Barrick's Offer for Pangea Successful

July 28, 2000

For Immediate Release

Barrick’s Offer for Pangea Successful

Toronto, July 28, 2000 … Barrick Gold Corporation announced today that its offer for Pangea Goldfields Inc. was successful and over 90% of the common shares of Pangea have been taken up under the offer. Barrick's offer has expired and it will now exercise its right to acquire all the remaining shares of Pangea. Under the offer, each Pangea common shareholder receives C$7 for each Pangea share held.

"We are pleased that Pangea shareholders have chosen so overwhelmingly to accept our offer. The strategic acquisition of Pangea fits into our District Development Program that is well underway in Tanzania, " said Randall Oliphant, President and Chief Executive Officer.

Barrick Gold Corporation is a leading international gold producer with unrivaled financial strength, extensive mine development experience and operational expertise.

Barrick's shares are traded under the ticker symbol ABX on the Toronto, New York, London and Swiss Stock Exchanges and the Paris Bourse.

Inve s tor Con t act :
Belle Mu ll i ga n
Sen i or Vi ce Pre s i den t ,
Inve s tor Rel a ti on s
Tel (416) 307-7442
Fax (416) 861-0727

Ri ch a rd Yo u n g
Di rector,
Inve s tor Rel a ti on s
Tel (416) 307-7431
Fax (416) 861-0727

Media Co n t a ct :
Vi n cent Bor g
Vi ce Pre s i den t ,
Corpora te Com mu n i c a ti on s
Tel (416) 307-7477
Fax (416) 861-1509

In tern et :
h t tp : / / w w w. ba rri ck . co m

Ba rri ck Gold Corpora ti on
Royal Bank Plaza
So uth Tower, Su i te 2700
Toron to, Ca n ad a
M5J 2J3


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