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Barrick Completes Acquisition of PNG Properties

December 12, 2007

TORONTO, ONTARIO -- (MARKET WIRE) -- 12/12/07 -- Barrick Gold Corporation (TSX: ABX)(NYSE: ABX) announced today that it completed its acquisition of the Kainantu gold mine and over 2,900 square kilometers of highly prospective exploration licenses in Papua New Guinea from Highlands Pacific Limited (ASX: HGL). The transaction was previously announced on October 25, 2007 when the parties entered into a definitive purchase and sale agreement. Barrick is now in a position to commence a comprehensive exploration program on this extensive land package that includes a number of advanced porphyry copper-gold and epithermal gold targets and review opportunities at the Kainantu mine.

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.

INVESTOR CONTACT: 
Deni Nicoski Vice President, Investor Relations 416) 307-7410 Email: dnicoski@barrick.com MEDIA CONTACT: Vincent Borg Senior Vice President, Corporate Communications (416) 307-7477 Email: vborg@barrick.com
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information included in this press release, including any information as to our future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." The words "expect", "will", "intend", "estimate" 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 management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Barrick to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: changes in the worldwide price of gold or certain other commodities (such as fuel and electricity) and currencies; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; employee relations; the speculative nature of gold exploration and development, including the risks of diminishing quantities or grades of reserves; contests over title to properties and the risks involved in the exploration, development and mining business. These factors are discussed in greater detail in the Company's most recent Form 40-F/Annual Information Form on file with the US Securities and Exchange Commission and Canadian provincial securities regulatory authorities. The Company 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.

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Gold  $ 1,254.94 -1.53 -0.12% Volume: December 13, 2017
ABX NYSE  $ 14.11 +0.47 +3.45% Volume: 15,858,712 December 13, 2017
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Gold  $ 1,254.94 -1.53 -0.12% Volume: December 13, 2017

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