Option to Acquire Residual 49% of Comet Vale and Acquisition of Vivien Gold Project

The common market value for gold in Q2 was $2,338 per ounce whereas the typical market value for copper in Q2 was $4.42 per pound.

Preliminary Q2 gold manufacturing was increased than Q1, because of elevated manufacturing at Turquoise Ridge, following the finished upkeep on the Sage autoclave in Q1, continued profitable ramp up at Porgera and vital will increase at Tongon, North Mara and Kibali. These will increase have been partially offset by deliberate decrease manufacturing at Cortez and Phoenix. Pueblo Viejo manufacturing was flat sequentially as throughput is ramped up with a shift to restoration charge optimization in H2 2024. In comparison with Q1, Q2 gold price of gross sales per ounce ¹ and complete money prices per ounce ² are each anticipated to be 0 to 2% increased. Absent the rise within the gold value in Q2, and consequential improve in royalties, complete money prices per ounce ² would have been decrease in comparison with Q1. All-in sustaining prices per ounce ² are anticipated to be 1 to three% increased. Prices are anticipated to drop within the second half of the 12 months as manufacturing ramps up.

Preliminary Q2 copper manufacturing was increased than Q1, pushed primarily by increased grades and recoveries at Lumwana following the ramp up in stripping actions in Q1 in addition to the deliberate shutdown in Q1. In comparison with Q1 2024, Q2 copper price of gross sales per pound ¹ is predicted to be 4 to six% decrease, C1 money prices per pound ² are anticipated to be 8 to 10% decrease, whereas all-in sustaining prices per pound ² are anticipated to be 1 to three% increased primarily as a consequence of elevated waste stripping at Lumwana. Prices are anticipated to drop within the second half of the 12 months as manufacturing ramps up.

Barrick will present extra dialogue and evaluation concerning its second quarter 2024 manufacturing and gross sales when the Firm studies its quarterly outcomes earlier than North American markets open on August 12, 2024.

The next desk consists of preliminary gold and copper manufacturing and gross sales outcomes from Barrick’s operations:

Second Quarter 2024 Outcomes

Barrick will launch its Q2 2024 outcomes earlier than market open on August 12, 2024. President and CEO Mark Bristow will host a stay presentation of the outcomes that day at 11:00 EDT, with an interactive webinar linked to a convention name. Members will be capable to ask questions.

Go to the webinar
US and Canada (toll-free) 1 844 763 8274
UK (toll) +44 20 3795 9972
Worldwide (toll) +1 647 484 8814

The Q2 2024 presentation supplies will probably be accessible on Barrick’s web site at www.barrick.com .

The webinar will stay on the web site for later viewing, and the convention name will probably be accessible for replay by phone at 1 855 669 9658 (US and Canada toll-free) and +1 412 317 0088 (worldwide toll), entry code 0796#.

Enquiries:

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
barrick@dpapr.com

Web site : www.barrick.com

Technical Data

The scientific and technical info contained on this information launch has been reviewed and accredited by: Craig Fiddes, SME-RM, Lead, Useful resource Modeling, Nevada Gold Mines; Simon Bottoms, CGeol, MGeol, FGS, FAusIMM, Mineral Useful resource Administration and Analysis Govt (on this capability, Mr. Bottoms is accountable on an interim foundation for scientific and technical info referring to the Latin America and Asia Pacific area); and Richard Peattie, MPhil, FAusIMM, Mineral Assets Supervisor: Africa and Center East — every a “Certified Individual” as outlined in Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Tasks .

Endnote 1

Gold price of gross sales per ounce is calculated as price of gross sales throughout our gold operations (excluding websites in care and upkeep) divided by ounces bought (each on an attributable foundation based mostly on Barrick’s possession share). Copper price of gross sales per pound is calculated as price of gross sales throughout our copper operations divided by kilos bought (each on an attributable foundation based mostly on Barrick’s possession share).

