Barrick Mining Corporation · TSX:ABX

Barrick Mining — Barrick Gold — Merrill Lynch Global Metals, Mining and Steel Conference 2004

16 slides from Barrick Mining's conference presentation, May 12, 2004

  1. Slide 1: Building Mines, Building Value

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Building Mines, Building Value FORWARD LOOKING STATEMENT Certain statements included herein, including those regarding production, costs, development schedules and other statements that expre

  2. Slide 2: Gold Price Performance

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Gold Price Performance 425 “Sustainable gold rally” 400 375 350 325 300 275 2002 2003 2004 Leverage to Gold ƒ Reserves: 86 M oz (proven & probable) ƒ Resources: 25 M oz (measured & indicated)

  3. Slide 3: Silver Exposure / Asset Base – Mines and Projects

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Silver Exposure ƒ Tremendous leverage to silver prices ƒ Will produce about 17 M oz of silver in 2004 ƒ 835 million ounces of contained silver in gold reserves ƒ One of the world’s largest si

  4. Slide 4: Growth Profile – Target Production 2004-2007

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 NORTH AMERICA Eskay Creek Geopolitical Hemlo Holt-McDermott Diversity Meikle Betze-Post 2004E 2003 Round Mt. PRODUCTION RESERVES 28% 60% 44% 15% SOUTH AMERICA EAST AFRICA 13% 20% 13% 7% Tulaw

  5. Slide 5: Building Mines – Veladero, Argentina

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Building Mines – Veladero, Argentina POTENTIAL ƒ Gold reserves: 11.1 M oz ƒ Production E: 525–550,000/yr ƒ Average cash cost est: $155–165/oz (subject to exchange rate fluctuations and applic

  6. Slide 6: Veladero Project – Camp and Administration

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Veladero Project – Camp and Administration Building Mines Building Value Veladero Project – Truck Shop Building Mines Building Value 6

  7. Slide 7: Veladero Project – Fleet Assembled, Stripping Commenced

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Veladero Project – Fleet Assembled, Stripping Commenced Building Mines Building Value Waste Veladero / Pascua-Lama Pascua-Lama Pit Waste Pit CHILE ARGENTINA Waste Filo Federico Pit Amable Pit

  8. Slide 8: Building Mines – Lagunas Norte, Peru

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Building Mines – Lagunas Norte, Peru Alto Chicama District POTENTIAL ƒ Gold reserves: 7.2 M oz ƒ Production est: 535–560,000/yr ƒ Average cash cost est: $135–145/oz PLAN ƒ Open pit - crushing

  9. Slide 9: Building Mines – Cowal, Australia / Tulawaka, Tanzania

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Building Mines – Cowal, Australia POTENTIAL ƒ Gold reserves: 2.5 M oz ƒ Gold resources: 1.6 M oz ƒ Production est: 220–230,000/yr ƒ Average cash cost est: $230–245/oz PLAN ƒ Open pit - CIL ƒ

  10. Slide 10: Reserve Development and Replacement

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Reserve Development and Replacement ƒ Virtually replaced 2003 reserves ƒ Mined below average reserve grade in 2003 ƒ Focusing on replacing and growing in 2004 – Create long-term value – Provi

  11. Slide 11: Resources to Execute Strategy

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Resources to Execute Strategy Financial Strength ƒ “A” rated balance sheet ƒ Capable of self-financing our development program without equity dilution ƒ Adopted a no-hedge policy ƒ 17% of res

  12. Slide 12: Industry Dynamics – Low Growth Rates

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Industry Dynamics – Low Growth Rates Growth Rate at the 4 Other Majors: ’04 – ’07F millions of ounces 25 2% CAGR PDG 20 GF 15 ANG 10 5 NEM 0 04F 05F 06F 07F Source: Average of Research and co

  13. Slide 13: Beyond 2007 – Pascua-Lama

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Beyond 2007 ƒ Pascua-Lama – world-class long life asset – part of a new mining camp with Veladero – updated feasibility study expected mid year ƒ Consistent investment in exploration ƒ Opport

  14. Slide 14: Beyond 2007 – Exploration Strategy

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Beyond 2007 – Exploration Strategy ƒ More than 95 projects in 9 countries ƒ > 2 million ounce greenfield gold deposits; reserve additions in proximity of existing assets ƒ 6 high priority cou

  15. Slide 15: Robust and Balanced Pipeline

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 Robust and Balanced Pipeline STAGE BUDGET Dee, Rossi, Reserve Development Goldstrike, 26% E. Arch, Chocolate Reef Goldstrike S. Pit, Advanced Drilling Ruby Hill, Ren 19% +4 other projects La

  16. Slide 16: The Case for Barrick

    BARRICK GOLD CORPORATION Merrill Lynch – Global Metals, Mining and Steel Conference Boston – May 11-13, 2004 The Case for Barrick ƒ Construction of all four new mines has begun ƒ Unrivaled growth and projected lowest cash costs among top five producers through 2007 ƒ Focus on continued growth beyond

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