Barrick Agreement With Tanzania

“After constructive discussions with our Tanzanian partners, we have developed a framework for a modern 21st century partnership to ensure that Acacia`s activities generate lasting benefits and reciprocal prosperity for the Tanzanian people as well as the owners of Barrick and Acacia,” said John L. Thornton, Barrick`s Executive Chairman. Following today`s ceremony, Barrick and Tanzania will continue to work on implementing other aspects of the signed agreement. In particular, the gold miner plans to work with the University of Dar es Salaam and allocate up to US$10 million over a 10-year period for training and skills development in the mining sector. Since the acquisition of North Mara, Barrick has focused on improving the mine`s water management, with a particular focus on the basin warehouse. Jacobs said Barrick`s intervention ended 15 years of poor water management on the ground and ensured that environmental risks were properly included in the future, in line with the group`s standards of good practice. The following month, the Canadian gold miner signed a framework agreement with the Tanzanian government. Under the agreement, the company will pay US$300 million to the government to settle tax disputes with Acacia Mining. Many of these uncertainties and contingencies may affect our actual results and cause actual results to differ materially from those expressed or implied by us or on behalf of us in forward-looking statements. Readers are informed that forward-looking statements are not guarantees for future benefits.

All forward-looking statements contained in this press release are qualified by these warnings. In particular, the latest 40 F/annual disclosure form, which has been updated by the SEC and the province`s Canadian securities market regulators, is referred to in more detail to explain in more detail some of the factors underlying the forward-looking statements and risks that may affect Barrick`s ability to meet the expectations outlined in the forward-looking statements contained in this press release. Details of the nine agreements were not published at the time. Neither the President, Nor Mr. Bristow, nor the Minister of Foreign Affairs, Prof. Palamagamba Kabudi, spoke of the much-anticipated $300 million ($690 billion) of goodwill that Barrick would pay, which would have agreed to settle a dispute over a $1.2 billion ($2.76 trillion) tax bill that was paid to the company. Barrick said the agreement would also create an international dispute resolution framework for Africa. Certain information contained in this press release or included by reference, including all information about Barrick`s strategy, projects, plans or future financial or operational performance, constitutes “forward-looking statements.”