Mr. Mark Bristow reports

AFRICA'S LARGEST GOLD MINE PROBES SIGNIFICANT NEW DISCOVERIES

Very significant near-mine discoveries within trucking distance of Barrick Gold Corp.'s plant are poised to keep expanding Kibali, Africa's largest gold mine, well into the future, said Barrick president and chief executive officer Mark Bristow. The company is also consolidating new prospective grounds for both gold and copper to expand its footprint in the Democratic Republic of the Congo. All amounts are expressed in U.S. dollars unless stated otherwise.

Speaking to media and local stakeholders here, Mr. Bristow said the newly defined ARK target located four kilometres from the processing plant had the potential to deliver, through additional exploration, a high-grade multimillion-ounce orebody. This, in addition to the KCD downdip extensions, supports Kibali's ability to continue replacing reserves depleted by mining with high-quality ounces going forward. The mine is currently on track to meet its production and cost guidance for the year, and remains one of the most cost-efficient producers on the continent.

Mr. Bristow noted that Kibali was a frontier mine, which over 15 years had catalyzed and promoted the growth of a thriving regional economy in the country's remote northeastern region. This continues to be driven by its multistakeholder model of partnering with local businesses and communities. To date, it has spent $2.87-billion with local contractors and suppliers.

Kibali is currently collaborating with the government on a series of initiatives aimed at further enhancing its local content initiatives in the region, which will benefit more than 500 local companies. In addition, 41 of the 44 projects targeted under Kibali's community development fund have been completed while nine of the 14 projects supported by the mine's Cahier des Charges initiative are nearing completion.

The mine's commitment to biodiversity preservation is set for its next stage as it fine-tunes plans to add 64 white rhinos to the 16 relocated to Garamba National Park last year.

Kibali continues to contribute to the Barrick group's emission reduction road map. When the commissioning of its new 16-megawatt solar plant and battery energy storage system, which augments its three hydropower stations, is completed, its renewable energy penetration will increase from 79 per cent to 85 per cent, and for six months of the year, its energy use will be entirely renewable.

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