Geology of the Lagunas Norte Deposit, Peru

Barrick Gold Corporation

ProEXPLO Feb. 7, 2011

Objectives and Outline

Objectives Geology and controls World-class class characteristics World Outline Significance and history Geologic setting Deposit geology

Location

N
Yanacocha
Cajamarca Trujillo Huaraz

Lagunas Norte Pierina

CAJAMARCA

area enlarged

Otuzco Trujillo j

Huamachuco

Pacific Ocean
Lima

LA LIBERTAD

Lagunas Norte

ANCASH

Pierina
Huaraz

Lagunas Norte Snapshot

High-sulfidation epithermal 4.9Moz produced(1) Grassroots discovery Open pit at 4,000m elevation Oxide heap leach operation First production June 2005

(1) to year end 2009

History of Development
1998: Barrick first interested in area 2000 Sep: Coal concession opened for tender
15 companies reviewed, only Barrick bid

2001 Feb: Drill program begins 2002 Apr: p Initial resource @ 3.5 Moz 2002 Dec: Reserve @ 6.5 Moz 2004 July: Start construction 2005 Q2: End of construction
Cost C t of f construction: t ti US$340 M
4.5 years

2005 June: First gold bar 2009 Dec: ~4.9 Moz produced

Importance
Endowment(1) 6.2Moz contained mined @1.98 gp gpt, , 7.5Moz Reserves @ 1.10 gpt, 0.7Moz Resources (M&I) @ 0.59 gpt Overall Average Grade 1 1.29 29 g/t Au In top 5 HS deposits globally In 2009 1.01 Moz @ 1.65 g/t Cash cost US$138/oz Strip ratio 0.07 (w/o) HS deposits >5Moz
60 50

Production + reserves

40

Au (M Moz )

30

Barrick
20

10

(1) see final slide #1

Regional Setting
Cenozoic volcanics over older basement Well-mineralized Well mineralized district
Au HS epithermal Cu-Au C A porphyries po ph ies Au Mesothermal veins

Corona Minas Conga Michiq.

Yanacocha Lagunas Norte

Pataz

HS deposits
Mid-Miocene Mid Miocene event Near edge of volcanics Near unconformity
50 km
CZ intrusion CZ volcanic rock MZ intrusion i t i MZ sediment. rocks PC & PZ basement

Pierina

Deposit Geology

Andesitic tuffs, flows, domes

Mioce ene

Dacitic - andesitic tuffs domes, tuffs, domes diatreme

Lower Cr retaceous s

Unconformity y
Chimu sandstone + mudstone, coal Chicama siltstone, (mudstone, ( d t sands) d )
500 m

Diatreme

Upp per Jura asic

Deposit Geometry
5200NW

Deposit Geometry

5200

4200

Host Rocks (sedimentary)

4200NW
Laminated siltstone

200 m

Host Rocks
4200NW B A

200 m

Host Rocks
5200NW
Unconformity

200 m

Miocene Volcanics

Cretaceous basement

Alteration
Typical of HS deposits
Silicification (vuggy) Alunite dickite Au with silicification

Differences
Lower abundance of alunite-dickite Limited silicification of sandstone d t Pyrophyllite in mudstones

Mineralization

Dominant Style

Disseminated 15% & breccias

85%

Fractures & breccias

Grade-Thick. GradeAu (g/t x m)

500 - 1000 250 - 500 125 - 250 75 - 125

Faults

50 - 75 25 - 50

500 m

Mineralization (oxide)
4200NW

In sedimentary rocks

Oxide Sulfide

200 m

Mineralization >0.2 g/t Au

Sedimentary rocks Volcanic rocks k

3.7 g/t Au

20 cm

2 cm

Mineralization (oxide)
5200NW

In volcanic rocks

Oxide Sulfide 200 m

Mineralization >0.2 g/t Au

Sedimentary rocks Volcanic rocks k

Mineralization (sulfide)
4200NW

Oxide Sulfide

200 m Breccia Sandstone Volcanic rock

1 cm

1 cm

2 cm

Summary
World-class deposit
4.9Moz Prod. + 7.5Moz Reserves(1), flat lying, mainly oxide High production rates, low cost operation

Key aspects of deposit

Associated with diatreme dome complex Mid Mi Mid-Miocene Near unconformity Mainly l in sandstone d Subdued alteration footprint Different mineralization style

(1) see final slide #1

Lagunas Norte - Peru

Thank you for your attention

Footnotes
1. Total endowment refers to past production, proven and probable reserves, and measured and indicated resources. Reserves calculated as at December 31, 2009 in accordance with National Instrument 43-101 as required q by y Canadian securities regulatory g y authorities. For a breakdown of reserves and resources by y category and additional information relating to reserves and resources, see pages 23 to 33 of Barricks 2009 Form 40-F/Annual Information Form on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities.