Newmont Reports Second Quarter Results and Impact of Strategic Initiatives

DENVER, Aug. 2 /PRNewswire-FirstCall/ -- Newmont Mining Corporation today announced second quarter financial and operating results, which include a negative $2.125 billion impact of strategic initiatives completed during the second quarter. For the quarter, the Company reported a net loss of $2.06 billion (-$4.57 per share), compared with net income of $161 million ($0.36 per share) for the second quarter of 2006.

Description ($ million) Q2 2007 Q2 2006 Write-down of Merchant Banking Goodwill $(1,665) $-- Settlement of price-capped forward sales contracts $(460) $-- Batu Hijau minority loan repayment $(25) $-- Reclamation obligations at non-operating properties $(11) $-- Settlement of senior management retirement obligations $(8) $-- Prepaid forward deliveries $-- $(23)

Richard T. O'Brien, President and Chief Executive Officer, said, "As we refocus our efforts on cost control and operational efficiency, we continue to expect Gold sales of between 5.2 and 5.6 million equity ounces at costs applicable to sales of between $375 and $400 an ounce for the year. For the quarter, our financial results were impacted by several strategic initiatives, including the write-down associated with the discontinuation of our Merchant Banking segment and the elimination of our remaining gold hedge positions. With the elimination of our gold hedges, Newmont is now the world's largest unhedged gold producer. In July, we also completed a $1.15 billion Convertible Senior Notes issue, providing further financial flexibility to complete the Boddington project in Australia, the gold mill at Yanacocha in Peru and the power plant in Nevada. As we turn our attention to our core gold business, we continue to optimize plans for our prospective gold opportunities, including the potential development of our Conga project in Peru and the Akyem project in Ghana."

Financial ($ million, except per share) Q2 2007 Q2 2006 YTD 2007 YTD 2006 Revenues $1,302 $1,293 $2,558 $2,425 (Loss) income from continuing operations $(406) $128 $(370) $322 (Loss) income from continuing operations per share $(0.90) $0.29 $(0.82) $0.71 Net (loss) income $(2,062) $161 $(1,994) $370 Net (loss) income per share $(4.57) $0.36 $(4.42) $0.82 Operating Q2 2007 Q2 2006 YTD 2007 YTD 2006 Consolidated gold sales (000 ounces)(1) 1,448 1,843 3,053 3,652 Equity gold sales (000 ounces)(1),(2) 1,248 1,384 2,590 2,776 Average realized gold price ($/ounce) (3) $667 $605 $660 $580 Costs applicable to sales ($/ounce) $433 $299 $427 $287 Cash operating margin ($/ounce) (4) $234 $306 $233 $293 Capital expenditures ($ million) $351 $334 $713 $700 (1) Includes sales from Phoenix and Leeville start-up activities which are not included in Revenue, Costs applicable to sales and Depreciation, depletion and amortization per ounce calculations prior to commencing operations on October 1, 2006 and October 14, 2006, respectively. (2) Includes sales from Holloway and Zarafshan discontinued operations for the three and six months ended June 30, 2006. (3) Before treatment and refining charges but after hedge losses (excluding settlement of price-capped forward sales contracts) and provisional pricing mark-to-market adjustments. (4) Cash operating margin is defined as the Average realized gold price less Costs applicable to sales (excluding DD&A and loss on price- capped forward sales contracts). Regional Highlights and 2007 Outlook Nevada Q2 2007 Q2 2006 YTD 2007 YTD 2006 Consolidated gold sales (000 ounces)(1) 531 543 1,091 1,078 Equity gold sales (000 ounces)(1) 531 496 1,091 985 Costs applicable to sales ($/ounce) $485 $450 $489 $423 Capital expenditures ($ million) $119 $136 $277 $290 (1) Includes sales from Phoenix and Leeville start-up activities which are not included in Revenue, Costs applicable to sales and Depreciation, depletion and amortization per ounce calculations prior to commencing operations on October 1, 2006 and October 14, 2006, respectively. Revenues and costs during start-up activities are included in Other income, net. Nevada Operating Performance and Outlook

Equity gold sales in Nevada increased in the second quarter of 2007 to 531,000 ounces from 496,000 ounces in the prior year quarter. Gold sales increased over the prior twelve months as Leeville and Phoenix both entered their first full year of commercial production. Open pit ore mined increased 37% to 10.7 million tons in the second quarter of 2007, up from 7.8 million tons in the prior year quarter. Underground ore mined increased 79% in the second quarter of 2007 due to commencement of commercial production at Leeville and steady ramp-up toward full capacity. Ore milled increased 54% to 5.9 million tons from 3.8 million tons in the prior year quarter. Milled ore grade decreased 22% with the processing of lower grade ore from Phoenix. Ore placed on leach pads decreased by 53% from the prior year quarter due to the completion of mining at Lone Tree in 2006. Additionally, fewer leach ore tons were processed at Carlin, as the ore mined during the quarter contained a higher proportion of mill material.

In June, a ground subsidence occurred in an area of the Midas underground mine, resulting in an employee fatality. The state and federal mine safety regulators have suspended operations at the mine pending further review and investigation. At this time, it cannot be reasonably predicted when the mine will be reopened, however, the Company does not expect a material impact on Nevada's production. The Company continues to expect equity gold sales in Nevada of between 2.3 to 2.6 million ounces for 2007.

Costs applicable to sales increased in the second quarter of 2007 to $485 per ounce from $450 per ounce in the year ago quarter due to higher operating costs at Phoenix, as well as continued deployment of higher cost underground and maintenance contracted services. Waste removal costs increased as a result of accelerated mining at Pete, Gold Quarry and Twin Creeks. Labor and input commodity cost escalation also continues to impact operating costs.

Costs applicable to sales for the full year in Nevada, excluding the impact of Phoenix, are projected to be within the expected range of between $375 and $400 per ounce. However, ongoing challenges at Phoenix will likely result in costs applicable to sales for Nevada of between $400 and $440 per ounce for the year. Potentially higher grades, improved throughput and increased recoveries at Leeville and Twin Creeks could provide cost reduction opportunities for the remainder of 2007.

