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Newmont Announces Increased 2022 Mineral Reserves of 96 Million Gold Ounces and 68 Million Gold Equivalent Ounces

23.02.2023  |  Business Wire

Newmont Corporation (NYSE: NEM, TSX: NGT) reported higher gold Mineral Reserves ("reserves") of 96.1 million attributable ounces for 2022 compared to the Company's 92.8 million ounces at the end of 2021. Newmont has significant upside to other metals, including more than 15 billion pounds of copper reserves and nearly 600 million ounces of silver reserves.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230223005160/en/

PERCENTAGE OF GOLD RESERVES BY JURISDICTION

"In 2022, Newmont replaced depletion and grew reserves by nearly 4 percent as we continued to focus on extending mine life, developing districts and discovering new opportunities in the most favorable mining jurisdictions. Our diverse, global portfolio of operations and projects delivers steady production for at least the next decade, leading the industry with approximately six million gold ounces per year. Supported by the most extensive exploration program in the industry, our team is actively building a profitable and resilient production pipeline for the next several decades."
- Tom Palmer, President and Chief Executive Officer

2022 RESERVES & RESOURCES HIGHLIGHTS

  • Robust gold reserves of 96.1 million ounces
  • Over 90 percent of gold reserves in top-tier jurisdictions
  • Addition of 8.6 million ounces in 2022 primarily due to 4.4 million attributable ounces from additions at Pueblo Viejo and 2.8 million from exploration at Newmont's managed operations; further improved by 3.1 million ounces from Newmont's increase in ownership of Yanacocha to 100 percent in 2022
  • Underpinned by a strong base of operating sites with gold reserve life of 10 years or more, including Boddington, Tanami, Ahafo, Peñasquito, Cerro Negro, Merian, Pueblo Viejo and Nevada Gold Mines (NGM), and further enhanced by our six other managed mines and organic project pipeline
  • Significant gold reserves per share with 120 ounces per 1,000 shares
  • Measured & Indicated Gold Mineral Resources of 75.3 million ounces and Inferred Resources of 36.1 million ounces
  • Significant exposure to copper with 15.7 billion pounds in reserves, 17.9 billion pounds in Measured & Indicated resources and 8.6 billion pounds in Inferred resources
  • Additional exposure to other metals including silver, lead and zinc

PERCENTAGE OF GOLD RESERVES BY JURISDICTION1

Newmont's reserve base is a key differentiator with over 90 percent of gold reserves located in top-tier jurisdictions, an average reserve grade of 1.09 grams per tonne and an operating reserve life of more than 10 years at six managed sites and two non-managed joint ventures, with significant upside potential from a robust organic project pipeline. In addition, Newmont has substantial exposure to other metals, with 68 million gold equivalent ounces2 of reserves from copper, silver, lead, zinc and molybdenum.

PROVEN & PROBABLE GOLD RESERVES
In millions of ounces
2021 Gold Reserves

92.8

Additions

8.6

Acquisitions3

3.1

Net Revisions

(1.2

)

Depletion

(7.2

)

2022 Gold Reserves

96.1

For 2022, Newmont reported 96.1 million ounces of gold Mineral Reserves, a 3.6 percent increase from the prior year total of 92.8 million ounces. Additions of 8.6 million ounces and acquisitions3 of 3.1 million ounces were partially offset by depletion of 7.2 million ounces and unfavorable net revisions of 1.2 million ounces.

Additions before revisions of 8.6 million ounces through exploration and technical studies met the Company's target despite higher costs. Notable reserve additions for the year from Newmont's operating sites included:

  • Cerro Negro added 0.8 million ounces primarily due to drilling in the Eastern Districts
  • Merian added 0.5 million attributable ounces primarily due to drilling at the Merian 2 open pit
  • Tanami added 0.4 million ounces primarily due to drilling at Liberator and Auron
  • Ahafo North added 0.2 million ounces primarily due to drilling
  • Newmont's 40 percent interest in Pueblo Viejo added 4.4 million attributable ounces, and its 38.5 percent interest in NGM added 1.4 million attributable ounces

Net unfavorable revisions include 0.5 million ounces at Yanacocha due to updated models, technical assumptions and revised mine designs, as well as 0.2 million ounces at Merian and Éléonore due to revised technical assumptions and costs. Additional net negative revisions of 0.7 million ounces were attributable to NGM, mainly at Turquoise Ridge and Carlin. Negative revisions were partially offset by favorable revisions of 0.5 million ounces at Pueblo Viejo.

Newmont's 38.5 percent interest in NGM represented 18.6 million attributable ounces of gold reserves at year end, compared to 19.3 million ounces at the end of 2021. Newmont's 40 percent interest in Pueblo Viejo represented 8.2 million attributable ounces of gold reserves at year end, compared to 3.6 million ounces at the end of 2021.

Gold reserve grade improved 2 percent to 1.09 grams per tonne compared to 1.06 grams per tonne in the prior year, primarily due to higher grade reserves from the Company's 40 percent equity ownership in Pueblo Viejo and positive results from the Company's underground managed operations, including Cerro Negro, Tanami and Musselwhite, as well as increased equity ownership in Yanacocha.

MEASURED & INDICATED GOLD RESOURCES INFERRED GOLD RESOURCES
In millions of ounces In millions of ounces
2021 Gold Resources

68.3

2021 Gold Resources

33.2

Additions

2.8

Additions

2.6

Acquisitions3

8.2

Acquisitions3

4.3

Divestitures4

(1.8

)

Divestitures4

(0.4

)

Net Revisions

4.4

Net Revisions

(1.8

)

Conversions

(6.6

)

Conversions

(1.8

)

2022 Gold Resources

75.3

2022 Gold Resources

36.1

In 2022, Newmont reported Measured and Indicated Gold Mineral Resources of 75.3 million ounces, a 10 percent increase from the prior year total of 68.3 million ounces. Inferred Gold Mineral Resources totaled 36.1 million ounces, a 9 percent increase from the prior year total of 33.2 million ounces. In total, resource conversions to reserves were more than offset by a combination of acquisitions, additions and net positive revisions.

Measured and Indicated Gold Mineral Resources added through exploration programs were 2.8 million ounces and included notable additions before revisions of 0.5 million ounces at Ahafo South underground, 0.5 million ounces at Yanacocha, 0.4 million attributable ounces at NGM, 0.2 million ounces at Cerro Negro, 0.2 million ounces at Peñasquito and 0.2 million ounces at Ahafo North. Acquisitions added 8.2 million ounces, including 7.1 million ounces at Conga and 1.1 million ounces at Yanacocha, while the divestiture of Agua Rica had an impact of 1.8 million ounces.

Measured and Indicated Gold Mineral Resources reported net positive revisions of 4.4 million ounces primarily driven by 0.6 million ounces at Peñasquito, 0.5 million ounces at Tanami, 0.5 million ounces at CC&V, 0.5 million ounces at Musselwhite and 0.4 million ounces at Ahafo South underground. Additionally NGM added 1.4 million attributable ounces, primarily at Cortez and Carlin, and Pueblo Viejo added 0.5 million attributable ounces. Positive revisions were partially offset by negative revisions, including 0.4 million ounces at the Ahafo South open pit.

