Resource News

Newmont Corporation (NYSE: NEM, TSX: NGT) reported gold Mineral Reserves (reserves) of 92.8 million attributable ounces for 2021 compared to the Company's 94.2 million ounces at the end of 2020. Newmont has significant upside to other metals, including more than 15 billion pounds of copper reserves and nearly 600 million ounces of silver reserves. In addition, reserves and resources were further strengthened with the purchase of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022, adding 2.7 million ounces of gold reserves, 11.0 million gold resources, 700 million pounds of copper reserves and 2.6 billion copper resources. 1

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PERCENTAGE OF GOLD RESERVES BY JURISDICTION

PERCENTAGE OF GOLD RESERVES BY JURISDICTION

"Newmont's world-class portfolio of operations and projects is underpinned by a robust foundation of reserves and resources, along with the most extensive exploration program in the industry," said Tom Palmer, President and CEO. "In 2021, more than 80 percent of depletion was replaced as we continue to progress our most profitable greenfield and near-mine projects. Exploration continues to be a core competency at Newmont with a focus on extending mine life, developing districts, and discovering new opportunities in the most favorable jurisdictions."

KEY HIGHLIGHTS AND DIFFERENTIATORS:

  • Robust gold Mineral Reserves of 92.8 million ounces
  • Over 90 percent of gold reserves in top-tier jurisdictions
  • Addition of 6.5 million ounces in 2021 primarily through drilling
  • Gold reserve life at operating sites of 10 years or more, underpinned by a strong base at Boddington, Tanami, Ahafo, Yanacocha, Peñasquito, and Nevada Gold Mines (NGM), and further enhanced from our seven other operating mines and equity ownership in Pueblo Viejo
  • Significant gold reserves per share with 120 ounces per 1,000 shares, including the purchase of Buenaventura's interest in Minera Yanacocha
  • Measured & Indicated gold Mineral Resources of 68.3 million ounces and Inferred of 33.2 million ounces
  • Significant exposure to copper with 15.1 billion pounds in reserves, 17.8 billion pounds in Measured & Indicated resources and 8.6 billion pounds in Inferred resources
  • Additional exposure to other metals such as silver, zinc, and lead mainly at Peñasquito
  • Announced the acquisition of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022; further enhancing world-class asset ownership with a consistent district consolidation strategy 1

PERCENTAGE OF GOLD RESERVES BY JURISDICTION 2

Newmont's reserve base is a key differentiator with over 90 percent of gold reserves located in top-tier jurisdictions, an operating reserve life of more than 10 years and average reserve grade of 1.06 grams per tonne. In addition, Newmont has substantial exposure to other metals, with 65 million gold equivalent ounces 3 from copper, silver, zinc, lead and molybdenum.

PROVEN & PROBABLE GOLD RESERVES

In millions of ounces
2020 Gold Reserves

94.2

Additions

6.5

Net Revisions

(0.8

)

Depletion

(7.1

)

Reported 2021 Gold Reserves

92.8

Minera Yanacocha Transaction 4

2.7

Adjusted 2021 Gold Reserves

95.5

For 2021, Newmont reported 92.8 million ounces of gold Mineral Reserves, slightly lower than the prior year total of 94.2 million ounces. Depletion of 7.1 million ounces and unfavorable net revisions of 0.8 million ounces were largely offset by additions of 6.5 million ounces.

Additions before revisions of 6.5 million ounces through exploration met the Company's target despite higher costs and challenges created by the pandemic with travel restrictions and additional safety protocols. Notable reserve additions for the year from Newmont's operating sites included:

  • Cerro Negro added 1.1 million ounces primarily due to drilling in the Eastern Districts
  • Tanami added 0.8 million ounces largely due to the first declaration of reserves at Liberator
  • Éléonore added 0.4 million ounces primarily from drilling
  • Merian added 0.4 million attributable ounces primarily from drilling at the Maraba open pit
  • Ahafo added 0.4 million ounces primarily from drilling and updated technical assumptions at Subika Underground
  • Newmont's 38.5 percent interest in NGM added 3.0 million attributable ounces primarily from drilling at Goldrush

Net unfavorable revisions include 0.9 million ounces at Cerro Negro due to reserve downgrades related to drill spacing studies and updated technical assumptions. In addition gold Mineral Reserves reported negative revisions of 0.4 million ounces at Tanami, 0.2 million ounces at Boddington, 0.2 million ounces at Porcupine underground and 0.2 million ounces at Pueblo Viejo. Negative revisions were partially offset by favorable revisions of 0.6 million attributable ounces at NGM and 0.4 million ounces at Éléonore, in addition to acquisitions of 0.1 million attributable ounces related to South Arturo at NGM.

Newmont's 38.5 percent interest in NGM represented 19.3 million attributable ounces of gold reserves at year end, as compared to 17.4 million ounces at the end of 2020. Pueblo Viejo represented 3.6 million attributable ounces of gold reserves at year end as compared to 4.1 million ounces at the end of 2020, representing Newmont's 40 percent interest.

Gold reserve grade improved three percent to 1.06 grams per tonne compared to 1.03 grams per tonne in the prior year largely due to higher-grade reserves from the Company's 38.5 percent equity ownership in Nevada Gold Mines and positive results from our underground managed operations, including Éléonore, Tanami and Porcupine.

MEASURED & INDICATED GOLD RESOURCES

INFERRED GOLD RESOURCES

In millions of ounces In millions of ounces

2020 Gold Resources

69.6

2020 Gold Resources

31.6

Additions

1.6

Additions

3.3

Net Revisions

3.0

Net Revisions

0.6

Conversions

(5.9

)

Conversions

(2.3

)

Reported 2021 Gold Resources

68.3

Reported 2021 Gold Resources

33.2

Minera Yanacocha Transaction 4

7.4

Minera Yanacocha Transaction 4

3.6

Adjusted 2021 Gold Resources

75.7

Adjusted 2021 Gold Resources

36.8

In 2021, Newmont reported Measured and Indicated gold Mineral Resources of 68.3 million ounces as compared to 69.6 million ounces in the prior year. Inferred gold Mineral Resources totaled 33.2 million ounces as compared to 31.6 million ounces in 2020. In total, resource conversions to reserves were more than offset by additions and net positive revisions.

Measured and Indicated Gold Mineral Resources added through exploration programs were 1.6 million ounces and included notable additions before revisions of 0.3 million ounces at Tanami and 0.2 million ounces at Ahafo South underground.

Measured and Indicated gold Mineral Resources reported net revisions of 3.0 million ounces mainly driven by positive revisions of 1.3 million ounces at Boddington and 0.6 million ounces at Tanami. Additionally NGM added 2.1 million attributable ounces. Positive revisions were partially offset by negative revisions, including 1.1 million ounces at CC&V and 0.5 million ounces at Peñasquito.

Inferred Gold Mineral Resources added through exploration programs were 3.3 million ounces and included notable additions before revisions of 0.4 million ounces at Ahafo South, 0.4 million ounces at Éléonore, 0.4 million ounces at Cerro Negro and 0.4 million ounces at Tanami. Additionally, NGM added 0.8 million attributable ounces.

Inferred Gold Mineral Resources reported net revisions of 0.6 million ounces mainly driven by positive revisions of 0.6 million ounces at Cerro Negro and 0.3 million ounces at Ahafo South underground. Additionally, NGM added 1.1 million attributable ounces. Positive revisions were partially offset by negative revisions of 0.7 million ounces at Peñasquito and 0.5 million ounces at Tanami.

Newmont's Measured and Indicated gold Mineral Resource grade increased slightly to 0.66 grams per tonne compared to 0.65 grams per tonne in the prior year. Inferred gold Mineral Resource grade of 0.69 grams per tonne increased compared with 0.65 grams per tonne from 2020.

