Newcrest Mining Limited - Quarterly Exploration Report - 31 December 2022

Q2 results strengthen growth potential across expanding exploration portfolio

At Brucejack, drilling continues to enhance the resource growth potential at the Valley of the Kings (VOK) deposit and the surrounding area, with intercepts expanding the strike extent at the 1080 HBx Zone and demonstrating continuity at Golden Marmot which are located outside the current Pretium published resource.

• At 1080 HBx Zone, drilling to expand the VOK deposit continues to confirm the continuity of higher grade mineralisation at depth and to the south, with 6 of 20 holes returning intervals in excess of 5 grams per tonne gold. Mineralisation now extends over 145m of strike length and remains open. Results include, VU-4624, 10.5m @ 917g/t Au from 235.5m, including 1m @ 9,618g/t Au from 244m, which is the highest grade returned from the 1080 Hbx Zone to date. In addition, VU-4626 returned 11m @ 269g/t Au from 173.5m, including 1m @ 2,954g/t Au from 174.5m.

• At Golden Marmot, located ~3.5km north of the VOK, assays were received for a further 22 holes. Holes were drilled to infill the main zone demonstrating continuity of the higher grade over an area 100m wide, 200m long, and 300m high with 5 of 22 holes returning intervals in excess of 5 grams per tonne gold. Results include, SU-893, 18m @ 12g/t Au from 211.5m, including 1m @ 184g/t Au from 227m. In addition, SU-899 returned 1m @ 8,000g/t Au from 164.67m, which is the highest grade returned from Golden Marmot to date.

At Red Chris, drilling at East Ridge continues to confirm continuity and expand the footprint of higher grade mineralisation and strengthen the potential for resource growth.

• At East Ridge, drilling continues to expand the vertical extent of the mineralisation within the Exploration Target area previously reported on 21 July 2022. Drilling has returned the deepest significant higher grade intercept at the project to date with RC857 intersecting 266m @ 0.43g/t Au & 0.57% Cu from 1,534m, including 34m @ 1.1g/t Au & 1.6% Cu from 1,706m. These results have extended the higher grade mineralisation, which remains open at depth, by a further 100m to a depth of more than 700m vertical.

At Havieron, drilling continues to reinforce the potential for incremental resource growth with higher grade extensions to the mineralisation in the Northern Breccia and the Eastern Breccia.

• In the Eastern Breccia, results outside the current Mineral Resource are HAD134, 82m @ 2.1g/t Au & 0.25% Cu from 1,508m, including 30m @ 2.4g/t Au & 0.19% Cu from 1,540m, HAD163, 86m @ 1.2g/t Au & 0.04% Cu from 1,415m, including 26m @ 1.9g/t Au & 0.09% Cu from 1,452m and HAD167, 78m @ 1.9g/t Au & 0.19% Cu from 1,516m.

• At the Northern Breccia, drill results include HAD098W7, 84m @ 3.2g/t Au & 0.14% Cu from 1,008m. Drilling is ongoing to define the extents of higher-grade zones of mineralisation.

At the new Spring Peak low sulfidation epithermal project in Nevada, initial exploration drilling has confirmed the presence of higher grade mineralisation in the Disco Zone with SP22-013 returning 34.72m @ 2.7g/t Au from 256.12m, including 2.01m @ 10g/t Au from 262.46m, 2.38m @ 16g/t Au from 275.26m and including 0.34m @ 70g/t Au from 275.96m. Mineralisation on the Disco Zone structure remains open at depth and along strike.

Melbourne, January 24, 2023 - Newcrest (ASX: NCM) (TSX: NCM) (PNGX: NCM) Interim Chief Executive Officer, Sherry Duhe, said, "We are delighted by our ongoing exploration success at Brucejack, Red Chris and Havieron, with the latest set of drilling results continuing to support the potential for significant resource growth across each of these key projects. At Brucejack, we delivered some outstanding results with mineralisation remaining open across the Valley of the Kings deposit and Golden Marmot area, further supporting this exciting opportunity which is being aggressively pursued by our exploration team.

"Positive initial results at the Spring Peak Project in Nevada indicate further growth potential and we were also very pleased to add the Mount Coolon project into our pipeline during the quarter, further enhancing our impressive global exploration portfolio," said Ms Duhe.

Brucejack, British Columbia, Canada⁽¹⁾

The Brucejack Property hosts the Valley of the Kings (VOK) high-grade gold deposit. The VOK is characterised by multiple occurrences of higher grade mineralisation over selected intervals hosted within broader zones of stockwork and vein arrays. Growth activities are focused on both resource expansion within the existing mine area, as well as brownfields exploration activities within 4km of the mine area.