Inferred Gold Mineral Resources added through exploration programs were 2.6 million ounces and included notable additions before revisions of 0.4 million ounces at Cerro Negro, 0.4 million ounces at Ahafo South underground, 0.4 million ounces at Porcupine underground, 0.1 million ounces at Tanami and 0.1 million ounces at Éléonore. Additionally, NGM added 0.9 million attributable ounces. Acquisitions added 4.3 million ounces, including 2.6 million ounces at Yanacocha and 1.4 million ounces at Conga, while the divestiture of Agua Rica had an impact of 0.4 million ounces.

Inferred Gold Mineral Resources reported unfavorable net revisions of 1.8 million ounces, primarily driven by negative revisions of 0.3 million ounces at Ahafo South underground, 0.2 million ounces at Porcupine open pit, 0.1 million ounces at Ahafo South open pit and 0.1 million ounces at Éléonore. Additionally, Pueblo Viejo had negative revisions of 1.2 million attributable ounces. Negative revisions were partially offset by positive revisions of 0.2 million ounces at CC&V and 0.2 million attributable ounces at NGM.

Newmont's Measured and Indicated Gold Mineral Resource grade increased slightly to 0.67 grams per tonne compared to 0.66 grams per tonne in the prior year. Inferred Gold Mineral Resource grade of 0.70 grams per tonne increased slightly compared to 0.69 grams per tonne in the prior year.

OTHER METALS

In 2022, copper reserves increased slightly to 15.7 billion pounds from 15.1 billion pounds in the prior year, primarily due to increased equity at Yanacocha. Measure and Indicated copper resources increased slightly to 17.9 billion pounds from 17.8 billion pounds, primarily due to increased equity at Conga and Yanacocha. Inferred copper resources remained flat at 8.6 billion pounds as compared to the prior year.

Silver reserves increased to 593 million ounces from 568 million ounces in the prior year, primarily due to increased equity at Yanacocha. Measured and Indicated silver resources also increased to 500 million ounces from 422 million ounces in the prior year, primarily due to increased equity at Yanacocha and Conga. Inferred silver resources decreased to 152 million ounces from 163 million ounces in the prior year, primarily due to the divestiture of Agua Rica and resource conversion at Cerro Negro.

Lead reserves decreased to 2.3 billion pounds from 2.6 billion pounds in the prior year, and zinc reserves also decreased to 5.5 billion pounds from 6.3 billion pounds. These decreases were primarily due to depletion at Peñasquito. Measured and Indicated lead resources increased to 1.6 billion pounds from 1.2 billion pounds, while Inferred lead resources decreased to 440 million pounds from 480 million pounds in the prior year. Measured and Indicated zinc resources increased to 3.7 billion pounds from 2.7 billion pounds and Inferred zinc resources decreased to 1.0 billion pounds from 1.1 billion pounds in the prior year. The increases in Measured and Indicated lead and zinc resources were primarily due to positive revision at Peñasquito. The decreases in Inferred lead and zinc resources were primarily due to negative revisions and conversion at Peñasquito.

EXPLORATION OUTLOOK

Newmont's attributable exploration expenditure for managed operations is expected to be approximately $200 million in 2023 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 $25 million.

Geographically, the Company expects to invest approximately 32 percent in North America, 30 percent in South America, 18 percent in Africa and the remainder in Australia and other locations.

________________________________________________

1 North America includes 38.5 percent interest in Nevada Gold Mines; South America includes Newmont's 40 percent interest in Pueblo Viejo.
2 Gold Equivalent Ounces (GEOs) are calculated using 2022 Mineral Reserve pricing for Gold ($1,400/oz.), Copper ($3.50/lb.), Silver ($20.00/oz.), Lead ($1.00/lb.), and Zinc ($1.20/lb.) and Resource pricing for Gold ($1,600/oz.), Copper ($4.00/lb.), Silver ($23.00/oz.), Lead ($1.20/lb.), and Zinc ($1.45/lb.) and metallurgical recoveries for each metal on a site by site basis, as metal * [(metal price * metal recovery) / (gold price * gold recovery)].
3 In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% and Sumitomo's 5% noncontrolling interest, respectively.
4 In November 2022, Newmont sold its 18.75% ownership in Agua Rica.

GOLD RESERVE SENSITIVITY

A $100 increase in gold price would result in an approximate three percent increase in gold reserves while a $100 decrease in gold price would result in an approximate seven percent decrease in gold reserves. These sensitivities assume an oil price of $85 per barrel (WTI), Australian dollar exchange rate of $0.75 and Canadian dollar exchange rate of $0.80. These sensitivities assume all other inputs remain equal, including all cost and capital assumptions, which may impact the reality of these approximate estimates.

KEY RESERVE AND RESOURCE ASSUMPTIONS

At December 31,

2022

2021

Gold Reserves ($/oz)

$

1,400

$

1,200

Gold Resources ($/oz)

$

1,600

$

1,400

Copper Reserves ($/lb)

$

3.50

$

2.75

Copper Resources ($/lb)

$

4.00

$

3.25

Silver Reserves ($/oz)

$

20.00

$

20.00

Silver Resources ($/oz)

$

23.00

$

23.00

Lead Reserves ($/lb)

$

1.00

$

0.90

Lead Resources ($/lb)

$

1.20

$

1.10

Zinc Reserves ($/lb)

$

1.20

$

1.15

Zinc Resources ($/lb)

$

1.45

$

1.40

Australian Dollar (A$:US$)

$

0.75

$

0.75

Canadian Dollar (C$:US$)

$

0.80

$

0.77

West Texas Intermediate ($/bbl)

$

85

$

60

For additional details on Newmont's reported gold, copper, silver, lead, zinc and molybdenum Mineral Reserves and Mineral Resources, please refer to the tables at the end of this release.

RESERVE AND RESOURCE TABLES

Proven and probable reserves are based on extensive drilling, sampling, mine modeling and metallurgical testing from which we determined economic feasibility. The reference point for mineral reserves is the point of delivery to the process plant. Metal price assumptions, adjusted for our exchange rate assumption, are based on considering such factors as market forecasts, industry consensus and management estimates. 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 below list the average metallurgical recovery rate for each deposit, which takes into account the relevant processing methods. The cut-off grade, or lowest grade of mineralization considered economic to process, varies between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper, silver, lead, zinc or molybdenum extraction and type of milling or leaching facilities available. Reserve estimates may have non-material differences in comparison to our joint venture partners due to differences in classification and rounding methodology.

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, copper, silver, lead, zinc and molybdenum will be realized. Ounces of gold or silver or pounds of copper, lead, zinc 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, copper, silver, lead, zinc and molybdenum, as well as increased production costs or reduced metallurgical recovery rates, could render certain proven and probable reserves containing higher cost reserves 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. The reference point for mineral resources is in situ. Mineral resources are sub-divided, in order of increasing geological confidence, into inferred, indicated and measured categories. Ounces of gold and silver or pounds of copper, zinc, lead, and molybdenum included in the measured, indicated and inferred resources are those contained prior to losses during metallurgical treatment. The terms "measured resource," "indicated resource," and "inferred resource" mean that part of a mineral resource for which quantity and grade or quality are estimated on the basis of geological evidence and sampling that is considered to be comprehensive, adequate, or limited, respectively. 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.

