Mr. Kelvin Dushnisky reports

BARRICK CLOSES INNOVATIVE GOLD AND SILVER STREAMING TRANSACTION WITH ROYAL GOLD

Barrick Gold Corp. has closed its previously announced gold and silver streaming transaction with RGLD Gold AG, a wholly owned subsidiary of Royal Gold Inc., for production referenced to Barrick's 60-per-cent interest in the Pueblo Viejo mine. (All amounts expressed are in U.S. dollars.)

Barrick has received an upfront cash payment of $610-million and will receive continuing cash payments for gold and silver delivered under the agreement. Proceeds from the transaction will be used to reduce debt.

Distinctive characteristics of the agreement include:

• Significant upside price participation for Barrick;
• Not subject to a Barrick guarantee and not treated as a debt-like obligation;
• Obligation of Barrick to sell gold and silver under the agreement is serviced using after-tax cash flow being remitted from the Dominican Republic.

Under the terms of the agreement, Barrick will sell gold and silver to Royal Gold:

• Equivalent to 7.5 per cent of Barrick's interest in the gold produced at Pueblo Viejo until 990,000 ounces of gold have been delivered, and 3.75 per cent thereafter;
• Equivalent to 75 per cent of Barrick's interest in the silver produced at Pueblo Viejo until 50 million ounces have been delivered, and 37.5 per cent thereafter. Silver will be delivered based on a fixed recovery rate of 70 per cent. Silver above this recovery rate is not subject to the stream.

Continuing cash payments to Barrick are tied to prevailing spot prices rather than fixed in advance, maintaining material exposure to higher gold and silver prices in the future. Barrick will receive continuing cash payments from Royal Gold equivalent to 30 per cent of the prevailing spot prices for the first 550,000 ounces of gold and 23.1 million ounces of silver delivered. Thereafter, payments will double to 60 per cent of prevailing spot prices for each subsequent ounce of gold and silver delivered.

"This innovative agreement allows us to strengthen our balance sheet in the short term, while preserving material exposure to higher gold and silver prices in the future," said Barrick president Kelvin Dushnisky.

Barrick maintains its 60-per-cent equity ownership interest in Pueblo Viejo and its associated rights under the joint venture agreement with Goldcorp Inc., including operatorship of Pueblo Viejo. This transaction does not affect any of Pueblo Viejo's obligations to the Dominican government.

We seek Safe Harbor.