Resource expansion drilling during the quarter was focused on targets in the 1080 HBx Zone and Bridge Zone North. A total of 7,665m in 33 drill holes was completed using 2 underground diamond drill rigs. Assay results were received for three drill fans in the 1080 HBx Zone. Assay results were also received from a further 22 drill holes at Golden Marmot, which was part of the surface brownfields diamond drilling completed last quarter. All other assays are pending.

At 1080 HBx Zone, assays were received for 20 drill holes (three drill fans). 16 drill holes intersected gold mineralisation, with 6 of the 20 drill holes intersecting higher grade mineralisation, in excess of 5 grams per tonne, including the highest grade intersection returned to date. Drill holes at 1080 HBx are collared within the current Pretium published resource for the initial 90 to 135 meters, depending on the orientation of the drill hole, and only results outside the resource are reported. The drill program was designed to follow up on the extensions of the high-grade gold mineralisation intersected in the 1080 East drill program (previously reported).

Results demonstrate the continuity of higher grade gold mineralisation hosted in the HBx Domain, sub-parallel to Domain 20, which is currently being mined in the VOK. Drill fans were spaced at 15 meters horizontally in order to rapidly advance this new zone. Assays received to date cover an area of 105m x 300m x 250m, and the HBx Domain has now been defined over a strike length of 145m. Drilling is currently in progress to test the HBx Domain further along strike.

Results for the reporting period include:

• VU-4624
  • 10.5m @ 917g/t Au from 235.5m
  • including 1m @ 9,618g/t Au from 244m
• VU-4626
  • 11m @ 269g/t Au from 173.5m
  • including 1m @ 2,954g/t Au from 174.5m

At Golden Marmot, assays were received for 22 drill holes. 11 drill holes intersected gold mineralisation, with 5 of 22 drill holes intersecting higher grade gold mineralisation, in excess of 5 grams per tonne, and include the highest grade returned to date.

The focus for the calendar year 2022 drill program at Golden Marmot was to infill the main zone identified in 2021 and began to step out from known mineralisation. Results to date have confirmed the presence of gold mineralisation within the main zone with dimensions of 100m wide, 200m long, and 300m high. Mineralisation encountered at Golden Marmot displays many of the salient geological features that characterise hanging wall domains in the VOK deposit immediately to the south. Future exploration drilling will focus on continuing to test the extent of the mineralisation which remains open to the south and at depth.

Results for the reporting period include:

• SU-893
  • 18m @ 12g/t Au from 211.5m
  • including 1m @ 184g/t Au from 227m
• SU-896
  • 1.5m @ 113g/t Au from 141m
  • 9m @ 10g/t Au from 160.5m
• SU-899
  • 1m @ 8,000g/t Au from 164.67m
• SU-903
  • 1m @ 1,740g/t Au from 414m

Approximately 54,000m of resource expansion drilling and 35,000m of brownfield exploration drilling targeting mineralisation definition and continuity are planned during calendar year 2023 with three drill rigs operating underground and four drill rigs operating on surface during the summer months.

Refer to Appendix 1 for additional information, and the drill hole data table for all results reported during the period.

Figure 1. Plan view map of the Brucejack Property, spanning the 4km gossanous trend from Golden Marmot and Hanging Glacier in the northwest to Bridge Zone in the southeast.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_003full.jpg

Figure 2. Long section view (looking west) of the Brucejack Property. Refer to figure 1 for the location of the cross section. Viewing window is +/- 150 meters.

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_004full.jpg

Figure 3. Plan view of the 1080 Level in the VOK, showing Domain 13, Domain 20, and the newly defined HBX Domain. The previously published Pretium resource is outlined in red.

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_005full.jpg

Red Chris, British Columbia, Canada⁽²⁾

Red Chris is a joint venture between Newcrest (70%) and Imperial Metals Corp. (30%) and is operated by Newcrest.

The Brownfield Exploration program is focused on the discovery of additional zones of higher-grade mineralisation within the Red Chris porphyry corridor, including targets outside of Newcrest's Mineral Resource estimate. During the quarter, there were up to seven diamond drill rigs in operation. A further 13,854m of drilling has been completed during the quarter from 18 drill holes, with all drill holes intersecting mineralisation. This contributed to a total of 300,154m of drilling from 291 drill holes since Newcrest acquired its interest in the joint venture in August 2019.

At East Ridge, located adjacent to the East Zone, drilling is ongoing with 71 holes completed and 5 in progress. Assays were received from 12 holes during the quarter. The follow up drilling is being completed on a nominal 100m x 100m grid to determine the footprint, characterise the mineralisation and to demonstrate the extent of continuity of the higher-grade mineralisation. Drilling to date has tested a corridor 900m long, 250m wide and to a vertical extent of 1,000m where zones of higher grade mineralisation have been identified.

