GlobeNewswire Inc | Nov 5, 2020 05:59AM EST

November 05, 2020

All amounts expressed in US dollars

TORONTO, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that its Board of Directors has declared a dividend for the third quarter of 2020 of $0.09 per share, a 12.5% increase on the previous quarters dividend, payable on December 15, 2020, to shareholders of record at the close of business on November 30, 2020.1

Senior executive vice-president and chief financial officer Graham Shuttleworth said that this represents the third increase in the quarterly dividend in the past year and that Barricks quarterly dividend has tripled since the announcement of the Barrick-Randgold merger in September 2018, reflecting Barricks continued strong financial performance.

The Board believes that the current dividend increase is sustainable and is reflective of the ongoing robust performance of our operations and continued improvement in the strength of our balance sheet, with total liquidity of $7.7 billion, including a cash balance of $4.7 billion, and a debt net of cash position of just $0.4 billion as of the end of the third quarter, as well as no material debt repayments due before 2033, said Shuttleworth.

Enquiries:

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

Senior EVP and CFOGraham Shuttleworth+1 647 262 2095+44 779 771 1338

Investor and Media RelationsKathy du Plessis+44 20 7557 7738Email: barrick@dpapr.com

_____________________1 The declaration and payment of dividends is at the discretion of the Board of Directors, and will depend on the companys financial results, cash requirements, future prospects and other factors deemed relevant by the Board.