Newmont Agrees to Sell Royalty and Other Non-core Assets Valued at Approximately $1.3 Billion to Franco-Nevada

    - Expects to record pre-tax gain of approximately $0.95 billion in fourth

    DENVER, Nov. 30 /CNW/ -- Newmont Mining Corporation (NYSE:   NEM) confirmed
today that it has agreed to sell its royalty assets and certain other non-core
investments to Franco-Nevada Corporation ("Franco- Nevada") in a transaction
valued at approximately $1.3 billion (assuming a 20 day average US
dollar/Canadian dollar exchange rate of 1.034). The agreement marks the
culmination of the process announced earlier this year by Newmont to monetize
components of its royalty and equity portfolio to fund the development of its
core gold business. Newmont expects to record a pre-tax gain from discontinued
operations of approximately $0.95 billion in the fourth quarter in connection
with the completion of the sale.
    In connection with this transaction, Pierre Lassonde has resigned from
Newmont's board of directors and will serve as Non-Executive Chairman of
Franco-Nevada's board of directors.
    Richard O'Brien, Newmont's President and CEO, said, "As we previously
disclosed, we embarked upon a dual-track process to maximize the value of
these assets for the benefit of our shareholders, and we are extremely pleased
with the outcome. We remain focused on our core gold operations and intend to
reinvest the proceeds to increase gold price leverage for our shareholders. I
would like to take the opportunity to extend my personal gratitude and our
sincere appreciation to Pierre Lassonde for his vision, counsel and tireless
support of Newmont."
    Cautionary Statement:
    This news release contains forward-looking statements, including
"forward- looking statements" within the meaning of applicable Canadian and
United States securities laws. Such forward-looking statements include,
without limitation, statements regarding the timing, terms and conditions and
anticipated consequences of the possible transaction. Where statements by
Newmont express or imply 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. Newmont expressly disclaims 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.

For further information:

For further information: Investors, John Seaberg, +1-303-837-5743,, or Media, Omar Jabara, +1-303-837-5114,, both of Newmont

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