East Ridge is outside of Newcrest's Mineral Resource estimate. Diamond drilling continues to define the extent and continuity of this higher grade mineralisation. A further 25 diamond drill holes at minimum are planned to test and close out the target mineralisation. This program is expected to be completed by the second quarter of calendar year 2023.

Results for the reporting period include:

• RC843
  • 202m @ 0.47g/t Au & 0.64% Cu from 810m
  • including 78m @ 0.83g/t Au & 1.0% Cu from 864m
  • including 32m @ 1.2g/t Au & 1.3% Cu from 908m
• RC848
  • 248m @ 0.33g/t Au & 0.46% Cu from 1,320m
  • including 52m @ 0.84g/t Au & 0.82% Cu from 1,492m
  • including 34m @ 1.0g/t Au & 0.86% Cu from 1,510m
• RC857
  • 266m @ 0.43g/t Au & 0.57% Cu from 1,534m
  • including 56m @ 0.83g/t Au & 1.2% Cu from 1,694m
  • including 34m @ 1.1g/t Au & 1.6% Cu from 1,706m

Drilling continues to expand the vertical extent of the East Ridge mineralisation. The latest drilling results from holes RC848 and RC857 extend the higher grade mineralisation by a further 100m at depth to more than 700m vertical. The result from RC857 is the deepest significant higher grade intercept at the project to date. All holes remain open at depth.

These results demonstrate further support of the upside range of the Exploration Target defined in the June 2022 Quarterly Exploration Report dated 21 July 2022. The Exploration Target potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource.

Drilling within the Exploration Target area also continues to define the continuity of the higher grade mineralisation in hole RC843, located 100m west of RC808 (previously reported) and 700m below surface, making it one of the shallowest significant higher grade intercepts at East Ridge.

The East Ridge mineralised corridor contains higher grade (>0.8g/t Au and >0.8% Cu) in several smaller pods over an area 700m high, 400m long and 125m wide. Drilling to test the eastern extent of the mineralised corridor has returned some lower grades and intervals of unmineralised porphyry in several holes including RC851, RC854 and RC855 with follow up in progress.

Approximately 35,000m of growth-related drilling targeting mineralisation definition and continuity is planned for the second half of FY23 from four drill rigs.

Refer to Appendix 2 for additional information, and the drill hole data table for all results reported during the period.

Figure 4. Schematic plan view map of the Red Chris porphyry corridor spanning East Ridge, East Zone, Main Zone and Gully Zone showing significant Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report), 0.3g/t Au, 1g/t Au, 0.3% Cu and 1% Cu shell projections generated from a Leapfrog^TM model.

To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_006full.jpg

Figure 5. Long section view (looking North West) of the Red Chris porphyry corridor showing drill hole locations, gold distribution and Exploration Target (previously released).

To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_007full.jpg

Havieron Project, Western Australia, Australia⁽³⁾

The Havieron Project is operated by Newcrest under a Joint Venture Agreement (JVA) with Greatland Gold Plc (Greatland). Newcrest is the manager and holds a 70% interest in the Havieron Project (Greatland holds a 30% interest). The JVA includes tolling principles reflecting the intention of the parties that, subject to a successful exploration program, Feasibility Study and a positive decision to mine, the resulting joint venture mineralised material will be processed at Telfer.

The Havieron Project is centred on a deep magnetic anomaly located 45km east of Telfer in the Paterson Province. The deposit is overlain by more than 420m of post mineral Permian cover. The Joint Venture commenced drilling during the June 2019 quarter and has completed 288,664m of drilling from 327 drill holes to date (excluding holes in progress, abandoned holes, or drill holes which have not been sampled).

Drilling activities in the quarter have produced a further 19,079m of drilling from 22 holes with up to 6 drill rigs operating during the quarter. This includes 4 infill drillholes within the current Eastern Breccia Inferred Resource which are not included in this report and 6 abandoned holes which failed to reach target depth. New assay results are reported from 12 drill holes (8 were assays pending from the previous quarter). Of the reported holes, 7 holes returned significant assay intercepts in excess of 50 gram metres gold (Au ppm x length m). Further infill drilling has commenced to support ongoing resource assessment of the lower South East Crescent zone.

