$2M Capital Elevating

Talking to buyers on an replace name, Bristow mentioned this substantial development in copper manufacturing mixed with the output from Barrick’s sector-leading gold portfolio was anticipated to extend the group’s attributable manufacturing by some 30% to six.8 million gold-equivalent ounces by 2031. ^1,2

“The worth of those initiatives, and specifically of our substantial and rising copper enterprise, is at present underestimated by the market. If it was correctly appreciated, Barrick could be commanding a premium to our friends,” he mentioned.

Reko Diq in Pakistan is positioned to rank as one the world’s high 10 copper mines when it reaches full manufacturing and the pre-feasibility research on the Lumwana Tremendous Pit Growth is projected to ship a possible of 240,000 tonnes of copper manufacturing each year from a 50 million tonne course of plant growth over a 36-year lifetime of mine. ^3,5 The accelerated Lumwana work program is now concentrating on to finish a full feasibility research by the tip of 2024, which brings ahead our anticipated manufacturing from the Tremendous Pit to 2028. The Reko Diq venture additionally stays on observe to ship an up to date feasibility research by the tip of 2024. Collectively, the Reko Diq and Lumwana Tremendous Pit feasibility research will underpin potential reserve updates and the transition to development.

“Inside our gold development portfolio, the wholly-owned Fourmile venture is a best-in-class improvement venture situated on the planet’s most prolific gold district adjoining to present infrastructure, with ongoing drilling demonstrating vital potential to extend in grade and dimension. Accordingly, we’re assessing choices for unbiased exploration decline entry in help of a pre-feasibility research, which might later be re-utilised for improvement and manufacturing complementing the present Goldrush improvement. The outcomes of our preliminary financial evaluation point out that this might help a possible manufacturing profile of 300,000–400,000 ounces each year, over and above the prevailing Cortez profile of 950,000–1.2 million ounces per 12 months (100% foundation) over 10 years,” says mineral useful resource administration and analysis government Simon Bottoms. ^{1 , 6}

Bristow mentioned Nevada Gold Mines, the world’s largest gold mining advanced, was anticipated to develop its annual manufacturing to three.7 million ounces (100% foundation) in direction of the tip of the last decade pushed by our three Tier One belongings and near-mine exploration pointed to the extension of that horizon to fifteen years and past. ^{1, 7}

Within the Carlin District, the present 10-year manufacturing profile is anticipated to be between 1.4–1.6 million ounces per 12 months (100% foundation) and we’ve got recognized an thrilling potential high-grade alternative at Horsham on the northeast facet of the identified high-grade controlling buildings within the Leeville Complicated that we’ll advance over the subsequent few years and is anticipated to increase this profile nicely previous the 10-year window. ¹

Equally at Turquoise Ridge, we anticipate to construct on the already vital reserves and assets base with multi-million ounce potential development alternatives at Cricket Hall to the east, BBT Hall to the south, and Getchell Fault zone to the west. This may doubtlessly additional add to the prevailing 10-year manufacturing profile of 550,000–700,000 ounces per 12 months (100% foundation). ¹

In Latin America, the Pueblo Viejo growth venture is remodeling a Tier One mine headed for closure right into a long-life, low-cost producer. ⁸ Whereas in Papua New Guinea, we’re working in direction of the restart of Porgera by the tip of this 12 months, and restarted drilling will goal the useful resource definition of the Wangima Pit, with related geology to the prevailing underground and open pit, which has the potential to underpin an roughly twenty 12 months mine life. ⁹

“The Africa and Center East area, our most constant manufacturing and reserve alternative performer, now additionally presents us with the thrilling development alternatives as we leverage our partnership mannequin in Tanzania and Saudi Arabia,” Bristow mentioned.

See Appendix A for extra particulars on the expansion research underway for the Reko Diq venture, Lumwana Tremendous Pit Growth venture, Fourmile venture, and the Porgera mine.

