LAURION Announces Performance Grants and Warrant and Stock Option Exercises

/ THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES ./

Laurion Mineral Exploration Inc. (TSXV: LME) (OTCPINK: LMEFF) ("LAURION" or the "Corporation") announces that it has today granted an aggregate of 1,250,000 incentive stock options (" Options ") to a number of its officers and directors. The Options are exercisable for a period of five years at a price of $0.23 per share and will vest over a period of two years.

Specifically, the aforementioned Options were allocated in the following manner:

Name of Optionee	Position with the Corporation	No. of Options	Vesting
Cynthia Le Sueur-Aquin	President, Chief Executive Officer and Chair	250,000	33.33% on the date of grant; 33.33% on the first anniversary of the date of grant; and 33.34% on the second anniversary of the date of grant.
Miles Nagamatsu	Chief Financial Officer	250,000
Michael Burmi	Director	250,000
John Covello	Director	250,000
Nick Ierfino	Director	250,000

Furthermore, LAURION has granted to each of John Covello and Nick Ierfino additional Options to acquire 76,837 common shares of the Corporation, exercisable on or before December 14, 2025 at an exercise price of $0.23 per share, subject to vesting requirements. These additional Options are part of a discretionary performance bonus awarded to Mr. Covello and Mr. Ierfino in recognition of their significant contributions to the Corporation's capital raising initiatives.

The issuance of Options, as contemplated in this news release, is subject to the terms of the Corporation's stock option plan and TSX Venture Exchange (" TSXV ") approval.

The Corporation also wishes to announce that since September 2020 , it has received requests from certain of its security holders to exercise finder's warrants and stock options for aggregate proceeds of approximately $91,650 . The Corporation intends to use the proceeds from these security exercises for exploration activities and general working capital purposes.

About Laurion Mineral Exploration Inc.

The Corporation is a junior mineral exploration and development company listed on the TSXV under the symbol LME and on the OTCPINK under the symbol LMEFF. The Corporation currently has 199,723,430 outstanding shares, of which approximately 71% of LAURION's issued and outstanding shares are owned and controlled by Insiders who are eligible investors under the "Friends and Family" categories.

LAURION's emphasis is on the development of its flagship project, the 100% owned mid-stage 47 km ² Ishkoday Project, and its gold-silver and gold-rich polymetallic mineralization with a significant upside potential. The mineralization on Ishkoday is open at depth beyond the current core-drilling limit of -200 m from surface, based on the historical mining to a -685 m depth, in the past producing Sturgeon River Mine. The recently acquired Brenbar Property, which is contiguous with the Ishkoday Property, hosts the historic Brenbar Mine and LAURION believes the mineralization to be a direct extension of mineralization from the Ishkoday Property.

Caution Regarding Forward-Looking Information

This press release contains forward-looking statements, which reflect the Corporation's current expectations regarding future events, including with respect to LAURION's business, operations and condition, management's objectives, strategies, beliefs and intentions, the issuance of Options and the use of proceeds from the above-mentioned exercises of securities. The forward-looking statements involve risks and uncertainties. Actual events and future results, performance or achievements expressed or implied by such forward-looking statements could differ materially from those projected herein including as a result of the interpretation and actual results of current exploration activities, the TSXV not providing its approval for the granting of Options, changes in project parameters as plans continue to be refined, future prices of gold and/or other metals, possible variations in grade or recovery rates, failure of equipment or processes to operate as anticipated, the failure of contracted parties to perform, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals or financing or in the completion of exploration, as well as those factors disclosed in the Corporation's publicly filed documents. Investors should consult the Corporation's ongoing quarterly and annual filings, as well as any other additional documentation comprising the Corporation's public disclosure record, for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. Subject to applicable law, the Corporation disclaims any obligation to update these forward-looking statements.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

SOURCE Laurion Mineral Exploration Inc.

View original content: https://www.newswire.ca/en/releases/archive/December2020/14/c7990.html

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Laurion Mineral Exploration TSXV:LME Gold Investing

Newmont Reports First Quarter 2024 Results

Newmont Corporation (NYSE: NEM, TSX: NGT, ASX: NEM, PNGX: NEM) (Newmont or the Company) today announced first quarter 2024 results and declared a first quarter dividend of $0.25 per share.

"Newmont delivered a strong first quarter operational performance, producing 2.2 million gold equivalent ounces and generating over $1.4 billion in cash from operations before working capital changes," said Tom Palmer, Newmont's President and Chief Executive Officer. "Underpinned by the gold industry's leading portfolio of Tier 1 gold and copper operations, we remain well-positioned to achieve our full-year guidance and deliver meaningful synergies and productivity improvements from the combined portfolio. We remain focused on delivering on the commitments we laid out at the beginning of this year, creating an attractive value proposition for new and existing investors during this unique time in the gold industry."

News Provided by Business Wire via QuoteMedia

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Indicator Minerals in Gold Exploration (Updated 2024)

Indicator minerals, also known as pathfinder minerals, are used by those engaged in mineral exploration to effectively narrow down the search area for many different types of ore deposits.

When found as grains in sediments and/or rocks, these minerals give clues as to the presence and location of specific types of mineralization. They tend to be used in the search for gold, copper, nickel, tungsten, diamond and platinum-group metals deposits.

In indicator mineral-based exploration programs, sediments and rocks are either geochemically tested or visually inspected for clues about the distance and direction of their source. When it comes to visual inspection, rocks are examined for certain grain morphologies and surface textures in order to obtain information about transport distance and bedrock source.

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	2023													2024
	Q1			Q2		Q3		Q4			FY			Q1			FY
Average realized gold price ($/oz)	$	1,906		$	1,965	$	1,920	$	2,004		$	1,954		$	2,090		$	2,090
Attributable gold production (Moz) ¹		1.27			1.24		1.29		1.74			5.55			1.68			1.68
Gold CAS ($/oz) ^2,3	$	1,025		$	1,054	$	1,019	$	1,086		$	1,050		$	1,057		$	1,057
Gold AISC ($ per ounce) ³	$	1,376		$	1,472	$	1,426	$	1,485		$	1,444		$	1,439		$	1,439
GAAP net income (loss) from continuing operations ($M)	$	339		$	153	$	157	$	(3,170	)	$	(2,521	)	$	166		$	166
Adjusted net income ($M) ⁴	$	320		$	266	$	286	$	452		$	1,324		$	630		$	630
Adjusted net income per share ($/diluted share) ⁴	$	0.40		$	0.33	$	0.36	$	0.46		$	1.57		$	0.55		$	0.55
Adjusted EBITDA ($M) ⁴	$	990		$	910	$	933	$	1,382		$	4,215		$	1,694		$	1,694
Cash from operations before working capital ($M) ⁵	$	843		$	763	$	874	$	777		$	3,257		$	1,442		$	1,442
Net cash from operating activities ($M)	$	481		$	656	$	1,001	$	616		$	2,754		$	776		$	776
Capital expenditures ($M) ⁶	$	526		$	616	$	604	$	920		$	2,666		$	850		$	850
Free cash flow ($M) ⁷	$	(45	)	$	40	$	397	$	(304	)	$	88		$	(74	)	$	(74	)