We publish reserves annually, and will recalculate reserves at December 31, 2023, 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 2023.

Please refer to the reserves and resources cautionary statement at the end of the release.

Gold Reserves (1)

December 31, 2022

December 31, 2021

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Deposits/Districts

Newmont Share

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Metallurgical Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

North America

CC&V Open Pits

100

%

49,300

0.39

620

12,000

0.31

120

61,400

0.37

740

57

%

86,100

0.43

1,180

CC&V Leach Pads (4)(5)

100

%

-

-

-

32,600

0.78

820

32,600

0.78

820

56

%

31,200

0.81

810

Total CC&V, Colorado

49,300

0.39

620

44,600

0.66

940

94,000

0.52

1,560

56

%

117,300

0.53

1,990

Musselwhite, Canada (6)

100

%

3,400

5.48

590

7,000

5.89

1,320

10,400

5.76

1,920

96

%

9,500

5.77

1,770

Porcupine Underground (7)

100

%

1,800

8.50

500

700

8.47

190

2,500

8.49

690

92

%

3,200

7.46

770

Porcupine Open Pit (8)

100

%

2,600

1.60

130

31,900

1.44

1,480

34,500

1.46

1,610

93

%

39,600

1.44

1,830

Total Porcupine, Canada

4,400

4.44

630

32,600

1.59

1,670

37,000

1.93

2,300

93

%

42,800

1.89

2,600

Éléonore, Canada (9)

100

%

1,900

5.11

310

7,400

5.25

1,260

9,400

5.22

1,570

92

%

11,200

5.05

1,820

Peñasquito, Mexico (10)(17)

100

%

104,500

0.58

1,960

212,000

0.51

3,450

316,500

0.53

5,410

69

%

362,000

0.54

6,330

TOTAL NORTH AMERICA

163,500

0.78

4,110

303,700

0.89

8,640

467,200

0.85

12,750

79

%

542,800

0.83

14,510

South America

Yanacocha Open Pits (11)

100

%

27,500

0.71

630

119,000

0.72

2,750

146,500

0.72

3,380

57

%

84,700

0.68

1,840

Yanacocha Underground (12)

100

%

-

-

-

12,300

6.06

2,400

12,300

6.06

2,400

97

%

7,000

6.20

1,390

Total Yanacocha, Peru (13)

27,500

0.71

630

131,300

1.22

5,140

158,800

1.13

5,780

73

%

91,700

1.10

3,230

Merian, Suriname (14)

75

%

31,000

1.16

1,150

73,800

1.16

2,750

104,800

1.16

3,900

93

%

101,600

1.22

4,000

Cerro Negro, Argentina (15)

100

%

1,600

9.46

500

7,800

10.13

2,530

9,400

10.02

3,030

95

%

9,000

8.89

2,560

Pueblo Viejo Open Pits

40

%

23,500

2.29

1,730

55,000

2.15

3,800

78,500

2.19

5,530

90

%

13,200

2.28

970

Pueblo Viejo Stockpiles (16)

40

%

-

-

-

38,200

2.17

2,670

38,200

2.17

2,670

90

%

37,400

2.20

2,640

Total Pueblo Viejo, Dominican Republic (17)(18)

23,500

2.29

1,730

93,100

2.16

6,470

116,600

2.19

8,200

90

%

50,600

2.22

3,610

NuevaUnión, Chile (19)(28)

50

%

-

-

-

341,100

0.47

5,110

341,100

0.47

5,110

66

%

341,100

0.47

5,110

Norte Abierto, Chile (20)(28)

50

%

-

-

-

598,800

0.60

11,620

598,800

0.60

11,620

74

%

598,800

0.60

11,620

TOTAL SOUTH AMERICA

83,700

1.49

4,010

1,245,800

0.84

33,630

1,329,500

0.88

37,640

80

%

1,192,800

0.79

30,130

Australia

Boddington Open Pit

100

%

237,400

0.68

5,190

209,300

0.64

4,300

446,700

0.66

9,490

85

%

476,500

0.68

10,440

Boddington Stockpiles (16)

100

%

2,000

0.71

50

76,200

0.43

1,040

78,300

0.43

1,090

80

%

81,800

0.44

1,150

Total Boddington, Western Australia (17)(21)

239,400

0.68

5,240

285,500

0.58

5,350

524,900

0.63

10,580

84

%

558,300

0.65

11,590

Tanami, Northern Territory (22)

100

%

11,300

5.05

1,840

21,600

5.49

3,820

33,000

5.34

5,660

98

%

34,800

5.15

5,780

TOTAL AUSTRALIA

250,800

0.88

7,080

307,100

0.93

9,160

557,900

0.91

16,240

89

%

593,100

0.91

17,370

Africa

Ahafo South Open Pits (23)

100

%

9,000

2.42

700

38,600

1.67

2,070

47,600

1.81

2,770

90

%

51,500

1.83

3,030

Ahafo South Underground (24)

100

%

9,300

3.68

1,100

13,300

2.62

1,130

22,600

3.06

2,230

94

%

22,100

3.14

2,240

Ahafo South Stockpiles (16)

100

%

22,100

0.91

640

-

-

-

22,100

0.91

640

90

%

28,300

0.92

830

Total Ahafo South, Ghana (17)

40,400

1.89

2,450

51,900

1.92

3,200

92,300

1.90

5,650

92

%

101,900

1.86

6,100

Ahafo North, Ghana (25)

100

%

-

-

-

50,100

2.37

3,820

50,100

2.37

3,820

91

%

46,300

2.40

3,570

Akyem Open Pit (26)

100

%

14,300

1.56

720

8,000

1.82

470

22,300

1.66

1,190

91

%

26,700

1.72

1,470

Akyem Stockpiles (16)

100

%

11,900

0.71

270

-

-

-

11,900

0.71

270

92

%

13,900

0.78

350

Total Akyem, Ghana

26,200

1.18

990

8,000

1.82

470

34,200

1.33

1,460

91

%

40,600

1.40

1,820

TOTAL AFRICA

66,600

1.61

3,440

110,100

2.12

7,490

176,700

1.92

10,920

91

%

188,800

1.89

11,490

Nevada

NGM Open Pits

38.5

%

8,300

1.73

460

151,100

0.96

4,650

159,400

1.00

5,110

76

%

129,500

1.26

5,250

NGM Stockpiles (16)

38.5

%

10,100

2.05

670

15,000

2.51

1,210

25,100

2.32

1,880

79

%

29,200

2.33

2,190

NGM Underground

38.5

%

13,700

9.72

4,290

27,500

8.26

7,320

41,300

8.75

11,610

88

%

41,600

8.90

11,900

Total NGM, Nevada (17)(27)

32,100

5.24

5,410

193,700

2.12

13,180

225,800

2.56

18,590

84

%

200,300

3.00

19,340

TOTAL NEVADA

32,100

5.24

5,410

193,700

2.12

13,180

225,800

2.56

18,590

84

%

200,300

3.00

19,340

TOTAL NEWMONT

596,700

1.25

24,050

2,160,400

1.04

72,100

2,757,100

1.09

96,140

83

%

2,717,800

1.06

92,840

(1)

Gold reserves, at sites in which Newmont is the operator for 2022 and 2021 were estimated at a gold price of $1,400 and 1,200 per ounce, respectively, unless otherwise noted. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.

