Barrick Confirms Arrest of Four Malian Employees, Reaffirms Commitment to Resolution of Disputes
NEWS RELEASE
BARRICK CONFIRMS ARREST OF FOUR MALIAN EMPLOYEES,
REAFFIRMS COMMITMENT TO RESOLUTION OF DISPUTES
Toronto, November 26, 2024 – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that
four employees of its Loulo-Gounkoto mining complex had been charged and detained pending trial. While
Barrick refutes these charges, it said it would continue to engage with the Malian government to find an
amicable dispute settlement that would ensure the long-term sustainability of the complex.
President and chief executive Mark Bristow said that since September 30, the company had been actively
seeking to finalize a Memorandum of Agreement that would guide Barrick’s partnership with the government
in future, including the state’s share of the economic benefits generated by the complex and the legal
framework under which this would be managed.
“Our attempts to find a mutually acceptable resolution have so far been unsuccessful , but we remain
committed to engage with the government in order to resolve all the claims levied against the company and
its employees and secure the early release of our unjustly imprisoned colleagues,” he said.
Barrick enquiries
Investor and 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
Certain information contained or incorporated by reference in this press release, including any information as to our 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 “continue”, “intended”, “committed”, “engage”, “negotiate”, “pursue” and
similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements
including, without limitation, with respect to: the status of negotiations with the Government of Mali in respect of ongoing disputes
regarding the Loulo-Gounkoto Complex and Barrick’s commitment to reach a mutually acceptable solution; the potential to increase
the Government of Mali’s share in the economic benefits of Loulo-Gounkoto; and Loulo-Gounkoto’s partnership with the Government
of Mali.
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 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. Known and unknown factors could cause act ual
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: 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 Mali and other jurisdictions in which the Company or its affiliates do or may carry on
business in the future; fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as diesel fuel,
natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production
performance, exploitation, and exploration successes; risks related to disruption of supply routes which may cause delays in
construction and mining activities, including disruptions in the supply of key mining inputs due t o the invasion of Ukraine by Russia
and conflicts in the Middle East; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; risks associat ed with new
diseases, epidemics and pandemics; litigation and legal and administrative proceedi ngs; employee relations including loss of key
employees; increased costs and physical and transition risks related to climate change, including extreme weather events, res ource
shortages, emerging policies and increased regulations related to greenhouse gas emission levels, energy efficiency and reporting
of risks; and availability and increased costs associated with mining inputs and labor. 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 formations, 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 material ly 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 o n 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 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.