Barrick Completes Partial Divestment of African Barrick Gold plc Holding

Barrick Completes Partial Divestment of African Barrick Gold plc Holding 
Continued Progress on Portfolio Optimization 
TORONTO, ONTARIO -- (Marketwired) -- 03/11/14 --  
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,
DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA,
AUSTRALIA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH
SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. 
Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick" or the
"Seller") today announced that, further to its release of March 10,
2014, it has completed the divestment of 41.0 million ordinary shares
in African Barrick Gold plc ("ABG") (the "Placing Shares"),
representing in aggregate approximately 10.0 percent of the issued
ordinary share capital of ABG, at a price of 275 pence per ordinary
share (the "Placing"), raising gross proceeds of approximately GBP
113 million (US$188 million).  
"ABG has made excellent progress with its Operational Review to
increase production and reduce operating and capital costs, and the
results to date have been favorably received by the market," said
Jamie Sokalsky, Barrick's President and CEO. "Barrick continues to
support ABG management as they advance the operational turnaround and
make other efforts to improve the business. After this transaction,
Barrick will still be a controlling shareholder, but this transaction
allows us to realize some liquidity from our holding in ABG in
keeping with our disciplined capital allocation framework and our
ongoing program to optimize and lower the average cost of our
portfolio." 
Barrick continues to hold approximately 262 million ordinary shares
of ABG, representing approximately 64 percent of the issued ordinary
share capital of ABG.  
Barrick has undertaken not to dispose of any further ABG ordinary
shares without the consent of the Joint Bookrunners for a period of
120 days following completion of the Placing, except that consent
shall not be required (i) in the event of an offer for the entire
issued share capital of ABG in accordance with the City Code on
Takeovers and Mergers or (ii) with respect to a single sale of 10-20
percent of Barrick's remaining shareholding in ABG to a single
corporate or strategic purchaser as part of a single transaction,
provided that such purchaser agrees to be bound by an equivalent
restriction for the remainder of the lock-up period. 
UBS Limited, J.P. Morgan Securities plc (which conducts its UK
investment banking business under the name J.P. Morgan Cazenove) and
RBC Europe Limited acted as Joint Bookrunners in relation to the
Placing (the "Joint Bookrunners"). 
Enquiries:  
UBS Limited, Ted Larkin, Simon Lyons, Tel: +44 (0)20 7567 8000 
J.P. Morgan Cazenove, Greg Chamberlain, Ben Davies, Tel: +44 (0)20
7742 4000 
RBC Europe Limited, Jonathan Stephens, Stephen Foss, Tel: +44 (0)20
7653 4000 
Important Notice:  
This announcement is for information purposes only and shall not
constitute or form part of an offer to buy, sell, issue, acquire or
subscribe for, or the solicitation of an offer to buy, sell, issue,
acquire or subscribe for, any securities, nor shall there be any sale
of securities in any jurisdiction in which such offer, solicitation
or sale would be unlawful.  
In particular, the securities referred to herein have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "Securities Act") and may not be offered, sold
or transferred, directly or indirectly, within the United States
except pursuant to an exemption from, or in a transaction not subject
to, the registration requirements of the Securities Act and the
securities laws of any state or other jurisdiction of the United
States. No public offering of the securities referred to herein is
being made in the United Kingdom, the United States, Australia,
Canada, Japan, South Africa or any other jurisdiction. 
The distribution of this announcement and the Placing of the Placing
Shares as set out in this announcement in certain jurisdictions may
be restricted by law. No action has been taken that would permit an
offering of such shares or possession or distribution of this
announcement or any other offering or publicity material relating to
such shares in any jurisdiction where action for that purpose is
required. Persons into whose possession this announcement comes are
required to inform themselves about, and to observe, such
restrictions. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.  
UBS Limited ("UBS"), J.P. Morgan Securities plc (which conducts its
UK investment banking activities as J.P. Morgan Cazenove) ("JPMC")
and RBC Europe Limited ("RBC"), each of which is authorised by the
Prudential Regulation Authority and regulated in the United Kingdom
by the Financial Conduct Authority and the Prudential Regulation
Authority, are acting for the Seller in connection with the Placing
and no-one else and they will not be responsible to anyone other than
the Seller for providing advice in relation to the Placing or any
other matter referred to in this announcement.  
This announcement has been issued by and is the sole responsibility
of the Seller. No representation or warranty, express or implied, is
or will be made as to, or in relation to, and no responsibility or
liability is or will be accepted by UBS, JPMC or RBC or by any of
their respective affiliates or agents as to, or in relation to, the
accuracy or completeness of this announcement or any other written or
oral information made available to or publicly available to any
interested party or its advisers, and any liability therefore is
expressly disclaimed. 
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", "intend", "continue", "may", "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 Barrick, 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 price of gold and copper or
certain other commodities; changes in national and local government
legislation, taxation, controls, regulations, expropriation or
nationalization of property and political or economic developments in
jurisdictions in which Barrick does or may carry on business in the
future; diminishing quantities or grades of reserves; increased
costs, delays, suspensions and technical challenges associated with
the construction of capital projects; the impact of inflation;
fluctuations in the currency markets; operating or technical
difficulties in connection with mining or development activities; the
speculative nature of mineral exploration and development, including
the risks of obtaining necessary licenses and permits; contests over
title to properties, particularly title to undeveloped properties;
risk of loss due to acts of war, terrorism, sabotage and civil
disturbances; litigation; business opportunities that may be
presented to, or pursued by, Barrick; our ability to successfully
integrate acquisitions or complete divestitures; employee relations;
availability and increased costs associated with mining inputs and
labor; and, the organization of our African gold operations and
properties under a separate listed company. 
In addition, there are risks and hazards associated with the business
of mineral exploration, development and mining, including
environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins, flooding and gold bullion, copper
cathode or gold/copper concentrate 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. 
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.
Contacts:
INVESTOR CONTACT: Amy Schwalm
Vice President, Investor Relations
(416) 307-7422
aschwalm@barrick.com 
MEDIA CONTACT: Andy Lloyd
Vice President, Communications
(416) 307-7414
alloyd@barrick.com
 
 
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