Veris Gold Corp. announced that it has entered into a toll milling agreement with Newmont USA Limited to process ore at Veris' Jerritt Canyon Mill Complex located in Elko County, Nevada. Under the terms of the toll milling agreement, which ends December 31, 2014, Newmont will deliver up to 45,000 short tons of ore per month produced from Newmont Mines in Nevada to the Jerritt Canyon Mill for processing.

The ore will be batch processed and provide Veris with additional flexibility in processing ores from its three Jerritt Canyon underground gold mines. Newmont will pay a toll milling fee to Veris that will be adjusted on a quarterly basis to reflect any changes to input costs associated with processing the ore, while lowering overall cash costs. The toll milling agreement is structured so that all doré produced from the ore will remain the property of Newmont throughout the process and the associated toll milling fee charged to each ton will be treated as a separate revenue stream, offsetting the processing costs.

Further terms of the toll milling agreement are confidential to both parties.