Barrick Reports Preliminary First Quarter Production Results
PRESS RELEASE
NYSE : GOLD TSX : ABX
Barrick Reports Preliminary First Quarter Production
Results
All amounts expressed in U.S. dollars
Toronto, April 18, 2019 — In a positive start to the year, Barrick Gold Corporation
(NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) announced today it had made good progress in
achieving its short-term goals as well as its full-year objectives during the first quarter.
After setting a production record at the Kibali mine in 2018, the Company announced that the operation is
on track for another record performance in 2019. Barrick is also rapidly progressing the implementation of
the joint venture agreement signed with Newmont in March, which will create the world’s single-largest gold
producer and allow both partners to realize the enormous potential of Nevada’s mineral endowment.
Reflecting a solid operating performance across its portfolio, Barrick announced preliminary first quarter
sales of 1.37 million ounces of gold and 103 million pounds of copper, as well as prelimina ry first quarter
production of 1.37 million ounces of gold and 106 million pounds of copper —in line with the Company’s
operating plans and guidance. The average market price for gold in the first quarter was $1,304 per ounce,
while the average market price for copper in the first quarter was $2.82 per pound.
Barrick will provide additional discussion and analysis regarding first quarter production and sales when the
Company reports quarterly results before North American markets open on May 8, 2019, followed by a live
presentation by President and CEO Mark Bristow at 11:00 EDT, linked to a conference call and webcast.
BARRICK GOLD CORPORATION PRESS RELEASE
The following table includes preliminary gold and copper production and sales results from our operations:
Three months ended March 31, 2019
Production Sales
Gold (equity ounces (000s))
Cortez 262 259
Goldstrike1 233 239
Turquoise Ridge (75%) 77 76
Barrick Nevada 572 574
Pueblo Viejo (60%) 148 142
Loulo-Gounkoto (80%) 128 128
Kibali (45%) 93 90
Veladero (50%) 70 68
Acacia (63.9%) 67 67
Porgera (47.5%) 66 65
Tongon (89.7%) 61 61
Hemlo 55 58
Kalgoorlie (50%) 55 58
Lagunas Norte 35 37
Morila (40%) 10 10
Golden Sunlight 7 7
Total Gold 1,367 1,365
Copper (equity pounds (millions))
Lumwana 61 61
Zaldívar (50%) 28 28
Jabal Sayid (50%) 17 14
Total Copper 106 103
Enquiries:
Investor & Media Relations
Kathy du Plessis
Tel/mobile: +44 20 7557 7738
Senior Vice-President, Investor Relations
Deni Nicoski
Tel +1 416 307-7410
Website: www.barrick.com
BARRICK GOLD CORPORATION PRESS RELEASE
Technical Information
The scientific and technical information contained in this press release has been reviewed and approved
by: Steven Yopps, MMSA, Barrick’s Director - Metallurgy, North America; Chad Yuhasz, P.Geo, Barrick’s
Mineral Resource Manager, Latin America and Australia Pacific; and S imon Bottoms, CGeol, Barrick's
Mineral Resources Manager , Africa and Middle East —each a “Qualified Person” as defined in National
Instrument 43-101 - Standards of Disclosure for Mineral Projects.
First Quarter 2019 Results
Barrick will release its First Quarter 2019 Results before markets open on May 8, 2019, followed by a live
presentation by President and CEO Mark Bristow at 11:00 EDT, linked to a conference call and webcast.
U.S. and Canada, 1-800-319-4610
UK, 0808 101 2791
International, +1 416 915-3239
Webcast
If you wish to attend the presentation in Toronto, please contact Deni Nicoski at [email protected]. The
Q1 2019 presentation materials will be available on Barrick’s website at www.barrick.com.
The webcast will remain on the website for later viewing, and the conference call will be available for replay
by telephone at 1 -855-669-9658 (U.S. and Canada) and +1 604 674 -8052 (international), access code
3107.
