Technical Information
The scientific and technical information contained in this press release has been reviewed and approved by: Simon Bottoms, CGeol, MGeol, FGS, FAusIMM,
Mineral Resource Management and Evaluation Executive; Craig Fiddes, SME-RM, Lead - Resource Modeling, Nevada Gold Mines; Chad Yuhasz, P.Geo, Mineral Resource Manager, Latin America and Asia Pacific; and
Richard Peattie, MPhil, FAusIMM, Mineral Resources Manager: Africa & Middle East - each a Qualified Person as defined in National Instrument 43-101 - Standards of Disclosure for Mineral
Projects.
Endnote 1
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Commodity |
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Proven and Probable Reserve
Price Assumptions |
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Measured, Indicated and
Inferred Resource Price
Assumptions |
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2022 |
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2023 |
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2022 |
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2023 |
Gold |
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$1,300/oz |
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$1,300/oz i |
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$1,700/oz |
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$1,700/oz |
Copperii |
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$3.00/lb |
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$3.00/lb |
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$3.75/lb |
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$4.00/lb |
Silver |
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$18.00/oz |
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$18.00/oz |
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$21.00/oz |
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$21.00/oz |
i Except at Tongon where gold mineral reserves for 2023 are based
upon a price assumption of $1,500/oz and Hemlo where gold mineral reserves are based on a price assumption of $1,400/oz.
ii Except at Zaldivar, where mineral reserves and resources are based on Antofagastas price assumptions. For mineral reserves, the copper price assumption used by Antofagasta is $3.50/lb for 2023
and was $3.30/lb for 2022. For mineral resources, the copper price assumption used by Antofagasta is $4.20/lb for 2023 and was $3.75/lb for 2022.
Endnote 2
Estimated in accordance with National Instrument 43-101 -
Standards of Disclosure for Mineral Projects as required by Canadian securities regulatory authorities. Estimates are as of December 31, 2023, unless otherwise noted. Proven mineral reserves of 250 million tonnes grading 1.85g/t,
representing 15 million ounces of gold, and 320 million tonnes grading 0.41%, representing 1.3 million tonnes of copper. Probable reserves of 1,200 million tonnes grading 1.61g/t, representing 61 million ounces of gold, and
1,100 million tonnes grading 0.38%, representing 4.3 million tonnes of copper. Measured resources of 430 million tonnes grading 1.76g/t, representing 24 million ounces of gold, and 580 million tonnes grading 0.39%,
representing 2.2 million tonnes of copper. Indicated resources of 4,800 million tonnes grading 1.00g/t, representing 150 million ounces of gold, and 4,900 million tonnes grading 0.39%, representing 19 million tonnes of
copper. Inferred resources of 1,500 million tonnes grading 0.8g/t, representing 39 million ounces of gold, and 2,000 million tonnes grading 0.4%, representing 7.1 million tonnes of copper. Totals may not appear to sum correctly
due to rounding. Complete mineral reserve and mineral resource data for all mines and projects referenced in this press release, including tonnes, grades, and ounces, can be found in the Mineral Reserves and Mineral Resources Tables included on the
following pages of this press release.
Endnote 3
Estimated in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects as
required by Canadian securities regulatory authorities. Estimates as of December 31, 2022, unless otherwise noted. Proven mineral reserves of 260 million tonnes grading 2.26g/t, representing 19 million ounces of gold, and
390 million tonnes grading 0.40%, representing 3,500 million pounds of copper. Probable reserves of 1,200 million tonnes grading 1.53g/t, representing 57 million ounces of gold, and 1,100 million tonnes grading 0.37%,
representing 8,800 million pounds of copper. Measured resources of 480 million tonnes grading 2.13g/t, representing 33 million ounces of gold, and 700 million tonnes grading 0.39%, representing 6,000 million pounds of
copper. Indicated resources of 4,700 million tonnes grading 0.96g/t, representing 150 million ounces of gold, and 4,500 million tonnes grading 0.39%, representing 38,000 million pounds of copper. Inferred resources of
1,500 million tonnes grading 0.8g/t, representing 42 million ounces of gold, and 1,800 million tonnes grading 0.4%, representing 15,000 million pounds of copper. Totals may not appear to sum correctly due to rounding. Complete
mineral reserve and mineral resource data for all mines and projects referenced in this presentation as of December 31, 2022, including tonnes, grades, pounds, and ounces, can be found on pages 33-46 of
Barricks 2022 Annual Information Form / Form 40-F on file with the Canadian provincial securities regulators on SEDAR+ at
www.sedarplus.ca and the Securities and Exchange Commission on EDGAR at
www.sec.gov.
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BARRICK GOLD CORPORATION |
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PRESS RELEASE |