Newcrest Mining Limited - Quarterly Exploration Report - 30 June 2023

Drilling results demonstrate further upside at Red Chris and Brucejack

Melbourne, July 24, 2023 - At Red Chris, drilling has intersected a new higher-grade zone of mineralisation east of the East Ridge Exploration Target (Far East Ridge) which has the potential to become the fifth porphyry centre along the Red Chris porphyry corridor.

• At Far East Ridge (outside of the previously released East Ridge Exploration Target) drilling of hole RC876 returned 274m @ 0.67g/t Au & 0.45% Cu from 998m including 42m @ 1.5g/t Au & 1.1% Cu from 1,080m, 14m @ 1.7g/t Au & 0.63% Cu from 1,144m and 26m @ 1.1g/t Au & 0.5% Cu from 1,170m. Mineralisation remains open to the east and at depth.

• Drilling within the East Ridge Exploration Target has also successfully confirmed continuity of the higher-grade mineralisation across the vertical extent of the deposit with a partial intercept in RC875^# returning 406m @ 1.1g/t Au & 1.0% Cu from 486m**, including 248m @ 1.6g/t Au & 1.4% Cu from 644m**.

At Brucejack, growth drilling continues to intersect significant mineralisation outside of the Valley of the Kings (VOK) current Mineral Resource.

• Drilling during the quarter has extended the HBX domain by approximately 200m to the east. The HBX domain now has dimensions of 350m x 300m x 250m and remains open to the west and at depth, outside of the current Pretium published Mineral Resource estimate. Results from the quarter include VU-5145 returning 38.5m @ 49g/t Au from 48m, including 1m @ 1,735g/t Au from 63.75m.

• The surface exploration program commenced during the quarter to test the potential of the VOK deposit beyond the limits of current underground development, with three drill rigs targeting opportunities around the VOK. Drilling is currently in progress at Flow Dome Zone and Bridge Zone.

At Havieron, all growth related drilling activities were completed in May 2023.

In the Western USA Newcrest (ASX: NCM) (TSX: NCM) (PNGX: NCM) has entered into an additional option and earn-in agreement with Headwater Gold Inc (Headwater Gold) to acquire up to a 75% interest in the Lodestar project located in Nevada, USA, north of the Spring Peak project. This has significantly expanded Newcrest's high grade epithermal search space in the highly prospective Aurora district. In addition, as part of Newcrest's strategy of gaining exposure to quality copper assets within Tier 1 jurisdictions, Newcrest also acquired a 9.5% strategic equity interest in Metallic Minerals Corp. which owns the La Plata Copper exploration project located in Colorado, USA.

Newcrest Interim Chief Executive Officer, Sherry Duhe, said, "The June quarter delivered another set of excellent exploration results across our global exploration portfolio.

"At Red Chris, we are exploring potential extensions to the Red Chris porphyry corridor and it was pleasing to deliver some impressive drilling results beyond the East Ridge Exploration Target, highlighting the potential for a fifth porphyry centre. Growth drilling at Brucejack also delivered some exciting results, with the potential for further brownfields growth in several targets outside the Valley of the Kings current resource.

"We also continued to expand our global exploration footprint with another emerging project in the Western USA added to our portfolio during the quarter.

"We have demonstrated considerable exploration success across our portfolio in FY23 and remain well positioned to leverage our exploration capabilities and high-quality exploration pipeline into the future," said Ms Duhe.

# drilling in progress, **partial intercept, assays pending

Red Chris, British Columbia, Canada⁽¹⁾

Red Chris is a joint venture between Newcrest (70%) and Imperial Metals Corporation (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 four diamond drill rigs in operation. A further 6,947m of drilling has been completed during the quarter from 11 drill holes, with all drill holes intersecting mineralisation. This contributed to a total of 317,632m of drilling from 312 drill holes since Newcrest acquired its interest in the joint venture in August 2019.

At East Ridge, located adjacent to the East Zone, 85 holes have now been completed. Assay results were received for 8 holes during the quarter, with assay results from 1 hole pending. The drilling was undertaken on a nominal 100m x 100m grid to determine the footprint, understand the mineralisation, geotechnical and geometallurgical characteristics and to determine the extent of continuity of the higher-grade mineralisation. Drilling to date has tested a corridor 1,000m long, 450m wide and to a vertical extent of 1,000m where zones of higher-grade mineralisation have been identified. Mineralisation remains open at depth and to the east.

