Ms. Kathy du Plessis of Barrick reports

BARRICK ANNOUNCES ADDITIONAL INVESTMENT IN HERCULES SILVER

On Nov. 10, 2023, Barrick Gold Corp. purchased seven million warrants to purchase common shares of Hercules Silver Corp. for total consideration of $6.58-million. The warrants were immediately exercised at their exercise price of 11 cents per Hercules common share.

Prior to its acquisition and exercise of the warrants, Barrick owned 26,556,870 common shares of Hercules and 6,804,918 warrants, representing approximately 12.33 per cent of the outstanding Hercules common shares on a non-diluted basis and 15.02 per cent on a partially diluted basis. Barrick now owns 33,556,870 common shares and 6,804,918 warrants of Hercules, representing approximately 15.09 per cent of the outstanding Hercules common shares on a non-diluted basis and 17.61 per cent on a partially diluted basis.

Barrick acquired the Hercules shares for investment purposes. Barrick may, depending on market conditions and other factors, acquire additional shares, warrants or other securities of Hercules, or dispose of some or all of the Hercules shares, warrants or other securities of Hercules that it owns at such time.

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.

Barrick is a senior gold mining company organized under the laws of the Province of British Columbia. Barrick's corporate office is located at Brookfield Place, TD Canada Trust Tower, Suite 3700, 161 Bay Street, P.O. Box 212, Toronto, Ont., M5J 2S1. Hercules's head office is located at 100 King St. W, 1 First Canadian Place, Suite 1600, Toronto, Ont., M5X 1G5.

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