(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 2022 reserves were as follows: 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 2022 reserves not less than 3.10 gram per tonne.

(7)

Cut-off grade utilized in 2022 reserves not less than 5.00 gram per tonne.

(8)

Cut-off grade utilized in 2022 reserves not less than 0.51 gram per tonne.

(9)

Cut-off grade utilized in 2022 reserves not less than 4.00 gram per tonne.

(10)

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

(11)

Gold cut-off grades utilized in 2022 reserves were as follows: oxide leach material not less than 0.12 gram per tonne and refractory mill material not less than 1.26 gram per tonne.

(12)

Gold cut-off grades utilized in 2022 were as follows: oxide mill material not less than 2.63 gram per tonne and refractory mill material varies with level of copper and silver credits.

(13)

In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. Refer to Note 1 to Newmont's Consolidated Financial Statements for further information.

(14)

Cut-off grade utilized in 2022 reserves not less than 0.31 gram per tonne.

(15)

Cut-off grade utilized in 2022 reserves not less than 4.30 gram per tonne.

(16)

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.

(17)

Amounts presented herein have been rounded to the nearest 10,000 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

(18)

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.

(19)

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

(20)

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

(21)

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

(22)

Cut-off grade utilized in 2022 reserves not less than 2.30 gram per tonne.

(23)

Cut-off grade utilized in 2022 reserves not less than 0.60 gram per tonne.

(24)

Cut-off grade utilized in 2022 reserves not less than 1.60 gram per tonne.

(25)

Cut-off grade utilized in 2022 reserves not less than 0.56 gram per tonne.

(26)

Cut-off grade utilized in 2022 reserves not less than 0.52 gram per tonne.

(27)

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

(28)

Currently included in Corporate and Other in Note 3 of Newmont's Consolidated Financial Statements.

Gold Resources (1)(2) - December 31, 2022

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Metallurgical Recovery (3)

North America

CC&V,Colorado

100

%

79,700

0.38

980

42,300

0.32

440

122,000

0.36

1,420

32,200

0.34

350

59

%

Musselwhite, Canada

100

%

1,300

3.92

170

2,600

3.93

330

3,900

3.93

490

3,000

4.15

410

95

%

Porcupine Underground

100

%

300

6.69

70

1,000

8.64

270

1,300

8.15

340

1,800

8.08

480

92

%

Porcupine Open Pit

100

%

200

0.51

-

73,000

1.53

3,600

73,200

1.53

3,600

66,000

1.36

2,890

91

%

Total Porcupine, Canada

500

4.36

70

73,900

1.63

3,860

74,500

1.64

3,940

67,900

1.54

3,370

91

%

Éléonore, Canada

100

%

400

5.05

70

2,100

5.10

350

2,500

5.09

420

2,600

5.45

460

92

%

Peñasquito, Mexico

100

%

47,400

0.25

390

263,500

0.26

2,190

311,000

0.26

2,570

84,700

0.41

1,110

69

%

Noche Buena, Mexico

50

%

-

-

-

19,900

0.37

240

19,900

0.37

240

1,600

0.21

10

50

%

Coffee, Canada

100

%

-

-

-

53,900

1.23

2,140

53,900

1.23

2,140

7,200

1.01

230

80

%

Galore Creek, Canada (4)

50

%

212,800

0.29

2,010

385,600

0.22

2,710

598,400

0.25

4,720

118,900

0.19

720

75

%

TOTAL NORTH AMERICA

342,300

0.34

3,700

843,900

0.45

12,230

1,186,200

0.42

15,930

318,100

0.65

6,650

79

%

South America

Conga, Peru (10)

100

%

-

-

-

693,800

0.65

14,590

693,800

0.65

14,590

230,500

0.39

2,880

75

%

Yanacocha Open Pit

100

%

13,500

0.38

170

114,900

0.42

1,570

128,400

0.42

1,730

189,700

0.79

4,830

66

%

Yanacocha Underground

100

%

500

4.07

70

6,200

4.70

940

6,700

4.65

1,010

3,400

4.99

550

97

%

Total Yanacocha, Peru (10)

14,100

0.52

240

121,100

0.64

2,510

135,100

0.63

2,740

193,100

0.87

5,380

72

%

Merian, Suriname

75

%

5,600

0.99

180

35,300

1.26

1,430

40,900

1.22

1,610

37,000

0.86

1,020

89

%

Cerro Negro Underground

100

%

200

6.11

30

1,500

7.33

360

1,700

7.22

390

5,700

6.19

1,140

95

%

Cerro Negro Open Pit

100

%

1,200

3.28

130

1,200

3.15

120

2,400

3.22

250

300

2.46

20

90

%

Total Cerro Negro, Argentina

100

%

1,400

3.60

160

2,700

5.49

480

4,100

4.86

630

6,000

6.00

1,160

94

%

Pueblo Viejo, Dominican Republic (5)(11)

40

%

7,300

1.43

340

33,200

1.51

1,610

40,600

1.49

1,950

3,000

1.77

170

88

%

NuevaUnión, Chile (6)

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 (7)

