Barrick is the gold industry leader, with a portfolio of 26 operating mines and advanced exploration and development projects located across five continents, and large land positions on some of the world’s most prolific and prospective mineral trends. The Company also has the largest reserves in the gold industry, with about 140 million ounces of proven and probable gold reserves¹. In addition, Barrick has 6.5 billion pounds of copper reserves and 1.07 billion ounces of silver contained within gold reserves¹ as of December 31, 2010. In July, 2011, Barrick acquired Equinox Minerals which adds a further 4.5 billion pounds of copper reserves from the Lumwana mine and 1.2 billion pounds of copper reserves from the Jabal Sayid project².

In 2010, the Company produced 7.8 million ounces of gold at total cash costs of $457 per ounce³ or net cash costs of $341 per ounce⁴ and produced 368 million pounds of copper at total cash costs of $1.11 per pound³. For 2011, Barrick expects gold production of 7.6-7.8 million ounces at total cash costs and net cash costs of $460-$475 per ounce³ or $330-$350 per ounce⁴, respectively. The Company also expects 2011 copper production of 450-460 million pounds at total cash costs of $1.60-$1.70 per pound³.

Barrick has a successful track record of mine development, having built seven mines in five years with the most recent completion of Cortez Hills in Nevada in early 2010. Cortez Hills will be followed by the world-class Pueblo Viejo and Pascua-Lama mines with first production expected in mid-2012 and mid-2013, respectively. Pueblo Viejo and Pascua-Lama are anticipated to contribute 1.4-1.5 million ounces of average annual production over their first full five years of operation at total cash costs significantly lower than Barrick’s overall current cash cost profile⁵.

Barrick has the gold industry’s only ‘A’ rated balance sheet and consistent with its practice of paying a progressive dividend, the Board of Directors authorized a quarterly dividend⁶ of 15 cents per share on October 26, 2011, which represents a 25% increase from the previous dividend of 12 cents per share. The Company’s strong earnings and operating cash flows, combined with its positive outlook on the gold price, enables it to continue to make high return investments in its project pipeline and also increase its dividend. Over the last five years, Barrick has had a consistent track record of returning capital to shareholders, increasing its dividend by more than 170%⁷ on a quarterly basis

Barrick was added to the Dow Jones Sustainability Index – World for the fourth consecutive year in 2011 and maintained its listing on the Dow Jones Sustainability Index – North America for the fifth year in a row. Barrick is also the only Canadian mining company to be ranked among the top 100 companies in the world for its sustainability and performance by the NASDAQ OMX CRD Global Sustainability Index.

Barrick’s vision is to be the world’s best gold mining company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner. Shares are traded on the Toronto and New York stock exchanges.

1. Click here for more information regarding reserve and resource measurements.
2. Reserves as reported in Equinox’s 2010 Annual Information Form.
3. Click here for more information regarding the calculation of total cash costs.
4. Click here for more information regarding the calculation of net cash costs. 2011 guidance for net cash costs assumes a market copper price of $3.25 per pound for fourth quarter 2011, which will result in a realized price of about $3.40 per pound, including the impact of our copper collars.
5. Based on the estimated combined average annual production in the first full five years of operation.
6. The declaration and payment of dividends remains at the discretion of the Board of Directors and will depend on the Company's financial results, cash requirements, future prospects and other factors deemed relevant by the Board.
7. Calculated based on converting the 2006 semi-annual dividend of 11 cents per share to a quarterly equivalent.