References to attributable foundation means our 100% share of Hemlo and Lumwana, our 89.7% share of Tongon, our 84% share of North Mara and Bulyanhulu, our 80% share of Loulo-Gounkoto, our 61.5% share of Nevada Gold Mines, our 60% share of Pueblo Viejo, our 50% share of Veladero, Zaldívar and Jabal Sayid, our 24.5% share of Porgera and our 45% share of Kibali.

Endnote 2

Complete money prices per ounce and all-in sustaining prices per ounce are non-GAAP monetary measures that are calculated based mostly on the definition revealed by the World Gold Council (“WGC”) (a market growth group for the gold trade comprised of and funded by gold mining firms from all over the world, together with Barrick). The WGC isn’t a regulatory group. Administration makes use of these measures to watch the efficiency of our gold mining operations and its capability to generate constructive money stream, each on a person web site foundation and an total firm foundation.

Complete money prices begin with our price of gross sales associated to gold manufacturing and removes depreciation, the non-controlling curiosity of price of gross sales and consists of by-product credit. All-in sustaining prices begin with complete money prices and embody sustaining capital expenditures, sustaining leases, common and administrative prices, minesite exploration and analysis prices and reclamation price accretion and amortization. These extra prices mirror the expenditures made to keep up present manufacturing ranges.

We consider that our use of complete money prices and all-in sustaining prices will help analysts, buyers and different stakeholders of Barrick in understanding the prices related to producing gold, understanding the economics of gold mining, assessing our working efficiency and likewise our capability to generate free money stream from present operations and to generate free money stream on an total firm foundation. Because of the capital-intensive nature of the trade and the lengthy helpful lives over which these things are depreciated, there could be a vital timing distinction between web earnings calculated in accordance with IFRS and the quantity of free money stream that’s being generated by a mine and subsequently we consider these measures are helpful non-GAAP working metrics and complement our IFRS disclosures. These measures are usually not consultant of all of our money expenditures as they don’t embody earnings tax funds, curiosity prices or dividend funds. These measures don’t embody depreciation or amortization.

Complete money prices per ounce and all-in sustaining prices per ounce are supposed to supply extra info solely and wouldn’t have standardized definitions underneath IFRS and shouldn’t be thought of in isolation or as an alternative to measures of efficiency ready in accordance with IFRS. These measures are usually not equal to web earnings or money stream from operations as decided underneath IFRS. Though the WGC has revealed a standardized definition, different firms could calculate these measures otherwise.

C1 money prices per pound and all-in sustaining prices per pound are non-GAAP monetary measures associated to our copper mine operations. We consider that C1 money prices per pound allows buyers to raised perceive the efficiency of our copper operations compared to different copper producers who current outcomes on an analogous foundation. C1 money prices per pound excludes royalties and manufacturing taxes and non-routine costs as they aren’t direct manufacturing prices. All-in sustaining prices per pound is just like the gold all-in sustaining prices metric and administration makes use of this to raised consider the prices of copper manufacturing. We consider this measure allows buyers to raised perceive the working efficiency of our copper mines as this measure displays the entire sustaining expenditures incurred with a purpose to produce copper. All-in sustaining prices per pound consists of C1 money prices, sustaining capital expenditures, sustaining leases, common and administrative prices, minesite exploration and analysis prices, royalties and manufacturing taxes, reclamation price accretion and amortization and write-downs taken on stock to web realizable worth.

Barrick will present a full reconciliation of those non-GAAP monetary measures when the Firm studies its quarterly outcomes on August 12, 2024.

Cautionary Statements Concerning Preliminary Second Quarter Manufacturing, Gross sales and Prices for 2024, and Ahead-Trying Data

Barrick cautions that, whether or not or not expressly acknowledged, all second quarter figures contained on this press launch together with, with out limitation, manufacturing ranges, gross sales and related prices are preliminary, and mirror our anticipated second quarter outcomes as of the date of this press launch. Precise reported second quarter manufacturing ranges, gross sales and related prices are topic to administration’s ultimate assessment, in addition to assessment by the Firm’s unbiased accounting agency, and should range considerably from these expectations due to plenty of elements, together with, with out limitation, extra or revised info, and modifications in accounting requirements or insurance policies, or in how these requirements are utilized. Barrick will present extra dialogue and evaluation and different essential details about its second quarter manufacturing ranges, gross sales and related prices when it studies precise outcomes on August 12, 2024. For an entire image of the Firm’s monetary efficiency, will probably be essential to assessment the entire info within the Firm’s second quarter monetary report and associated MD&A. Accordingly, readers are cautioned to not rely solely on the data contained herein.

