Mr. David Lee reports

BARRICK REPORTS PRELIMINARY SECOND QUARTER PRODUCTION RESULTS

Barrick Gold Corp. is continuing to make good progress on achieving its goals and objectives set out at the start of the year.

Reflecting another solid operating performance across its portfolio, Barrick announced preliminary second quarter sales of 1.37 million ounces of gold and 96 million pounds of copper, as well as preliminary second quarter production of 1.35 million ounces of gold and 97 million pounds of copper. The average market price for gold in the second quarter was $1,309 per ounce, while the average market price for copper in the second quarter was $2.77 per pound.

Preliminary second quarter gold sales and production are in line with the solid base set in the first quarter and support annual production at the upper end of the 2019 group guidance range, driven by strong performances from Loulo-Gounkoto and Veladero, offset by lower production at Barrick Nevada, as guided, and production interruptions at Pueblo Viejo. This is before including the impact of the Nevada gold mines joint venture transaction that was successfully completed on July 1, 2019, and which, as indicated, is expected to positively impact the production outlook for the year. Second quarter gold costs per ounce are expected to be marginally higher than Q1 2019.

Preliminary second quarter copper sales and production were slightly lower than the first quarter of the year, primarily as a result of lower production at Lumwana. Despite this, the continuing efficiency initiatives that have been implemented are expected to result in a slight quarter-over-quarter decrease in the company's copper costs per pound. The 2019 copper production and cost guidance is unchanged.

Barrick will provide additional discussion and analysis regarding its second quarter production and sales when the company reports its quarterly results before North American markets open on Aug. 12, 2019, followed by a live presentation by president and chief executive officer Mark Bristow at 11 a.m. EDT at Barrick's corporate office in Toronto. The presentation will be linked to a webcast and conference call.

The attached table includes preliminary gold and copper production and sales results from the company's operations.

 PRODUCTION/SALES FOR THE THREE MONTHS ENDED JUNE 30, 2019

                                    Production        Sales

Gold (equity ounces (thousands))                          
Cortez                                     280          281
Goldstrike                                 181          181
Turquoise Ridge (75%)                       65           85
Barrick Nevada                             526          547
Loulo-Gounkoto (80%)                       147          148
Pueblo Viejo (60%)                         124          132
Kibali (45%)                                95           95
Acacia (63.9%)                             101           92
Veladero (50%)                              75           74
Porgera (47.5%)                             61           63
Tongon (89.7%)                              61           59
Hemlo                                       55           56
Kalgoorlie (50%)                            57           55
Lagunas Norte                               39           38
Morila (40%)                                 6            7
Golden Sunlight                              6            6
Total gold                               1,353        1,372
Copper (equity pounds (millions))                    
Lumwana                                     49           48
Zaldivar (50%)                              32           31
Jabal Sayid (50%)                           16           17
Total copper                                97           96

The scientific and technical information contained in this news release has been reviewed and approved by Steven Yopps, Mining and Metallurgical Society of America, Barrick's director of metallurgy in North America, Chad Yuhasz, professional geoscientist, Barrick's mineral resource manager in Latin America and Australia Pacific, and Simon Bottoms, chartered geologist, Barrick's mineral resources manager in Africa and the Middle East -- each a qualified person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).

Second quarter 2019 results

Barrick will release its second quarter 2019 results before market open on Aug. 12, 2019, followed by a live presentation by president and chief executive officer Mark Bristow at 11 a.m. EDT at Barrick's corporate office in Toronto. The presentation will be linked to a webcast and conference call.

Call details

United States and Canada:  1-800-319-4610

United Kingdom:  0808-101-2791

International:  1-416-915-3239

Webcast

If you wish to attend the presentation in Toronto, please contact David Lee. The Q2 2019 presentation materials will be available on Barrick's website.

The webcast will remain on the website for later viewing and the conference call will be available for replay by telephone at 1-855-669-9658 (United States and Canada) and 1-604 674-8052 (international), with access code 3391.

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