Mr. Mark Hill reports

BARRICK ANNOUNCES EVALUATION OF AN INITIAL PUBLIC OFFERING OF ITS NORTH AMERICAN GOLD ASSETS

Barrick Mining Corp.'s board of directors has unanimously authorized Barrick's management team to explore an initial public offering of a subsidiary that will hold Barrick's premier North American gold assets (NewCo).

If an IPO is pursued, NewCo would be anchored by Barrick's joint venture interests in Nevada Gold Mines and Pueblo Viejo, as well as Barrick's wholly owned Fourmile gold discovery in Nevada.

It is contemplated that NewCo would be listed through an initial public offering of a small minority interest. Following the IPO, Barrick would intend to retain a significant controlling majority interest in NewCo while also retaining and driving value in the company's other world-class global gold and copper assets in its portfolio. This action is complementary to the board's continuing operational review and focus on maximizing value across Barrick's portfolio for shareholders, particularly in North America.

"Barrick's gold operations in Nevada and the Dominican Republic are among the best in the world, located in some of the best gold mining jurisdictions," said Mark Hill, group chief operating officer and interim president and chief executive officer. "Adding our 100-per-cent-owned Fourmile project in Nevada, one of this century's most significant gold discoveries, could put NewCo in a league of its own."

Mr. Hill continued: "As we recently noted at our Q3 results, we are singularly focused on driving improved performance and shareholder value with the right teams now in place to deliver on our commitments. While we explore an IPO of our North American assets that could give new and existing shareholders more optionality around jurisdiction in a pure gold company with growth, we will not waiver from our commitment to operate safely, perform to our targets and deliver our growth projects."

The board has authorized Barrick's management to explore this potential value creation initiative through early 2026, and Barrick will update the market on its progress at the company's full-year 2025 results in February, 2026.

Any decision on whether to pursue an IPO and the timing thereof are subject to approval of the company's board of directors, other customary requirements and approvals and market conditions.

About Barrick Mining Corp.

Barrick is a leading global mining, exploration and development company. With one of the largest portfolios of world-class and long-life gold and copper assets in the industry -- including six of the world's Tier 1 gold mines -- Barrick's operations and projects span 18 countries and five continents. Barrick is also the largest gold producer in the United States. It creates real, long-term value for all stakeholders through responsible mining, strong partnerships and a disciplined approach to growth. Barrick shares trade on the New York Stock Exchange under the symbol B and on the Toronto Stock Exchange under the symbol ABX.

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