Acquisition of Common Shares of Gabriel Resources Ltd.

    DENVER, June 2 /CNW/ -- Newmont Canada Limited ("Newmont") announced that
it has acquired 3,878,302 common shares of Gabriel Resources Ltd. ("Gabriel")
through open market purchases on the Toronto Stock Exchange, representing
approximately 1.5% of Gabriel's outstanding common shares. Newmont holds, in
the aggregate as of today's date, 50,724,702 common shares, representing
approximately 19.9% of the outstanding common shares of Gabriel. The average
price paid by Newmont for the acquisition of the 3,878,302 common shares is
Cdn. $2.86 per common share.
    The acquisition of the common shares of Gabriel was made for investment
purposes only. Newmont may, subject to market conditions and in accordance
with applicable securities laws, take other actions in respect of its
investment in Gabriel, including making additional investments in or effecting
dispositions of securities of Gabriel, including additional purchases of
common shares of Gabriel.
    As previously disclosed by Gabriel, Newmont has entered into a nominee
agreement with Gabriel in respect of the appointment of two nominees of
Newmont to the board of Gabriel. The nominee agreement also provides, among
other things, that at Gabriel's 2008 annual meeting, Newmont will vote its
securities in favor of each of Management's nominees for election to the
Board, appointment of auditors and amendment of the Company's deferred share
unit plan. The Nominee Agreement also restricts Newmont from taking certain
actions (subject to certain exceptions), including without limitation,
acquiring any securities of Gabriel that would result in Newmont holding 20.0%
or more of the outstanding common shares of Gabriel. The Nominee Agreement
terminates, among other events, upon the resignation of Newmont's nominee.

    Further information (including a copy of the report to be filed with
Canadian securities regulators in connection with these acquisitions) can be
obtained by contacting:

     Investor Contacts
     John Seaberg          303.837.5743 

     Media Contacts
     Omar Jabara           303.837.5114 

For further information:

For further information: investors, John Seaberg, +1-303-837-5743,, or media, Omar Jabara, +1-303-837-5114,, both of Newmont Mining Corporation

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890