Guidance Metric	2024E
Attributable Gold Production (Koz)
Managed Tier 1 Portfolio	4,100
Non-Managed Tier 1 Portfolio	1,530
Total Tier 1 Portfolio	5,630
Non-Core Assets	1,300
Total Newmont Attributable Gold Production (Koz)	6,930
Attributable Gold CAS ($/oz) ($1,900/oz price assumption)
Managed Tier 1 Portfolio	980
Non-Managed Tier 1 Portfolio	1,130
Total Tier 1 Portfolio	1,000
Non-Core Assets	1,400
Total Newmont Gold CAS ($/oz) ^a	1,050
Attributable Gold AISC ($/oz) ($1,900/oz price assumption)
Managed Tier 1 Portfolio	1,250
Non-Managed Tier 1 Portfolio	1,440
Total Tier 1 Portfolio	1,300
Non-Core Assets	1,750
Total Newmont Gold AISC ($/oz) ^a	1,400
Copper ($8,818/tonne price assumption) ^a
Copper Production - Tier 1 Portfolio (ktonne)	144
Copper Production - Non-Core Assets (ktonne)	8
Total Newmont Copper Production (ktonne)	152
Copper CAS - Tier 1 Portfolio ($/tonne)	$5,050
Copper CAS - Non-Core Assets ($/tonne)	$11,050
Total Newmont Copper CAS ($/tonne) ^b	$5,080
Copper AISC - Tier 1 Portfolio ($/tonne)	$7,350
Copper AISC - Non-Core Assets ($/tonne)	$12,540
Total Newmont Copper AISC ($/tonne) ^b	$7,380
Silver ($23.00/oz price assumption)
Silver Production (Moz)	34
Silver CAS ($/oz) ^b	$11.00
Silver AISC ($/oz) ^b	$15.40
Lead ($2,205/tonne price assumption) ^a
Lead Production (ktonne)	95
Lead CAS ($/tonne) ^b	$1,220
Lead AISC ($/tonne) ^b	$1,570
Zinc ($2,976/tonne price assumption) ^a
Zinc Production (ktonne)	245
Zinc CAS ($/tonne) ^b	$1,550
Zinc AISC ($/tonne) ^b	$2,300
Attributable Capital
Sustaining Capital ($M) ^a	$1,800
Development Capital ($M) ^a	$1,300
Consolidated Expenses
Exploration & Advanced Projects ($M)	$450
General & Administrative ($M)	$300
Interest Expense ($M)	$365
Depreciation & Amortization ($M)	$2,850
Adjusted Tax Rate ^c,d	34%

2024 Outlook	Consolidated Production (Koz)	Attributable Production (Koz)	Consolidated CAS ($/oz)	Consolidated All-In Sustaining Costs ^b ($/oz)	Attributable Sustaining Capital Expenditures ($M)	Attributable Development Capital Expenditures ($M)
Managed Tier 1 Portfolio
Boddington	575	575	1,150	1,420	145	—
Tanami	400	400	900	1,430	170	340
Cadia	370	370	620	1,150	305	260
Lihir	630	630	1,050	1,270	105	—
Ahafo	725	725	860	1,060	110	—
Ahafo North	—	—	—	—	—	290
Peñasquito	250	250	780	1,030	145	—
Cerro Negro	290	290	860	1,110	50	130
Yanacocha	290	290	1,180	1,370	25	50
Merian ^c	295	220	1,280	1,570	40	—
Brucejack	310	310	1,130	1,370	50	—
Red Chris	40	40	1,120	1,530	65	—

Non-Managed Tier 1 Portfolio
Nevada Gold Mines ^d	1,080	1,080	1,130	1,440	290	130
Pueblo Viejo ^e	—	300	—	—	—	—
Fruta Del Norte ^f	—	150	—	—	—	—

Non-Core Assets
Telfer	230	230	2,180	2,470	35	—
Akyem	170	170	1,780	2,100	15	—
CC&V	170	170	1,270	1,610	25	—
Porcupine	270	270	1,090	1,510	75	100
Éléonore	270	270	1,080	1,500	75	—
Musselwhite	190	190	1,060	1,620	75	—

Co-Product Production
Boddington - Copper (ktonne)	37	37	6,020	7,600	—	—
Cadia - Copper (ktonne)	80	80	3,600	6,580	—	—
Peñasquito - Silver (Moz)	34	34	11.00	15.40	—	—
Peñasquito - Lead (ktonne)	95	95	1,220	1,570	—	—
Peñasquito - Zinc (ktonne)	245	245	1,550	2,300	—	—
Red Chris - Copper (ktonne)	27	27	6,440	9,570	—	—
Telfer - Copper (ktonne)	8	8	11,050	12,540	—	—

	2023										2024
Operating Results	Q1		Q2		Q3		Q4		FY		Q1		Q2	Q3	Q4	FY
Attributable Sales (koz)
Attributable gold ounces sold ⁽¹⁾		1,188		1,197		1,229		1,726		5,340		1,581					1,581
Attributable gold equivalent ounces sold		265		251		59		321		896		502					502

Average Realized Price ($/oz, $/lb)
Average realized gold price	$	1,906	$	1,965	$	1,920	$	2,004	$	1,954	$	2,090				$	2,090
Average realized copper price	$	4.18	$	3.26	$	3.68	$	3.69	$	3.71	$	3.72				$	3.72
Average realized silver price ⁽²⁾	$	19.17	$	20.56	N.M.		$	19.45	$	19.97	$	20.41				$	20.41
Average realized lead price ⁽²⁾	$	0.86	$	0.92	N.M.		$	0.90	$	0.90	$	0.92				$	0.92
Average realized zinc price ⁽²⁾	$	1.18	$	0.73	N.M.		$	3.71	$	0.96	$	0.92				$	0.92

Attributable Gold Production (koz)
Boddington		199		209		181		156		745		142					142
Tanami		63		126		123		136		448		90					90
Cadia		—		—		—		97		97		122					122
Lihir		—		—		—		134		134		181					181
Ahafo		128		137		133		183		581		190					190
Peñasquito ⁽²⁾		85		38		—		20		143		45					45
Cerro Negro		67		48		71		83		269		81					81
Yanacocha		56		65		87		68		276		91					91
Merian (75%)		62		40		62		78		242		57					57
Brucejack		—		—		—		29		29		37					37
Red Chris		—		—		—		5		5		6					6
Managed Tier 1 Portfolio		660		663		657		989		2,969		1,042					1,042
Nevada Gold Mines		261		287		300		322		1,170		264					264
Pueblo Viejo (40%) ⁽³⁾		60		51		52		61		224		54					54
Fruta Del Norte (31.9%) ⁽⁴⁾		—		—		—		—		—		21					21
Non-Managed Tier 1 Portfolio		321		338		352		383		1,394		339					339
Total Tier 1 Portfolio		981		1,001		1,009		1,372		4,363		1,381					1,381
Telfer		—		—		—		43		43		31					31
Akyem		71		49		75		100		295		69					69
CC&V		48		41		45		38		172		28					28
Porcupine		66		60		64		70		260		61					61
Éléonore		66		48		50		68		232		56					56
Musselwhite		41		41		48		50		180		49					49
Non-Core Assets ⁽⁵⁾		292		239		282		369		1,182		294					294
Total Attributable Gold Production		1,273		1,240		1,291		1,741		5,545		1,675					1,675