Phoenix Update

Phoenix remains the primary risk factor impacting Nevada's gold sales and costs applicable to sales outlook for the year. During the second quarter of 2007, Phoenix continued to experience lower than expected recoveries and throughput due to hard ore and reduced crusher availability. The Company made improvements to the flotation circuit and installed a cyanide detoxification system to improve recoveries during the second quarter. Additionally, blasting improvements were made during the second quarter which enhanced fragmentation of the harder ore and increased throughput. The Company continues to evaluate solutions to address ongoing metallurgical issues, mill throughput and crusher availability, with a final optimization plan expected by mid-2008.

Nevada Capital Projects

Capital expenditures in Nevada were $119 million in the second quarter of 2007. Capital expenditures for the year are expected to remain between $560 and $630 million, with spending primarily related to the construction of the power plant, mine equipment replacement and sustaining development. Construction of the 200 megawatt coal-fired power plant was approximately 77% complete at the end of the second quarter and remains on schedule for completion in mid-2008. Capital costs for the project are expected to remain between $620 and $640 million. The lower cost of self-generated electricity, when compared with projected future market prices in the region, is expected to reduce Nevada's costs applicable to sales by approximately $25 per ounce.

Yanacocha Q2 2007 Q2 2006 YTD 2007 YTD 2006 Consolidated gold sales (000 ounces) 312 785 767 1,555 Equity gold sales (000 ounces) 160 403 394 798 Costs applicable to sales ($/ounce) $426 $185 $357 $173 Capital expenditures ($ million) $58 $57 $114 $113 Yanacocha Operating Performance and Outlook

Equity gold sales at Yanacocha decreased in the second quarter of 2007 to 160,000 ounces from 403,000 ounces in the prior year quarter due to a higher waste-to-ore ratio and the mining of lower ore grades. Ore mined decreased to 20.7 million tons in the second quarter of 2007 from 29.8 million tons in the prior year quarter. During the same periods, the amount of waste mined increased to 32 million tons from 25.5 million tons. Leached ore grade decreased by 47% from 0.032 to 0.017 ounces per ton for the second quarter of 2007, primarily due to a different mine sequence at the La Quinua pit compared to the prior year quarter.

The Company continues to expect equity gold sales of between 775,000 and 825,000 ounces for 2007. Second half production at Yanacocha is weighted to the fourth quarter due to the timing of ore to be placed on leach pads. Yanacocha's gold sales for the remainder of the year could be adversely impacted by higher waste removal rates. Additional sales opportunities exist from inventory and higher ore grades during the second half of 2007.

Costs applicable to sales increased in the second quarter of 2007 to $426 per ounce from $185 per ounce in the year ago quarter, primarily due to lower production, a higher proportion of waste tons mined, and a valuation charge related to the La Quinua leach pad inventory. However, potential additional sales from higher grades and inventory reductions in the second half of 2007 could result in costs applicable to sales for the year toward the lower end or below the expected range of $340 to $360 per ounce.

Yanacocha Capital Projects

Consolidated capital expenditures at Yanacocha were $58 million in the second quarter of 2007. Yanacocha's consolidated capital expenditures for the year are expected to remain between $310 and $340 million. Progress on the gold mill continues as expected, with construction approximately 68% complete at the end of the second quarter, with commercial production by mid-2008. Capital costs on the project remain between $250 and $270 million. Once complete, the gold mill is expected to enhance recovery of complex ores, improve financial returns and extend the operating life at Yanacocha.

The Company continues to optimize the Conga project with a development decision expected in 2008, pending the completion of further design review and community initiatives.

Australia/New Zealand Q2 2007 Q2 2006 YTD 2007 YTD 2006 Consolidated gold sales (000 ounces) 338 316 670 649 Equity gold sales (000 ounces) 338 316 670 649 Costs applicable to sales ($/ounce) $456 $388 $487 $386 Capital expenditures ($ million) $129 $39 $227 $62 Australia/New Zealand Operating Performance and Outlook

Australia/New Zealand sales increased in the second quarter of 2007 to 338,000 ounces from 316,000 ounces in the prior year quarter due to increased production at Tanami and Pajingo, partially offset by lower production at Kalgoorlie, Jundee and Waihi (Martha). Gold sales at Tanami increased 43% in the second quarter of 2007 from 2006, due to a 44% increase in mill ore grade. Gold sales at Pajingo increased 11% in the second quarter of 2007 from 2006 due to a 14% increase in ore tons mined, a 10% increase in tons milled and a 2% increase in mill ore grade as mining and ground conditions improved during the second quarter of 2007. Gold sales at Kalgoorlie decreased 13% in the second quarter of 2007 compared to the prior year quarter, primarily due to a 11% decrease in mill ore grade due to the planned mining sequence. Gold sales at Jundee decreased 9% in the second quarter of 2007 compared to 2006, primarily due to a 25% decrease in mill throughput, partially offset by a 28% increase in mill ore grade. Lower mill throughput was caused by the relocation of the Nimary ball mill to the Jundee mill. Gold sales at Waihi (Martha) decreased 10% in the second quarter of 2007 from 2006, due to the planned transition to underground operations and the ramp-up to steady state milling of underground material. Mill ore grade at Waihi (Martha) increased to 0.378 ounces per ton, up from 0.112 ounces per ton in the prior year quarter due to the transition from open pit to underground mining. Mill throughput decreased 73% and average recoveries decreased 6% as the mill began processing underground material. The Company continues to expect equity gold sales in Australia/New Zealand of between 1.275 and 1.325 million ounces for 2007.

Costs applicable to sales increased in the second quarter of 2007 to $456 per ounce from $388 per ounce in the year ago quarter, primarily as a function of adverse movements in the Australian Dollar exchange rate, increased royalties due to the higher gold prices, as well as increased diesel, electricity and labor costs. The strengthening Australian dollar increased costs applicable to sales in Australia/New Zealand by approximately $43 per ounce from the prior year quarter. Costs applicable to sales increased 51% at Jundee, primarily attributable to higher labor, maintenance and electricity costs, as well as increased waste removal costs. Electricity prices more than doubled due to higher natural gas prices. At Waihi (Martha), costs applicable to sales were 215% higher, primarily due to the decreased gold production, lower mill throughput and lower average recoveries from the planned transition to underground operations. Costs applicable to sales increased 7% at Kalgoorlie, primarily due to lower gold production caused by lower ore grade compared with the prior year quarter. Costs applicable to sales at Pajingo were steady year over year, primarily due to increased production offsetting the impact of higher maintenance and overhead costs. At Tanami, cost applicable to sales decreased 3%, primarily due to increased production, partially offset by higher hauling charges due to longer hauling distances and increased royalties due to higher gold prices.

