Barrick Announces Pricing for Debt Tender Offer, Aggregate Up To $850M

All amounts expressed in US dollars unless otherwise indicated Barrick Gold Corporation

("Barrick" or the "company") announced today the Reference Yield, Tender Offer Consideration and Total Consideration (each as defined below) in its cash tender offer (the "Tender Offer") for specified series of outstanding notes (the "Notes"). The terms and conditions of the Tender Offer are described in an offer to purchase (the "Offer to Purchase") and the related letter of transmittal (the "Letter of Transmittal"), each dated September 29, 2015. The Tender Offer The Tender Offer commenced on September 29, 2015. Barrick, Barrick North America Finance LLC and Barrick (PD) Australia Finance Pty Ltd (together, the "Offerors") are offering to purchase for cash the series of Notes set out in the table below for an aggregate purchase price (including principal and premium) of up to $850,000,000, as such amount has been increased by the Offerors, plus accrued and unpaid interest on the Notes from the last applicable interest payment date up to, but not including, the settlement date. The amount of a series of Notes that is purchased in the Tender Offer will be based on the order of priority (the "Acceptance Priority Level") for such series of Notes as set forth in the table below, with 1 being the highest Acceptance Priority Level and 7 being the lowest Acceptance Priority Level. In addition, the aggregate principal amount relating to the offer to purchase the series of Notes with Acceptance Priority Level 2 (the "Priority 2 Notes") will be limited to $275,000,000 (such principal amount, the "Priority 2 Tender Cap"). If there are sufficient remaining funds to purchase some, but not all, of the Notes tendered of any series (other than the Priority 2 Notes), the amount of Notes purchased in that series will be subject to proration using the procedure more fully described in the Offer to Purchase. In addition, if Priority 2 Notes are validly tendered and not validly withdrawn such that the aggregate principal amount of such Priority 2 Notes would exceed the Priority 2 Tender Cap, the amount of Priority 2 Notes purchased will be subject to proration using the procedure more fully described in the Offer to Purchase. The following table presents the applicable Tender Offer Consideration or Total Consideration to be paid to each holder of Notes accepted for purchase and the Reference Yield used in the calculation of such consideration. Reference Fixed Acceptance U.S. Spread Title of CUSIP Priority Treasury Reference (basis Tender Offer Early Tender Total Security Number Level Security Yield points) Consideration(1) Premium(1)(2) Consideration(1)(2) ------------ ---------- ---------- ---------- --------- ------- ---------------- ------------- ------------------- 2.50% Notes 067901AN8 1.00% due due 067901AM0 Sept 15, 2018(3) C03420AE3 1 2018 0.837% +120 $981.27 $30.00 $1,011.27 ------------ ---------- ---------- ---------- --------- ------- ---------------- ------------- ------------------- 6.95% Notes 1.375% due due Sept 30, 2019(3) 067901AB4 2 2020 1.289% +105 $1,120.89 $30.00 $1,150.89 ------------ ---------- ---------- ---------- --------- ------- ---------------- ------------- ------------------- 3.85% Notes 067901AL2 2.00% due due 067901AJ7 Aug 15, 2022(3) C03420AD5 3 2025 1.993% +300 $907.80 $30.00 $937.80 ------------ ---------- ---------- ---------- --------- ------- ---------------- ------------- ------------------- 4.10% Notes 067901AQ1 2.00% due due 067901AP3 Aug 15, 2023(3) C03420AF0 4 2025 1.993% +325 $899.80 $30.00 $929.80 ------------ ---------- ---------- ---------- --------- ------- ---------------- ------------- ------------------- 4.95% Notes 1.375% due due Sept 30, 2020(4) 06849UAC9 5 2020 1.289% +190 $1,038.88 $30.00 $1,068.88 ------------ ---------- ---------- ---------- --------- ------- ---------------- ------------- ------------------- 6.80% Notes 1.00% due due Sept 15, 2018(5) 06849RAB8 6 2018 0.837% +215 $1,074.45 $30.00 $1,104.45 ------------ ---------- ---------- ---------- --------- ------- ---------------- ------------- ------------------- 4.40% Notes 