Mr. Mark Bristow reports

BARRICK RESPONDS TO MALI GOVERNMENT'S CLAIMS OF BREACHING ITS COMMITMENTS

Barrick Gold Corp. denies the allegations made by the Malian Ministry of Mines and the Finance Ministry that it had not honoured its commitments made under an agreement designed to achieve a more equitable distribution of mineral resource exploitation to the benefit of all stakeholders.

As announced by Barrick on Sept. 30, the company and the government agreed on a negotiation framework to achieve a global resolution of their disputes. Since that date, Barrick has been actively engaged with the government in pursuit of such a settlement, the terms of which will be set out in a memorandum of agreement.

This memorandum of agreement is intended to settle outstanding differences and to establish the principles that would guide Barrick's partnership with the government in future, including an increase in the state's share of the economic benefits generated by the Loulo-Gounkoto complex.

In early October, Barrick made a payment to the government of 50 billion West African CFA francs ($85-million (U.S.)) in the context of the continuing negotiations. Since then, it has consistently maintained its efforts to engage with the government. While Barrick does not accept any claims of wrongdoing, it has chosen to act in good faith as a long-standing partner of Mali, aiming to resolve outstanding disputes through this memorandum of agreement.

Barrick president and chief executive Mark Bristow said the company's mutually beneficial relationship with successive Malian governments had endured for 30 years and occasional differences had always been amicably resolved. Barrick remains committed to finding a mutually acceptable solution to the current impasse in the interest of all stakeholders.

We seek Safe Harbor.