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Dec. 20, 2021, 6:58 p.m. EST

Newcrest Welcomes Pretivm's Release of Information Circular

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    Newcrest Mining Ltd. (NCM)

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Melbourne, Australia, Dec 20, 2021 (Newsfile Corp via COMTEX) -- Melbourne, Australia--(Newsfile Corp. - December 20, 2021) - Newcrest Mining Limited (asx:NCM) /zigman2/quotes/200289815/delayed CA:NCM +0.69% (pngx:NCM) today welcomes the release by Pretium Resources Inc. (Pretivm) of the Management Information Circular (Circular) for the special meeting of shareholders and option holders (securityholders) of Pretivm.

The Circular contains information on the plan of arrangement (Plan) pursuant to which Newcrest will acquire Pretivm and sets the date for the meeting of Pretivm's securityholders to vote on the Plan as 20 January 2022 (2:00pm Vancouver time). Pretivm will send the Circular to its securityholders.

Newcrest's offer to acquire Pretivm is unanimously recommended by the Board of Directors of Pretivm, and the Directors have also entered into voting and support agreements under which they have agreed to vote in favour of the transaction for any securities they hold or control.

Completion of the transaction is subject to 66 2/3% of the votes held by Pretivm securityholders voting in person or by proxy at the meeting in favour of the Plan, approval of the Supreme Court of British Columbia and regulatory approvals including approval under the Investment Canada Act.

The benefits for Newcrest of acquiring Pretivm, which owns the Brucejack mine in British Columbia, include:

  • Addition of a Tier 1 large scale, long life, low cost mine to Newcrest's portfolio of Tier 1 assets

  • Immediate increase in Newcrest's gold production by >300koz pa (~15%) to well above 2Moz [(1,2,3)]

  • Accretive to Newcrest's EBITDA and cash flow

  • Immediate operational and financial diversification from a Tier 1 jurisdiction

  • Growth in a region where Newcrest already operates and has strong existing relationships

  • Significant near mine and district-scale exploration opportunity with exciting potential to realise resource and reserve growth

Authorised by the Newcrest Disclosure Committee

For further information please contact

Investor Enquiries
Ryan Skaleskog
+61 3 9522 5407
+1 866 396 0242
+61 403 435 222
Ryan.Skaleskog@newcrest.com.a

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, study or construction dates, 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.

/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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