Barrick Names Ammar Al-Joundi Executive Vice President and Chief Financial Officer

TORONTO, ONTARIO--(Marketwire - June 26, 2012) - Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) announced today that Ammar Al-Joundi has been named Executive Vice President and Chief Financial Officer of the company, effective July 10, 2012.

Mr. Al-Joundi has more than 20 years of experience in corporate finance and banking within the mining industry, with extensive expertise in capital markets, business strategy, financial controls and mine operations.

Prior to joining Agnico-Eagle Mines Limited as Senior Vice President, Finance and Chief Financial Officer in September 2010, Mr. Al-Joundi spent 11 years at Barrick, and was a key member of the company's finance team. While at Barrick, Mr. Al-Joundi served as Senior Vice President of Business Strategy and Capital Allocation, Senior Vice President, Finance and Vice President and Treasurer. His experience at Barrick also included two years as Chief Financial Officer of the company's South American business unit. Prior to joining Barrick in 1999, Mr. Al-Joundi spent eight years as an investment banker at Citibank Canada.

"Ammar has deep knowledge and experience in the mining industry and a track record of exceptional performance not only at Agnico-Eagle, but also as an integral member of the Barrick team for over a decade," said Jamie Sokalsky, Barrick's President and Chief Executive Officer. "I am confident that he will continue Barrick's tradition of financial strength and prudent fiscal management, enabling us to deliver maximum value for our shareholders."

Mr. Al-Joundi holds an undergraduate degree in Mechanical Engineering from the University of Toronto and an MBA from the Ivey School of Business at the University of Western Ontario. He is also a Professional Engineer.

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.