Barrick Provides Further Update on Loulo-Gounkoto Operations in Mali
NEWS RELEASE
Barrick Provides Further Update on Loulo-Gounkoto
Operations in Mali
Toronto, January 14, 2025 – Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today confirmed that the
company remains restricted from shipping gold from the Loulo-Gounkoto mining complex in Mali. Additionally,
the interim attachment order on the gold has now been executed by the Malian government by moving the
existing gold stock from the site to a custodial bank, further preventing the shipment and sale of the gold.
As a result, Barrick has regrettably initiated the temporary suspension of operations while it continues to work
towards a resolution.
Barrick remains committed to constructive engagement with the Malian government and all stakeholders to
find an amicable solution that ensures the long-term sustainability of the Loulo-Gounkoto mining complex and
its vital contribution to Mali’s economy and communities.
Barrick enquiries
Investor and media relations
Kathy du Plessis
+44 20 7557 7738
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 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 limitatio n, 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 ongoi ng
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 thi s
press re lease 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 an d
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 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
proceedings; 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 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
BARRICK GOLD CORPORATION NEWS RELEASE
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.