Growth drilling targeting mineralisation definition and continuity continues to show potential for resource additions outside of the existing Indicated and Inferred Mineral Resource limits, including:

• Extensions of the Eastern Breccia incorporating definition of identified internal higher grade zones - assay results reported for 7 drill holes, 2 holes awaiting assays.
• Extensions to the Northern Breccia at depth between the current Northern Breccia Resource and Eastern Breccia Resource - assay results reported for 2 drill holes, 4 holes awaiting assays.
• Drilling to assess geophysical targets outside of the main Havieron system - 3 drill hole results reported and 2 holes awaiting assays from step-out drilling to the northwest and southeast of the Havieron system.

The Eastern Breccia is developed below the 4,100RL with a footprint of over 500m in strike, up to 200m in width, and over 250m in vertical extent. Within this zone, multiple northwest trending internal higher-grade (>1 g/t Au) sulphide dominated domains are observed. The Eastern Breccia remains open at depth and to the northwest and southeast.

Results include:

• HAD134
  • 82m @ 2.1g/t Au & 0.25% Cu from 1,508m
  • including 30m @ 2.4g/t Au & 0.19% Cu from 1,540m
• HAD152W4
  • 86m @ 0.88g/t Au & 0.05% Cu from 2,056m
  • 10m @ 4.0g/t Au & 0.04% Cu from 2,120m
• HAD152W5
  • 62m @ 0.92g/t Au & 0.40% Cu from 1,607m
• HAD163
  • 86m @ 1.2g/t Au & 0.04% Cu from 1,415m
  • including 26m @ 1.9g/t Au & 0.09% Cu from 1,452m
• HAD163W1
  • 171.1m @ 0.68g/t Au & 0.04% Cu from 1,458m.
  • including 32m @ 1.5g/t Au & 0.09% Cu from 1,492m
• HAD167
  • 78m @ 1.9g/t Au & 0.19% Cu from 1,516m

At the Northern Breccia results include:

• HAD098W7
  • 84m @ 3.2g/t Au & 0.14% Cu from 1,008m

Drilling to test geophysical targets outside of the known Havieron mineralised system, including evaluating the Havieron dolerite at multiple intervals north and south of the Havieron mineralised envelope, revealed no significant intercepts from three drill holes (HAD165, MEC001 and NOR002). Two additional holes are awaiting assays.

The initial campaign of growth programs, in the March 2023 quarter, will progress assessment of growth targets, and ongoing resource infill of the lower South East Crescent zone, with drill programs reducing to three drill rigs over the Western Australian wet season.

Refer to Appendix 3 for additional information and drill hole data table for all results reported during the period.

Figure 6. 3D Plan view schematic showing the spatial association of the South East Crescent, Northern Breccia, North West Pod and Eastern Breccia in relation to the current exploration growth target areas and the Mineral Resource extents. Also highlighted are selected previously reported^^ and new (highlighted in yellow - refer to Figure 6) intercepts >100 gram metres (Au ppm x length) that have been intersected outside of the Inferred Mineral Resource. Intercepts are projected to the 4600RL.

To view an enhanced version of Figure 6, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_008full.jpg

Figure 7. 3D oblique view of the Havieron system viewed from the south-east, showing the position of high-grade intercepts (previously^^ reported and new (highlighted in yellow - refer to Figure 7)) and mineralised zones >100 gram metres (Au ppm x length) that have been intersected outside of the Mineral Resource extents. Further higher-grade mineralisation and assay results continue to support incremental expansion of the Northern Breccia and Southeast Crescent, as well as extensions to the Eastern Breccia (refer to Figure 5 for spatial relationship of drill holes and zones).

To view an enhanced version of Figure 7, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_009full.jpg

Figure 8. Plan view schematic of a horizontal slice at 3900mRL through the Crescent Sulphide Zone and Breccia-hosted Zones, showing the extents of the 0.5 and 1.0 g/t Au Leapfrog^TM grade shells with highlighted newly reported intercepts for this period. This diagram highlights >50 gram metres intersections drilled during the period, refer to inset diagram for relationship to all Havieron drilling.

To view an enhanced version of Figure 8, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_010full.jpg

Western USA

Spring Peak Project, Nevada

In August 2022, Newcrest entered into four separate definitive option and earn-in agreements with Headwater Gold Inc. (Headwater Gold) and purchased a 9.9% equity interest in the company (previously reported). Newcrest has the option to acquire up to a 75% interest individually in each of the Agate Point, Midas North and Spring Peak Projects in Nevada and the Mahogany Project in Oregon.

