MISSION: To be the world’s most valued gold mining ......MISSION: To be the world’s most valued gold mining business by finding, developing, and owning the best assets, with the
16
MISSION: To be the world’s most valued gold mining business by finding, developing, and owning the best assets, with the best people, to deliver sustainable returns for our owners and partners
MISSION To be the worldrsquos most valued goldmining business by finding developing and owningthe best assets with the best people to deliversustainable returns for our owners and partners
Cautionary Statement on Forward Looking Information
This presentation contains statements which are or may be deemed to be ldquoforward-looking statementsrdquo (or ldquoforward-looking informationrdquo) under applicable securities laws including for the purposesof the US Private Securities Litigation Reform Act of 1995 Forward-looking statements are prospective in nature and are not based on historical facts but rather on current expectations andprojections of the management of Barrick about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressedor implied by the forward-looking statements The forward-looking statements contained in this presentation include statements relating to the expected impact of the creation of the new joint ventureincluding potential synergies the potential for Goldrush to become a Tier One gold asset and other statements other than historical facts
Although Barrick believes that the expectations reflected in such forward-looking statements are reasonable Barrick can give no assurance that such expectations will prove to be correct By theirnature forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future There are a number of factors that could causeactual results and developments to differ materially from those expressed or implied by such forward-looking statements These factors include risks relating to Nevada Gold Mines Barrick andNewmont Goldcorprsquos respective credit ratings local and global political and economic conditions Barrickrsquos economic model liquidity risks fluctuations in the spot and forward price of gold copper orcertain other commodities (such as silver diesel fuel natural gas and electricity) financial services risk the risks associated with each of Nevada Gold Minesrsquo Barrickrsquos and Newmont Goldcorprsquosbrand reputation and trust environmental risks safety and technology risks the ability to realize the anticipated benefits of the joint venture (including estimated synergies and financial benefits) orimplementing the business plan for the joint venture legal or regulatory developments and changes risks associated with working with partners in jointly controlled assets employee relationsincluding loss of key employees the outcome of any litigation arbitration or other dispute proceeding the impact of any acquisitions or similar transactions competition and market risks the impact offoreign exchange rates pricing pressures the possibility that future exploration results will not be consistent with expectations risks that exploration data may be incomplete and considerableadditional work may be required to complete further evaluation including but not limited to drilling engineering and socioeconomic studies and investment risk of loss due to acts of war terrorismsabotage and civil disturbances contests over title to properties particularly title to undeveloped properties or over access to water power and other required infrastructure and business continuityand crisis management Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements Such forward-looking statements shouldtherefore be construed in the light of such factors
Neither Barrick Newmont Goldcorp nor any of their respective directors officers employees or advisers provides any representation assurance or guarantee that the occurrence of the eventsexpressed or implied in any forward-looking statements in this presentation will actually occur You are cautioned not to place undue reliance on these forward-looking statements Other than inaccordance with their legal or regulatory obligations neither Barrick nor Newmont Goldcorp is not under any obligation and both Barrick and Newmont Goldcorp expressly disclaim any intention orobligation to update or revise any forward-looking statements whether as a result of new information future events or otherwise Investors should not assume that any lack of update to a previouslyissued ldquoforward-looking statementrdquo constitutes a reaffirmation of that statementNewmont Goldcorp is not affirming or adopting any statements or reports attributed to Barrick in this presentation or made by Barrick outside of this presentation For a detailed discussion of risks andother factors related to Newmont Goldcorp see Newmont Goldcorprsquos 2018 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the ldquoSECrdquo) as well as NewmontGoldcorprsquos other SEC filings available on the SEC website or wwwnewmontgoldcorpcom
Barrick 615 Newmont Goldcorp 385
Barrick Board of Directors Barrick 3 board seatsNewmont Goldcorp 2 board seats3 Advisory Committees Equal representation from Barrick and Newmont Goldcorp
a joint venture between Barrick and Newmont Goldcorp
Governance Ownership Operator
1 Source SampP Global Market Intelligence and company disclosure Based on primary gold mines only Shown on a 100 basis Excludes state-owned and privately owned mines Excludes Chinese mines due to lack of disclosure
