Newcrest Mining : December 2021 Interim Exploration Report

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Exploration Update

9 December 2021

Red Chris and Havieron continue to deliver excellent drilling results

At Red Chris, drilling continues to expand the footprint and continuity of the higher grade mineralisation of East Ridge.

• RC745 returned 366m @ 0.45g/t Au & 0.57% Cu from 728m, including 36m @ 1.4g/t Au & 1.2% Cu from 960m. This hole is located 100m above RC735 and extended the higher grade mineralisation a further 100m to the east.
• RC739 returned 390m @ 0.63g/t Au & 0.48% Cu from 1,088m, including 44m @ 2.0g/t Au & 1.3% Cu from 1,402m. This hole is located 100m east of RC727 (previously reported).
• The mineralisation at East Ridge is open to the East and at depth with ongoing drilling to define the extents.

At Havieron, infill drilling within the South East Crescent Zone Inferred Mineral Resource extent was finalised during the period. Currently all drill rigs are focused on growth programs targeting the extensions of mineralisation outside of the initial Inferred Mineral Resource.

• At the South East Crescent Zone the infill drilling completed validates both geological and grade continuity.
• Growth drilling more than 250m below the Mineral Resource extents continue to return high grade results including HAD086W3^^** which returned 44.7m^^ @ 7.1g/t Au & 0.17% Cu from 1,412m including 20.2m^^ @ 15g/t Au & 0.29% Cu from 1,421m.
• Drill testing of new additional geophysical targets 2km outside of the Havieron system has commenced.

Newcrest Managing Director and Chief Executive Officer, Sandeep Biswas, said, "Our latest drilling results continue to demonstrate the quality of our Red Chris and Havieron assets. Drilling results at our East Ridge discovery were particularly encouraging with further expansion of the mineralisation footprint to the east. The high-grade mineralisation remains open to the east and at depth which provides exciting potential for the resource base at Red Chris to grow over time."

"At Havieron, our exploration is now totally focused on growth which has continued to demonstrate potential for resource additions outside of the existing Inferred Mineral Resource limits. We have eight operating rigs exploring the high-grade targets in and around the main Havieron deposit including the high grade depth extents of the South East Crescent." said Mr Biswas.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne -Exploration Update 9 December 2021

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Red Chris - Significant results since the September 2021 Quarterly Exploration Report(1):

• RC735

1. 240m @ 0.49g/t Au & 0.53% Cu from 888m

• 1. including 102m @ 0.82g/t Au & 0.59% Cu from 1,012m
  1. including 24m @ 1.4g/t Au & 0.68% Cu from 1,068m
• RC739
• 1. 390m @ 0.63g/t Au & 0.48% Cu from 1,088m

• 1. including 70m @ 0.68g/t Au & 0.49% Cu from 1,302m
  1. including 44m @ 2.0g/t Au & 1.3% Cu from 1,402m
• RC745
• 1. 366m @ 0.45g/t Au & 0.57% Cu from 728m

• 1. including 58m @ 1.1g/t Au & 1.0% Cu from 958m
  1. including 36m @ 1.4g/t Au & 1.2% Cu from 960m
• RC747
• 1. 306m @ 0.28g/t Au & 0.39% Cu from 706m

1. including 46m @ 0.77g/t Au & 0.86% Cu from 880m o including 20m @ 1.1g/t Au & 1.2% Cu from 896m

Havieron - Significant results since the September 2021 Quarterly Exploration Report(1):

• HAD053W5

• 1. 119.7m @ 1.2g/t Au & 0.49% Cu from 1,041.4m
• HAD053W6
• 1. 164.3m @ 1.8g/t Au & 0.53% Cu from 1,065m

• 1. including 14.3m @ 9.7g/t Au & 0.78% Cu from 1,065.7m
• HAD061W1
• 1. 144.7m @ 1.6g/t Au & 0.14% Cu from 856.3m
• HAD086W3^^**
• 1. 44.7m @ 7.1g/t Au & 0.17% Cu from 1,412m