OTHER METALS

In 2021, copper reserves decreased slightly to 15,090 million pounds from 15,220 pounds in the prior year primarily due to mining depletion. Copper resources increased to 17,820 million pounds of Measured & Indicated and 8,640 million pounds of Inferred from 17,620 million pounds of Measured and Indicated and 8,620 million pounds of Inferred due to the addition of a layback at Boddington. 2021 copper figures exclude 700 million pounds of reserves and 2,645 million pounds of resources acquired through the purchase of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022.

Silver reserves decreased from 613 million ounces to 568 million ounces in the prior year, largely due to depletion at Peñasquito. Silver resources also decreased to 422 million ounces of Measured & Indicated and 163 million ounces of Inferred from 482 million ounces of Measured and Indicated and 204 million ounces of Inferred due to design updates at Peñasquito. 2021 silver figures exclude 49 million pounds of resources acquired through the purchase of Buenaventura's 43.65% interest in Minera Yanacocha in February 2022.

Lead reserves decreased to 2,580 million pounds from 2,940 million pounds in the prior year, and zinc reserves also decreased to 6,250 million pounds from 6,810 million pounds. These decreases are largely due to depletion at Peñasquito. Measured & Indicated lead resources decreased to 1,230 million pounds from 1,700 million pounds and Inferred lead resources decreased to 480 million pounds from 900 million pounds. Measured & Indicated zinc resources decreased to 2,690 million pounds from 3,700 million pounds and Inferred zinc resources decreased to 1,070 million pounds from 1,700 million pounds. These decreases are primarily due to design updates at Peñasquito.

1

The reserve and resource table contained herein reflect Newmont's ownership as of December 31, 2021. Investors are reminded that with the February 8, 2022 closing of Newmont's acquisition of Buenaventura's 43.65% interest in Minera Yanacocha, Newmont now holds a 95% interest.

2

North America includes 38.5 percent interest in Nevada Gold Mines; South America includes Newmont's 40 percent interest in Pueblo Viejo.

3

Gold Equivalent Ounces calculated using Mineral Reserve pricing as shown below and metallurgical recoveries for each metal on a site by site basis.

4

In February 2022, Newmont acquired Buenaventura's 43.65% interest in Minera Yanacocha.

EXPLORATION OUTLOOK

Newmont's attributable exploration expenditure for managed operations is expected to be approximately $250 million in 2022 with 80 percent of total exploration investment dedicated to near-mine expansion programs and the remaining 20 percent allocated to the advancement of greenfield projects.

Additionally, Newmont's share of exploration investment for its non-managed joint ventures will total approximately $45 million.

Geographically, the Company expects to invest approximately 38 percent in North America, 23 percent in South America, 17 percent in Australia and the remainder in Africa and other locations.

GOLD RESERVE SENSITIVITY

A $100 increase in gold price would result in an approximate six percent increase in gold reserves while a $100 decrease in gold price would result in an approximate eight percent decrease in gold reserves. These sensitivities assume an oil price of $60 per barrel (WTI), Australian dollar exchange rate of $0.75 and Canadian dollar exchange rate of $0.77.

For additional details on Newmont's reported Gold, Copper, Silver, Zinc, Lead and Molybdenum Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.

KEY RESERVE AND RESOURCE ASSUMPTIONS:

At December 31,

2021

2020

Gold Reserves (US$/oz.)

$1,200

$1,200

Gold Resources (US$/oz.)

$1,400

$1,400

Copper Reserves (US$/lb.)

$2.75

$2.75

Copper Resources (US$/lb.)

$3.25

$3.25

Silver Reserves (US$/oz.)

$20.00

$17.00

Silver Resources (US$/oz.)

$23.00

$20.00

Zinc Reserves (US$/lb.)

$1.15

$1.15

Zinc Resources (US$/lb.)

$1.40

$1.40

Lead Reserves (US$/lb.)

$0.90

$0.90

Lead Resources (US$/lb.)

$1.10

$1.10

Australian Dollar (A$:US$)

$0.75

$0.75

Canadian Dollar (C$:US$)

$0.77

$0.77

Mexican Peso (M$:US$)

$19.50

$19.50

West Texas Intermediate (US$/bbl.)

$60

$50

RESERVE AND RESOURCE TABLES

Proven and Probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determine economic feasibility. 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 assumed processing methods. The cut-off grade, or lowest grade of 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, silver, copper, lead, zinc and molybdenum will be realized. Ounces of gold and silver or tonnes of copper, zinc, lead, or molybdenum included in the Proven and Probable reserves are those contained prior to losses during metallurgical treatment. Reserve estimates may require revision based on actual production. Market fluctuations in the price of gold, silver, copper, zinc, lead, or molybdenum, 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.

The Measured, Indicated, and Inferred resource figures presented herein are estimates based on information available at the time of calculation and are exclusive of reserves. A "Mineral Resource" is a concentration or occurrence of solid material of economic interest in or on the Earth's crust in such form, grade, or quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade or quality, continuity and other geological characteristics of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge, including sampling. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories. Ounces of gold and silver or tonnes of copper, zinc, lead, and molybdenum included in the Measured, Indicated and Inferred resources are those contained prior to losses during metallurgical treatment. Market fluctuations in the price of gold, silver, copper, zinc, lead and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could change future estimates of resources. Please refer to the reserves and resources cautionary statement at the end of the release.

Proven and Probable reserves disclosed at December 31, 2021 have been prepared in accordance with the new Regulation S-K 1300 requirements of the SEC; whereas Proven and Probable reserves disclosed at December 31, 2020 have been prepared in accordance with the SEC's Industry Guide 7 ("IG7"). Our historical methodology applied to the prior year of estimating reserves was not significantly impacted as a result of the change from IG7 to S-K 1300, therefore we believe the amounts presented at December 31, 2021 and 2020, under the respective methodologies, are comparable.

We publish reserves annually, and will recalculate reserves at December 31, 2022, taking into account metal prices, changes, if any, to future production and capital costs, divestments and depletion as well as any acquisitions and additions during 2022.

Attributable Proven, Probable and Combined Gold Reserves (1)

December 31, 2021

December 31, 2020

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Tonnage (2)

Grade

Gold (3)

Tonnage (2)

Grade

Gold (3)

Tonnage (2)

Grade

Gold (3)

Tonnage (2)

Grade

Gold (3)

Deposits/Districts

Newmont
Share

(000
tonnes)

(g/tonne)

Ounces
(000)

(000
tonnes)

(g/tonne)

Ounces
(000)

(000
tonnes)

(g/tonne)

Ounces
(000)

Metallurgical
Recovery

(000
tonnes)

(g/tonne)

Ounces
(000)

North America

CC&V Open Pits (4)

100

%

70,700

0.44

1,000

15,400

0.37

180

86,100

0.43

1,180

60

%

105,200

0.48

1,610

CC&V Leach Pads (4)(5)

100

%

31,200

0.81

810

31,200

0.81

810

57

%

33,000

0.82

880

Total CC&V, Colorado

70,700

0.44

1,000

46,600

0.66

990

117,300

0.53

1,990

59

%

138,200

0.56

2,490

Musselwhite, Canada (6)

100

%

2,800

5.07

460

6,700

6.07

1,310

9,500

5.77

1,770

96

%

8,900

6.25

1,790

Porcupine Underground (7)

100

%

2,300

7.24

530

900

7.97

240

3,200

7.46

770

92

%

5,000

6.90

1,100

Porcupine Open Pit (8)

100

%

5,900

1.60

310

33,700

1.41

1,520

39,600

1.44

1,830

94

%

42,300

1.43

1,950

Total Porcupine, Canada

8,200

3.19

840

34,600

1.58

1,760

42,800

1.89

2,600

93

%

47,300

2.01

3,050

Éléonore, Canada (9)

