Mr. Andy Lloyd reports

BARRICK ANNOUNCES DIVIDEND ENHANCEMENTS IN CONNECTION WITH RANDGOLD MERGER

Barrick Gold Corp. and Randgold Resources Ltd. have agreed to increase dividends to shareholders as follows (all amounts are in U.S. dollars):

• Randgold shareholders will be entitled to receive a dividend of $2.69 per share for the 2018 financial year, instead of the originally agreed Randgold dividend of $2 per share.
• Barrick shareholders will be entitled to receive a fourth quarter dividend of seven cents per share (for an annualized 2018 dividend of 16 cents per share), instead of the originally agreed Barrick fourth quarter dividend of five cents per share. Barrick will target a continuing annual dividend of 16 cents per share, representing an increase of four cents per share from the company's current annual dividend of 12 cents per share.

The originally disclosed Randgold dividend was set at $2 per share, which was based on Randgold's dividend for 2017, and was equal to the largest per share dividend that had been paid by Randgold to date. Based on Randgold's dividend policy and its financial performance in 2018 to date, Randgold has determined that a dividend of $2.69 per share for 2018 would be consistent with that dividend policy. This increase is expected to amount to approximately $65-million in aggregate. The increased Randgold dividend is expected to be declared and paid prior to the closing of the merger.

Based on the strong fundamentals of Barrick at present and following completion of the merger, including stronger cash flow generation, additional overhead cost savings, potential asset sale proceeds and lower interest costs, Barrick will target an annualized dividend of 16 cents per share. A dividend of seven cents per share is expected to be declared in December, 2018, for payment in early 2019 to shareholders of Barrick prior to the completion of the merger. This will result in an annual dividend of 16 cents per share paid to the shareholders of Barrick in respect of the 2018 financial year. The increase in the fourth quarter dividend is expected to amount to approximately $23-million in aggregate. Thereafter, the company expects to pay a quarterly dividend of four cents per share, commencing with the dividend to be declared and paid in respect of the first quarter of 2019.

Except as stated, the terms of the merger remain unchanged.

Recommendation of the board of directors

Barrick's board of directors unanimously reaffirms its view that the merger and the continuance of Barrick to British Columbia are in the best interests of Barrick and recommends that Barrick shareholders vote for the share issuance and continuance resolutions described in the circular. A special meeting of shareholders to approve the resolutions will be held on Nov. 5, 2018.

We seek Safe Harbor.