Attributable Co-Product GEO Production (kGEO)
Boddington		64		67		58		56		245		49					49
Cadia		—		—		—		90		90		118					118
Peñasquito ⁽²⁾		224		189		—		116		529		288					288
Red Chris		—		—		—		20		20		28					28
Tier 1 Portfolio		288		256		58		282		884		483					483
Telfer		—		—		—		7		7		6					6
Non-Core Assets ⁽⁵⁾		—		—		—		7		7		6					6
Total Attributable Co-Product GEO Production		288		256		58		289		891		489					489

Gold CAS Consolidated ($/oz)
Boddington	$	841	$	777	$	848	$	941	$	847	$	1,016				$	1,016
Tanami	$	936	$	829	$	655	$	702	$	759	$	902				$	902
Cadia	$	—	$	—	$	—	$	1,079	$	1,079	$	648				$	648
Lihir	$	—	$	—	$	—	$	1,117	$	1,117	$	936				$	936
Ahafo	$	992	$	910	$	969	$	924	$	947	$	865				$	865
Peñasquito ⁽²⁾	$	1,199	$	831	N.M.		$	1,306	$	1,219	$	853				$	853
Cerro Negro	$	1,146	$	1,655	$	1,216	$	1,132	$	1,257	$	861				$	861
Yanacocha	$	1,067	$	1,187	$	1,057	$	975	$	1,069	$	972				$	972
Merian (75%)	$	1,028	$	1,501	$	1,261	$	1,155	$	1,207	$	1,221				$	1,221
Brucejack	$	—	$	—	$	—	$	1,898	$	1,898	$	2,175				$	2,175
Red Chris	$	—	$	—	$	—	$	905	$	905	$	940				$	940
Nevada Gold Mines	$	1,109	$	1,055	$	992	$	1,125	$	1,070	$	1,177				$	1,177
Tier 1 Portfolio	$	1,019	$	1,001	$	980	$	1,050	$	1,016	$	1,000				$	1,000
Telfer	$	—	$	—	$	—	$	1,882	$	1,882	$	2,632				$	2,632
Akyem	$	810	$	1,087	$	1,032	$	877	$	931	$	1,006				$	1,006
CC&V	$	1,062	$	1,186	$	1,253	$	1,122	$	1,156	$	1,394				$	1,394
Porcupine	$	1,071	$	1,225	$	1,189	$	1,186	$	1,167	$	1,042				$	1,042
Éléonore	$	1,095	$	1,477	$	1,338	$	1,224	$	1,263	$	1,441				$	1,441
Musselwhite	$	1,313	$	1,356	$	1,045	$	1,068	$	1,186	$	1,175				$	1,175
Non-Core Assets ⁽⁵⁾	$	1,043	$	1,264	$	1,159	$	1,214	$	1,169	$	1,306				$	1,306
Total Gold CAS ⁽⁶⁾	$	1,025	$	1,054	$	1,019	$	1,086	$	1,050	$	1,057				$	1,057
Total Gold CAS (by-product) ⁽⁶⁾	$	916	$	1,024	$	1,022	$	1,060	$	1,011	$	891				$	891

	2023										2024
Operating Results (continued)	Q1		Q2		Q3		Q4		FY		Q1		Q2	Q3	Q4	FY
Co-Product CAS Consolidated ($/GEO)
Boddington	$	809	$	766	$	816	$	944	$	830	$	942				$	942
Cadia	$	—	$	—	$	—	$	1,017	$	1,017	$	594				$	594
Peñasquito ⁽²⁾	$	954	$	1,162	N.M.		$	1,602	$	1,283	$	843				$	843
Red Chris	$	—	$	—	$	—	$	1,020	$	1,020	$	1,011				$	1,011
Tier 1 Portfolio	$	918	$	1,062	$	1,636	$	1,235	$	1,118	$	807				$	807
Telfer	$	—	$	—	$	—	$	1,703	$	1,703	$	2,882				$	2,882
Non-Core Assets ⁽⁵⁾	$	—	$	—	$	—	$	1,703	$	1,703	$	2,882				$	2,882
Total Co-Product GEO CAS ⁽⁶⁾	$	918	$	1,062	$	1,636	$	1,254	$	1,127	$	829				$	829

Gold AISC Consolidated ($/oz)
Boddington	$	1,035	$	966	$	1,123	$	1,172	$	1,067	$	1,242				$	1,242
Tanami	$	1,219	$	1,162	$	890	$	1,046	$	1,060	$	1,149				$	1,149
Cadia	$	—	$	—	$	—	$	1,271	$	1,271	$	989				$	989
Lihir	$	—	$	—	$	—	$	1,517	$	1,517	$	1,256				$	1,256
Ahafo	$	1,366	$	1,237	$	1,208	$	1,114	$	1,222	$	1,010				$	1,010
Peñasquito ⁽²⁾	$	1,539	$	1,078	N.M.		$	1,670	$	1,590	$	1,079				$	1,079
Cerro Negro	$	1,379	$	1,924	$	1,438	$	1,412	$	1,509	$	1,120				$	1,120
Yanacocha	$	1,332	$	1,386	$	1,187	$	1,198	$	1,266	$	1,123				$	1,123
Merian (75%)	$	1,235	$	2,010	$	1,652	$	1,454	$	1,541	$	1,530				$	1,530
Brucejack	$	—	$	—	$	—	$	2,646	$	2,646	$	2,580				$	2,580
Red Chris	$	—	$	—	$	—	$	1,439	$	1,439	$	1,277				$	1,277
Nevada Gold Mines	$	1,405	$	1,388	$	1,307	$	1,482	$	1,397	$	1,576				$	1,576
Tier 1 Portfolio	$	1,381	$	1,387	$	1,355	$	1,444	$	1,397	$	1,378				$	1,378
Telfer	$	—	$	—	$	—	$	1,988	$	1,988	$	3,017				$	3,017
Akyem	$	1,067	$	1,461	$	1,332	$	1,110	$	1,210	$	1,254				$	1,254
CC&V	$	1,375	$	1,631	$	1,819	$	1,793	$	1,644	$	1,735				$	1,735
Porcupine	$	1,412	$	1,587	$	1,644	$	1,665	$	1,577	$	1,470				$	1,470
Éléonore	$	1,420	$	2,213	$	2,107	$	1,796	$	1,838	$	1,920				$	1,920
Musselwhite	$	1,681	$	2,254	$	1,715	$	1,771	$	1,843	$	1,766				$	1,766
Non-Core Assets ⁽⁵⁾	$	1,359	$	1,808	$	1,685	$	1,629	$	1,610	$	1,712				$	1,712
Total Gold AISC ⁽⁶⁾	$	1,376	$	1,472	$	1,426	$	1,485	$	1,444	$	1,439				$	1,439
Total Gold AISC (by-product) ⁽⁶⁾	$	1,354	$	1,531	$	1,467	$	1,540	$	1,480	$	1,373				$	1,373