100

%

2,200

5.03

350

9,000

5.06

1,470

11,200

5.05

1,820

91

%

7,800

5.00

1,260

Peñasquito Open Pits

100

%

107,200

0.62

2,140

219,100

0.56

3,910

326,300

0.58

6,050

69

%

348,200

0.60

6,680

Peñasquito Stockpiles (10)

100

%

7,800

0.43

110

27,900

0.19

170

35,700

0.24

280

69

%

39,600

0.33

420

Total Peñasquito, Mexico (11)

115,000

0.61

2,250

247,000

0.51

4,080

362,000

0.54

6,330

69

%

387,800

0.57

7,100

TOTAL NORTH AMERICA

198,900

0.77

4,900

343,900

0.87

9,610

542,800

0.83

14,510

78

%

590,000

0.83

15,690

South America

Yanacocha Open Pits (12)

51.35

%

16,500

0.66

350

68,200

0.68

1,490

84,700

0.68

1,840

57

%

95,100

0.66

2,020

Yanacocha Underground (13)

51.35

%

7,000

6.20

1,390

7,000

6.20

1,390

97

%

7,000

6.20

1,390

Total Yanacocha, Peru (26)

16,500

0.66

350

75,200

1.19

2,880

91,700

1.10

3,230

74

%

102,100

1.04

3,410

Merian, Suriname (14)

75

%

47,100

1.36

2,050

54,500

1.11

1,950

101,600

1.22

4,000

93

%

107,500

1.15

3,970

Cerro Negro, Argentina (15)

100

%

1,800

8.93

500

7,200

8.88

2,060

9,000

8.89

2,560

94

%

9,000

8.90

2,570

Pueblo Viejo Open Pits

40

%

5,000

2.20

350

8,200

2.33

620

13,200

2.28

970

89

%

19,600

2.34

1,470

Pueblo Viejo Stockpiles (10)

40

%

37,400

2.20

2,640

37,400

2.20

2,640

89

%

35,800

2.30

2,640

Total Pueblo Viejo, Dominican Republic (16)

5,000

2.20

350

45,600

2.22

3,260

50,600

2.22

3,610

89

%

55,400

2.31

4,110

NuevaUnión, Chile (17)

50

%

341,100

0.47

5,110

341,100

0.47

5,110

66

%

341,100

0.47

5,110

Norte Abierto, Chile (18)

50

%

598,800

0.60

11,620

598,800

0.60

11,620

74

%

598,800

0.60

11,620

TOTAL SOUTH AMERICA

70,400

1.44

3,250

1,122,400

0.75

26,880

1,192,800

0.79

30,130

78

%

1,213,900

0.79

30,790

Australia

Boddington Open Pit

100

%

237,400

0.70

5,360

239,100

0.66

5,080

476,500

0.68

10,440

86

%

534,700

0.67

11,490

Boddington Stockpiles (16)

100

%

2,700

0.68

60

79,100

0.43

1,090

81,800

0.44

1,150

79

%

86,400

0.43

1,200

Total Boddington, Western Australia (19)

240,100

0.70

5,420

318,200

0.60

6,170

558,300

0.65

11,590

85

%

621,100

0.64

12,690

Tanami, Northern Territory (20)

100

%

12,700

4.97

2,040

22,100

5.25

3,740

34,800

5.15

5,780

98

%

36,200

5.05

5,870

TOTAL AUSTRALIA

252,800

0.92

7,460

340,300

0.91

9,910

593,100

0.91

17,370

89

%

657,300

0.88

18,560

Africa

Ahafo South Open Pits (21)

100

%

11,800

2.35

890

39,700

1.67

2,140

51,500

1.83

3,030

95

%

50,000

1.90

3,050

Ahafo South Underground (22)

100

%

9,400

3.76

1,140

12,700

2.68

1,100

22,100

3.14

2,240

94

%

17,100

3.53

1,940

Ahafo South Stockpiles (10)

100

%

28,300

0.92

830

28,300

0.92

830

89

%

36,200

0.92

1,070

Total Ahafo South, Ghana

49,500

1.80

2,860

52,400

1.92

3,240

101,900

1.86

6,100

94

%

103,300

1.82

6,060

Ahafo North, Ghana (23)

100

%

46,300

2.40

3,570

46,300

2.40

3,570

91

%

45,100

2.40

3,480

Akyem Open Pit (24)

100

%

15,800

1.61

810

10,900

1.89

660

26,700

1.72

1,470

92

%

34,200

1.70

1,870

Akyem Stockpiles (10)

100

%

13,900

0.78

350

13,900

0.78

350

91

%

15,100

0.82

400

Total Akyem, Ghana

29,700

1.22

1,160

10,900

1.89

660

40,600

1.40

1,820

91

%

49,300

1.43

2,270

TOTAL AFRICA

79,200

1.58

4,020

109,600

2.12

7,470

188,800

1.89

11,490

92

%

197,700

1.86

11,810

Nevada

NGM Open Pits

38.5

%

10,000

1.86

600

119,500

1.21

4,650

129,500

1.26

5,250

70

%

134,300

1.26

5,440

NGM Stockpiles (10)

38.5

%

14,300

2.03

940

14,900

1,250

29,200

2.33

2,190

68

%

33,300

2.36

2,530

NGM Underground

38.5

%

13,600

9.95

4,340

28,000

8.39

7,560

41,600

8.90

11,900

88

%

29,700

9.85

9,420

TOTAL NEVADA (25)

37,900

4.82

5,880

162,400

2.58

13,460

200,300

3.00

19,340

81

%

197,300

2.74

17,390

TOTAL NEWMONT

639,200

1.24

25,510

2,078,600

1.01

67,330

2,717,800

1.06

92,840

81

%

2,856,200

1.03

94,240

(1)

See cautionary statement regarding reserves and resources. 2021 and 2020 reserves were estimated at a gold price of $1,200 per ounce unless otherwise noted.

(2)

Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to the nearest 100,000.

(3)

Ounces are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Ounces may not recalculate as they are rounded to the nearest 10,000.

(4)

Cut-off grades utilized in 2021 reserves were as follows: oxide mill material not less than 1.32 gram per tonne and leach material not less than 0.10 gram per tonne.

(5)

Leach pad material is the material on leach pads at the end of the year from which gold remains to be recovered. In-process reserves are reported separately where ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.

(6)

Cut-off grade utilized in 2021 reserves not less than 3.10 gram per tonne.

(7)

Cut-off grade utilized in 2021 reserves not less than 4.00 gram per tonne.

(8)

Cut-off grade utilized in 2021 reserves not less than 0.44 gram per tonne.

(9)

Cut-off grade utilized in 2021 reserves not less than 4.30 gram per tonne.

(10)

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 ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.

(11)

Gold cut-off grade varies with level of silver, lead and zinc credits.

(12)

Gold cut-off grades utilized in 2021 reserves were as follows: oxide leach material not less than 0.07 gram per tonne and refractory mill material not less than 1.45 gram per tonne.

(13)

Gold cut-off grades utilized in 2021 reserves were as follows: oxide mill material not less than 2.10 gram per tonne and refractory mill material varies with level of copper and silver credits.

(14)

Cut-off grade utilized in 2021 reserves not less than 0.33 gram per tonne.

(15)

Cut-off grade utilized in 2021 reserves not less than 5.00 gram per tonne.

(16)

The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.

(17)

Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.

(18)

Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture

(19)

Gold cut-off grade varies with level of copper credits.

(20)

Cut-off grade utilized in 2021 reserves not less than 2.20 gram per tonne.

(21)

Cut-off grade utilized in 2021 reserves not less than 0.46 gram per tonne.

(22)

Cut-off grade utilized in 2021 reserves not less than 2.40 gram per tonne.

(23)

Cut-off grade utilized in 2021 reserves not less than 0.57 gram per tonne.

(24)

Cut-off grade utilized in 2021 reserves not less than 0.56 gram per tonne.