Enquiries:

President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386

Senior EVP and CFO
Graham Shuttleworth
+1 647 262 2095
+44 779 771 1338

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
E mail: [email protected]

Web site: www.barrick.com

Appendix A

1. 96.5% of Annual Copper manufacturing and 94% of Annual Gold manufacturing from the focus is assumed to be payable underneath business customary smelting and refining phrases.
2. Indicative gold and copper recovered manufacturing profile from Reko Diq, which is conceptual in nature. Topic to alter following an up to date feasibility research.

1. 96.5% of Annual Copper manufacturing from the focus is assumed to be payable underneath business customary smelting and refining phrases.
2. Indicative copper manufacturing profile from Lumwana, which is conceptual in nature. Topic to alter following completion of the pre-feasibility research.

1. Potential portions and grades in these preliminary outcomes are conceptual in nature and there was inadequate exploration to outline a mineral useful resource presently and it’s unsure that additional exploration will end result within the goal being delineated as a mineral useful resource.
2. Indicative gold manufacturing profile from Fourmile which is conceptual in nature. Topic to alter following completion of the pre-feasibility research.

1. Potential portions and grades in these preliminary outcomes are conceptual in nature and there was inadequate exploration to outline a mineral useful resource presently and it’s unsure that additional exploration will end result within the goal being delineated as a mineral useful resource.
2. Indicative gold manufacturing profile from Porgera (100% foundation) which is conceptual in nature and is topic to alter following completion of a pre-feasibility research.
3. 65% of growth capital is deliberate throughout 2024-2028 and 25% throughout 2029-2033.

Appendix B – Outlook Assumptions

• Barrick’s five-year indicative base case outlook is predicated on our present working asset portfolio, sustaining initiatives in progress and exploration/mineral useful resource administration initiatives in execution. Our outlook is predicated on our present reserves and assets as disclosed in our This fall 2022 report and assumes that we’ll proceed to have the ability to convert assets into reserves. Further asset optimization, additional exploration development, new venture initiatives and divestitures usually are not included. For the group gold and copper segments, and the place relevant for a selected area, our indicative outlook is topic to alter and assumes the next:
  • New open pit manufacturing permitted and commencing at Hemlo within the second half of 2025, permitting three years for allowing and two years for pre-stripping previous to first ore manufacturing in 2027.
  • Manufacturing from the proposed Pueblo Viejo plant growth and tailings facility venture beginning in 2023.
  • Tongon will enter care and upkeep by 2026.
  • Manufacturing attributable to Porgera is predicated on the idea that the mine’s present care and upkeep standing shall be non permanent, and that the suspension of operations won’t have a major impression on Barrick’s future manufacturing.
• Our five-year indicative base case outlook excludes:
  • Manufacturing from Fourmile.
  • Manufacturing from Pierina and Golden Daylight, that are at present in care and upkeep.
  • Manufacturing from long-term greenfield optionality from Donlin, Pascua-Lama, Norte Abierto or Alturas.
• Barrick’s ten-year base case manufacturing profile is topic to alter and are based mostly on the identical assumptions as the present five-year outlook detailed above, besides that the subsequent 5 years of the ten-year outlook assume attributable manufacturing from exploration and mineral useful resource administration initiatives in execution at Nevada Gold Mines and Hemlo.
• Barrick’s five-year and ten-year manufacturing profile on this presentation additionally assumes the re-start of Porgera, in addition to an indicative gold and copper manufacturing profile for Reko Diq and an indicative copper manufacturing profile for the Lumwana Tremendous Pit growth, each of that are conceptual in nature.
• Barrick’s 15-year manufacturing profile for Nevada Gold Mines is predicated on the identical assumptions because the ten-year base case manufacturing profile detailed above.

Technical Data

The scientific and technical data contained on this press launch has been reviewed and authorised by Craig Fiddes, SME-RM, Lead, Useful resource Modeling, Nevada Gold Mines; Chad Yuhasz, P.Geo, Mineral Useful resource Supervisor, Latin America & Asia Pacific; Richard Peattie, MPhil, FAusIMM, Mineral Assets Supervisor: Africa and Center East; Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Useful resource Administration and Analysis Government; John Steele, CIM, Metallurgy, Engineering and Capital Initiatives Government; and Joel Holliday, FAusIMM, Government Vice-President, Exploration — every a “Certified Particular person” as outlined in Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives . All mineral reserve and mineral useful resource estimates are estimated in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives .

