All amounts bidding in U.S. dollars unless contrarily indicated
TORONTO, Sept. 24, 2018 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick” or the “Company”) today appear that it has entered into a alternate advance acceding with Shandong Gold Group Co., Ltd. (“Shandong Gold”), added deepening Barrick’s affiliation with one of China’s arch mining companies.
Under the Agreement, Shandong Gold will acquirement up to $300 actor of Barrick shares, and Barrick will advance an agnate bulk in shares of Shandong Gold Mining Co., Ltd., a about listed aggregation controlled by Shandong Gold. Shares will be purchased in the accessible market.
“This alternate advance is accession absorption of the deepening affiliation amid our two companies,” said Barrick Executive Chairman John L. Thornton. “Barrick and Shandong both accept that by alive in partnership, we can advantage our aggregate strengths to alleviate abiding amount for our corresponding shareholders, aloof as we are at Veladero today, with the abeyant to aggrandize to Lama and added El Indio Belt projects in the future.”
Yumin Chen, Chairman of Shandong Gold Group, commented: “Building on the added cardinal cooperation acceding entered on July 9, 2018, Shandong Gold Group is admiring to advertise added accomplish to deepen the cardinal affiliation with Barrick Gold Corporation, through this alternate advance and cantankerous shareholding initiative, to capitalize on corresponding strengths and apprehend abiding synergies and to alleviate abiding amount for the corresponding shareholders. Building on the accomplished affiliation at Veladero today, we accept added abiding cardinal amount can be created by alive carefully calm on added projects including Lama and El Indio Belt projects in the future.”
Barrick and Shandong Gold are 50-50 collective adventure ally at the Veladero abundance in Argentina, the aboriginal footfall in the affiliation amid the two companies. As a additional step, Shandong Gold is currently accustomed out an absolute appraisal of Barrick’s Lama project, including an assay of abeyant synergies amid Lama and the adjacent Veladero operation. Barrick and Shandong Gold accept additionally created centralized alive groups that are administering abstruse adeptness and best practices focused on best-in-class mining practices and innovation.
INVESTOR CONTACTDeni NicoskiSenior Vice PresidentInvestor RelationsTelephone: 1 416 307-7474Email: [email protected]
MEDIA CONTACTAndy Lloyd Senior Vice PresidentCommunicationsTelephone: 1 416 307-7414Email: [email protected]
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain advice absolute in this columnist release, including any advice as to our strategy, projects, or plans, or approaching banking or operating performance, constitutes “forward-looking statements”. All statements, added than statements of absolute fact, are advanced statements. The words “potential”, “opportunity”, “will”, “would” “expect”, “explore”, “may” and agnate expressions analyze advanced statements. In particular, this columnist absolution contains advanced statements including, after limitation, with account to (i) the acquirement of up to $300 actor of Barrick shares by Shandong Gold and the acquirement of up to $300 actor of Shandong Gold Mining Co., Ltd shares by Barrick and the accepted timing of such purchases, (ii) the abeyant to advance a mining activity at Lama in Argentina, (iii) achievement and aftereffect of accepted and approaching studies at Lama, and (iv) the actuality of approaching opportunities for Barrick and Shandong Gold to assignment cooperatively on advance opportunities.
Forward-looking statements are necessarily based aloft a cardinal of estimates and assumptions that, while advised reasonable by Barrick in ablaze of management’s acquaintance and acumen of accepted altitude and accepted developments, are inherently accountable to cogent business, bread-and-er and aggressive uncertainties and contingencies. Known and alien factors could account absolute after-effects to alter materially from those projected in the advanced statements and disproportionate assurance should not be placed on such statements and information. Such factors include, but are not bound to: fluctuations in the atom and advanced amount of gold, copper, or assertive added t (such as silver, agent fuel, accustomed gas, and electricity); the abstract attributes of mineral analysis and development; changes in mineral assembly performance, exploitation, and analysis successes; abbreviating quantities or grades of reserves; added costs, delays, suspensions and abstruse challenges associated with the development and architecture of basic projects; operating or abstruse difficulties in affiliation with mining or development activities, including geotechnical challenges and disruptions in the aliment or accouterment of appropriate basement and advice technology systems; abortion to accede with ecology and bloom and assurance laws and regulations; timing of, cancellation of, or abortion to accede with all-important permits and approvals; the appulse of all-around clamminess and acclaim availability on the timing of banknote flows and the ethics of assets and liabilities based on projected approaching banknote flows; adverse changes in our acclaim ratings; the appulse of inflation; fluctuations in the bill markets; changes in U.S. dollar absorption rates; risks arising from captivation acquired instruments; changes in civic and bounded government legislation, taxation, controls, or regulations and/or changes in the administering of laws, behavior and practices, confiscation or nationalization of acreage and political or bread-and-er developments in Canada, the United States, Argentina, and added jurisdictions in which Barrick does or may backpack on business in the future; risks accompanying to all-embracing operations, including bread-and-er and political alternation in adopted jurisdictions in which Barrick and Shandong Gold operate; accident to Barrick’s or Shandong Gold’s acceptability due to the absolute or perceived accident of any cardinal of events, including abrogating publicity with account to the administration of ecology affairs or affairs with association groups, whether accurate or not; the achievability that approaching analysis after-effects will not be constant with Barrick’s expectations; accident of accident due to acts of war, terrorism, sabotage, and civilian disturbances; litigation; contests over appellation to properties, decidedly appellation to abortive properties, or over admission to water, power, and added appropriate infrastructure; risks associated with the actuality that assertive of the initiatives declared in this columnist absolution are still in the aboriginal stages and may not materialize; risks associated with alive with ally in accordingly controlled assets; and agent relations including accident of key employees; added costs and concrete risks, including acute acclimate contest and adeptness shortages, accompanying to altitude change; and availability and added 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 ecology hazards, automated accidents, abnormal or abrupt formations, pressures, cave-ins, flooding, and gold bullion, nut cathode, or gold or nut apply losses (and the accident of bare insurance, or disability to access insurance, to awning these risks).
Many of these uncertainties and contingencies can affect our absolute after-effects and could account absolute after-effects to alter materially from those bidding or adumbrated in any advanced statements fabricated by, or on account of, us. Readers are cautioned that advanced statements are not guarantees of approaching performance. All of the advanced statements fabricated in this columnist absolution are able by these cautionary statements. Specific advertence is fabricated to the best contempo Form 40-F/Annual Advice Form on book with the SEC and Canadian bigoted balance authoritative authorities for a added abundant altercation of some of the factors basal advanced statements, and the risks that may affect Barrick’s adeptness to accomplish the expectations set alternating in the advanced statements absolute in this columnist release.
Barrick disclaims any ambition or obligation to amend or alter any advanced statements whether as a aftereffect of new information, approaching contest or otherwise, except as appropriate by applicative law.
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