An updated Exploration Target has been estimated for East Ridge (previously reported²), with ranges from a lower case of approximately 400Mt @ 0.42g/t Au & 0.49% Cu for 5.4Moz Au & 1.9Mt Cu to an upper case of approximately 500Mt @ 0.39g/t Au & 0.47% Cu for 6.1Moz Au & 2.3Mt Cu. The updated Exploration Target is exclusive of the current published Mineral Resource and relates to the portion of the deposit that has not yet been adequately drill tested. The potential quantity and grade of the Exploration Target 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.

The grades and tonnages are estimates based on continuity of mineralisation defined by exploration diamond drilling results (previously reported including relevant sections and plans) within the Redstock Intrusive with the lower range estimate in the area with a nominal drill hole spacing of 100m x 100m and the upper range estimate extended into the area with a nominal drill hole spacing of 100m x 200m.

East Ridge is outside of Newcrest's published Red Chris Mineral Resource estimate. Geotechnical and metallurgical studies are currently in progress with the aim to deliver an updated Red Chris Mineral Resource estimate including East Ridge in calendar year 2023³.

A series of three diamond holes drilling from south to north, the opposite direction to most of the drilling to date has commenced. The aim of the drilling is to confirm the continuity of the mineralisation and test for any bias from the original drill orientation. The results from the first hole RC875^# returned a partial intercept 406m** @ 1.1g/t Au & 1.0% Cu from 486m, including 248m** @ 1.6g/t Au & 1.4% Cu from 644m. This result successfully confirms the continuity of the higher-grade mineralisation across the vertical extent of the deposit. The program will recommence in the upcoming winter, when access conditions improve, subject to no further unforeseen delays.

Ongoing drilling east of the East Ridge Exploration Target has returned another significant higher-grade intercept, 100m east of RC860 (reported last quarter) with RC876 returning 274m @ 0.67g/t Au & 0.45 % Cu from 998m including 42m @ 1.5g/t Au & 1.1% Cu from 1,080m, 14m @ 1.7g/t Au & 0.63% Cu from 1,144m and 26m @ 1.1g/t Au & 0.5% Cu 1,170m. This intersection located approximately 200m east of the Exploration Target, demonstrates the prospectivity of this area for further discoveries. This new discovery, at Far East Ridge, has the potential to become the fifth porphyry centre along the Red Chris porphyry corridor. Follow up drilling is planned for calendar year 2024³.

A regional exploration program commenced during the quarter, with a program of geological mapping, geochemical sampling and drilling, testing targets generated from the application of the knowledge gained from the Red Chris discoveries. Several high priority porphyry copper-gold targets across the 750km² of claims (previously reported) demonstrate the prospectivity of this region. Approximately 4,000m of growth-related drilling targeting higher-grade mineralisation within the Red Chris porphyry corridor at Far West and Gully Zone is planned for the September 2023 quarter utilising one drill rig³.

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

Figure 1. Schematic plan view map of the Red Chris porphyry corridor spanning Far East Ridge, East Ridge, East Zone and Main 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.

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Figure 2. Long section view (looking North West) of the Red Chris porphyry corridor showing drill hole locations, gold distribution and Exploration Target (previously released).

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Brucejack, British Columbia, Canada⁽⁴⁾

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. Underground resource expansion drilling during the quarter was focused on targets in the Bridge Zone and Deep VOK. A total of 17,595m was completed in 52 drill holes using two underground diamond drill rigs. Assay results were received for three drill fans completed in Eastern Promises during the March 2023 quarter. All other assays are pending.

Assays results have been received for 5 of the 6 drill fans testing the Eastern Promises target and HBX Domain. Results from the HBX Domain have extended this zone by an additional 210m to the east and confirm the continuity of the higher-grade mineralisation. Mineralisation within the HBX Domain encompassing both 1080 HBX (previously reported) and Eastern Promises now has a footprint of 350m x 300m x 250m. This represents a highly prospective area for potential resource growth at the VOK. Highlights from the drilling include:

• VU-5144
  • o 13.9m @ 36g/t Au from 61.5m
  • o Including 1m @ 434g/t Au from 74.4m
• VU-5145
  • o 38.5m @ 49g/t Au from 48m
  • o including 1m @ 1,735g/t Au from 63.75m

A surface exploration program at Brucejack commenced during the quarter, with approximately 23,500m of drilling planned to test the potential of the VOK deposit in multiple areas beyond the limits of current underground development, including:

• Flow Dome Zone, located 200m east of Eastern Promises, testing what is interpreted as the extension to the HBX Domain, east of the VOK;
• Bridge Zone, located approximately 400m south of the VOK;
• West VOK and Lookout Zone, both located west of the VOK on the west side of the Brucejack Fault; and
• Gossan Hill to Golden Marmot, multiple targets along the 4km epithermal corridor north of the VOK.

