“North America is Barrick’s worth basis and the true advantages of our creation of the Nevada Gold Mines advanced are actually turning into evident within the type of mineral useful resource development and new discoveries. The standard and prospectivity of its portfolio can’t be overstated,” he stated.

“In Central America the plant enlargement venture we initiated on the Pueblo Viejo gold mine within the Dominican Republic is quickly taking form. With its unlocked reserve base now standing at 20 million ounces ² , the lifetime of the mine — one of many six Tier One ³ property in our gold portfolio — has been prolonged past 2040 and it’ll keep a mean annual manufacturing price above 800,000 ounces over that point ⁴ .

“One other of our Tier One property, the Loulo-Gounkoto advanced in Mali, which has produced greater than 9 million ounces of gold since 2005, is ready to keep up its present price of manufacturing for the subsequent 10 years, with its life extending to 2037 ⁵ .”

Bristow stated Barrick was additionally attaining its strategic goal of considerably increasing its copper holdings. Work on the reconstituted Reko Diq venture in Pakistan — one of many largest and highest high quality undeveloped copper-gold deposits on the earth — has began, and the revitalized Lumwana mine in Zambia has commenced a pre-feasibility examine on the Tremendous Pit enlargement. When each these initiatives are accomplished in 2028 they are going to elevate Barrick into the entrance rank of copper producers.

“Brownfields exploration continues to unlock potential round our present property whereas greenfields work has began delivering actual worth. We’re persevering with to develop our world exploration footprint with lively packages elsewhere in North America in addition to in Latin America, Saudi Arabia and Egypt,” he stated.

“One of many highlights of final 12 months was the continued development in our gold reserves and sources, pushed by our technique of investing in natural development by means of exploration and mineral useful resource administration. Barrick’s capacity over time to greater than exchange the ounces we mine reinforces our sustainability and our sector-leading manufacturing profile.”

Demonstrating its dedication to robust shareholder returns, Barrick returned a report $1.6 billion ⁶ to shareholders final 12 months however this was not on the expense of its development technique, Bristow stated.

“We proceed to put money into and roll out our 10-year gold and copper plans, projecting actual development on a gradual base-case manufacturing profile. This funding is made potential by the unrivaled high quality of our property and the plentiful free money circulation they generate. Additionally embedded in our portfolio is an extended pipeline of high quality initiatives from which we’re steadily unlocking worth. The flexibility to develop with out having to purchase is a really important benefit that differentiates Barrick from its friends,” he stated.

Bristow stated consistent with Barrick’s dedication to a “greatest individuals” workforce it was aggressively recruiting promising younger professionals throughout all of the related disciplines. The subsequent technology of leaders is already taking form within the firm’s succession plans and final 12 months already noticed seamless transitions in a variety of key positions.

It is usually quickly progressing the greening of its energy grid throughout the group. Main photo voltaic initiatives within the Dominican Republic and Nevada, the enlargement of the solar energy and battery vitality storage system at Loulo-Gounkoto and the deliberate solar energy dry season back-up for Kibali’s three hydropower crops is not going to solely considerably advance Barrick in the direction of its 2050 web zero goal however will enhance the mines’ margins by pruning vitality prices.

“Sustainability is key to Barrick’s enterprise. We imagine that local weather dangers, poverty and variety loss are inextricably linked and ought to be managed holistically. This method is predicated on our dedication to supporting the socio-economic improvement of our host nations and communities. Final 12 months alone we invested $35 million in neighborhood improvement initiatives,” he stated.

Additionally within the annual report, government chairman John Thornton famous the numerous contribution Barrick’s operations make within the growing nations wherein it operates.

“Mining can and ought to be a key catalyst for financial development and social upliftment. Barrick’s substantial contribution to our host nations’ coffers and our equally important funding within the welfare of the communities that border on our mines is making an actual distinction, highlighting the vital half the mining trade can play in narrowing the hole between the richer and poorer nations to make the world a greater place,” he stated.

Barrick’s 2022 Annual Report, Annual Data Type and Type 40-F are actually obtainable on SEDAR ( www.sedar.com ) and EDGAR ( www.sec.gov ), respectively. Up to date Nationwide Instrument 43-101 technical experiences for every of the Loulo-Gounkoto Gold Mine Complicated and the Pueblo Viejo Mine, present as of December 31, 2022, are additionally obtainable on SEDAR and EDGAR.

To entry the above-mentioned paperwork, please go to www.barrick.com . Shareholders might also obtain a duplicate of Barrick’s audited monetary statements with out cost upon request to Barrick’s Investor Relations Division, 161 Bay Road, Suite 3700, Toronto, Ontario, M5J 2S1 or to investor@barrick.com .

Enquiries

Web site: www.barrick.com

Endnotes

1. The merger of Barrick and Randgold accomplished on January 1, 2019.
2. On a 100% foundation. 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, except in any other case famous. Confirmed mineral reserves of 59 million tonnes grading 2.29g/t, representing 4.3 million ounces of gold. Possible mineral reserves of 230 million tonnes grading 2.16g/t, representing 16 million ounces of gold. 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. Full attributable mineral reserve and mineral useful resource information for all mines and initiatives referenced on this press launch, together with tonnes, grades, and ounces, may be discovered within the Mineral Reserves and Mineral Sources Tables offered on pages 37 to 46 of Barrick’s 2022 Annual Data Type and Type 40-F filed on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
3. A Tier One Gold Asset is an asset with a reserve potential to ship a minimal 10-year life, annual manufacturing of no less than 500,000 ounces of gold and whole money prices per ounce over the mine life which might be within the decrease half of the trade price curve.
4. On a 100% foundation. 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.
5. On a 100% foundation. Consult with the Technical Report on the Loulo-Gounkoto Gold Mine Complicated, Mali, dated March 17, 2023 and filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov on March 17, 2023.
6. By means of dividends and share buybacks.

