Mr. Kelvin Dushnisky reports

BARRICK ANNOUNCES APPOINTMENT OF GEORGE BEE AS SENIOR VICE PRESIDENT FOR LAMA AND FRONTERA DISTRICT DEVELOPMENT

Barrick Gold Corp. has appointed George Bee as senior vice-president for Lama and Frontera district development, effective Sept. 12.

Reporting to chief operating officer Richard Williams, Mr. Bee's immediate focus will be on advancing a starter project option at Lama, on the Argentine side of the Pascua-Lama project. Recent evaluation by the project team indicates that a modest, scalable starter project at Lama using underground mining methods may represent the best option to begin a phased development plan for Pascua-Lama. If successful, cash flow from Lama could be used to finance additional development on both sides of the border over time.

Mr. Bee will drive forward initial conceptual work completed by the project team to date, working closely with executive director for Argentina, Juan Ordonez, as well as the Pascua-Lama team in Chile, led by Sergio Fuentes, executive project director, Pascua-Lama, and Rene Muga, executive director for Chile. The team in Chile will continue to focus on optimizing the Chilean components of the Pascua-Lama project, while working to address outstanding legal, regulatory and permitting matters.

Mr. Bee has more than 30 years of experience operating and developing world-class mines and projects, including an eight-year tour with Barrick in Latin America during his 16-year service with the company. Having been part of the team that developed Goldstrike in phases between 1988 and 1995, he left Goldstrike as mine manager. Between 1998 and 2007, he returned to Barrick to complete the construction of the Pierina mine, and continued as operations manager until being reassigned to Chile and Argentina. As general manager, he formed and led the team responsible for the successful development of the Veladero mine in 2005. After leaving Barrick, he became president and chief executive officer of Andina Minerals, before moving on to become chief executive officer at Jaguar Mining.

"Just as the Goldstrike mine was completed in stages over time, we see significant benefits to approaching Pascua-Lama in the same way. We are confident that George has the leadership capabilities, technical expertise and regional experience to develop a compelling starter project option for Lama," said Barrick president Kelvin Dushnisky.

As work on a Lama starter option advances, Mr. Bee will also begin developing an integrated development plan for the Frontera district, a 140-kilometre stretch of highly prospective land on the El Indio belt controlled by Barrick.

"In order to maximize the growth potential of this district, including Pascua-Lama, Alturas and other potential new discoveries, we believe it is critical to have an integrated, long-term strategic plan for the region," added Mr. Dushnisky.

We seek Safe Harbor.