Exploration Update · 2017. 12. 22. · Konkola Post-Kundelungu Lower Roan (Cu) Basement Barrick Prospects Kinsenda 17 Mt 1 Mt rocks Large and high ... Twin Creeks Mine Well endowed

BARRICK GOLD CORPORATIONInvestor Day – September 7, 2011

Exploration UpdateInvestor Day - September 7, 2011

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Certain information contained in this presentation, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute"forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “believe”, "expect", "will", “anticipate”, “contemplate”, “target”, “plan”, “continue”, “budget”, “may”, “intend”, “estimate” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies The Company cautions the reader that such forward-looking statements involve known and unknown risks uncertainties

CAUTIONARY STATEMENT ON FORWARD‐LOOKING INFORMATION

contingencies. The Company cautions the reader that such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual financial results, performance or achievements of Barrick to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and theforward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: changes in the worldwide price of gold, copper or certain other commodities (such as silver, fuel and electricity); the ability of the Company to complete or successfully integrate an announced acquisition proposal; legislative, political or economic developments in the jurisdictions in which the Company carries on business, including Zambia and Saudi Arabia; operating or technical difficulties in connection with mining or development activities; employee relations; availability and costs associated with mining inputs and labor; the speculative nature of exploration and development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves; contests over title to properties, particularly title to undeveloped properties; the risks involved in the exploration, development and mining business. Certain of these factors are discussed in greater detail in the Company’s most recent Form 40-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities.

Th C di l i i t ti bli ti t d t i f d l ki t t t h th lt f

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The Company 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.


Barrick Exploration System (BXS)

Developing great explorers to find large deposits faster

Common language and systematic approach to manage j t i liproject pipeline

Pipeline PeopleEmpowering & developing. Discovery-

Better/ faster decisions

Exploration (inter‐regional collaboration)

DISCOVERY

3

Discoverydriven

KnowledgeSharing and efficiency

Corporate Development

and Evaluations

Regional Business Units

Barrick Exploration ‐ Strategy

Exploration strategy that is aligned with Barrick’s business objectives

Looking for the next flagship deposit

Replacing and adding resources at existing operations and development projects

4

Working closely with Corporate Development to help identify best assets (early opportunity and upside)


2011 Exploration Program(1)

$370-$390M

North AmericaAfricanBarrick

$210M

38%

13%11%

~80%

5

AustraliaPacific

South America

(1) See final slide #1

20112010

38%

OperationDevelopment Project

THROUGH ACQUISITION AND EXPLORATION Proven and Probable – millions of ounces of gold

History of Gold Reserve Growth

140~140(1)

20

140TOTALEXP’N

21Moz

Spent $2.2B on explorationOverall finding cost ~$16/oz

6(1) See final slide #2

1990 2010109TOTALMINED

110TOTALACQ’D

21MozDivestitures


0 5 10 15 20 25

Goldstrike 52Moz

Reserve/resource ounces added (millions)

History of Reserve/Resource Growth

Cortez

Pascua-Lama

Donlin Creek

Pueblo Viejo

Turquoise Ridge

Veladero

Bulyanhulu

7

Reko Diq

Lagunas Norte

Pierina

Bald Mtn

Ruby Hill

S. Arturo ACQUIRED ADDED GRASSROOTS

South America

COLOMBIA

P E R U

Zaldívar

PierinaLagunas Norte

8

C H I L EA R G E N T I N A

Zaldívar

Operations /Development

Exploration

Cerro Casale

Pascua-LamaVeladeroEl Indio

Casale


El Indio

MioceneCollahuasi

Abra

Chuquicamata

Eocene-Oligocene

Under-explored region of two overlapping giant porphyry belts

Focused on overlap of world class porphyry Cu‐Au belts

N

Zaldivar

Escondida

Salvador

El Morro Argentina

Chile

Cerro Casale

Pascua-Lama

p p y y

Barrick has a dominant land position in this highly prospective area

33 priority areas for Cu-Au porphyry systems identified and ranked, 11 with detailed follow up

Pascua-Lama

Veladero

El Indio

9

PelambresPachon

Los BroncesAndina

Teniente

200 km

Veladerowith detailed follow up

El Tranque drilling in progress

Carmen - Pascua and Veladero type target

El Tranque

Carmen

20 kmFollow up areasBarrick claims

Carmen New HS oxide system in El Indio Belt

High sulfidation system related to multiple hydrothermal breccias similar to Pascua - Lama

1.7 g/t Au

Highest grade Au - Ag mineralization is exposed over an area >2.5 km by at least 300m

Drill testing in Q4

3.2 g/t Au

2.1 g/t Au

1.6 g/t Au

1.7 g/t Au

2.0 g/t Au

Argentina

10

Favorable Host Rocks

Mapped Hydrothermal Breccia Zones

Basement Rocks

Au Rock > 0.5 g/t

Legend

Extent of Exposed Mineralization & Alteration

500m

?