Co-Product AISC Consolidated ($/GEO)
Boddington	$	1,019	$	977	$	1,108	$	1,181	$	1,067	$	1,081				$	1,081
Cadia	$	—	$	—	$	—	$	1,342	$	1,342	$	1,027				$	1,027
Peñasquito ⁽²⁾	$	1,351	$	1,581	N.M.		$	2,098	$	1,756	$	1,102				$	1,102
Red Chris	$	—	$	—	$	—	$	1,660	$	1,660	$	1,400				$	1,400
Tier 1 Portfolio	$	1,322	$	1,492	$	2,422	$	1,666	$	1,565	$	1,120				$	1,120
Telfer	$	—	$	—	$	—	$	2,580	$	2,580	$	3,745				$	3,745
Non-Core Assets ⁽⁵⁾	$	—	$	—	$	—	$	2,580	$	2,580	$	3,745				$	3,745
Total Co-Product GEO AISC ⁽⁶⁾	$	1,322	$	1,492	$	2,422	$	1,703	$	1,579	$	1,148				$	1,148

⁽¹⁾		Attributable gold ounces sold excludes ounces related to the Pueblo Viejo mine, which is 40% owned by Newmont and accounted for as an equity method investment, and the Fruta del Norte mine, which is wholly owned by Lundin Gold whom the Company holds a 31.9% interest and is accounted for as an equity method investment.
⁽²⁾		For the three months ended June 30, 2023 and September 30, 2023, Peñasquito production was impacted due to the suspension of operations as a result of the Union labor strike. Sales activity recognized in the third quarter of 2023 was related to adjustments on provisionally price concentrate sales subject to final settlement. Consequently, price per ounce/pound metrics are not meaningful ("N.M").
⁽³⁾		Represents attributable gold from Newmont's 40% interest in Pueblo Viejo, which is accounted for as an equity method investment. Attributable gold ounces produced at Pueblo Viejo are not included in attributable gold ounces sold, as noted in footnote (1). Income and expenses of equity method investments are included in Equity income (loss) of affiliates .
⁽⁴⁾		Represents attributable gold from Newmont's 31.9% interest in Lundin Gold, who wholly owns and operates the Fruta del Norte mine, which is accounted for on a quarterly-lag as an equity method investment. Attributable gold ounces produced by Lundin Gold represent prior quarter production and are not included in attributable gold ounces sold, as noted in footnote (1). Income and expenses of equity method investments are included in Equity income (loss) of affiliates .
⁽⁵⁾		Sites are classified as held for sale as of March 31, 2024.
⁽⁶⁾		Non-GAAP measure. See end of this release for reconciliation.

NEWMONT CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited, in millions except per share)

	2023 ⁽¹⁾															2024
	Q1			Q2			Q3			Q4			FY			Q1			Q2	Q3	Q4	FY

Sales	$	2,679		$	2,683		$	2,493		$	3,957		$	11,812		$	4,023					$	4,023

Costs and expenses:
Costs applicable to sales ⁽²⁾		1,482			1,543			1,371			2,303			6,699			2,106						2,106
Depreciation and amortization		461			486			480			681			2,108			654						654
Reclamation and remediation		66			66			166			1,235			1,533			98						98
Exploration		48			66			78			73			265			53						53
Advanced projects, research and development		35			44			53			68			200			53						53
General and administrative		74			71			70			84			299			101						101
Loss on assets held for sale		—			—			—			—			—			485						485
Impairment charges		4			4			2			1,881			1,891			12						12
Other expense, net		4			37			35			441			517			61						61
		2,174			2,317			2,255			6,766			13,512			3,623						3,623
Other income (expense):
Other income (loss), net		99			(17	)		42			(212	)		(88	)		121						121
Interest expense, net of capitalized interest		(65	)		(49	)		(48	)		(81	)		(243	)		(93	)					(93	)
		34			(66	)		(6	)		(293	)		(331	)		28						28
Income (loss) before income and mining tax and other items		539			300			232			(3,102	)		(2,031	)		428						428
Income and mining tax benefit (expense)		(213	)		(163	)		(73	)		(77	)		(526	)		(260	)					(260	)
Equity income (loss) of affiliates		25			16			3			19			63			7						7
Net income (loss) from continuing operations		351			153			162			(3,160	)		(2,494	)		175						175
Net income (loss) from discontinued operations		12			2			1			12			27			4						4
Net income (loss)		363			155			163			(3,148	)		(2,467	)		179						179
Net loss (income) attributable to noncontrolling interests		(12	)		—			(5	)		(10	)		(27	)		(9	)					(9	)
Net income (loss) attributable to Newmont stockholders	$	351		$	155		$	158		$	(3,158	)	$	(2,494	)	$	170					$	170

Net income (loss) attributable to Newmont stockholders:
Continuing operations	$	339		$	153		$	157		$	(3,170	)	$	(2,521	)	$	166					$	166
Discontinued operations		12			2			1			12			27			4						4
	$	351		$	155		$	158		$	(3,158	)	$	(2,494	)	$	170					$	170

Weighted average common shares (millions):
Basic		794			795			795			978			841			1,153						1,153
Effect of employee stock-based awards		1			—			1			1			—			—						—
Diluted		795			795			796			979			841			1,153						1,153

Net income (loss) attributable to Newmont stockholders per common share:
Basic:
Continuing operations	$	0.42		$	0.19		$	0.20		$	(3.24	)	$	(3.00	)	$	0.15					$	0.15
Discontinued operations		0.02			—			—			0.01			0.03			—						—
	$	0.44		$	0.19		$	0.20		$	(3.23	)	$	(2.97	)	$	0.15					$	0.15
Diluted:
Continuing operations	$	0.42		$	0.19		$	0.20		$	(3.24	)	$	(3.00	)	$	0.15					$	0.15
Discontinued operations		0.02			—			—			0.01			0.03			—						—
	$	0.44		$	0.19		$	0.20		$	(3.23	)	$	(2.97	)	$	0.15					$	0.15

⁽¹⁾		Certain amounts and disclosures in the prior year have been reclassified to conform to the current year presentation.
⁽²⁾		Excludes Depreciation and amortization and Reclamation and remediation .

NEWMONT CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited, in millions)

	2023 ⁽¹⁾												2024
	MAR			JUN			SEP			DEC			MAR			JUN	SEP	DEC
ASSETS
Cash and cash equivalents	$	2,657		$	2,829		$	3,190		$	3,002		$	2,336
Trade receivables		348			185			78			734			782
Investments		847			409			24			23			23
Inventories		1,067			1,111			1,127			1,663			1,385
Stockpiles and ore on leach pads		905			858			829			979			745
Derivative assets		—			—			—			198			114
Other current assets		735			742			707			913			765
Current assets held for sale		—			—			—			—			5,656
Current assets		6,559			6,134			5,955			7,512			11,806
Property, plant and mine development, net		24,097			24,284			24,474			37,563			33,564
Investments		3,216			3,172			3,133			4,143			4,138
Stockpiles and ore on leach pads		1,691			1,737			1,740			1,935			1,837
Deferred income tax assets		170			166			138			268			210
Goodwill		1,971			1,971			1,971			3,001			2,792
Derivative assets		—			—			—			444			412
Other non-current assets		670			669			673			640			576
Total assets	$	38,374		$	38,133		$	38,084		$	55,506		$	55,335