Except in any other case famous, such mineral reserve and mineral useful resource estimates are as of December 31, 2022.

Endnotes

1. See Appendix B – Outlook Assumptions.
2. Gold Equal Ounces from copper belongings are calculated utilizing a gold value of $1,300/oz and a copper value of $3.00/lb.
3. Barrick holds a 50% possession curiosity within the Reko Diq venture following the completion of the transaction permitting for the reconstitution of the venture on December 15, 2022. This accomplished the method that started earlier in 2022 following the conclusion of a framework settlement among the many Governments of Pakistan and Balochistan province, Barrick and Antofagasta plc, which supplied a path for the event of the venture underneath a reconstituted construction. The remaining 50% of the reconstituted venture is held by Pakistani stakeholders. Barrick is the operator of the venture.

   Reko Diq mineral assets are estimated in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2022, until in any other case famous. Attributable Indicated assets of 1,800 tonnes grading 0.26 g/t, representing 15 million ounces of gold, and 1,900 million tonnes grading 0.44%, representing 18,000 million kilos of copper. Inferred assets of 570 tonnes grading 0.2 g/t, representing 3.7 million ounces of gold, and 590 million tonnes grading 0.4%, representing 4,600 million kilos of copper. Full mineral reserve and mineral useful resource knowledge for all mines and initiatives referenced on this presentation, together with tonnes, grades, kilos, and ounces, will be discovered on pages 33-46 of Barrick’s 2022 Annual Data Kind / Kind 40-F on file with the Canadian provincial securities regulators on SEDAR at www.sedar.com and the Securities and Change Fee on EDGAR at www.sec.gov .

4. Reko Diq “Price of Gross sales” per pound Cu “C1 money prices” per pound Cu and “All-in sustaining prices” per pound Cu are reported inclusive of by-product credit score for gold manufacturing based mostly upon long run reserve costs of $1,300/oz Au and $3.00/lb Cu.
5. Lumwana monetary metrics and manufacturing metrics are based mostly upon a preliminary financial evaluation which is preliminary in nature as a result of it consists of inferred mineral assets which can be thought of too speculative geologically to have the financial issues utilized to them that may allow them to be categorized as mineral reserves, and there’s no certainty that the preliminary financial evaluation shall be realized. The preliminary financial evaluation for Lumwana Tremendous Pit is predicated upon a $3.00/lb whittle pit shell. The assumptions outlined inside the preliminary financial evaluation have shaped the idea for the continuing pre-feasibility research and are made by the certified particular person.

   Lumwana mineral assets are estimated in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2022, until in any other case famous. Attributable Measured assets of 140 million tonnes grading 0.48%, representing 1,500 million kilos of copper, Indicated assets of 960 million tonnes grading 0.55%, representing 12,000 million kilos of copper, and 1,100 million tonnes grading 0.44%, representing 18,000 million kilos of copper. Inferred assets of 820 million tonnes grading 0.5 %, representing 8,700 million kilos of copper. Full mineral reserve and mineral useful resource knowledge for all mines and initiatives referenced on this presentation, together with tonnes, grades, kilos, and ounces, will be discovered on pages 33-46 of Barrick’s 2022 Annual Data Kind / Kind 40-F on file with the Canadian provincial securities regulators on SEDAR at www.sedar.com and the Securities and Change Fee on EDGAR at www.sec.gov .

6. Fourmile monetary metrics and manufacturing metrics are based mostly upon preliminary financial evaluation which is preliminary in nature as a result of it consists of inferred mineral assets which can be thought of too speculative geologically to have the financial issues utilized to them that may allow them to be categorized as mineral reserves, and there’s no certainty that the preliminary financial evaluation shall be realized. The preliminary financial evaluation for Fourmile is based mostly upon $1,300/oz mineable stope optimizer. The assumptions outlined inside the preliminary financial evaluation have shaped the idea for the continuing research and are made by the certified particular person. Fourmile is at present 100% owned by Barrick. As beforehand disclosed, Barrick anticipates Fourmile being contributed to the Nevada Gold Mines three way partnership if sure standards are met following the completion of drilling and the requisite feasibility work.

