Cautionary Statement on Forward-Looking Information
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans, or future
financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “growth”, “potential”,
“deliver”, “future”, “support”, “estimated”, “represent”, “target”, “plan”, “extend”, “continues”, “would” and similar expressions identify
forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: Barrick’s ability to convert resources into reserves and future reserve replacement; potential
mineralization and metal or mineral recoveries; Barrick’s focus on Tier One Assets and its potential for growth while delivering sustainable returns; the potential for Reko Diq and Lumwana to become Tier One Assets; Barrick’s
forward-looking production guidance, including our five and ten year outlooks for gold and copper; our plans and expected completion and benefits of our growth projects, including the Lumwana Super Pit, Reko Diq, Fourmile and new Naranjo tailings
storage facility at Pubelo Viejo; mine life and production rates, including anticipated production growth from Barrick’s organic project pipeline and reserve replacement; Barrick’s decision regarding additional drilling and commencement of
a pre-feasibility study at Fourmile; Barrick’s global exploration strategy and planned exploration activities; our pipeline of high confidence projects at or near existing operations; potential
mineralization and metal or mineral recoveries; the potential for further growth at Nevada Gold Mines including at Turquoise Ridge, Leeville Underground and Reona; Barrick’s sustainability strategy; and expectations regarding future price
assumptions, financial performance and other outlook or guidance.
Forward-looking statements are necessarily based upon a number of estimates and
assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current
conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the
forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as
silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; risks associated with projects in the early stages
of evaluation, and for which additional engineering and other analysis is required; failure to comply with environmental and health and safety laws and regulations; changes in national and local government legislation, taxation, controls or
regulations and/ or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in the jurisdictions in which the Company or its affiliates do or may carry on
business in the future; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of the targeted investments and projects will meet the Company’s capital allocation objectives and
internal hurdle rate; the possibility that future exploration results will not be consistent with the Company’s expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further
evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; disruption of supply routes which may cause delays in construction and mining activities, including disruptions in the supply of key mining
inputs due to the invasion of Ukraine by Russia; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental
matters or dealings with community groups, whether true or not; risks associated with new diseases, epidemics and pandemics; the impact of inflation, including global inflationary pressures driven by supply chain disruptions and global energy cost
increases following the invasion of Ukraine by Russia; litigation and legal and administrative proceedings; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource
shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including
environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate
insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and
could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of
the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and
Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the
forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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PRESS RELEASE |
