Barrick and Tanzanian Government Progress Discussions in Settlement of Acacia Disputes

PRESS RELEASE

NYSE : GOLD TSX : ABX

Barrick and Tanzanian Government Progress

Discussions in Settlement of Acacia Disputes

All amounts expressed in U.S. dollars

TORONTO — February 20, 2019 — Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the

“Company”) today announced that the Company, in its capacity as a facilitator, and the Government of

Tanzania have arrived at a proposal that sets forth the commercial terms to resolve outstanding disputes

concerning Acacia Mining plc’s operations in Tanzania.

The Company will present this proposal to the Independent Directors of Acacia in the near future for their

consideration.

The proposed framework is consistent with the agreement announced in October 2017 and includes the

following elements:

• The creation of a local operating company to manage Acacia’s operations in the country.

• Economic benefits from Acacia’s operations to be shared on a 50/50 basis. The Government’s

share of economic benefits would be in the form of royalties, taxes and a 16 percent free carry

interest in the Tanzanian operations.

• A payment of $300 million to the Government of Tanzania to resolve outstanding tax claims, to be

paid over time on terms to be settled by the parties.

Mark Bristow, President and CEO of Barrick, said: “Significant amounts of real value have been destroyed

by this dispute and, in Barrick`s view, this proposal will allow the business to focus on rebuilding its mining

operations in partnership with their respective stakeholders, and most importantly long suffering

investors, including Barrick.”

Work is underway to finalize the definitive agreements needed to give effect to the proposal. To become

effective, the proposal and those agreements must be approved by Acacia and the Government of

Tanzania, in keeping with applicable laws and regulations. Barrick holds a 63.9 percent equity interest in

Acacia, a publicly traded company listed on the London Stock Exchange that is operated independently of

Barrick.

Barrick Enquiries:

President and CEO

Mark Bristow

+1 647 205 7694

+44 788 071 1386

Senior Executive Vice-President

and Chief Financial Officer

Graham Shuttleworth

+44 1534 735 333

+44 779 771 1338

Investor and Media Relations

Kathy du Plessis

+44 20 7557 7738

Email: [email protected]

Website: www.barrick.com

BARRICK GOLD CORPORATION PRESS RELEASE

Cautionary Statement on Forward-Looking Information

Certain information contained or incorporated by reference in this press release, including any information as to Barrick’s

strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements,

other than statements of historical fact, are forward -looking statements. The words “view”, “will”, “future”, and similar

expressions identify forward -looking statements. In particular, this press release contains forward -looking statements

including, without limitation, with respect to a proposal of commercial terms facilitated by Barrick to resolve outstanding

disputes between Acacia and the Government of Tanzania.

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 the Company as at 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 the forward -looking statements, and undue

reliance should not be placed on such statements and information. Such factors include, but are not limited to: whether the

Independent Directors of Acacia will approve the propos al of commercial terms presented to them for the resolution of the

dispute between Acacia and the Government of Tanzania; the ultimate terms of any definitive agreement between Acacia and

the Government of Tanzania to resolve a dispute relating to the impo sition of the concentrate export ban and allegations by

the Government of Tanzania that Acacia under-declared the metal content of concentrate exports from Tanzania; the status

of certain tax reassessments by the Tanzanian government; the manner in which a mendments to the 2010 Mining Act

(Tanzania) increasing the royalty rate applicable to metallic minerals such as gold, copper and silver to 6% (from 4%), the new

Finance Act (Tanzania) imposing a 1% clearing fee on the value of all minerals exported from Tanzania from July 1, 2017 and

the new Mining Regulations announced by the Government of Tanzania in January 2018 will be implemented and the impact

of these and other legislative changes on Acacia; whether definitive agreements with respect to the dispute b etween Acacia

and the Government of Tanzania will be successfully finalized and whether Acacia and the Government of Tanzania will

approve the terms of any such final agreements; the duration of the Tanzanian ban on mineral concentrate exports; timing of

receipt of, or failure to comply with, necessary permits and approvals; changes in national and local government legislation,

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, Tanzania, and other

jurisdictions in which the Company or its affiliates do or may carry on business in the future; lack of certainty with respec t to

foreign legal syste ms, corruption and other factors that are inconsistent with the rule of law; litigation and legal and

administrative proceedings; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as

silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in

mineral production performance, exploitation, and exploration successes; diminishing quantities or grades of reserves;

increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; operating

or technical difficulties in connection with mining or development activities, including geotechnical challenges and disruptions

in the maintenance or provision of requi red infrastructure and information technology systems; failure to comply with

environmental and health and safety laws and regulations; 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; adverse changes in our credit ratings;

the impact of inflation; fluctuations in the currency markets; changes in U.S. dollar interest rates; risks arising from hold ing

derivative instruments; damage to the Company’ s reputation due to the actual or perceived occurrence of any number of

events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with

community groups, whether true or not; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; contests

over title to properties, particularly title to undeveloped properties, or over access to water, power and other required

infrastructure; employee relations including loss of key employees; increas ed costs and physical risks, including extreme

weather events and resource shortages, related to climate change; availability and increased costs associated with mining

inputs and labor; and the organization of our previously held African gold operations and properties under Acacia as a separate

listed Company. In addition, there are risks and hazards associated with the business of mineral exploration, development

and mining, including environmental hazards, industrial accidents, unusual or unexpected form ations, pressures, cave -ins,

flooding 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 any forward-looking statements made by, or on behalf of, us. Readers are cautioned that

forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press

release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40 - F/Annual

Information Form on file with the SEC and Canadian provincial securities regulatory authorities for 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 Gold Corporation 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.