   Fourmile mineral assets are estimated in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2022, until in any other case famous. Indicated assets of 1.5 million tonnes grading 10.01 g/t, representing 0.49 million ounces of gold, and Inferred assets of seven.8 million tonnes grading 10.5 g/t, representing 2.7 million ounces of gold, Full mineral reserve and mineral useful resource knowledge for all mines and initiatives referenced on this presentation, together with tonnes, grades, kilos, and ounces, will be discovered on pages 33-46 of Barrick’s 2022 Annual Data Kind / Kind 40-F on file with the Canadian provincial securities regulators on SEDAR at www.sedar.com and the Securities and Change Fee on EDGAR at www.sec.gov .

7. A Tier One Gold Asset is an asset with a $1,300/oz reserve potential to ship a minimal 10-year life, annual manufacturing of at the very least 500,000 ounces of gold and with all in sustaining prices per pound within the decrease half of the business value curve. A Tier One Copper Asset is an asset with a $3.00/lb reserve with potential for +5Mt contained copper in help of at the very least 20 years life, annual manufacturing of at the very least 200ktpa, with all in sustaining prices per pound within the decrease half of the business value curve. A Tier Two Gold Asset is an asset with a reserve potential to ship a minimal 10-year life, annual manufacturing of at the very least 250,000 ounces of gold and complete money prices per ounce over the mine life which can be within the decrease half of the business value curve. A Strategic Asset is an asset which within the opinion of Barrick, has the potential to ship vital unrealized worth sooner or later.
8. Consult with the Technical Report on the Pueblo Viejo Mine, Dominican Republic, dated March 17, 2023 and filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov on March 17, 2023.
9. Porgera monetary metrics and manufacturing metrics are based mostly upon a preliminary financial evaluation which is preliminary in nature as a result of it consists of inferred mineral assets which can be thought of too speculative geologically to have the financial issues utilized to them that may allow them to be categorized as mineral reserves, and there’s no certainty that the preliminary financial evaluation shall be realized. The preliminary financial evaluation for Porgera is predicated upon a $1,300/oz Au whittle pit shell. The assumptions outlined inside the preliminary financial evaluation have shaped the idea for the continuing pre-feasibility research and are made by the certified particular person.

   Porgera mineral assets are estimated in accordance with Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2022, until in any other case famous. Attributable Measured assets of 1.4 million tonnes grading 5.55g/t, representing 0.25 million ounces of gold, Indicated assets of 19 million tonnes grading 3.62g/t, representing 2.3 million ounces of gold. Inferred assets of 8 million tonnes grading 3.2g/t, representing 0.82 million ounces of gold. Full mineral reserve and mineral useful resource knowledge for all mines and initiatives referenced on this presentation, together with tonnes, grades, kilos, and ounces, will be discovered on pages 33-46 of Barrick’s 2022 Annual Data Kind / Kind 40-F on file with the Canadian provincial securities regulators on SEDAR at www.sedar.com and the Securities and Change Fee on EDGAR at www.sec.gov.

