Barrick Gold Company – After 25 Years of Delivering Worth to Mali, Barrick Continues to Spend money on the Future

Fabrizio Guteres

All quantities expressed in US {Dollars}

Underground at the Loulo-Gounkoto complex

On the midway mark of the yr, the Loulo-Gounkoto advanced is on monitor to fulfill its manufacturing steerage for 2022, exchange annual reserve depletion to additional prolong its mine life, and keep its exemplary security file, with no misplaced time accidents or main environmental occasions through the previous quarter.

Loulo Gold Mine, Mali – Barrick Gold Company (NYSE:GOLD) (TSX:ABX) continues to put money into creating worth for all stakeholders and in supporting the communities that host its mines, president and chief government Mark Bristow mentioned right here at the moment.

Talking to media on the firm’s Loulo-Gounkoto advanced, Bristow famous the commissioning of the Gounkoto underground mine and the Gara West open pit, the persevering with substitute 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 happy with the very fact the Gara West pit is being mined for us by two Malian contractors we have now mentored,” he mentioned.

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

It continues to put money into sustainable financial neighborhood tasks, establishing a motel, a farm for Kenieba ladies and three water provide programs through the quarter. The Loulo agricultural faculty, designed as the inspiration of a sustainable regional agribusiness, has already educated 21 ladies and 143 males and created 30 farms.

For the reason that 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 presently benefitting from the advanced’s bursary program and Loulo-Gounkoto can 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 robust and mutually rewarding partnerships we have now solid 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 international locations,” Bristow mentioned.


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

E mail: [email protected]

Cautionary Assertion on Ahead-Wanting Info

Sure info contained or included by reference on this press launch, together with any info as to our technique, tasks, plans, or future monetary or working efficiency, constitutes “forward-looking statements”. All statements, aside from statements of historic truth, are forward-looking statements. The phrases “proceed”, “on monitor”, “keep”, “dedication”, “worth”, “steerage”, and comparable expressions establish forward-looking statements. Particularly, this press launch comprises forward-looking statements together with, with out limitation, with respect to: Loulo-Gounkoto’s manufacturing steerage and efficiency; Loulo-Gounkoto’s means to proceed to switch mineral reserves internet 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, training and growth applications.

Ahead-looking statements are essentially primarily based upon quite a few estimates and assumptions together with materials estimates and assumptions associated to the components 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. Recognized and unknown components 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 knowledge. Such components embody, however usually are not restricted to: fluctuations within the spot and ahead worth of gold, copper, or sure different commodities (corresponding 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 chance that future exploration outcomes is not going to be per the Firm’s expectations; dangers that exploration knowledge could also be incomplete and appreciable further 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 because of acts of battle, terrorism, sabotage and civil disturbances; dangers related to tasks within the early levels of analysis, and for which further 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, crucial 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 wherein the Firm or its associates do or might keep on enterprise sooner or later; injury to the Firm’s status as a result of precise or perceived prevalence of any variety of occasions, together with detrimental publicity with respect to the Firm’s dealing with of environmental issues or dealings with neighborhood teams, whether or not true or not; dangers related to new illnesses, epidemics and pandemics, together with the results 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 steerage could also be impacted by the unprecedented 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, 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 incapacity 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. The entire 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 Info Type on file with the SEC and Canadian provincial securities regulatory authorities for a extra detailed dialogue of a number of the components underlying forward-looking statements and the dangers that will have an effect on Barrick’s means 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 info, future occasions or in any other case, besides as required by relevant regulation.

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