These areas are future targets of potential resource growth at the VOK. All assays are pending.

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

Figure 3. 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.

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Figure 4. Long section view (looking west) of the Brucejack Property. Refer to figure 3 for the location of the cross section. Viewing window is +/- 100 meters.

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Figure 5. Plan map of the 1080 Level showing the HBX Domain intersected in the Eastern Promises drilling. Viewing window is +/- 30 meters.

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Havieron Project, Western Australia, Australia⁽⁵⁾

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 303,200m of drilling from 341 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 4,772m of drilling from 6 holes with up to three drill rigs operating during the quarter. All drilling activities were completed in May 2023. This includes 5 infill drill holes within the current Crescent Inferred Resource which are not included in this report. New assay results are reported from 2 drill holes, (1 hole has assays pending from the previous quarter). Of the reported holes, HAD152W6 returned a broad low-grade intercept of 79m @ 0.60g/t Au and 0.05% Cu from 1,501m testing for extensions of the SE Crescent Zone ~100 northwest of the current Mineral Resource. Additionally, HAD173 a step out hole testing a geophysical target ~600m to the SE of the Havieron system returned no significant assays.

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

Figure 6. 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.

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Western USA

Within Western USA, the exploration strategy is focused on discovering high grade epithermal gold deposits and gaining exposure to high quality copper assets. As part of this strategy, during the quarter Newcrest entered into an additional option and earn-in agreement with Headwater Gold to acquire up to a 75% interest in the Lodestar project located in Nevada, USA, north of the Spring Peak project. This has significantly expanded Newcrest's high grade epithermal search space in the highly prospective Aurora district. In addition, Newcrest also acquired a 9.5% strategic equity interest in Metallic Minerals Corp. which owns the La Plata Copper exploration project located in Colorado, USA. The La Plata project is a district scale opportunity in a Tier 1 jurisdiction with an existing copper resource and open ended high grade intercepts. It is well aligned with Newcrest's strategy of increased copper exposure and plays to its strength in bulk underground mining.

Spring Peak Project, Nevada

Newcrest has an option to acquire up to a 75% interest (previously reported) in the Spring Peak project in Nevada, USA with Headwater Gold. The Spring Peak project is located approximately 35km southwest of Hawthorn, Nevada in the Aurora mining district. Exploration to date has defined a low sulfidation epithermal system over an interpreted area of 2.5km x 1.5km. Initial work focused on the Disco Zone where drilling has intersected high grade gold in multiple holes (previously reported) which has upgraded the project potential.

Drilling is scheduled to commence at Spring Peak in the September 2023 quarter⁶ and will focus on expanding the Disco Zone and to follow up drilling previously conducted at the Opal Ridge target. Target definition work will also be undertaken on the wider Spring Peak property.

Appaloosa Project, Nevada

Newcrest has 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. During 2022, Newcrest undertook target definition work including mapping, geophysics, rock chip and channel sampling that defined multiple drill targets on the property.

Drilling at Appaloosa began in April 2023 with an initial focus on surface geochemical and geological targets generated during the CY22 field program. To date six holes for 1,900m of diamond drilling has been completed with partial assays returned for all six holes. Drilling at the central target area has returned halo intercepts of gold, silver and pathfinder elements consistent with the peripheral and upper zones of a low sulfidation epithermal gold-silver system. Drilling to discover the more developed parts of the epithermal system is ongoing.

Refer to Appendix 4 for additional information, and the drill hole data table for all results reported during the period.

Australia

Wilki Project, Western Australia

The Wilki Project is an exploration farm-in with Antipa Minerals Limited (Antipa). The project area covers a strategic landholding of ~1,470km² 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 resumed in the quarter, with an airborne geophysical survey (Falcon Gravity) commenced to inform the next stages of target generation field programs, as well as further surface geochemical sampling and reconnaissance drilling programs.

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. 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.

Field activities during the quarter focused on rehabilitation of prior field programs, ongoing target generation and project review. Newcrest has elected to assume management of the Juri Joint Venture from 1 July 2023.

Mount Coolon Project, Queensland

Newcrest has 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$25 million and completing a series of exploration milestones in a 2-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.

