Turquoise Ridge JV

The Turquoise Ridge property is located in the Potosi Mining District, about 70 kilometers northeast of Winnemucca, Nevada, on the eastern flank of the Osgood Mountains. Barrick owns a 75% joint venture interest and Newmont owns the remainder.

Operations at Turquoise Ridge consist of two underground mines – the Turquoise Ridge and Getchell mines.

The Getchell mine is fully developed and is accessed from the old Getchell open pit via two portals. The mining method for Getchell is currently 100% drift-and-fill.

The Turquoise Ridge mine is accessed by two existing shafts. Mining at Turquoise Ridge has been based on using an underhand cut-and-fill mining method due to the relatively low rock quality in the ore zones.

Ore is transported to Newmont’s Twin Creeks mill for processing. The refractory gold ore is treated using pressure oxidation technology and gold is recovered using conventional carbon-in-leach technology.

In 2007, the Company’s 75% share of Turquoise Ridge’s production totaled approximately 184,000 ounces of gold at total cash costs of $425 per ounce¹. Barrick’s share of proven and probable mineral reserves as of December 31, 2007 is estimated at 3.9 million ounces of gold².