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
41
13 1 1 08 07 07 07 06 06
Gold mines ranked by 2018 gold production1 (Moz)
Assets in Northeastern Nevadahellip2018
Goldstrike
CoveMcCoy JVRobertson
Turquoise Ridge
South Arturo
Cortez HillsGoldrush
WinnemuccaElko
Battle Mountain7
Twin Creeks
Pipeline
CarlinPhoenix Lone Tree
Gold Quarry
Emigrant
Long Canyon
Fourmile
N
10 Underground Mines6M Ore Tonnes Mined
12 Open Pits66M Ore Tonnes Mined
2 Autoclave Facilities8M Tonnes Processed
2 Roasting Facilities85M Tonnes Processed
4 Oxide Mills19M Tonnes Processed
5 Heap Leach Facilities 30M Ore Tonnes Processed
included in the joint venture
Strong Reserve amp Resource basehellipas at year end 2018
Attract and develop strong world-class people who are informed and involved in the processes of the company act with integrity and are tireless in their pursuit of excellence
LANDERCHURCHILL
WHITE PINE
MINERAL NYE
ESMERALDA
LINCOLN
CLARK
PERSHING
HUMBOLDT
EUREKA
LYON
DOUGLAS
CARSON CITY
STONEY
WASHOE
ELKO
N E V A D A
Best Assetshellip3 Tier One5 and potentially One in the making
Twin CreeksHeadcount 461
Total Headcount as of June 20196999 All Other Locations 394 Female (of Total Headcount) 142 Unionized (of Total Headcount) 193
A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools (excluding state-owned and privately owned mines)
Partnering with Communitieshellip
Build and strengthen trust with community stakeholders
Commitment to partnerships with long-term sustainable outcomes
Manage operational impacts and maximize opportunities in host communities
Introduce Nevada Gold Mines Legacy Fund modeled after Newmont Goldcorp LF
Enable and facilitate workforce involvement in host communities
Grow the next generation to be career ready
9
Creating Value for All Stakeholdershellip
Longer Profitable Mine LivesLonger Term Employment OpportunitiesLonger Term Benefit Sharing With Local CommunitiesLonger Term Advantages To Nevadarsquos Economy
Maximising Nevadarsquos potential
Longer Profitable Mine Lives
Increased Reserves and Resources
Lower Cut-Off Grades
Lower Costs Higher Free Cash Flow
Optimized Operations
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Cautionary Statement on Forward Looking Information
This presentation contains statements which are or may be deemed to be ldquoforward-looking statementsrdquo (or ldquoforward-looking informationrdquo) under applicable securities laws including for the purposesof the US Private Securities Litigation Reform Act of 1995 Forward-looking statements are prospective in nature and are not based on historical facts but rather on current expectations andprojections of the management of Barrick about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressedor implied by the forward-looking statements The forward-looking statements contained in this presentation include statements relating to the expected impact of the creation of the new joint ventureincluding potential synergies the potential for Goldrush to become a Tier One gold asset and other statements other than historical facts
Although Barrick believes that the expectations reflected in such forward-looking statements are reasonable Barrick can give no assurance that such expectations will prove to be correct By theirnature forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future There are a number of factors that could causeactual results and developments to differ materially from those expressed or implied by such forward-looking statements These factors include risks relating to Nevada Gold Mines Barrick andNewmont Goldcorprsquos respective credit ratings local and global political and economic conditions Barrickrsquos economic model liquidity risks fluctuations in the spot and forward price of gold copper orcertain other commodities (such as silver diesel fuel natural gas and electricity) financial services risk the risks associated with each of Nevada Gold Minesrsquo Barrickrsquos and Newmont Goldcorprsquosbrand reputation and trust environmental risks safety and technology risks the ability to realize the anticipated benefits of the joint venture (including estimated synergies and financial benefits) orimplementing the business plan for the joint venture legal or regulatory developments and changes risks associated with working with partners in jointly controlled assets employee relationsincluding loss of key employees the outcome of any litigation arbitration or other dispute proceeding the impact of any acquisitions or similar transactions competition and market risks the impact offoreign exchange rates pricing pressures the possibility that future exploration results will not be consistent with expectations risks that exploration data may be incomplete and considerableadditional work may be required to complete further evaluation including but not limited to drilling engineering and socioeconomic studies and investment risk of loss due to acts of war terrorismsabotage and civil disturbances contests over title to properties particularly title to undeveloped properties or over access to water power and other required infrastructure and business continuityand crisis management Other unknown or unpredictable factors could cause actual results to differ materially from those in the forward-looking statements Such forward-looking statements shouldtherefore be construed in the light of such factors
