newmont mining 1_Exploration_Reserve_FINAL1

1

Exploration & ReservesExploration & Reserves

Stephen Enders, Sr. VP, Worldwide Exploration

2February 8, 2008

Cautionary Statement

Cautionary Note to U.S. Investors – The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this presentation such as “measured”, “indicated”, “inferred”, and “resources,” that the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 8-K, File No. 001-31240, which may be secured from us, or from the SEC’s website at: http//sec.gov/edgar.shtml.

This presentation 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, that are intended to be covered by the safe harbor created by such sections. Such forward-looking statements include, without limitation, (i) estimates of future gold and copper production and sales; (ii) estimates of future costs applicable to sales and the components thereof; (iii) estimates of future capital expenditures and project costs; (iv) estimates regarding timing of future development, construction or production activities; (v) statements regarding future exploration results and reserves; and (vi) statements regarding potential cost savings, productivity, operating performance, cost structure and competitive position. 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, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, political and operational risks in the countries in which we operate, and governmental regulation and judicial outcomes. For a more detailed discussion of such risks and other factors, see the Company’s 2006 Annual Report on Form 10-K, filed February 26, 2007 which is on file with the Securities and Exchange Commission, as well as the Company’s other SEC filings, including the prospectus supplement dated October 15, 2007. The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” 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.

3February 8, 2008

Agenda

Gold Deposit Realities

The Limits to Discovery

Newmont’s Track Record

2007 Reserves and Non-Reserve Mineralization

2008 Exploration Program

Hope Bay Project

Boddington Project

Nassau Discovery

4February 8, 2008

Actual Distribution Of Gold Deposits Total Resource And Reserves (Oz)Actual Distribution Of Gold Deposits Total Resource And Reserves (Oz)

Freq

uenc

y

Contained Gold (mm Oz)


2.2

Only 4% of All Gold Deposits are Over 5 Million Ounce

5February 8, 2008

764 / 855 Deposits With Known Geographic Coordinates


6February 8, 2008

Benchmarking Discovery*

Industry Track Record (1985-2003)

190 deposits > 1 mm oz containing 895 mm oz

Discovery rate is about ten 1 mm oz deposits per year

Approximately 5 of 10 are >3 mm oz, and only 14 total >10 mm oz

Cost of $28.6 B or ~$32/oz (greenfields and advanced projects)


*Industry Data from Schodde, 2004

7February 8, 2008

Number of Gold Discoveries Found Per Year Over 1 Million Ounces

0

5

10

15

20

25

1985

1986

1987

1988

1989

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

Num

ber o

f Dis

cove

ries

$0

$1

$2

$3

$4

$5

Expl

orat

ion

Expe

nditu

res

($ B

illio

n)

**

•Early Stages of Exploration DataSource: PACRIM 2004 & MEG


Industry Exploration Expenditures

8February 8, 2008

Newmont Track Record (1986-2004)

15 mm ozs discovered and initially reported from greenfields at costs of ~$50/oz

Resulted in 49 mm oz at ~$16/oz including growth from near-mine


9February 8, 2008


10February 8, 2008


Total Reserve Ounce Differential = 52.4 Million OuncesFive-Year Exploration Cost = $804 Million

0

20

40

60

80

100

2003 2004 2005 2006 2007Cumulative Reserves From ExplorationReserves Without Exploration Success Peer Group Average*

91.3 92.4 93.2 93.8

64.855.5

46.941.4

Moz

86.5

34.1

*Peer Group includes: ABX, AU, GFI, PDG

11February 8, 2008

2007 Results –Gold Reserve Reconciliation

0.93.4

0.73.5

93.9

7.2

86.5

75

80

85

90

95

100

Actu

al 20

06

Margin

Change

Additio

ns

Deplet

ion

Divestm

ents

Revisi

ons

Actual

2007

Oun

ces

(mill

ion)

Industry-Wide Cost Pressures Impacting Reserves:

Gold Price Assumption Increased 15%

Average Industry Operating Costs Increased 24%

*Source: GFMS

12February 8, 2008

2007 Results –Gold NRM* Reconciliation

*Non-Reserve Mineralization

3.4

0.3 5.6

1.02.3

31.8

25.9

15

20

25

30

35

Actu

al 20

06

Margin

Change

Additio

ns

Conve

rsion

Divestm

ents

Revisi

ons

Actual

2007

Oun

ces

(mill

ion)

