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Barrick Extends Bid for Pioneer

October 20, 2006

TORONTO, ONTARIO, Oct 20, 2006 (MARKET WIRE via COMTEX News Network) -- Barrick Gold Corporation (NYSE: ABX)(TSX: ABX)(LSE: BGD)(SWX: ABX) announces that it has extended its offer to acquire all of the outstanding common shares of Pioneer Metals Corporation for Cdn$1.00 in cash per share to 6:00 p.m. (Vancouver time) on November 9, 2006. To date, Barrick has acquired approximately 58.6 million shares of Pioneer.

Copies of the Circular for Pioneer Metals Corporation are available on Barrick's website at www.barrick.com or from the Canadian System for Electronic Document Analysis and Retrieval at www.sedar.com.

Barrick's vision is to be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.

Contacts:
INVESTOR CONTACTS:
Barrick Gold Corporation
James Mavor
Vice President, Investor Relations
(416) 307-7463
Email: jmavor@barrick.com

Barrick Gold Corporation
Mary Ellen Thorburn
Director, Investor Relations
(416) 307-7363
Email: mthorburn@barrick.com

MEDIA CONTACT:
Barrick Gold Corporation
Vincent Borg
Senior Vice President, Corporate Communications
(416) 307-7477
Email: vborg@barrick.com

SOURCE: Barrick Gold Corporation

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