Nevada Joint Venture Deal Clears All Regulatory Conditions
PRESS RELEASE
NYSE : GOLD TSX : ABX
Nevada Joint Venture Deal Clears All Regulatory
Conditions
New York, April 22, 2019 — Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) and Newmont
Goldcorp Corporation (NYSE:NEM)(TSX:NGT) (“ Newmont Goldcorp”) today announced that their joint
venture in Nevada, which will create the world’s largest gold producing complex, has cleared all the
regulatory conditions required for its completion.
The U.S. Federal Trade Commission granted an early termination of the waitin g period under the Hart -
Scott-Rodino Act on April 19, 2019.
The new business, yet to be named, will be owned 61.5% by Barrick and 38.5% by Newmont Goldcorp,
and will be operated by Barrick. The operations making up the joint venture produced in excess of 4 million
ounces of gold in 2018, more than three times the next largest gold mine.
Barrick President and Chief Executive Officer, Mark Bristow, said that practical measures required to
integrate the joint venture assets and establish the new business are now being taken and are anticipated
to be complete within the current quarter.
“The joint venture agreement represents a historic accord between our companies that will unlock the
enormous geological potential of the Nevada goldfields and maximize its m any value -creating
opportunities,” Bristow said.
Gary Goldberg, Newmont Goldcorp’s chief executive officer, said, “By combining our operations and assets
in Nevada we will be able to extend profitable production, lower costs and create new opportunities for our
stakeholders in the region.”
Barrick Enquiries:
President and
Chief Executive Officer
Mark Bristow
+1 647 205 7694
+44 788 071 1386
Senior Executive Vice-President
and Chief Financial Officer
Graham Shuttleworth
+44 1534 735 333
+44 779 771 1338
Investor and
Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: [email protected]
Website: www.barrick.com
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 “will”, “anticipate”, “unlock”, “potential”, “opportunities” and
similar expressions identify forward -looking statements. In particular, this press release contains forward -looking
statements including, without limitation, with respect to: the proposed Nevada joint venture and the expected impact of
such a transaction, including estimates of the proposed Nevada joint venture’s annual gold production and other value-
creating opportunities (including estimated syner gies and financial benefits); and the expected timing for the
establishment and scope of the proposed Nevada joint venture, including satisfaction of closing conditions.
Forward-looking statements are necessarily based upon a number of estimates and assu mptions; including material
estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the
date of this press release in light of management’s experience and perception of current conditions and expe cted
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, an d electricity); the ability to realize the anticipated benefits of the proposed
joint venture or implementing the business plan for the proposed joint venture, including as a result of a delay in its
completion or difficulty in integrating the Nevada asset s of the companies involved; the risk that the conditions to
formation of the proposed joint venture will not be satisfied; the risk that the focus of management’s time and attention
on the proposed joint venture may detract from other aspects of the respe ctive businesses of Barrick and Newmont
Goldcorp; the risks associated with each of Barrick’s and Newmont Goldcorp’s brand, reputation and trust; the
speculative nature of mineral exploration and development; changes in mineral production performance, exploitation,
and exploration successes; diminishing quantities or grades of reserves; 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 and the United States;
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; 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; local and global political and economic conditions; contests over
title to properties, particularly title to undeveloped properties, or over access to wate r, 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 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 actua l 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. Al l 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.