Nevada - Newmont

1
Nevada - Newmonts Foundation
Trent Tempel, General Manager, Eastern Nevada Ali
Soltani, General Manager, Western Nevada John
McKinstry, General Manager, Midas
June 2002
Nevada Tour June 2002
2
Nevada Newmonts Foundation
2000 2001 2002E Production 3.0 2.7 2.7 Cash
cost/oz 203 222 205-210

• 38 years of innovation
• Produced 36 million ounces
• 31 million ounces of reserves
• 2,600 employees
• Utilization of our asset base

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Newmont Mines and Property
Twin Creeks
Midas
NORTH
20
0
Deep Post
Miles
Deep Star
Winnemucca
Elko
Carlin
Trenton
80
Gold Quarry
Phoenix
Mule Canyon
Checkerboard Property
NEVADA
1996 Newmont Gold Company 1997 Santa Fe
merger 2001 Battle Mountain Gold merger 2002
Normandy merger Barrick/Homestake
1.8 million acres
4
A Long-Lived Core Asset

• Unparalleled mining and processing flexibility
• 9 open pit 5 underground mines
• 15 processing facilities
• Pipeline of new projects to sustain production

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Current Nevada Ore Flows
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Generalized Processing Matrix
Refractory
High
Low
Low
ROM Dump Leach (0.50-0.65) Twin Creeks Lone
Tree Complex South Area Twin Creeks North Area
Low
Dump Oxidation - Low-Ratio Leach
(1.50-2.25) Twin Creeks Lone Tree South
Area North Area
Grade oz/t
Ore Grade (oz/t)
Crushed Dump Leach (1.00-1.40) South Area
North Area
Bio-Milling (7.00-9.00) Mill 5 - South Area
Cost/ton
Direct Cyanide Mill (3.00-16.00) Mill 5
South Area Juniper Twin Creeks Sage Twin
Creeks Midas Western Nevada
Cost /t
Flotation to Autoclave or Roaster (7.50-8.00)
Lone Tree
High
Refractory Milling (16.00-20.00) Sage
Autoclave Twin Creeks Lone Tree
Autoclave Mill 6 Roaster South Area
High
7
Gold Production
(million ounces)
3.04
2.78
2.70
2.77
2.7
2.50
2.33
35
67
42
68
54
65
30
Cash Cost 232 205 209 211
203 222 205-210 Total Cost 302
268 273 263 260
269 260-270
8
Gold Production
(million ounces)
3.04
2.78
2.77
2.70
2.7
2.50
2.33
Cash Cost 232 205 209 211
203 222 205-210 Total Cost 302
268 273 263 260
269 260-270
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Nevada Manpower
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Significant Initiatives

• Electrical Power
• 65 million per year operating cost for Nevada
  (2nd to labor)
• Tiger Teams integral to reducing consumption
  (10)
• Workforce Optimization
• Comprehensive review of organizational structure
• Natural extension of 5-year attrition mode
• Total employment down from 3,500 to 2,600 since
  1997
• Midas Integration
• Accelerated integration
• Synergies of 8 million per annum
• Other
• 80 100 teams focused on wide spectrum of change
  initiatives
• Key focus safety, environmental, productivity,
  cost and cash flow

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Capital Expenditures
( million)
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Production Pipeline

• First Production
• Deep Post Underground 2001
• Gold Quarry Chukar Underground 2002E
• Gold Quarry South Layback 2004E
• Leeville Underground 2005E
• Twin Creeks South Layback 2005E
• Phoenix Sulfide 2008E
• Emigrant Pit ?????
• Gold Margin Underground ?????
• Rain Saddle Underground ?????