The Company has revised its costs applicable to sales outlook for Australia/New Zealand for the year to between $490 and $515 per ounce, reflecting the adverse impact of the Australian dollar exchange rate appreciating above 0.75, as well as higher than expected operating costs at Jundee. For every 0.01 move in the Australian exchange rate, costs applicable to sales in the second half of 2007 are expected to change by approximately $5-$6 per ounce above an assumed average exchange rate of 0.80.

Australia/New Zealand Capital Projects

Capital expenditures in Australia/New Zealand were $129 million in the second quarter of 2007. Including the impact of the strengthening Australian dollar, capital spending for the year is expected to be between $675 and $730 million. Capital expenditures in Australia for the second half of 2007 are expected to change by roughly $5 million for every 0.01 move in the Australian dollar exchange rate above an assumed average exchange rate of 0.80. Capital expenditures increased during the second quarter, primarily related to Boddington. Development of the Boddington project remains on schedule and was approximately 44% complete at the end of June 2007, with start-up expected in late 2008 or early 2009. Newmont's share of Boddington's expected capital costs remains between $0.9 and $1.1 billion.

Batu Hijau Q2 2007 Q2 2006 YTD 2007 YTD 2006 Consolidated gold sales (000 ounces) 90 134 174 207 Equity gold sales (000 ounces) 44 71 89 110 Costs applicable to sales ($/ounce) $224 $196 $276 $200 Consolidated copper sales (million pounds) 97 117 188 198 Equity copper sales (million pounds) 48 62 96 105 Costs applicable to sales ($/pound) $1.40 $0.71 $1.40 $0.75 Capital expenditures ($ million) $17 $21 $24 $84 Average realized copper price (1) $3.92 $2.25 $3.34 $2.18 (1) Before treatment and refining charges but after hedge losses and provisional pricing mark-to-market adjustments. Batu Hijau Operating Performance and Outlook

On May 25, 2007, a minority partner at Batu Hijau fully repaid their loan and accrued interest, and as a result, the Company's economic interest was reduced to 45% from 52.875%. The Company incurred an after-tax charge of $25 million in minority interest expense in the second quarter of 2007 to reflect the lower economic interest. The reduction of Newmont's economic interest to 45% would have effectively decreased the Company's December 31, 2006 equity gold and copper proven and probable reserves by roughly 750,000 ounces and 700 million pounds, respectively.

Equity gold and copper sales at Batu Hijau decreased in the second quarter of 2007 to 44,000 ounces and 48 million pounds, respectively, from 71,000 ounces and 62 million pounds, respectively, in the prior year quarter. Equity sales decreased primarily due to timing of concentrate shipments at the end of the second quarter of 2007, as concentrate inventories were significantly higher compared to the prior year quarter. Copper production remained steady quarter over quarter, while gold production decreased 23% due to lower gold grade compared to the prior year quarter. Total tons mined decreased by 24% from the prior year quarter, primarily due to longer hauling distances. The waste-to-ore ratio increased to 5.9 in the second quarter of 2007, up from 0.95 in the prior year quarter, in preparation for the next phase of high- grade ore mining.

As a result of Newmont's reduced 45% equity interest in Batu Hijau, the Company now expects equity gold and copper sales of between 210,000 and 230,000 ounces and between 190 and 210 million pounds, respectively, in 2007, compared with the previous equity guidance of between 230,000 and 250,000 ounces of gold and between 210 and 230 million pounds of copper. On a consolidated basis, the Company continues to expect gold and copper sales to meet or exceed original expectations for 2007. Fewer waste tons were mined in the second quarter as compared to the first quarter and will continue to be lower during the second half of the year as mining progresses through waste material.

Total costs applicable to sales increased 38% from the prior year quarter, primarily due to increased waste stripping and more ore processed from stockpiles during the second quarter of 2007 compared to the prior year quarter. Costs applicable to sales increased 14% per ounce of gold and nearly doubled per pound of copper in the second quarter of 2007 from 2006, as a higher proportion of total operating costs were allocated to costs applicable to sales of copper during the second quarter of 2007 compared to the prior year quarter.

The Company continues to expect costs applicable to sales to remain between $225 and $240 per ounce of gold and between $1.10 and $1.20 per pound of copper for the year as more ore tons are expected to be mined during the remainder of 2007. Additionally, a higher proportion of total operating costs could be allocated to costs applicable to sales of gold if gold prices and gold sales volumes continue to increase at a higher rate than copper prices and volumes.

The average realized copper price increased 74% to $3.92 per pound from $2.25 per pound in the prior year quarter, as copper sales were completely unhedged in the second quarter of 2007. Copper sales in the prior year quarter were fully hedged, which reduced the average realized copper price.

Batu Hijau Capital Projects

Consolidated capital expenditures at Batu Hijau were $17 million during the second quarter of 2007. Batu Hijau's consolidated capital expenditures for the year are expected to be at the lower end or below the current range of $140 to $150 million, with spending focused primarily on sustaining mine development for the remainder of the year.

Ahafo Q2 2007 Q2 2006 YTD 2007 YTD 2006 Consolidated gold sales (000 ounces) 123 -- 248 -- Equity gold sales (000 ounces) 123 -- 248 -- Costs applicable to sales ($/ounce) $384 $-- $362 $-- Capital expenditures ($ million) $19 $70 $56 $135 Ahafo Operating Performance and Outlook

Ahafo sold 123,000 ounces in the second quarter of 2007, as ore tons mined and mill throughput were both in line with expectations. During the second quarter, mill ore grades continued to be higher than expected. The Company continues to expect gold sales of between 410,000 and 450,000 ounces in 2007. Potential production opportunities may exist from continued higher ore grades; however, the risk of increased power rationing during the second half of the year could offset these benefits.

Ahafo's costs applicable to sales were $384 per ounce for the second quarter of 2007, primarily due to lower than anticipated self-generated power requirements. Additionally, higher production helped to reduce unit costs applicable to sales. Continuing lower than anticipated power costs and higher than expected ore grades could reduce costs applicable to sales for the year to be at the lower end or below the expected range of $460 to $500 per ounce.

