Sinclair says it''s time to commit fully to gold investments

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Newmont Press Release

DENVER, June 16 -- Newmont Mining Corporation today
extended the consent payment deadline in regard to the
offer through its subsidiary, Yandal Bond Company
Limited, to acquire all of the outstanding 8 7/8 percent
Senior Notes due April 2008 issued by Newmont's
Australian subsidiary, Newmont Yandal Operations
Limited (Yandal), formerly Great Central Mines Ltd.

Under the original terms of the offer, in order to receive
the consent payment of $20 per $1,000 principal amount
of the notes, holders had to tender their notes and
provide their consents to the proposed amendments to
the indenture pursuant to which the notes were issued
by the consent payment deadline, which was 5 p.m.,
New York City time, on June 12, 2003.

A total principal amount of $39.28 million of notes were
tendered before the original consent payment deadline.
However, several note holders requested an extension
to the consent payment deadline to allow for additional
time to analyze the offer. Newmont has agreed to this
request.

Under the amended offer terms, holders that tender
their notes and provide their consent to the proposed
amendments by the scheduled expiration time of the
offer, which is 5 p.m., New York City time, on June 26,
2003, will be entitled to receive the consent payment
of $20 per $1,000 principal amount of the Notes.

Citigroup Global Markets Inc. is the dealer manager
and Mellon Investor Services LLC is the depositary
and information agent for the tender offer and consent
solicitation. Note holders' requests for documentation
should be directed to Mellon Investor Services at
(917) 320-6286 (for banks and brokers) or toll-free
(800) 392-5792. Questions regarding the transaction
should be directed to Citigroup Global Markets Inc.
at (800) 558-3745.

The offer to purchase notes and consent solicitation
are being made solely by the Offer to Purchase and
Consent Solicitation Statement dated May 29, 2003,
and the related Letter of Transmittal and Consent, as
they may be supplemented or amended, which set
forth the complete terms of the tender offer and consent
solicitation.

The bond offer was made concurrently with an offer by
YBCL to acquire all of the hedge positions of Yandal's
seven gold hedge counterparties. The only hedge
counterparty that did not accept the May 28, 2003,
offer by YBCL has stated that it is continuing to evaluate
YBCL's offer in the context of developments relating to
Yandal. This counterparty has indicated that it will not
demand payment under an alleged early termination
event in its hedge contract until close of business on
June 26, 2003.

This forbearance was conditioned upon the
reinstatement and continuing effectiveness through the
forbearance period of YBCL's May 28, 2003, offer to
purchase that counterparty's hedge positions with
Yandal. YBCL has agreed to reinstate its offer to the
counterparty and continue that offer's effectiveness
through close of business on June 26, 2003.

Newmont, based in Denver, is the world's premier
gold mining company and the largest gold producer
with significant assets on five continents.