Mr. Mark Bristow reports

CONVERSION OF NGM'S TS POWER PLANT ALIGNS WITH NEVADA'S CARBON REDUCTION AMBITIONS

In support of Nevada's carbon-reduction objectives and in partnership with governor Sisolak's administration, Nevada Gold Mines (NGM) -- a joint venture between Barrick Gold Corp. (61.5 per cent) as the operator and Newmont Corp. (38.5 per cent) -- has approved the conversion of its TS coal power plant to a dual fuel process, allowing the facility to generate power from natural gas. This conversion will enable the facility to reduce carbon emissions by as much as 50 per cent. NGM is currently working with Nevada on final permitting to allow construction to begin near the end of 2020, with the goal of final commissioning in the second quarter of 2022.

As part of its overall energy management strategy, NGM is also reviewing the potential for a 200-megawatt solar facility with battery storage. The intention is to phase construction, initially installing 100 megawatts that could produce power as early as 2022. A study is currently under way and, once the project is approved, NGM will work with Nevada and the Office of Energy on permitting.

"Nevada Gold Mines is committed to providing its operations low-cost, secure power generation through northeastern Nevada's power grid now and into the future. The conversion of NGM's TS power plant and the potential for an additional solar power facility illustrates this commitment while reducing the state's carbon emissions," said Greg Walker, executive managing director at NGM.

NGM has two power generation facilities in northern Nevada, with the TS power plant in Dunphy and the Western 102 power plant outside of Reno. The TS power plant commenced operation in 2008 and has a capacity of 215-megawatt power generation from its original coal-fired process. The Western 102 power plant has a capacity of 115 megawatts, supplying power from natural gas fired generators and a one-megawatt solar facility.

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