An anonymous director reports

BARRICK SIGNS DEFINITIVE AGREEMENT WITH BULLFROG GOLD

Wholly owned subsidiaries of Barrick Gold Corp. and Bullfrog Gold Corp. (BFGC) have entered into a definitive purchase agreement, pursuant to which Barrick will sell to BFGC all of Barrick's mining claims, historical resources, permits, rights-of-way and water rights in the Bullfrog mine area. The transaction is expected to close during the fourth quarter of 2020.

The mineral lease and option to purchase agreement between a subsidiary of BFGC and Barrick dated March 23, 2015, as amended, has been terminated, eliminating Barrick's back-in right.

As previously announced by BFGC, Barrick will receive 54.6 million units as consideration. Each unit comprises one share of common stock of BFGC and one whole warrant that entitles the holder to purchase one share of capital stock in BFGC at an exercise price of 30 cents for four years from the date of closing. On closing, Barrick will own approximately 16.8 per cent of BFGC's total issued and outstanding shares, or approximately 19.9 per cent of BFGC's shares on a fully diluted basis. BFGC will also grant to Barrick a 2-per-cent net smelter return royalty on all minerals produced from the claims, decreasing to a minimum 0.5-per-cent net smelter return royalty on certain claims already subject to royalties.

Concurrently, Augusta Investments Inc. and certain other persons identified by Augusta have entered into subscription agreements with BFGC, pursuant to which BFGC will issue and sell to the purchasers an aggregate of 110 million units for total consideration of $22-million.

The closing of each transaction is interconditional and subject to other customary conditions.

Barrick is acquiring the units in BFGC for investment purposes. Depending on market conditions and other factors, including BFGC's business and financial condition, Barrick may acquire additional units or other securities of BFGC or dispose of some or all of the units or other securities of BFCG that it owns at such time.

In connection with the transaction, Barrick, Augusta and BFGC will enter into an investor rights agreement on closing, pursuant to which, among other rights, so long as Barrick maintains a minimum 10-per-cent ownership in BFGC, Barrick will be granted the right to appoint one director to BFGC's board of directors and the right to participate in future BFGC equity issuances to maintain its then-current pro rata interest in BFGC.

An early warning report will be filed by Barrick, in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact Kathy du Plessis.

About Barrick Gold Corp.

Barrick Gold is a senior gold-mining company organized under the laws of British Columbia. Barrick's corporate office is located at Brookfield Place, TD Canada Trust Tower, suite 3700, 161 Bay St., PO box 212, Toronto, Ont., M5J 2S1.

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