STATEMENT IN RELATION TO AFRICAN BARRICK GOLD PLC
TORONTO - Barrick Gold Corporation (NYSE: ABX, TSX: ABX) ("Barrick") notes the recent press speculation regarding Barrick's holding in African Barrick Gold plc ("ABG").
ABG isF subject to the UK City Code on Takeovers and Mergers (the "Code") and in accordance with its obligations under the Code, Barrick confirms that it is in preliminary discussions with China National Gold Group Corporation ("China Gold") regarding its holding in ABG.
As noted in Barrick's 2012 Second Quarter Report, Barrick has adopted a renewed focus on maximizing shareholder value through a disciplined capital allocation program which includes optimizing Barrick's portfolio of assets and maximizing returns on investment and free cash flow. The preliminary discussions relating to ABG form part of this program. Barrick remains both committed to and confident in ABG, its qualified and experienced management team and its portfolio of world-class assets.
Discussions are at an early stage, and there can be no certainty that these discussions will result in the acquisition of all or part of Barrick's holding in ABG.
The Panel Executive has confirmed to Barrick on an ex parte basis that, in view of Barrick's 73.9 per cent stake in ABG, the 28 day deadline referred to in Rule 2.6(a) of the Code will not apply to China Gold in respect of this announcement.
To the extent that any offer is made for Barrick's 73.9 per cent stake in ABG, then an offer will be made to all shareholders in ABG in accordance with the Code.
Further announcements will be made in due course as appropriate.
