Barrick Gold Corporation
NYSE : ABX
TSX : ABX

Barrick Gold Corporation

May 02, 2008 12:24 ET

Barrick Gold Marks 25th Anniversary

Celebrating 25 years of entrepreneurship, leadership and passion to succeed

TORONTO, ONTARIO--(Marketwire - May 2, 2008) - Twenty-five years ago today Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) made its debut as a publicly traded company on the Toronto Stock Exchange. To mark the occasion a delegation of Barrick's senior leadership opened the market this morning at the TSX.

The stock began trading on May 2, 1983 at $1.20 per share. An investment in Barrick of $10,000 (CAD) at that time was worth $322,583 (CAD) on April 30, 2008.

Between its listing on May 2, 1983 and December 31, 2007, market capitalization on the TSX increased 329%; ounces of gold produced increased 2014%; and gold reserves (000s of ounces) increased 736%.

"We celebrate our 25th as the leader in the gold mining industry, with approximately 125 million ounces of gold reserves and 51 million ounces of measured and indicated resources(1), located on some of the most prolific gold belts in the world," said Chairman, Founder and Acting CEO Peter Munk. "Today, Barrick's competitive advantage is its strength, breadth and scale. The Company has the combined financial muscle and more than 20,000 talented employees to execute its development plans for the future."

Originally listed as Barrick Resources Corporation under the symbol BRC, the company's trading symbol on the TSX changed to ABX in December, 1983. By the end of 1984, Barrick's first full year of operation, it had produced 34,078 ounces of gold. In 2007, it produced 8.1 million ounces of gold. Barrick now has the largest market capitalization of any gold producer and is the 10th largest company on the TSX by market capitalization.

"We started the business with a talented team that wasn't afraid to dream big," said Mr. Munk. "Today Barrick Gold is the world's preeminent gold company, recognized for our ability to deliver on what we promise. Our values guide us. We have produced solid earnings through ethical business practices and a commitment to share the benefits of mining with the communities where we operate."

Barrick is the industry leader in reserves, production, earnings, and has the deepest project pipeline. It has twenty seven operating mines and ten projects in progress, located on five continents. The company employs more than 20,000 people.

Photo images of the market opening at the TSX are available at newswire.ca

(1) Calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For United States reporting purposes, Industry Guide 7 (under the Securities Exchange Act of 1934), as interpreted by the Staff of the SEC, applies different standards in order to classify mineralization as a reserve. Accordingly, for U.S. reporting purposes, Pueblo Viejo is classified as mineralized material. For a breakdown of reserves and resources see Barrick's most recent Annual Information Form/40-F on file with Canadian provincial securities regulatory authorities and the U.S Securities and Exchange Commission.

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Contact Information

  • INVESTOR CONTACT: Deni Nicoski
    Vice President, Investor Relations
    (416) 307-7410
    Email: dnicoski@barrick.com
    or
    MEDIA CONTACT: Vincent Borg
    Senior Vice President, Corporate Communications
    (416) 307-7477
    Email: vborg@barrick.com