50

%

77,200

0.61

1,510

596,900

0.49

9,320

674,200

0.50

10,820

369,600

0.37

4,360

76

%

TOTAL SOUTH AMERICA

110,400

0.70

2,490

1,601,400

0.63

32,180

1,711,700

0.63

34,670

1,079,200

0.52

18,030

76

%

Australia

Boddington, Western Australia

100

%

92,800

0.55

1,630

167,400

0.54

2,900

260,200

0.54

4,530

2,800

0.51

50

83

%

Tanami Open Pit

100

%

9,400

1.67

500

23,800

1.47

1,120

33,200

1.53

1,630

4,200

1.13

150

90

%

Tanami Underground

100

%

1,700

3.26

180

5,400

4.29

750

7,100

4.04

920

8,800

5.19

1,460

97

%

Total Tanami, Northern Territory

100

%

11,000

1.91

680

29,200

1.99

1,870

40,200

1.97

2,550

13,000

3.88

1,620

94

%

TOTAL AUSTRALIA

103,800

0.69

2,310

196,600

0.76

4,770

300,400

0.73

7,080

15,800

3.28

1,660

88

%

Africa

Ahafo South

100

%

200

0.56

-

20,000

1.09

700

20,200

1.09

710

10,200

1.29

420

86

%

Ahafo Underground

100

%

-

-

-

24,700

3.53

2,810

24,700

3.53

2,810

11,000

3.44

1,220

92

%

Total Ahafo South, Ghana

200

0.56

-

44,700

2.44

3,510

44,900

2.43

3,510

21,200

2.41

1,640

91

%

Ahafo North Open Pits, Ghana

100

%

2,900

1.28

120

12,700

1.94

790

15,700

1.81

910

10,000

1.50

490

92

%

Akyem Open Pits

100

%

1,000

0.70

20

700

0.67

20

1,700

0.69

40

1,800

1.18

70

92

%

Akyem Underground

100

%

-

-

-

8,300

3.92

1,050

8,300

3.92

1,050

5,300

3.27

560

92

%

Total Akyem, Ghana

1,000

0.70

20

9,000

3.68

1,060

10,000

3.38

1,090

7,100

2.74

620

92

%

TOTAL AFRICA

4,100

1.10

150

66,400

2.51

5,360

70,500

2.43

5,510

38,300

2.23

2,750

91

%

Nevada

NGM Open Pits and Stockpiles

38.5

%

23,200

1.89

1,410

175,200

0.99

5,600

198,400

1.10

7,000

129,900

0.69

2,880

73

%

NGM Underground

38.5

%

9,800

6.48

2,040

16,600

5.84

3,110

26,400

6.08

5,150

19,500

6.63

4,150

86

%

Total NGM, Nevada (9)

33,000

3.25

3,450

191,700

1.41

8,700

224,800

1.68

12,160

149,300

1.47

7,040

79

%

TOTAL NEVADA

33,000

3.25

3,450

191,700

1.41

8,700

224,800

1.68

12,160

149,300

1.47

7,040

79

%

TOTAL NEWMONT

593,600

0.63

12,080

2,900,000

0.68

63,250

3,493,600

0.67

75,330

1,600,700

0.70

36,130

79

%

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

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Metallurgical Recovery (3)

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 (11)

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

-

60

54,500

1.19

2,080

55,500

1.20

2,140

6,800

1.07

230

80

%

Galore Creek, Canada (4)

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

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 (5)

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 (6)

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 (7)

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 (8)

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 (11)

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 (11)

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, Nevada (9)(11)

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. Amounts presented may not recalculate in total due to rounding.

(2)

Resources, at sites in which Newmont is the operator, are estimated at a gold price of $1,600 and $1,400 per ounce for 2022 and 2021, respectively. Resources provided by other operators may use pricing that differs. 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)

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)

Project is currently undeveloped. Resource estimates provided by Teck Resources, the Galore Creek joint venture partner.

(5)

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

(6)

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

(7)

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

(8)

Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture. In November 2022, the Company sold its 18.75% ownership in Agua Rica. Refer to Note 8 to Newmont's Consolidated Financial Statements for further information.

(9)

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

(10)

In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. Refer to Note 1 to Newmont's Consolidated Financial Statements for further information.

(11)

Amounts presented herein have been rounded to the nearest 10,000 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

Copper Reserves (1)

December 31, 2022

December 31, 2021

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Deposits/Districts

Newmont Share

Tonnage (2)

(000 tonnes)

Grade

(Cu %)

Pounds (3) (millions)

Tonnage (2)

(000 tonnes)

Grade

(Cu %)

Pounds (3) (millions)

Tonnage (2)

(000 tonnes)

Grade

(Cu %)

Pounds (3) (millions)

Metallurgical Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(Cu %)

Pounds (3) (millions)

South America

Yanacocha Open Pits and Underground, Peru (4)(11)

100

%

-

-

%

-

111,100

0.63

%

1,530

111,100

0.63

%

1,530

83

%

57,700

0.61

%

780

NuevaUnión, Chile (5)(6)

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)(7)

50

%

-

-

%

-

598,800

0.22

%

2,890

598,800

0.22

%

2,890

87

%

598,800

0.22

%

2,890

TOTAL SOUTH AMERICA

-

-

%

-

1,827,900

0.35

%

14,220

1,827,900

0.35

%

14,220

87

%

1,774,500

0.34

%

13,470

Australia

Boddington Open Pit, Western Australia (8)(12)

100

%

237,400

0.10

%

510

209,300

0.11

%

500

446,700

0.10

%

1,010

82

%

476,500

0.11

%

1,130

Boddington Stockpiles, Western Australia (9)(12)

100

%

2,000

0.13

%

10

76,200

0.09

%

150

78,300

0.09

%

150

74

%

81,700

0.09

%

160

TOTAL AUSTRALIA

239,400

0.10

%

520

285,500

0.10

%

640

524,900

0.10

%

1,160

81

%

558,200

0.11

%

1,290

Nevada

NGM, Nevada (10)(12)

38.5

%

7,000

0.16

%

30

81,700

0.16

%

300

88,700

0.16

%

320

65

%

87,100

0.17

%

330

TOTAL NEVADA

7,000

0.16

%

30

81,700

0.16

%

300

88,700

0.16

%

320

65

%

87,100

0.17

%

330

TOTAL NEWMONT

246,400

0.10

%

540

2,195,200

0.31

%

15,160

2,441,500

0.29

%

15,710

86

%

2,419,800

0.28

%

15,090

(1)

Copper reserves, at sites in which Newmont is the operator, for 2022 and 2021 were estimated at a copper price of $3.50 and $2.75 per pound, respectively. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.

(2)

Tonnages include allowances for losses resulting from mining methods. 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 Sulfides 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)

Currently included in Corporate and Other in Note 3 of Newmont's Consolidated Financial Statements.

(7)

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

(8)

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

(9)

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.

(10)

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

(11)

In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. Refer to Note 1 to Newmont's Consolidated Financial Statements for further information.

(12)

Amounts presented herein have been rounded to the nearest 10 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

Copper Resources (1)(2) - December 31, 2022

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Cu%)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Cu%)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Cu%)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Cu%)

Pounds

(millions)

Metallurgical Recovery (3)

North America

Galore Creek, Canada (4)

50

%

212,800

0.44

%

2,060

385,600

0.47

%

4,020

598,400

0.46

%

6,080

118,900

0.26

%

690

93

%

TOTAL NORTH AMERICA

212,800

0.44

%

2,060

385,600

0.47

%

4,020

598,400

0.46

%

6,080

118,900

0.26

%

690

93

%

South America

Conga, Peru (9)

100

%

-

-

%

-

693,800

0.26

%

3,970

693,800

0.26

%

3,970

230,500

0.19

%

950

84

%

Yanacocha Open Pits

100

%

-

-

%

-

94,600

0.39

%

810

94,600

0.39

%

810

36,400

0.39

%

310

81

%

Yanacocha Underground

100

%

500

0.18

%

-

6,200

0.12

%

20

6,700

0.12

%

20

3,400

0.13

%

10

97

%

Total Yanacocha, Peru (9)

500

0.18

%

-

100,800

0.37

%

830

101,300

0.37

%

830

39,700

0.37

%

320

81

%

NuevaUnión, Chile (5)

50

%

164,300

0.19

%

700

349,900

0.34

%

2,650

514,100

0.30

%

3,360

602,200

0.39

%

5,170

89

%

Norte Abierto, Chile (6)

