Barrick Completes Divestiture of Cowal Mine

TORONTO, ONTARIO--(Marketwired - July 23, 2015) -

All amounts expressed in US dollars

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (Barrick or the "company") today announced it has completed the divestiture of its Cowal mine in New South Wales, Australia to Evolution Mining for a total cash consideration of $550 million. Proceeds from the sale of Cowal will be used to repay debt.

"The sale of Cowal is consistent with the strategy we have outlined to create long-term value for our owners, and will make a significant contribution to our debt reduction target while further focusing the geographic footprint of our portfolio," said Co-President Kelvin Dushnisky.

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