13February 8, 2008


Total 2008 Consolidated Budget ($ million)Expensed $220 - $230Capitalized $ 20 - $ 25 Total $240 - $255

Inflation Impact 11% Drilling Inflation4% Labor Inflation2% Foreign Exchange Impact

Budget by Category

Labor23%

ESR/Land/Legal 4%

Direct Drilling57%

Field Logistics 4%

Technical Support 6%G & A 5%

14February 8, 2008

0

100

200

2004 2005 2006 2007 2008

New

mon

t Exp

l Bud

gets

($$

M)

0

100

200

300

400

Au

Indu

stry

Con

solid

ated

Expl

orat

ion

Bud

gets

($$

B)

Original FALC JVNassau Hope BayAu Industry Expl Budgets* MajorsNewmont

2004-2008 Budget ComparisonConsolidated $

* Source: Minerals Economics Group; 2007 estimated

$240 - $255

$198$187 $180 $188

Newmont Budget Increase 11%Industry Budget Increase 187%*

15February 8, 2008


16February 8, 2008

P95 Resource = 5.5 Moz

Hope Bay Project

Hope Bay

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80 kilometer gold-rich greenstone belt

Three known deposits:

Doris

Madrid

Boston

+20 identified prospectsin 5 regional camps

Kamik

Hope Bay Project

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0

2

4

6

8

10

12

1999 2000 2001 2002 2003 2004 2005 2006

Au

(mill

ion

ounc

es)

Miramar Reported Resources Miramar Reported Reserves

BHP

MIRAMAR

Hope Bay Project –Discovery History

19February 8, 2008

Boddington Project

A

A’

20February 8, 2008

Boddington Project

Reserves

02

468

101214

1618

1994

1995

1996

1997

1998

1999

2000

FS 2001

2002

2003

2004

2005

FSU

2006

2007

Au

(Moz

)

Newmont (44.44%)

FeasibilityStudy Update 2

Pre-FeasibilityStudy

Project ApprovalFeasibility

StudyFeasibility

Study Update

Newmont(66.7%)Normandy (44.44%)

Projectexpansion

PurchaseHedges Gold Mine

21February 8, 2008

Nassau Discovery

7750

00 m

E77

5000

mE

7750

00 m

E77

5000

mE

7750

00 m

E77

5000

mE

7750

00 m

E77

5000

mE

7750

00 m

E

8000

00 m

E80

0000

mE

8000

00 m

E80

0000

mE

8000

00 m

E80

0000

mE

8000

00 m

E80

0000

mE

8000

00 m

E

550000 mN550000 mN550000 mN550000 mN550000 mN550000 mN550000 mN550000 mN550000 mN




7250

00 m

E72

5000

mE

7250

00 m

E72

5000

mE

7250

00 m

E72

5000

mE

7250

00 m

E72

5000

mE

7250

00 m

E

7500

00 m

E75

0000

mE

7500

00 m

E75

0000

mE

7500

00 m

E75

0000

mE

7500

00 m

E75

0000

mE

7500

00 m

E


20 Km

Pakira

Margo Mining

Santa Barbara

Merian

Witlage

Western Witlage

Maraba and Merian II Pits600000 mN600000 mN600000 mN600000 mN600000 mN600000 mN600000 mN600000 mN600000 mN

6000

00 m

E60

0000

mE

6000

00 m

E60

0000

mE

6000

00 m

E60

0000

mE

6000

00 m

E60

0000

mE

6000

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5000

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E50

0000

mE

5000

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E50

0000

mE

5000

00 m

E50

0000

mE

5000

00 m

E50

0000

mE

5000

00 m

E

80 Km



Guyana

Nassau ProjectNassau ProjectNassau ProjectNassau ProjectNassau ProjectNassau ProjectNassau ProjectNassau ProjectNassau Project

ParamariboParamariboParamariboParamariboParamariboParamariboParamariboParamariboParamaribo∃∃∃∃∃∃∃∃∃

Fren

ch

Guy

ana

7000

00 m

E70

0000

mE

7000

00 m

E70

0000

mE

7000

00 m

E70

0000

mE

7000

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E70

0000

mE

7000

00 m

E

8000

00 m

E80

0000

mE

8000

00 m

E80

0000

mE

8000

00 m

E80

0000

mE

8000

00 m

E80

0000

mE

8000

00 m

E

Atlantic Ocean

Brasil

S U R I N A M E

22

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