Barrick Closes Cerro Casale Acquisition

PRESS RELEASE – March 31, 2010 All amounts expressed in US dollars

Barrick Closes Cerro Casale Acquisition

Barrick Gold Corporation (NYSE: ABX) (TSX: ABX) announced today that its acquisition of an additional 25% interest in the Cerro Casale Project in Chile from Kinross Gold Corporation (“Kinross”), previously announced on February 18, 2010, has closed. Barrick now owns a 75% interest in and gains control of one of the world’s largest undeveloped gold-copper deposits.

Barrick acquired the additional 25% interest in the Cerro Casale Project for consideration of approximately $474 million comprised of $454 million cash and the elimination of a $20 million contingent obligation which was payable by Kinross to Barrick on a production decision. The cash portion of the consideration previously announced was adjusted on closing for working capital.

Barrick's vision is to be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner. For more information please visit www.barrick.com.

INVESTOR CONTACT: MEDIA CONTACT:

Deni Nicoski Vincent Borg Vice President, Executive Vice President, Investor Relations Corporate Communications Tel: (416) 307-7410 Tel: (416) 307-7477 Email: [email protected] Email: [email protected]

BARRICK GOLD CORPORATION 1 PRESS RELEASE