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AFRICAN BARRICK GOLD PLC: Exploration Update

15th January 2014 
           African Barrick Gold plc (the "Company" or "ABG")                


                              Exploration Update                               

  * Bulyanhulu exploration drilling confirms extensions to Reef 1 and Reef 2
    Mineralisation
      * Positive initial results from Aircore drilling on Kenyan Joint Venture
    Properties


ABG is pleased to announce initial positive results from exploration drilling
on the Bulyanhulu project from both surface and underground drill programmes,
as well as Aircore drilling from the Joint Venture properties in Kenya. Key
intersections from the exploration programmes include: 
Bulyanhulu Reef 1 Western Extensions: 
* BGMDD0054W1:  1.64m @ 11.7g/t Au from 1,434m incl. 0.68m @ 23.8g/t Au from 


    1,435m
      * BGMDD0054W2:  4.0m @ 8.42g/t from 1,637m incl. 1.0m @ 24.3g/t Au from
    1,638m
    Bulyanhulu Reef 2 East Deeps:

  * UX4700-407: 1.28m @ 76.7g/t Au from 1,203m including 0.71m @ 108g/t Au from
    1,204m
    West Kenya Joint Venture Aircore Drilling:

  * KDAC0152: 6m @ 30.9 g/t Au from 29m
      * KDAC0161: 3.5m @ 4.20 g/t Au from 47m
    Bulyanhulu Western Extension Step Out Drilling - Reef 1

In Q4 2013 ABG commenced a deep-hole exploration programme to test the
potential Western extension of the Reef 1 gold system at Bulyanhulu. The
programme is targeting an area located between 400 metres and 1,200 metres west
of the current Bulyanhulu Reef 1 resource area and is testing a potential new
zone and plunge extensions of the Main Zone within the mine to depths of
between 1.0 kilometre and 2.5 kilometres vertical.

The results from the first two holes to intersect Reef 1, located approximately
400m west of the current resource area, both returned significant
intersections:

  * BGMDD0054W1:  1.64m @ 11.7g/t Au from 1,434m incl. 0.68m @ 23.8g/t Au from
    1,435m
      * BGMDD0054W2:  4.0m @ 8.42g/t from 1,637m incl. 1.0m @ 24.3g/t Au from
    1,638m


These holes are potentially significant in demonstrating that reserve grade
gold mineralisation and average reef widths continue west of the mine which
would open the potential for a significant expansion of the footprint of
Bulyanhulu. The drilling programme will continue through 2014 and will comprise
a further approximate 15,000 metres of diamond core drilling from the three
planned drill sites including 18-23 daughter holes utilising conventional
wedging and navigational drilling. This programme will form an important part
of our assessment of how to most effectively develop the mine over the
long-term. 
Fig 1: Reef 1 Long Section showing location of Western Extension Programme 
See www.africanbarrickgold.com for picture 
Bulyanhulu East Deeps Underground Drilling - Reef 2 
The East Deeps drilling programme is targeting down dip mineralisation of the
Bulyanhulu Reef 2 system which is outside the current resource block. The
programme is being drilled from an underground location and is aimed at adding
high grade gold resources on the East Zone. 
Drilling commenced in Q3 2013 with the results received from one hole to date
returning the following significant intersections: 
* UX4700-407: 1.28m @ 76.7g/t Au from 1,203m including 0.71m @ 108g/t Au from 
1,204m 
Whilst the ultimate target was Reef 2 mineralisation, due to the location of
the drill pad, the hole also intersected Reef 1, returning 0.50m @ 62.8g/t Au
from 134.7m. 
The Reef 2 significant intersection has proved continuity at depth of the
mineralisation with high grade. Should this be confirmed by further results,
this has the potential to add significantly to the mine resource and increase
the life of mine. An additional 3 holes are targeted for completion during
early 2014 at which time the programme will be reviewed before more drilling is
undertaken. 
Fig 2: Reef 2 Long Section showing drill programme for East Deeps Underground 
See www.africanbarrickgold.com for picture 
Fig 3: Reef 2 Cross Section showing pierce points of drill Programme for East
Deeps Underground 
See www.africanbarrickgold.com for picture 
Kenya - West Kenya JV and Advance Gold JV Properties 
In Kenya, exploration programmes have consisted of soil sampling and Aircore
drilling across our two joint venture properties, the Advance Gold JV
Properties and the West Kenya JV Properties. A total of 15,656 soil samples
have been collected across the projects and they have delineated and expanded
more than 45 existing and new kilometre scale soil anomalies. On the Advance
Gold JV Properties we have completed the drilling of 325 Aircore holes for
12,494 metres with results received for 192 holes. Over 20% of the holes
assayed to date have returned significant intercepts of greater than 0.1 g/t
Au. 
Fig 4: Map of gold in soil anomalies within the Kenya JV License areas 
See.www.africanbarrickgold.com for picture 
Initial results from these 192 reconnaissance Aircore drill holes include 44
significant intercepts (≥0.1g/t Au) from drilling within Kakamega Dome, and 
of
these 10 holes returned assays >0.5g/t Au including: 
* KDAC0125: 3m @ 3.35 g/t Au from 29m 


