Mr. Kelvin Dushnisky reports

BARRICK ACHIEVES 2015 PRODUCTION GUIDANCE

Barrick Gold Corp. is estimating preliminary 2015 full-year production of 6.12 million ounces of gold, in line with the company's updated guidance of 6.0 million to 6.15 million ounces. Preliminary full-year copper production of 511 million pounds also met guidance of 480 million to 520 million pounds. All amounts expressed in U.S. dollars.

"We are pleased with the solid performance of our portfolio in 2015," said Barrick president Kelvin Dushnisky. "In addition, we significantly improved our liquidity and strengthened our balance sheet, meeting our $3-billion debt reduction target through disciplined non-core asset sales, partnerships and free cash flow. As a result, we reduced our total debt by 24 per cent last year."

Preliminary fourth-quarter and 2015 highlights include:

• Gold production of 1.62 million ounces and copper production of 138 million pounds in the fourth quarter;
• The realized average gold price (1) is expected to be $1,105 per ounce in the fourth quarter and $1,157 per ounce for the full year. The realized average copper price (1) is expected to be $2.16 per pound in the fourth quarter and $2.37 per pound for the full year.

(1) Realized average gold price and realized average copper price are non-generally accepted accounting principles financial performance measures with no standardized definition under international financial reporting standards.

Barrick is in the process of carrying out its annual accounting impairment review. Preliminary analysis indicates potential goodwill impairment charges of approximately $1.8-billion and asset impairment charges in the range of $1.0-billion to $1.2-billion primarily related to Pascua-Lama and Pueblo Viejo. For impairment testing purposes, the company will use a gold price assumption of $1,000 per ounce for 2016 and a long-term gold price assumption of $1,200 per ounce.

"In line with our objective of generating positive returns in virtually any foreseeable gold price environment, we have decided to use pricing for our impairment testing that is prudent in current market conditions," said Mr. Dushnisky.

Barrick will report detailed financial and operating results, including final impairment test results, on Feb. 17, 2016, along with a reserve and resource update. Updates on project studies for Goldrush, the Cortez underground expansion, the Lagunas Norte mine life extension and the second shaft option at Turquoise Ridge will be released in conjunction with Barrick's investor day in New York on Feb. 22, 2016.

Conference call and webcast

A conference call to discuss the company's financial results will be held on Thursday, Feb. 18, at 11 a.m. ET.

North American callers dial:  877-648-7976

International callers dial:  1-617-826-1698

Participant passcode:  22861420

A live webcast and replay of the conference call will be available on Barrick's website.

The conference call will be available for replay by phone until March 3 by calling 855-859-2056 for North American callers and 1-404-537-3406 for international callers. The passcode is 22861420.

  PRELIMINARY FOURTH-QUARTER AND FULL-YEAR PRODUCTION AND REALIZED PRICES

                                    Q4          Q4   Full year   Full year
                                  2015        2014        2015        2014
Gold (millions of oz)
Cortez                           0.352       0.185       0.999       0.902
Goldstrike                       0.312       0.187       1.053       0.902
Pueblo Viejo (60%)               0.134       0.177       0.572       0.665
Lagunas Norte                    0.119       0.176       0.560       0.582
Veladero                         0.159       0.197       0.602       0.722
Subtotal                         1.076       0.922       3.786       3.773
Porgera (95%)(2)                 0.066       0.126       0.436       0.493
Acacia (63.9%)(3)                0.129       0.116       0.468       0.470
KCGM (50%)                       0.083       0.081       0.320       0.326
Cowal (2)                            -       0.061       0.156       0.268
Hemlo                            0.074       0.056       0.219       0.206
Turquoise Ridge (75%)            0.061       0.039       0.217       0.195
Round Mountain (50%)             0.049       0.036       0.192       0.164
Bald Mountain                    0.040       0.055       0.191       0.161
Golden Sunlight                  0.009       0.025       0.068       0.086
Pierina                          0.030       0.006       0.054       0.017
Ruby Hill (2)                    0.002       0.004       0.010       0.033
Total gold (4)                   1.619       1.527       6.117       6.249
Realized price ($/oz)            1,105       1,204       1,157       1,265
Copper (millions of lb)
Zaldivar (2)                        51          58         218         222
Lumwana                             81          76         287         214
Jabal Sayid (50%)                    6           -           6           -
Total copper                       138         134         511         436
Realized price ($/lb)             2.16        2.91        2.37        3.03

(2) Porgera figures reflect 47.5-per-cent ownership after Aug. 31, 2015;
    Cowal and Ruby Hill figures reflect production to July 23, 2015, and Dec.
    17, 2015, respectively; and Zaldivar figures reflect 50-per-cent ownership
    after Dec. 1, 2015.
(3) Barrick's equity interest in Acacia was reduced to 63.9 per cent from 73.9
    per cent following the partial divestment of shares completed on March 11,
    2014.
(4) Total 2014 gold mine production includes production from the Plutonic,
    Kanowna and Marigold mines, which were divested during 2014. Sum of gold
    mine production figures may not equal total production figures due to
    rounding.

We seek Safe Harbor.