06849RAD4 1.375% due due 06849RAF9 Sept 30, 2021(5) U0684TAA4 7 2020 1.289% +350 $951.08 $30.00 $981.08 ------------ ---------- ---------- ---------- --------- ------- ---------------- ------------- ------------------- (1) Per $1,000 principal amount of Notes validly tendered and accepted for purchase. (2) The Early Tender Premium is included in the Total Consideration for Notes validly tendered and not validly withdrawn in the Tender Offer at or prior to the Early Tender Date (as defined below). (3) Barrick is the applicable Offeror for the 2.50% Notes due 2018, the 6.95% Notes due 2019, the 3.85% Notes due 2022 and the 4.10% Notes due 2023. (4) Barrick (PD) Australia Finance Pty Ltd is the applicable Offeror for the 4.95% Notes due 2020. (5) Barrick North America Finance LLC is the applicable Offeror for the 6.80% Notes due 2018 and the 4.40% Notes due 2021. Holders of Notes validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on October 13, 2015 (the "Early Tender Date") and accepted for purchase will receive the applicable "Total Consideration", which includes an early tender premium of $30.00 per $1,000 of principal amount of Notes accepted for purchase (the "Early Tender Premium"). Holders of Notes who validly tender their Notes after the Early Tender Date, but at or prior to the Expiration Date (as defined below), will be eligible to receive only the applicable "Tender Offer Consideration", which is an amount equal to the applicable Total Consideration minus the Early Tender Premium. The Tender Offer Consideration or Total Consideration, as applicable, will only be paid to holders of tendered Notes to the extent that the applicable Offeror accepts such Notes for purchase. The Tender Offer Consideration or the Total Consideration, as applicable, for each series per $1,000 principal amount of Notes was determined by reference to the applicable fixed spread (the "Fixed Spread") specified for such series over the applicable yield (the "Reference Yield") based on the bid side price of the applicable reference U.S. Treasury Security (the "Reference U.S. Treasury Security") specified for such series of Notes on the front page of the Offer to Purchase or in the table above, as calculated by Citigroup Global Markets Inc., Morgan Stanley & Co. LLC and RBC Capital Markets, LLC (the "Dealer Managers") at 2:00 p.m., New York City time, on October 14, 2015. In addition to the Tender Offer Consideration or the Total Consideration, as applicable, accrued and unpaid interest on the Notes accepted for purchase will be paid from the last applicable interest payment date up to, but not including, the settlement date. Withdrawal rights with respect to the Notes tendered expired at 5:00 p.m., New York City time, on October 13, 2015. Subject to the terms and conditions contained in the Offer to Purchase, holders may tender Notes until midnight, New York City time, on October 27, 2015, unless extended (such date and time, as the same may be extended, the "Expiration Date"). The settlement date for the Tender Offer will follow promptly after the Expiration Date. The Offerors expect the settlement date will be October 28, 2015. The Tender Offer is subject to the satisfaction of certain conditions set forth in the Offer to Purchase. If any of the conditions are not satisfied or waived by the Offerors, the Offerors will not be obligated to accept for purchase, purchase or pay for, validly tendered Notes, in each case subject to applicable laws, and may terminate the Tender Offer. The Tender Offer is not conditioned on the tender of a minimum principal amount of Notes. Questions regarding the Tender Offer may be directed to Citigroup Global Markets Inc. at +1 800 558-3745 (toll-free) or +1 212 723-6106 (collect), Morgan Stanley & Co. LLC at +1 800 624-1808 (toll-free) or +1 212 761-1057 (collect), or RBC Capital Markets, LLC at +1 877 381-2099 (toll-free) or +1 212 618-7822 (collect). Copies of the Offer to Purchase and the Letter of Transmittal may be obtained from the Information Agent, Global Bondholder Services Corporation at +1 866 470-3800 (toll-free) or +1 212 430-3774 (collect) or in writing at 65 Broadway, Suite 404, New York, NY 10006.