TORONTO, October 2, 2012 — Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (Barrick or the "company") has been notified of an unsolicited mini-tender offer made by TRC Capital Corporation ("TRC Capital") to purchase up to 2,500,000 Barrick common shares, or approximately 0.24 percent of Barrick's outstanding common shares, at a price of Cdn$39.05 per share. Barrick does not recommend or endorse this unsolicited mini-tender offer.
Shareholders are cautioned that the mini-tender offer has been made at a 4.69 percent discount below Barrick's closing price on the Toronto Stock Exchange on September 27, 2012, the day before the mini-tender offer was announced.
The company does not endorse TRC Capital's unsolicited mini-tender offer and is not associated with TRC Capital, the mini-tender offer, or the mini-tender offer documentation. TRC Capital has made similar unsolicited mini-tender offers for shares of other public companies. Mini-tender offers are designed to seek less than five percent of a company's outstanding shares, thereby avoiding many disclosure and procedural requirements applicable to most bids under Canadian securities legislation.
The Canadian Securities Administrators ("CSA") have expressed serious concerns about mini-tender offers such as the possibility that investors might tender to a mini-tender offer based upon a misunderstanding of the terms of the offer, including the per securities price available under the offer relative to the market price of such securities. Comments from the CSA on mini-tenders can be found on the Ontario Securities Commission website at: http://www.osc.gov.on.ca/en/SecuritiesLaw_csa_19991210_61-301.jsp. The U.S. Securities and Exchange Commission has also published investor tips regarding mini-tender offers on its website at: http://www.sec.gov/investor/pubs/minitend.htm.
According to TRC Capital's offer documents, Barrick shareholders who have already tendered their shares may withdraw their shares at any time before 12:01 am (Toronto time) on October 30, 2012 by following the procedures described in the offer documents.
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.
Senior Vice President
Investor Relations and Communications
Telephone: +1 416 309-2943
Telephone: +1 416 307-7414