50

%

57,600

0.24

%

310

551,300

0.19

%

2,340

608,900

0.20

%

2,640

361,800

0.18

%

1,450

90

%

TOTAL SOUTH AMERICA

222,400

0.21

%

1,010

1,695,700

0.26

%

9,790

1,918,100

0.26

%

10,800

1,234,200

0.29

%

7,890

87

%

Australia

Boddington, Western Australia

100

%

92,800

0.11

%

230

167,400

0.11

%

420

260,200

0.11

%

650

2,800

0.08

%

10

82

%

TOTAL AUSTRALIA

92,800

0.11

%

230

167,400

0.11

%

420

260,200

0.11

%

650

2,800

0.08

%

10

82

%

Nevada

NGM, Nevada (8)

38.5

%

2,600

0.14

%

10

116,900

0.14

%

350

119,500

0.14

%

360

19,900

0.13

%

60

65

%

TOTAL NEVADA

2,600

0.14

%

10

116,900

0.14

%

350

119,500

0.14

%

360

19,900

0.13

%

60

65

%

TOTAL NEWMONT

530,600

0.28

%

3,310

2,365,500

0.28

%

14,580

2,896,100

0.28

%

17,890

1,375,800

0.28

%

8,640

88

%

Copper Resources at December 31, 2021 (1)(2)

Measured Resources

Indicated Resources

Measured and Indicated Resources

Inferred Resources

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Cu%)

Pounds (millions)

Tonnage

(000 tonnes)

Grade

(Cu%)

Pounds (millions)

Tonnage

(000 tonnes)

Grade

(Cu%)

Pounds (millions)

Tonnage

(000 tonnes)

Grade

(Cu%)

Pounds (millions)

Metallurgical

Recovery (3)

North America

Galore Creek, Canada (4)

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

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

-

-

%

-

50,400

0.38

%

420

50,400

0.38

%

420

20,600

0.37

%

170

81

%

NuevaUnión, Chile (5)

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 (6)

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 (7)

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 (10)

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 (8)(10)

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. Amounts presented may not recalculate in total due to rounding.

(2)

Resources, at sites in which Newmont is the operator, are estimated at a copper price of $4.00 and $3.25 per pound for 2022 and 2021, respectively. Resources provided by other operators may use pricing that differs. Tonnage amounts have been rounded to the 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)

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

(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. In November 2022, the Company sold its 18.75% ownership in Agua Rica. Refer to Note 8 of Newmont's Consolidated Financial Statements for further information.

(8)

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

(9)

In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. Refer to Note 1 to Newmont's Consolidated Financial Statements for further information.

(10)

Amounts presented herein have been rounded to the nearest 10 million for pounds and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

Silver Reserves (1)

December 31, 2022

December 31, 2021

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Deposits/Districts

Newmont Share

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

Metallurgical Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(g/tonne)

Ounces (3)

(000)

North America

Peñasquito Open Pits, Mexico (4)(15)

100

%

103,900

38.00

126,990

184,500

33.04

196,020

288,500

34.82

323,000

86

%

326,300

34.73

364,410

Peñasquito Stockpiles, Mexico (5)(15)

100

%

500

37.88

660

27,500

25.33

22,390

28,000

25.57

23,050

86

%

35,700

25.67

29,480

TOTAL NORTH AMERICA

104,500

38.00

127,640

212,000

32.04

218,410

316,500

34.00

346,050

86

%

362,000

33.84

393,890

South America

Yanacocha Open Pits and Underground, Peru (6)

100

%

-

-

-

93,400

19.90

59,760

93,400

19.90

59,760

54

%

50,100

18.80

30,280

Yanacocha Stockpiles and Leach Pads, Peru (5)(7)

100

%

2,800

31.48

2,820

93,600

-

24,190

96,400

8.71

27,010

13

%

48,700

8.85

13,850

Total Yanacocha, Peru (14)

2,800

31.48

2,820

187,000

13.96

83,950

189,800

14.22

86,770

41

%

98,800

13.85

44,130

Cerro Negro, Argentina (8)

100

%

1,600

74.72

3,940

7,800

62.31

15,550

9,400

64.47

19,490

75

%

8,900

57.51

16,550

Pueblo Viejo, Dominican Republic, Open Pits (9)

40

%

23,500

12.94

9,780

55,000

12.84

22,680

78,500

12.87

32,460

65

%

13,200

11.65

4,950

Pueblo Viejo, Dominican Republic, Stockpiles (5)(9)

40

%

-

-

-

38,200

15.10

18,520

38,200

15.10

18,520

65

%

37,400

15.49

18,630

Total Pueblo Viejo, Dominican

Republic (15)

23,500

12.94

9,780

93,100

13.76

41,200

116,600

13.60

50,980

65

%

50,600

14.49

23,580

NuevaUnión, Chile (10)(11)

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)(12)

50

%

-

-

-

598,800

1.52

29,340

598,800

1.52

29,340

74

%

598,800

1.52

29,340

TOTAL SOUTH AMERICA

27,900

18.41

16,540

2,004,700

3.37

217,210

2,032,600

3.58

233,750

58

%

1,875,100

2.67

160,770

Nevada

NGM, Nevada (13)(15)

38.5

%

5,300

7.46

1,280

60,100

6.24

12,060

65,500

6.34

13,340

38

%

65,200

6.43

13,480

TOTAL NEVADA

5,300

7.46

1,280

60,100

6.24

12,060

65,500

6.34

13,340

38

%

65,200

6.43

13,480

TOTAL NEWMONT

137,800

32.84

145,460

2,276,900

6.12

447,680

2,414,600

7.64

593,140

74

%

2,302,300

7.68

568,140

(1)

Silver reserves, at sites in which Newmont is the operator, for 2022 and 2021 were estimated at a silver price of $20 per ounce. Reserves provided by other operators may use pricing that differs. Amounts presented may not recalculate in total due to rounding.

(2)

Tonnages include allowances for losses resulting from mining methods. Tonnages are rounded to 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)

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

(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)

Currently included in Corporate and Other in Note 3 of Newmont's Consolidated Financial Statements.

(12)

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

(13)

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

(14)

In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. Refer to Note 1 to Newmont's Consolidated Financial Statements for further information.