Capital rationing and flexible scheduling to
sustain Nevada production.
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Deep Post Underground Mine

• Life-of-mine 3.1 million ounces _at_ 0.76 opt
• Commenced production 2Q 2001 ahead of schedule
• Annualized mining rate 1,500 tpd
• Average annual production 416,000 ounce
  (2003-2006)
• Total cash costs 159/ounce
• Recent developments
• Increased production due to higher grade
• Better ground conditions
• Exploration upside

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Chukar Underground

• Chukar Underground
• Currently in development
• 6 million capital cost
• Au Reserves (300/ounce)
• 278,000 tons at 0.49 ounces/ton containing
  138,000 ounces
• NRM 115,000 tons at 0.46 opt
• Production
• 2 - 4 years at approximately 80,000 ounce
• 180 - 184/ounce cash cost
• High grade feed for Carlin roaster

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Gold Quarry South Layback

• Au Reserves (300/ounce)
• 60.1 million tons 0.063 opt containing 3.8
  million ounces
• Production
• 6 years totaling 2.6 million ounces
• 230/ounce cash cost
• First full year of production begins 2004
• Open pit mining
• Capital Cost
• 26 million
• Recent Developments
• Concurrent reclamation
• Improved mine design with phased approach

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Leeville Underground

• Au Reserves (300/ounce)
• 6.5 million tons at 0.46 opt containing 3.0
  million ounces
• NRM 1.6 million tons at 0.53 opt
• Production
• 7 years at approximately 500,000 ounces per
  annum
• 195/ounce cash cost
• Production would begin in 2005
• High grade feed for the Carlin roaster
• Capital Cost
• 170 million
• Recent Developments
• Change in mining method
• Change in mining sequence

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Twin Creeks South Layback

• Au Reserves (300/ounce)
• 29.3 million tons at 0.066 opt containing 1.9
  million ounces
• Non-reserve material 5.9 million tons at 0.051
  opt
• Production
• 7 years totaling 1.6 million ounces
• 210/ounce cash cost
• Production begins 2005
• Open pit mining
• Feed Juniper Oxide Mill for 6 years
• Capital Cost
• 15 million - 20 million
• Recent Developments
• Ability to backfill
• Positive model reconciliation

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Phoenix Sulfide

• Au Reserves (300/ounce)
• 174 million tons at 0.034 opt containing 6.0
  million ounces
• NRM 142 million tons at 0.024 opt
• Copper Reserves
• 461 million pounds
• Production
• 13 years at average of 390,000 ounces Au, 27.5
  million pounds Cu
• 150/ounce cash cost (after by-product credits)
• Production begins 2008
• Feed for Lone Tree autoclave
• Capital Cost
• 200 million - 225 million
• Including 35 million for SX-EW / upgrading Lone
  Tree

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Eastern Nevada
Cornerstone of our Nevada Foundation
Carlin Roaster
Total Nevada Reserves 15.1 million
ounces 48 Mining 52 million tons/year 35
2002E mine production 1.2 million
ounces 36 2002E process production 1
million ounces 36
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Carlin Highlights

• Roaster
• Lower temperatures result in higher recovery
• Improved availability
• Bio-Mill
• Improved heap permeability
• Improved CIL efficiency
• Deep Post
• Exploration upside
• Stockpile Management
• Drilling and kreiging stockpiles
• Maximizing cash flow
• Concurrent Reclamation

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Improving Roaster Productivity
Throughput (000 tons)
Availability
Ounces Produced (000)
Grade and Recovery
98 99 00 01 02E Grade opt 0.23 0.25 0.30 0.24 0.
24 Recovery 90 90 88 90 91
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Western Nevada
Featuring Million-Ounce Producer Twin Creeks
Twin Creeks
Total NV Reserves 16.2 million
ounces 52 Mining 100 million tons/yr 65 2002E
mine production - 2.1 million ounces 64 2002E
process production - 1.7 million ounces 64

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Western Nevada Opportunities

• Manpower flexibility
• Equipment utilization
• Toll milling
• Oxide mine plan at Phoenix
• Synergies
• Carbon handling (Carlin, Mesquite)
• Refining (Carlin, Mesquite, Midas)