The Spring Peak project is located approximately 35km southwest of Hawthorn, Nevada in the Aurora mining district. During the quarter Headwater Gold completed an RC and diamond drilling program at Spring Peak designed to follow up results from their 2021 exploration program and continued target definition work including mapping on other targets. A total of 3,170m was drilled in 10 holes across the project area including both RC pre-collar with diamond tails and three RC only holes. All holes encountered epithermal veining and alteration with the thickest intercepts located in four drill holes completed on a single section at the Disco Zone offsetting the intersection previously reported by Headwater (on 22 November 2021) in RC drill hole SP21-03 which returned 38.1m @ 1g/t Au. One RC pre-collar was drilled off section but was not completed with a diamond tail due to the arrival of winter weather conditions.

Assay results have been returned for the diamond tail for SP22-13 with all other assay results from the project pending.

Results include:

• SP22-013
  • 34.72m @ 2.7g/t Au from 256.12m
  • including 2.01m @ 10g/t Au from 262.46m
  • including 2.38m @ 16g/t Au from 275.26m
  • and including 0.34m @ 70g/t Au from 275.96m

SP22-13 is the deepest and highest grade intercept reported to date at Spring Peak. The mineralised structure is drill constrained to this section only and remains open at depth and along strike. A follow up drill program is being planned for the upcoming field season.

Figure 9. Plan view of the Spring Peak project illustrating the location of drill hole SP22-13, previous drilling, and the drill constrained cross section. Coordinates are NAD83 UTM Zone 11 north.

To view an enhanced version of Figure 9, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_011full.jpg

Figure 10. Geological and geophysical cross section of the Disco Zone with drill results from SP22-13 and SP21-07, the structure is open both down dip and along strike. A drill program to further test the zone is currently being planned. Section view is to the southwest.

To view an enhanced version of Figure 10, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_012full.jpg

Appaloosa Project, Nevada

In September 2022, Newcrest entered into an option and earn-in agreement (previously reported) with Gunpoint Exploration Ltd. (Gunpoint) to acquire up to 75% of the Appaloosa property located in Nevada, USA (with an option to acquire the remaining 25% of Appaloosa post the earn-in period). Appaloosa is an underexplored mineralised structural zone situated within Gunpoint's Talapoosa gold-silver project. Newcrest is currently performing target definition work including mapping, geophysics and rock chip and channel sampling with assay results pending. In January 2023, Newcrest provided notice to Gunpoint to enter into the Option Phase of the option and earn-in agreement at Appaloosa.

Australia

Wilki Project, Western Australia

The Wilki Project is an exploration farm-in and joint venture with Antipa Minerals Limited (Antipa). The project area covers a strategic landholding of ~2,200km² surrounding the Telfer operation and is adjacent to the Havieron Project. Newcrest entered into this exploration farm-in and joint venture agreement with Antipa in March 2020. Newcrest currently also has a 9.9% shareholding in Antipa.

As previously highlighted, Newcrest has elected to proceed to the next stage (Stage 1) of the farm-in agreement following completion of the initial exploration expenditure commitment (A$6 million). Newcrest has the potential to earn a 51% joint venture interest in the Wilki Project through expenditure of a further A$10 million by March 2025 during Stage 1. As of 1 July 2022, Newcrest is the manager and operator of the Wilki Project.

Field activities were suspended for the summer period and will resume in the first half of calendar year 2023, with planned soil sampling and follow up drilling to be completed, subject to successful attainment of heritage clearances.

Juri Joint Venture, Western Australia

The Juri Joint Venture is a farm-in and joint venture agreement with Greatland with respect to the Black Hills and Paterson Range East projects, located within the Paterson Province approximately 50km from the Telfer operation and in proximity to the Havieron Project. The joint venture covers an area of approximately 248km². Newcrest currently has a 51% interest in the Juri Joint Venture, and the Joint Venture is currently managed by Greatland. Under the terms of the agreement, Newcrest has the potential to earn an additional 24% joint venture interest through expenditure of a further A$17 million by October 2024.

Drill programs completed at A9 and Tama in the September 2022 quarter returned no significant new results. Target generation and project review activities are underway during seasonal suspension of field programs.

Mount Coolon Project, Queensland

In October 2022, Newcrest entered into a farm-in agreement with GBM Resources Ltd (GBM) in relation to the Mount Coolon Project to advance gold exploration in the Drummond Basin in Queensland. The agreement provides the potential for Newcrest to acquire up to a 75% interest in the Mount Coolon Project tenements by spending A$25M and completing a series of exploration milestones in a 3 stage farm-in over six years.

Newcrest considers the Drummond Basin to be highly prospective for discovery of new higher grade gold resources related to known epithermal gold deposits within the Mount Coolon Project area. The project is undergoing establishment activities and initial targeting has identified a number of high priority targets below and along strike to previously identified gold-bearing low-sulphidation epithermal veining. On ground activities are expected to commence in the first half of calendar year 2023.