10. “Complete money prices” per ounce, “All-in sustaining prices” per ounce and “All-in prices” per ounce are non-GAAP monetary measures. “Complete money prices” per ounce begins with value of gross sales associated to gold manufacturing and removes depreciation, the non-controlling curiosity of value of gross sales, and consists of by-product credit. “All-in sustaining prices” per ounce begin with “Complete money prices” per ounce and consists of mine website sustaining capital expenditures, sustaining leases, basic and administrative prices, mine website exploration and analysis prices, and reclamation value accretion and amortization. These extra prices mirror the expenditures made to keep up present manufacturing ranges. “All-in prices” per ounce begins with “All-in sustaining prices” per ounce and provides extra prices that mirror the various prices of manufacturing gold over the life-cycle of a mine, together with: venture capital expenditures and different non-sustaining prices. Barrick believes that the usage of “Complete money prices” per ounce, “All-in sustaining prices” per ounce and “All-in prices” per ounce will help buyers, analysts and different stakeholders of Barrick in understanding the prices related to producing gold, understanding the economics of gold mining, assessing our working efficiency and likewise our skill to generate free money circulation from present operations and to generate free money circulation on an general firm foundation. “Complete money prices” per ounce, “All-in sustaining prices” per ounce and “All-in prices” per ounce are supposed to supply extra data solely and should not have standardized definitions underneath IFRS and shouldn’t be thought of in isolation or as an alternative to measures ready in accordance with IFRS. Though a standardized definition of all-in sustaining prices was printed by the World Gold Council (a market improvement group for the gold business comprised of and funded by gold mining corporations from all over the world, together with Barrick), it’s not a regulatory group, and different corporations could calculate this measure in a different way. Additional particulars together with an in depth reconciliation of this non-GAAP monetary measure to its most immediately comparable GAAP measure are included by reference and supplied on pages 60-72 of the MD&A accompanying Barrick’s second quarter 2023 monetary statements filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
11. “C1 money prices” per pound and “All-in sustaining prices” per pound are non-GAAP monetary measures. “C1 money prices” per pound is predicated on value of gross sales however excludes the impression of depreciation and royalties and manufacturing taxes and consists of therapy and refinement costs. “All-in sustaining prices” per pound begins with “C1 money prices” per pound and provides additional prices which mirror the extra prices of working a mine, primarily sustaining capital expenditures, sustaining leases, basic and administrative prices, minesite exploration and analysis prices, royalties and manufacturing taxes, reclamation value accretion and amortization and write-downs taken on stock to web realizable worth. Administration believes that the usage of “C1 money prices” per pound and “all-in sustaining prices” per pound will allow buyers to higher perceive the working efficiency of our copper mines as this measure displays all of the sustaining expenditures incurred to be able to produce copper. “C1 money prices” per pound and “All-in sustaining prices” per pound are supposed to supply extra data solely and don’t have standardized definitions underneath IFRS and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS. Different corporations could calculate these measures in a different way. Additional particulars together with an in depth reconciliation of this non-GAAP monetary measure to its most immediately comparable GAAP measure are included by reference and supplied on pages 72-73 of the MD&A accompanying Barrick’s second quarter 2023 monetary statements filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
12. These quantities are introduced on the identical foundation as our steerage. Minesite sustaining capital expenditures and venture capital expenditures are non-GAAP monetary measures. Capital expenditures are labeled into minesite sustaining capital expenditures or venture capital expenditures relying on the character of the expenditure. Minesite sustaining capital expenditures is the capital spending required to help present manufacturing ranges. Mission capital expenditures characterize the capital spending at new initiatives and main, discrete initiatives at present operations supposed to extend web current worth by means of larger manufacturing or longer mine life. Administration believes this to be a helpful indicator of the aim of capital expenditures and this distinction is an enter into the calculation of all-in sustaining prices per ounce and all-in prices per ounce. Classifying capital expenditures is meant to present extra data solely and doesn’t have any standardized definition underneath IFRS and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS. Different corporations could calculate these measures in a different way. Additional particulars together with an in depth reconciliation of this non-GAAP monetary measure to its most immediately comparable GAAP measure are included by reference and supplied on web page 59 of the MD&A accompanying Barrick’s second quarter 2023 monetary statements filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