Construction of an 80 mega-watt power plant was substantially complete at the end of the second quarter of 2007, with completion testing progressing well. Power production is expected to be available within a month. As a result of the mining industry's initiative to install the power plant, the Ghanaian government has agreed, if required, to ration power proportionately between participating mines and other industrial and commercial customers.

Ghana Capital Projects

Capital expenditures in Ghana were $19 million in the second quarter. Capital expenditures for the year are expected to be at the lower end or below the current range of $180 to $200 million. For the rest of 2007, capital projects in Ghana are targeted for surface mining equipment, cyanide recovery, permitting and resettlement.

Other Operations Q2 2007 Q2 2006 YTD 2007 YTD 2006 Consolidated gold sales (000 ounces) 54 65 103 163 Equity gold sales (000 ounces) 52 60 98 154 Costs applicable to sales ($/ounce) $295 $251 $312 $226 Capital expenditures ($ million) $5 $5 $8 $7 Other Operations Performance and Outlook

Equity gold sales for the Kori Kollo mine in Bolivia, the La Herradura mine in Mexico, and the Golden Giant mine in Canada decreased to 52,000 ounces in the second quarter of 2007 from 60,000 ounces in the year ago quarter. Gold sales decreased due to the completion of mining at Golden Giant, with remnant sales of 9,000 ounces in the second quarter of 2007, down from 14,000 in the year ago quarter. Gold sales at Kori Kollo decreased 23% in the second quarter of 2007 from 2006. La Herradura gold sales increased 15% in the second quarter of 2007 from the prior year quarter, primarily as a result of a 20% increase in ore tons mined and placed on the leach pad. The Company expects equity gold sales of between 155,000 and 190,000 ounces in 2007 from its other operations.

Costs applicable to sales increased in the second quarter of 2007 to $295 per ounce from $251 per ounce in the prior year quarter. Costs applicable to sales increased 19% at Kori Kollo in the second quarter of 2007, primarily due to lower production and higher waste removal costs. Costs applicable to sales increased 16% at La Herradura also due to higher waste removal costs. The Company continues to expect costs applicable to sales of between $305 and $325 per ounce for the year from Kori Kollo, La Herradura and Golden Giant.

Cash Flow, Capital and Other

The Company used net cash from continuing operations of $654 million in the second quarter of 2007, after a $469 million decrease in working capital, compared to net cash provided from continuing operations of $310 million in the prior year quarter. Cash flow used in operations during the second quarter of 2007 was primarily impacted by the pre-tax settlement of the price- capped forward sales contracts for $578 million, settlement of pre-acquisition Australia income taxes of Normandy for $276 million, fewer gold ounces and copper pounds sold and higher operating costs, partially offset by higher realized gold and copper prices.

Capital expenditures for the second quarter of 2007 were $351 million, primarily for the construction of the power plant and sustaining development in Nevada ($119 million), construction of the gold mill and leach pad expansions at Yanacocha in Peru ($58 million), construction of the Boddington project and other sustaining development in Australia/New Zealand ($129 million), as well as sustaining development in Ghana ($19 million). The Company continues to expect consolidated capital expenditures of between $1.8 and $2.0 billion for 2007. The Company expensed $193 million of depreciation, depletion and amortization for the second quarter of 2007, and has revised its depreciation, depletion and amortization outlook for the year to approximately $750 to $800 million.

The 2007 tax rate (assuming $650 per ounce gold) was revised upward to between 42% and 47%. The tax rate range was revised due to certain second quarter, one-time transactions that had the impact of creating U.S. net operating losses, which caused the Company to realize fewer foreign tax credits for the year, resulting in a higher effective tax rate.

The Company incurred $36 million of general and administrative expenses during the second quarter of 2007, with anticipated expenses of between $155 and $165 million for the year. Including $25 million of net interest expense during the second quarter of 2007, the Company continues to expect net interest expense of approximately $95 to $105 million for the year. Including $13 million of advanced projects, research and development expenditures during the second quarter of 2007, the Company continues to expect spending to be between $85 and $100 million for the year.

Exploration Review

Exploration expenditures for the second quarter of 2007 were $45 million, compared with $46 million in the prior year quarter. Near mine expenditures in the second quarter were $24 million, compared with $28 million in the prior year quarter. Greenfield expenditures in the second quarter of 2007 were $15 million, compared with $13 million in the second quarter of 2006. For 2007, the Company continues to expect exploration expenditures between $170 and $175 million, with roughly 55% focused on near mine activity, approximately 20% focused on greenfields initiatives, and the remaining 25% split between follow-up opportunity funds and technical support.

Exploration spending in North America is primarily focused on near mine programs in Nevada on the Carlin Trend, Battle Mountain-Eureka Trend and the Northern Nevada Rift. Expenditures for the year are expected to be approximately $37 million, including $12 million of exploration spending that occurred during the second quarter.

Exploration spending in South America is primarily targeted on near mine programs at Yanacocha in Peru, as well as greenfield projects in the Guiana Shield in South America and the Andes in Peru. Including $14 million of exploration spending during the second quarter, exploration expenditures for 2007 are expected to be approximately $34 million in the region, or approximately 20% of the Company's total exploration budget. Oxide target drilling continued at Maqui Maqui and La Quinua. In-fill drilling began at the Company's Merian II and Maraba discoveries at our Nassau Joint Venture in Suriname.

Including second quarter expenditures of $6 million in Australia/New Zealand, exploration spending for 2007 is expected to be approximately $24 million, or approximately 14% of the Company's total exploration budget. Development drilling at Boddington intensified with up to nine core drill rigs targeting non-reserve material and reserve expansion. Deep drilling for extensions of the Callie deposit in the Tanami will employ three surface core rigs. Development drilling from underground platforms at the Jundee mine is progressing according to schedule.

Including exploration spending during the second quarter in Indonesia and other Asia districts, exploration spending for the year is expected to total approximately 2% of the Company's exploration budget. Exploration programs in the region are primarily focused on greenfield initiatives in China and Indonesia.

Exploration spending in Africa totaled approximately $4 million during the second quarter. Exploration expenditures for the year are anticipated to be approximately $18 million, or roughly 10% of the Company's total exploration budget for the year. Regional exploration programs throughout 2007 will focus on near mine programs in the Sefwi Belt in Ghana, as well as other greenfield projects in the Greenstone Belts of West Africa. Drill programs at Ahafo are exploring possible reserve and non-reserve mineralization expansions at depth, as well as potential underground targets.