(25)

Reserve estimates provided by Barrick, the operator of the NGM joint venture.

(26)

In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura's 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Gold Mineral Resources (1)(2) - December 31, 2021

Measured Resource

Indicated Resource

Measured and Indicated Resource (3)

Inferred Resource

Newmont

Tonnage

Grade

Gold

Tonnage

Grade

Gold

Tonnage

Grade

Gold

Tonnage

Grade

Gold

Deposits/Districts

Share

(000
tonnes)

(g/tonne)

Ounces
(000)

(000
tonnes)

(g/tonne)

Ounces
(000)

(000
tonnes)

(g/tonne)

Ounces
(000)

(000
tonnes)

(g/tonne)

Ounces
(000)

Metallurgical
Recovery

North America

CC&V,Colorado

100

%

54,000

0.41

700

24,100

0.38

300

78,100

0.40

1,000

12,700

0.39

160

62

%

Musselwhite, Canada

100

%

1,400

3.58

160

2,300

3.55

270

3,700

3.56

430

3,200

4.22

440

96

%

Porcupine Underground

100

%

300

5.25

50

900

6.12

180

1,200

5.92

230

1,100

6.43

220

92

%

Porcupine Open Pit

100

%

500

0.49

10

83,200

1.40

3,750

83,700

1.40

3,760

77,000

1.24

3,070

92

%

Total Porcupine, Canada

800

2.33

60

84,100

1.45

3,930

84,900

1.46

3,990

78,100

1.31

3,290

92

%

Éléonore, Canada

100

%

300

5.72

50

1,700

4.73

260

2,000

4.86

310

3,800

5.28

650

91

%

Peñasquito, Mexico

100

%

31,400

0.27

280

176,600

0.27

1,500

208,000

0.27

1,780

89,800

0.40

1,160

69

%

Noche Buena, Mexico

50

%

21,000

0.37

250

21,000

0.37

250

1,600

0.21

10

50

%

Coffee, Canada

100

%

1,000

2.01

60

54,500

1.19

2,080

55,500

1.20

2,140

6,800

1.07

230

80

%

Galore Creek, Canada (3)

50

%

128,400

0.36

1,500

423,400

0.23

3,130

551,800

0.26

4,630

99,100

0.21

670

73

%

TOTAL NORTH AMERICA

217,300

0.40

2,810

787,700

0.46

11,720

1,005,000

0.45

14,530

295,100

0.70

6,610

79

%

South America

Conga, Peru

51.35

%

356,300

0.65

7,490

356,300

0.65

7,490

118,400

0.39

1,480

75

%

Yanacocha Open Pit

51.35

%

5,500

0.42

70

52,400

0.46

770

57,900

0.46

840

96,700

0.80

2,470

66

%

Yanacocha Underground

51.35

%

6.29

10

1,800

6.28

370

1,800

6.28

380

1,900

4.93

300

97

%

Total Yanacocha, Peru (9)

5,500

0.45

80

54,200

0.65

1,140

59,700

0.64

1,220

98,600

0.87

2,770

70

%

Merian, Suriname

75

%

4,500

0.94

140

32,600

1.14

1,200

37,100

1.12

1,340

28,500

1.01

920

88

%

Cerro Negro Underground

100

%

100

5.48

20

1,300

7.38

300

1,400

7.25

320

7,500

6.85

1,650

93

%

Cerro Negro Open Pit

100

%

900

4.40

120

1,000

4.09

130

1,900

4.24

250

100

3.49

10

90

%

Total Cerro Negro, Argentina

100

%

1,000

4.51

140

2,300

5.96

430

3,300

5.52

570

7,600

6.82

1,660

93

%

Pueblo Viejo, Dominican Republic (4)

40

%

37,300

2.01

2,410

57,100

1.89

3,470

94,400

1.94

5,880

25,400

1.72

1,410

89

%

NuevaUnión, Chile (5)

50

%

4,800

0.47

70

118,300

0.59

2,260

123,100

0.59

2,330

239,800

0.40

3,050

68

%

Norte Abierto, Chile (6)

50

%

77,200

0.61

1,510

596,900

0.49

9,320

674,100

0.50

10,830

369,600

0.37

4,360

76

%

Agua Rica, Argentina (7)

18.75

%

141,900

0.25

1,150

137,400

0.15

650

279,300

0.20

1,800

139,900

0.09

410

35

%

TOTAL SOUTH AMERICA

272,200

0.63

5,500

1,355,100

0.60

25,960

1,627,300

0.60

31,460

1,027,800

0.49

16,060

73

%

Australia

Boddington, Western Australia

100

%

96,200

0.53

1,640

180,500

0.54

3,110

276,700

0.53

4,750

3,300

0.50

50

84

%

Tanami Open Pit

100

%

10,200

1.88

620

16,600

1.69

900

26,800

1.76

1,520

2,900

1.62

150

90

%

Tanami Underground

100

%

1,400

3.11

140

4,900

4.25

660

6,300

4.00

800

9,600

5.39

1,670

97

%

Total Tanami, Northern Territory

100

%

11,600

2.03

760

21,500

2.27

1,560

33,100

2.18

2,320

12,500

4.53

1,820

97

%

TOTAL AUSTRALIA

107,800

0.69

2,400

202,000

0.72

4,670

309,800

0.71

7,070

15,800

3.68

1,870

89

%

Africa

Ahafo South

100

%

500

0.56

10

30,000

1.16

1,120

30,500

1.15

1,130

13,500

1.33

570

93

%

Ahafo Underground

100

%

16,600

3.99

2,120

16,600

3.99

2,120

10,800

3.34

1,160

90

%

Total Ahafo South, Ghana

500

0.56

10

46,600

2.16

3,240

47,100

2.15

3,250

24,300

2.21

1,730

91

%

Ahafo North Open Pits, Ghana

100

%

2,800

1.21

100

10,400

1.90

630

13,200

1.76

730

9,800

1.60

500

92

%

Akyem Open Pits

100

%

900

0.57

20

1,100

0.67

20

2,000

0.62

40

1,300

1.43

60

91

%

Akyem Underground

100

%

6,800

3.69

810

6,800

3.69

810

5,400

2.97

520

93

%

Total Akyem, Ghana

900

0.57

20

7,900

3.27

830

8,800

3.00

850

6,700

2.69

580

92

%

TOTAL AFRICA

4,200

1.01

130

64,900

2.26

4,700

69,100

2.18

4,830

40,800

2.15

2,810

91

%

Nevada

NGM Open Pits and Stockpiles

38.5

%

18,300

1.89

1,110

181,100

0.90

5,230

199,400

0.99

6,340

101,100

0.82

2,670

67

%

NGM Underground

38.5

%

8,500

5.89

1,610

11,900

6.35

2,430

20,400

6.16

4,040

15,300

6.48

3,180

86

%

Total NGM (8)

26,800

3.17

2,720

193,000

1.23

7,660

219,800

1.47

10,380

116,400

1.56

5,850

76

%

TOTAL NEVADA

26,800

3.17

2,720

193,000

1.23

7,660

219,800

1.47

10,380

116,400

1.56

5,850

76

%

TOTAL NEWMONT

628,300

0.67

13,560

2,602,700

0.65

54,710

3,231,000

0.66

68,270

1,495,900

0.69

33,200

76

%

(1)

Resources are reported exclusive of reserves.

(2)

Resources are estimated at a gold price of $1,400 per ounce for 2021 and 2020. Tonnage amounts have been rounded to the nearest 100,000. Ounces may not recalculate as they have been rounded to the nearest 10,000.

(3)

Project is currently undeveloped. Resource estimates provided by Teck Resources.

(4)

Resource estimates provided by Barrick, the operator of Pueblo Viejo.

(5)

Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.

(6)

Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.

(7)

Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.