LIABILITIES
Accounts payable	$	648		$	565		$	651		$	960		$	698
Employee-related benefits		302			313			345			551			414
Income and mining taxes payable		213			155			143			88			136
Lease and other financing obligations		96			96			94			114			99
Debt		—			—			—			1,923			—
Other current liabilities		1,493			1,564			1,575			2,362			1,784
Current liabilities held for sale		—			—			—			—			2,351
Current liabilities		2,752			2,693			2,808			5,998			5,482
Debt		5,572			5,574			5,575			6,951			8,933
Lease and other financing obligations		451			441			418			448			436
Reclamation and remediation liabilities		6,603			6,604			6,714			8,167			6,652
Deferred income tax liabilities		1,800			1,795			1,696			2,987			3,094
Employee-related benefits		395			399			397			655			610
Silver streaming agreement		805			786			787			779			753
Other non-current liabilities		437			426			429			316			300
Total liabilities		18,815			18,718			18,824			26,301			26,260

Commitments and contingencies

EQUITY
Common stock		1,281			1,281			1,281			1,854			1,855
Treasury stock		(261	)		(261	)		(263	)		(264	)		(274	)
Additional paid-in capital		17,386			17,407			17,425			30,419			30,436
Accumulated other comprehensive income (loss)		23			13			8			14			(16	)
(Accumulated deficit) Retained earnings		948			785			623			(2,996	)		(3,111	)
Newmont stockholders' equity		19,377			19,225			19,074			29,027			28,890
Noncontrolling interests		182			190			186			178			185
Total equity		19,559			19,415			19,260			29,205			29,075
Total liabilities and equity	$	38,374		$	38,133		$	38,084		$	55,506		$	55,335

NEWMONT CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited, in millions)

	2023 ⁽¹⁾															2024
	Q1			Q2			Q3			Q4			FY			Q1			Q2	Q3	Q4	FY
Operating activities:
Net income (loss)	$	363		$	155		$	163		$	(3,148	)	$	(2,467	)	$	179					$	179
Non-cash adjustments:
Depreciation and amortization		461			486			480			681			2,108			654						654
Loss on assets held for sale		—			—			—			—			—			485						485
Net loss (income) from discontinued operations		(12	)		(2	)		(1	)		(12	)		(27	)		(4	)					(4	)
Reclamation and remediation		61			59			167			1,219			1,506			94						94
Deferred income taxes		15			6			(24	)		(101	)		(104	)		53						53
Change in fair value of investments		(41	)		42			41			5			47			(31	)					(31	)
(Gain) loss on asset and investment sales, net		(36	)		—			2			231			197			(9	)					(9	)
Impairment charges		4			4			2			1,881			1,891			12						12
Other non-cash adjustments		28			13			44			21			106			9						9
Cash from operations before working capital ⁽²⁾		843			763			874			777			3,257			1,442						1,442
Net change in operating assets and liabilities		(362	)		(107	)		127			(171	)		(513	)		(666	)					(666	)
Net cash provided by (used in) operating activities of continuing operations		481			656			1,001			616			2,754			776						776
Net cash provided by (used in) operating activities of discontinued operations		—			7			2			—			9			—						—
Net cash provided by (used in) operating activities		481			663			1,003			616			2,763			776						776

Investing activities:
Additions to property, plant and mine development		(526	)		(616	)		(604	)		(920	)		(2,666	)		(850	)					(850	)
Proceeds from asset and investment sales		181			33			5			15			234			35						35
Return of investment from equity method investees		—			30			—			6			36			25						25
Purchases of investments		(525	)		(17	)		(3	)		(6	)		(551	)		(23	)					(23	)
Contributions to equity method investees		(41	)		(23	)		(26	)		(18	)		(108	)		(15	)					(15	)
Proceeds from maturities of investments		557			424			374			8			1,363			—						—
Acquisitions, net		—			—			—			668			668			—						—
Other		12			11			1			(2	)		22			30						30
Net cash provided by (used in) investing activities		(342	)		(158	)		(253	)		(249	)		(1,002	)		(798	)					(798	)
Net cash provided by (used in) investing activities of discontinued operations		—			—			—			—			—			—						—
Net cash provided by (used in) investing activities		(342	)		(158	)		(253	)		(249	)		(1,002	)		(798	)					(798	)

Financing activities:
Proceeds from issuance of debt, net		—			—			—			—			—			3,476						3,476
Repayment of debt		—			—			—			—			—			(3,423	)					(3,423	)
Dividends paid to common stockholders		(318	)		(318	)		(318	)		(461	)		(1,415	)		(288	)					(288	)
Distributions to noncontrolling interests		(34	)		(32	)		(41	)		(43	)		(150	)		(41	)					(41	)
Funding from noncontrolling interests		41			34			32			31			138			22						22
Payments on lease and other financing obligations		(16	)		(16	)		(16	)		(19	)		(67	)		(18	)					(18	)
Payments for withholding of employee taxes related to stock-based compensation		(22	)		—			(2	)		(1	)		(25	)		(10	)					(10	)
Other		(1	)		(2	)		(36	)		(45	)		(84	)		(17	)					(17	)
Net cash provided by (used in) financing activities		(350	)		(334	)		(381	)		(538	)		(1,603	)		(299	)					(299	)
Effect of exchange rate changes on cash, cash equivalents and restricted cash		(8	)		4			(5	)		7			(2	)		(3	)					(3	)
Net change in cash, cash equivalents and restricted cash, including cash and restricted cash reclassified to assets held for sale		(219	)		175			364			(164	)		156			(324	)					(324	)
Less: cash and restricted cash reclassified to assets held for sale ⁽³⁾		—			—			—			—			—			(395	)					(395	)
Net change in cash, cash equivalents and restricted cash		(219	)		175			364			(164	)		156			(719	)					(719	)
Cash, cash equivalents and restricted cash at beginning of period		2,944			2,725			2,900			3,264			2,944			3,100						3,100
Cash, cash equivalents and restricted cash at end of period	$	2,725		$	2,900		$	3,264		$	3,100		$	3,100		$	2,381					$	2,381

Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	$	2,657		$	2,829		$	3,190		$	3,002		$	3,002		$	2,336					$	2,336
Restricted cash included in Other current assets		1			1			1			11			11			6						6
Restricted cash included in Other non-current assets		67			70			73			87			87			39						39
Total cash, cash equivalents and restricted cash	$	2,725		$	2,900		$	3,264		$	3,100		$	3,100		$	2,381					$	2,381

