AFRICAN BARRICK GOLD PLC: West Kenya Exploration Update

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


         West Kenya Exploration Continues to Provide Positive Results          

ABG is pleased to announce further positive results from our grass roots
exploration programmes in Kenya where we are currently undertaking successful
exploration drilling and surface Induced Polarisation ("IP") geophysical
surveys.

Assay results from a further 327 reconnaissance Aircore drill holes testing
existing gold-in-soil anomalies along the Liranda Corridor on the south side of
the Kakamega Dome have been returned underlining the prospectivity of the
tenements, with results including:

  * KDAC0312: 3m @ 15.2 g/t Au from 41m and 9m @ 1.71 g/t Au from 62m
      * KDAC0361: 39.5m @ 0.81 g/t Au from 9m, including 6m @ 2.26 g/t Au
      * KDAC0376: 9m @ 2.57 g/t Au from 57m


The Aircore results to date are very encouraging given the current line spacing
of the Aircore traverses varies between 400 metres and 800 metres and the
average depth of drilling to date is a relatively shallow 40-50 metres. Infill
traverses will be undertaken as part of phase two of the programme before
targets will be ranked for testing by more advanced reverse circulation and
diamond drilling. 
In addition to the Aircore programme, we continue to undertake extensive soil
sampling of the licence area with a further 3,323 samples collected in Q1 2014
with over 50 gold-in-soil anomalies now delineated for follow-up work (Figure
1). 
In tandem with this, we have commenced gradient IP and Resistivity across
selected gold-in-soil anomalies. These surveys aim to target mineralisation
associated with sulphides and/or resistive lithologies, structures or
alteration. Seven anomalies have been covered by IP surveys to date for
approximately 88 line kilometres, with four targets showing distinct
resistivity and/or chargeability zones coincident with the gold-in-soil
anomalies and should be considered as priority targets for future drilling
programmes. 
Commenting on the results, Brad Gordon CEO of African Barrick Gold, said: "We
are greatly encouraged by the continued early success of our grassroots
programme in Kenya. This represents round 60% of our greenfields exploration
budget in 2014 and is designed to delineate priority targets ahead of a future
investment decision subject to the evolution of the draft Mining Act. This
early success is a result of applying our extensive knowledge base from
operating in Tanzania for over a decade to a new jurisdiction and we continue
to look to further diversify our exploration portfolio outside of our current
operating areas." 
See www.africanbarrickgold.com for picture 
in the Kenya JV Project with the location of the areas in which ground IP grids
are planned across specific gold-in-soil anomalies. Map overlain on RTP
magnetic image. 
Aircore Drilling: 
In late 2013, Aircore drilling commenced targeting soil anomalies across the
Kakamega Dome gold camp and to date 741 holes have now been drilled for a total
of 28,061 metres. In January 2014, we announced initial results from 192
Aircore holes, including notable results from 10 holes that returned assays >
0.5g/t Au including 6m @ 30.9 g/t Au, 3m @ 3.35 g/t Au, 3.5m @ 4.20 g/t Au and
10m @ 1.75 g/t Au. 
Since the January 2014 announcement, we have continued the Aircore drilling
programme across the Kakamega Dome gold camp, as well as continuing regional
mapping and soil sampling programmes. Aircore drilling to date has been focused
on the Liranda Corridor, a major west-northwest to east-southeast trending
structural zone, continuous over 20km in the West Kenya Project, along the
south side of the interpreted Kakamega Dome. In addition to the Liranda
Corridor, several northeast-southwest trending structural zones cross cutting
the Liranda corridor and highlighted by gold-in-soil anomalism have also been
targeted by Aircore drilling traverses. 
We have now received and compiled results for a further 327 Aircore holes and
we are continuing to intersect gold anomalism in the Aircore drilling, with a
further 116 holes to date returning anomalous results (>0.1g/t Au). In total,
we have now intersected zones of >0.50g/t Au in 51 Aircore holes out of 519
holes assayed to date with highlighted intersections from the recent results
including (refer also to Figure 2 below): 
* KDAC0312: 3m @ 15.2 g/t Au from 41m & 9m @ 1.71 g/t Au from 62m 


      * KDAC0349: 6m @ 1.11 g/t Au from 63m
      * KDAC0361: 39.5m @ 0.81 g/t Au from 9m, incl. 6m @ 2.26 g/t Au
      * KDAC0366: 20.5m @ 0.93 g/t Au from 24m, incl. 6m @ 2.58 g/t Au
      * KDAC0369: 17m @ 0.62 g/t Au from 27m
      * KDAC0376: 9m @ 2.57 g/t Au from 57m
      * KDAC0408: 4m @ 3.18 g/t Au from 108m, incl. 1m @ 10.5 g/t Au
      * KDAC0501: 6m @ 1.68 g/t Au from 6m, incl. 3m @ 3.12 g/t Au
    See www.africanbarrickgold.com for picture

Figure 2: Selected significant Aircore intercepts along the Liranda Corridor on
the southern side of the Kakamega Dome (New results in yellow boxes, and
previously released results in white boxes). Grades shown are the best
composite intersections per hole in grams per tonne of gold.

These encouraging Aircore results confirm the presence of significant gold
mineralisation in weathered bedrock throughout the Liranda Corridor. The
drilling programme will continue through into H2 2014 with a further 200
Aircore drill holes for 10,000 metres planned. The systematic and comprehensive
programmes represent a spend of approximately US$4 million in 2014 and will
enable the ranking of the five to ten priority targets for future advanced
reverse circulation and diamond drilling programmes.

ENQUIRIES

For further information contact:

African Barrick Gold plc                +44 20 7129 7150                       

Andrew Wray, Chief Financial Officer

Giles Blackham, Investor Relations Manager

Bell Pottinger                          +44 207 861 3800                       

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- Apr/15/2014 06:09 GMT


 
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