(8)

Resource estimates provided by Barrick, the operator of the NGM joint venture.

(9)

In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura's 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Copper Reserves (1)

December 31, 2021

December 31, 2020

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Newmont

Tonnage (2)

Grade

Copper (3)

Tonnage (2)

Grade

Copper (3)

Tonnage (2)

Grade

Copper (3)

Metallurgical

Tonnage (2)

Grade

Copper (3)

Deposits/Districts

Share

(000
tonnes)

(Cu %)

Pounds
(millions)

(000
tonnes)

(Cu %)

Pounds
(millions)

(000
tonnes)

(Cu %)

Pounds
(millions)

Recovery

(000
tonnes)

(Cu %)

Pounds
(millions)

South America

Yanacocha Open Pits and Underground, Peru (4)(10)

51.35

%

57,700

0.61

%

780

57,700

0.61

%

780

84

%

57,700

0.62

%

790

NuevaUnión, Chile (5)

50

%

1,118,000

0.40

%

9,800

1,118,000

0.40

%

9,800

88

%

1,118,000

0.40

%

9,800

Norte Abierto, Chile (6)

50

%

598,800

0.22

%

2,890

598,800

0.22

%

2,890

87

%

598,800

0.22

%

2,890

TOTAL SOUTH AMERICA

1,774,500

0.34

%

13,470

1,774,500

0.34

%

13,470

87

%

1,774,500

0.34

%

13,480

Australia

Boddington Open Pit, Western Australia (7)

100

%

237,400

0.10

%

540

239,100

0.11

%

590

476,500

0.11

%

1,130

82

%

534,700

0.11

%

1,260

Boddington Stockpiles, Western Australia (8)

100

%

2,600

0.09

%

10

79,100

0.09

%

150

81,700

0.09

%

160

77

%

86,400

0.09

%

160

TOTAL AUSTRALIA

240,000

0.10

%

550

318,200

0.11

%

740

558,200

0.11

%

1,290

82

%

621,100

0.10

%

1,420

Nevada

NGM, Nevada (9)

38.5

%

6,900

0.17

%

30

80,200

0.17

%

300

87,100

0.17

%

330

65

%

82,600

0.18

%

320

TOTAL NEVADA

6,900

0.17

%

30

80,200

0.17

%

300

87,100

0.17

%

330

65

%

82,600

0.18

%

320

TOTAL NEWMONT

246,900

0.11

%

580

2,172,900

0.30

%

14,510

2,419,800

0.28

%

15,090

87

%

2,478,200

0.28

%

15,220

(1)

See footnote (1) to the Gold Reserves table above. Copper reserves for 2021 and 2020 were estimated at a copper price of $2.75 per pound.

(2)

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

Pounds are estimates of metal contained in ore tonnages and do not include allowances for processing losses. Metallurgical recovery rates represent the estimated amount of metal to be recovered through metallurgical extraction processes. Pounds may not recalculate as they are rounded to the nearest 10 million.

(4)

Reserve estimates relate to the undeveloped Yanacocha Sulfide project. Copper cut-off grade varies with level of gold and silver credits.

(5)

Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.

(6)

Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.

(7)

Copper cut-off grade varies with level of gold credits.

(8)

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. Stockpiles are reported separately where pounds exceed 100 million and are greater than 5% of the total site reported reserves.

(9)

Reserve estimates provided by Barrick, the operator of the NGM joint venture.

(10)

In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura's 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Copper Mineral Resources (1)(2) - December 31, 2021

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Newmont

Tonnage

Grade

Copper

Tonnage

Grade

Copper

Tonnage

Grade

Copper

Tonnage

Grade

Copper

Deposits/Districts

Share

(000
tonnes)

(Cu %)

Pounds
(millions)

(000
tonnes)

(Cu %)

Pounds
(millions)

(000
tonnes)

(Cu %)

Pounds
(millions)

(000
tonnes)

(Cu %)

Pounds
(millions)

Metallurgical
Recovery

North America

Galore Creek, Canada (3)

50

%

128,400

0.72

%

2,030

423,400

0.39

%

3,630

551,800

0.47

%

5,660

99,100

0.27

%

600

91

%

TOTAL NORTH AMERICA

128,400

0.72

%

2,030

423,400

0.39

%

3,630

551,800

0.47

%

5,660

99,100

0.27

%

600

91

%

South America

Conga, Peru

51.35

%

%

356,300

0.26

%

2,040

356,300

0.26

%

2,040

118,400

0.19

%

490

84

%

Yanacocha Open Pits and Stockpiles

51.35

%

%

48,600

0.39

%

420

48,600

0.39

%

420

18,700

0.39

%

160

80

%

Yanacocha Underground

51.35

%

%

1,800

0.09

%

1,800

0.09

%

1,900

0.13

%

10

96

%

Total Yanacocha, Peru (8)

%

50,400

0.38

%

420

50,400

0.38

%

420

20,600

0.37

%

170

81

%

NuevaUnión, Chile (4)

50

%

164,300

0.19

%

700

349,900

0.34

%

2,650

514,200

0.30

%

3,350

602,100

0.39

%

5,150

89

%

Norte Abierto, Chile (5)

50

%

57,600

0.24

%

310

551,200

0.19

%

2,340

608,800

0.20

%

2,650

361,700

0.18

%

1,450

90

%

Agua Rica, Argentina (6)

18.75

%

141,900

0.51

%

1,580

137,400

0.36

%

1,100

279,300

0.43

%

2,680

139,900

0.23

%

710

86

%

TOTAL SOUTH AMERICA

363,800

0.32

%

2,590

1,445,200

0.27

%

8,550

1,809,000

0.28

%

11,140

1,242,700

0.29

%

7,970

87

%

Australia

Boddington, Western Australia

100

%

96,200

0.11

%

220

180,500

0.11

%

450

276,700

0.11

%

670

3,300

0.09

%

10

82

%

TOTAL AUSTRALIA

96,200

0.11

%

220

180,500

0.11

%

450

276,700

0.11

%

670

3,300

0.09

%

10

82

%

Nevada

NGM, Nevada (7)

38.5

%

3,100

0.14

%

10

111,500

0.14

%

340

114,600

0.14

%

350

19,900

0.13

%

60

66

%

TOTAL NEVADA

3,100

0.14

%

10

111,500

0.14

%

340

114,600

0.14

%

350

19,900

0.13

%

60

66

%

TOTAL NEWMONT

591,500

0.37

%

4,850

2,160,600

0.27

%

12,970

2,752,100

0.29

%

17,820

1,365,000

0.29

%

8,640

88

%

(1)

Resources are reported exclusive of reserves.

(2)

Resources for 2021 and 2020 were estimated at a copper price of $3.25 per pound. Tonnage amounts have been rounded to the nearest 100,000.

(3)

Project is currently undeveloped. Resource estimates provided by Teck Resources.

(4)

Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.

(5)

Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.

(6)

Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.

(7)

Resource estimates provided by Barrick, the operator of the NGM joint venture.

