Barrick Continues to be a Major Value Creator for Mali

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All quantities expressed in US {dollars}

LOULO, Mali, Jan. 27, 2024 (GLOBE NEWSWIRE) — Barrick Gold Company (NYSE:GOLD) (TSX:ABX) and its predecessor, Randgold Assets, has been a beneficial companion to Mali for 27 years and, within the face of many challenges, continues to work tirelessly with the Transition Authorities of Mali and native stakeholders to plot a brand new course for the nation’s mining trade and advertise as an funding vacation spot, says president and chief government Mark Bristow.

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Talking to media right here at this time, Bristow stated throughout this time its mines had contributed nearly $10 billion to the Malian financial system within the type of taxes, royalties, salaries and funds to native suppliers. Over the previous 10 years, they’ve accounted for between 5% and 10% of Mali’s GDP and over Loulo-Gounkoto’s life the state has acquired greater than 70% of the financial advantages it generated. Barrick has additionally developed a world-class native ability base, evidenced by the truth that its flagship Loulo-Gounkoto advanced is managed by a completely Malian workforce.

As a Tier One¹ mining advanced, Loulo-Gounkoto ranks among the many world’s largest gold producers, and its constantly robust efficiency makes it a serious contributor to Barrick’s backside line. This yr profitable brownfields drilling once more greater than changed the reserves depleted by mining whereas persevering with exploration has recognized new high-priority targets with the potential to ship the Loulo district’s subsequent technology of world-class discoveries.

Through the previous quarter Loulo’s photo voltaic farm extension to 60 megawatts and its new battery power storage system have been commissioned, according to Barrick’s world dedication to growing its use of renewable power sources. Its neighborhood growth tasks included the completion of a water distribution system which can serve 13,000 folks within the Kunda village.

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Enquiries
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
E mail: barrick@dpapr.com

Group Regional Supervisor, West Africa
Mahamadou Samaké
+223 66 75 61 36

West Africa and Saudi Arabia Operations Supervisor
Chiaka Berthe
+223 66 74 75 88

Web site:
www.barrick.com

Endnote

1. A Tier One Gold Asset is an asset with a $1,300/oz reserve potential to ship a minimal 10-year life, annual manufacturing of not less than 500,000 ounces of gold and with all in sustaining prices per ounce within the decrease half of the trade value curve.

Cautionary Assertion on Ahead-Trying Data

Sure info contained or included by reference on this press launch, together with any info as to our technique, tasks, plans, or future monetary or working efficiency, constitutes “forward-looking statements”. All statements, apart from statements of historic reality, are forward-looking statements. The phrases “sustains”, “discoveries”, “keep”, “on observe”, “alternatives”, “steering”, “acknowledge”, “develop”, “dedication”, “ship”, “goal”, “potential”, “stay”, “can”, “will”, and related expressions determine forward-looking statements. Particularly, this press launch incorporates forward-looking statements together with, with out limitation, with respect to Loulo-Gounkoto’s skill to attain its manufacturing steering for 2023 and keep its manufacturing profile; Loulo Gounkoto’s productive partnership with the federal government of Mali; the Complicated’s potential to proceed to make main contributions to the nation’s financial system and mining trade whereas growing the talents of its in-country workforce; Loulo-Gounkoto’s skill to proceed to interchange mineral reserves web of depletion; Barrick’s exploration technique and the potential to seek out new discoveries and progress alternatives within the Loulo area; Barrick’s technique, plans, targets and objectives in respect of environmental and social governance points, together with with respect to greenhouse gasoline emissions reductions and security and well being; and investments to assist neighborhood tasks, native procurement, employment, schooling and growth packages in Mali.

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Ahead-looking statements are essentially based mostly upon a lot of estimates and assumptions together with materials estimates and assumptions associated to the elements set forth beneath that, whereas thought of cheap by the Firm as on the date of this press launch in gentle of administration’s expertise and notion of present situations and anticipated developments, are inherently topic to important enterprise, financial, and aggressive uncertainties and contingencies. Recognized and unknown elements may trigger precise outcomes to vary materially from these projected within the forward-looking statements, and undue reliance shouldn’t be positioned on such statements and knowledge. Such elements embody, however will not be restricted to: fluctuations within the spot and ahead worth of gold, copper, or sure different commodities (resembling diesel gas, pure gasoline, and electrical energy); the speculative nature of mineral exploration and growth; modifications in mineral manufacturing efficiency, exploitation, and exploration successes; modifications in nationwide and native authorities laws, taxation, controls or laws and/ or modifications within the administration of legal guidelines, insurance policies and practices, expropriation or nationalization of property and political or financial developments within the Mali and different jurisdictions through which the Firm or its associates do or could keep it up enterprise sooner or later; danger of loss because of acts of struggle, terrorism, sabotage and civil disturbances; dangers related to new ailments, epidemics and pandemics, together with the consequences and potential results of the worldwide Covid-19 pandemic; litigation and authorized and administrative proceedings; worker relations together with lack of key workers; elevated prices and bodily and transition dangers associated to local weather change, together with excessive climate occasions, useful resource shortages, rising insurance policies and elevated laws associated to greenhouse gasoline emission ranges, power effectivity and reporting of dangers; and availability and elevated prices related to mining inputs and labor. Barrick additionally cautions that its steering could also be impacted by the continuing enterprise and social disruption attributable to the unfold of Covid-19. As well as, there are dangers and hazards related to the enterprise of mineral exploration, growth and mining, together with environmental hazards, industrial accidents, uncommon or sudden formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper focus losses (and the danger of insufficient insurance coverage, or incapability to acquire insurance coverage, to cowl these dangers).

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Many of those uncertainties and contingencies can have an effect on our precise outcomes and will trigger precise outcomes to vary materially from these expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements will not be ensures of future efficiency. All the forward-looking statements made on this press launch are certified by these cautionary statements. Particular reference is made to the latest Type 40-F/Annual Data Type on file with the SEC and Canadian provincial securities regulatory authorities for a extra detailed dialogue of among the elements underlying forward-looking statements and the dangers which will have an effect on Barrick’s skill to attain the expectations set forth within the forward-looking statements contained on this press launch.

Barrick disclaims any intention or obligation to replace or revise any forward-looking statements whether or not because of new info, future occasions or in any other case, besides as required by relevant legislation.

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