Statements of Consolidated Income Q2 Q2 YTD YTD 2007 2006 2007 2006 (unaudited, in millions except per share) Revenues Sales - gold, net $962 $1,091 $2,005 $2,086 Sales - copper, net 340 202 553 339 1,302 1,293 2,558 2,425 Costs and expenses Costs applicable to sales (exclusive of loss on settlement of price-capped forward sales contracts and depreciation, depletion and amortization, shown separately below) `Gold 628 544 1,304 1,038 Copper 134 84 262 149 Loss on settlement of price-capped forward sales contracts 531 -- 531 -- Depreciation, depletion and amortization 193 146 381 281 Exploration 45 46 85 79 Advanced projects, research and development 13 24 29 39 General and administrative 36 37 73 74 Other expense, net 53 13 74 27 1,633 894 2,739 1,687 Other income (expense) Other income, net 25 1 35 7 Interest expense, net (25) (23) (49) (43) -- (22) (14) (36) (Loss) income from continuing operations before income tax, minority interest and equity income of affiliates (331) 377 (195) 702 Income tax benefit (expense) 23 (121) (21) (153) Minority interest in income of consolidated subsidiaries (98) (128) (154) (227) (Loss) income from continuing operations (406) 128 (370) 322 (Loss) income from discontinued operations (1,656) 33 (1,624) 48 Net (loss) income $(2,062) $161 $(1,994) $370 Income per common share Basic: (Loss) income from continuing operations $(0.90) $0.29 $(0.82) $0.71 (Loss) income from discontinued operations (3.67) 0.07 (3.60) 0.11 Net (loss) income $(4.57) $0.36 $(4.42) $0.82 Diluted: (Loss) income from continuing operations $(0.90) $0.29 $(0.82) $0.71 (Loss) income from discontinued operations (3.67) 0.07 (3.60) 0.11 Net (loss) income $(4.57) $0.36 $(4.42) $0.82 Basic weighted-average common shares outstanding 451 449 451 449 Diluted weighted-average common shares outstanding 454 452 453 451 Cash dividends declared per common share $0.10 $0.10 $0.20 $0.20 Consolidated Balance Sheets At June 30, At December 31, 2007 2006 (unaudited, in millions) ASSETS Cash and cash equivalents $668 $1,166 Marketable securities and other short-term investments 1,028 109 Trade receivables 228 142 Accounts receivable 138 206 Inventories 406 382 Stockpiles and ore on leach pads 337 378 Deferred income tax assets 138 156 Other current assets 128 93 Current assets 3,071 2,632 Property, plant and mine development, net 7,024 6,594 Investments 472 1,319 Long-term stockpiles and ore on leach pads 795 812 Deferred income tax assets 675 799 Other long-term assets 177 178 Goodwill 1,320 1,343 Assets of operations held for sale 327 1,924 Total assets $13,861 $15,601 LIABILITIES Current portion of long-term debt $161 $159 Accounts payable 274 340 Employee-related benefits 143 182 Derivative instruments -- 174 Income and mining taxes 91 357 Other current liabilities 605 515 Current liabilities 1,274 1,727 Long-term debt 2,493 1,752 Reclamation and remediation liabilities 546 528 Deferred income tax liabilities 383 626 Employee-related benefits 286 309 Other long-term liabilities 161 135 Liabilities of operations held for sale 108 89 Total liabilities 5,251 5,166 Minority interest in subsidiaries 1,308 1,098 STOCKHOLDERS' EQUITY Common stock 683 677 Additional paid-in capital 6,738 6,703 Accumulated other comprehensive income 789 673 Retained (deficit) earnings (908) 1,284 Total stockholders' equity 7,302 9,337 Total liabilities and stockholders' equity $13,861 $15,601 Statements of Consolidated Cash Flow Q2 2007 Q2 2006 YTD 2007 YTD 2006 (unaudited, in millions) Operating activities: Net (loss) income $(2,062) $161 $(1,994) $370 Adjustments to reconcile net (loss) income to net cash from continuing operations: Depreciation, depletion and amortization 193 146 381 281 Revenue from prepaid forward sales obligation -- (48) -- (48) Loss (income) from discontinued operations 1,674 (33) 1,624 (48) Accretion of accumulated reclamation obligations 9 7 19 14 Deferred income taxes (144) (5) (143) (77) Minority interest expense 98 128 154 227 Gain on asset sales, net (2) (9) (4) (10) Hedge (gain) loss, net (4) 83 (7) 74 Other operating adjustments and write-downs 53 53 79 90 Net cash (used in) provided from continuing operations before net change in operating assets and liabilities (185) 483 109 873 Net change in operating assets and liabilities (469) (173) (733) (351) Net cash (used in) provided from continuing operations (654) 310 (624) 522 Net cash provided from discontinued operations 33 26 61 49 Net cash (used in) provided from operations (621) 336 (563) 571 Investing activities: Additions to property, plant and mine development (351) (334) (713) (700) Investments in marketable debt securities -- (386) (124) (1,057) Proceeds from sale of marketable debt securities 10 561 134 1,530 Acquisitions -- -- -- (187) Cash received on repayment of Batu Hijau carried interest 161 -- 161 -- Other 4 4 5 6 Net cash used in investing activities of continuing operations (176) (155) (537) (408) Net cash provided from (used in) investing activities of discontinued operations 72 (21) 43 (25) Net cash used in investing activities (104) (176) (494) (433) Financing activities: Proceeds from debt, net 1,161 99 1,161 99 Repayment of debt (397) (43) (418) (63) Dividends paid to common stockholders (45) (45) (90) (90) Dividends paid to minority interests (114) (44) (115) (89) Proceeds from stock issuance 5 19 14 57 Change in restricted cash and other (6) 6 2 (2) Net cash