Lastly, Barrick cautions that this press launch accommodates forward-looking statements with respect to: (i) Barrick’s manufacturing and full 12 months gold and copper steerage; and (ii) prices per ounce for gold and per pound for copper.

Ahead-looking statements are essentially based mostly upon plenty of 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 situations and anticipated developments, are inherently topic to vital enterprise, financial, and aggressive uncertainties and contingencies. Identified or unknown elements may 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 elements embody, however are usually not restricted to: fluctuations within the spot and ahead value of gold, copper, or sure different commodities (similar to silver, diesel gas, pure fuel, and electrical energy); the speculative nature of mineral exploration and growth; modifications in mineral manufacturing efficiency, exploitation, and exploration successes; the resumption of operations on the Porgera mine and anticipated ramp up of mining and processing in 2024; dangers related to initiatives within the early levels of analysis, and for which extra engineering and different evaluation is required; disruption of provide routes which can trigger delays in development and mining actions, together with disruptions within the provide of key mining inputs as a result of invasion of Ukraine by Russia and conflicts within the Center East; whether or not advantages anticipated from current transactions are realized; portions or grades of reserves will probably be diminished, and that sources might not be transformed to reserves; elevated prices, delays, suspensions and technical challenges related to the development of capital initiatives; working or technical difficulties in reference to mining or growth actions, together with geotechnical challenges, tailings dam and storage services failures, and disruptions within the upkeep or provision of required infrastructure and knowledge expertise techniques; dangers that exploration knowledge 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; failure to adjust to environmental and well being and security legal guidelines and laws; elevated prices and bodily dangers, together with excessive climate occasions and useful resource shortages, associated to local weather change; timing of, receipt of, or failure to adjust to, needed permits and approvals; non-renewal of key licenses by governmental authorities; uncertainty whether or not some or all of focused investments and initiatives will meet the Firm’s capital allocation targets and inside hurdle charge; the affect of inflation, together with international inflationary pressures pushed by provide chain disruptions, international vitality price will increase following the invasion of Ukraine by Russia and country-specific political and financial elements in Argentina; the affect of world liquidity and credit score availability on the timing of money flows and the values of property and liabilities based mostly on projected future money flows; fluctuations within the foreign money markets; modifications in nationwide and native authorities laws, taxation, controls or laws and/or modifications within the administration of legal guidelines, insurance policies and practices; expropriation or nationalization of property and political or financial developments in Canada, the US, and different jurisdictions during which the Firm or its associates do or could keep on enterprise sooner or later; lack of certainty with respect to overseas authorized techniques, corruption and different elements which are inconsistent with the rule of regulation; harm to the Firm’s popularity as a result of precise or perceived incidence of any variety of occasions, together with damaging publicity with respect to the Firm’s dealing with of environmental issues or dealings with neighborhood teams, whether or not true or not; the likelihood that future exploration outcomes won’t be per the Firm’s expectations; threat of loss as a consequence of acts of warfare, terrorism, sabotage and civil disturbances; dangers related to artisanal and unlawful mining; dangers related to illnesses, epidemics and pandemics, together with the results and potential results of the worldwide Covid-19 pandemic; litigation and authorized and administrative proceedings; contests over title to properties, notably title to undeveloped properties, or over entry to water, energy and different required infrastructure; enterprise alternatives that could be introduced to, or pursued by, the Firm; our capability to efficiently combine acquisitions or full divestitures; dangers related to working with companions in collectively managed property; worker relations together with lack of key staff; and availability and elevated prices related to mining inputs and labor. 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 surprising 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 are usually 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 latest 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 capability 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 because of new info, future occasions or in any other case, besides as required by relevant regulation.