(15)

Amounts presented herein have been rounded to the nearest 10,000 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

Silver Resources (1)(2) - December 31, 2022

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Metallurgical Recovery (3)

North America

Peñasquito, Mexico

100

%

47,400

23.94

36,510

263,500

23.99

203,240

311,000

23.98

239,740

84,700

27.24

74,220

86

%

Noche Buena, Mexico

50

%

-

-

-

19,900

13.99

8,970

19,900

13.99

8,970

1,600

10.98

550

25

%

Galore Creek, Canada (4)

50

%

212,800

4.08

27,950

385,600

4.77

59,100

598,400

4.52

87,040

118,900

2.60

9,940

73

%

TOTAL NORTH AMERICA

260,300

7.70

64,460

669,100

12.61

271,300

929,300

11.24

335,750

205,200

12.84

84,700

82

%

South America

Conga, Peru (10)

100

%

-

0.00

-

693,800

2.06

45,910

693,800

2.06

45,910

175,000

1.13

6,330

70

%

Yanacocha Open Pits

100

%

12,500

3.30

1,330

108,100

11.11

38,610

120,600

10.30

39,930

29,600

12.52

11,920

41

%

Yanacocha Underground

100

%

500

0.37

10

6,200

37.02

7,350

6,700

34.23

7,350

3,400

40.45

4,390

83

%

Total Yanacocha, Peru (10)

13,000

3.19

1,330

114,200

12.51

45,950

127,200

11.56

47,290

33,000

15.38

16,310

49

%

Cerro Negro Underground

100

%

200

42.43

210

1,500

51.31

2,490

1,700

50.51

2,690

5,700

35.10

6,450

76

%

Cerro Negro Open Pit

100

%

1,200

6.77

260

1,200

6.63

250

2,400

6.70

520

300

6.68

70

60

%

Total Cerro Negro, Argentina

1,400

10.72

470

2,700

31.64

2,740

4,100

24.64

3,210

6,000

33.66

6,520

75

%

Pueblo Viejo, Dominican Republic (5)(11)

40

%

7,300

7.68

1,810

33,200

8.28

8,840

40,600

8.17

10,650

3,000

10.49

1,030

74

%

NuevaUnión, Chile (6)

50

%

164,300

0.96

5,080

349,900

1.19

13,370

514,100

1.12

18,440

602,200

1.16

22,530

66

%

Norte Abierto, Chile (7)

50

%

77,200

1.20

2,990

596,900

1.07

20,550

674,200

1.09

23,540

369,600

0.95

11,340

78

%

TOTAL SOUTH AMERICA

263,200

1.38

11,680

1,790,700

2.39

137,370

2,053,900

2.26

149,050

1,188,900

1.68

64,060

64

%

Nevada

NGM, Nevada (9)

38.5

%

2,400

5.33

410

81,700

5.46

14,340

84,100

5.46

14,760

18,700

5.57

3,350

38

%

TOTAL NEVADA

2,400

5.33

410

81,700

5.46

14,340

84,100

5.46

14,760

18,700

5.57

3,350

38

%

TOTAL NEWMONT

525,900

4.53

76,550

2,541,500

5.18

423,010

3,067,400

5.07

499,560

1,412,800

3.35

152,120

75

%

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

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Tonnage

(000 tonnes)

Grade

(g/tonne)

Ounces

(000)

Metallurgical Recovery (3)

North America

Peñasquito, Mexico (11)

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

%

-

-

-

21,000

13.94

9,400

21,000

13.94

9,400

1,600

11.08

570

25

%

Galore Creek, Canada (4)

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

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

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 (5)

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

74

%

NuevaUnión, Chile (6)

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 (7)

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 (8)

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 (9)(11)

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. Amounts presented may not recalculate in total due to rounding.

(2)

Resources, at sites in which Newmont is the operator, are estimated at a silver price of $23 per ounce for 2022 and 2021. Resources provided by other operators may use pricing that differs. Tonnage amounts have been 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)

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

(5)

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

(6)

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

(7)

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

(8)

Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture. In November 2022, the Company sold its 18.75% ownership in Agua Rica. Refer to Note 8 of Newmont's Consolidated Financial Statements for further information.

(9)

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

(10)

In 2022, the Company increased its ownership interest in Yanacocha to 100% by acquiring Buenaventura's 43.65% noncontrolling interest and Sumitomo's 5% noncontrolling interest. Refer to Note 1 to Newmont's Consolidated Financial Statements for further information.

(11)

Amounts presented herein have been rounded to the nearest 10,000 for ounces and 100,000 for tonnes and therefore may not agree to the respective Technical Report Summaries provided for certain properties as provided under exhibit 96.

Lead Reserves (1)

December 31, 2022

December 31, 2021

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Deposits/Districts

Newmont

Share

Tonnage (2)

(000 tonnes)

Grade

(Pb %)

Pounds (3)

(millions)

Tonnage (2)

(000 tonnes)

Grade

(Pb %)

Pounds (3)

(millions)

Tonnage (2)

(000 tonnes)

Grade

(Pb %)

Pounds (3)

(millions)

Metallurgical Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(Pb %)

Pounds (3)

(millions)

North America

Peñasquito Open Pits, Mexico (4)

100

%

103,900

0.36

%

830

184,500

0.31

%

1,270

288,500

0.33

%

2,090

72

%

326,300

0.32

%

2,320

Peñasquito Stockpiles, Mexico (5)

100

%

500

0.16

%

-

27,500

0.33

%

200

28,000

0.33

%

200

72

%

35,700

0.33

%

260

TOTAL NEWMONT

104,500

0.36

%

830

212,000

0.31

%

1,470

316,500

0.33

%

2,300

72

%

362,000

0.32

%

2,580

(1)

Lead reserves for 2022 and 2021 were estimated at a lead price of $1.00 and $0.90 per pound, respectively. Amounts presented may not recalculate in total due to rounding.

(2)

Tonnages include allowances for losses resulting from mining methods. 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)

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

Lead Resources (1)(2) - December 31, 2022

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Pb %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Pb %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Pb %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Pb %)

Pounds

(millions)

Metallurgical Recovery (3)

North America

Peñasquito, Mexico

100

%

47,400

0.26

%

270

263,500

0.23

%

1,360

311,000

0.24

%

1,630

84,700

0.23

%

440

72

%

TOTAL NEWMONT

47,400

0.26

%

270

263,500

0.23

%

1,360

311,000

0.24

%

1,630

84,700

0.23

%

440

72

%

Lead Resources (1)(2)(4) - December 31, 2021

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Pb %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Pb %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Pb %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Pb %)

Pounds

(millions)

Metallurgical Recovery (3)

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 are estimated at a lead price of $1.20 and $1.10 per pound for 2022 and 2021, respectively. Tonnage amounts have been rounded to the 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)

Amounts presented herein have been rounded to the nearest 10 million for pounds and 100,000 for tonnes and therefore may not agree to the Technical Report Summary provided under exhibit 96.

Zinc Reserves (1)

December 31, 2022

December 31, 2021

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Deposits/Districts

Newmont

Share

Tonnage (2)

(000 tonnes)

Grade

(Zn %)

Pounds (3)

(millions)

Tonnage (2)

(000 tonnes)

Grade

(Zn %)

Pounds (3)

(millions)

Tonnage (2)

(000 tonnes)

Grade

(Zn %)

Pounds (3)

(millions)

Metallurgical

Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(Zn %)

Pounds (3)

(millions)

North America

Peñasquito Open Pits, Mexico (4)

100

%

103,900

0.94

%

2,160

184,500

0.76

%

3,080

288,500

0.82

%

5,240

81

%

326,300

0.81

%

5,850

Peñasquito Stockpiles, Mexico (5)

100

%

500

0.95

%

10

27,500

0.46

%

280

28,000

0.47

%

290

81

%

35,700

0.50

%

400

TOTAL NEWMONT

104,500

0.94

%

2,180

212,000

0.72

%

3,360

316,500

0.79

%

5,540

81

%

362,000

0.78

%

6,250

(1)

Zinc reserves for 2022 and 2021 were estimated at a zinc price of $1.20 and $1.15 per pound, respectively. Amounts presented may not recalculate in total due to rounding.

