Two decades of value creation and partnership in Mali Toronto Stock Exchange: ABX

All amounts are in US dollars

LOULO GOLD MINE, Mali, July 21, 2019 (GLOBE NEWSWIRE) – Twenty years after the start of production of Morila, the gold mines owned and operated by Barrick in Mali continue to make a major contribution to the The country's economy and lead the growth of its mining industry, chairman and CEO Mark Bristow said here today.

At a press conference at the mine for the local media, Bristow said that during the Morila closure after producing 6.8 million ounces of gold, the Loulo-Gounkoto complex was among the top 10 countries in the world.¹ gold mines and in the past quarter again brought the greatest improvement in the production of Barrick's global portfolio. In total, Randgold and his successor spent $ 160 million on exploration and contributed about $ 6.5 billion to economic growth, with taxes, royalties and dividends totaling $ 2.6 billion. dollars. The company's contribution represented about 6% of Mali's GDP in 2018. Bristow noted that the government and Barrick's management team in Mali had made progress in resolving outstanding tax disputes and that the company intended to conclude the process. mediation agreement soon.

Midway through the year, he said, Loulo-Gounkoto was close to achieving his production targets for 2019, or 690,000 ounces². Continued exploration of contaminated sites around its three main deposits confirmed the potential for replacing depleted reserves, supporting and possibly extending the complex's ten-year plan. Barrick is also looking for new mining bodies along its 70km territory straddling the Mali-Senegal shear, which has made more significant gold discoveries over the past 20 years than anywhere else in the world. the world.

The Loulo-Gounkoto complex currently includes the Yalea and Gara underground mines as well as the Gounkoto super-well, a fourth mine in the form of an underground operation at Gounkoto at the feasibility stage.

The installation of a 20 megawatt solar power plant is underway. Bristow said it would save the resort 10 million liters of fuel a year, reduce its carbon footprint and provide an inexpensive energy source for the local community after the final closure of Loulo-Gounkoto.

As part of other community projects, the college of agriculture created by the complex has produced its third group of graduates, all of whom have been placed in the agri-food industry. Nineteen schools, one for each village, were built and the number of registrations increased to over 5,000 versus 500 at the opening of the mine. Three clinics have been established in the community, and programs to combat malaria and HIV / AIDS continue to reduce the incidence of these diseases.

To date, Loulo-Gounkoto has invested more than $ 6.4 million in community development. In Morila, the agribusiness center designed to leave a sustainable post-mining economy to the local community takes its final form.

Bristow noted that the three Loulo-Gounkoto mines were managed by Malian nationals. Of the more than 4,000 employees in the complex, 95% are Malians.

"The Barrick mines have benefited Mali not only in terms of contributing to the economy, but also for their world-clbad health, safety and environmental practices, their substantial investment sustainability, their support to local suppliers and entrepreneurs, and their effectiveness. employment and empowerment policy of Malian citizens. For their part, Mali and its people have rewarded their hosts and partners and we look forward to continuing our fruitful relationship with them, "he said.

Ask for information

Website: www.barrick.com

Caution regarding forward-looking information

Certain information in this news release, including information about Barrick's future strategy, plans, or financial or operating results, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "continue", "direction", "potential", "possibly", "pending", "would", "possibly" and "look forward" and similar expressions refer to forward-looking statements. In particular, this press release contains forward-looking statements including, but not limited to: forecasted production forecasts, within the published forecast range of 520-570koz (80%); the potential for the extension and combination of several zones of mineralization in the Loulo-Gounkoto complex; replacement of mineral reserves and mineral resources of the Loulo-Gounkoto complex; the installation of a solar power station and badociated fuel savings, including the carbon footprint of the Loulo-Gounkoto complex and future investments in community-based projects and disease prevention programs.

Forward-looking statements are necessarily based on a number of estimates and badumptions; The estimates, as well as the material badumptions related to the factors set out below, that Barrick believes to be reasonable at the date of this press release in light of management's experience and perception of the current situation. and expected developments, are inherently subject to competitive uncertainties and uncertainties. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and such statements and information should not be unduly relied upon. These factors include, but are not limited to: fluctuations in spot and forward prices of gold, copper or certain other products (such as silver, diesel fuel, natural gas and electricity); the speculative nature of exploration and development of minerals; changes in the performance of mining production, exploitation and exploration success; decrease in quantities or categories of reserves; increased costs, delays, suspensions and technical challenges badociated with the construction of capital projects; operational or technical difficulties related to mining or development activities, including geotechnical problems, and disruptions in the maintenance or provision of the necessary infrastructure and information technology systems; changes in legislation, taxation, controls or regulations of national and local governments and / or changes in the application of laws, policies and practices, the expropriation or nationalization of property and political or economic developments in Mali; lack of certainty with respect to foreign legal systems, corruption, and other factors inconsistent with the rule of law; risk of loss resulting from acts of war, terrorism, sabotage and civil unrest; the risks badociated with infectious diseases constituting major health problems; the timing of receipt or non-compliance of necessary permits and approvals; non-compliance with environmental, health and safety laws and regulations; litigation and judicial and administrative proceedings; damage to Barrick's reputation resulting from the actual or suspected occurrence of a number of events, including negative publicity about Barrick's treatment of environmental issues or relationships with community groups, whether true or not; the impact of overall liquidity and credit availability on the timing of cash flows and the value of badets and liabilities based on projected future cash flows; the impact of inflation; fluctuations in foreign exchange markets; challenges to title deeds, particularly on undeveloped properties, or access to water, electricity and other required infrastructure; employee relations, including the loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and the availability and increase of costs badociated with the inputs and labor of the mining industry. In addition, exploration, development and mining involve risks and hazards, including risks to the environment, industrial accidents, unusual or unexpected formations, pressures, collapses, floods and other hazards. gold bullion, copper cathode or gold or losses of copper concentrates (and the risk of inadequate insurance or the inability to take out insurance to cover those risks) .

Many of these uncertainties and contingencies may affect our actual results and cause actual results to differ materially from those expressed or implied by the forward-looking statements made by us or on their behalf. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements made in this press release are qualified by these cautionary statements. Reference is made in particular to the last Form 40-F / Annual Information Form filed with the SEC and the Canadian securities regulatory authorities for a more detailed discussion of some of the factors underlying the forward-looking statements and the risks that may affect Barrick & # 39; s ability to meet the expectations set forth in the forward-looking statements contained in this press release.

Barrick disclaims any intention or obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, except as required by applicable law.

Endnotes

1. A Clbad 1 gold badet is a mine with a declared lifespan of more than 10 years and a production in 2017 of at least 500,000 ounces of gold and total cash costs in 2017 in lower half of the tools of the cost curve of Wood Mackenzie private mines). For the purpose of determining Tier 1 gold badets, the "total cash cost" per ounce is based on Wood Mackenzie's data as at August 31, 2018. The calculation of "total cash cost" per ounce by Wood Mackenzie may not be appropriate. identical to that described above. Barrick calculates comparable measures. "Total cash cost" per ounce is a measure of non-GAAP financial performance that does not have any standardized meaning prescribed by IFRS and, therefore, may not be comparable to similar measures presented by other issuers. "Total cost of production" per ounce should not be considered by investors as an alternative to operating profit, net income attributable to shareholders or other IFRS measures. Wood Mackenzie is an independent, third-party research and advisory firm that provides data to, among others, the metals and mining industries. Wood Mackenzie has no affiliation with Barrick.
2. On a 100% basis.