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Twin Creeks Profile
Newmonts largest Nevada mine
Total NV Reserves 6.0 million
ounces 19 Mining 50 million tons/yr 33 2002E
mine production - 1.30 million ounces 39 2002E
process production - 1.03 million ounces 36
Processing 2 autoclaves 2 oxide
mills 3 oxide leach pads Includes other ore
sources
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Twin Creeks Autoclaves Production Summary 2002
Autoclaves - 3,454 k tons _at_ 0.243 opt - 89
Recovery 747,000 ounces
Excludes Getchell toll milling
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Lone Tree Complex Profile


Total NV Reserves 2.1 million ounce
7 Mining 50 million tons/year 32 2002E mine
production - 582,000 ounces 18 2002E process
production - 573,000 ounces 21
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Lone Tree Autoclave Production Summary 2002
875 k tons _at_ 0.566 opt - 94.6 recovery
469,000 ounces
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Midas Profile

• Au Reserves (300/ounces)
• 2.1 million ounces
• Production (10.5 months of 2002)
• 200,000 ounces
• 970 tpd
• 1.7 million ounces Ag by-product
• Cash Cost 100/ounce
• Free Milling

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Midas Mining

• High grade (0.67oz/t)
• Quartz vein
• Low sulfides
• Narrow, steep dipping
• Selective mining
• Decline access

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Midas Milling

• Specialty mill
• High recoveries
• Merrill Crowe
• Environmentally sound
• Optimization study initiated

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Midas Opportunities

• Midas Synergies
• Production
• Staff
• Hourly
• Procurement
• Ore Haulage
• Bussing
• Assays
• Other
• Annual Savings 8 million

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Midas Highlights Additional Opportunities

• Utilizing spare capacity at Twin Creeks for
  treating low grade ore
• Increased production and efficiency
• Exploration upside potential

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Western Nevada Opportunities

• Equipment utilization
• Lone Tree pit backfill
• Reduced LOM mining cost 20
• Twin Creeks pit backfill
• Reduced LOM mining cost 15

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Western Nevada Opportunities

• Sloping of leach pads
• Phoenix Project
• Focus on capital reduction
• Utilize idle Newmont milling assets
• Review cost of crushing vs SAG milling
• Use of Echo Bay-McCoy Cove assets
• High pressure grinding rolls

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Western Nevada Opportunities

• Getchell Ores
• Tolling agreement
• 125,850 tons
• 0.417 opt
• 49,234 recovered ounces to Placer Dome

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Nevada Operations On-going Optimization

• Optimize people retention and development
• Optimize equipment
• Ore transport/processing synergies
• Optimize procurement practices
• Focus on technical staff and technology

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Cautionary Statement
PRIVATE SECURITIES LITIGATION REFORM ACT SAFE
HARBOR STATEMENT This presentation contains
forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of
1934, as amended, that are intended to be covered
by the safe harbor created by such section. Such
forward-looking statements include, without
limitation, (i) estimates of future earnings, and
the sensitivity of earnings to the gold and other
metals prices (ii) estimates of future gold and
other metals production and sales, (iii)
estimates of future cash costs and total
production costs (iv) estimates regarding future
synergy savings from acquisitions (v) estimates
of future cash flows, and the sensitivity of cash
flows to the gold and other metals prices (vi)
statements regarding future debt repayments and
the restructuring or refinancing of credit
facilities and other indebtedness (vii)
estimates of future capital expenditures (viii)
statements regarding future exploration results
and the replacement of reserves (ix) statements
regarding future asset sales or rationalization
efforts and (x) statements regarding
modifications to the company's hedge 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, such 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, increased production costs and
variances in ore grade or recovery rates from
those assumed in mining plans, as well as
political and operational risks and governmental
regulation and judicial outcomes. For a more
detailed discussion of such risks and other
factors, see Page 8 of the company's 2001 Annual
Report on Form 10-K, which is on file with the
Securities and Exchange Commission, as well as
the company's other SEC filings. The company
disclaims any intention to update any forward
looking statement.