	Three Months Ended March 31, 2024
				per share data ⁽¹⁾
				basic			diluted
Net income (loss) attributable to Newmont stockholders	$	170		$	0.15		$	0.15
Net loss (income) attributable to Newmont stockholders from discontinued operations		(4	)		—			—
Net income (loss) attributable to Newmont stockholders from continuing operations		166			0.15			0.15
Loss on assets held for sale ⁽²⁾		485			0.43			0.43
Change in fair value of investments ⁽³⁾		(31	)		(0.03	)		(0.03	)
Newcrest transaction and integration costs ⁽⁴⁾		29			0.03			0.03
Settlement costs ⁽⁵⁾		21			0.02			0.02
Impairment charges ⁽⁶⁾		12			0.01			0.01
(Gain) loss on asset and investment sales, net ⁽⁷⁾		(9	)		(0.01	)		(0.01	)
Restructuring and severance ⁽⁸⁾		6			—			—
Reclamation and remediation charges ⁽⁹⁾		6			—			—
Tax effect of adjustments ⁽¹⁰⁾		(147	)		(0.13	)		(0.13	)
Valuation allowance and other tax adjustments ⁽¹¹⁾		92			0.08			0.08
Adjusted net income (loss)	$	630		$	0.55		$	0.55

Weighted average common shares (millions): ⁽¹²⁾					1,153			1,153

⁽¹⁾		Per share measures may not recalculate due to rounding.
⁽²⁾		Loss on assets held for sale, included in Loss on assets held for sale , represents the loss recorded for the six non-core assets and the development project that met the requirements to be presented as held for sale in 2024.
⁽³⁾		Change in fair value of investments, included in Other income (loss), net , primarily represents unrealized gains and losses related to the Company's investment in current and non-current marketable equity securities.
⁽⁴⁾		Newcrest transaction and integration costs, included in Other expense, net , represents costs incurred related to Newmont's acquisition of Newcrest completed in 2023 as well as subsequent integration costs.
⁽⁵⁾		Settlement costs, included in Other expense, net , are primarily comprised of wind down and demobilization costs related to the French Guiana project.
⁽⁶⁾		Impairment charges, included in Other expense, net , represents non-cash write-downs of various assets that are no longer in use and materials and supplies inventories.
⁽⁷⁾		(Gain) loss on asset and investment sales, net, included in Other income (loss), net , primarily represents the gain recognized on the purchase and sale of foreign currency bonds.
⁽⁸⁾		Restructuring and severance, included in Other expense, net , primarily represents severance and related costs associated with significant organizational or operating model changes implemented by the Company.
⁽⁹⁾		Reclamation and remediation charges, included in Reclamation and remediation , represent revisions to reclamation and remediation plans at the Company's former operating properties and historic mining operations that have entered the closure phase and have no substantive future economic value.
⁽¹⁰⁾		The tax effect of adjustments, included in Income and mining tax benefit (expense) , represents the tax effect of adjustments in footnotes (2) through (9), as described above, and are calculated using the applicable regional tax rate.
⁽¹¹⁾		Valuation allowance and other tax adjustments, included in Income and mining tax benefit (expense) , is recorded for items such as foreign tax credits, capital losses, disallowed foreign losses, and the effects of changes in foreign currency exchange rates on deferred tax assets and deferred tax liabilities. The adjustment for the three months ended March 31, 2024 reflects the net increase or (decrease) to net operating losses, capital losses, tax credit carryovers, and other deferred tax assets subject to valuation allowance of $(65), the effects of changes in foreign exchange rates on deferred tax assets and liabilities of $35, net reductions to the reserve for uncertain tax positions of $(2), recording of a deferred tax liability for the outside basis difference at Akyem of $117 due to the status change to held-for-sale, and other tax adjustments of $7.
⁽¹²⁾		Adjusted net income (loss) per diluted share is calculated using diluted common shares in accordance with GAAP.

	Three Months Ended March 31, 2023
				per share data ⁽¹⁾
				basic			diluted
Net income (loss) attributable to Newmont stockholders	$	351		$	0.44		$	0.44
Net loss (income) attributable to Newmont stockholders from discontinued operations		(12	)		(0.02	)		(0.02	)
Net income (loss) attributable to Newmont stockholders from continuing operations		339			0.42			0.42
Change in fair value of investments ⁽²⁾		(41	)		(0.05	)		(0.05	)
(Gain) loss on asset and investment sales, net ⁽³⁾		(36	)		(0.05	)		(0.05	)
Impairment charges ⁽⁴⁾		4			—			—
Restructuring and severance ⁽⁵⁾		2			—			—
Other ⁽⁶⁾		(4	)		—			—
Tax effect of adjustments ⁽⁷⁾		16			0.02			0.02
Valuation allowance and other tax adjustments ⁽⁸⁾		40			0.06			0.06
Adjusted net income (loss)	$	320		$	0.40		$	0.40

Weighted average common shares (millions): ⁽⁹⁾					794			795

	Three Months Ended March 31,
	2024			2023
Net income (loss) attributable to Newmont stockholders	$	170		$	351
Net income (loss) attributable to noncontrolling interests		9			12
Net (income) loss from discontinued operations		(4	)		(12	)
Equity loss (income) of affiliates		(7	)		(25	)
Income and mining tax expense (benefit)		260			213
Depreciation and amortization		654			461
Interest expense, net of capitalized interest		93			65
EBITDA	$	1,175		$	1,065
Adjustments:
Loss on assets held for sale ⁽¹⁾	$	485		$	—
Change in fair value of investments ⁽²⁾		(31	)		(41	)
Newcrest transaction and integration costs ⁽³⁾		29			—
Settlement costs ⁽⁴⁾		21			—
Impairment charges ⁽⁵⁾		12			4
(Gain) loss on asset and investment sales, net ⁽⁶⁾		(9	)		(36	)
Restructuring and severance ⁽⁷⁾		6			2
Reclamation and remediation charges ⁽⁸⁾		6			—
Other ⁽⁹⁾		—			(4	)
Adjusted EBITDA	$	1,694		$	990

⁽¹⁾		Includes payment of $291 for stamp duty tax, related to the Newcrest transaction, in the first quarter of 2024.
⁽²⁾		Net cash provided by (used in) investing activities includes Additions to property, plant and mine development, which is included in the Company's computation of Free Cash Flow.

	Three Months Ended March 31, 2024
	Consolidated			Attributable to noncontrolling interests ⁽¹⁾			Attributable to Newmont Stockholders
Net cash provided by (used in) operating activities	$	776		$	(7	)	$	769
Less: Additions to property, plant and mine development ⁽²⁾		(850	)		4			(846	)
Free Cash Flow	$	(74	)	$	(3	)	$	(77	)

Net cash provided by (used in) investing activities ⁽³⁾	$	(798	)
Net cash provided by (used in) financing activities	$	(299	)

⁽¹⁾		Adjustment to eliminate a portion of Net cash provided by (used in) operating activities and Additions to property, plant and mine development attributable to noncontrolling interests, which primarily relates to Merian (25%) for the three months ended March 31, 2024.
⁽²⁾		For the three months ended March 31, 2024, Merian had total consolidated Additions to property, plant and mine development of $15, on a cash basis.
⁽³⁾		Net cash provided by (used in) investing activities includes Additions to property, plant and mine development, which is included in the Company's computation of Free Cash Flow.

