Barrick Mining Corporation · TSX:ABX

Barrick Mining — Barrick Gold — Bank of America Merrill Lynch Global Metals & Mining Conference 2009

19 slides from Barrick Mining's conference presentation, May 12, 2009

1. Slide 1: The Gold Industry Leader

   Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 The Gold Industry Leader Bank of America Merrill Lynch Global Metals & Mining Conference Barcelona, May 2009 1 CAUTIONARY STATEMENT ON FORWARD‐LOOKING INFORMATION Certain information contai

2. Slide 2: The Gold Industry Leader; The Gold Market

   Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 The Gold Industry Leader Top 10 One of Canada’s Largest Companies 138.5Moz Largest Gold Reserves (1) 7.7Moz Largest Gold Production in 2008 ‘A’ rated Strong Financial Position World Dow Jon

3. Slide 3: Global Reflation; Gold ETF Demand at Record Level

   Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Global Reflation 60 42 Gold Price and Global Liquidity 48 35 (year-over-year percentage change; correlation: .63) 36 28 24 21 12 14 0 7 -12 0 Global liquidity: Reserves + US Mbase -24 -7 -3

4. Slide 4: Global Reserves; Mine Supply Declining

   Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Global Reserves ƒ ~$7.3 trillion in total reserves – 2/3 in USD Japan China 977.3 Russia ƒ $5.1 trillion 1,756.7 441.4 collectively held in 16 countries Sources: Martin Murenbeeld, IMF Marc

5. Slide 5: Bullish on Gold; Maintaining Leadership

   Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Bullish on Gold ƒ Geo-political and financial risks ƒ Global monetary and fiscal reflation will remain necessary for years to come ƒ Investment demand in long-term uptrend – record ETF infl

6. Slide 6: Production and Cost Outlook; Margin Expansion

   Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Production and Cost Outlook ounces millions 7.7-8.1 ƒ Expecting higher production and lower total cash costs in 7.2-7.6 2010(1) 2009 2010 6 (1) See final slide #5 11 Margin Expansion Net Ca

7. Slide 7: Margin Expansion; 2009 Gross Cash Flow (Pre-Tax)

   Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Margin Expansion Total Cash Costs(1) vs Gold Prices US$ per ounce 900 Assumed Average 870 Realized Price 425- Margin 619 427 450(2) 543 439 274 392 263 450- Total Cash Cost 443 475(2) (2009

8. Slide 8: Cost Management; Growing Reserves & Resources

   Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Cost Management ƒ Lower cost projects ƒ Supply Chain Management – capturing lower consumable prices ƒ Improved labour market conditions ƒ Mine and processing optimization 15 Growing Reserve

9. Slide 9: Growing Reserves & Resources; Balanced Portfolio

   Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Growing Reserves & Resources(1) Copper Reserves Copper Resources Contained Silver pounds billions pounds billions within gold reserves ounces billions 12.47 1.09 6.39 1.03 +6% 6.20 +3% +133

10. Slide 10: Impact of Low Cost Mines; Buzwagi Pours First Gold

    Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Impact of Low Cost Mines ƒ Four new low cost mines coming on stream over the next four years ~2.6 Q1 2010 1st production(1) million Cortez Q1 2013 1st production low cost Q4 2011 Hills 1st

11. Slide 11: Cortez Hills Project Update

    Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Cortez Hills Project Update ƒ First production expected in Q1 2010 (1) ƒ ~1.0 M oz/year (1) ƒ Total cash costs of ~$350-$400/oz (2) ƒ In line with $500 million (2) capital budget (1) See fi

12. Slide 12: Pueblo Viejo Project Update; Building Pascua-Lama

    Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Pueblo Viejo Project Update ƒ On track with $2.7 billion (1) capital budget ƒ +25 year mine life ƒ Reserves increased to 22.4 M oz (2) (1) See final slide #7 (2) See final slide #1 New Equi

13. Slide 13: Bottom of Industry Cost Curve; Building Pascua-Lama

    Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Bottom of Industry Cost Curve Total Cash Cost/Oz (net of by-products) $900 800 700 Pascua-Lama 600 $20-$50 (first five year average) 500 400 300 200 100 0 0 10 20 30 40 50 60 70 80 90 100 S

14. Slide 14: Pascua-Lama and Veladero; Gold Projects In Feasibility

    Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Antofagasta Veladero Camp Zaldívar Veladero Truck shop Veladero Mine Tailings Process Plant ARGENTINA Tunnel CHILE CHILE Atacama Pascua-Lama Vallenar Ore body Pascua-Lama Crushing & Conveyo

15. Slide 15: Operating and Financial Highlights; Strong Financial Position

    Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Operating and Financial Highlights 2008 Q1-09 Production (ounces millions) 7.66 1.76 Net cash costs(1) (dollars per ounce) 337 404 (dollars millions) Revenue 7,913 1,827 Net Income 785 371

16. Slide 16: Compelling Valuation

    Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Compelling Valuation Multiple Avg. Gold Price Gold 50 $900 40 $800 30 $700 ABX Price / EPS* 20 S&P 500 Price / EPS $600 10 ABX Price / OCFPS* $500 0 $400 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

17. Slide 17: Exceptional Gold Leverage

    Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Exceptional Gold Leverage ƒ Positive outlook for gold ƒ Exceptional leverage to the gold price – largest production and reserves ƒ Strong track record of reserve replacement ƒ Advanced proj

18. Slide 18: Appendix: Unhedged Reserves

    Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 Counterparties and Trading Agreements Appendix 35 Unhedged Reserves ounces millions Total Reserves 138.5 Unhedged Reserves = 133.1 5.4 Fixed 4.1 Floating 65.0 M+I Resources 9.5 Total Projec

19. Slide 19: MTM & Revenue Gold Price Sensitivity; Counterparties

    Barrick Gold Corporation Bank of America Merrill Lynch - Global Metals & Mining Conference Barcelona, May 2009 MTM & Revenue Gold Price Sensitivity billions of US dollars (assumes 7.5 Moz annual sales over 10 years) $1,500 spot gold price Revenue 113 8 MTM* $1,300 98 7 $1,100 83 6 $900 68 5 MTM Floa

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