Endnote 1
Includes our 60% equity share of South Arturo.
Cautionary Statements Regarding Preliminary First Quarter Producti on and Sales for 2019, and
Forward-Looking Information
Barrick cautions that, whether or not expressly stated, all first quarter figures contained in this press release
including, without limitation, production levels and sales are preliminary, and reflec t our expected first
quarter results as of the date of this press release. Actual reported first quarter production levels and sales
are subject to management’s final review, as well as review by the Company’s independent accounting
firm, and may vary significantly from those expectations because of a number of factors, including, without
limitation, additional or revised information, and changes in accounting standards or policies, or in how
those standards are applied. Barrick will provide additional disc ussion and analysis and other important
information about its first quarter production levels and sales and associated costs when it reports actual
results on May 8, 2019. For a complete picture of the Company’s financial performance, it will be necessary
to review all of the information in the Company’s first quarter financial report and related MD&A. Accordingly,
readers are cautioned not to rely solely on the information contained herein.
Finally, Barrick cautions that this press release contains forwar d-looking statements with respect to: (i)
Barrick’s production; and (ii) the implementation of the proposed Nevada joint venture with Newmont Mining
Corporation ("Newmont") and the realization of the potential of Nevada's mineral endowment.
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
BARRICK GOLD CORPORATION PRESS RELEASE
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: fluctuations in
the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural
gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral
production performance, exploitation, and exploration successes; risks associated with projects in the early
stages of evaluation, and for which additional engineering and other analysis is required; the duration of
the Tanzanian ban on mineral concentrate exports; the ultimate terms of any definitive agreement between
Acacia and the Government of Tanzania to resolve a 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 related matters; whether Aca cia will approve the terms of any
final agreement reached between Barrick and the Government of Tanzania with respect to the dispute
between Acacia and the Government of Tanzania; the ability to realize the anticipated benefits of the
proposed Nevada joint venture (including estimated synergies and financial benefits) or implementing the
business plan for the proposed Nevada joint venture, including as a result of a delay in its completion or
difficulty in integrating the Nevada assets of the companies involved; the risk that the conditions to formation
of the proposed Nevada joint venture will not be satisfied; the risk that required regulatory approvals
necessary to form the proposed Nevada joint venture will not be obtained, or that conditions will be imposed
in connection with such approvals that will increase the costs associated with the transaction or have other
negative implications for Barrick following the transaction; the risk that the focus of management's time and
attention on the transaction may detract from other aspects of the respective businesses of Barrick and
Newmont; disruption of supply routes which may cause delays in construction and mining activities at
Barrick’s more remote properties; whether benefits expected from recent transaction s are realized;
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; failure to comply with
environmental and health and safety laws and regulations; timing of receipt o f, or failure to comply with,
necessary permits and approvals; uncertainty whether some or all of targeted investments and projects will
meet the Company’s capital allocation objectives and internal hurdle rate; 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; 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 Canada, the United States, and other jurisdictions in which the Company or its affiliates do or may carry
on business in the future; lack of certainty with respect to foreign legal systems, corruption and other factors
that are inconsistent with the rule of law; 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 possibility that future
exploration results will not be consistent with the Company’s expectations; risks that exploration data may
be incomplete and considerable additional work may be required to complete further evaluation, including
but not limited to drilling, engineering and socioeconomic studies and investment; risk of loss du e to acts
of war, terrorism, sabotage and civil disturbances; litigation and legal and administrative proceedings;
contests over title to properties, particularly title to undeveloped properties, or over access to water, power
and other required infrastruc ture; business opportunities that may be presented to, or pursued by, the
Company; our ability to successfully integrate acquisitions or complete divestitures; risks associated with
working with partners in jointly controlled assets; employee relations inc luding 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 mining,
BARRICK GOLD CORPORATION PRESS RELEASE
including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-
ins, flooding and gold bullion, copper cathode or gold or cop per 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 qua lified 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.