Newmont Mining (NYSE:NEM) Generates First Quarter 2010 Operating Cash Flow of $728 Million; Adjusted Net Income(1) of $408 million, up 105% from First Quarter 2009

Newmont Mining (NYSE:NEM) Generates First Quarter 2010 Operating Cash Flow of $728 Million; Adjusted Net Income(1) of $408 million, up 105% from First Quarter 2009

This release should be read in conjunction with Newmont’s First Quarter 2010 Form 10-Q filed with the Securities and Exchange Commission on April 27, 2010 (available at www.newmont.com)

DENVER, April 27 ( Investorideas.com Mining newswire) Newmont Mining Corporation (NYSE:NEM) (“Newmont” or the “Company”) today announced first quarter results, with net cash from continuing operations of $728 million. Equity gold production for the quarter was 1.3 million ounces and the average realized gold price was $1,106 per ounce. Costs applicable to sales for gold were $480 per ounce on a co-product basis, resulting in adjusted net income(1) of $408 million ($0.83 per share) compared to $199 million ($0.42 per share) in the prior year quarter. Net income attributable to Newmont stockholders on a GAAP basis was $546 million ($1.11 per share) compared to $189 million ($0.40 per share) in the prior year quarter.

First Quarter 2010 Highlights:

•Equity gold and copper production of 1.3 million ounces and 90 million pounds, respectively;

•Average realized gold and copper price of $1,106 per ounce and $3.33 per pound, respectively;

•Costs applicable to sales for gold and copper of $480 per ounce on a co-product basis ($241 on a by-product basis) and $0.78 per pound, respectively;

•Sales of $2.2 billion, an increase of 46% over the first quarter of 2009;

•Gold operating margin(2) of 57%, up from 52% in the first quarter of 2009;

•Net cash provided from continuing operations of $728 million, up 91% from the first quarter of 2009;

•Adjusted net income(1) of $408 million ($0.83 per share), up 105% (98% on a per share basis) from the first quarter of 2009; and

•Maintaining 2010 outlook for gold production, costs applicable to sales and capital expenditures.

“With a 22% increase in our average realized gold price, our net gold operating margin expanded by 32% to $626 per ounce, further demonstrating our ability to provide significant gold price leverage through expanding cash operating margins,” said Richard O’Brien, President and Chief Executive Officer. “We also recently secured the mining lease for our Akyem project in Ghana and continue our dialogue with local communities and Ghanaian authorities. In addition, we are advancing our development plans at Conga in Peru following a successful public meeting with local stakeholders. The strength of our balance sheet coupled with the progress being made on our advanced development assets, Newmont is well positioned to invest in our project pipeline while maintaining our financial strength and flexibility.”

The Company is maintaining its previously announced 2010 outlook for equity gold production of 5.3 to 5