Barrick Announces Partial Monetization of Investment in Shandong Gold and Continuing Strong Partnership

TORONTO, June 16, 2020 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) today announced that it has sold 79,268,800 shares of Shandong Gold Mining Co., Ltd. (“Shandong Gold”), at a price of HK$20.50 per share for gross proceeds of approximately US$210 million. Barrick purchased the shares in the fourth quarter of 2018 at a cost basis of HK$10.50 per share.

Barrick continues to hold 10,250,000 shares of Shandong Gold, representing a 2.05% interest in Shandong Gold’s Hong-Kong listed (H-class) shares, re-affirming its commitment to the strong existing long-term strategic partnership between the two companies.

The shares were sold by an accelerated book building process and were placed primarily with new and existing institutional shareholders of Shandong Gold.

Morgan Stanley & Co. International plc acted as Barrick’s Sole Placing Agent for the process.

A Disclosure of Interests form will be filed by Barrick in accordance with Hong Kong securities laws.

Enquiries:

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

Website: www.barrick.com

Cautionary Statement on Forward-Looking Information

Certain information contained in this press release constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “will”, “commitment”, “strategic”, “partnership” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to Barrick’s shareholding position in, and strategic partnership with, Shandong Gold.  Forward-looking statements are necessarily based upon a number of assumptions, including material assumptions considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies.

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.

Barrick 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.