "SEC"), under the heading "Risk Factors," available on the SEC website or www.newmont.com . 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 .

Newmont Media Contact
Courtney Boone, 720.695.0039, courtney.boone@newmont.com

Newmont Investor Contact
Daniel Horton, 303.837.5468, daniel.horton@newmont.com

News Provided by Business Wire via QuoteMedia

NGT:CA
TSXV:LSX

LaSalle Exploration: Early-stage Precious Metals Exploration in Under-explored Areas of Quebec

LaSalle Exploration Corp. (TSXV:LSX) has launched its campaign on the Investing News Network’s resource channel.

LaSalle Exploration is a diverse resource exploration and development company focused on projects in the province of Quebec. The company is working to evaluate both the Eeyou Istchee James Bay region and under-explored regions of the Abitibi Greenstone Belt. The company owns a strong portfolio of projects including the Radisson gold property, the Blakelock gold-copper property and its recently-acquired Egan gold property.

Keep reading...Show less
NYSE:NEM

Precipitate Gold: Exploring in Prospective Mining Jurisdictions in the Dominican Republic

Precipitate Gold Corp. (TSXV:PRG) has launched its campaign on the Investing News Network’s resource channel.

Precipitate Gold is a mineral exploration company with district-scale strategic land positions in the Dominican Republic. The company is currently advancing its Pueblo Grande and Juan de Herrera projects in the Dominican Republic, where the company is also working to expand its existing portfolio. Precipitate Gold always works to acquire 100 percent of the properties that it owns, ensuring that there are no outstanding vendor payments or working commitments.

Keep reading...Show less
FRA:29W

White Gold Featured in the Mining Journal

White Gold Corp. (TSXV:WGO,OTC:WHGOF,FRA:29W) has been featured in a sponsored article published by the Mining Journal.

The article covered recent results from White Gold’s 2019 exploration program which is comprised of 17,000 meters of diamond drilling, 7,500 meters of reverse circulation drilling and upcoming drill plans. To date, White Gold has identified multiple new high-grade mineralization trends across its JP Ross project and White Gold project in the Yukon’s White Gold district. The new trends were all delineated within 10 kilometers away from last year’s Vertigo discovery area. One of White Gold’s goals this summer is to add more ounces to the VG zone on the company’s QV project, which sits 44 kilometers north of Newmont Goldcorp’s (TSX:NGT,NYSE:NEM) Coffee project.

Keep reading...Show less

New to the Investing News Network

New to the Investing News Network – August 2021

Keep reading...Show less
Steppe Gold Announces Q1 2022 Financial Results

Steppe Gold Announces Q1 2022 Financial Results

Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce its financial results for the three months ended March 31, 2022, following recent positive operational updates.

First Quarter Highlights (all figures in US$000's unless stated otherwise)

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Silver Hammer Announces Up to $3,000,000 Private Placement Led by Echelon Wealth Partners

Silver Hammer Announces Up to $3,000,000 Private Placement Led by Echelon Wealth Partners

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CSE: HAMROTCQB: HAMRF) Silver Hammer Mining Corp. (the " Company " or " Silver Hammer ") is pleased to announce its intention to complete a brokered private placement on a commercially reasonable efforts basis for gross proceeds of up to approximately C$3,000,000 (the " Offering "). The Offering will be led by Echelon Wealth Partners Inc. as lead agent and sole bookrunner (the " Agent ").

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Lahontan Engages Independent Trading Group as Market-Maker

Lahontan Engages Independent Trading Group as Market-Maker

Lahontan Gold Corp. (formerly, 1246765 B.C. Ltd.) (the "Company" or "Lahontan" ) is pleased to announce that it has entered into a market-making agreement (the "Agreement") with Independent Trading Group ("ITG"), pursuant to which ITG has agreed to provide market-making services to the Company in accordance with the policies of the TSX Venture Exchange (the " Exchange or TSX.V ") and applicable laws

ITG will trade shares of the Company on the TSX.V and other available trading venues with the objective of maintaining a reasonable market and improving liquidity for the Company's common shares.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Graycliff Exploration Intersects 5 Metres of Gold Mineralization Grading 6.23 g/t at Shakespeare Project, Ontario

Graycliff Exploration Intersects 5 Metres of Gold Mineralization Grading 6.23 g/t at Shakespeare Project, Ontario

Graycliff Exploration Limited (the "Company" or "Graycliff") (CSE:GRAY)(OTCQB:GRYCF)(FSE:GE0) is pleased to release a new batch of assay results from drilling the Phase Three drilling program at its Shakespeare Gold Project located on the Canadian Shield near Sudbury, Ontario. Phase Three (see press release dated June 3, 2021) focused on expanding on the extent of gold mineralization proximal to the historic Miller Shaft where initial gold mining took place more than 100 years ago

Drill Hole J-36 intersected 6.23 grams per tonne of gold ("g/t Au") over 5.00 metres ("m"), including 14.30 g/t Au over 1.00 m. Results continue to show strong gold mineralization extending from surface to the current limit of drilling at depth. Significant intervals for Holes J-34 to J-39 are detailed below.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Gold Bull Resources

Gold Bull completes sale of non-core Bulgarian assets

Gold Bull Resources Corp. (TSX-V: GBRC) (" Gold Bull " or the " Company ") is pleased to report that it has completed the sale of its wholly-owned subsidiary, Zelenrok EOOD (" Zelenrok "), to Raiden Resources Limited (" Raiden ") (ASX - RDN). Zelenrok holds the rights to the Zlatusha and Kalabak projects, as well as an additional mineral application, Draka, located in Bulgaria.

Highlights:

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
GCM Mining Declares June 15, 2022 Monthly Dividend

GCM Mining Declares June 15, 2022 Monthly Dividend

GCM Mining Corp. ("GCM Mining" or the "Company") (TSX: GCM, OTCQX: TPRFF) announced today that its Board of Directors has declared the next monthly dividend of CA$0.015 per common share will be paid on June 15, 2022 to shareholders of record as of the close of business on May 31, 2022.

About GCM Mining Corp.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×