Pueblo Viejo Achieves Commercial Production

Pueblo Viejo Achieves Commercial Production 
TORONTO, ONTARIO -- (Marketwire) -- 01/15/13 --  
All amounts expressed in U.S. dollars unless otherwise indicated. 
Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) today announced it has
achieved commercial production at its 60 percent owned Pueblo Viejo
mine in the Dominican Republic. 
"This is another major milestone at this truly world-class mine,"
said Jamie Sokalsky, President and Chief Executive Officer of
Barrick. "We are pleased to have successfully completed Pueblo Viejo
last year, in line with guidance, and now also to have reached
commercial production." 
Pueblo Viejo was completed at a capital cost of $3.7 billion and
created more than 11,000 direct jobs during the construction phase of
the project. The operation is expected to support about 2,000 direct
jobs plus nearly 10,000 indirect jobs over its +25 year mine life,
with Dominicans accounting for nearly 90 percent of the full-time
workforce.  
Since 2008, Pueblo Viejo Dominicana Corporation (PVDC) has invested
over $7 million in projects to improve healthcare, housing and
literacy and allocated a further $75 million to remediate
environmental impacts from a former mining operation on the site. 
Pueblo Viejo Highlights 
(all figures are Barrick's 60 percent share unless noted) 


 
--  Ramp-up to full capacity is expected to occur in the second half of 2013
    and production for the year is anticipated to be 500,000-650,000
    ounces(1) 
--  Barrick's share of annual production in the first full five years of
    operation is expected to average 625,000-675,000 ounces 
--  25.3 million ounces of reserves (100 percent basis) as of year-end
    2011(2) 

 
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION 
Certain information contained or incorporated by reference 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
words "expect", "anticipate", "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 future price of gold and copper or
certain other commodities (such as silver, diesel fuel and
electricity); diminishing quantities or grades of reserves; the
impact of inflation; changes in national and local government
legislation, taxation, controls, regulations, expropriation or
nationalization of property and political or economic developments;
the impact of global liquidity and credit availability on the timing
of cash flows and the values of assets and liabilities based on
projected future cash flows; fluctuations in the currency markets;
changes in U.S. dollar interest rates; risks arising from holding
derivative instruments; risk of loss due to acts of war, terrorism,
sabotage and civil disturbances; operating or technical difficulties
in connection with mining or development activities; employee
relations; availability and increased costs associated with mining
inputs and labor; increased costs and technical challenges associated
with the construction of capital projects; litigation; the
speculative nature of mineral exploration and development, including
the risks of obtaining necessary licenses and permits; adverse
changes in our credit rating; contests over title to properties. 
In addition, there are risks and hazards associated with the business
of mining, including environmental hazards, industrial accidents,
unusual or unexpected formations, pressures, cave-ins, flooding and
gold bullion losses (and the risk of inadequate insurance, or
inability to obtain insurance, to cover these risks). 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 discussion of some
of the factors underlying forward-looking statements. 
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. 
(1) Actual results will vary depending on the how the ramp-up
progresses. 
(2) Calculated in accordance with National Instrument 43-101 as
required by Canadian securities regulatory authorities. For U.S.
reporting purposes, Industry Guide 7 (under the Securities Exchange
Act of 1934), as interpreted by the Staff of the SEC, applies
different standards in order to classify mineralization as a reserve.
Accordingly, for U.S. reporting purposes, approximately 2.15 million
ounces of reserves at Pueblo Viejo (Barrick's 60 percent interest) is
classified as mineralized material. For a breakdown of reserves and
resources by category and additional information relating to reserves
and resources, see pages 161-166 of Barrick's 2011 Year-End Report.
Contacts:
INVESTOR CONTACT: Greg Panagos
Senior Vice President
Investor Relations and Communications
(416) 309-2943
gpanagos@barrick.com 
MEDIA CONTACT: Andy Lloyd
Director, Media Relations
(416) 307-7414
alloyd@barrick.com