provided from (used in) financing activities 604 (8) 554 (88) Effect of exchange rate changes on cash 3 4 5 3 Net change in cash and cash equivalents (118) 156 (498) 53 Cash and cash equivalents at beginning of period 786 979 1,166 1,082 Cash and cash equivalents at end of period $668 $1,135 $668 $1,135 Operating Statistics Summary Q2 2007 Q2 2006 YTD 2007 YTD 2006 Gold Consolidated ounces sold (000): Nevada (1) 531 543 1,091 1,078 Yanacocha 312 785 767 1,555 Batu Hijau 90 134 174 207 Australia/New Zealand Tanami 130 91 243 199 Kalgoorlie 71 82 166 176 Jundee 71 78 133 140 Pajingo 39 35 87 67 Waihi 27 30 41 67 338 316 670 649 Ahafo 123 -- 248 -- Other Kori Kollo 22 31 46 75 La Herradura 23 20 45 40 Golden Giant 9 14 12 48 54 65 103 163 1,448 1,843 3,053 3,652 Equity ounces sold (000): Nevada (1) 531 496 1,091 985 Yanacocha 160 403 394 798 Batu Hijau 44 71 89 110 Australia/New Zealand Tanami 130 91 243 199 Kalgoorlie 71 82 166 176 Jundee 71 78 133 140 Pajingo 39 35 87 67 Waihi 27 30 41 67 338 316 670 649 Ahafo 123 -- 248 -- Other Kori Kollo 20 26 41 66 La Herradura 23 20 45 40 Golden Giant 9 14 12 48 52 60 98 154 1,248 1,346 2,590 2,696 Discontinued Operations Zarafshan -- 27 -- 56 Holloway -- 11 -- 24 1,248 1,384 2,590 2,776 Copper Batu Hijau (pounds sold in millions): Consolidated 97 117 188 198 Equity 48 62 96 105 (1) Includes sales from Phoenix and Leeville start-up activities which are not included in Revenue, Costs applicable to sales and Depreciation, depletion and amortization per ounces calculations prior to commencing operations on October 1, 2006 and October 14, 2006, respectively. Revenues and costs during start-up activities are included in Other income, net. Operating Statistics - Nevada Q2 2007 Q2 2006 YTD 2007 YTD 2006 Tons mined (000 dry short tons): Open pit Ore 10,655 7,759 21,229 16,510 Waste 52,155 37,266 100,349 76,569 Total 62,810 45,025 121,578 93,079 Underground 508 284 992 652 Tons milled/processed (000 dry short tons): Mill 5,870 3,821 12,083 7,417 Leach 2,509 5,353 5,864 11,956 Average ore grade (oz/ton): Mill 0.100 0.128 0.099 0.134 Leach 0.037 0.025 0.035 0.024 Average mill recovery rate 83.0% 83.9% 82.2% 82.9% Gold ounces produced (thousands): Mill 450 434 936 882 Leach 80 82 156 159 Incremental start-up -- 23 -- 37 Consolidated 530 539 1,092 1,078 Equity 530 491 1,092 983 Gold ounces sold (thousands): Consolidated (1) 531 543 1,091 1,078 Equity (1) 531 496 1,091 985 Gold production costs (millions): Costs applicable to sales $258 $234 $534 $440 Depreciation, depletion and amortization $66 $35 $121 $71 Gold production costs (per ounce sold): Direct mining and production costs $495 $450 $503 $419 By-product credits (29) (12) (29) (11) Royalties and production taxes 17 9 13 12 Reclamation/accretion expense 2 3 2 3 Costs applicable to sales $485 $450 $489 $423 Depreciation, depletion, and amortization $124 $68 $111 $68 (1) Includes sales from Phoenix and Leeville start-up activities which are not included in Revenue, Costs applicable to sales and Depreciation, depletion and amortization per ounce calculations prior to commencing operations on October 1, 2006 and October 14, 2006, respectively. Revenues and costs during start-up activities are included in Other income, net. Operating Statistics - Nevada By Location Q2 2007 Q2 2006 YTD 2007 YTD 2006 Mine production: Open pit ore mined (000 dry short tons): Carlin 4,822 4,950 10,045 10,270 Phoenix 3,198 -- 6,121 -- Twin Creeks 2,635 1,986 5,063 4,458 Lone Tree -- 823 -- 1,782 10,655 7,759 21,229 16,510 Average ore grade (oz/ton) 0.062 0.045 0.059 0.044 Open pit waste mined (000 dry short tons): Carlin 28,263 18,277 52,347 36,638 Phoenix 11,370 -- 23,576 -- Twin Creeks 12,522 15,210 24,426 32,212 Lone Tree -- 3,779 -- 7,719 52,155 37,266 100,349 76,569 Underground ore mined (000 dry short tons): Carlin - Carlin East 74 17 142 81 Carlin - Deep Post 70 92 155 207 Carlin - Chukar 114 63 193 136 Carlin - Leeville 133 -- 255 -- Midas 82 75 179 151 Turquoise Ridge 35 37 68 77 Total tons mined 508 284 992 652 Average Grade (ounce per ton) 0.387 0.468 0.398 0.475 Mill throughput (000 dry short tons): Carlin - Mill 5 1,358 1,205 2,587 2,284 Carlin - Mill 6 600 526 1,415 1,194 Twin Creeks - Juniper 245 234 485 470 Twin Creeks - Sage 810 838 1,575 1,628 Lone Tree 284 711 886 1,400 Phoenix 2,425 -- 4,855 -- Midas 80 75 179 152 Other 68 232 101 289 5,870 3,821 12,083 7,417 Average ore grade (oz/ton) 0.100 0.128 0.099 0.134 Average mill recovery rate 83.0% 83.9% 82.2% 82.9% Operating Statistics - Yanacocha Q2 2007 Q2 2006 YTD 2007 YTD 2006 Tons mined (000 dry short tons): Ore 20,650 29,817 37,198 60,899 Waste 32,123 25,542 61,783 44,835 Total 52,773 55,359 98,981 105,734 Tons processed (000 dry short tons) 20,650 29,817 37,198 60,907 Average ore grade (oz/ton) 0.017 0.032 0.015 0.034 Gold ounces produced (thousands): Consolidated 303 751 721 1,551 Equity 155 385 370 796 Gold ounces sold (thousands): Consolidated 312 785 767 1,555 Equity 160 403 394 798 Gold production costs (millions): Costs applicable to sales $133 $145 $274 $269 Depreciation, depletion and amortization $40 $49 $82 $92 Gold production costs (per ounce sold): Direct mining and production costs $430 $194 $364 $180 By-product credits (23) (16) (25) (14) Royalties and production taxes 12 4 12 4 Reclamation/accretion expense 7 3 6 3 Costs applicable to sales $426 $185 $357 $173 Depreciation, depletion, and