Barrick Mining Corporation · TSX:ABX

Barrick Mining — Barrick Gold — Merrill Lynch Canada 13th Annual Mining Conference 2007

13 slides from Barrick Mining's conference presentation, Sep 6, 2007

  1. Slide 1: Merrill Lynch Canada 13th Annual Mining Conference

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Merrill Lynch Canada 13th Annual Mining Conference September 6-7, 2007 CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information contained or incorporated by reference in this presen

  2. Slide 2: Frequently Asked Questions

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Frequently Asked Questions “Will industry cost pressures continue to erode margins?” “Can Barrick replace its reserves and grow?” “What are Barrick’s plans for its valuable non-gold assets?” “How

  3. Slide 3: Industry Cost Pressures

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Industry Cost Pressures Total Cash Costs Per Ounce 2005 vs 2006 (1) 375 350 325 300 $282 275 15 282 14 Inflation 250 227 net of CI Exchange Royalties & Initiatives $227 21 Rate Taxes - $5 225 Plac

  4. Slide 4: Industry Cost Pressures

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Industry Cost Pressures “Will cost pressures continue to erode margins?” Competitive Advantages: – 2007 cost increase is mainly grade-related – Currency and fuel hedging in place – CI initiatives

  5. Slide 5: Reserve Replacement

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Reserve Replacement “Can Barrick replace its reserves and grow?” ƒ Reserves replaced every year since 2000 ƒ Dominant positions on the world’s best belts ƒ Strong exploration focus 123 Moz(1) 120

  6. Slide 6: Project Pipeline

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Project Pipeline “Can Barrick replace its reserves and grow?” EXPLORATION FEASIBILITY PERMITTING CONSTRUCTION OPERATIONS Buzwagi Cortez Hills Pascua-Lama Pueblo Viejo Donlin Creek Fedorova Sedibel

  7. Slide 7: Projects Contribution

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Projects Contribution Reserves(1) Resources(1) Projects Minerals P&P M&I Inferred Cortez (2) Gold Moz 37 15.4 8.6 Pascua-Lama Silver Moz 742* 44.0* 15.2* Buzwagi Pueblo Viejo Copper M lbs 900* 5,8

  8. Slide 8: Non-gold Assets

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Non-gold Assets “What are Barrick’s plans for its valuable non-gold assets?” Intent is to maximize value of assets… ƒ Kabanga (Ni sulphide - Tanzania) ƒ Sedibelo (PGM - South Africa) ƒ Fedorova (P

  9. Slide 9: Share Performance

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Share Performance “Why haven’t the shares performed better?” Year-to-date returns (to September 4) 8.9% Barrick 6.7% ETF 5.6% Kinross Newmont -5.5% Anglogold Goldcorp -14.5% -15.0% Goldfields -17.

  10. Slide 10: Gold Price Conviction

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Share Performance ETF- “physical bypass” ETF Demand Gold Price (US$B) (US$/oz) $16 $800 $14 $750 $12 $700 $10 $650 $8 $600 $6 $550 $4 $500 $2 $450 $0 $400 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 20

  11. Slide 11: Gold Price Conviction

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Gold Price Conviction Gold Price Distribution – last twelve months 100% 87% 90% 80% 70% 60% 50% 40% 30% 20% 13% 10% 0% 0% 0% Below $500 $500-$550 $550-$600 Above $600 Gold Price Conviction Global

  12. Slide 12: Valuations

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 Gold Price Conviction Growth in Emerging Markets (2Q-2007 vs 2Q-2006) Consumer Gold Demand (tonnes)* GDP Source: GFMS Source: The Economist 91 11.9 90% 12% 75% 10% 9.1 60% 7.9 8% 6.8 45% 6% 32 30

  13. Slide 13: In Closing

    BARRICK GOLD CORPORATION Merrill Lynch Canada 13th Annual Mining Conference Toronto – September 6, 2007 In Closing ƒ Strong margins ƒ Replacing reserves ƒ Robust per share results ƒ Industry’s deepest project pipeline ƒ Track record of building mines ƒ Significant, latent non-gold asset value ƒ Disc

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