Barrick Completes Formation of Strategic JV with Zijin Mining Group at Porgera for $298M in Cash

Barrick Gold Corporation

today announced that it has completed the formation of a strategic joint venture with Zijin Mining Group Co. Ltd, including the sale of a 50 percent interest in Barrick (Niugini) Limited ("BNL"), for a total cash consideration of $298 million. Proceeds from the transaction will be used to repay debt.BNL is the 95 percent owner and manager of the Porgera Joint Venture gold mine in Papua New Guinea.CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATIONCertain information contained in this press release, including any information as to our strategy, projects, plans or future financial or operating performance constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The word "will" 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 the company, 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. Such factors include, but are not limited to: fluctuations in the spot and forward