Technical Data

The scientific and technical info contained on this press launch has been reviewed and authorized 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 Sources Supervisor: Africa and Center East; Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Useful resource Administration and Analysis Govt; and John Steele, CIM, Metallurgy, Engineering and Capital, every a “Certified Individual” 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.

Cautionary Assertion on Ahead-Wanting Data

Sure info contained or integrated by reference on this press launch, together with any info 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 “high-potential”, “develop”, “keep”, “develop”, “make investments”, “unlock”, “proceed”, “will”, “dedication”, “unlock worth”, “goal”, “contribution”, “catalyst”, “imagine” and related expressions establish forward-looking statements. Particularly, this press launch comprises forward-looking statements together with, with out limitation, with respect to: Barrick’s technique to put money into our 10-year gold and copper plans and development initiatives whereas funding exploration initiatives to develop its presence in new potential areas together with in North America, Latin America, Saudi Arabia and Egypt; Barrick’s world exploration technique and deliberate exploration actions; our capacity to transform sources into reserves and future reserve alternative; the anticipated advantages of the Pueblo Viejo plant enlargement and mine life extension venture together with the development of the brand new Naranjo tailings storage facility; the potential for the Reko Diq venture and proposed Tremendous Pit enlargement at Lumwana to considerably develop Barrick’s copper holdings; Barrick’s give attention to socioeconomic improvement in its host nations consistent with its sustainability imaginative and prescient; Barrick’s photo voltaic initiatives and greenhouse gasoline emissions discount targets; Barrick’s initiatives to extend workforce range consistent with its sustainability technique to create worth for all stakeholders; Barrick’s future plans, development potential, monetary power, investments and total technique; and expectations concerning future worth assumptions, monetary efficiency, shareholder returns and different outlook or steerage.

Ahead-looking statements are essentially based mostly upon a variety of estimates and assumptions together with materials estimates and assumptions associated to the elements set forth under that, whereas thought-about cheap 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 usually are not restricted to: fluctuations within the spot and ahead worth of gold, copper or sure different commodities (reminiscent of silver, diesel gas, pure gasoline 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 likelihood that future exploration outcomes is not going to be per the Firm’s expectations, that portions or grades of reserves can be diminished, and that sources is probably not 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; adjustments in mineral manufacturing efficiency, exploitation and exploration successes; 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; lack of certainty with respect to overseas authorized techniques, corruption and different elements which might be inconsistent with the rule of regulation; adjustments in nationwide and native authorities laws, taxation, controls or rules and/or adjustments within the administration of legal guidelines, insurance policies and practices; expropriation or nationalization of property and political or financial developments in Canada, the USA or different nations wherein Barrick does or might stick with it enterprise sooner or later; dangers regarding political instability in sure of the jurisdictions wherein Barrick operates; approval of the ultimate location of the extra TSF for Pueblo Viejo following submission of the ESIA within the Dominican Republic, non-renewal of key licenses by governmental authorities; failure to adjust to environmental and well being and security legal guidelines and rules; 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 trade, and the power to keep up insurance coverage to cowl such losses; elevated prices and bodily dangers, together with excessive climate occasions and useful resource shortages, associated to local weather change; harm to the Firm’s fame as a result of precise or perceived incidence of any variety of occasions, together with unfavorable publicity with respect to the Firm’s dealing with of environmental issues or dealings with neighborhood teams, whether or not true or not; 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 services failures, and disruptions within the upkeep or provision of required infrastructure and data know-how techniques; elevated prices, delays, suspensions and technical challenges related to the development of capital initiatives; dangers related to working with companions in collectively managed property; dangers associated to disruption of provide routes which can trigger delays in building and mining actions, together with disruptions within the provide of key mining inputs as a result of invasion of Ukraine by Russia; threat of loss resulting from acts of battle, terrorism, sabotage and civil disturbances; dangers related to artisanal and unlawful mining; dangers related to Barrick’s infrastructure, info know-how techniques and the implementation of Barrick’s technological initiatives; the impression of inflation, together with world inflationary pressures pushed by provide chain disruptions brought on by the continuing Covid-19 pandemic and world vitality price will increase following the invasion of Ukraine by Russia; the power 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 targets and inner hurdle price; worker relations together with lack of key workers; availability and elevated prices related to mining inputs and labor; and dangers related to ailments, epidemics and pandemics, together with the results and potential results of the worldwide Covid-19 pandemic. Barrick additionally cautions that its 2023 steerage could also be impacted by the continuing enterprise and social disruption brought on by the unfold of Covid-19.

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 newest Type 40-F/Annual Data Type 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 that will have an effect on Barrick’s capacity 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 because of new info, future occasions or in any other case, besides as required by relevant regulation.