GHANA — NEW GROWTH REGION

Newmont is currently developing Ghana into its fifth core district, with a land package covering approximately 2,100 square miles. The Ahafo and Akyem projects are expected to commence production in the second half of 2006 and 2007, respectively.

Newmont obtained the properties through the Normandy Mining acquisition in 2002. After reinterpreting the historical data and conducting additional drilling that year, Newmont concluded that Ahafo and Akyem represented substantial economic deposits. Since 2002, exploration has successfully expanded the deposits from 4.9 million equity ounces in 2002 to 16 million equity ounces at the end of 2004.

Ahafo’s extensive land package includes 11 open pit deposits. Groundbreaking at Ahafo occurred in April 2004. Ahafo is expected to generate average annual gold sales of 500,000 to 550,000 ounces over the first five years of production at total cash costs of approximately $200 per ounce. In 2005, the exploration team is conducting development drilling to convert mineralized material to reserves and to expand the existing mineralized zones in the north and south areas.

At the Akyem open pit deposit, a development decision is expected by mid- 2005. Akyem is expected to generate average annual gold sales of 380,000 to 425,000 equity ounces over the first five years of production at total cash costs of $200 to $220 per ounce. Akyem remains open at depth, with drilling continuing in 2005 to further define the pit boundaries. Once both projects are operational, they are expected to contribute almost one million ounces of equity production annually.