Barrick Announces Strategic Alliance and Additional Investment in Reunion Gold Corporation

NEWS RELEASE

NYSE : GOLD TSX : ABX

Barrick Announces Strategic Alliance and Additional

Investment in Reunion Gold Corporation

All amounts expressed in U.S. dollars unless otherwise indicated

TORONTO, February 4, 2019 — Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”)

announced today that it has entered into a Strategic Alliance Agreement (“SAA”) with Reunion Gold

Corporation (TSX-V:RGD) (“Reunion”) to form a 50 -50 alliance to jointly explore for, develop and mine

certain mineral projects in the Guiana Shield, including Guyana, Suriname, French Guiana and the North

and Northeast Regions of Brazil (the “Subject Area”).

Reunion will initially contribute to the Alliance the Waiamu, Aremu, Arawini and Oko Projects, all located in

Guyana. Barrick will initially fund an amount equal to $4.2 million on these projects, as credit for historical

exploration expenditures by Reunion, with subsequent funding to be on a 50:50 basis between Reunion

and Barrick.

As long as the Alliance remains in effect, if Reunion acquires an interest or an option to acquire an interest

in any mineral property in the Subject Area, Barrick will have 90 days to elect to include the new project in

the Alliance.

“The SAA expands Barrick’s exploration footprint in the Guiana Shield, a significantly underexplored region

and one of the most prospective in the world for large scale gold discoveries. The Alliance will seek to

identify and acquire properties that have the potential to yield discoveries consistent with Barrick’s definition

of Tier 1 mines, leveraging Reunion’s capabilities and proven track record in the region, combined with

Barrick’s experience at advancing and developing world -class assets,” says Barrick president and CEO

Mark Bristow.

Concurrent with the forma tion of the SAA, Barrick has amended and restated its subscription agreement

with Reunion dated December 13, 2018 in connection with a private placement offering by Reunion of up

to C$15,000,000. Pursuant to the Amended and Restated Subscription Agreement, Barrick has agreed to

acquire up to 35,700,000 common shares of Reunion at a price of C$0.15 per share. The aggregate

consideration to be paid by Barrick in the offering is up to C$5,355,000. The Reunion offering is expected

to close on or about February 6, 2019, subject to certain conditions including receipt of TSX Venture

acceptance of the private placement.

As a result of its additional investment, Barrick will own a total of up to 83,700,000 Reunion shares,

increasing its interest in Reunion from app roximately 15.0% to approximately 19.9% of Reunion's issued

and outstanding common shares, determined on a non -diluted basis after giving effect to the offering. In

connection with the entering into of the Alliance, Barrick will exercise its right under th e Investor Rights

Agreement between Barrick and Reunion dated December 1, 2017 to nominate one director to Reunion's

board of directors.

Under the terms of the Investor Rights Agreement entered into in connection with Barrick’s initial investment

in Reuni on on December 1, 2017, so long as Barrick holds more than 10% of the then issued and

outstanding shares of Reunion, Barrick will, among other things, have the right to participate in future equity

BARRICK GOLD CORPORATION NEWS RELEASE

financings by Reunion to maintain its proportionate interest at the time of such financing and will have the

right to assign one or more geologists to work full time on any or all of Reunion’s mineral projects.

Barrick and Reunion have amended the terms of the Investor Rights Agreement so that Barrick's right of

first refusal in connection with the sale by Reunion of any interest in an y of Reunion’s mineral projects is

now limited to a right of first refusal in connection with the sale by Reunion of the projects subject to the

Alliance as well as the Dorlin, Haute Mana and Boulanger projects. Barrick may exercise its right of first

refusal regardless of its ownership interest in Reunion's common shares.

An early warning report will be filed by Barrick in accordance with applicable securities laws. To obtain a

copy of the early warning report, please contact Kathy du Plessis, whose contact details are included below.

Reunion is an exploration and development company focused on acquiring, exploring and developing gold

projects in the highly prospective Guiana Shield of South America. Barrick holds its Reunion common

shares for investment purposes. Depending on market conditions and other factors, including Reunion’ s

business and financial condition, Barrick may, subject to the Investor Rights Agreement, acquire additional

common shares or other securities of Reunion or dispose of some or all of the common shares or other

securities of Reunion that it owns at such time.

Barrick is a senior gold mining company organized under the laws of the Province of British Columbia.

Barrick’s corporate office is located at Brookfield Place, TD Canada Trust Tower, Suite 3700, 161 Bay

Street, P.O. Box 212, Toronto, Ontario M5J 2S1. Reunion’s head office is located at Brookfield Place, Suite

440, 181 Bay Street, Toronto, Ontario M5J 2T3.

Enquiries:

President and CEO

Mark Bristow

+1 647 205 7694

+44 788 071 1386

Chief financial officer

Graham Shuttleworth

+44 1534 735 333

+44 779 771 1338

Investor & media relations

Kathy du Plessis

+44 20 7557 7738

Email: [email protected]

Website: www.barrick.com

BARRICK GOLD CORPORATION NEWS RELEASE

Cautionary Statement on Forward-Looking Information

The information in this news release has been prepared as at February 4, 2019. Certain information

contained in this news release, including any information relating to the Reunion offering constitutes

“forward-looking statements”. All statements, other than statements of historical fact, are forward -looking

statements. The words “may”, “will” and similar expressions identify forward -looking statements. In

particular, this news release contains forward-looking statements including, without limitation, with respect

to the anticipated completion of the offering by Reunion, acquisition of Reunion shares by Barrick in the

offering and Barrick’s acquisition or disposition of securities of Reunion in the future, and the potential

exploration, development and min ing of certain mineral projects by the Alliance. Forward -looking

statements are necessarily based upon a number of assumptions, including material assumptions

considered reasonable by Barrick as at the date of this news release in light of management’s experience

and perception of current conditions and expected developments, and are inherently subject to significant

business, economic, and competitive uncertainties and contingencies.

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 not to put undue reliance on forward -looking statements which are not

guarantees of future events, and speak only as of the date made. All of the forward -looking statements

made in this news 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.

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.