      * KDAC0135: 10m @ 1.75 g/t Au from 0m
      * KDAC0152: 6m @ 30.9 g/t Au from 29m
      * KDAC0161: 3.5m @ 4.20 g/t Au from 47m


Average drilling depth from the Aircore drilling is relatively shallow at 30
metres and the KDAC0152 hole ended in mineralisation. 
The extensive soil sampling and the Aircore drilling programme have formed the
bulk of our planned exploration programme in Kenya in 2013 and these very
promising initial results have reaffirmed our belief in the prospectively of
the land package. The Aircore drilling programme continues, with more results
expected in Q1 2014 from additional scout holes and infill drill lines and will
be integrated together with the soil sampling and mapping that has taken place
in 2013 to continue to enhance our understanding of the licence area and to
assist in the targeting of future drilling programmes. 
Fig 5: Aircore significant intercepts on newly mapped provisional Kakamega Dome
Camp geology 
See www.africanbarrickgold.com for picture 
The Bulyanhulu brownfields exploration and West Kenya greenfields exploration
form the bulk of our 2014 planned exploration activity and these positive
results underpin our confidence in the assets and demonstrate the potential for
resource additions as we move forward. 
ENQUIRIES 
For further information contact: 
African Barrick Gold plc +44 (0)207 129 7150 
Andrew Wray, Chief Financial Officer
Giles Blackham, Investor Relations Manager 
Bell Pottinger +44 (0)207 861 3232 
Daniel Thöle 
About ABG 
ABG is Tanzania‟s largest gold producer and one of the largest gold producers
in Africa. We have three producing mines, all located in Northwest Tanzania,
and several exploration projects at various stages of development in Tanzania
and Kenya. We have a high-quality asset base, solid growth opportunities and a
clear strategy of optimising, expanding and growing our business. 
Maintaining our licence to operate through acting responsibly in relation to
our people, the environment and the communities in which we operate is central
to achieving our objectives. 
ABG is a UK public company with its headquarters in London. We are listed on
the Main Market of the London Stock Exchange under the symbol ABG and have a
secondary listing on the Dar es Salaam Stock Exchange. Historically and prior
to our initial public offering (IPO), our operations comprised the Tanzanian
gold mining business of Barrick Gold Corporation, our majority shareholder. 
Disclaimer and forward-looking statements 
This announcement is for information purposes only and does not constitute an
invitation or offer to underwrite, subscribe for or otherwise acquire or
dispose of any securities of ABG in any jurisdiction. 
This announcement includes "forward-looking statements" that express or imply
expectations of future events or results. Forward-looking statements are
statements that are not historical facts. These statements include, without
limitation, financial projections and estimates and their underlying
assumptions, statements and information regarding plans, objectives and
expectations with respect to future production, exploration programmes,
operations and projects, costs, products, services and the operational review,
and statements regarding future performance. Forward-looking statements are
generally identified by the words "plans," "expects," "anticipates,"
"believes," "intends," "estimates" "will" and other similar expressions. All
forward-looking statements involve a number of risks, uncertainties and other
factors, many of which are beyond the control of ABG, which could cause actual
results and developments to differ materially from those expressed in, or
implied by, the forward-looking statements. Although ABG's management believes
that the expectations reflected in such forward-looking statements are
reasonable, ABG cannot give assurances that such statements will prove to be
correct. Accordingly, investors should not place reliance on forward-looking
statements in this announcement. Any forward-looking statements in this
announcement only reflect information available at the time of preparation.
Subject to the requirements of the Disclosure and Transparency Rules and the
Listing Rules or applicable law, ABG explicitly disclaims any obligation or
undertaking publicly to release the result of any revisions to any
forward-looking statements in this announcement that may occur due to any
change in ABG's expectations or to reflect events or circumstances after the
date of this announcement. 
END 
-0- Jan/15/2014 07:00 GMT