Mr. Deni Nicoski reports

BARRICK ANNOUNCES REDEMPTION OF 2.75% CONVERTIBLE SENIOR DEBENTURES

Barrick Gold Corp. will redeem on Oct. 20, 2010, all of its outstanding Placer Dome 2.75-per-cent convertible senior debentures due 2023 (Cusip 725906AK7 and Cusip 725906AJ0) issued by Placer Dome Inc. All figures are shown in U.S. dollars, unless otherwise specified. On redemption, Barrick will pay to the registered holders of the debentures a redemption price of 100.825 per cent of the principal amount outstanding, plus accrued and unpaid interest to the redemption date, for a total of $1,008.56 per $1,000.00 principal amount of debentures. The total principal amount of debentures currently outstanding is $229.17-million. Payment of the redemption price and accrued interest shall be made through normal DTC procedures.

Upon compliance with the terms and conditions of the debentures, the debentures may be surrendered for conversion at any time prior to 5 p.m. ET on Oct. 19, 2010. The conversion rate in effect as of June 1, 2010, is 40.8296 common shares of Barrick per $1,000.00 principal amount of debentures. As of 5 p.m. ET on Oct. 19, 2010, the debentures shall cease to be convertible into common shares. Barrick intends to use available finances to redeem any and all unconverted debentures.

This press release does not constitute a notice of redemption of the debentures. The redemption of the debentures is made solely pursuant to Barrick's notice of redemption dated Aug. 26, 2010, and delivered by the trustee under the indenture to the registered holders of the debentures.