	Three Months Ended March 31, 2023
	Consolidated			Attributable to noncontrolling interests ⁽¹⁾			Attributable to Newmont Stockholders
Net cash provided by (used in) operating activities	$	481		$	(12	)	$	469
Less: Additions to property, plant and mine development ⁽²⁾		(526	)		3			(523	)
Free Cash Flow	$	(45	)	$	(9	)	$	(54	)

Net cash provided by (used in) investing activities ⁽³⁾	$	(342	)
Net cash provided by (used in) financing activities	$	(350	)

	At March 31, 2024			At December 31, 2023
Debt	$	8,933		$	8,874
Lease and other financing obligations		535			562
Less: Cash and cash equivalents		(2,336	)		(3,002	)
Less: Cash and cash equivalents included in current assets held for sale ⁽¹⁾		(342	)		—
Net debt	$	6,790		$	6,434

⁽¹⁾		Includes by-product credits of $39 and $30 during the three months ended March 31, 2024 and 2023.
⁽²⁾		Excludes Depreciation and amortization and Reclamation and remediation .
⁽³⁾		Per ounce measures may not recalculate due to rounding.

⁽¹⁾		Includes by-product credits of $15 and $2 during the three months ended March 31, 2024 and 2023.
⁽²⁾		Excludes Depreciation and amortization and Reclamation and remediation .
⁽³⁾		Gold equivalent ounces is calculated as pounds or ounces produced multiplied by the ratio of the other metals price to the gold price, using Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.) and Zinc ($1.20/lb.) for each of 2024 and 2023.
⁽⁴⁾		Per ounce measures may not recalculate due to rounding.

Three Months Ended March 31, 2024	Costs Applicable to Sales ^(1)(2)(3)		Reclamation Costs ⁽⁴⁾		Advanced Projects, Research and Development and Exploration ⁽⁵⁾		General and Administrative		Other Expense, Net ⁽⁶⁾		Treatment and Refining Costs		Sustaining Capital and Lease Related Costs ⁽⁷⁾⁽⁸⁾		All-In Sustaining Costs		Ounces (000) Sold		All-In Sustaining Costs Per oz. ⁽⁹⁾
Gold
Brucejack ⁽¹⁰⁾	$	74	$	1	$	—	$	—	$	—	$	1	$	12	$	88		34	$	2,580
Red Chris ⁽¹⁰⁾		7		—		—		—		—		1		1		9		7	$	1,277
Peñasquito		38		1		—		—		—		3		5		47		44	$	1,079
Merian		90		2		2		—		—		—		19		113		74	$	1,530
Cerro Negro		63		2		1		—		1		—		15		82		74	$	1,120
Yanacocha		88		7		2		—		—		—		5		102		90	$	1,123
Boddington		144		5		—		—		—		3		24		176		142	$	1,242
Tanami		82		1		—		—		—		—		22		105		91	$	1,149
Cadia ⁽¹⁰⁾		74		—		3		—		—		6		30		113		114	$	989
Lihir ⁽¹⁰⁾		171		1		6		—		—		—		51		229		182	$	1,256
Ahafo		159		4		—		—		—		1		22		186		184	$	1,010
Nevada Gold Mines		314		4		2		2		1		2		95		420		267	$	1,576
Corporate and Other ⁽¹¹⁾		—		—		30		90		1		—		4		125		—	$	—
Held for sale ⁽¹⁴⁾
CC&V		40		3		1		—		1		—		5		50		29	$	1,735
Musselwhite		57		1		2		—		1		—		25		86		49	$	1,766
Porcupine		63		5		2		—		—		—		19		89		61	$	1,470
Éléonore		80		2		4		—		—		—		21		107		56	$	1,920
Telfer ⁽¹⁰⁾		70		2		3		—		—		1		3		79		26	$	3,017
Akyem		76		11		—		1		—		—		8		96		75	$	1,254
Total Gold	$	1,690	$	52	$	58	$	93	$	5	$	18	$	386	$	2,302		1,599	$	1,439

Gold equivalent ounces - other metals ^(12)(13)
Red Chris ⁽¹⁰⁾	$	31	$	—	$	2	$	—	$	—	$	4	$	6	$	43	$	31	$	1,400
Peñasquito		255		9		1		—		—		35		34		334		303	$	1,102
Boddington		48		1		—		—		—		3		3		55		51	$	1,081
Cadia ⁽¹⁰⁾		67		—		2		—		—		19		27		115		112	$	1,027
Corporate and Other ⁽¹¹⁾		—		—		1		8		—		—		—		9		—	$	—
Held for sale ⁽¹⁴⁾
Telfer ⁽¹⁰⁾		15		1		1		—		—		2		1		20		5	$	3,745
Total Gold Equivalent Ounces	$	416	$	11	$	7	$	8	$	—	$	63	$	71	$	576		502	$	1,148

Consolidated	$	2,106	$	63	$	65	$	101	$	5	$	81	$	457	$	2,878

Three Months Ended March 31, 2023	Costs Applicable to Sales ^(1)(2)(3)(4)		Reclamation Costs ⁽⁵⁾		Advanced Projects, Research and Development and Exploration ⁽⁶⁾		General and Administrative		Other Expense, Net ⁽⁷⁾		Treatment and Refining Costs		Sustaining Capital and Lease Related Costs ⁽⁸⁾⁽⁹⁾		All-In Sustaining Costs		Ounces (000) Sold	All-In Sustaining Costs Per oz. ⁽¹⁰⁾
Gold
CC&V	$	51	$	2	$	3	$	—	$	—	$	—	$	10	$	66	48	$	1,375
Musselwhite		58		1		1		—		—		—		14		74	44	$	1,681
Porcupine		70		5		4		—		—		—		13		92	65	$	1,412
Éléonore		75		2		1		—		—		—		19		97	68	$	1,420
Peñasquito		67		3		—		—		—		4		12		86	56	$	1,539
Merian		85		2		2		—		—		—		14		103	83	$	1,235
Cerro Negro		70		1		1		—		—		—		12		84	61	$	1,379
Yanacocha		56		7		3		—		1		—		3		70	53	$	1,332
Boddington		167		4		1		—		—		5		28		205	198	$	1,035
Tanami		61		1		—		—		—		—		17		79	65	$	1,219
Ahafo		130		4		—		—		1		—		44		179	131	$	1,366
Akyem		63		10		—		—		—		—		10		83	78	$	1,067
Nevada Gold Mines		286		4		4		2		—		2		65		363	258	$	1,405
Corporate and Other ⁽¹¹⁾		—		—		19		61		—		—		2		82	—	$	—
Total Gold	$	1,239	$	46	$	39	$	63	$	2	$	11	$	263	$	1,663	1,208	$	1,376

Gold equivalent ounces - other metals ^(12)(13)
Peñasquito	$	190	$	7	$	1	$	—	$	—	$	34	$	36	$	268	199	$	1,351
Boddington		53		1		1		—		—		4		8		67	66	$	1,019
Corporate and Other ⁽¹¹⁾		—		—		3		11		—		—		—		14	—	$	—
Total Gold Equivalent Ounces	$	243	$	8	$	5	$	11	$	—	$	38	$	44	$	349	265	$	1,322

