Barrick Opposes Mali Government’s Attempt to Take Over the Day-to-Day Operations at Loulo-Gounkoto, Has Continued to Support the Workforce

PRESS RELEASE

NYSE : B TSX : ABX

Barrick Opposes Mali Government’s Attempt to Take Over

the Day-to-Day Operations at Loulo-Gounkoto, Has

Continued to Support the Workforce

Toronto, May 26, 2025 – Barrick Mining Corporation (NYSE:B)(TSX:ABX) – A ruling by the President of

the Bamako Commercial Tribunal following submissions made on May 22 by Barrick’s Loulo and

Gounkoto mines opposing the Malian government’s request to place the mining complex under

provisional administration, is expected on June 2.

On May 8, the government formally submitted its request to the court seeking to impose provisional

administration over the site. Barrick believes there is no basis — either in law or in practice — for the

day-to-day operations at Loulo-Gounkoto to be handed over to a court appointed interim administrator .

The move follows a preliminary hearing on May 15 during which the mines were granted the opportunity

to formally respond.

This latest escalation by the Malian government follows the continued unlawful detention of several

Barrick employees — now held for over five months — and the ongoing blockage of gold exports from

the complex. Despite the government’s actions, including the blocking of gold exports and the seizure of

stockpiled production, Barrick has maintained support for its employees and contractors. Since

operations were reluctantly suspended, the company has continued to pay wages and support the

operations on an ongoing monthly basis.

The attempt to interfere with Loulo-Gounkoto’s operations is without precedent or lawful justification. It

disregards Barrick’s rights under both Malian law and binding agreements, and it is inconsistent with the

principles of due process and mutual respect that should underpin partnerships between governments

and long-term investors.

As recently as last week, Barrick wrote to the Malian Minister of Economy and Finances to reiterate its

availability to resume discussions on the terms of a satisfactory agreement allowing for the release of its

detained employees and the resumption of activities in the interest of the employees, the country and all

stakeholders.

Barrick has operated in Mali for nearly three decades, building some of the country’s most successful

mining operations and contributing significantly to its economy and social development. It continues to

seek a fair and sustainable resolution to the existing dispute and has already initiated international

arbitration proceedings in accordance with the dispute resolution mechanism agreed upon in the Mining

Conventions. The company remains steadfast in its pursuit of justice for its unjustly detained employees

and in defending the integrity of its investment against actions that risk undermining the long-term viability

of the operations, stakeholder value or the legal framework underpinning its presence in the country.

BARRICK MINING CORPORATION PRESS RELEASE

Enquiries:

Investor and Media Relations

Kathy du Plessis

+44 20 7557 7738

Email: [email protected]

Website: www.barrick.com

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 t han 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 the gold

stock removed from site; the outcome of dispute resolution through arbitration; 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 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: changes in national and local government legisl ation, 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 developmen t; 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 to 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

associated 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, resource 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

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 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.