OPEN LETTER TO MR. O’BRIEN CEO. OF NEWMONT MINING CORP

Miami December 1, 2011

Mr. Richard T. O'Brien

CEO of Newmont Mining Corp.

6363 South Fiddler's Green Circle

Suite 800

Greenwood Village, CO 80111

Dear Mr. O'Brien,

If you and your mining corporation have decided lo leave Peru, that is strictly your business, and I think Peru will respect that. But, if someone would ask me if your decision is the correct decision, my answer would be that is a bad decision; because, there is much gold there to be produced and you know it, in exchange for almost no investment.

Let me explain: What the people of Cajamarca only want in this project, is not to be ignored as the legal owners of the “Natural Resources” of this area as the legitimate Constitution of Peru, “La Constitución de 1979”, recognized.

Let me tell you a very small story: The government of my country, Peru, since April 1992, has been a series of illegitimate governments. The legitimate Constitution of Peru has been replaced with an apocryphal document that is the product of a dictatorship.

If this were to happen in this country, the US of America, the noble people of the United States of America, I am sure, they would not allow it. It probably would start a very bloody revolution and they wouldn’t stop until this situation ended and the Constitution of the US were reinstated. And this is exactly what the people of Perú are trying to do.

Well now, you and your corporation find out that real owner of the natural resources of Peru is the people of Peru; the people of Cajamarca, the same people that since the time of the conquistadors were lied to and betrayed. When the Conquistadors came to Peru, The Inca of the Empire, Atahualpa, in good will, invited them and received them in the city of Cajamarca; What the Conquistador did? They took him hostage and made him a prisoner.

The Inca asked the conquistadors, “What do you want?”

They answered, “We want lots gold and if you give it to us, we will leave.”

The Inca standing on the tip of his toes – he was a very tall man – and reaching high on the wall with his right index finger he said; “I will give you three rooms the size of this, one full of gold and two full of silver, up to the top of my index finger, but promise me you will leave.”

The Inca Atahualpa, delivered what he promised. Guess what the conquistadors did, they betrayed him, they did not honor their words and they killed him after they received the gold and the silver.

Now dear sir, do you think that the people of Cajamarca should take any investor word, and false promises, just like that? In the city of Cajamarca, what is going on is an awakening of the spirit of the Inca who said to his subjects, “Do not trust any more! Be alert! Ask for fairness and equality on the contracts! Read all the fine print! And ask for the best deal you can get without cheating your counterpart but also do not let it cheat you!”

What’s wrong with that, Mr. O’Brien? In America, we call this making a good and honest business arrangement.

Let me continue; and why do I think that you are making a bad decision if you decide to leave Perú? Is very simple: when someone wants to make an investment, he looks for a situation where he can make a good return for his money; this is just normal and a good business practice. In the Project Conga the return on the investment probably, I will say, plus or minus, is 100 units of return per 1 unit of investment, correct me if I am wrong; which, for anyone who knows how to do math, is an extremely good return.

Of course the people of Cajamarca think that this is very unfair - you guys take home the gold by billions and billions of dollars and leave to the people of Cajamarca a very small portion of the profits, a very, very small share. The lands, by thousands of square miles, destroyed; water contaminated with chemicals, mercury and cyanide, and God knows what more.

Are you going to tell me that you are going to lose this great deal just because you don’t want to renegotiate the terms of the contract with more fairness for the Peruvian people? Lets look this situation very calmly; Even if the new terms of a new contract, were 50/50 or even 60/40 from the profits – 60 for the investors and 40 for the owners of the gold, the people of Cajamarca – this deal still will be a great deal for the investors. It will still be 60 dollars of return for 1 dollar of investment. What a great deal!

Mr. O’Brien lets go back to the negotiating table; Let’s do something that it will make very proud to your Company and to the people of Cajamarca and richer to the shareholders of your company. Let’s make the right deal. Don’t forget that you have shareholders’ interests to consider.

Sincerely, very truly yours,

For the Constitution of Peru.

Ruben Bernal Gayoso

Peruvian DNI no 06362705