After 25 Years of Delivering Worth to Mali, Barrick Continues to Put money into the Future

All quantities expressed in US {Dollars}

LOULO GOLD MINE, Mali, July 02, 2022 (GLOBE NEWSWIRE) — Barrick Gold Company (NYSE:GOLD) (TSX:ABX) continues to spend money on creating worth for all stakeholders and in supporting the communities that host its mines, president and chief government Mark Bristow mentioned right here right now.

Chatting with media on the firm’s Loulo-Gounkoto complicated, Bristow famous the commissioning of the Gounkoto underground mine and the Gara West open pit, the persevering with alternative of reserves, the extension of the solar energy plant and the additional strengthening of native partnerships as situations of the corporate’s long-term dedication to the nation.

“Within the first half of the yr we’ve contributed $337 million to the Malian economic system within the type of taxes, royalties, dividends, salaries and funds to native suppliers, taking the lifetime contribution of Barrick, beforehand Randgold, to $8.5 billion. We’re significantly pleased with the very fact the Gara West pit is being mined for us by two Malian contractors we’ve mentored,” he mentioned.

On the midway mark of the yr, the complicated is on observe to fulfill its manufacturing steering for 2022, exchange annual reserve depletion to additional prolong its mine life, and preserve its exemplary security file, with no misplaced time accidents or main environmental occasions through the previous quarter.

It continues to spend money on sustainable financial group initiatives, establishing a motel, a farm for Kenieba girls and three water provide programs through the quarter. The Loulo agricultural faculty, designed as the muse of a sustainable regional agribusiness, has already educated 21 girls and 143 males and created 30 farms.

Because the opening of the mine, Loulo-Gounkoto has constructed 20 colleges in its neighbouring villages, taking scholar enrolment from 500 to greater than 5,000. Seventy-eight of them are at the moment benefitting from the complicated’s bursary program and Loulo-Gounkoto can also be supporting academics’ salaries.

“First as Randgold and now as Barrick, we’ve been working in Mali for 25 years and we plan to be right here for at the very least as lengthy once more. The sturdy and mutually rewarding partnerships we’ve cast with the federal government, native enterprise companions and our host communities are the important thing to our success and an instance to Africa’s different mining nations,” Bristow mentioned.

Enquiries

President and CEO

Mark Bristow

+1 647 205 7694

+44 788 071 1386

Group Regional Supervisor, West Africa

Mahamadou Samaké

+223 66 75 61 36

Investor and Media Relations

Kathy du Plessis

+44 20 7557 7738

Electronic mail: barrick@dpapr.com

Web site: www.barrick.com

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, aside from statements of historic reality, are forward-looking statements. The phrases “proceed”, “on observe”, “preserve”, “dedication”, “worth”, “steering”, and comparable expressions determine forward-looking statements. Specifically, this press launch comprises forward-looking statements together with, with out limitation, with respect to: Loulo-Gounkoto’s manufacturing steering and efficiency; Loulo-Gounkoto’s skill to proceed to exchange mineral reserves web of depletion and prolong the mine life; Loulo-Gounkoto’s security efficiency; Barrick’s dedication to Mali and funding within the growth of native communities, together with to help native employment, schooling and growth applications.

Ahead-looking statements are essentially primarily based upon numerous estimates and assumptions together with materials estimates and assumptions associated to the elements set forth under that, whereas thought of affordable by the Firm as on the date of this press launch in mild of administration’s expertise and notion of present circumstances and anticipated developments, are inherently topic to important enterprise, financial, and aggressive uncertainties and contingencies. Identified and unknown elements might 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 data. Such elements embrace, however will not be restricted to: fluctuations within the spot and ahead worth of gold, copper, or sure different commodities (akin to silver, diesel gas, pure gasoline, and electrical energy); the speculative nature of mineral exploration and growth; adjustments in mineral manufacturing efficiency, exploitation, and exploration successes; the likelihood that future exploration outcomes is not going to be in keeping with the Firm’s expectations; dangers that exploration information 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; danger of loss on account of acts of struggle, terrorism, sabotage and civil disturbances; dangers related to initiatives within the early phases of analysis, and for which extra engineering and different evaluation is required; failure to adjust to environmental and well being and security legal guidelines and laws; timing of receipt of, or failure to adjust to, obligatory permits and approvals; adjustments in nationwide and native authorities laws, taxation, controls or laws and/ or adjustments within the administration of legal guidelines, insurance policies and practices, expropriation or nationalization of property and political or financial developments within the Mali and different jurisdictions during which the Firm or its associates do or could stick with it enterprise sooner or later; harm to the Firm’s status as a result of precise or perceived prevalence of any variety of occasions, together with damaging publicity with respect to the Firm’s dealing with of environmental issues or dealings with group teams, whether or not true or not; dangers related to new ailments, epidemics and pandemics, together with the consequences and potential results of the worldwide Covid-19 pandemic; litigation and authorized and administrative proceedings; worker relations together with lack of key workers; elevated prices and bodily dangers, together with excessive climate occasions and useful resource shortages, associated to local weather change; and availability and elevated prices related to mining inputs and labor. Barrick additionally cautions that its steering could also be impacted by the unprecedented enterprise and social disruption attributable to the unfold of Covid-19. As well as, there are dangers and hazards related to the enterprise of mineral exploration, growth and mining, together with environmental hazards, industrial accidents, uncommon or sudden formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper focus losses (and the chance of insufficient insurance coverage, or lack of ability 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 will not be 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 newest Kind 40-F/Annual Data Kind on file with the SEC and Canadian provincial securities regulatory authorities for a extra detailed dialogue of a few 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.

Barrick disclaims 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 regulation.