district developmentTanzania – Lake Victoria Greenstone Belt

BulyanhuluBulyanhulu

Barrick Properties

Barrick Properties

district developmentTanzania – Lake Victoria Greenstone Belt

Pangea properties

Pangea properties

BulyanhuluBulyanhulu

Barrick properties

Barrick properties

Pangea properties

district developmentTanzania – Lake Victoria Greenstone Belt

regional geologyTanzania – Lake Victoria Greenstone Belt

GEITA

BULYANHULU10.5 Moz reserve Barrick Gold Corporation

GOLDEN PRIDE

district developmentTanzania – Lake Victoria Greenstone Belt

Geita

Bulyanhulu

Tulawaka

Golden Pride

Sekenke

Musoma

Bulyanhulu district development

BulyanhuluBulyanhulu

GoldenRidge

• 21 licenses

• 2,000 sq.

km.

Sekenke district development

• 26 licenses

• 2,400 sq.

km.

Sekenke

Geita district development

• 18 licenses

• 1,200 sq.

km.

Geita MineGeita Mine

BulyanhuluBulyanhulu

Tulawaka district development

BulyanhuluBulyanhuluTulawaka

• 14 licences

• 1,000 sq.

km.

Geita

Bulyanhulu

Tulawaka

Golden Pride

Sekenke

Musoma

district developmentTanzania – Lake Victoria Greenstone Belt

Tulawaka district development

BulyanhuluBulyanhuluTulawaka

• 200 km. toBulyanhulu

• 1 million oz.resource

• grade of 19 g/t

Tulawakalongitudinal section – east zone

TDD 15

TDD 17

TRC 499

TRC 514

TRC 511

TRC 510

TDD 38

TDD 12

TDD 39

TDD 50

TRC 503

TDD 28

TRC 466

TRC 504

TRC 467

TRC 486

TRC 484

TRC 485

TDD 20

TRC 488

TRC 489

TDD 27

TRC 490 TRC 498

TRC 508

TRC 509

TRC 491

TRC 487

TDD 36

TDD 37TDD 33

TRC 500

TRC 502

TRC 501

TDD 41

TDD 35

TDD 31TDD 42

TDD 34

TDD 26

TRC 469

TRC 505

TRC 471

TRC 470

TRC 507TRC 506

TDD 24

TDD 32

TRC 441

TDD 21

TDD 19 TDD 25

TDD 29

TRC 512

TRC 513

TDD 49

TDD 16

TDD 13

TDD 14

TDD 40

TDD 47B

TDD 52W1

TDD 30

TDD 51

L 4

+0

0 W

L 3

+0

0 W

L 2

+0

0 W

L 1

+0

0 W

L 0

+0

0

L 1

+0

0 E

L 2

+0

0 E

L 3

+0

0 E

L 4

+0

0 E

L 5

+0

0 W

L 6

+0

0 W

Surface

Mineralized Zone

Mineralized Zone

100 m

New Vein AreaNew Vein Area

Mineralized Zone Mineralized Zone

1200m El.

1150m El.

1100m El.

1050m El.

1000m El.

950m El.

900m El.

ww

w w

ww

ww

w w

ww

ww

w w

ww

ww

previous borehole interceptprevious borehole intercept

recent borehole interceptrecent borehole intercept

proposed borehole interceptproposed borehole intercept

Tulawakalongitudinal section – east zone

TDD 15

TDD 17

TRC 499

TRC 514

TRC 511

TRC 510

TDD 38

TDD 12

TDD 39

TDD 50

TRC 503

TDD 28

TRC 466

TRC 504

TRC 467

TRC 486

TRC 484

TRC 485

TDD 20

TRC 488

TRC 489

TDD 27

TRC 490 TRC 498

TRC 508

TRC 509

TRC 491

TRC 487

TDD 36

TDD 37TDD 33

TRC 500

TRC 502

TRC 501

TDD 41

TDD 35

TDD 31TDD 42

TDD 34

TDD 26

TRC 469

TRC 505

TRC 471

TRC 470

TRC 507TRC 506

TDD 24

TDD 32

TRC 441

TDD 21

TDD 19 TDD 25

TDD 29

TRC 512

TRC 513

TDD 49

TDD 16

TDD 13

TDD 14

TDD 40

TDD 47B

TDD 52W1

TDD 30

TDD 51

L 4

+0

0 W

L 3

+0

0 W

L 2

+0

0 W

L 1

+0

0 W

L 0

+0

0

L 1

+0

0 E

L 2

+0

0 E

L 3

+0

0 E

L 4

+0

0 E

L 5

+0

0 W

L 6

+0

0 W

Surface

Mineralized Zone

Mineralized Zone

100 m

New Vein AreaNew Vein Area

Mineralized Zone Mineralized Zone

1200m El.

1150m El.

1100m El.

1050m El.

1000m El.

950m El.

