Newmont Increases Ownership of Miramar to Approximately 93 Percent and Extends Offer for Miramar

    Offer period extended to January 18, 2008

    DENVER, Jan. 4 /CNW/ -- Newmont Mining Corporation (NYSE:   NEM) announced
today that Newmont Mining B.C. Limited, an indirect wholly-owned subsidiary of
Newmont, has taken up 189,393,986 common shares of Miramar Mining Corporation
(Amex:   MNG; TSX: MAE) under its offer to acquire all of the common shares of
Miramar at a price of Cdn. $6.25 cash per common share. The common shares that
have been taken up under the offer represent approximately 92 percent of the
outstanding common shares of Miramar, not including the 18,500,000 common
shares indirectly owned by Newmont at the time it made the offer. The common
shares that have been taken up under the offer, together with the 18,500,000
common shares already indirectly owned by Newmont, represent approximately 93
percent of the outstanding common shares of Miramar.
    Newmont is extending the period for acceptance of its offer until 8:00
p.m. (Toronto time) on January 18, 2008 to permit shareholders of Miramar that
have not yet tendered to the offer to do so. Newmont intends to proceed to
acquire any common shares of Miramar that are not tendered to the offer
pursuant to statutory compulsory acquisition rights.
    The offer and take-over bid circular dated October 31, 2007 and the
notices of extension dated December 6, 2007 and December 21, 2007, which have
been filed with the Canadian securities commissions and the United States
Securities and Exchange Commission are, and the notice of extension that is
being filed will be, available at and
    MacKenzie Partners, Inc. is the information agent for the offer.
Shareholders can obtain copies of the offer and take-over bid circular and
related materials and the notices of extension at no charge from the
information agent, at (800) 322-2885 or by email at
    About Newmont:
    Founded in 1921 and publicly traded on the NYSE since 1925, Newmont is
one of the largest gold companies in the world. Headquartered in Denver,
Colorado, the company employs approximately 15,000 people, the majority of
whom work at Newmont's core operations in the United States, Australia, Peru,
Indonesia and Ghana. Newmont is the only gold company listed in the S&P 500
index and in the Dow Jones Sustainability Index-World. Newmont's industry
leading performance is reflected through high standards in environmental
management, health and safety for its employees and creating value and
opportunity for host communities and shareholders.
    About Miramar:
    Miramar is a Canadian gold company that controls the Hope Bay Project,
one of the largest undeveloped gold projects in North America. The Hope Bay
Project extends over 1,000 square kilometers and encompasses one of the most
prospective undeveloped greenstone belts in North America.
    Newmont and Miramar have filed (or will be filing) materials related to
the offer for all of the outstanding common shares of Miramar, including the
offer, the accompanying take-over bid circular and the Miramar directors'
circular and the notices of extension, with the Canadian securities
commissions and the U.S. Securities and Exchange Commission. Investors and
security holders are advised to read these materials because they contain
important information. Investors and security holders may obtain materials
that are filed with the Canadian securities commissions and the SEC, including
the offer, the accompanying take-over bid circular and Miramar's directors'
circular and the notices of extension, at and
    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 proposed 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 does not undertakes, and 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. Additionally, Newmont expressly
disclaims any obligation to comment on expectations of, or comments made by,
third parties in respect of the proposed transaction.

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 Web Site:

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