(2)

Tonnages include allowances for losses resulting from mining methods. 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)

Zinc cut-off grade varies with level of gold, silver and lead 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 pounds exceed 100 million and are greater than 5% of the total site-reported reserves.

Zinc Resources (1)(2) - December 31, 2022

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Zn %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Zn %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Zn %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Zn %)

Pounds

(millions)

Metallurgical Recovery (3)

North America

Peñasquito, Mexico

100

%

47,400

0.62

%

650

263,500

0.53

%

3,080

311,000

0.54

%

3,740

84,700

0.53

%

1,000

81

%

TOTAL NEWMONT

47,400

0.62

%

650

263,500

0.53

%

3,080

311,000

0.54

%

3,740

84,700

0.53

%

1,000

81

%

Zinc Resources (1)(2)(4) - December 31, 2021

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Zn %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Zn %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Zn %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Zn %)

Pounds

(millions)

Metallurgical Recovery (3)

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 are estimated at a zinc price of $1.45 and $1.40 per pound for 2022 and 2021, respectively. Tonnage amounts have been rounded to the 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)

Amounts presented herein have been rounded to the nearest 10 million for pounds and 100,000 for tonnes and therefore may not agree to the Technical Report Summary provided under exhibit 96.

Molybdenum Reserves (1)

December 31, 2022

December 31, 2021

Proven Reserves

Probable Reserves

Proven and Probable Reserves

Proven and Probable Reserves

Deposits/Districts

Newmont

Share

Tonnage (2)

(000 tonnes)

Grade

(Mo %)

Pounds (3)

(millions)

Tonnage (2)

(000 tonnes)

Grade

(Mo %)

Pounds (3)

(millions)

Tonnage (2)

(000 tonnes)

Grade

(Mo %)

Pounds (3)

(millions)

Metallurgical

Recovery (3)

Tonnage (2)

(000 tonnes)

Grade

(Mo %)

Pounds (3)

(millions)

South America

NuevaUnión, Chile (4)

50

%

-

-

%

-

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)

Reserves estimates were estimated based on prices set by the NuevaUnión joint venture. The project is currently undeveloped.

(2)

Tonnages include allowances for losses resulting from mining methods. 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)

Currently included in Corporate and Other in Note 3 of Newmont's Consolidated Financial Statements.

Molybdenum Resources (1)(2) - December 31, 2022

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Mo %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Mo %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Mo %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Mo %)

Pounds

(millions)

Metallurgical Recovery (3)

South America

NuevaUnión, Chile (4)

50

%

159,500

0.01

%

20

231,500

0.01

%

40

391,000

0.01

%

70

362,300

0.01

%

100

52

%

TOTAL NEWMONT

159,500

0.01

%

20

231,500

0.01

%

40

391,000

0.01

%

70

362,300

0.01

%

100

52

%

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

Measured Resource

Indicated Resource

Measured and Indicated Resource

Inferred Resource

Deposits/Districts

Newmont

Share

Tonnage

(000 tonnes)

Grade

(Mo %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Mo %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Mo %)

Pounds

(millions)

Tonnage

(000 tonnes)

Grade

(Mo %)

Pounds

(millions)

Metallurgical Recovery (3)

South America

NuevaUnión, Chile (4)

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 (5)

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 are estimated based on a molybdenum price set by NuevaUnión joint venture. Tonnage amounts have been rounded to the 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)

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

(5)

Project is currently undeveloped. Resource estimates provided by Yamana, the operator of the Agua Rica joint venture. In November 2022, the Company sold its 18.75% ownership in Agua Rica. Refer to Note 8 of Newmont's Consolidated Financial Statements for further information.

Cautionary Statement Regarding Reserve and Resource Estimates:

The reserves stated herein were prepared in compliance with Subpart 1300 of Regulation S-K adopted by the United States Securities and Exchanges Commission ("the SEC") and represent the amount of gold, copper, silver, lead, zinc and molybdenum estimated, at December 31, 2022, could be economically and legally extracted or produced at the time of the reserve determination. The term "economically," as used in this definition, means that profitable extraction or production has been established or analytically demonstrated in at a minimum, a pre-feasibility study to be viable and justifiable under reasonable investment and market assumptions. The term "legally," as used in this definition, does not imply that all permits needed for mining and processing have been obtained or that other legal issues have been completely resolved. However, for a reserve to exist, Newmont (or our joint venture partners) must have a justifiable expectation, based on applicable laws and regulations, that issuance of permits or resolution of legal issues necessary for mining and processing at a particular deposit will be accomplished in the ordinary course and in a timeframe consistent with Newmont's (or our joint venture partners') current mine plans. Reserves in this presentation are aggregated from the proven and probable classes. The term "Proven reserves" used in the tables of the appendix means reserves for which (a) quantity is estimated from dimensions revealed in outcrops, trenches, workings or drill holes; (b) grade and/or quality are estimated from the results of detailed sampling; and (c) the sites for inspection, sampling and measurements are spaced so closely and the geologic character is sufficiently defined that size, shape, depth and mineral content of reserves are well established. The term "Probable reserves" means reserves for which quantity and grade are estimated from information similar to that used for Proven reserves, but the sites for sampling are farther apart or are otherwise less closely spaced. The degree of assurance, although lower than that for Proven reserves, is high enough to assume continuity between points of observation. Newmont classifies all reserves as Probable on its development projects until a year of production has confirmed all assumptions made in the reserve estimates. Proven and Probable reserves include gold, copper, silver, zinc, lead or molybdenum attributable to Newmont's ownership or economic interest. Proven and Probable reserves were calculated using cut-off grades. The term "cutoff grade" means the lowest grade of mineralized material considered economic to process. Cut-off grades vary between deposits depending upon prevailing economic conditions, mineability of the deposit, by-products, amenability of the ore to gold, copper, silver, zinc, lead or molybdenum extraction and type of milling or leaching facilities available.

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, lead and molybdenum 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 using significantly lower gold, silver, zinc, copper, lead and molybdenum prices as a result of a decrease in commodity 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 pre-feasibility and 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. Estimates of resources are subject to further exploration and development, are subject to additional risks, and no assurance can be given that they will eventually convert to future reserves. Inferred resources, in particular, have a great amount of uncertainty as to their existence and their economic and legal feasibility. Investors are cautioned not to assume that any part of all of the Inferred resource exists or is economically or legally mineable. 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, lead or molybdenum 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 or resources have become uneconomic, this may ultimately lead to a reduction in our aggregate reported mineral 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 "Proven and Probable Reserve" and "Measured and Indicated and Inferred Resource" tables herein and in the Company's Form 10-K, filed on February 23, 2023, 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 herein. Investors are also encouraged to refer to the Company's 2022 Form 10-K, filed on February 23, 2023, 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.



Contact

Media Contact
Carolina Lucaroni
786.643.9230
carolina.lucaroni@newmont.com

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


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Mineninfo
Newmont Corp.
Bergbau
853823
US6516391066
Minenprofile
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