DENVER - NEWMONT MINING CORP. reports that it has acquired 93% of the common shares of MIRAMAR MINING CORP. of Vancouver. Newmont subsidiary, NEWMONT MINING B.C. LTD., holds the 189.4 million shares for which the company paid $6.26 each in cash.
Miramar controls the Hope Bay gold project on Bathurst Inlet, Nunavut. There are three deposits (Madrid, Doris and Boston) that are believed to contain in excess of 5.2 million oz of gold.
Newmont has extended the period during which Miramar shareholders may accept its offer to Jan. 18, 2008. Please see www.Newmont.com for details.