(8)

In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura's 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Proven, Probable and Combined Silver Reserves (1)

December 31, 2021

December 31, 2020

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Tonnage (2)

Grade

Silver (3)

Tonnage (2)

Grade

Silver (3)

Tonnage (2)

Grade

Silver (3)

Tonnage (2)

Grade

Silver (3)

Deposits/Districts

Newmont Share

(000
tonnes)

(g/tonne)

Ounces
(000)

(000
tonnes)

(g/tonne)

Ounces
(000)

(000
tonnes)

(g/tonne)

Ounces
(000)

Metallurgical
Recovery (3)

(000
tonnes)

(g/tonne)

Ounces
(000)

North America

Peñasquito Open Pits, Mexico (4)

100

%

107,200

38.79

133,650

219,100

32.75

230,760

326,300

34.73

364,410

87

%

348,200

35.10

392,890

Peñasquito Stockpiles, Mexico (5)

100

%

7,800

31.10

7,810

27,900

24.15

21,670

35,700

25.67

29,480

87

%

39,600

25.81

32,860

TOTAL NORTH AMERICA

115,000

38.26

141,460

247,000

31.78

252,430

362,000

33.84

393,890

87

%

387,800

34.15

425,750

South America

Yanacocha Open Pits and Underground (6)

51.35

%

1,200

7.57

280

48,900

19.08

30,000

50,100

18.80

30,280

55

%

55,700

17.82

31,910

Yanacocha Stockpiles (5)

51.35

%

1,400

31.48

1,450

1,400

31.48

1,450

75

%

2,700

36.02

3,120

Yanacocha Leach Pads (7)

51.35

%

47,300

8.16

12,400

47,300

8.16

12,400

5

%

55,400

8.18

14,560

Total Yanacocha, Peru (13)

2,600

20.81

1,730

96,200

13.85

42,400

98,800

13.85

44,130

42

%

113,800

13.85

49,590

Cerro Negro, Argentina (8)

100

%

1,700

71.26

4,010

7,200

54.16

12,540

8,900

57.51

16,550

76

%

9,000

70.75

20,420

Pueblo Viejo, Dominican Republic (9)

40

%

5,000

11.18

1,790

45,600

14.85

21,790

50,600

14.49

23,580

77

%

55,400

15.16

26,990

NuevaUnión, Chile (10)

50

%

1,118,000

1.31

47,170

1,118,000

1.31

47,170

66

%

1,118,000

1.31

47,170

Norte Abierto, Chile (11)

50

%

598,800

1.52

29,340

598,800

1.52

29,340

74

%

598,800

1.52

29,340

TOTAL SOUTH AMERICA

9,300

25.14

7,530

1,865,800

2.56

153,240

1,875,100

2.67

160,770

63

%

1,895,000

2.85

173,510

Nevada

NGM, Nevada (12)

38.5

%

5,200

7.40

1,230

60,000

6.35

12,250

65,200

6.43

13,480

38

%

59,800

6.99

13,430

TOTAL NEVADA

5,200

7.40

1,230

60,000

6.35

12,250

65,200

6.43

13,480

38

%

59,800

6.99

13,430

TOTAL NEWMONT

129,500

36.08

150,220

2,172,800

5.98

417,920

2,302,300

7.68

568,140

74

%

2,342,600

8.14

612,690

(1)

See footnote (1) to the Gold Reserves table above. Silver reserves for 2021 and 2020 were estimated at a silver price of $20 and $17 per ounce, respectively.

(2)

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

See footnote (3) to the Gold Reserves table above. Ounces may not recalculate as they are rounded to the nearest 10,000.

(4)

Silver cut-off grade varies with gold, lead and zinc credits.

(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 ounces exceed 100,000 and are greater than 5% of the total site-reported reserves.

(6)

Silver cut-off grade varies with gold and copper credits.

(7)

Leach Pad material is the material on leach pads at the end of the year from which silver remains to be recovered. In-process material reserves are reported separately where tonnage or ounces are greater than 5% of the total site-reported reserves and ounces are greater than 100,000.

(8)

Silver cut-off grade varies with gold credits.

(9)

The Pueblo Viejo mine, which is 40% owned by Newmont, is accounted for as an equity method investment. Reserve estimates provided by Barrick, the operator of Pueblo Viejo.

(10)

Project is currently undeveloped. Reserve estimates provided by the NuevaUnión joint venture.

(11)

Project is currently undeveloped. Reserve estimates provided by the Norte Abierto joint venture.

(12)

Reserve estimates provided by Barrick, the operator of the NGM joint venture.

(13)

In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura's 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Silver Mineral Resources (1)(2) - December 31, 2021

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Newmont

Tonnage

Grade

Silver

Tonnage

Grade

Silver

Tonnage

Grade

Silver

Tonnage

Grade

Silver

Deposits/Districts

Share

(000
tonnes)

(g/tonne)

Ounces
(000)

(000
tonnes)

(g/tonne)

Ounces
(000)

(000
tonnes)

(g/tonne)

Ounces
(000)

(000
tonnes)

(g/tonne)

Ounces
(000)

Metallurgical
Recovery

North America

Peñasquito, Mexico

100

%

31,400

25.71

25,990

176,600

26.36

149,620

208,000

26.26

175,610

89,800

28.00

80,840

87

%

Noche Buena, Mexico

50

%

0.00

21,000

13.94

9,400

21,000

13.94

9,400

1,600

11.08

570

25

%

Galore Creek, Canada (3)

50

%

128,400

5.79

23,900

423,400

3.75

51,030

551,800

4.22

74,930

99,100

2.65

8,440

64

%

TOTAL NORTH AMERICA

159,800

9.71

49,890

621,000

10.52

210,050

780,800

10.35

259,940

190,500

14.67

89,850

75

%

South America

Conga, Peru

51.35

%

0.00

356,300

2.06

23,580

356,300

2.06

23,580

89,900

1.13

3,250

70

%

Yanacocha Open Pits and Stockpiles

51.35

%

4,600

3.31

490

44,600

13.09

18,750

49,200

12.17

19,240

14,400

13.09

6,070

43

%

Yanacocha Underground

51.35

%

1.13

1,800

64.29

3,760

1,800

62.68

3,760

1,900

37.56

2,260

87

%

Total Yanacocha, Peru (9)

4,600

3.31

490

46,400

15.09

22,510

51,000

14.03

23,000

16,300

15.90

8,330

55

%

Cerro Negro Underground

100

%

100

46.22

140

1,300

57.30

2,360

1,400

56.55

2,500

7,500

39.04

9,400

75

%

Cerro Negro Open Pit

100

%

900

8.53

240

1,000

7.87

250

1,900

8.18

490

100

11.07

20

60

%

Total Cerro Negro, Argentina

1,000

12.15

380

2,300

35.92

2,610

3,300

28.76

2,990

7,600

38.80

9,420

74

%

Pueblo Viejo, Dominican Republic (4)

40

%

37,300

11.51

13,800

57,100

10.85

19,940

94,400

11.11

33,740

25,400

9.00

7,360

NuevaUnión, Chile (5)

50

%

164,300

0.96

5,080

349,800

1.19

13,360

514,100

1.12

18,440

602,100

1.16

22,520

66

%

Norte Abierto, Chile (6)

50

%

77,200

1.20

2,990

596,900

1.07

20,550

674,100

1.09

23,540

369,600

0.95

11,340

78

%

Agua Rica, Argentina (7)

18.75

%

120,200

2.90

11,190

135,700

2.41

10,520

255,900

2.64

21,710

139,300

1.62

7,260

43

%

TOTAL SOUTH AMERICA

404,600

2.61

33,930

1,544,500

2.28

113,070

1,949,100

2.35

147,000

1,250,200

1.73

69,480

61

%

Nevada

NGM, Nevada (8)

38.5

%

2,900

5.57

520

84,000

5.54

14,960

86,900

5.54

15,480

18,900

5.60

3,410

38

%

TOTAL NEVADA

2,900

5.57

520

84,000

5.54

14,960

86,900

5.54

15,480

18,900

5.60

3,410

38

%

TOTAL NEWMONT

567,300

4.62

84,340

2,249,500

4.68

338,080

2,816,800

4.66

422,420

1,459,600

3.47

162,740

66

%

(1)

Resources are reported exclusive of reserves.

(2)

Resource for 2021 and 2020 were estimated at a silver price of $23 and $20 per ounce, respectively. Tonnage amounts have been rounded to the nearest 100,000.

(3)

Project is currently undeveloped. Resource estimates provided by Teck Resources.

(4)

Resource estimates provided by Barrick, the operator of Pueblo Viejo.

(5)

Project is currently undeveloped. Resource estimates provided by the NuevaUnión joint venture.

