Mr. Mark Bristow reports

STRATEGIC REVIEW CONFIRMS AND PRIORITIZES KEY GROWTH OPPORTUNITIES FOR NEVADA GOLD MINES

An intensive strategic review by executive teams from Barrick Gold Corp. and Nevada Gold Mines has confirmed the enormous geological prospectivity of the NGM properties and outlined the key development projects.

Established in July, 2019, the Barrick-operated joint venture is already the world's single largest gold mining complex, hosting three of Barrick's Tier 1 mines and targeting production of between 3.4 million and 3.7 million ounces this year.

Barrick president and chief executive Mark Bristow said unlocking the full potential of the Nevada gold fields, one of the world's largest and most prospective gold endowments, had been one of the key drivers behind the formation of NGM. With the newly integrated operation having met all its key performance indicators last year, the focus was now shifting to the hunt for new discoveries and resource additions.

"Barrick's emphasis on agile management and exploration and orebody knowledge was implanted at NGM and is already delivering results. There are exciting opportunities for major new discoveries in the area between Turquoise Ridge and Twin Creeks, between Pipeline and Robertson in the Cortez complex, and in the Carlin basin south of Gold Quarry. There are also good prospects of near to medium-term life of mine resource additions at North Leeville, Fourmile and Goldrush, as well as at the Ren project at the Carlin complex," Mr. Bristow said.

Mr. Bristow said in addition to building a solid foundation for its 10-year business plan, NGM had also established itself as a valued partner to its communities, the state of Nevada and its other local stakeholders, as evidenced by the COVID-19 support it provided.

"NGM is now driving on-line learning initiatives through partnerships with Nevada's Department of Education and Discovery Education, and continues its long-term backing of the Western Shoshone Scholarship Foundation. As a further demonstration of our commitment to deliver long-lasting economic benefits to our stakeholders, we have approved an investment in broadband infrastructure for our surrounding communities. This will complement our support for remote learning, which relies on fast and reliable internet access, while giving our neighbours a tool that has become essential for almost every part of their daily lives," Mr. Bristow said.

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