Barrick confirms the distribution amount per share for the


All amounts expressed in US dollars

TORONTO, June 10, 2021 (GLOBE NEWSWIRE) – Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) today confirmed that the per share amount of the first $ 250 million of a redemption distribution of capital totaling $ 750 million payable on June 15, 2021 will be $ 0.1405117, based on the number of issued and outstanding shares on the record date of May 28, 2021.

This follows shareholder approval at Barrick’s annual and special meeting on May 4, 2021, of the total distribution of $ 750 million in return of capital. The remaining distribution of $ 500 million is expected to be made in two equal installments to shareholders of record on dates to be determined in August and November 2021.

On June 15, 2021, Barrick will also pay a previously declared dividend of $ 0.09 per share for the first quarter of 2021 to shareholders of record as of the close of business on May 28, 2021.1.

“Our total shareholder return for 2021 is one of the highest in the industry and marks a further step in our journey towards our goal of building the world’s most valuable gold company,” said Graham Shuttleworth, vice-president. executive chairman and chief financial officer.

“Our strong balance sheet and cash flow, and our 10-year production outlook anchored by our Tier One2 gold assets, position us well to continue to create and deliver value to our investors and other stakeholders. “

Surveys

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

Senior Executive Vice President and Chief Financial Officer
Graham Shuttleworth
+1 647 262 2095
+44 779 771 1338

Investor and media relations
Catherine du Plessis
+44 20 7557 7738
Email: [email protected]

Website: www.barrick.com

Note 1
The declaration and payment of dividends is at the discretion of the board of directors and will depend on the financial results of the company, cash flow requirements, future prospects and other factors deemed relevant by the board.

Note 2
A level 1 gold asset is an asset with reserve potential to provide a minimum life of 10 years, annual production of at least 500,000 ounces of gold and total cash costs per ounce over the life of mine that fall in the lower half of the industry cost curve.

Caution regarding forward-looking information

Certain information contained or incorporated by reference in this press release, including any information regarding our strategy, projects, plans or future financial or operational performance, constitute “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “will”, “position”, “continue”, “expect”, “commit”, “objective” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements, including, without limitation, with respect to the expected amount and timing of Barrick’s capital redemption distribution, the expected delivery of significantly improved returns to shareholders. in 2021 through the return of capital distribution in combination with Barrick’s quarterly dividend and Barrick’s vision to build the world’s most valuable gold company and its ability to create and deliver value to its investors and other parties stakeholders.

Forward-looking statements are necessarily based on a number of estimates and assumptions, including significant estimates and assumptions relating to the factors set forth below, although believed to be reasonable by the Company as of the date of this press release. In light of management’s experience and perception of current conditions and expected developments are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in forward-looking statements, and such statements and information should not be relied on unduly. These factors include, but are not limited to: fluctuations in spot and futures prices for gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity) ; the speculative nature of mining exploration and development; changes in the performance of mineral production, mining and exploration successes; disruption of supply routes that could cause delays in construction and mining activities on properties furthest from Barrick; whether the expected benefits of recent transactions are realized; reduction in the quantities or contents of reserves; increasing costs, delays, suspensions and technical challenges associated with the construction of capital projects; operational or technical difficulties associated with operations or development activities, including geotechnical challenges and disruptions in the maintenance or provision of the required infrastructure and IT systems; failure to comply with environmental, health and safety laws and regulations; the time of receipt or failure to comply with the necessary authorizations and approvals; uncertainty as to whether some or all of the targeted investments and projects will meet the capital allocation objectives and the critical internal rate of return of the Company; the impact of global liquidity and credit availability on the timing of cash flows and the values ​​of assets and liabilities based on projected future cash flows; the impact of inflation; fluctuations in currency markets; changes in national and local laws, taxation, controls or regulations and / or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in Canada, the United States and other jurisdictions in which the Company or its affiliates do or may do business in the future; lack of certainty about foreign legal systems, corruption and other factors inconsistent with the rule of law; damage to the Company’s reputation as a result of the actual or perceived occurrence of a number of events, including negative publicity regarding the Company’s management of environmental issues or relations with community groups, whether true or not the possibility that future exploration results will not meet the Company’s expectations; the risks that exploration data is incomplete and that considerable additional work is required to conduct a more in-depth assessment, including, but not limited to, drilling, engineering, and socio-economic studies and investments; risk of loss through acts of war, terrorism, sabotage and civil unrest; the risks associated with illegal and artisanal mining; risks associated with new diseases, epidemics and pandemics, including the effects of the global Covid-19 pandemic; litigation and judicial and administrative proceedings; disputes over title to property, in particular title to undeveloped property, or access to water, electricity and other required infrastructure; business opportunities that may be presented to, or sought after, the Company; our ability to successfully integrate complete acquisitions or divestitures; risks associated with working with partners in jointly controlled assets; employee relations, including the loss of key employees; increasing costs and physical risks, including extreme weather events and resource shortages, associated with climate change; and the increased availability and costs associated with mining inputs and labor. In addition, there are risks and dangers associated with exploration, development and mining activities, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, collapses, floods and gold bullion, copper cathode or gold or copper concentrate. losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in forward-looking statements made by or on our behalf. Readers are cautioned that forward-looking statements are not guarantees of future performance. All forward-looking statements contained in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F / Annual Disclosure Form filed with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and risks that may affect Barrick’s ability to meet the expectations set forth in the forward-looking statements contained in this press release.

Barrick disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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