Barrick Provides Update on Discussions with Government of Tanzania
BARRICK GOLD CORPORATION PRESS RELEASE
PRESS RELEASE — June 24, 2018
Barrick Provides Update on Discussions with Government
of Tanzania
TORONTO — Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick” or the “Company”) today
provided an update on ongoing discussions with the Government of Tanzania concerning the
proposed framework for Acacia Mining plc’s (“Acacia”) operations in Tanzania.
Discussions between the Government of Tanzania and Barrick are constructive. Progress has been
made on the drafting of definitive agreements necessary for the implementation of the proposed
framework.
In order to allow the process to continue in an orderly manner and without an arbitrary deadline,
Barrick is not providing a timetable for the completion of the discussions at this time. If Barrick is able
to conclude discussions satisfactorily with the Government, the proposal will be provided to the
Independent Committee of the Acacia Board of Directors for its consideration.
Barrick holds a 63.9 percent equity interest in Acacia, a publicly traded company listed on the London
Stock Exchange that is operated independently of Barrick.
INVESTOR CONTACT MEDIA CONTACT
Deni Nicoski
Senior Vice President
Investor Relations
Telephone: +1 416 307-7474
Email: [email protected]
Andy Lloyd
Senior Vice President
Communications
Telephone: +1 416 307-7414
Email: [email protected]
BARRICK GOLD CORPORATION PRESS RELEASE
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information contained in this press release, including any information as to Barrick’s strategy,
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
“would”, “if”, “will” and similar expressions identify forward-looking statements. In particular, this
press release contains forward-looking statements including, without limitation, with respect to
Barrick’s expectations regarding the potential benefits resulting from a new partnership between
Acacia and the Government of Tanzania; the ultimate terms and timeline for completion of any
definitive agreement between Acacia and the Government of Tanzania to resolve the dispute relating
to the imposition of the concentrate export ban and allegations by the Government of Tanzania that
Acacia under-declared the metal content of concentrate exports from Tanzania; and whether Acacia
will approve the terms of any final agreement reached between Barrick and the Government of
Tanzania with respect to this dispute. 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 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 Tanzania; lack of certainty with respect to foreign legal systems, corruption, and
other factors that are inconsistent with the rule of law; risk of loss due to acts of war, terrorism,
sabotage and civil disturbances; fluctuations in the spot and forward price of gold, copper, or certain
other commodities (such as silver, diesel fuel, natural gas, and electricity); timing of receipt of, or
failure to comply with, necessary permits and approvals; failure to comply with environmental and
health and safety laws and regulations; litigation; damage to the Company’s reputation due to the
actual or perceived occurrence of any number of events, including negative publicity with respect to
the Company’s handling of environmental matters or dealings with community groups, whether true
or not; the speculative nature of mineral exploration and development; changes in mineral
production performance, exploitation, and exploration successes; diminishing quantities or grades of
reserves; increased costs, delays, suspensions, and technical challenges associated with the
construction of capital projects; operating or technical difficulties in connection with mining or
development activities, including geotechnical challenges, and disruptions in the maintenance or
provision of required infrastructure and information technology systems; the impact of global liquidity
and credit availability on the timing of cash flows and the values of assets and liabilities based on
projected future cash flows; the impact of inflation; fluctuations in the currency markets; contests
over title to properties, particularly title to undeveloped properties, or over access to water, power,
and other required infrastructure; employee relations including loss of key employees; increased costs
and physical risks, including extreme weather events and resource shortages, related to climate
change; 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
BARRICK GOLD CORPORATION PRESS RELEASE
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.
The Company 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.