March 12 (Reuters) - Newcrest Mining Ltd (NCM) : NEWCREST...

March 12 (Reuters) - Newcrest Mining Ltd (NCM) :

• NEWCREST ENTERS FARM-IN AGREEMENT WITH GREATLAND GOLD
• NEWCREST WILL BE MANAGER OF EXPLORATION PROGRAM DURING FARM-IN PERIOD AND WHILE IT MAINTAINS A MAJORITY INTEREST
• ENTERED EXPLORATION FARM-IN AGREEMENT THAT ESTABLISHES A JOINT VENTURE WITH GREATLAND GOLD PLC ON THEIR HAVIERON TENEMENT
• THERE IS MINIMUM COMMITMENT OF US$5M OVER AN INITIAL 12 MONTH PERIOD
• THERE IS POTENTIAL FOR CO TO ALSO EARN UP TO A 70% JV INTEREST THROUGH TOTAL EXPENDITURE OF US$65M OVER A 6 YEAR PERIOD
• NEWCREST MAY ACQUIRE AN ADDITIONAL 5% INTEREST AT END OF FARM-IN PERIOD AT FAIR MARKET VALUE
• DURING FARM-IN PERIOD, NEWCREST WILL HAVE A FIRST RIGHT OF REFUSAL OVER REMAINDER OF GREATLAND GOLD'S PATERSON PROJECT