Northern Andes

Gamora Project, Ecuador

Planning is in progress for the second phase of scout drilling at the Gamora Project, located in southeast Ecuador. This work is being conducted by Newcrest as the operator under an earn-in agreement with Lundin Gold Inc. (Lundin Gold) pursuant to which Newcrest can earn up to a 50% interest in eight exploration concessions. The concession area covers strategic landholdings to the north and south of Lundin Gold's Fruta del Norte mining operation. The next phase of drilling at Gamora will focus on testing priority copper-gold porphyry targets starting in the March 2023 quarter.

Appendix 1

Brucejack (100% Newcrest): JORC Table 1
Section 1: Sampling Techniques and Data

Section 2: Reporting of Exploration Results

Drillhole data⁽¹⁾

Brucejack, British Columbia, Canada
Reporting Criteria: Intervals are reported as length-weighted averages using a cut-off of 1.0 g/t Au and a minimum length of 7.5m, with less than 7.5m of consecutive internal dilution. Also reported are intervals greater than 100g/t Au. Intervals below a cutoff of 1.0gt Au were not reported as significant results. Gold grades are reported to two significant figures. Samples are from core drilling which is HQ in diameter. Core is photographed and logged by the geology team before being whole core sampled and sent for assay. Each assay batch is submitted with duplicates and standards to monitor laboratory quality.

# drilling in progress, **partial intercept, assays pending. ^updated intercept ^^previously reported intercept

Figure 11. Cross section for drill fan 1080_37_ELAT17_41_L1 (location shown on Figure 3) showing all drill holes and significant intercepts. Due to window size (+/- 30m) and section orientation (270˚) holes may appear on multiple sections.

To view an enhanced version of Figure 11, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_013full.jpg

Figure 12. Cross section for drill fan 1080_37_ELAT17_41_L2 (location shown on Figure 3) showing all drill holes and significant intercepts. Due to window size (+/- 30m) and section orientation (270˚) holes may appear on multiple sections.

To view an enhanced version of Figure 12, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_014full.jpg

Figure 13. Cross section for drill fan 1080_37_WLAT18_34 (as shown on Figure 3) showing all drill holes and significant intercepts. Due to window size (+/- 30m) and section orientation (270˚) holes may appear on multiple sections.

To view an enhanced version of Figure 13, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_015full.jpg

Figure 14. Schematic plan view map of the Golden Marmot drilling showing the location of the drill fans and previous drilling.

To view an enhanced version of Figure 14, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_016full.jpg

Figure 15. Cross section for drill holes SU-902, SU-903, SU-914, SU-915, SU-916, SU-917 (as shown on Figure 14) showing all significant intercepts. Due to window size (+/- 30m) and section orientation (060˚) holes may appear on multiple sections.

To view an enhanced version of Figure 15, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_017full.jpg

Figure 16. Cross section for drill holes SU-893, SU-894, SU-898, SU-899, SU-900 (as shown on Figure 14) showing all significant intercepts. Due to window size (+/- 30m) and section orientation (060˚) holes may appear on multiple sections.

To view an enhanced version of Figure 16, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_018full.jpg

Figure 17. Cross section for drill holes SU-892, SU-897, SU-907, SU-908 (as shown on Figure 14) showing all significant intercepts. Due to window size (+/- 30m) and section orientation (060˚) holes may appear on multiple sections.

To view an enhanced version of Figure 17, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_019full.jpg

Figure 18. Cross section for drill holes SU-885, SU-895, SU-896, SU-904 (as shown on Figure 14) showing all significant intercepts. Due to window size (+/-20m) and section orientation (060˚) holes may appear on multiple sections.

To view an enhanced version of Figure 18, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_020full.jpg

Appendix 2

Red Chris (70% Newcrest): JORC Table 1
Section 1: Sampling Techniques and Data

Section 2: Reporting of Exploration Results

Drillhole data⁽¹⁾

Red Chris Project, British Columbia, Canada
Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.1ppm (0.1g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Also highlighted are high grade intervals of Au >0.5ppm (0.5g/t Au), Au >1ppm (1g/t Au), Au > 5ppm (5g/t Au), Au >10ppm (10g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 10m. Gold and copper grades are reported to two significant figures. Samples are from core drilling which is HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes.

# drilling in progress, **partial intercept, assays pending. ^updated intercept ^^previously reported intercept

Figure 19. Schematic plan view map of East Ridge showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases). 0.3 g/t Au, 1 g/t Au, 0.3% Cu and 1% Cu shell projections generated from a Leapfrog^TM model.

