Barrick Mining Corporation · TSX:ABX

Barrick Mining — Barrick Gold — Q1 2011 Earnings Presentation

15 slides from Barrick Mining's earnings presentation, Apr 27, 2011

  1. Slide 1: First Quarter 2011 Results

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Building Value in Everything We Do First Quarter 2011 Results Conference Call / Webcast 1 CAUTIONARY STATEMENT ON FORWARD‐LOOKING INFORMATION Certain information contained in this presentation, including any information as to our str

  2. Slide 2: Q1 2011 Results: Financial and Operating Results

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Q1 2011 Results Aaron Regent Jamie Sokalsky Peter Kinver Kelvin Dushnisky President and CEO Executive Vice President Executive Vice President Executive Vice President and CFO and COO Corporate & Legal Affairs 3 Financial and Operatin

  3. Slide 3: Financial and Operating Results / 2011 Exploration Program

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Financial and Operating Results ounces thousands North America 862 African 1.96 Barrick million 129 ounces 459 498 South America Australia Other 9 Pacific  Total cash costs $437/oz(1)  Net cash costs $308/oz(1) (1) See final slide

  4. Slide 4: Cortez Exceeding Expectations / Pueblo Viejo Project Update

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Cortez EXCEEDING EXPECTATIONS  Q1 production of 366 K oz at total cash costs of $220/oz(1)  Record d off Decision approving SEIS received d in Marchh enabled operation to immediately revert to original scope Mining the Open Pit (1)

  5. Slide 5: Pascua-Lama Project Update / Projects: The Next Generation

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Pascua‐Lama PROJECT UPDATE Process Plant Construction  Initial production expected in Argentina in H1 2013  Pre-production Pre production capital expected to be ~$3.3-$3.6B(1) – >45% of capital committed Tunnel progress from Chile

  6. Slide 6: Turquoise Ridge JV Creating Value

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Turquoise Ridge JV CREATING VALUE  Opportunity to develop large scale open pit to mine lower grade halo concurrently around high grade d core  Scoping study results(1): – potential to significantly increase production from current

  7. Slide 7: Turquoise Ridge Open Pit Evaluation / Zaldívar Primary Sulfides

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Turquoise Ridge JV CREATING VALUE Open Pit Evaluation 5.6 M oz UG reserve orebody(1) conceptual open pit orebody (1) 100% basis; Barrick’s interest is 75%. 13 Zaldívar Primary Sulfides  Opportunity to add significant copper resource

  8. Slide 8: Zaldívar Primary Sulfides / Lagunas Norte Sulfides

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Zaldívar Primary Sulfides  Potential to almost double existing copper production  Completed conceptual engineering study  Prefeasibility and environmental baseline studies expected to be completed in Q2 2012  Feasibility study to

  9. Slide 9: Equinox Deal Highlights / Overview of Equinox

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Equinox Deal Highlights  Equinox realizes compelling value ― support agreement between Barrick and Equinox for C$8.15 per share all-cash recommended offer(1) ― unanimously recommended by Equinox’s Board of Directors  Support Agreem

  10. Slide 10: Investment Considerations / Enhanced Growth Potential

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Investment Considerations  Excellent copper fundamentals g resource with substantial upside  Large p in an excellent region  Currently producing  Expansion potential  Strong financials  Available 19 Enhanced Growth Potential Ba

  11. Slide 11: 2010 Gold Contribution / Q1 2011 Strong Financial Results

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 2010 Gold Contribution Barrick + Equinox Newmont Goldcorp Newcrest Revenue Peer Group Average 81% 82% 87% 73% 84% Gold Gold Gold Gold 18% Other 10% 15% Copper 13% Reserves Peer Group Average 63% 82% 80% 46% 63% Gold Gold Gold Gold 17

  12. Slide 12: Q1 2011 Strong Financial Results / Margin Expansion

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Q1 2011 STRONG FINANCIAL RESULTS Net Adjusted Operating Earnings Net Earnings(1) Cash Flow US$M US$M US$M 1,435 1435 1,130 1130 27% 1,001 1001 1,004 1004 820 820 763 763 32% 22% Q1 10 Q1 11 Q1 10 Q1 11 Q1 10 Q1 11 (1) See final slide

  13. Slide 13: Leverage to Gold / Return on Shareholders' Equity

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Leverage to Gold Barrick EPS & CFPS vs Gold Returns (US$) ( = adjusted) dj d) 600%  Barrick Barrick’ss adjusted net 500% earnings and cash flow (1) growth has significantly 400% outpaced the rise in gold prices over the 300% past 6

  14. Slide 14: Outlook: Bullish on Gold / Investment Case for Barrick

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Outlook BULLISH ON GOLD  Diversifying Role – Up 468% over past 10 yrs (S&P – up 7%)(1)  Price P i supportive ti macroeconomic i environment: i t – quantitative easing – fiscal policies & sovereign debt concerns – trade & current ac

  15. Slide 15: Footnotes

    Barrick Gold Corporation First Quarter 2011 Results April 27, 2011 Footnotes 1. Net cash costs per ounce, net cash margin per ounce, total cash costs per ounce, total cash margin per ounce, total cash costs per pound, adjusted net earnings, adjusted cash flow, return on equity and average realized p

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