amortization $128 $61 $107 $59 Operating Statistics - Batu Hijau Q2 2007 Q2 2006 YTD 2007 YTD 2006 Tons mined (000 dry short tons): Ore 8,108 37,361 9,640 68,552 Waste 47,609 35,489 109,792 64,487 Total 55,717 72,850 119,432 133,039 Tons milled (000 dry short tons) 11,641 12,080 23,621 22,909 Average ore grade: Gold (oz/ton) 0.010 0.013 0.010 0.011 Copper 0.56% 0.52% 0.53% 0.51% Average mill recovery rate: Gold 80.7% 81.7% 80.3% 79.4% Copper 83.4% 86.2% 82.0% 85.8% Gold ounces produced (thousands): Consolidated 98 126 186 209 Equity 49 67 95 111 Gold ounces sold (thousands): Consolidated 90 134 174 207 Equity 44 71 89 110 Copper pounds produced (millions): Consolidated 109 109 205 203 Equity 54 58 105 108 Copper pounds sold (millions): Consolidated 97 117 188 198 Equity 48 62 96 105 Gold production costs (millions): Costs applicable to sales $20 $27 $48 $42 Depreciation, depletion and amortization $5 $6 $11 $10 Gold production costs (per ounce sold): Direct mining and production costs $214 $189 $266 $194 By-product credits (6) (8) (7) (8) Royalties and production taxes 14 13 14 12 Reclamation/accretion expense 2 2 3 2 Costs applicable to sales $224 $196 $276 $200 Depreciation, depletion, and amortization $52 $46 $63 $48 Copper production costs (millions): Costs applicable to sales $134 $84 $262 $149 Depreciation, depletion and amortization $26 $18 $54 $34 Copper production costs (per pound sold): Direct mining and production costs $1.41 $0.71 $1.41 $0.75 By-product credits (0.04) (0.03) (0.04) (0.03) Royalties and production taxes 0.02 0.02 0.02 0.02 Reclamation/accretion expense 0.01 0.01 0.01 0.01 Costs applicable to sales $1.40 $0.71 $1.40 $0.75 Depreciation, depletion, and amortization $0.28 $0.16 $0.29 $0.17 Operating Statistics - Ahafo Q2 2007 Q2 2006 YTD 2007 YTD 2006 Tons mined (000 dry short tons): Ore 2,205 -- 4,750 -- Waste 11,390 -- 19,628 -- Total 13,595 -- 24,378 -- Tons milled (000 dry short tons): 2,076 -- 4,258 -- Average ore grade (oz/ton) 0.063 -- 0.062 -- Average mill recovery rate 92.7% -- 92.8% -- Gold ounces produced (thousands): Consolidated 122 -- 250 -- Equity 122 -- 250 -- Gold ounces sold (thousands): Consolidated 123 -- 248 -- Equity 123 -- 248 -- Gold production costs (millions): Costs applicable to sales $47 $-- $90 $-- Depreciation, depletion and amortization $13 $-- $23 $-- Gold production costs (per ounce sold): Direct mining and production costs $364 $-- $342 $-- By-product credits (1) -- (1) -- Royalties and production taxes 20 -- 20 -- Reclamation/accretion expense 1 -- 1 -- Costs applicable to sales $384 $-- $362 $-- Depreciation, depletion, and amortization $108 $-- $93 $-- Operating Statistics - Pajingo and Jundee Q2 2007 Q2 2006 YTD 2007 YTD 2006 PAJINGO Tons mined (000 dry short tons) 157 138 304 252 Tons milled (000 dry short tons) 154 140 291 255 Average ore grade (oz/ton) 0.258 0.252 0.285 0.261 Average mill recovery rate 96.7% 96.8% 96.6% 96.9% Gold ounces produced (thousands): Consolidated 39 34 84 66 Equity 39 34 84 66 Gold ounces sold (thousands): Consolidated 39 35 87 67 Equity 39 35 87 67 Gold production costs (millions): Costs applicable to sales $17 $16 $36 $30 Depreciation, depletion and amortization $7 $6 $16 $11 Gold production costs (per ounce sold): Direct mining and production costs $432 $435 $404 $434 By-product credits (11) (16) (12) (14) Royalties and production taxes 19 17 19 16 Reclamation/accretion expense 3 3 3 3 Costs applicable to sales $443 $439 $414 $439 Depreciation, depletion, and amortization $180 $167 $179 $158 JUNDEE Tons mined (000 dry short tons): Open pit Ore 306 383 491 541 Waste 1,929 1,202 3,028 2,104 Total 2,235 1,585 3,519 2,645 Underground 259 316 525 589 Tons milled (000 dry short tons) 477 636 925 1,193 Average ore grade (oz/ton) 0.166 0.130 0.149 0.126 Average mill recovery rate 91.8% 91.8% 90.3% 91.8% Gold ounces produced (thousands): Consolidated 72 77 126 140 Equity 72 77 126 140 Gold ounces sold (thousands): Consolidated 71 78 133 140 Equity 71 78 133 140 Gold production costs (millions): Costs applicable to sales $37 $27 $73 $53 Depreciation, depletion and amortization $6 $6 $12 $11 Gold production costs (per ounce sold): Direct mining and production costs $498 $326 $530 $359 By-product credits (2) (2) (2) (1) Royalties and production taxes 18 15 16 16 Reclamation/accretion expense 7 5 7 6 Costs applicable to sales $521 $344 $551 $380 Depreciation, depletion, and amortization $84 $78 $89 $78 Operating Statistics - Tanami and Kalgoorlie Q2 2007 Q2 2006 YTD 2007 YTD 2006 TANAMI Tons mined (000 dry short tons) 505 523 1,008 1,046 Tons milled (000 dry short tons) 798 811 1,511 1,603 Average ore grade (oz/ton) 0.169 0.117 0.159 0.130 Average mill recovery rate 95.4% 94.6% 95.5% 95.1% Gold ounces produced (thousands): Consolidated 128 90 230 198 Equity 128 90 230 198 Gold ounces sold (thousands): Consolidated 130 91 243 199 Equity 130 91 243 199 Gold production costs (millions): Costs applicable to sales $51 $36 $101 $74 Depreciation, depletion and amortization $10 $6 $19 $13 Gold production costs (per ounce sold): Direct mining and production costs $315 $353 $345 $324 By-product credits (1) (1) (1) (1) Royalties and production taxes 75 48 68 46 Reclamation/accretion expense 2 3 2 3 Costs applicable to sales $391 $403 $414 $372 Depreciation, depletion, and amortization $75 $76 $78 $69 KALGOORLIE Tons mined (000 dry short tons): Open pit Ore 