Cautionary Assertion on Ahead-Wanting Data

Sure data contained or included by reference on this press launch, together with any data as to our technique, initiatives, plans or future monetary or working efficiency, constitutes “forward-looking statements”. All statements, apart from statements of historic truth, are forward-looking statements. The phrases “anticipate”, “goal”, “plan”, “alternatives”, “outlook”, “on observe”, “venture”, “proceed”, “development”, “potential”, “upside”, “future”, “ongoing”, “anticipated”, “scheduled”, “will”, “can”, “may”, and related expressions determine forward-looking statements. Specifically, this press launch incorporates forward-looking statements together with, with out limitation, with respect to: Barrick’s forward-looking manufacturing steerage, together with estimated 10- and 15-year manufacturing together with for Nevada Gold Mines, Reko Diq, the Lumwana Tremendous Pit and Porgera, and anticipated manufacturing development from Barrick’s natural venture pipeline and reserve alternative; estimates of future prices and projected future money flows, capital, working and exploration expenditures and mine life and manufacturing charges together with for the Fourmile venture, Lumwana Tremendous Pit, Reko Diq venture and Porgera mine; our skill to transform assets into reserves and exchange reserves web of depletion from manufacturing; mine life and manufacturing charges; our plans and anticipated completion and advantages of our development initiatives, together with the Fourmile venture, Lumwana Tremendous Pit, Reko Diq, the Pueblo Viejo plant growth and mine life extension venture and the restart of Porgera; the deliberate updating of the historic Reko Diq feasibility research and focused first manufacturing; the length of the non permanent suspension of operations at Porgera and the timeline to recommence operations; anticipated drilling and pre-feasibility research work at Porgera; Lumwana’s skill to additional lengthen its lifetime of mine by means of the event of a Tremendous Pit and focused completion of the pre-feasibility research and first manufacturing; Barrick’s international exploration technique and deliberate exploration actions, together with in North America, Latin America, Africa and the Center East, and Asia Pacific Areas; Barrick’s copper technique; our pipeline of excessive confidence initiatives at or close to present operations, together with potential new discoveries in Nevada; potential mineralization and metallic or mineral recoveries, together with near-mine exploration upside potential; joint ventures and partnerships; and expectations concerning future value assumptions, monetary efficiency and different outlook or steerage.

