Barrick Gold Corporation
NYSE : ABX
TSX : ABX

Barrick Gold Corporation

August 16, 2007 14:10 ET

Barrick Advises Limited Cash Investment Exposure

TORONTO, ONTARIO--(Marketwire - Aug. 16, 2007) - Barrick Gold Corporation (TSX:ABX)(NYSE:ABX) advised today that its exposure to the Canadian Asset- Backed Commercial Paper Market is limited to an investment of US$65 million. This amount represents less than 3 per cent of Barrick's total cash position of about US$2.6 billion. The commercial paper investment is currently rated R-1 high by Dominion Bond Rating Service Limited.

The remainder of Barrick's cash position is invested in highly rated liquid instruments with a broad range of large financial institutions.

Barrick's vision is to be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.

FORWARD-LOOKING STATEMENTS

Certain information included in this press release, including any information as to our future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements." The words "expect", "will", "intend", "estimate" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Barrick to be materially different from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and other factors include, but are not limited to: changes in the worldwide price of gold or certain other commodities (such as fuel and electricity) and currencies; legislative, political or economic developments in the jurisdictions in which the Company carries on business. These factors are discussed in greater detail in the Company's most recent Form 40-F/Annual Information Form on file with the US Securities and Exchange Commission and Canadian provincial securities regulatory authorities. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Contact Information

  • Barrick Gold Corporation
    Vincent Borg
    Senior Vice President, Corporate Communications
    (416) 307-7477
    (416) 861-1509 (FAX)
    Email: vborg@barrick.com