Newcrest has today acquired a further 10,977,502 common shares of Lundin Gold Inc. from Kinross Gold Corporation for C$7.25 per share, or C$79.6 million in the aggregate, at a 4.2% discount to last trade price.

These additional shares increase Newcrest's ownership interest in Lundin Gold to 32%.

Newcrest Managing Director and Chief Executive Officer said, 'This was a great opportunity to increase our exposure to Fruta del Norte, a Tier 1 asset, which is expected to commence commercial production in the June 2020 quarter.'

About Fruta del Norte

Lundin Gold Inc. owns the Fruta del Norte which is a high-grade, underground gold-silver mine located in southeastern Ecuador.

Lundin Gold Inc. has reported in its National Instrument 43-101 Technical Report the following information in relation to Fruta del Norte as at 30 April 2016; First quartile Life of Mine All-In Sustaining Cost of $623 per ounce

Expected average annual gold production of 315koz

Expected 14 year mine life

Probable mineral reserves of 4.82moz grading 9.67g/t Au

Sits within >70,000 ha of prospective granted tenure

Contact:

Chris Maitland

Tel: +61 3 9522 5717

Email: Chris.Maitland@newcrest.com.au

Forward Looking Statements

This presentation includes forward looking statements. Forward looking statements can generally be identified by the use of words such as 'may', 'will', 'expect', 'intend', 'plan', 'estimate', 'anticipate', 'continue', 'outlook' and 'guidance', or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. 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.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to differ materially from statements in this presentation. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which 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.

Forward looking statements are based on the Company's good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect the Company's business and operations in the future. The Company 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 the Company. Readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Except as required by applicable laws or regulations, the Company 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.

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