To view an enhanced version of Figure 19, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_021full.jpg

Figure 20. Schematic plan view map of Main Zone showing drill hole locations (Newcrest & Imperial) and significant Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases). 0.3 g/t Au, 1 g/t Au, 0.3% Cu and 1% Cu shell projections generated from a Leapfrog^TM model.

To view an enhanced version of Figure 20, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_022full.jpg

Figure 21. Schematic cross section of RC858 (Section Line 11N - as shown on Figure 20) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 21, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_023full.jpg

Figure 22. Schematic cross section of RC856 (Section Line 12N - as shown on Figure 20) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 22, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_024full.jpg

Figure 23. Schematic cross section of RC837 & RC838 (Section Line 15N - as shown on Figure 20) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 23, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_025full.jpg

Figure 24. Schematic cross section of RC833 (Section Line 17N - as shown on Figure 20) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 24, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_026full.jpg

Figure 25. Schematic cross section of RC853 (Section Line 32N - as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 25, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_027full.jpg

Figure 26. Schematic cross section of RC836 (Section Line 33N - as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 26, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_028full.jpg

Figure 27. Schematic cross section of RC862 & RC857 (Section Line 36N - as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 27, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_029full.jpg

Figure 28. Schematic cross section of RC843 & RC845 (Section Line 37N - as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 28, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_030full.jpg

Figure 29. Schematic cross section of RC848 (Section Line 38N - as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1 g/t Au, 0.5 g/t Au and 1 g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 29, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_031full.jpg

Figure 30. Schematic cross section of RC840 (Section Line 39N - as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 30, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_032full.jpg

Figure 31. Schematic cross section of RC842 (Section Line 40N - as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 31, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_033full.jpg

Figure 32. Schematic cross section of RC846 (Section Line 41N - as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 32, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_034full.jpg

Figure 33. Schematic cross section of RC841 & RC854 (Section Line 42N - as shown on Figure 19) showing Newcrest and Imperial drill holes and Newcrest intercepts (drill intercepts have been reported in Appendix 2 of this report, and in prior Newcrest exploration releases) 0.1g/t, 0.5g/t Au and 1g/t Au shell projections generated from Leapfrog^TM model. Due to window size (+/- 50m) and section orientation (150˚) hole may appear on multiple sections.

To view an enhanced version of Figure 33, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_035full.jpg

Appendix 3

Havieron Project (Greatland Gold Plc - Joint Venture Agreement): JORC Table 1
Section 1: Sampling Techniques and Data

Section 2: Reporting of Exploration Results

Drillhole data⁽¹⁾

Havieron Project, Paterson Province, Western Australia
Reporting Criteria: Intercepts reported are downhole drill width (not true width) Au >0.20ppm (0.2g/t Au) and minimum 20m downhole width with maximum consecutive internal dilution of 10m. Average grades are based on length-weighting of samples grades. Also highlighted are high grade intervals of Au >1.0ppm (1g/t Au) and minimum 10m downhole width with maximum consecutive internal dilution of 5m, and intervals of >30g/t which are greater or equal to 30 gram metres (Au_ppm x length) are tabled. Gold and copper grades are reported to two significant figures, the downhole lengths are rounded to 0.1m which may cause some apparent discrepancies in interval widths. Samples are from core drilling which is PQ, HQ or NQ in diameter. Core is photographed and logged by the geology team before being cut. Half core PQ, HQ and NQ samples are prepared for assay and the remaining material is retained in the core farm for future reference. Each assay batch is submitted with duplicates and standards to monitor laboratory quality. Total depth (end of hole) is rounded to one decimal place for reporting purposes. Collars denoted with a * show partial results, with further significant assays to be reported in subsequent exploration updates.

# drilling in progress, **partial intercept, assays pending. ^updated intercept ^^previously reported intercept, ⁺intercept within published resource

Figure 34. Schematic plan view map showing drill hole locations and significant intercepts reported in this release superimposed on the interpreted geology. Previously reported holes are not shown for the sake of clarity. Note some holes and results appear on multiple sections due to the sections orientation and sections overlap.

To view an enhanced version of Figure 34, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_036full.jpg

Figure 35. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S1, +/-100m section width, as shown in Figure 34). Due to section window size and orientation holes may appear on multiple sections. This diagram highlights >50gram metres intersections drilled during the period. Reported drill holes are outside of the existing resource.

To view an enhanced version of Figure 35, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_037full.jpg

Figure 36. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S2, +/-50m section width, as shown in Figure 34). Due to section window size and orientation holes may appear on multiple sections. This diagram highlights >50gram metres intersections drilled during the period. Reported drill holes are outside of the existing resource.

