Barrick Completes Sale of Non-Core Assets in Nevada to Waterton

TORONTO, ONTARIO--(Marketwired - Dec. 17, 2015) -

All amounts expressed in US dollars

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick" or the "company") today announced that it has completed the sale of the company's 70 percent interest in the Spring Valley project and Barrick's 100 percent interest in the Ruby Hill mine to subsidiaries of Waterton Precious Metals Fund II Cayman, LP ("Waterton") for $110 million in cash.

"As a result of the non-core asset sales we have executed this year, our portfolio is now much more focused on core mines that generate free cash flow through the metal price cycle," said Barrick President Kelvin Dushnisky. "We are also on track to meet our stated debt reduction target of $3 billion for 2015, which, when completed, will represent a 23 percent reduction in total debt since the start of the year."

Barrick also expects to complete the previously announced sale of 100 percent of Bald Mountain and Barrick's 50 percent interest in Round Mountain to Kinross Gold Corporation by mid-January 2016.

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