During the quarter, field programs, including a ground geophysical (Induced Polarisation) survey, surface geochemical sampling, and review and processing of historic drill core and drill chip samples, were undertaken to inform target assessment and first pass drilling in subsequent periods. A total of over 30 line kilometres of new IP data acquisition, and 2,000 soil samples have been acquired to progress the project. An airborne geophysical survey is planned to commence early in the September 2023 quarter⁷.

Northern Andes

Gamora Project, Ecuador

In southeast Ecuador, 3,247m of diamond core drilling was completed during the June 2023 quarter at the Gamora Project. Newcrest is conducting this work as the operator under an earn-in agreement with Lundin Gold Inc. (Lundin Gold), under which Newcrest can earn up to a 50% interest in eight exploration concessions. The concession areas cover strategic landholdings north and south of Lundin Gold's Fruta del Norte mining operation.

Drilling at Gamora focused on testing priority copper-gold targets in the Mirador copper porphyry district. Results from the drilling are in the process of being received and interpreted.

Appendix 1

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 7. Schematic plan view map of East Ridge and Far 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.

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Figure 8. Schematic cross section of RC878 (Section Line 31N - as shown on Figure 7) 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.

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Figure 9. Schematic cross section of RC875 (Section Line 34N - as shown on Figure 7) 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.

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Figure 10. Schematic cross section of RC864W (Section Line 38N - as shown on Figure 7) 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.

Figure 11. Schematic cross section of RC867 & RC880 (Section Line 39N - as shown on Figure 7) 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.

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Figure 12. Schematic cross section of RC872 & RC876 (Section Line 44N - as shown on Figure 7) 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.

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Figure 13. Schematic cross section of RC874 (Section Line 46N - as shown on Figure 7) 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.

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Appendix 2

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 *Intercept is located inside the Pretium resource area

Figure 14. Cross section for drill fan 1080_43_2 (location shown on Figure 5) showing all drill holes and significant intercepts. Due to window size (+/- 15m) and section orientation (270˚) holes may appear on multiple sections. *Intercept is located inside the Pretium resource area.

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Figure 15. Cross section for drill fan 1080_45 (location shown on Figure 5) showing all drill holes and significant intercepts. Due to window size (+/- 15m) and section orientation (270˚) holes may appear on multiple sections. *Intercept is located inside the Pretium resource area.

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Figure 16. Cross section for drill fan 1080_46 (as shown on Figure 5) showing all drill holes and significant intercepts. Due to window size (+/- 15m) and section orientation (270˚) holes may appear on multiple sections. *Intercept is located inside the Pretium resource area.

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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 17. 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.

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Figure 18. Schematic cross section of geology and significant new drillhole intercepts (looking northwest, Section Line S1, +/-50m section width, as shown in Figure 17). 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.

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Appendix 4

Appaloosa (Gunpoint Exploration., Farm-In Agreement): JORC Table 1
Section 1: Sampling Techniques and Data

Section 2: Reporting of Exploration Results

Drillhole data⁽¹⁾

Appaloosa, Nevada USA

Reporting Criteria: Intervals are reported as length-weighted averages using a cut-off of 0.2g/t Au and a minimum length of 0.3m, with less than 3m of consecutive internal dilution. Also reported are intervals greater than 1.0g/t Au. Intervals below a cut-off of 0.2g/t Au were not reported as significant results. Gold & Silver 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 half-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 19. Plan view of the Appaloosa Project illustrating the location of drilling reported in this release along project location, general target areas and the location of Gunpoint's Talapoosa project.

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Figure 20. North-South cross section from the central target area at Appaloosa illustrating the halo intercepts from assays returned to date. Section slice is 250m wide, drillhole APP-0006 is 148m off section (west) from holes APP-0001 to APP-0005, view is to the east. Drillhole locations are provided in Appendix 4.

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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 Enquiries
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
+1 604 335 9202
+1 604 240 2998
Vlada.Cvijetinovic@newcrest.com.au

Media Enquiries
Celina Watt
+61 3 9522 4264
+61 436 677 220
Celina.Watt@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 The Exploration Target as at 6 March 2023 has been extracted from Newcrest's release titled "Red Chris exploration success expands East Ridge Exploration Target delivering additional mining potential" dated 14 March 2023 which is available at www.asx.com.au the code "NCM" and on Newcrest's SEDAR profile.
³ Subject to market and operating conditions and no unforeseen delays
^{4 #} drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
^{5 #} drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
⁶ Subject to market and operating conditions and no unforeseen delays.
⁷ Subject to market and operating conditions and no unforeseen delays.

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