Newmont Secures Rights to Explore and Develop Prospective New Yukon Gold District
March 06 2017 - 12:29PM
Business Wire
Investment reflects focus on long-term value creation
Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company)
today announced an agreement to access and explore a highly
prospective gold district in Canada’s Yukon Territory through a
private placement with Goldstrike Resources (Goldstrike). The
agreement entitles Newmont to earn up to 80 percent equity in the
Plateau property through exploration investment. The Plateau
property is a newly discovered gold system consisting of more than
2,000 claims covering 350 square kilometers. Initial drill results
are promising and high grade gold mineralization has been
identified over a 50 kilometer strike length.
“The Plateau agreement strengthens our long-term growth pipeline
and leverages our world class exploration capabilities,” said Gary
Goldberg, President and Chief Executive Officer. “We’ve added more
than 125 million ounces of gold reserves by the drill bit over the
last 16 years and about three-quarters of our reserves are located
in North America and Australia. We will continue to invest in
opportunities that combine the best value with the most favorable
technical and geopolitical attributes.”
In 2017, Newmont expects to boost its exploration and advanced
projects expenditure by 22 percent, with about two-thirds of that
amount going to fund more brownfields and greenfields
exploration.
About Newmont
Newmont is a leading gold and copper producer. The Company’s
operations are primarily in the United States, Australia, Ghana,
Peru and Suriname. Newmont is the only gold producer listed in the
S&P 500 Index and was named the mining industry leader by the
Dow Jones Sustainability World Index in 2015 and 2016. The Company
is an industry leader in value creation, supported by its leading
technical, environmental, social and safety performance. Newmont
was founded in 1921 and has been publicly traded since 1925.
Cautionary Statement Regarding Forward-Looking
Statements:
This release contains “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 pipeline growth and capabilities, future exploration and
related capital expenditures, prospective mineralization, and
future investments and/or related potential increases in equity
ownership in the Plateau property. Drill results and preliminary
grade indications are not necessarily indicative of future results
and remain subject to further exploration. 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 and other factors, which could
cause actual results to differ materially from future results
expressed or implied by the “forward-looking statements.” For
a discussion of such risks relating to our business and other
factors, see the Company’s Form 10-K, filed on or about February
21, 2017, with the Securities and Exchange Commission (SEC) under
the headings “Risk Factors” and “Forward-Looking Statements.” 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170306006030/en/
Newmont Mining CorporationMedia
ContactOmar Jabara,
303-837-5114omar.jabara@newmont.comorInvestor
ContactMeredith Bandy,
303-837-5143meredith.bandy@newmont.com
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