Chile


New Porphyry Targets

Known ProspectsN

At least 8 new porphyry targets identified

Casale District Exploration

Luciano

Román

Eva

Casale

Anfiteatro

identified

Follow-up work identified a new porphyry system (Luciano)

Surface grades at Lucianosuggest

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Casale ggpotential to become a stand-alone deposit

Casale Resources Pit(Au $1,200 oz & Cu $2.50 Lb)

Luciano Au‐Cu Porphyry

Au Au 2.04 g/t2.04 g/tC 0 19%C 0 19%AuAu 2.09 g/t2.09 g/t

LookingLooking NorthNorth

Au Au 1.81 g/t 1.81 g/t Cu 0.24%Cu 0.24%

Au Au 3.25 g/t3.25 g/tCu Cu 0.1%0.1%

Au Au 1.57 g/t1.57 g/tCu Cu 2.06%2.06%

Cu 0.19%Cu 0.19%

Au Au 0.93 g/t 0.93 g/t Cu 0.18%Cu 0.18%

Au Au 2.09 g/t2.09 g/tCu Cu 0.21%0.21%

Au Au 1.65 g/t 1.65 g/t Cu 0.17%Cu 0.17%

Au Au 1.05 g/t 1.05 g/t Cu 0.24%Cu 0.24%

Au Au 1.32 g/t1.32 g/tCu Cu 0.10.1%%

MineralizedMineralized ZoneZone

Au Au 0.25 g/t0.25 g/tCu Cu >>1% 1% (OL(OL))((bottombottom of of thethe creekcreek))

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Au-Cu mineralization exposed at surface

Mineralization is open to the north, west and south

Drill program initiated

700 m700 m


Australia PacificP A P U A

N E W G U I N E ASAUDI ARABIA

Jabal Sayid

Porgera

PlutonicDarlot

Kalgoorlie

Lawlers

KanownaGranny Smith

A U S T R A L I A

Three regional centersRobust, multi-stage pipeline

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Kalgoorlie

Cowal

Operations / Development Exploration

ZAMBIA

Lumwana

Central African Copperbelt

DEMOCRATIC REPUBLICOF CONGO

ANGOLA

Kabompo

MwombezhiDome

NgalaHistoricalDevelopmentOperating

Project Status

LUMWANALUMWANA

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ZAMBIA

Roan Group (Cu)Post-Kundelungu

Basement

Muva SedimentsKaroo Sediments

Mufapanda

ANGOLIA

10 - 20 Mt

5 - 10 Mt1 - 5 Mt0 - 1 Mt

Cu Endowment

100km

BarrickProjectCu belt trends


Lumwana ‐ Plan View

Series of old thrust sheets host mineralizationmineralization

Coarse Cu minerals result in favourablemetallurgy

Additional prospects

Odile

Malundwe

Lubwe

Chimiwungo

15

p pgrading +1% Cu over 10 meters

Mutoma

10km Basement

Rimming QuartziteKatangan

FaultThrust Sheets

Chimiwungo ‐ Plan View

$1.20/lb Cu Pit Shell


16


2km

Chimiwungo Sheet

Rimming QuartziteFault


ng S

ectio

nng

Sec

tion Select Drill Results:

66m @ 1.23% Cu61m @ 1.11% Cu95m @ 1.01% Cu

Chimiwungo ‐ Potential

Lon

Lon 95m @ 1.01% Cu

77m @ 0.84% Cu18m @ 1.52% Cu30m @ 1.31% Cu25m @ 1.78% Cu46m @ 1.27% Cu17m @ 1.54% Cu30m @ 1.27% Cu

17


2km

Chimiwungo Sheet

Rimming Quartzite

7m @ 1.75% Cu 9m @ 0.95% Cu

Mutoma

X SectionX Section

S (Looking West)1500RL

N$1.20/lb Cu Pit Shell

Chimiwungo ‐ Sections

1500RLW (Looking North) E


500mCHIMIWUNGO LONG SECTION

Fault

1000RL Leached overburdenHangingwall gneissOxide oreOre schistsMiddle gneissLower gneissFootwall schistDrill hole