(6)

Project is currently undeveloped. Resource estimates provided by the Norte Abierto joint venture.

(7)

Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.

(8)

Resource estimates provided by Barrick, the operator of the NGM joint venture.

(9)

In February 2022, the Company increased its ownership interest in Yanacocha to 95% by acquiring Buenaventura's 43.65% noncontrolling interest. See Note 1 of the Consolidated Financial Statements for further information.

Attributable Zinc Reserves (1)

December 31, 2021

December 31, 2020

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Newmont

Tonnage (2)

Grade

Zinc (3)

Tonnage (2)

Grade

Zinc (3)

Tonnage (2)

Grade

Zinc (3)

Metallurgical

Tonnage (2)

Grade

Zinc (3)

Deposits/Districts

Share

(000
tonnes)

(Zn %)

Pounds
(millions)

(000
tonnes)

(Zn %)

Pounds
(millions)

(000
tonnes)

(Zn %)

Pounds
(millions)

Recovery

(000
tonnes)

(Zn %)

Pounds
(millions)

North America

Peñasquito Open Pits, Mexico (4)

100

%

107,200

0.96

%

2,260

219,100

0.74

%

3,590

326,300

0.81

%

5,850

81

%

348,200

0.83

%

6,380

Peñasquito Stockpiles, Mexico (5)

100

%

7,800

0.67

%

120

27,900

0.45

%

280

35,700

0.50

%

400

81

%

39,600

0.49

%

430

TOTAL NEWMONT

115,000

0.94

%

2,380

247,000

0.71

%

3,870

362,000

0.78

%

6,250

81

%

387,800

0.80

%

6,810

(1)

See footnote (1) to the Gold Reserves table above. Zinc reserves for 2021 and 2020 were estimated at a zinc price of $1.15 per pound.

(2)

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

See footnote (3) to the Copper Reserves table above. Pounds may not recalculate as they are rounded to the nearest 10 million.

(4)

Zinc cut-off grade varies with level of gold, silver and zinc credits.

(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 tonnes exceed 10,000 and are greater than 5% of the total site-reported reserves.

Attributable Zinc Resources (1)(2) - December 31, 2021

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Newmont

Tonnage

Grade

Zinc

Tonnage

Grade

Zinc

Tonnage

Grade

Zinc

Tonnage

Grade

Zinc

Deposits/Districts

Share

(000
tonnes)

(Zn %)

Pounds
(millions)

(000
tonnes)

(Zn %)

Pounds
(millions)

(000
tonnes)

(Zn %)

Pounds
(millions)

(000
tonnes)

(Zn %)

Pounds
(millions)

Metallurgical
Recovery

North America

Peñasquito, Mexico

100

%

31,400

0.66

%

460

176,600

0.57

%

2,230

208,000

0.59

%

2,690

89,800

0.54

%

1,070

81

%

TOTAL NEWMONT

31,400

0.66

%

460

176,600

0.57

%

2,230

208,000

0.59

%

2,690

89,800

0.54

%

1,070

81

%

(1)

Resources are reported exclusive of reserves.

(2)

Resources for 2021 and 2020 were estimated at a zinc price of $1.40 per pound. Tonnage amounts have been rounded to the nearest 100,000.

Attributable Lead Reserves (1)

December 31, 2021

December 31, 2020

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Newmont

Tonnage (2)

Grade

Lead (3)

Tonnage (2)

Grade

Lead (3)

Tonnage (2)

Grade

Lead (3)

Metallurgical

Tonnage (2)

Grade

Lead (3)

Deposits/Districts

Share

(000
tonnes)

(Pb %)

Pounds
(millions)

(000
tonnes)

(Pb %)

Pounds
(millions)

(000
tonnes)

(Pb %)

Pounds
(millions)

Recovery

(000
tonnes)

(Pb %)

Pounds
(millions)

North America

Peñasquito Open Pits, Mexico (4)

100

%

107,200

0.37

%

880

219,100

0.30

%

1,440

326,300

0.32

%

2,320

73

%

348,200

0.34

%

2,650

Peñasquito Stockpiles, Mexico (5)

100

%

7,800

0.34

%

60

27,900

0.32

%

200

35,700

0.33

%

260

73

%

39,600

0.33

%

290

TOTAL NEWMONT

115,000

0.37

%

940

247,000

0.30

%

1,640

362,000

0.32

%

2,580

73

%

387,800

0.34

%

2,940

(1)

See footnote (1) to the Gold Reserves table above. Lead reserves for 2021 and 2020 were estimated at a lead price of $0.90 per pound.

(2)

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

See footnote (3) to the Copper Reserves table above. Pounds may not recalculate as they are rounded to the nearest 10 million.

(4)

Lead cut-off grade varies with level of gold, silver and zinc credits.

(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 tonnes exceed 10,000 and are greater than 5% of the total site-reported reserves.

Attributable Lead Resources (1)(2) - December 31, 2021

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Newmont

Tonnage

Grade

Lead

Tonnage

Grade

Lead

Tonnage

Grade

Lead

Tonnage

Grade

Lead

Deposits/Districts

Share

(000
tonnes)

(Pb %)

Pounds
(millions)

(000
tonnes)

(Pb %)

Pounds
(millions)

(000
tonnes)

(Pb %)

Pounds
(millions)

(000
tonnes)

(Pb %)

Pounds
(millions)

Metallurgical
Recovery

North America

Peñasquito, Mexico

100

%

31,400

0.29

%

200

176,600

0.26

%

1,020

208,000

0.27

%

1,230

89,800

0.24

%

480

73

%

TOTAL NEWMONT

31,400

0.29

%

200

176,600

0.26

%

1,020

208,000

0.27

%

1,230

89,800

0.24

%

480

73

%

(1)

Resources are reported exclusive of reserves.

(2)

Resources for 2021 and 2020 were estimated at a lead price of $1.10 per pound. Tonnage amounts have been rounded to the nearest 100,000.

Attributable Molybdenum Reserves (1)

December 31, 2021

December 31, 2020

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Newmont

Tonnage (2)

Grade

Molybdenum (3)

Tonnage (2)

Grade

Molybdenum (3)

Tonnage (2)

Grade

Molybdenum (3)

Metallurgical

Tonnage (2)

Grade

Molybdenum (3)

Deposits/Districts

Share

(000
tonnes)

(Mo %)

Pounds
(millions)

(000
tonnes)

(Mo %)

Pounds
(millions)

(000
tonnes)

(Mo %)

Pounds
(millions)

Recovery

(000
tonnes)

(Mo %)

Pounds
(millions)

South America

NuevaUnión, Chile (4)

50.00

%

%

776,900

0.02

%

270

776,900

0.02

%

270

48

%

776,900

0.02

%

270

TOTAL NEWMONT

%

776,900

0.02

%

270

776,900

0.02

%

270

48

%

776,900

0.02

%

270

(1)

See footnote (1) to the Gold Reserves table above. Molybdenum reserves were estimated based on a molybdenum price set by NuevaUnión joint venture.

(2)

See footnote (2) to the Gold Reserves table above. Tonnages are rounded to nearest 100,000.

(3)

See footnote (3) to the Copper Reserves table above. Pounds may not recalculate as they are rounded to the nearest 10 million.

(4)

Project is currently undeveloped. Resource estimates provided by NuevaUnión joint venture.

