Kibali, Africa’S Largest and Greenest GOLD MINE, Continues to Deliver Growth
PRESS RELEASE
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All amounts expressed in US dollars
KIBALI, AFRICA’S LARGEST AND GREENEST GOLD MINE,
CONTINUES TO DELIVER GROWTH
Kinshasa, Democratic Republic of Congo , July 2, 2025 – Barrick Mining Corporation (NYSE:B)(TSX:ABX ) –
Drilling results from the ARK -KCD corridor continue to strengthen confidence in its scale and continuity,
demonstrating the potential to host significant additional orebodies and further extend the life of mine at Kibali,
Africa’s biggest and greenest gold mine.
Speaking at a media briefing in Kinshasa today, Barrick president and chief executive Mark Bristow said the work
on the ARK-KCD system is revealing a coherent geological structure — with mineralization expanding laterally and
down plunge — that could significantly grow Kibali’s reserve base within the existing footprint.
“Kibali was built with a long-term view and has consistently delivered across production, partnerships and reserve
growth. We’ve replaced every ounce we’ve mined and more since Kibali poured its first gold in 2013, and the ARK-
KCD corridor shows that there’s still much more to come,” he said.
Kibali continues to contribute meaningfully to the Congolese economy with in -country investment now surpassing
$6.3 billion, including $3.1 billion in payments to local contractors and partners. The mine remains the single biggest
economic contributor to the north eastern DRC, spanning the Haut-Uele and Ituri provinces.
The Kalimva, Ikamva and Ndala satellite pits are being mined under contracts with local businesses, reinforcing
Kibali’s strong commitment to developing local content. More than 700 Congolese companies are supported
through procurement and capacity -building initiatives and all tenders are published jointly by the m ine and the
DRC’s subcontracting regulator, ARSP, in line with best practice transparency.
“Kibali is more than a mine. It’s a partnership that anchors the regional economy. It’s Congolese -led, Congolese-
supplied and built to last. We’re proud of the model we’ve created here — one that delivers shared value every
step of the way,” Bristow said.
Ongoing operational improvements in the underground mine are expected to deliver material productivity gains
from the third quarter with a focus on long -term cost efficiency and performance optimization. Additionally, the
commissioning of the 16MW solar plant with an integrated Battery Energy Storage System (BESS) has been
completed, raising renewable energy use to 85% with the site operating on 100% renewable energy for six months
of the year.
“This is what the energy transition looks like in practice. It’s a benchmark not just for Africa but for the global mining
industry,” he said.
Biodiversity conservation also remains central to Barrick’s sustainability strategy. Working with the Congolese
Institute for Nature Conservation (ICCN) and African Parks (AP), preparatory work is underway to introduce an
additional 64 white rhinos into the Garamba National Park by the end of this year. This follows the successful
reintroduction of 16 rhinos in 2023 and forms part of a long -term partnership to restore and nurture biodiversity in
the region.
Leadership and capacity building continued through the Barrick Academy with 170 Kibali employees attending
training during the second quarter, delivering another tangible investment in the career advancement of Congolese
mining professionals.
BARRICK MINING CORPORATION PRESS RELEASE
On the community front, 41 out of 44 projects funded through the 0.3% community development f und have now
been completed, delivering essential infrastructure, education and healthcare support. At the same time, execution
of the Cahier des Charges is progressing well, with $4.8 million invested to date.
“Kibali is our blueprint for sustainable growth in the DRC. Built on a foundation that is technically sound, socially
rooted, and environmentally responsible, it reflects our long -term vision. The experience and lessons gained here
in one of the world’s toughest mining environments will guide us as we look to expand our in-country portfolio to
include not just more gold but also copper projects,” Bristow said.
Enquiries:
DRC country manager
Cyrille Mutombo
+243 812 532 441
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]
Website: www.barrick.com
BARRICK MINING CORPORATION PRESS RELEASE
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Certain information contained or incorporated by reference in this press release, including any information as to our strateg y, projects,
plans or future financial or operating performance, constitutes “forward -looking statements”. All statements, other th an statements of
historical fact, are forward -looking statements. The words, “expect”, “plan”, “opportunities”, “develop”, “project”, “progress”, “continue”,
“continued”, “deliver”, “position ed”, “additional”, “becoming”, “potential”, “prospective”, “focus”, “ongoing”, “working”, “will”, and similar
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limitation, with respect to: Barrick's forward-looking production guidance potential and anticipated production growth from Barrick’s organic
project pipeline and reserve replacement; Kibali’s per formance and delivery on its 2024 business plan; potential life of mine extensions
and the ability to extend Kibali’s Tier One status; Kibali’s potential to replace reserves net of depletion; Barrick’s exploration strategy and
growth opportunities at Kibali, including the potential for further discoveries; Barrick’s commitment to the Democratic Republic of Congo
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