$3.50/lb CuPit Shell

$2.50/lb CuPit Shell


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1000RL

500RL CHIMIWUNGO CROSS SECTION500m$3.50/lb Cu Pit Shell


Zambia ‐ Ngala Project

Recent major discoveries in unconventional

DemocraticRepublic of Congo

KonkolaKonkola

Post-KundelunguLower Roan (Cu)Basement

Barrick Prospects

KinsendaKinsenda

17 Mt

1 Mt

unconventional rocks

Large and high grade Cu deposits flanking targets

NchangaNchanga

ChambishiChambishi

MufuliraMufulira

LubembeLubembe

NgalaNgalaOperatingDevelopmentHistorical

Project Status /Cu Endowment

ProspectsZambia - DRCBorder

FrontierFrontier

17 Mt

5 Mt

4 Mt

2 Mt

13 Mt 10 Mt

19

Unlocking potential in prospective ground

20km

ZambiaLuanshyaLuanshya

NkanaNkana7 Mt

5 Mt

Nevada Land Holdings / Projects

GoldstrikeTurquoiseRidge

I D A H OO R E G O N

CortezBaldMountain

N E V A D A

GoldstrikeCarlin ElkoMarigold

Turquoise Ridge

Cortez Bald Mtn


20

0 miles 50 100

Ruby Hill

MountainRuby Hill

Round Mtn

0 miles 100 200

NNNNNNNNNNNNNNNNNNNNNNNNN


Turquoise Ridge Concealed TargetsPlanned Getchell Open Pit andTurquoise Ridge Underground

Twin Creeks Mine Well endowed district +40 M oz Au

Limited historical drillingPediment Cover1,500 ft. depth

under pediment cover

3D Seismic Survey RegionPlanned Getchell Open PitGold Deposits

Drill Hole Depth to Bedrock0 – 400 ft

401 – 800 ft801 – 1200 ft

MAP LEGEND

Cortez Project Location

GoldstrikeTurquoiseRidge


CortezBaldMountain

N E V A D A

GoldstrikeCarlin ElkoMarigold

Turquoise Ridge

Cortez Bald Mt.


22

0 miles 50 100

Ruby Hill

MountainRuby Hill

Round Mt.

0 miles 100 200



Cortez Camp ‐ Long Discovery History

NNNNNNNNNNNNNNNNNNNNNNNNNHilltop

High camp endowment of 39 M oz

W ld l i d

Gold Acres

Pipeline

World-class mines and long discovery history

2 new discoveriesPotential for additional discoveries below cover

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Cortez

CortezHills

RedHill

Goldrush

Buckhorn

HorseCanyon

DiscoveryGold Mine - >10Moz EndowmentGold Mine - Significant Past ProductionOverburden / AlluviumVolcanic RocksIntrusive RocksCarbonate RocksSiliciclastic Rocks 8 miles

Red Hill / Goldrush Corridor

Pipeline

Cortez

HorseCanyon

CortezHills

RedHill

24Oblique aerial photo looking to the northwest

Goldrush

ET North


Result Highlights

Less than 5 oz-ft5 to 10 oz-ft

10 to 20 oz-ft

Drill HoleGrade x Thickness194ft @ 0.90 opt

20ft @ 1.18 opt

REDHILLRobertsMountains

Thrust

20 to 50 oz-ftGreater than 50 oz-ft

80ft @ 0.25 opt

120ft @ 0.14 opt

135ft @ 0.43 opt

116ft @ 0.35 opt

Section Location Inset Map

35ft @ 0.40 opt65ft @ 0.15 opt25ft @ 0.18 opt

(opt = ounces per ton Au)

25

Overburden / Alluvial CoverVolcanic Cover Rocks

Prospective Lower Plate RocksNon-prospective Upper Plate Rocks

Geology

0 feet 2,000 4,000


165ft @ 0.372 opt

66.5ft @ 0.21 opt 186ft @ 0.17 opt

GOLDRUSH30ft @ 0.08 opt

67.2ft @ 0.89 opt

8,000 feet

RedHill

Goldrush

Areas ofFocusedDrilling


Red Hill / Goldrush ‐ Long Section

~2 miles

RED HILL GOLDRUSHAA’