To view an enhanced version of Figure 36, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_038full.jpg

Figure 37. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S3, +/-50m section width, as shown in Figure 34). The blue intercepts represent results wholly or partially within the Mineral Resource. Due to section window size and orientation holes may appear on multiple sections. This diagram highlights >50gram metres intersections drilled during the period which. Reported drill holes are outside of the existing resource.

To view an enhanced version of Figure 37, please visit:
https://images.newsfilecorp.com/files/7614/152402_b06dce7ac4bcaa13_039full.jpg

Appendix 4

Spring Peak (Headwater Gold Inc., Farm-In Agreement): JORC Table 1
Section 1: Sampling Techniques and Data

Section 2: Reporting of Exploration Results

Drillhole data⁽¹⁾

Spring Peak, Nevada USA
Reporting Criteria: Intervals are reported as length-weighted averages using a cut-off of 0.2 g/t Au and a minimum length of 0.3m, with less than 30% total internal dilution. Also reported are intervals greater than 2.0g/t Au. Intervals below a cutoff of 0.2g/t Au were not reported as significant results. Gold grades are reported to two significant figures. Samples are from RC drilling and core drilling which is HQ in diameter. Core is photographed and logged by the geology team before being whole core sampled and sent for assay. Each assay batch is submitted with duplicates and standards to monitor laboratory quality.

# drilling in progress, **partial intercept, assays pending. ^updated intercept ^^previously reported intercept

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", "target", "anticipate", "believe", "continue", "objectives", "outlook" and "guidance", or other similar words and may include, without limitation, statements regarding estimated reserves and resources, internal rates of return, expansion, exploration and development activities and the specifications, targets, results, analyses, interpretations, benefits, costs and timing of them; certain plans, strategies, aspirations and objectives of management, anticipated production, sustainability initiatives, climate scenarios, dates for projects, reports, studies or construction, expected costs, cash flow or production outputs and anticipated productive lives of projects and mines. The Company 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 the Company's actual results, performance, and achievements 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 resources or reserves, political and social risks, changes to the regulatory framework within which the Company 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 the Company's results and performance, please see the risk factors discussed in the Operating and Financial Review included in the Appendix 4E and Financial Report for the year ended 30 June 2022 and the Annual Information Form dated 14 December 2022 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 management's current expectations and reflect Newcrest's good faith assumptions, judgements, estimates and other information available as at the date of this report and/or the date of Newcrest's planning or scenario analysis processes 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 global events such as geopolitical tensions and the ongoing COVID19 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.

Ore Reserves and Mineral Resources Reporting Requirements

As an Australian Company with securities listed on the Australian Securities Exchange (ASX), Newcrest is subject to Australian disclosure requirements and standards, including the requirements of the Corporations Act 2001 and the ASX. Investors should note that it is a requirement of the ASX Listing Rules that the reporting of Ore Reserves and Mineral Resources in Australia is in accordance with the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and that Newcrest's Ore Reserve and Mineral Resource estimates and reporting comply with the JORC Code.

Newcrest is also subject to certain Canadian disclosure requirements and standards, as a result of its secondary listing on the Toronto Stock Exchange (TSX), including the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (NI 43-101). Investors should note that it is a requirement of Canadian securities law that the reporting of Mineral Reserves and Mineral Resources in Canada and the disclosure of scientific and technical information concerning a mineral project on a property material to Newcrest comply with NI 43-101.

Newcrest's material properties are currently Cadia, Lihir, Red Chris and Wafi-Golpu. Copies of the NI 43-101 Reports for Cadia, Lihir and Wafi-Golpu, which were released on 14 October 2020, and Red Chris, which was released on 30 November 2021, are available at www.newcrest.com and on Newcrest's SEDAR profile.

Competent Person's Statement

The information in this document that relates to Exploration Targets, Exploration Results, and related scientific and technical information, is based on and fairly represents information compiled by Mr F. MacCorquodale. Mr MacCorquodale is the General Manager - Greenfields Exploration and a full-time employee of Newcrest Mining Ltd.. He is a shareholder in Newcrest Mining Ltd. and is entitled to participate in Newcrest's executive equity long term incentive plan, details of which are included in Newcrest's 2022 Remuneration Report. He is a Member of the Australian Institute of Geoscientists. Mr MacCorquodale has sufficient experience which is relevant to the styles of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the JORC Code and as a Qualified Person under NI 43-101. Mr MacCorquodale approves the disclosure of scientific and technical information contained in this document and consents to the inclusion of material of the matters based on his information in the form and context in which it appears.

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.

^{1 #} drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
^{2 #} drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
^{3 #} drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152402