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Newmont Achieves 2013 Production Target; Provides 2014 Outlook

The Company will apply a gold price assumption of $1,300 per ounce, down from $1,400 per ounce, for all asset impairment testing as well as the 2013 Reserve calculation. For Resources, the updated gold price assumption is $1,400 per ounce, down from $1,600 per ounce. The Company is conducting its regularly scheduled accounting impairment review, which could result in non-cash impairment charges against book value to certain development assets such as Long Canyon. Final outcomes of this review and final Reserves and Resources will be reported in the Company’s Form 10-K, expected to be filed with the Securities and Exchange Commission on February 20, 2014.

2014 Outlook

Newmont expanded its 2014 outlook for production, costs and capital expenditures to include greater visibility into its Nevada and Other Australia/New Zealand operations. Additionally, the 2014 outlook is presented on a consolidated basis and with greater detail on all-in sustaining costs at the regional level for gold and on a total company basis for copper. Copper production is also presented in tonnes.

Newmont expects consolidated 2014 gold and copper production to be approximately 5.0 to 5.3 million ounces and 160 to 175 thousand tonnes, respectively, at CAS of approximately $740 to $790 per ounce and $2.00 to $2.25 per pound. In 2014, all-in sustaining costs are anticipated to be between $1,075 and $1,175 per gold ounce and $2.75 to $2.95 per copper pound of production. The Company also expects an approximate 20 percent reduction in overhead expenses. Newmont will continue to execute its strategy of securing the gold franchise by delivering additional cost reductions through sustainable operational improvements.

The Company currently expects to invest approximately $1.3 to $1.4 billion in consolidated capital in 2014. Approximately 90 percent of this is allocated to sustaining capital. Projects that create value, lower cost and extend mine life, such as the Turf Vent Shaft in Nevada, will be prioritized, in keeping with the strategy to strengthen the portfolio. The Company continues to evaluate projects and spending to preserve its balance sheet and contribute to free cash flow.

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