Barrick Mining Corporation · TSX:ABX

Barrick Mining — Barrick Gold — Merrill Lynch Metals & Mining Conference 2007

14 slides from Barrick Mining's conference presentation, May 9, 2007

  1. Slide 1: Barrick Gold Corporation - Merrill Lynch Metals & Mining Conference, Dublin

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information contained or incorporated by reference in this presentation and related material, including any information as to our future financial or operat

  2. Slide 2: Barrick Now / 2006 Highlights

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Barrick Now ƒ Strong global portfolio of operating mines ƒ Largest reserve base ƒ Unrivalled project pipeline ƒ Solid track record of social responsibility ƒ Extensive exploration position on prolific trends ƒ Indust

  3. Slide 3: Creating Leverage / Hedge Book Reduction

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Barrick Now Creating Leverage ‘03-‘04 Share buyback 2003 No new gold hedge policy / hedge reductions ‘05-‘07 Brought five new mines into production Q1 ‘06 Acquired Placer Dome 2006 Consolidated unrivalled pipeline In

  4. Slide 4: First Quarter Highlights

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 First Quarter Highlights ƒ Gold production: 2.03 Moz at $313/oz (1) ƒ Copper: 100 M lbs at $0.81/lb (1) ƒ Corporate Gold Sales Contracts fully eliminated – Resulting lower revenue of $557 million in Q1 ƒ Excluding im

  5. Slide 5: Expanding Margins / Financial Highlights

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Expanding Margins Spot Est. 675 Total Cash Costs vs Realized Gold Prices US dollars per ounce 541 325 -340 439 391 259 386 366 Margin 339 73 212 177 335 177 313 162 282 -350 227 Total 214 Cash 177 189 Cost 02 03 04 0

  6. Slide 6: Global Cash Costs / Increasing P&P Gold Reserves

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Production Global Cash Costs 2006 Cumulative Cost Curve 800 Gold Price ($675) 600 Barrick 2006 Total Cash Costs 400 US$/oz 200 - 0% 27% 44% 72% 89% 100% Cumulative Production (%) (200) Source: GFMS Increasing P&P Gol

  7. Slide 7: Barrick Metals Portfolio

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Barrick Metals Portfolio P&P Reserves and M&I Resources (at December 31, 2006) (1) Gold Copper Contained Silver (2) millions of ounces billions of pounds millions of ounces 123 6.6 964 6 35 48 P&P M&I P&P M&I Gold Go

  8. Slide 8: Development Pipeline Progress / Cortez Hills Highlights

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Development Pipeline Progress EXPLORATION FEASIBILITY PERMITTING CONSTRUCTION OPERATIONS Cortez Hills Pascua-Lama Pueblo Viejo Buzwagi Donlin Creek Fedorova Sedibelo Kabanga Reko Diq Exploration Cortez Hills Highligh

  9. Slide 9: Pascua-Lama and Pueblo Viejo Highlights

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Pascua-Lama Highlights ƒ World-class gold/silver deposit ƒ Capital cost of $2.3-2.4 billion ƒ Annual production (1st 5 years): 750-775 kozs at $40-50/oz (1) ƒ Major silver producer ƒ Growth in a core region for Barri

  10. Slide 10: Buzwagi Highlights / Projects Update

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Buzwagi Highlights ƒ Fiscal stability has been received ƒ EIA approval expected in second quarter ƒ Detailed engineering progressing to plan ƒ Procurement of mining processing equipment underway Projects Update Donli

  11. Slide 11: Barrick Now - Project Resources

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Barrick Now Kabanga Sedibelo Fedorova > 20Moz Au > 5Moz Au Target Regions Barrick Now P&P M&I Inferred Projects Minerals Reserves(1) Resources Resources Cortez Hills Gold Moz 37 15.4 8.6 Pascua-Lama Silver Moz(2) 742

  12. Slide 12: Exploration Targets / 2007 Operations Guidance

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Exploration Targets(1) Donlin Creek Hemlo Goldstrike & Pipeline Pueblo Viejo Reko Diq Porgera Pascua-Lama Golden Mile > 20Moz Au > 5Moz Au (1) Refer to final slide point #4. Operations 2007 Guidance Gold Copper milli

  13. Slide 13: Gold vs The World's Paper / Valuations

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Gold vs The World’s Paper 160% USD 140% EUR JPY 120% GBP 100% 80% 60% 40% 20% 0% -20% 2002 2003 2004 2005 2006 2007 Source: GFMS Valuations ƒ Barrick is trading at historic low valuation multiples Average Gold Price

  14. Slide 14: Barrick's Opportunities

    Barrick Gold Corporation Merrill Lynch Metals & Mining Conference Dublin - May 2007 Barrick Now Barrick’s Opportunities ƒ Maximize leverage to rising gold prices ƒ Stabilize cost structure to expand gold margins ƒ Expansion in multiples from current historic lows ƒ Surface latent project value ƒ Cap

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