currently has four rigs on the property working to expandthe resource. The deposit is still open and preliminarymetallurgical tests indicate good recoveries. TheCompany believes the property holds multi-millionounce potential.In Tanzania, there has been limited exploration in theland holdings surrounding North Mara. As well, Nyanzagahas shown potential for a large system and an aggressivedrill program is underway.At Porgera, where <strong>Barrick</strong> owns a 75% interest, theobjective is to drill test extensions to existingunderground high-grade lodes, as well as untestedpotential bonanza zones at depth.CORPORATE DEVELOPMENTDuring the quarter, the Company announced it hadentered into an agreement with Antofagasta PLC toacquire 50% of Tethyan Copper Company’s Reko Diqgold and copper project and associated mineral interestsin Pakistan. The highly prospective Reko Diq project islocated in the Chagai Hills region of Pakistan, a miningdistrict that hosts significant gold and copper porphyrydeposits as part of an extended belt. <strong>Barrick</strong>will reimburse Antofagasta approximately $115 millionin cash for 50% of all the acquisition costs uponsuccessful completion.<strong>Barrick</strong> is working with Bema <strong>Gold</strong> <strong>Corporation</strong> andArizona Star Resources Corp. to finalize agreementswhereby the Company will sell its interest in the CerroCasale project to Bema and Arizona Star consistent withthe Agreement in Principle reached by Placer Domelast October.The Company is reiterating its 2006 gold productionguidance of 8.6 – 8.9 million ounces at $275 - $290 perounce. Full-year copper production guidance isapproximately 350 million pounds at total cash costs ofabout $0.75 - $0.80 per pound. The Company expectsgold production for the remaining quarters of 2006 to behigher due to planned mine sequencing, inclusion ofresults from Placer Dome mines for an entire quarter,and the start-up of the Cowal mine. See page 7 for adetailed breakdown of production and total cash costguidance for each region including certain consolidatedfinancial guidance. Guidance for amortization expense isnot yet available as the allocation of the purchase priceto assets and liabilities acquired is subject to a valuationexercise that will be conducted over the balance ofthe year.For a full explanation of results, the FinancialStatements and Management Discussion & Analysis, fullyearguidance at significant mines, and minestatistics, please see the Company’s website,www.barrick.com/Investors/Annual&QuarterlyReports/.* * * * *<strong>Barrick</strong>’s vision is to be the world’s best gold company byfinding, acquiring, developing and producing qualityreserves in a safe, profitable and socially responsiblemanner. <strong>Barrick</strong>’s shares are traded on the Toronto, NewYork, London, Euronext-Paris and Swiss stock exchanges.PLACER DOME INTEGRATION AND 2006 OUTLOOKOn October 31, 2005, <strong>Barrick</strong> announced its offer toacquire all the outstanding shares of Placer Dome Inc. tofurther strengthen its competitive position within thegold mining industry. Immediately after gaining control ofPlacer Dome on January 19, 2006, <strong>Barrick</strong> launched itsintegration plan and began to capture the estimated$200 million of annual synergies in an orderly andtimely manner.During the first quarter, the integration plan focusedon implementing the organizational structure forthe larger company, consolidating business andexploration offices around the world, and eliminatingimmediate redundancies.BARRICK FIRST QUARTER 2006 4 PRESS RELEASE
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