• 1. including 20.2m @ 15g/t Au & 0.29% Cu from 1,421m
• HAD086W4
• 1. 102.3m @ 1.5g/t Au & 0.17% Cu from 1,404.3m
• HAD133W4
• 1. 69.8m @ 2.0g/t Au & 0.32% Cu from 1,329.2m
• HAD133W5
• 1. 110.4m @ 2.2g/t Au & 0.21% Cu from 1,418.6m

• 1. including 62.8m @ 3.0g/t Au & 0.16% Cu from 1,460.5m
• HAD148W1
• 1. 89.3m @ 1.3g/t Au & 0.05% Cu from 807.8m
• HAD148W2
• 1. 35.4m @ 4.4g/t Au & 0.25% Cu from 938.1m
• HAD149W2
• 1. 45.1m @ 6.7g/t Au & 0.06% Cu from 919.5m
• HAD150W1
• 1. 140m @ 2.9g/t Au & 0.07% Cu from 909m
• HAD150W2
• 1. 113.8m @ 3.4g/t Au & 0.10% Cu from 996.2m

1. including 14.2m @ 20g/t Au & 0.14% Cu from 1,035.8m

1 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne -Exploration Update 9 December 2021	2

Red Chris, British Columbia, Canada(2)

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

The Brownfields 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 initial Mineral Resource estimate. During the period, there were up to eight diamond drill rigs in operation. A further 14,832m of drilling has been completed from 15 drill holes, with all drill holes intersecting mineralisation (except seven drill holes which were dedicated geotechnical holes). This contributed to a total of 210,906m of drilling from 176 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 18 holes completed and 4 in progress. The follow up drilling is being completed on a nominal 100m x 100m grid to determine the footprint of the mineralisation and demonstrate the continuity of the higher grade mineralisation.

Results for the reporting period include:

• RC735

1. 240m @ 0.49g/t Au & 0.53% Cu from 888m

• 1. including 102m @ 0.82g/t Au & 0.59% Cu from 1,012m
  1. including 24m @ 1.4g/t Au & 0.68% Cu from 1,068m
• RC739
• 1. 390m @ 0.63g/t Au & 0.48% Cu from 1,088m

• 1. including 38m @ 1.8g/t Au & 0.71% Cu from 1,244m
  1. including 22m @ 2.6g/t Au & 1.0% Cu from 1,246m
  1. including 70m @ 0.68g/t Au & 0.49% Cu from 1,302m
  1. including 44m @ 2.0g/t Au & 1.3% Cu from 1,402m
• RC745
• 1. 366m @ 0.45g/t Au & 0.57% Cu from 728m

• 1. including 58m @ 1.1g/t Au & 1.0% Cu from 958m
  1. including 36m @ 1.4g/t Au & 1.2% Cu from 960m
• RC747
• 1. 306m @ 0.28g/t Au & 0.39% Cu from 706m

1. including 46m @ 0.77g/t Au & 0.86% Cu from 880m o including 20m @ 1.1g/t Au & 1.2% Cu from 896m

Drilling continues to expand the footprint and continuity of the higher grade mineralisation and has demonstrated continuity of the East Ridge zone (>0.4g/t Au and >0.4% Cu) over dimensions of 600m high, 500m long and 125m wide, with the higher grade (>0.8g/t Au and >0.8% Cu) over 500m high, 300m long and 100m wide. The mineralisation remains open to the East and at depth.

East Ridge is located 300m east of East Zone and is outside of Newcrest's initial Mineral Resource estimate, supporting the potential for resource growth over time. Follow-up drilling is in progress to further define the extent and continuity of this high grade mineralisation.

Approximately 50,000m of growth-related drilling is planned this calendar year 2021 from eight drill rigs.

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

2 # drilling in progress ** partial intercept, assays pending ^ updated intercept or ^^ previously reported.
Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne -Exploration Update 9 December 2021	3

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

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne -Exploration Update 9 December 2021

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

Figure 3. Oblique schematic section view of the Red Chris porphyry corridor showing gold distribution. 0.3 g/t Au,1 g/t Au, 0.3% Cu and 1% Cu shell projections generated from the LeapfrogTM model.

Newcrest Mining Limited - Level 8, 600 St Kilda Road, Melbourne -Exploration Update 9 December 2021

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