TMAC Resources Signs Letter of Intent with Newmont for

TMAC Resources Signs Letter of Intent with Newmont for Proposed
Acquisition of Hope Bay Project in Nunavut 
Proposed transaction subject to completion of acquisition agreement
and other terms 
TORONTO, ONTARIO -- (Marketwire) -- 12/17/12 -- TMAC Resources Inc.
("TMAC") and Newmont Mining Corporation of Canada Limited (NMCCL)
("Newmont") today announced the signing of a binding Letter of Intent
("LOI") to acquire Newmont's Hope Bay Project in Nunavut, Canada.
TMAC is a privately held mining exploration and development focused
company comprised of several of the former senior executives of FNX
Mining Company Inc. and headed by Terry MacGibbon, founder of FNX
Mining Company Inc. and Chairman and co-founder of Torex Gold
Resources Inc. TMAC management has an exceptional track record for
developing high grade, profitable underground mines. The proposed
transaction is subject to a number of conditions, including execution
and delivery of an acquisition agreement, completion of an initial
equity financing, execution of an investor rights agreement, and
receipt of all required regulatory and third party approvals.  
"We are pleased to reach this milestone and believe that TMAC is the
right partner to improve prospects for near-term development of the
Hope Bay Project," said Randy Engel, Executive Vice President,
Strategic Development of Newmont. "TMAC's management team has a
proven track record of developing projects with similar
characteristics, both profitably and responsibly, while maximizing
value for shareholders and other stakeholders. We look forward to
developing a strong, long-term partnership as a significant
shareholder of TMAC."  
Mr. Terry MacGibbon, Executive Chairman of TMAC, stated, "I am very
excited to be working with Newmont and our Inuit partners to develop
the full potential of the highly prospective Hope Bay Project. I am
also very excited about putting back together and working with many
of the former FNX executive team who helped make that venture such a
success; particularly, Dr. Catharine Farrow, who will be TMAC's CEO.
Catharine made a tremendous contribution to FNX, QuadraFNX and most
recently at KGHM International as the Chief Operating Officer. With
her exploration and operating expertise and experience, she is the
ideal person to lead the future exploration and development of what
we expect will be Canada's next gold mining camp. By applying
best-in-class industry standards and processes and leveraging the
TMAC team's proven entrepreneurial approach to profitable, low cost,
staged mine development supported by geoscience driven exploration,
we believe the Hope Bay Belt has great potential to be Canada's next
major gold mining camp and a long-term, profitable and
environmentally responsible gold producer for the benefit of all
stakeholders." 
The parties have agreed that the LOI will terminate on March 31, 2013
unless earlier superseded by the acquisition agreement. There can be
no assurance that the proposed transaction will be completed. 
Advisors and Counsel 
TMAC's financial advisor is CIBC World Markets Inc., and its legal
counsel is Cassels Brock & Blackwell LLP. Newmont's financial
advisors are BMO Capital Markets and J.P. Morgan, and its legal
counsel is Lawson Lundell LLP.  
About TMAC 
TMAC is a privately held mining exploration and development focused
company comprised of several of the former senior executives of the
FNX Mining Company Inc. and headed by Terry MacGibbon, founder of FNX
Mining Company Inc. and Chairman and Co-Founder of Torex Gold
Resources Inc. TMAC management has an exceptional track record for
developing high grade, profitable underground mines.  
Cautionary Statements 
This release contains "forward-looking statements" within the meaning
of applicable securities laws that are intended to be covered by the
safe harbors created by those laws, including statements that use
forward-looking terminology such as "may", "will", "expect",
"anticipate", "believe", "continue", "potential" or the negative
thereof or other variations thereof or comparable terminology. Such
forward-looking statements may include, without limitation,
statements regarding the completion of the proposed transaction, the
potential of the Hope Bay Gold Belt and other statements that are not
historical facts. While such forward-looking statements are expressed
by Newmont or by TMAC, as stated in this release, in good faith and
believed by the applicable party to have a reasonable basis, they are
subject to important risks and uncertainties including, without
limitation, approval of applicable governmental or regulatory
authorities, TMAC defining a reserve at the Hope Bay Gold Belt, the
receipt of all required third party approvals, the satisfaction or
waiver of certain other conditions contemplated by the LOI, the
inability to realize expected synergies or cost savings, errors in
estimates of reserves or future production, parts, equipment, labor
or power shortages or other increases in costs, mining accidents or
other adverse events, changes in applicable laws or regulations,
competition from other mining companies, and the other risks
disclosed in Newmont's public filings, any or all of which could
cause actual results to differ materially from future results
expressed, projected or implied by the forward-looking statements. As
a result of these risks and uncertainties, the proposed transaction
could be modified, restructured or not be completed, and the results
or events predicted in these forward-looking statements may differ
materially from actual results or events. These forward-looking
statements are not guarantees of future performance, given that they
involve risks and uncertainties. Statements with respect to the
potential of the Hope Bay Gold Belt should not be interpreted to mean
that an economic analysis has been completed by TMAC. No economic
analysis has been completed to date. Neither Newmont nor TMAC is
affirming or adopting any statements attributed to the other in this
release or made by the other party outside of this release. Neither
Newmont nor TMAC undertakes any obligation to release publicly
revisions to any forward-looking statement, except as may be required
under applicable securities laws, or to comment on expectations of,
or statements made by the other party or third parties in respect of
the proposed transaction. Investors should not assume that any lack
of update to a previously issued forward-looking statement
constitutes a reaffirmation of that statement. Continued reliance on
forward-looking statements is at investors' own risk. 
Contacts:
TMAC Resources Inc.
Terry MacGibbon
(416) 520-3516 
TMAC Resources Inc.
Catharine Farrow
(705) 669-7900