Newmont Offer to Acquire Miramar Mining Receives Investment Canada Approval

    DENVER, Dec. 18 /CNW/ -- Newmont Mining Corporation (NYSE:   NEM) announced
today that the Minister of Industry, The Honourable Jim Prentice, confirmed
that he is satisfied that the acquisition of Miramar Mining Corporation (Amex:  
MNG, TSX: MAE), on the terms provided in the support agreement relating to the
transaction and certain undertakings provided by Newmont, is likely to be of
net benefit to Canada, as required by the Investment Canada Act.
    Richard O'Brien, President and Chief Executive Officer of Newmont, said,
"With the necessary regulatory approvals from the Canadian authorities, we
look forward to completing this investment and focusing on the disciplined
development of the Hope Bay Project for the benefit of Newmont's shareholders,
Nunavut and the communities near Hope Bay."
    Newmont's offer to acquire the common shares of Miramar for C$6.25 per
share will expire at 5:00 p.m. (Toronto time) on December 21, 2007. The offer
remains subject to there having been deposited a number of common shares of
Miramar that, together with the common shares held by Newmont and its
affiliates, constitutes at least 66 2/3 percent of the common shares of
Miramar then outstanding. Miramar shareholders are encouraged to tender their
shares as soon as possible. All of the directors and senior officers of
Miramar have tendered their shares to the offer.
    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 at no charge from the information agent, MacKenzie Partners,
Inc. 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.
    More Information and Where to Find It:
    Newmont and Miramar have filed 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 a
notice of extension of the offer, 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 notice 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 or Miramar 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. The completion of the proposed
transaction is subject to a number of terms and conditions including, without
limitation, acceptance of the offer by holders of the requisite number of
common shares of Miramar and certain termination rights available under the
agreement relating to the transaction. Neither Newmont nor Miramar undertakes,
and each 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 and Miramar each 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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