DENVER--(BUSINESS WIRE)--Newmont Mining Corporation (NYSE: NEM) (Newmont or the Company) today announced an agreement to access and explore a highly prospective gold district in Canada’s Yukon Territory through a private placement with Goldstrike Resources (Goldstrike). The agreement entitles Newmont to earn up to 80 percent equity in the Plateau property through exploration investment. The Plateau property is a newly discovered gold system consisting of more than 2,000 claims covering 350 square kilometers. Initial drill results are promising and high grade gold mineralization has been identified over a 50 kilometer strike length.
“The Plateau agreement strengthens our long-term growth pipeline and leverages our world class exploration capabilities,” said Gary Goldberg, President and Chief Executive Officer. “We’ve added more than 125 million ounces of gold reserves by the drill bit over the last 16 years and about three-quarters of our reserves are located in North America and Australia. We will continue to invest in opportunities that combine the best value with the most favorable technical and geopolitical attributes.”
In 2017, Newmont expects to boost its exploration and advanced projects expenditure by 22 percent, with about two-thirds of that amount going to fund more brownfields and greenfields exploration.
Newmont is a leading gold and copper producer. The Company’s operations are primarily in the United States, Australia, Ghana, Peru and Suriname. Newmont is the only gold producer listed in the S&P 500 Index and was named the mining industry leader by the Dow Jones Sustainability World Index in 2015 and 2016. The Company is an industry leader in value creation, supported by its leading technical, environmental, social and safety performance. Newmont was founded in 1921 and has been publicly traded since 1925.
Cautionary Statement Regarding Forward-Looking Statements:
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections and other applicable laws. Such forward-looking statements may include, without limitation, estimates and expectations of future pipeline growth and capabilities, future exploration and related capital expenditures, prospective mineralization, and future investments and/or related potential increases in equity ownership in the Plateau property. Drill results and preliminary grade indications are not necessarily indicative of future results and remain subject to further exploration. Where the Company expresses or implies 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, such statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed or implied by the “forward-looking statements.” For a discussion of such risks relating to our business and other factors, see the Company’s Form 10-K, filed on or about February 21, 2017, with the Securities and Exchange Commission (SEC) under the headings “Risk Factors” and “Forward-Looking Statements.” The Company does not undertake any obligation to release publicly revisions to any “forward-looking statement,” including, without limitation, outlook 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. Investors should not assume that any lack of update to a previously issued “forward-looking statement” constitutes a reaffirmation of that statement. Continued reliance on “forward-looking statements” is at investors' own risk.