Ahead-looking statements are essentially based mostly upon plenty of estimates and assumptions together with materials estimates and assumptions associated to the elements set forth under that, whereas thought of cheap by the Firm as on the date of this press launch in mild of administration’s expertise and notion of present situations and anticipated developments, are inherently topic to vital enterprise, financial and aggressive uncertainties and contingencies. Identified and unknown elements may trigger precise outcomes to vary materially from these projected within the forward-looking statements and undue reliance shouldn’t be positioned on such statements and knowledge. Such elements embody, however usually are not restricted to: fluctuations within the spot and ahead value of gold, copper or sure different commodities (comparable to silver, diesel gas, pure fuel and electrical energy); dangers related to initiatives within the early phases of analysis and for which extra engineering and different evaluation is required; dangers associated to the chance that future exploration outcomes won’t be in keeping with the Firm’s expectations, that portions or grades of reserves shall be diminished, and that assets might not be transformed to reserves; dangers related to the truth that sure of the initiatives described on this press launch are nonetheless within the early phases and will not materialize; modifications in mineral manufacturing efficiency, exploitation and exploration successes; dangers that exploration knowledge could also be incomplete and appreciable extra work could also be required to finish additional analysis, together with however not restricted to drilling, engineering and socioeconomic research and funding; the speculative nature of mineral exploration and improvement; lack of certainty with respect to international authorized programs, corruption and different elements which can be inconsistent with the rule of legislation; modifications in nationwide and native authorities laws, taxation, controls or rules and/or modifications within the administration of legal guidelines, insurance policies and practices; the potential impression of proposed modifications to Chilean legislation on the standing of worth added tax refunds obtained in Chile in reference to the event of the Pascua-Lama venture; expropriation or nationalization of property and political or financial developments in Canada, the US or different international locations through which Barrick does or could keep on enterprise sooner or later; dangers regarding political instability in sure of the jurisdictions through which Barrick operates; timing of receipt of, or failure to adjust to, crucial permits and approvals together with the issuance of a File of Resolution for the Goldrush Mission and/or whether or not the Goldrush Mission shall be permitted to advance as at present designed underneath its Feasibility Research, the environmental license for the development and operation of the El Naranjo tailings storage facility for Pueblo Viejo, and allowing actions required to optimize Lengthy Canyon’s lifetime of mine; non-renewal of or failure to acquire key licenses by governmental authorities, together with the brand new particular mining lease for Porgera; failure to adjust to environmental and well being and security legal guidelines and rules; elevated prices and bodily and transition dangers associated to local weather change, together with excessive climate occasions, useful resource shortages, rising insurance policies and elevated rules regarding associated to greenhouse fuel emission ranges, power effectivity and reporting of dangers; contests over title to properties, notably title to undeveloped properties, or over entry to water, energy and different required infrastructure; the legal responsibility related to dangers and hazards within the mining business, and the flexibility to keep up insurance coverage to cowl such losses; injury to the Firm’s fame because of the precise or perceived incidence of any variety of occasions, together with adverse publicity with respect to the Firm’s dealing with of environmental issues or dealings with group teams, whether or not true or not; dangers associated to operations close to communities which will regard Barrick’s operations as being detrimental to them; litigation and authorized and administrative proceedings; working or technical difficulties in reference to mining or improvement actions, together with geotechnical challenges, tailings dam and storage amenities failures, and disruptions within the upkeep or provision of required infrastructure and knowledge expertise programs; elevated prices, delays, suspensions and technical challenges related to the development of capital initiatives; dangers related to working with companions in collectively managed belongings; dangers associated to disruption of provide routes which can trigger delays in development and mining actions, together with disruptions within the provide of key mining inputs because of the invasion of Ukraine by Russia; threat of loss as a result of acts of struggle, terrorism, sabotage and civil disturbances; dangers related to artisanal and unlawful mining; dangers related to Barrick’s infrastructure, data expertise programs and the implementation of Barrick’s technological initiatives, together with dangers associated to cyber-attacks, cybersecurity breaches, or related community or system disruptions; the impression of world liquidity and credit score availability on the timing of money flows and the values of belongings and liabilities based mostly on projected future money flows; the impression of inflation, together with international inflationary pressures pushed by provide chain disruptions brought on by the continuing Covid-19 pandemic, international power value will increase following the invasion of Ukraine by Russia and country-specific political and financial elements in Argentina; opposed modifications in our credit score rankings; fluctuations within the forex markets; modifications in U.S. greenback rates of interest; dangers arising from holding spinoff devices (comparable to credit score threat, market liquidity threat and mark-to-market threat); dangers associated to the calls for positioned on the Firm’s administration, the flexibility of administration to implement its enterprise technique and enhanced political threat in sure jurisdictions; uncertainty whether or not some or all of Barrick’s focused investments and initiatives will meet the Firm’s capital allocation goals and inner hurdle price; whether or not advantages anticipated from current transactions being realized; enterprise alternatives which may be introduced to, or pursued by, the Firm; our skill to efficiently combine acquisitions or full divestitures; dangers associated to competitors within the mining business; worker relations together with lack of key workers; availability and elevated prices related to mining inputs and labor; dangers related to illnesses, epidemics and pandemics, together with the results and potential results of the worldwide Covid-19 pandemic; dangers associated to the failure of inner controls; and dangers associated to the impairment of the Firm’s goodwill and belongings. Barrick additionally cautions that its 2023 steerage and 10- and 15-year manufacturing outlooks could also be impacted by the continuing enterprise and social disruption brought on by the unfold of Covid-19. As well as, there are dangers and hazards related to the enterprise of mineral exploration, improvement and mining, together with environmental hazards, industrial accidents, uncommon or surprising formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper focus losses (and the chance of insufficient insurance coverage, or incapability to acquire insurance coverage, to cowl these dangers).

Many of those uncertainties and contingencies can have an effect on our precise outcomes and will trigger precise outcomes to vary materially from these expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements usually are not ensures of future efficiency. All the forward-looking statements made on this press launch are certified by these cautionary statements. Particular reference is made to the latest Kind 40-F/Annual Data Kind on file with the SEC and Canadian provincial securities regulatory authorities for a extra detailed dialogue of a number of the elements underlying forward-looking statements and the dangers which will have an effect on Barrick’s skill to realize the expectations set forth within the forward-looking statements contained on this press launch.

We disclaim any intention or obligation to replace or revise any forward-looking statements whether or not on account of new data, future occasions or in any other case, besides as required by relevant legislation.