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June 07, 2022

Sale of Shares of Perpetua Resources Corp.

Toronto – Barrick Gold Corporation (“Barrick”) (NYSE:GOLD)(TSX:ABX) announced today that it has disposed of 5,382,587 common shares (“Shares”) of Perpetua Resources Corp. (“Perpetua Resources”) through the facilities of the Nasdaq, Cboe, Direct Edge and NYSE-ARCA (the “Disposition”). The Disposition resulted in gross cash proceeds in the aggregate amount of C$21,729,504 (C$4.04 per common share).

Immediately prior to the Disposition, Barrick had beneficial ownership of, or control and direction over, 5,382,587 Shares, representing approximately 8.5% of the issued and outstanding Shares. Following the Disposition, Barrick does not have beneficial ownership of, or control or direction over, any Shares.

Barrick effected the Disposition for investment portfolio management purposes. Depending on market conditions and other factors, including Perpetua Resources’ business and financial condition, Barrick may in future acquire securities of Perpetua Resources or dispose of some or all of the securities of Perpetua Resources that it may own at any such time.

A copy of the early warning report to be filed by Barrick in connection with the Disposition will be available on Perpetua Resources’ profile on SEDAR at www.sedar.com. A copy may also be obtained by contacting Kathy du Plessis at the phone number below. The corporate office of Barrick is Brookfield Place, TD Canada Trust Tower, Suite 3700, 161 Bay Street, P.O. Box 212 Toronto, Ontario, M5J 2S1. Perpetua Resources’ head office is located at Suite 201 – 405 S. 8th Street, Boise, Idaho 83702.

Enquiries
Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com

Website: www.barrick.com

Cautionary Statement on Forward-Looking Information

Certain information contained in this press release, including any information relating to Barrick’s investment in Perpetua Resources, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “may” and “will” and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the potential for Barrick to acquire securities of Perpetua Resources in future or to dispose of some or all of such securities that Barrick owns at any time. Forward-looking statements are necessarily based upon a number of assumptions, including material assumptions considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies.

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned not to put undue reliance on forward-looking statements which are not guarantees of future events, and speak only as of the date made. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Barrick 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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