Mr. Daniel Oh reports

BARRICK COMMENTS ON REVISED PASCUA-LAMA SANCTION

Barrick Gold Corp. is analyzing a revised sanction related to the company's Pascua-Lama project issued on Jan. 17 by Chile's Superintendencia del Medio Ambiente (SMA).

All amounts expressed in U.S. dollars.

The Pascua-Lama project is currently operating under a temporary closure plan in Chile. During this period, the company has continued to manage all aspects of the project in a responsible manner.

The sanction is part of a re-evaluation process ordered by the country's environmental court in 2014 and relates to historical compliance matters at the Pascua-Lama project. The revised sanction includes a reduction of the original administrative fine imposed by the SMA in 2013, from approximately $16-million to $11.5-million. Based on a preliminary review of the resolution, the SMA has not revoked Pascua-Lama's environmental permit (RCA) but has ordered the closure of existing facilities on the Chilean side of the project, in addition to certain monitoring activities. The company will complete a detailed analysis of these requirements and will provide further details in due course.

The closure of existing surface facilities in Chile is consistent with the company's plan to advance a prefeasibility study for an underground mining operation at Pascua-Lama, which would address a number of community concerns by reducing the overall environmental impact of the project. In order to complete the prefeasibility study, the company is currently undertaking a number of optimization studies.

We seek Safe Harbor.