Orbit Garant Drilling Awarded Major Contract by Newmont Mining
Val-d’Or, Quebec, November 5, 2008 — Orbit Garant Drilling Inc. (TSX: OGD) today announced that it has entered into a major contract with Newmont Mining Corporation (NYSE: NEM) to provide diamond core drilling services at their Boston project in Nunavut.
Under terms of the contract, Orbit Garant expects to complete specialized core drilling over a three-year period at the Hope Bay Project. The Company will utilize three heli-portable drill rigs and expects to begin in Orbit Garant’s fiscal third quarter. Following completion of this contract, Orbit Garant and Newmont may extend the contract for a further three to five years.
“We are thrilled to enter into this important contract with Newmont,” said Eric Alexandre, President and Chief Operating Officer of Orbit Garant. “This underlines our commitment to continue to expand our business with one of the world’s leading mining companies.”
About Orbit Garant
Orbit Garant is one of the largest Canadian-based drilling companies, providing both underground and surface drilling services in Canada and internationally through its 134 drills and more than 500 employees. Orbit Garant provides services to major, intermediate and junior mining companies, through each stage of mining exploration, development and production.
About Newmont
Founded in 1921 and publicly traded since 1925, Newmont (www.Newmont.com) is one of the largest gold companies in the world. Headquartered in Denver, Colorado, the company has approximately 34,000 employees and contractors, with the majority working at Newmont’s core operations in the United States, Australia, Peru, Indonesia and Ghana. Newmont is the only gold company listed in the S&P 500 index and in 2007 became the first gold company selected to be part of the Dow Jones Sustainability World Index. Newmont’s industry leading performance is reflected through high standards in environmental management, health and safety for its employees and creating value and opportunity for host communities and shareholders.
Forward-looking information
This press release may contain forward-looking statements (within the meaning of applicable securities laws) relating to business of Orbit Garant Drilling Inc. (the “Company”) and the environment in which it operates. Forward-looking statements are identified by words such as “believe”, “anticipate”, “expect”, “intend”, “plan”, “will”, “may” and other similar expressions. These statements are based on the Company’s expectations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. These risks and uncertainties are discussed in the Company’s regulatory filings available at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, a forward-looking statement speaks only as of the date on which such statement is made. The Company undertakes no obligation to publicly update any such statement or to reflect new information or the occurrence of future events or circumstances.
For further information:
| Eric Alexandre President and Chief Operating Officer (819) 824-2707 Ext. 233 | Derek Henderson Investor Relations (416) 447-4740 Ext. 232 |