Loulo-Gounkoto’s New Underground Mine Ramps Up As Exploration Continues to Lengthen Advanced’s Life



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All quantities expressed in US {Dollars}

BAMAKO, Mali, Oct. 02, 2021 (GLOBE NEWSWIRE) — Loulo Gold Mine Barrick Gold Company (NYSE:GOLD)(TSX:ABX) – The Loulo-Gounkoto gold complicated is about to stay a serious contributor to the Malian financial system effectively into the longer term because it continues to interchange the ore depleted by mining, Barrick president and chief government Mark Bristow stated right here immediately.

Mines operated in Mali by Barrick and its predecessor Randgold have spent some $8 billion within the nation within the type of taxes, royalties, salaries and funds to native suppliers over the previous 24 years. So far this 12 months, it has paid $318 million to the federal government in taxes, royalties and dividends and invested greater than $13 million in group wellbeing tasks starting from well being and schooling to financial growth initiatives reminiscent of its Enterprise Accelerator program, designed to equip budding entrepreneurs with administration expertise.


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Talking at a media briefing, Bristow stated Loulo-Gounkoto was on monitor to satisfy its annual manufacturing steerage, with its new underground mine at Gounkoto — the complicated’s third underground operation — ramping up manufacturing. By means of profitable exploration it’s on monitor to extend mineral reserves web of depletion for the third successive 12 months and promising outcomes from the Yalea Ridge and Gounkoto-Faraba targets reaffirm the potential for additional life-of-mine extensions.

“Loulo-Gounkoto is among the world’s biggest gold mining operations and it continues to substantiate its standing as a member of the trade’s elite Tier One1 membership in addition to the most important non-public sector contributor to Mali’s GDP,” Bristow stated.


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“Along with the large worth it creates for its stakeholders, Loulo-Gounkoto additionally aspires to a excessive degree of social accountability. Virtually 40% of workers have been vaccinated in opposition to Covid-19 and 335 individuals have been vaccinated within the surrounding group. Safety employees and different workers who come into contact with the group have undergone rigorous coaching in human rights. Work can also be below technique to safe the brand new certification standardized by the Worldwide Cyanide Administration Institute.”

Loulo-Gounkoto is sustaining its dedication to the employment and development of host nation nationals, in keeping with Barrick’s world coverage, and other people from the close by Kenieba village have been efficiently skilled to function key tools on the new Gounkoto underground mine. The complicated is sort of fully staffed and managed by Malian residents.


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President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386

Group Regional Supervisor, West Africa
Mahamadou Samaké
+223 66 75 61 36

Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
E-mail: barrick@dpapr.com

Web site: www.barrick.com

Endnote 1

A Tier One Gold Asset is an asset with a reserve potential to ship a minimal 10-year life, annual manufacturing of no less than 500,000 ounces of gold and complete money prices per ounce over the mine life which might be within the decrease half of the trade value curve.

Cautionary Assertion of Ahead-Trying Data

Sure info contained or integrated by reference on this press launch, together with any info as to our technique, tasks, plans, or future monetary or working efficiency, constitutes “forward-looking statements”. All statements, aside from statements of historic truth, are forward-looking statements. The phrases “proceed”, “ramp up”, “on monitor”, “promise”, “potential”, “aspire”, “preserve”, “dedication”, “worth”, “below manner”, “steerage”, “would”, “ought to” and comparable expressions establish forward-looking statements. Specifically, this press launch incorporates forward-looking statements together with, with out limitation, with respect to: Loulo-Gounkoto’s manufacturing steerage and efficiency; the ramp up of manufacturing from the brand new underground mine at Gounkoto; Loulo-Gounkoto’s potential to proceed to extend mineral reserves web of depletion; alternatives for additional life-of-mine extensions from the Yalea Ridge and Gounkoto-Faraba targets; and Barrick’s dedication to Mali and funding within the growth of native communities, together with to assist Covid-19 vaccination initiatives, human rights coaching, and native employment and growth applications.


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Ahead-looking statements are essentially primarily based upon various estimates and assumptions together with materials estimates and assumptions associated to the elements set forth beneath that, whereas thought-about cheap by the Firm as on the date of this press launch in mild of administration’s expertise and notion of present situations and anticipated developments, are inherently topic to vital enterprise, financial, and aggressive uncertainties and contingencies. Identified and unknown elements might trigger precise outcomes to vary materially from these projected within the forward-looking statements, and undue reliance shouldn’t be positioned on such statements and knowledge. Such elements embrace, however aren’t restricted to: fluctuations within the spot and ahead worth of gold, copper, or sure different commodities (reminiscent of silver, diesel gas, pure fuel, and electrical energy); the speculative nature of mineral exploration and growth; adjustments in mineral manufacturing efficiency, exploitation, and exploration successes; the likelihood that future exploration outcomes is not going to be according to the Firm’s expectations; dangers that exploration information could also be incomplete and appreciable further work could also be required to finish additional analysis, together with however not restricted to drilling, engineering and socioeconomic research and funding; danger of loss as a result of acts of conflict, terrorism, sabotage and civil disturbances; dangers related to tasks within the early phases of analysis, and for which further engineering and different evaluation is required; failure to adjust to environmental and well being and security legal guidelines and laws; timing of receipt of, or failure to adjust to, crucial permits and approvals; adjustments in nationwide and native authorities laws, taxation, controls or laws and/ or adjustments within the administration of legal guidelines, insurance policies and practices, expropriation or nationalization of property and political or financial developments within the Mali and different jurisdictions wherein the Firm or its associates do or could keep on enterprise sooner or later; harm to the Firm’s repute because of the precise or perceived incidence of any variety of occasions, together with destructive publicity with respect to the Firm’s dealing with of environmental issues or dealings with group teams, whether or not true or not; dangers related to new ailments, epidemics and pandemics, together with the consequences and potential results of the worldwide Covid-19 pandemic; litigation and authorized and administrative proceedings; worker relations together with lack of key workers; elevated prices and bodily dangers, together with excessive climate occasions and useful resource shortages, associated to local weather change; and availability and elevated prices related to mining inputs and labor. Barrick additionally cautions that its steerage could also be impacted by the unprecedented enterprise and social disruption brought on by the unfold of Covid-19. As well as, there are dangers and hazards related to the enterprise of mineral exploration, growth and mining, together with environmental hazards, industrial accidents, uncommon or sudden formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper focus losses (and the chance of insufficient insurance coverage, or incapacity to acquire insurance coverage, to cowl these dangers).


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Many of those uncertainties and contingencies can have an effect on our precise outcomes and will trigger precise outcomes to vary materially from these expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements aren’t ensures of future efficiency. All the forward-looking statements made on this press launch are certified by these cautionary statements. Particular reference is made to the newest Kind 40-F/Annual Data Kind on file with the SEC and Canadian provincial securities regulatory authorities for a extra detailed dialogue of a number of the elements underlying forward-looking statements and the dangers which will have an effect on Barrick’s potential to realize the expectations set forth within the forward-looking statements contained on this press launch.

Barrick disclaims any intention or obligation to replace or revise any forward-looking statements whether or not because of new info, future occasions or in any other case, besides as required by relevant regulation.

Loulo-Gounkoto's New Underground Mine Ramps Up As Exploration Continues to Lengthen Advanced's Life Loulo-Gounkoto's New Underground Mine Ramps Up As Exploration Continues to Lengthen Advanced's Life

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