Barrick Mining Corporation · TSX:ABX

Barrick Mining — Barrick Gold — Goldman Sachs Basic Materials Conference 2010

16 slides from Barrick Mining's conference presentation, Jun 4, 2010

1. Slide 1: The Gold Industry Leader

   The Gold Industry Leader Goldman Sachs Basic Materials Conference New York – June 2‐4, 2010

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, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, con

3. Slide 3: A Compelling Investment Case

   A Compelling Investment Case Investment Case for Gold ƒ Strong fundamentals Investment Case for Barrick ƒ Capturing benefits of rising gold prices – record Q1 net income; annualized return on equity of 18%(1) ƒ High quality diversified asset base – growing production at lower costs – expanding margi

4. Slide 4: Gold and Liquidity

   Gold and Liquidity Gold Spot Price (US$/oz) Global Liquidity (US$ trillions) 1,400 10.5 1,200 9.0 1,000 7.5 800 6.0 600 4.5 400 3.0 200 1.5 0 0 82 84 86 88 90 92 94 96 98 00 02 04 06 08 10 Global Liquidity: FX Reserves + US MBase 3 Sources: DundeeWealth Economics, IMF, Federal Reserve Gold ETF Deman

5. Slide 5: Gold and the Euro

   Gold and the Euro Euro/US Dollar Gold Spot Price (US$/oz) 1.66 1260 1.58 1140 1.50 1020 1.42 900 1.34 780 1.26 660 1.18 540 2007 2008 2009 2010 Source: DundeeWealth Economics 5 Net Official Sector Sales (tonnes of gold) 663 ƒ Net official sector sales dropped to 41 tonnes in 2009 479 484 ƒ Net buyin

6. Slide 6: Scarcity Value and Outlook

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

7. Slide 7: Q1 2010 Operating Highlights

   Q1 2010 Operating Highlights Gold Total Net Production Cash Costs(1) Cash Costs(1) Moz 2.08 2.08 $US/oz $US/oz 484 484 9% 19 1.76 1.76 % 442 442 404 404 15% 342 332 1 300 300 Q1 07 Q1 08 Q1 07 Q1 08 Q1 09 Q1 07 Q1 10 Q1 08 Q1 09 Q1 10 Q1 09 Q1 10 (1) Refer to final slide #1 9 Q1 2010 Record Financia

8. Slide 8: Q1 2010 Record Financial Results

   Q1 2010 Record Financial Results Net Income Adjusted Operating US$M Net Income(1) Cash Flow 758 US$M US$M 1051 741 1051 104 149 201 % % % 371 298 349 349 Q1 09 Q1 10 Q1 09 Q1 10 Q1 09 Q1 07 Q1 08 Q1 10 (1) Refer to final slide #1 11 2010 Outlook ounces 7.6-8.0 higher production and millions lower co

9. Slide 9: Margin Expansion

   Margin Expansion ~1200 Current Spot Total Cash Costs(1) vs Gold Prices US$ per ounce 745- Margin(1) Avg. Realized Price(1) 985 775 872 519 429 621 545 276 439 265 443 466 425- Total Cash Cost 214 345 455 280 225 05 06 07 08 09 10E (1) See final slide #1 13 Margin Expansion ~1200 Current Spot Net Tot

10. Slide 10: Proven & Probable Gold Reserves

    Proven & Probable Gold Reserves(1)(1) ounces millions 139.8 138.5 ƒ Grew reserves 123.1 124.6 for the fourth consecutive year 88.6 ƒ Gold industry’s largest unhedged reserves 2005 2006 2007 2008 2009 (1) At Dec. 31, 2009. See final slide #3 15 History of Reserve Growth THROUGH ACQUISITION AND EXPLOR

11. Slide 11: Balanced Portfolio

    Balanced Portfolio 2009 P&P Reserves North America North America 2010E Production 40% Africa 12% North America South 39% America Australia 35% Pacific 13% Africa 8% South America 28% Australia South Africa Pacific 25% America Australia Pacific ƒ Industry’s Largest Reserves and Production Mine Projec

12. Slide 12: Impact of Low Cost Mines

    Impact of Low Cost Mines ~2.4 million low cost ounces(2) + CERRO CASALE ƒ Three new low cost + REKO DIQ mines in three years CORTEZ + DONLIN CREEK HILLS(1) PUEBLO PASCUA- LAMA + KABANGA Nickel VIEJO Q1 2010 Q4 2011 Q1 2013 (1) See final slide #2 (2) See final slide #4 19 Cortez Hills in Production ƒ

13. Slide 13: Pueblo Viejo Project Update

    Pueblo Viejo Project Update ƒ In line with $3.0B pre-production capital budget(1) (100%) ƒ On track for first production Q4 2011 ƒ Construction nearly 20% complete ƒ Over 2/3 of capital committed ƒ 625-675 Koz to Barrick’s account at total cash costs of $250- $275/oz(1,2) (1) See final slide #2 (2)

14. Slide 14: Pascua-Lama Project Update

    Pascua‐Lama Project Update ƒ On track for first production Q1 2013 ƒ In line with $2.8-$3.0B pre-production capital budget(1) ƒ 750-800 Koz at total cash costs of $20-$50/oz(1,2) ƒ 1/3 of capital committed ƒ Detailed engineering is ~95% complete Crusher Platform Excavation (1) See final slide #2 (2)

15. Slide 15: Projects in Feasibility

    Projects in Feasibility Gold Copper Nickel Barrick’s share Barrick’s share of resources(1) of resources(1) Reko Diq, Pakistan (37.5%) B lbs M oz B lbs DONLIN CK. ƒ Feasibility being finalized and is 2.6 under review REKO DIQ KABANGA Inferred 8.4 0.5 18.4 Inferred Inferred REKO DIQ M&I Donlin Creek,

16. Slide 16: In Closing

    In Closing ƒ Positive outlook for gold ƒ Exceptional leverage to the gold price – large, diversified unhedged production and reserves ƒ Strong earnings and cash flow ƒ On track to deliver higher production at lower cash costs in 2010 ƒ Cortez Hills delivered on time and budget ƒ Pueblo Viejo and Pas

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