Consolidated	$	1,482	$	54	$	44	$	74	$	2	$	49	$	307	$	2,012

2024 Outlook - Gold ⁽¹⁾⁽²⁾
(in millions, except ounces and per ounce)	Outlook Estimate
Cost Applicable to Sales ⁽³⁾⁽⁴⁾	$	6,900
Reclamation Costs ⁽⁵⁾		190
Advanced Projects & Exploration ⁽⁶⁾		160
General and Administrative ⁽⁷⁾		235
Other Expense		10
Treatment and Refining Costs		135
Sustaining Capital ⁽⁸⁾		1,495
Sustaining Finance Lease Payments		25
All-in Sustaining Costs	$	9,150
Ounces (000) Sold ⁽⁹⁾		6,555
All-in Sustaining Costs per Ounce	$	1,400

⁽¹⁾		The reconciliation is provided for illustrative purposes in order to better describe management's estimates of the components of the calculation. Estimates for each component of the forward-looking All-in sustaining costs per ounce are independently calculated and, as a result, the total All-in sustaining costs and the All-in sustaining costs per ounce may not sum to the component ranges. While a reconciliation to the most directly comparable GAAP measure has been provided for the 2024 AISC Gold Outlook on a consolidated basis, a reconciliation has not been provided on an individual site or project basis in reliance on Item 10(e)(1)(i)(B) of Regulation S-K because such reconciliation is not available without unreasonable efforts.
⁽²⁾		All values are presented on a consolidated basis for Newmont.
⁽³⁾		Excludes Depreciation and amortization and Reclamation and remediation .
⁽⁴⁾		Includes stockpile and leach pad inventory adjustments.
⁽⁵⁾		Reclamation costs include operating accretion and amortization of asset retirement costs.
⁽⁶⁾		Advanced Project and Exploration excludes non-sustaining advanced projects and exploration.
⁽⁷⁾		Includes stock-based compensation.
⁽⁸⁾		Excludes development capital expenditures, capitalized interest and change in accrued capital.
⁽⁹⁾		Consolidated production for Merian is presented on a total production basis for the mine site and excludes production from Pueblo Viejo and Fruta del Norte.

LAURION Announces Performance Grants and Warrant and Stock Option Exercises

Overview

Company Highlights

Key Project

Horne 5 Project

Management Team

Luc Lessard – President, Chief Executive Officer and Director

Anthony Glavac – Chief Financial Officer

Helene Cartier – Vice-president Environment, Sustainable Development and Community Relations

Mireille Tremblay – Vice-president Legal Affairs and Corporate Secretary

Mario Caron – Independent Chair

Alexander Dann – Non-independent Director

Claude Dufresne – Independent Director

Paola Farnesi – Independent Director

How are indicator and pathfinder minerals used in gold exploration?

1. Gold grain morphology

2. Gold grain inclusions

3. Composition studies

4. Geochemistry

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	Three Months Ended
	March 31, 2024			December 31, 2023			September 30, 2023			June 30, 2023

Net income (loss) attributable to Newmont stockholders	$	170		$	(3,158	)	$	158		$	155
Net income (loss) attributable to noncontrolling interests		9			10			5			—
Net loss (income) from discontinued operations		(4	)		(12	)		(1	)		(2	)
Equity loss (income) of affiliates		(7	)		(19	)		(3	)		(16	)
Income and mining tax expense (benefit)		260			77			73			163
Depreciation and amortization		654			681			480			486
Interest expense, net of capitalized interest		93			81			48			49
EBITDA		1,175			(2,340	)		760			835
Adjustments:
Loss on assets held for sale		485			—			—			—
Change in fair value of investments		(31	)		5			41			42
Newcrest transaction and integration costs		29			427			16			21
Settlement costs		21			5			2			—
Impairment charges		12			1,881			2			4
(Gain) loss on asset and investment sales, net		(9	)		231			2			—
Restructuring and severance		6			5			7			10
Reclamation and remediation charges		6			1,158			104			(2	)
Pension settlements		—			9			—			—
COVID-19 specific costs		—			1			—			—
Other		—			—			(1	)		—
Adjusted EBITDA		1,694			1,382			933			910
12 month trailing Adjusted EBITDA	$	4,919
Newcrest pro forma adjusted EBITDA (pre-acquisition) ⁽¹⁾	$	883
12 month trailing pro forma Adjusted EBITDA	$	5,802

Total Debt	$	8,933
Lease and other financing obligations		535
Less: Cash and cash equivalents		(2,336	)
Less: Cash and cash equivalents reclassified to current assets held for sale ⁽²⁾		(342	)
Total net debt	$	6,790

Net debt to pro forma Adjusted EBITDA		1.2

⁽¹⁾		Represents Newcrest's pre-acquisition Adjusted EBITDA on a US GAAP basis from January 1, 2023 through to the acquisition date, November 6, 2023. This amount is added to our adjusted EBITDA to include a full twelve months of Newcrest results on a pro forma basis for the rolling twelve months ended March 31, 2024. The pro forma adjusted EBITDA was derived from Newcrest unaudited financial information for the 10 months ended October 31, 2023 and November 1, 2023 through November 6, 2023, the acquisition date. Newcrest's pre-acquisition Adjusted EBITDA has been added to our adjusted EBITDA for the purposes of Net Debt to Pro Forma Adjusted EBITDA ratio only.
⁽²⁾		During the first quarter of 2024, certain non-core assets were determined to meet the criteria for assets held for sale. As a result, $342 of Cash and cash equivalents were reclassified to C urrent assets held for sale .

	Three Months Ended March 31, 2024
	Gold			Copper			Silver			Lead			Zinc
	(ounces)			(pounds)			(ounces)			(pounds)			(pounds)
Consolidated sales:
Gross before provisional pricing and streaming impact	$	3,329		$	316		$	182		$	61		$	149
Provisional pricing mark-to-market		30			9			4			—			(3	)
Silver streaming amortization		—			—			27			—			—
Gross after provisional pricing and streaming impact		3,359			325			213			61			146
Treatment and refining charges		(18	)		(28	)		(12	)		(1	)		(22	)
Net	$	3,341		$	297		$	201		$	60		$	124
Consolidated ounces/pounds sold ⁽¹⁾⁽²⁾		1,599			80			10			65			135
Average realized price (per ounce/pound): ⁽³⁾
Gross before provisional pricing and streaming impact	$	2,082		$	3.95		$	18.50		$	0.95		$	1.10
Provisional pricing mark-to-market		19			0.12			0.39			(0.01	)		(0.02	)
Silver streaming amortization		—			—			2.78			—			—
Gross after provisional pricing and streaming impact		2,101			4.07			21.67			0.94			1.08
Treatment and refining charges		(11	)		(0.35	)		(1.26	)		(0.02	)		(0.16	)
Net	$	2,090		$	3.72		$	20.41		$	0.92		$	0.92

⁽¹⁾		Amounts reported in millions except gold ounces, which are reported in thousands.
⁽²⁾		For the three months ended March 31, 2024 the Company sold 36 thousand tonnes of copper, 29 thousand tonnes of lead, and 61 thousand tonnes of zinc.
⁽³⁾		Per ounce/pound measures may not recalculate due to rounding.

Dial-In Number		833.470.1428
Intl Dial-In Number		404.975.4839 ¹
Dial-In Access Code		475768
Conference Name		Newmont
Replay Number		866.813.9403
Intl Replay Number		929.458.6194
Replay Access Code		418753

¹ For toll-free phone numbers, refer to the following link: https://www.netroadshow.com/events/global-numbers?confId=49005