Barrick Announces Investment in Reunion Gold Corporation

TORONTO, ONTARIO--(Marketwired - Dec. 1, 2017) -

All amounts expressed in Canadian dollars unless otherwise indicated

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) ("Barrick") announced today that it has acquired 48,000,000 common shares of Reunion Gold Corporation (TSX VENTURE:RGD) ("Reunion") in a non-brokered private placement at a price of $0.19 per share for total consideration of $9,120,000.

As a result of the transaction, Barrick owns 48,000,000 common shares, representing approximately 15% of Reunion's issued and outstanding common shares, on a non-diluted basis (after giving effect to the transaction).

Barrick acquired the common shares for investment purposes. Depending on market conditions and other factors, including Reunion's business and financial condition, Barrick may, subject to the investor rights agreement entered into in connection with the transaction, acquire additional common shares or other securities of Reunion or dispose of some or all of the common shares or other securities of Reunion that it owns at such time.

An early warning report will be filed by Barrick in accordance with applicable securities laws. To obtain a copy of the early warning report, please contact Andy Lloyd, whose contact details are included below.

Barrick is a senior gold mining company organized under the laws of the Province of Ontario. Barrick's head office is located at Brookfield Place, TD Canada Trust Tower, Suite 3700, 161 Bay Street, P.O. Box 212, Toronto, Ontario M5J 2S1. Reunion's head office is located at Brookfield Place, Suite 440, 181 Bay Street, Toronto, Ontario M5J 2T3.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

The information in this press release has been prepared as at December 1, 2017. Certain information contained in this press release, including any information relating to the Financing constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "may", "will" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to Barrick's acquisition or disposition of securities of Reunion in the future. Forward-looking statements are necessarily based upon a number of assumptions, including material assumptions considered reasonable by Barrick as at the date of this press release in light of management's experience and perception of current conditions and expected developments, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies.

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned not to put undue reliance on forward-looking statements which are not guarantees of future events, and speak only as of the date made. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements.

Barrick 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.