Slide 1: Cortez Site Visit
Cortez Site Visit June 4, 2015 1
Slide 2: Cautionary Statement on Forward-Looking Information
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects, plans or future financial or operating performance constitutes “forward-looking statements”. All statements, ot
Slide 3: Agenda
Agenda Safety Operations Overview Highlights / Expansion Opportunities Site Overview Goldrush / Reserves / Resources Regional Opportunities 3
Slide 4: Safety Performance
Safety Performance Zero fatalities in 45-year history of Cortez Total Recordable Incident Frequency Rate Cortez - Total Recordable Incident Frequency Rate (TRIFR) 3.50 2.90 3.00 2.53 2.44 2.50 2.09 2.00 1.73 1.61 1.68 1.29 1.50 0.90 1.00 0.50 0.00 4
Slide 5: Cortez − Highlights
Cortez − Highlights One of Barrick’s 5 core gold mines in the Americas World class resource: – Proven and Probable Reserves: 9.9 M oz(1) – Measured and Indicated Resources: 3.5 M oz(1) Proven low cost producer: – 2014 Cash Costs: $498/oz(2) – 2014 All-In Sustaining Costs: $706/oz(2) Operationa
Slide 6: Cortez Camp − Prolific Mining History
Cortez Camp − Prolific Mining History 1930s Gold Acres The Cortez Camp has a long history of mining dating 1990s Pipeline back almost 150 years 1960s Cortez Gold 2010s Cortez Hills 1980s Horse Canyon 1860s Cortez Silver Cortez Miners 1889 6
Slide 7: Development History
Development History Pipeline deposit discovered in 1991 First production in 1994 Cortez Hills discovered in 2002 Acquired through Placer Dome transaction in 2006 Record of Decision received in 2008 First production from Cortez Hills in 2010 7
Slide 8: Site Overview – Cortez Hills
Site Overview – Cortez Hills Conveyor to processing Portal to Waste Rock underground Primary Crusher Truck Shop Cortez Hills Open Pit (CHOP) Cortez Hills Underground (CHUG) 8
Slide 9: Site Overview – Pipeline
Site Overview – Pipeline Process Plant and Offices Tailings Storage Facility Pipeline Pit Waste Dump Waste Dump Area 30 Heap Leach Area 30 Extension Leach Plant 9
Slide 10: Cortez Hills − Open Pit Reserves
Cortez Hills − Open Pit Reserves Pediment Cortez Hills 10
Slide 11: Pipeline − Open Pit Reserves
Pipeline − Open Pit Reserves Crossroads Pipeline GAP 11
Slide 12: Open Pit Mining
Open Pit Mining Conventional truck/shovel operation Nominal 475,000 tons per day (tpd) Strip ratio 7:1 12 12
Slide 13: Mining Fleet and Equipment
Mining Fleet and Equipment 25 Liebherr T282B haul trucks 30 Caterpillar 795F haul trucks 2 P&H 4100 XPB/XPC shovels 3 P&H 2800 XPB shovels 1 EX-5500 excavator 1 L2350 loader 8 Rubber tire dozers 9 Crawler dozers 6 Cat graders (16H and 24H) 5 Atlas Copco PV drills 4 DrillTech drills (SP55 and D75K) 6
Slide 14: Underground Mining
Underground Mining Drift and fill method – 1,700 ore tpd (2,100 total tpd) Fully mechanized mining fleet Advanced Water Mgmt System 14 14
Slide 15: Processing – Overview
Processing – Overview 14,000 tpd CIL mill commissioned in 1997 2 heap leach facilities – Pipeline and Cortez Hills Refractory ore shipped to Goldstrike for processing through roaster or TCM circuit 15 15
Slide 16: Cortez Process Flowsheet
Cortez Process Flowsheet BARRICK Milling Oxide Each Mill 4,500hp 14,000 TPD » » ) 5 » eG mel {crusher He a {esc (ation =) Refining S P, set J om /\ CIC and CiL = bed dno / X \ | Thickener 1Gyor, 1 Jaw 3 trains Appx. 30 Million Sq Ft Run of ; . si = lhe Ore [Leaching { Elution 4 Refining | Mae ‘ a ——
Slide 17: Cortez – 2015 Outlook
Cortez – 2015 Outlook(1) 2015E production: 825,000 ─ 900,000 ounces 2015E AISC: $760-$835 per ounce (1) See final slide #3. 17 17