900m El.

ww

w w

ww

ww

w w

ww

ww

w w

ww

ww

previous borehole interceptprevious borehole intercept

recent borehole interceptrecent borehole intercept

proposed borehole interceptproposed borehole intercept

Tulawakasection – 0+62.5W

bore hole intersectionassay = g/t Au / m

bore hole intersectionassay = g/t Au / m

gold zonegold zone

50

N

15

0 N

25

0 N

1050m

1100m

1150m

upper saprolite

bedrock

lower saprolite

surfacelaterite

25 m

Talus zone TRC 2

53

TRC 2

51

TRC

252

TRC

250

TRC

108

TRC

341

TRC

344

TDD 1

9

6.48/5m6.48/5m

4.90/8m4.90/8m

1.57/1m1.57/1m

25.84/14m25.84/14m

11.10/1m11.10/1m

8.36/4.22m8.36/4.22m

153.97/2.69m153.97/2.69m

VEIN BVEIN B

VEIN A

VEIN A

Bulyanhulu district development

• 21 licenses

• 2,000 sq.

km.

BulyanhuluBulyanhulu

Buly SouthBuly South

ItetemiaItetemia

surface geology

RAB results drilled with coreRAB results drilled with core

significant RAB resultssignificant RAB results

significant RAB results over reef 1significant RAB results over reef 1

developmentdecember 31, 1998

reserves: 3.7 million oz.reserves: 3.7 million oz.

1 km.

1 km.

developmentdecember 31, 1999

reserves: 7.5 million oz.reserves & resources: >10.4 million oz.

reserves: 7.5 million oz.reserves & resources: >10.4 million oz.

2 km.

1.2 km.

developmentaugust 31, 2000

reserves: 10.5 million oz.reserves & resources: >12.0 million oz.

reserves: 10.5 million oz.reserves & resources: >12.0 million oz.

2 km.4 km.

september, 200020 drills working – 18 definition, 2 exploration

2 km.

KMC-615BKMC-615B2.63 m Hthk2.63 m Hthk@ 16.25g/t@ 16.25g/t

KMC-689KMC-6892.42 m Hthk2.42 m Hthk@ 25.85g/t@ 25.85g/t

KMC-727AKMC-727Aresultsresultspendingpending

KMC–590Din progress

KMC–640D2.56 m Hthk@ 25.11g/t

KMC-7071.44 m Hthk@ 5.18g/t

KMC–699KMC–699results results pendingpending

KMC–693A3.78 m Hthk@ 6.34g/t

KMC-700EKMC-700E2.48 m Hthk2.48 m Hthk@ 19.42g/t@ 19.42g/t

september, 200020 drills working – 18 definition, 2 exploration

2 km.

KMC-615BKMC-615B2.63 m Hthk2.63 m Hthk@ 16.25g/t@ 16.25g/t

KMC-689KMC-6892.42 m Hthk2.42 m Hthk@ 25.85g/t@ 25.85g/t

KMC-727AKMC-727Aresultsresultspendingpending

KMC–590Din progress

KMC–640D2.56 m Hthk@ 25.11g/t

KMC-7071.44 m Hthk@ 5.18g/t

KMC–699KMC–699results results pendingpending

KMC–693A3.78 m Hthk@ 6.34g/t

7 km.

KMC-700EKMC-700E2.48 m Hthk2.48 m Hthk@ 19.42g/t@ 19.42g/t

phase I development updategeneral overview

• april 2001 startup

• on budget

phase I development update infrastructure

• 138 km powerline completed

• water pipeline commissioned

phase I development update process facilities

• construction of plant and infrastructure 67% complete

• all major equipment ison site

• mill startup 2001

phase I development update potential for expansion

• 4,000 tonnesper day

• 6,000 tonnesper day

phase I development update shaft sinking• production shaft

at 320 meters

• first station excavated

• shaft in production in2Q, 2001

• three ventilation shafts completed

phase I development update underground development

• 9,300 meters completed – 25% over feasibility

• 3 Tanzanian development crews

phase I development update underground development

• grades consistent – thickness 10% greater

• 121,000 tonnes@ 16g/tonne stockpiled

phase I development update training / staffing• 50 Tanzanian

development operators trained

• 60 Tanzanians in training for process and maintenance

• expatriate recruitment nearly complete

phase I development update community and environment

• employee housing

• World Bank environmental standards

2 km.4 km.

MAIN phase IMAIN

phase IEAST

phase IIEAST

phase II

phase IIeast zone

• 12/13 grams per tonne

• 500-1000 tpd mining rate

• adds 100,000 oz. to production

• decline to begin early 2001

• 12 months to access ore

phase IIeast zone

• 2002 program• delineate current reserve

• carry out further exploration

• begin development

• 2003 production

• $40 million capital expenditure

2 km.4 km.

WESTphase IIIWEST

phase III

MAIN phase IMAIN

phase I

phase IVphase IV

EASTphase IIEAST

phase II

phase IIIwest zone

• surface drilling to date• greater widths / higher grades

• requires main shaft to access zoneby drift

phase IVdeep main zone

• great holes at depth

• develop later in decade

property summarypresent

• total cash costs: $130 per /oz

• total production costs: under $200 per /oz

potential

• increase reserves

• reduce costs