Barrick Appoints Executive Project Director for Pascua-Lama

TORONTO, ONTARIO--(Marketwired - Nov 13, 2014) - Barrick Gold Corp. (NYSE:ABX)(TSX:ABX) (Barrick or the "company") today announced the appointment of Sergio Fuentes as Executive Project Director for Pascua-Lama. Mr. Fuentes was most recently Vice President, Projects for Codelco and has nearly 30 years of mining industry experience, with a proven track record of engineering, optimizing and constructing complex mining projects, including high-altitude operations in the Andes.

As Executive Project Director, Mr. Fuentes will focus on optimizing detailed engineering, improving the project's economics and developing a robust execution plan for remaining construction activities at Pascua-Lama. He will work with the project leadership team to advance Pascua-Lama in an environmentally responsible manner, in compliance with legal and regulatory requirements. In the short term, he will lead the completion of final engineering for the water management system in Chile and will work to reduce ongoing care and maintenance expenditures at the project.

Mr. Fuentes will work closely with Eduardo Flores, Executive Director, Chile and Guillermo Calo, Executive Director, Argentina to ensure alignment of all project activities in both Chile and Argentina and will support the development of enduring partnerships with governments, communities and other stakeholders in both countries.

A decision to restart the Pascua-Lama project will depend on resolution of permitting and legal matters in Chile and improved project economics. The company will only proceed with construction if the project meets minimum return-on-investment thresholds.

Mr. Fuentes has a degree in Mining Engineering from the University of Chile and a Masters in Mining Engineering from Queen's University in Ontario, Canada. He spent 10 years in Codelco's El Salvador Division (Chile) before joining Metálica Consultores, a leading mining consulting firm where he rose to the position of Managing Partner. Mr. Fuentes re-joined Codelco in 2007 as Project Director for Chuquicamata Underground, where he was responsible for the largest development project undertaken by Codelco to date. He later became Vice President, Projects in 2010, overseeing all major project development for Codelco. In addition to strong technical expertise, Mr. Fuentes has worked with local communities to build support for mining projects, with a strong focus on environmental sustainability.

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