Tongon Achieves Revised Guidance After Overcoming Major Challenges

NEWS RELEASE

NYSE : GOLD TSX : ABX

Tongon Achieves Revised Guidance After Overcoming

Major Challenges

All amounts expressed in U.S. dollars

ABIDJAN, Côte d’Ivoire, January 24, 2019 — After nine months of intermittent production caused by

illegal strikes and social unrest, the Tongon gold mine returned to normal in the last quarter of 2018 and

achieved its revised production target of 230,000 ounces for the year.

Speaking at a media br iefing here, Barrick President and Chief Executive Mark Bristow said the

Government-endorsed reconciliation agreement between the mine, the employees and the community was

designed to create a climate in which operations would run as normal and good relations could be rebuilt.

“This should mark a new beginning for Tongon, and it is significant that the Minister of Mines, Jean Claude

Kouassi, visited the mine to sign this agreement in the presence of representatives of all the stakeholders,”

he said.

Bristow said Barrick was committed to continuing the Randgold policy of investment in community projects

and noted that despite the many challenges it had faced, Tongon had to date spent some $10 million on

these initiatives. All eight villages in the mine’s ambit now have primary schools, medical care facilities and

potable water, and the development of an agribusiness as a sustainable source of economic activity after

the mine’s closure is progressing.

During the year, the mine’s grid power supply was frequently interrupted by the roll-out of the power utility’s

new ring circuit, which also impacted production. Bristow said that the situation was much improved after

the commissioning of the new circuit and Tongon was looking forward to a more stable supply as well as a

more constructive engagement with the utility.

“It’s worth noting that despite its troubled history, Tongon has remained profitable and has continued to pay

dividends to its shareholders, including the Government,” Bristow said.

“We are committed to prolong the contribution it makes to the economy and the community by extending

the mine’s life. Exploration for additional reserves is continuing around the mine and indications are that

this aim is achievable. We are also maintaining our search for new world-class gold deposits in our permit

portfolio elsewhere in Côte d’Ivoire.”

Enquiries:

President and chief executive

Mark Bristow

+1 647 205 7694

+44 788 071 1386

Group regional manager

West Africa

Mahamadou Samaké

+223 66 75 61 36

Investor & media relations

Kathy du Plessis

+44 20 7557 7738

Email: [email protected]

Website: www.barrick.com

BARRICK GOLD CORPORATION NEWS RELEASE

Cautionary Statement on Forward-Looking Information

Certain information contained in this news 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 “should”, “continue”,

“committed” and “will” and similar expressions identify forward-looking statements. In particular, this news

release contains forward-looking statements including, without limitation, with respect to: the benefits of the

Government-endorsed reconciliation agreement between the Tongon mine, the employees and the

community, future investments in community projects, permitting strategy, the availability of power to the

mine and the potential for future mine life extensions, additions to reserves, and exploration success.

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 Barrick as at the date of this news 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 Côte d’Ivoire; 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 Barrick’s reputation due to the actual or perceived occurrence of any number of

events, including negative publicity with respect to the Barrick’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 pr oduction 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 difficu lties 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 availabil ity 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 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 f uture performance.

All of the forward -looking statements made in this news 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 se curities 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 news 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.