The Mariners, despite being reduced to 10-men midway through the opening-half after Jake McGing's dismissal, looked the more likely of the two sides for the majoirty of the contest.
But Newcastle, who would have moved to the top of the A-League table with a win, took the lead in the 83rd minute through Milos Trifunovic.
However, in a frantic climax to the game, the Mariners sent everyone forward for a free-kick, including goalkeeper Paul Izzo, and it was Matt Sim who calmly scored the vital equaliser.
While Coast Coast looked the better of the two sides for most of the game, it appeared they were going to ultimately be left to rue McGing's red card in just the 24th minute after a reckless challenge on Leonardo.
The Mariners started the game strongly, with attacker Daniel Heffernan scuffing his close-range shot on goal, which caused Jets goalkeeper Mark Birighitti an early headache, in just the second minute.
But Scott Miller's side, buoyed by their fast start to the season, responded just shy of the quarter hour mark, with Trifunovic appearing to be brought down in a one-on-one situation with Izzo.
However, replays suggested that referee Kris Griffiths-Jones made the right call with Trifunovic going down way too easily.
After dodging a bullet there, the Mariners were unfortunate not to be awarded a penalty in the 21st minute after Mitch Austin was fouled right on the edge of the box.
And just three minutes later, the news got worse for Central Coast with McGing given a straight red card for his challenge on Leonardo.
The Jets tried to take advantage of their numerical advantage for the rest of the opening-half, but Trifunovic's attempted chip in the 40th minute, which found the side netting, was as close as the hosts got to breaking the deadlock.
Central Coast started the second stanza energetically and overseas marquee signing Roy O'Donovan's point-blank shot was vitally kepted out by Birighitti, just eight minutes after the resumption.
Although it looked like Trifunovic's late goal would be the difference, the Mariners had other ideas and Sim's stoppage-time effort ensured a fair point for Tom Walmsley's side.
Newcastle Jets 1 (Trifunovic 83')
Central Coast Mariners 1 (Sim 90+2')
Hunter Stadium, Newcastle
Referee: Kris Griffiths-Jones
