Barrick Mining Corporation · TSX:ABX

Barrick Mining — CIBC 14th Annual Whistler Institutional Investor Conference (January 2011)

13 slides from Barrick Mining's conference presentation, Jan 21, 2011

  1. Slide 1: The Gold Industry Leader

    The Gold Industry Leader CIBC 14th Annual Whistler Institutional Investor Conference January 21, 2011

  2. Slide 2: Cautionary Statement on Forward-Looking Information

    CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information contained in this presentation, including any information as to our strategy, projects, plans or future financial or operating performance and other statements that express management's expectations or estimates of future perfor

  3. Slide 3: A Compelling Investment Case

    A Compelling Investment Case Investment Case for Gold  Strong fundamentals Investment Case for Barrick  Capturing benefits of high gold and copper prices – record Q3 net income and operating cash flow; margin expansion – annualized return on equity of ~18%(1) – strong financial position; dividend

  4. Slide 4: Global FX Reserves; Net Official Sector Gold Sales

    Global FX Reserves  2/3 of FX reserves are in US dollars  $7.4 trillion  FX reserves are exploding held by 19 US$ trillions countries 9 8 China 7 2.85 6 Japan 1 1.0 0 5 $6.6 Taiwan 0.4 Russia 0.4 4 trillion increase 3 2002-2010 2 1 0 79 89 99 10 2010 Source: DundeeWealth Economics 3 Net Official

  5. Slide 5: Scarcity Value; Margin Expansion

    Scarcity Value US$ trillions 60 Global Financial Assets 60 total $ $117 trillion 50 50 Private Equities q Debt declined by 40 40 45% in 2008 Managed Assets 30 Equities $40 trillion illi 30 Govt. Debt 20 20 10 Gold Equities 10 & Gold ETFs $0.4 trillion(1) 0 0 Sources: McKinsey & Company, IMF, Barclay

  6. Slide 6: Record Financial Results; Leverage to Gold

    Record Financial Results Net Income Adjusted Op. Cash Flow to Sept. 30, Net Income(1) to Sept. 30, US$M tto S Sept. t 30 30, US$M 3,346 US$M 2 378 2,378 2,329 69% 1,978 93% 1,205 09 10 09 10 09 10 -4,487 Hedge Book Elimination (1) See final slide #1 7 Leverage to Gold Barrick EPS & CFPS vs Gold  Ba

  7. Slide 7: Strong Financial Position; Balanced Portfolio

    Strong Financial Position A-Rated A Rated Industry’ss Highest Rated Balance Sheet Industry $4.3B Cash Balance(1) $1.5B Undrawn Line of Credit(1) $3.3B Strong Operating Cash Flow(2) 20% Increase in Dividend d d Announced d in Q3(3) (1) As of Sept. 30, 2010 (2) For Nine months ended Sept. 30, 2010 (3)

  8. Slide 8: History of Reserve Growth; Barrick's Strategy

    History of Reserve Growth THROUGH ACQUISITION AND EXPLORATION proven and probable – millions of ounces ~140 (1) 135 TOTAL EXPLORA- EXPLORA TION 20 18 Moz 1990 100 103 Divestitures 2009 TOTAL TOTAL MINED ACQUIRED (1) See final slide #3 11 Barrick’s Strategy Focused on adding value…  Increase gold an

  9. Slide 9: Production Growth; Cortez Hills - Exceeds Expectations

    Production Growth (1) Gold Production 9.0 ounces millions 7.65-7.85 7.4 2009 2010 5-Year Target 5 (1) See final slide #6 13 Cortez Hills - Exceeds Expectations  Cortez property for 9 months ended Sept. 30, 2010: – production d ti off 936 K Koz att ttotal t l cash h costs t off $307/ $307/oz(1)  Su

  10. Slide 10: Pueblo Viejo Project Update; Pascua-Lama Project Update

    Pueblo Viejo Project Update  Initial production expected in Q4 2011(1)  In line with $3.0B $3 0B pre pre-production production capital budget((2)) (100%)  625-675 Koz to Barrick at total cash costs of $275-$300/oz(2,3)  ~80% of capital committed  Construction almost 50% complete Ore Oxygen Ore

  11. Slide 11: Cerro Casale Project Update; Next Generation

    Cerro Casale Project Update  Detailed engineering about 30% complete  ~$4.2B ~$4 2B pre-production pre production capital budget (100%)(1)  Barrick’s 75% share of production: – 750-825 Koz gold and 170-190 M lbs copper – Total cash costs of $240-$260/oz(1,2) Hydrologic drilling for water supply r

  12. Slide 12: Value Creation Opportunities; Compelling Valuation

    Value Creation Opportunities  Turquoise Ridge super pit potential(1) – Annual mining rate could conceptually increase to up to ~800 Koz/yr based on a potential open pit ore body of +20 million ounces(2)(3) (100% basis)  Lagunas L Norte N t sulfides: lfid extends t d mine i life lif by b 4 years wi

  13. Slide 13: In Closing; Footnotes

    In Closing  Positive outlook for gold and exceptional leverage to the gold price  Consistent operational execution contributed to record financial results  Focused on value creation and increasing key metrics on a per share basis  Targeting 9 Moz of annual production within the next 5 years  Ca

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