Section B

Limestone

AAlluvial CoverOPEN

OPEN

40ft @ 0.28 opt

30ft @ 0 21 opt

92.5ft @ 0.31 opt

80ft @ 0.25 opt

87ft @ 0.16 opt100.5ft @ 0.25 opt

29ft @ 0.18 opt120ft @ 0.14 opt

26

Section Location Inset Map

RedHill

Goldrush


30ft @ 0.21 opt

135ft @ 0.43 opt


Red Hill ‐ Cross Section

Alluvial Cover

B’

92.5ft @ 0.31 opt

62ft @ 0.36 opt


60ft @ 0.26 opt

70ft @ 0.09 opt119.8ft @ 0.34 opt

B

Mudstone

MineralizedHorizon


27

Siltstone

Upper LimestoneLower Limestone0 feet 500 1,000

Section Location Inset MapRedHill

Goldrush


Goldrush ‐ Long Section

120ft @ 0 14 opt

Alluvial Cover

C

C’120ft @ 0.14 opt

210ft @ 0 10 t

MineralizedHorizon

Limestone

135ft @ 0.43 opt

20ft @ 0.21 opt 59ft @ 0.49 opt

63ft @ 0.19 opt

66.5ft @ 0.21 opt 186ft @ 0.17 opt

28

0 feet 1,000 2,000

30ft @ 0.08 opt67.2ft @ 0.89 opt

35.5ft @ 0.41 opt30ft @ 0.19 opt

210ft @ 0.10 opt


118ft @ 0.16 opt

Section Location Inset MapRedHill

Goldrush



Goldrush / Red Hill Drill Core

Example of replacement-style mineralization at Goldrush

High grade gold from KB

Goldrush

Discovery drill hole HCD09-01 intersected 67.2 ft grading 0.89 opt

5 ft @ 0.71 opt

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4 ft @ 5.96 opt

High grade gold from KB zone at Red Hill

Drill hole RHD08-06 intersected 194 ft grading 0.90 opt Au

Cortez ‐ Continuous Organic Growth

Large growth opportunity in well endowed Cortez Camp

Strong and continuous Carlin-style mineralization

Tabular mineralized horizon extends 4 miles from Red Hillto ET Blue

+3.5 M oz inferred resource outlined at Red Hill and openin all directions

Discovery at Goldrush, 6,000ft south of Red Hill and openin all directions

30

Drilling to find extent of system as well as in-fill drilling to confirm continuity and grade

Other significant opportunities throughout the Cortez camp continue to be advanced – Lower Zone, Hilltop, CTI, Buckhorn


0 5 10 15 20 25

Reserve/resource ounces added (millions)

History of Reserve/Resource Growth

Goldstrike 52Moz Cortez

Pascua-Lama

Donlin Creek

Pueblo Viejo

Turquoise Ridge

Veladero

Bulyanhulu

Reko Diq

Lagunas Norte

31

Pierina

Bald Mtn

Ruby Hill

S.Arturo

ACQUIRED ADDED GRASSROOTSGoldrush

Red Hill

Summary

Successful approach to resource growth through a balance of exploration and acquisitions:

2 j di i ! ibl l– 2 major new discoveries! – possibly several more emerging

– Consistent resource growth following acquisitions

Best exploration pipeline in the business

Exploration group clearly focused on business t

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outcomes

Exploration success is sustainable

Exploration a great engine for value creation at Barrick


Footnotes1. Barrick’s exploration programs are designed and conducted under the supervision of Robert Krcmarov, Senior Vice President, Global Exploration of Barrick.

For information on the geology, exploration activities generally, and drilling and analysis procedures on Barrick’s material properties, see Barrick’s most recent Annual Information Form/Form 40-F on file with Canadian provincial securities regulatory authorities and the U.S. Securities and Exchange Commission.

2. Barrick’s mineral reserves (“reserves”) and mineral resources (“resources”) have been calculated as at December 31, 2010 in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For United States reporting purposes, Industry Guide 7, (under the Securities and Exchange Act of 1934), as interpreted by Staff of the SEC, applies different standards in order to classify mineralization as a reserve. Accordingly, for U S ti C C l i l ifi d i li d t i l F b kd f d b t d dditi lU.S. reporting purposes, Cerro Casale is classified as mineralized material. For a breakdown of reserves and resources by category and additional information relating to reserves and resources, see pages 24 to 34 of Barrick’s 2010 Form 40-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities.

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Exploration Update · 2017. 12. 22. · Konkola Post-Kundelungu Lower Roan (Cu) Basement Barrick Prospects Kinsenda 17 Mt 1 Mt rocks Large and high ... Twin Creeks Mine Well endowed