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Market Update

04 March 2011

Newcrest will be conducting investor briefings in the United Kingdom, North America and Asia during March utilising the accompanying presentation material. 

Included in this material is a new drilling result at the Wafi-Golpu project in Papua New Guinea. The drill hole details are provided below along with an update on the impact of the ongoing political situation in Cote d’Ivoire on the Bonikro mine.

Wafi-Golpu

Assay results have been received for recently completed drill hole WR377 at Wafi-Golpu. WR377 intersected 883 metres @ 2.15% Cu and 2.23g/t Au from 913 metres (0.3% Cu cut off and 10m internal waste) including 628 metres @ 2.82% Cu and 3.06g/t Au from 1,043 metres (1.0% Cu cut off and 10m internal waste).  This is the highest grade intersection at Golpu to date and extends the Golpu mineralisation a further 70 metres north. The Golpu mineralisation remains open to the north and at depth. WR377 intersected 558 metres of mineralised porphyry and was completed to a final depth of 1,907 metres.

Drill hole details are as a follows:

Bonikro mine operation

The return to full production at the Bonikro mine continues to be affected by the unresolved political situation in Côte d’Ivoire which is impacting banking services and the supply of equipment and consumables. The mine is currently operating but at a reduced capacity.  Newcrest continues to monitor the political situation to ensure the safety and security of all employees.  No threats have been made to the mine or its employees.

The information in this release that relates to Exploration Results is based on information compiled by C. Moorhead, EGM Minerals for Newcrest Mining Limited who is a Member of The Australasian Institute of Mining and Metallurgy, and a full-time employee of Newcrest Mining Limited. Mr Moorhead 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 2004 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the “JORC Code”). Mr Moorhead consents to the inclusion in this release of the matters based on this information in the form and context in which it appears.  For details of Exploration Results, Mineral Resources and Ore Reserves refer to the Newcrest website.


For further information, please contact:

Investor Enquiries – North America/Europe

Steve Warner
T: +1 212 351 5064
E: steve.warner@newcrest.com.au

Media Enquiries

Kerrina Watson
T: +61 3 9522 5593
E: kerrina.watson@newcrest.com.au

This information is available on our website at www.newcrest.com.au.