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Aug. 3, 2022, 7:38 p.m. EDT

Newcrest Announces - Cadia Vent Rise Remediation Progressing with No Production Impacts Expected

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Melbourne, Australia, Aug 03, 2022 (Newsfile Corp via COMTEX) -- Cadia ventilation rise remediation progressing with no production impacts expected

Melbourne, Australia--(Newsfile Corp. - August 3, 2022) - Newcrest Mining Limited (asx:NCM) /zigman2/quotes/200289815/delayed CA:NCM +0.69% (pngx:NCM) (Newcrest) confirms that activities are underway to remediate instability identified in a ventilation rise at its Cadia mine, which are not expected to impact FY23 production.

All surface activities remain operational, with significant surface stockpiles available for processing well into September 2022. Underground mining has been temporarily suspended and is expected to recommence in the coming weeks, once works to safely backfill the rise have been completed.

Newcrest is taking an appropriately precautionary approach to monitoring and resolving this issue, with a strong commitment to keeping our people and the community safe.

An update on activities will be provided with Newcrest's Full Year Financial Results, to be released on 19 August 2022.

Authorised by the Newcrest Disclosure Committee

For further information please contact

Investor Enquires
Tom Dixon
+61 3 9522 5570
+61 450 541 389
Tom.Dixon@newcrest.com.au

Rebecca Lay
+61 3 9522 5298
+61 438 355 511
Rebecca.Lay@newcrest.com.au

North American Investor Enquiries
Vlada Cvijetinovic
+1 604 566 8781
+1 604 240 2998
Vlada.Cvijetinovic@newcrest.com.au

Media Enquiries
Tim Salathiel
+61 3 9522 4263
+61 407 885 272
Tim.Salathiel@newcrest.com.au

This information is available on our website at www.newcrest.com

Forward Looking Statements

This document includes forward looking statements and forward looking information within the meaning of securities laws of applicable jurisdictions. Forward looking statements can generally be identified by the use of words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "targets", "outlook" and "guidance", or other similar words and may include, without limitation, statements regarding estimated reserves and resources, certain plans, strategies, aspirations and objectives of management, anticipated production, sustainability initiatives, dates for projects, reports studies or construction, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines. Newcrest continues to distinguish between outlook and guidance. Guidance statements relate to the current financial year. Outlook statements relate to years subsequent to the current financial year.

These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause Newcrest's actual results, performance and achievements or industry results to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward-looking statements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Newcrest operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation. For further information as to the risks which may impact on Newcrest's results and performance, please see the risk factors in the Appendix 4E and Financial Report for the year ended 30 June 2021 and the Annual Information Form dated 6 December 2021 which are available to view at www.asx.com.au under the code "NCM" and on Newcrest's SEDAR profile.

Forward looking statements are based on Newcrest's good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Newcrest's business and operations in the future. Newcrest does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Newcrest. Readers are cautioned not to place undue reliance on forward looking statements, particularly in the current economic climate with the significant volatility, uncertainty and disruption caused by the COVID-19 pandemic. Forward looking statements in this document speak only at the date of issue. Except as required by applicable laws or regulations, Newcrest does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in assumptions on which any such statement is based.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132795

COMTEX_411534436/2523/2022-08-03T19:38:26

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copyright (c) newsfile corp. 2022. all rights reserved

/zigman2/quotes/200289815/delayed
CA : Canada: Toronto
$ 18.87
+0.13 +0.69%
Volume: 25,681
Nov. 25, 2022 4:00p
P/E Ratio
14.43
Dividend Yield
0.00%
Market Cap
$16.08 billion
Rev. per Employee
N/A
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