Slide 18: Opportunities – Operational Excellence
Opportunities – Operational Excellence Open Pit – short interval control Underground – bulk mining potential Capital efficiency – integrating into LOM plans Process Plant – installing advanced process control system 18 18
Slide 19: Opportunities ─ Cortez High Grade Underground Expansion
Opportunities ─ Cortez High Grade Underground Expansion Limits of the Cortez Hills Open Pit Lower Zone have not yet Breccia been defined Zone Below 3,800 ft. Middle Zone Reserves is primarily 3800 ft. Resources oxide and higher Open ? Renegade Zone grade than current Open to UG mine Open ? the S
Slide 20: Opportunities − Goldrush Discovery
Opportunities − Goldrush Discovery 20
Slide 21: Cortez Camp − Endowment
Cortez Camp − Endowment Cortez Camp 18 Moz production to date 9.9 Moz reserves(1) 3.5 Moz M&I resources(1) 1.2 Moz inferred resources(1) Portal Cortez Hills Open and Conceptual untested Exploration Decline Goldrush 10.6 Moz M&I resources(1) 4.9 Moz inferred resources(1) (1) See final slide #1. 21 21
Slide 22: Goldrush Discovery
Goldrush Discovery(1) Red Hill (northern portion) discovered and drilled 2004 – 2008 Goldrush (southern portion) discovered late 2009 Initial resource of 3.5 million inferred ounces reported in 2011 System continuity confirmed in 2011-2012 Total resource doubled twice 10.6 Moz of Measure
Slide 23: Goldrush ̶ 70% of Resource in M&I
Goldrush ̶ 70% of Resource in M&I Portal High-grade potential untested and open to Cortez the north Hills Mine Goldrush Deposit 10.6 Moz M&I(1) 4.9 Moz Inferred(1) 0 miles 1 2 3 4 (1) See final slide #1. 23
Slide 24: 4 miles of defined strike length, strong continuous mineralization
Siliclastic Rocks 12ft @ 0.40 opt EOY 2014 Grade x Thickness Less than 5 oz-ft 5 - 10 oz-ft Crows 4 miles of defined 10 - 20 oz-ft Nest 20 - 50 oz-ft Carbonate Greater than 50 oz-ft Rocks 103ft @ 0.72 opt strike length 120ft @ 0.73 opt KB Strong, continuous Red Hill Zone 70ft @ 0.73 opt minerali
Slide 25: Goldrush − Long Section
Goldrush − Long Section(1) 4 miles A A’ Crows Roberts Mtns. Nest Thrust Red Hill Corridor North Middle Meadow Meadow 103ft @ 0.72 opt 40ft @ 0.80 opt 120ft @ 0.73 opt 117ft @ 0.63 opt Undifferentiated volcanic rocks & sediments Horse Canyon siltstone (Eastern Assemblage) Wenban limestone (Eastern As
Slide 26: Goldrush − Cross Section
Goldrush − Cross Section(1) B B’ 0.5 miles 70ft @ 0.73 opt Red Hill KB Zone 600 ft Undifferentiated volcanic rocks & sediments Horse Canyon siltstone (Eastern Assemblage) Upper and middle Wenban limestones Lower Wenban limestones Ov – Vinini cherts and siltstones (Western Assemblage) Mineralized hor
Slide 27: Cortez Camp − Geology
Cortez Camp − Geology Eastern Assemblage carbonate rocks (blue) best hosts for Carlin- style deposits Non-Carlin-style deposits (i.e. Hilltop) also occur, but are smaller and lower- grade than Carlin-style Pipeline, Cortez Hills and Goldrush are all covered deposits (no surface expression) 27
Slide 28: Opportunities – Regional Growth
Opportunities – Regional Growth Second shaft Elko Turquoise Ridge South Arturo Reno Goldstrike AREA ENLARGED Elko Carlin Las Vegas Spring Valley Cortez Goldrush Underground expansion Bald Mountain Reno Ruby Hill Carson City Mines Projects Towns Round Mountain JV 28 28
Slide 29: Footnotes
Footnotes 1. As of December 31, 2014. Calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For a breakdown, see pages 26-33 of Barrick’s 2014 Form 40-F/Annual Information Form. 2. Cash costs per ounce and all-in sustaining costs per ounc