2,095 1,777 3,299 3,594 Waste 8,620 10,031 17,068 19,476 Total 10,715 11,808 20,367 23,070 Underground 47 51 100 104 Tons milled (000 dry short tons) 1,645 1,477 3,245 3,175 Average ore grade (oz/ton) 0.058 0.065 0.056 0.064 Average mill recovery rate 85.9% 85.8% 85.1% 84.1% Gold ounces produced (thousands): Consolidated 72 84 157 176 Equity 72 84 157 176 Gold ounces sold (thousands): Consolidated 71 82 166 176 Equity 71 82 166 176 Gold production costs (millions): Costs applicable to sales $37 $39 $95 $83 Depreciation, depletion and amortization $5 $7 $13 $13 Gold production costs (per ounce sold): Direct mining and production costs $488 $464 $549 $455 By-product credits (3) (3) (3) (3) Royalties and production taxes 19 16 16 15 Reclamation/accretion expense 13 6 11 6 Costs applicable to sales $517 $483 $573 $473 Depreciation, depletion, and amortization $68 $76 $80 $73 Operating Statistics - Waihi (Martha) and Golden Giant Q2 2007 Q2 2006 YTD 2007 YTD 2006 WAIHI (MARTHA) Tons mined (000 dry short tons): Open pit Ore 28 143 28 717 Waste 1,113 -- 2,368 75 Total 1,141 143 2,396 792 Underground 55 28 111 47 Tons milled (000 dry short tons) 84 313 101 615 Average ore grade (oz/ton) 0.378 0.112 0.365 0.116 Average mill recovery rate 88.1% 93.8% 88.4% 94.1% Gold ounces produced (thousands): Consolidated 29 31 33 69 Equity 29 31 33 69 Gold ounces sold (thousands): Consolidated 27 30 41 67 Equity 27 30 41 67 Gold production costs (millions): Costs applicable to sales $13 $5 $22 $11 Depreciation, depletion and amortization $6 $3 $9 $6 Gold production costs (per ounce sold): Direct mining and production costs $472 $237 $541 $241 By-product credits (27) (98) (28) (85) Royalties and production taxes 7 -- 7 -- Reclamation/accretion expense 8 7 10 6 Costs applicable to sales $460 $146 $530 $162 Depreciation, depletion, and amortization $221 $91 $228 $88 GOLDEN GIANT Tons mined (000 dry short tons) -- -- -- 13 Tons milled (000 dry short tons) -- -- -- 17 Average ore grade (oz/ton) -- -- -- 0.627 Average mill recovery rate -- 0.0% -- 96.9% Gold ounces produced (thousands): Consolidated 9 14 12 48 Equity 9 14 12 48 Gold ounces sold (thousands): Consolidated 9 14 12 48 Equity 9 14 12 48 Gold production costs (millions): Costs applicable to sales $1 $2 $2 $10 Depreciation, depletion and amortization $-- $-- $-- $1 Gold production costs (per ounce sold): Direct mining and production costs $185 $142 $188 $195 By-product credits (2) (1) (3) (1) Royalties and production taxes (12) -- (9) -- Reclamation/accretion expense 16 16 29 9 Costs applicable to sales $187 $157 $205 $203 Depreciation, depletion, and amortization $-- $-- $-- $12 Operating Statistics - Kori Kollo and La Herradura Q2 2007 Q2 2006 YTD 2007 YTD 2006 KORI KOLLO Tons mined (000 dry short tons): Ore 2,239 2,059 4,177 5,419 Waste 3,672 3,560 7,222 5,906 Total 5,911 5,619 11,399 11,325 Tons processed (000 dry short tons) 2,239 2,059 4,177 5,419 Average ore grade (oz/ton) 0.019 0.020 0.020 0.022 Gold ounces produced (thousands): Consolidated 22 34 47 78 Equity 19 30 41 69 Gold ounces sold (thousands): Consolidated 22 31 46 75 Equity 20 26 41 66 Gold production costs (millions): Costs applicable to sales $9 $10 $17 $17 Depreciation, depletion and amortization $2 $2 $5 $4 Gold production costs (per ounce sold): Direct mining and production costs $377 $185 $365 $159 By-product credits (23) (14) (22) (11) Royalties and production taxes -- 128 -- 71 Reclamation/accretion expense 15 10 15 8 Costs applicable to sales $369 $309 $358 $227 Depreciation, depletion, and amortization $113 $67 $110 $56 LA HERRADURA Tons mined (000 dry short tons): Ore 1,292 1,079 2,609 2,016 Waste 4,376 3,418 8,521 6,211 Total 5,668 4,497 11,130 8,227 Tons processed (000 dry short tons) 1,292 1,079 2,609 2,016 Average ore grade (oz/ton) 0.022 0.023 0.022 0.023 Gold ounces produced (thousands): Consolidated 23 20 45 40 Equity 23 20 45 40 Gold ounces sold (thousands): Consolidated 23 20 45 40 Equity 23 20 45 40 Gold production costs (millions): Costs applicable to sales $6 $4 $13 $10 Depreciation, depletion and amortization $1 $2 $3 $4 Gold production costs (per ounce sold): Direct mining and production costs $279 $229 $314 $252 By-product credits (15) (2) (21) (3) Royalties and production taxes -- -- -- -- Reclamation/accretion expense 1 2 1 2 Costs applicable to sales $265 $229 $294 $251 Depreciation, depletion, and amortization $43 $98 $76 $98

The Company's second quarter earnings conference call and web cast presentation will be held on August 2, 2007 beginning at 4:00 p.m. Eastern Time (2:00 p.m. Mountain Time). To participate:

Dial-In Number: 210.839.8500 Leader: Randy Engel Password: Newmont

The conference call will also be simultaneously carried on our web site at http://www.newmont.com/ under Investor Information/Presentations and will be archived there for a limited time.

Cautionary Statement:

This news 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 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; (iii) estimates of future capital expenditures, royalty and dividend income, tax rates and expenses; (iv) estimates regarding timing of future development, construction, production or closure activities; and (v) statements regarding future exploration results and the replacement of reserves. 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. 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.