Mr. Deni Nicoski reports

BARRICK ANNOUNCES PASSING OF FOUNDER AND CHAIRMAN EMERITUS PETER MUNK

Barrick Gold Corp.'s founder and chairman emeritus, Peter Munk, has died. Mr. Munk passed away peacefully in Toronto on March 28, 2018, surrounded by his family. He was 90.

Mr. Munk, an iconic Canadian entrepreneur and philanthropist, was born in Budapest in 1927. When the Nazis invaded Hungary in 1944, he escaped with his family, ultimately arriving in Toronto in 1948 at the age of 20. An immigrant with neither social connections nor a command of English, Mr. Munk nevertheless felt welcomed by Canadians, and he would go on to profess a lifelong love of his adoptive country. In 2011, he remarked, "This is a country that does not ask about your origins but concerns itself with your destiny."

Mr. Munk founded Barrick in 1983 and built it into the world's largest gold mining company in less than 25 years. He did so by leading a small team of partners who trusted one another implicitly and who together balanced boldness and prudence in the pursuit of fierce entrepreneurial ambitions.

One of Canada's most significant philanthropists, Mr. Munk donated nearly $300-million to causes and institutions that were close to his heart. With his wife, Melanie, he established the Peter Munk Cardiac Centre at the Toronto General Hospital in 1997. Mr. Munk donated more than $175-million to the institution, including a $100-million contribution in 2017 that remains the largest single gift ever made to a Canadian hospital. To his alma mater, the University of Toronto, Mr. Munk gave $47-million to create what has become Canada's pre-eminent degree-granting institution for the research and study of global affairs, the Munk School of Global Affairs. In 2008, he founded The Munk Debates, which quickly became Canada's most important public policy debate series, bringing the world's brightest minds together to debate the biggest issues of our time.

For his leadership as an entrepreneur and philanthropist, Mr. Munk received numerous awards and honours, including honorary doctorates from the University of Toronto, Concordia University, Bishop's University and the Technion-Israel Institute of Technology. In 2008, he was named a Companion of the Order of Canada, the country's highest civilian honour, limited to no more than 165 living Canadians at any one time.

Mr. Munk is survived by Melanie, his wife of 45 years; by his five children, Anthony, Nina, Marc-David, Natalie and Cheyne; and by his 14 grandchildren.

Please visit Barrick's website for more about the life of Mr. Munk.

His memory lives on with more than 10,000 Barrick employees on five continents as well as the countless individuals and communities he touched through his philanthropy in Canada and around the world.

Details of a public memorial service will be released at a later date. In lieu of flowers, donations may be made to the Peter Munk Cardiac Centre.