Mr. Mark Bristow reports

LONG-TERM VALUE CREATION DRIVES SUSTAINABLE GROWTH FOR BARRICK

Barrick Gold Corp. is making significant progress in building a business for the future with a peerless Tier 1 focused asset portfolio and a strategy that continues to uncover and unlock value while also fostering productive partnerships in its host countries. All amounts are expressed in U.S. dollars.

Speaking in New York to investors at an in-depth presentation on the group's position, achievements and plans, president and chief executive Mark Bristow said that, since the merger, Barrick had generated $23-billion in operating cash flow, invested $15-billion in its operations and growth projects (effectively recapitalizing operations for the next 10 years or more), reduced the net debt by nearly $4-billion, and returned over $5-billion to shareholders.

"Our world-class projects are set to deliver a new growth phase and our targeted exploration programs are on course to maintain Barrick's unmatched record of reserve replacement, which allows us to project a 10-year production profile," he said.

Barrick is opening up exciting new frontiers in Chile, Peru and Ecuador while also exploiting value-creating opportunities within its current asset portfolio. "In Nevada, we're making significant progress with mine extension projects at Leeville, Goldrush, Hanson, Robertson, Swift and new extensions to Turquoise Ridge. The newly permitted Goldrush mine is ramping up production and the adjacent Fourmile, which is currently 100 per cent owned by Barrick, is turning out to be a truly world-class asset," Mr. Bristow said.

Barrick has completed a preliminary economic assessment at Fourmile using conservative mining rates and costs, all of which draw directly from the current Goldrush mine plan. The results highlight the potential for annual operating cash flows that are at least 70 per cent higher than the already-world-class Goldrush project.

Mr. Bristow said Barrick's holistic approach to sustainability is central to every aspect of its value-driven business. "It enables us to make the most of the highest-quality gold assets in the industry while building a world-class copper business. It supports the evolution of a partnership model that benefits all stakeholders. It is key to the management of the mines that generate the free cash flow to fund our organic growth projects and build the strong balance sheet that enables a disciplined return to shareholders. Not least, it attracts the best and the brightest new employees because it resonates with their own values," he said.

The webcast of today's investor day presentations is available on Barrick's website.

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