Attributable Molybdenum Resources (1)(2) - December 31, 2021

Measured Resource

Indicated Resource

Measured and
Indicated Resource

Inferred Resource

Newmont

Tonnage

Grade

Molybdenum

Tonnage

Grade

Molybdenum

Tonnage

Grade

Molybdenum

Tonnage

Grade

Molybdenum

Deposits/Districts

Share

(000
tonnes)

(Mo %)

Pounds
(millions)

(000
tonnes)

(Mo %)

Pounds
(millions)

(000
tonnes)

(Mo %)

Pounds
(millions)

(000
tonnes)

(Mo %)

Pounds
(millions)

Metallurgical
Recovery

South America

NuevaUnión, Chile (3)

50

%

159,500

0.01

%

20

231,500

0.01

%

40

391,000

0.01

%

60

362,300

0.01

%

100

52

%

Agua Rica, Argentina (4)

18.75

%

141,900

0.03

%

80

137,400

0.03

%

90

279,300

0.03

%

170

139,900

0.03

%

90

44

%

TOTAL NEWMONT

301,400

0.02

%

100

368,900

0.02

%

130

670,300

0.02

%

230

502,200

0.02

%

190

46

%

(1)

Resources are reported exclusive of reserves.

(2)

Resources for NuevaUnión and Agua Rica are estimated based on a molybdenum price set by NuevaUnión joint venture and Yamana, respectively. Tonnage amounts have been rounded to the nearest 100,000.

(3)

Project is currently undeveloped. Resource estimates provided by NuevaUnión joint venture.

(4)

Resource estimates provided by Yamana, the operator of the Agua Rica joint venture.

Cautionary Statement Regarding Reserve and Resource Estimates:

The reserves stated in this report represent estimates at December 31, 2021, which could be economically and legally extracted or produced at the time of the reserve determination. Estimates of proven and probable reserves are subject to considerable uncertainty. Such estimates are, or will be, to a large extent, based on the prices of gold, silver, copper, zinc and lead and interpretations of geologic data obtained from drill holes and other exploration techniques, which data may not necessarily be indicative of future results. If our reserve estimations are required to be revised due to significantly lower gold, silver, zinc, copper and lead prices, increases in operating costs, reductions in metallurgical recovery or other modifying factors, this could result in material write-downs of our investment in mining properties, goodwill and increased amortization, reclamation and closure charges. Producers use feasibility studies for undeveloped ore bodies to derive estimates of capital and operating costs based upon anticipated tonnage and grades of ore to be mined and processed, the predicted configuration of the ore body, expected recovery rates of metals from the ore, the costs of comparable facilities, the costs of operating and processing equipment and other factors. Actual operating and capital cost and economic returns on projects may differ significantly from original estimates. Further, it may take many years from the initial phases of exploration until commencement of production, during which time, the economic feasibility of production may change. Additionally, resource does not indicate proven and probable reserves as defined by the SEC or the Company's standards. Estimates of measured, indicated and inferred resource are subject to further exploration and development, and are, therefore, subject to considerable uncertainty. Inferred resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. The Company cannot be certain that any part or parts of the resource will ever be converted into reserves. In addition, if the price of gold, silver, copper, zinc or lead declines from recent levels, if production costs increase, grades decline, recovery rates decrease or if applicable laws and regulations are adversely changed, the indicated level of recovery may not be realized or mineral reserves or resources might not be mined or processed profitably. If we determine that certain of our mineral reserves have become uneconomic, this may ultimately lead to a reduction in our aggregate reported reserves and resources. Consequently, if our actual mineral reserves and resources are less than current estimates, our business, prospects, results of operations and financial position may be materially impaired. For additional information see the "Reserve and Resource Tables" section of this release and Item 2 of the Company's Form 10-K, filed on February 24, 2022, with the SEC.

Cautionary Statement Regarding Forward Looking Statements:

This release may contain "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, estimates and expectations of future production, reserve estimates, exploration outlook and expected expenditure, and operational and financial performance. 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, assumptions and other factors, which could cause actual results to differ materially from future results expressed or implied by the "forward-looking statements". Such assumptions, include, but are not limited to the key assumptions set forth above. Investors are also encouraged to refer to the Company's 2021 Form 10-K, filed on February 24, 2022, with the SEC under the headings "Risk Factors" and "Forward-Looking Statements" for additional information, 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.

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.

Media Contact
Courtney Boone
303.837.5159
courtney.boone@newmont.com

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

News Provided by Business Wire via QuoteMedia

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Canada & US toll-free – (888) 330-2446; Passcode: 4915537
Outside of Canada & US – (240) 789-2732; Passcode: 4915537

Replay (available up to 14 days after the call):

Canada & US toll-free – (800) 770- 2030; Passcode: 4915537
Outside of Canada & US – +1 (647) 362- 9199; Passcode: 4915537

You may also access the conference call on a listen-only basis via webcast at our website www.kinross.com . The audio webcast will be archived on www.kinross.com .

About Kinross Gold Corporation

Kinross is a Canadian-based senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Our focus is on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).

Media Contact
Louie Diaz
Vice-President, Corporate Communications
phone: 416-369-6469
louie.diaz@kinross.com

News Provided by GlobeNewswire via QuoteMedia

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Newmont Reaches Profit Sharing Agreement with Peñasquito Union

Newmont Corporation (NYSE: NEM, TSX: NGT) today announced that it has reached a profit-sharing agreement with its represented workforce at the Company's Peñasquito mine in Zacatecas, Mexico. The agreement supports the continued operation of Peñasquito into the future.

Consistent with other agreements across Mexico, Newmont Peñasquito will pay its represented workforce an uncapped profit-sharing bonus up to 10%, with an immediate cost equivalent of $70 million, which is representative of the payments related to 2021 results.

News Provided by Business Wire via QuoteMedia

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WHEATON PRECIOUS METALS ENTERS INTO AGREEMENT TO TERMINATE ITS EXISTING SILVER STREAM IN THE KENO HILL SILVER DISTRICT

Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is announcing that it has entered into a definitive agreement with Hecla Mining Company ("Hecla") (NYSE: HL) to terminate its silver stream on Alexco Resource Corp.'s ("Alexco") (NYSE American: AXU) (TSX: AXU) Keno Hill Silver District ("Keno Hill") in the Yukon, Canada for US$135 million .

"The termination of the Keno Hill stream further demonstrates our ability to strategically identify opportunities both inside and outside of our portfolio that create value for our shareholders and positions Wheaton to continue to have one of the strongest balance sheets in the industry. While we firmly believe that Keno Hill is a high-quality district with significant exploration potential, given recent announcements, the ability to obtain an immediate return on the termination of the stream was too compelling to ignore," said Randy Smallwood , Wheaton's President and Chief Executive Officer. "We believe Hecla is well positioned to effectively mine Keno Hill and maximize its full potential."

News Provided by Canada Newswire via QuoteMedia

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Medallion Metals

Extensional Drilling Further Expands Mineralisation at Gem

Substantial down dip extensions to large shallow gold deposit

Medallion Metals Limited (ASX:MM8, the Company or Medallion) is pleased to report extensional drilling results down-dip of the Gem deposit within the Kundip Mining Centre (KMC)(Figures 1&2). KMC is host to a JORC 2012 Mineral Resource Estimate (“MRE”) of 1.37Moz AuEq @ 2.60g/t AuEq

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Red River Resources Logo

Red River Hits 257 g/t gold at Hillgrove, NSW

Red River Resources Limited (ASX: RVR) is pleased to report visible gold in drill hole BKC008 from its drilling underway at Bakers Creek, part of its Hillgrove Gold Project in New South Wales. The drilling aims to identify extensional mineralisation at the historic Bakers Creek Mine, which produced 304koz of gold from 176kt of ore from ~1880 - 19161.

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polarX logo

First RC Drilling at Star Canyon hits 9.1m at 124g/t Au from 27m

Bonanza result sits within numerous wide lower-grade intersections less than 3km from the 5Moz operating Florida Canyon Gold Mine

PolarX Limited (ASX: PXX, “PolarX” or ‘the Company”) is pleased to report outstanding assays which confirm bonanza gold and silver grades in mineralised veins associated with Carlin style mineralisation at the Star Canyon prospect within its Humboldt Range Project in Nevada, USA.

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