Mr. Mark Bristow reports

A COMPREHENSIVE MULTI-YEAR PROCESS EXTENDS THE LIFE OF PUEBLO VIEJO MINE TO BEYOND 2040

Barrick Gold Corp.-operated Pueblo Viejo mine continues to advance the engineering design for the El Naranjo tailings storage facility (TSF) project which will extend its life to 2040 and beyond, president and chief executive Mark Bristow said today. The plant expansion and associated new TSF is designed to sustain gold production above 800,000 ounces per year (100-per-cent basis) going forward. All amounts expressed are in United States dollars.

Speaking at a local media briefing, Mr. Bristow said that the comprehensive engineering, environmental and community process, conducted over several years, would enable Pueblo Viejo to double the enormous contribution it had already made to the Dominican Republic's economy.

In line with its commitment to transparency, Mr. Bristow detailed the process leading up to the issuance of the environmental licence recently received for the new TSF. This started with a comprehensive site selection in line with the Global Industry Standard on Tailings Management (GISTM) and in consultation with the government and communities.

Following the site selection process, an environmental and social impact assessment (ESIA) was completed which considered potential impacts associated with the preferred and alternative sites. This involved the completion of numerous specialist studies undertaken by independent in-country and international experts, including an independent peer review.

The company consulted with interested and affected parties over the course of four years, including more than 3,000 community engagements and two open public participation meetings. In line with the company's commitment to transparency and best practice, open public meetings were advertised in local and national media and allowed sufficient opportunity for all parties to raise concerns, questions and comments throughout the process.

"Mining is the driver for global development and to date, Pueblo Viejo has paid a total of $3.2-billion in direct and indirect taxes since commencing commercial production in 2013. The extension of the mine's life will allow Pueblo Viejo to continue being a major creator of value for the Dominican Republic and its people far into the future," Mr. Bristow said.

About Pueblo Viejo

Pueblo Viejo is located in the Dominican Republic, approximately 100 kilometres northwest of the capital city of Santo Domingo and is operated by Pueblo Viejo Dominicana -- a joint venture between Barrick (60 per cent) and Newmont (40 per cent). Construction of the Pueblo Viejo project started in 2008, with first production in 2012. The company's work force is 97-per-cent Dominican. In 2020, the conversion of the mine's Quisqueya power plant to natural gas was successfully completed. This conversion from fuel oil to natural gas will decrease greenhouse gas emissions by 30 per cent and nitrogen oxide by 85 per cent, further reducing Pueblo Viejo's impact on the environment. An agribusiness project is also planned as an additional benefit for the local communities.

Endnote refer to the technical report on the Pueblo Viejo mine, Dominican Republic, dated March 17, 2023, and filed on SEDAR and EDGAR on March 17, 2023.

Technical information

The scientific and technical information contained in this presentation has been reviewed and approved by Chad Yuhasz, PGeo, mineral resource management, Latin America and Asia Pacific, and John Steele, CIM, metallurgy, engineering and capital projects executive -- each a qualified person as defined in National Instrument 43-101 -- Standard of Disclosure for Mineral Projects.

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