Ann: Newmont Farm-in at Bauloora Project, page-2

Newmont and Legacy Minerals enter Farm-in and Joint Venture
Agreement at the Bauloora Epithermal Gold Project
Legacy Minerals Holdings Limited (ASX: LGM, “the Company” or “Legacy Minerals”) is pleased to
announce it has entered a A$15 million farm-in and joint venture agreement (Joint Venture or JV)
with Newmont Exploration, a subsidiary of Newmont Corporation (“Newmont”, NYSE: NEM, TSX:
NGT) at its Bauloora Project located in New South Wales, Australia.
The Bauloora Project
• Bauloora is a large low sulphidation epithermal project (“Project”) in the Lachlan Fold Belt, NSW.
• Across Bauloora, Legacy Minerals has undertaken a systematic exploration program focused on
mapping, regional targeting, and soil sampling across an 27km2 epithermal vein field.
• Legacy Minerals recently completed a maiden diamond drilling program targeting the Mee Mar
low-sulphidation epithermal veins with final assays pendingi
.
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Newmont Corporation
• Newmont is the world’s leading gold company with a market cap of approximately US$36.37
billion which operates a portfolio of world-class mining assets with a combined Mineral Reserve
of 96.1Mozii
.
• Newmont has extensive experience in the discovery and development of epithermal systems
including at its formerly owned Pajingo mine (4.5Moz Au)iii and Cerro Negro, Argentina (7.1Moz)
iv.
Farm-In and Joint Venture Summary we
Minimum Commitment
• Drill testing at the Breccia Sinter Prospect by end of 2023.
• Undertake a regional aerial magnetic survey of the tenements by end of 2023.
• A$2 million spend within 24 months.
Phase 1 - $5M earn-in for 51%
• Subject to satisfying the minimum commitments, Newmont may acquire a 51% farm-in interest in
the Bauloora tenements by spending a total of A$5 million within 48 months.
• Undertaking 4,000m of drilling within 48 months.
• Legacy Minerals will act as operator during the initial earn in period.
Phase 2 - $10M earn-in for 75%
• Subject to completion of Phase 1, Newmont may earn a further 24% farm-in interest in the
tenements by spending an additional A$10 million.
• Undertaking a further 8,000m of drilling within 48 months.
Newmont financing facility and Mining Joint Venture
• A Mining Joint Venture may be formed between the companies upon the decision to mine.
• At the discretion of Legacy Minerals, LGM may enter an agreement to a loan carried through to
production through a Newmont financing facility, allowing Newmont to earn-in up to 80%.
• The loan would be re-paid from Legacy Minerals’ share of any future mining proceeds.