Barrick Completes Tongon Transaction All amounts expressed in U.S. dollars
Barrick Completes Tongon Transaction
All amounts expressed in U.S. dollars
Toronto, December 2, 2025 – Barrick Mining Corporation (NYSE:B)(TSX:ABX) (“Barrick” or the
“Company”) announced today that, further to its announcement on October 6, 2025, it has completed the
divestiture of its interests in the Tongon gold mine and certain of its exploration properties in Côte d’lvoire
to the Atlantic Group for total consideration of up to $305 million.
The consideration is composed of cash consideration of $192 million, inclusive of a $23 million
shareholder loan repayment within six months of closing, and contingent cash payments totalling up to
$113 million payable based on the price of gold over 2.5 years and resource conversions over 5 years.
About Barrick Mining Corporation
Barrick is a leading global mining, exploration and development company. With one of the largest
portfolios of world-class and long-life gold and copper assets in the industry—including six of the world’s
Tier One gold mines—Barrick’s operations and projects span 18 countries and five continents. Barrick is
also the largest gold producer in the United States. We create real, long-term value for all stakeholders
through responsible mining, strong partnerships and a disciplined approach to growth. Barrick shares
trade on the New York Stock Exchange under the symbol ‘B’ and on the Toronto Stock Exchange under
the symbol ‘ABX’.
Investor Relations Contact
Barrick Mining Corporation
Cleve Rueckert, +1 775 397 5443
Media Contact
Brunswick Group
Carole Cable, +44 (0) 7974 982 458
BARRICK MINING CORPORATION PRESS RELEASE
Cautionary Statement on Forward-Looking Information
Certain information contained in this press release constitutes “forward-looking statements”. All statements, other than
statements of historical fact, are forward- looking statements. The words “would”, “expected”, “will” and similar expressions
identify f orward-looking statements. In particular, this press release contains forward- looking statements including, without
limitation, with respect to the shareholder loan repayment and the contingent cash payment structure.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates
and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this pr ess
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. The estimates and assumptions
contained in this news release, which may prove to be incorrect, include, but are not limited to: (i) future gold prices; and (ii)
future production and resource conversion levels at Tongon. There can be no assurance that forward- looking statements will
prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements,
including the risk that the sale transaction will not be completed for any reason. Forward-looking statements are provided for the
purpose of providing information about management’s expectations and plans relating to the future. All of the forward-looking
statements made in this press release are qualified by these cautionary statements and those made in Barrick’s most recent
Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities which contain
a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s
ability to achieve 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.