Newmont To Sell $29.5M Stake In Fuerte Metals, Reducing Ownership To ~19.5%

Newmont Corporation (NYSE:NEM, ASX: NEM, PNGX: NEM))) ("Newmont" or the "Company") announced today that it has entered into agreements to sell an aggregate of 6,773,641 common shares ("Common Shares") in the capital of Fuerte Metals Corporation ("Fuerte"). Newmont holds its interests in Fuerte through its wholly owned subsidiary, Goldcorp Canada ULC ("Goldcorp Canada").

Goldcorp Canada has agreed to sell the Common Shares to multiple arm's length purchasers pursuant to applicable exemptions under Canadian securities laws (the "Secondary Transaction") at a price of CAD$4.35 per Common Share for aggregate gross proceeds of approximately CAD$29.5 million. The Secondary Transaction is subject to customary closing conditions and is expected to be completed within one week.

Immediately prior to the completion of the Secondary Transaction, Newmont beneficially owns and exercises control or direction over 22,729,126 Common Shares and 10,842,989 Series 1 preferred shares of Fuerte, representing approximately 24% of the issued and outstanding capital of Fuerte. Upon completion of the Secondary Transaction, Newmont expects that its beneficial ownership of the issued and outstanding shares of Fuerte will decrease to approximately 19.5% as a result of the disposition of the Common Shares described above.

Newmont intends to retain its remaining interest in Fuerte at approximately the post-transaction ownership level. Newmont will continue to evaluate its investment in Fuerte from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease its shareholdings through market transactions, private agreements or otherwise, subject to applicable securities laws. While Newmont reserves the right to change its intentions at any time, it does not currently intend to further reduce its ownership interest in Fuerte below such level.