Neither Barrick Newmont Goldcorp nor any of their respective directors officers employees or advisers provides any representation assurance or guarantee that the occurrence of the eventsexpressed or implied in any forward-looking statements in this presentation will actually occur You are cautioned not to place undue reliance on these forward-looking statements Other than inaccordance with their legal or regulatory obligations neither Barrick nor Newmont Goldcorp is not under any obligation and both Barrick and Newmont Goldcorp expressly disclaim any intention orobligation to update or revise any forward-looking statements whether as a result of new information future events or otherwise Investors should not assume that any lack of update to a previouslyissued ldquoforward-looking statementrdquo constitutes a reaffirmation of that statementNewmont Goldcorp is not affirming or adopting any statements or reports attributed to Barrick in this presentation or made by Barrick outside of this presentation For a detailed discussion of risks andother factors related to Newmont Goldcorp see Newmont Goldcorprsquos 2018 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the ldquoSECrdquo) as well as NewmontGoldcorprsquos other SEC filings available on the SEC website or wwwnewmontgoldcorpcom
Barrick 615 Newmont Goldcorp 385
Barrick Board of Directors Barrick 3 board seatsNewmont Goldcorp 2 board seats3 Advisory Committees Equal representation from Barrick and Newmont Goldcorp
a joint venture between Barrick and Newmont Goldcorp
Governance Ownership Operator
1 Source SampP Global Market Intelligence and company disclosure Based on primary gold mines only Shown on a 100 basis Excludes state-owned and privately owned mines Excludes Chinese mines due to lack of disclosure
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
41
13 1 1 08 07 07 07 06 06
Gold mines ranked by 2018 gold production1 (Moz)
Assets in Northeastern Nevadahellip2018
Goldstrike
CoveMcCoy JVRobertson
Turquoise Ridge
South Arturo
Cortez HillsGoldrush
WinnemuccaElko
Battle Mountain7
Twin Creeks
Pipeline
CarlinPhoenix Lone Tree
Gold Quarry
Emigrant
Long Canyon
Fourmile
N
10 Underground Mines6M Ore Tonnes Mined
12 Open Pits66M Ore Tonnes Mined
2 Autoclave Facilities8M Tonnes Processed
2 Roasting Facilities85M Tonnes Processed
4 Oxide Mills19M Tonnes Processed
5 Heap Leach Facilities 30M Ore Tonnes Processed
included in the joint venture
Strong Reserve amp Resource basehellipas at year end 2018
Attract and develop strong world-class people who are informed and involved in the processes of the company act with integrity and are tireless in their pursuit of excellence
LANDERCHURCHILL
WHITE PINE
MINERAL NYE
ESMERALDA
LINCOLN
CLARK
PERSHING
HUMBOLDT
EUREKA
LYON
DOUGLAS
CARSON CITY
STONEY
WASHOE
ELKO
N E V A D A
Best Assetshellip3 Tier One5 and potentially One in the making
Twin CreeksHeadcount 461
Total Headcount as of June 20196999 All Other Locations 394 Female (of Total Headcount) 142 Unionized (of Total Headcount) 193
A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools (excluding state-owned and privately owned mines)
Partnering with Communitieshellip
Build and strengthen trust with community stakeholders
Commitment to partnerships with long-term sustainable outcomes
Manage operational impacts and maximize opportunities in host communities
Introduce Nevada Gold Mines Legacy Fund modeled after Newmont Goldcorp LF
Enable and facilitate workforce involvement in host communities
Grow the next generation to be career ready
9
Creating Value for All Stakeholdershellip
Longer Profitable Mine LivesLonger Term Employment OpportunitiesLonger Term Benefit Sharing With Local CommunitiesLonger Term Advantages To Nevadarsquos Economy
Maximising Nevadarsquos potential
Longer Profitable Mine Lives
Increased Reserves and Resources
Lower Cut-Off Grades
Lower Costs Higher Free Cash Flow
Optimized Operations
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Barrick 615 Newmont Goldcorp 385
Barrick Board of Directors Barrick 3 board seatsNewmont Goldcorp 2 board seats3 Advisory Committees Equal representation from Barrick and Newmont Goldcorp
a joint venture between Barrick and Newmont Goldcorp
Governance Ownership Operator
1 Source SampP Global Market Intelligence and company disclosure Based on primary gold mines only Shown on a 100 basis Excludes state-owned and privately owned mines Excludes Chinese mines due to lack of disclosure
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
41
13 1 1 08 07 07 07 06 06
Gold mines ranked by 2018 gold production1 (Moz)
Assets in Northeastern Nevadahellip2018
Goldstrike
CoveMcCoy JVRobertson
Turquoise Ridge
South Arturo
Cortez HillsGoldrush
WinnemuccaElko
Battle Mountain7
Twin Creeks
Pipeline
CarlinPhoenix Lone Tree
Gold Quarry
Emigrant
Long Canyon
Fourmile
N
10 Underground Mines6M Ore Tonnes Mined
12 Open Pits66M Ore Tonnes Mined
2 Autoclave Facilities8M Tonnes Processed
2 Roasting Facilities85M Tonnes Processed
4 Oxide Mills19M Tonnes Processed
5 Heap Leach Facilities 30M Ore Tonnes Processed
included in the joint venture
Strong Reserve amp Resource basehellipas at year end 2018
Attract and develop strong world-class people who are informed and involved in the processes of the company act with integrity and are tireless in their pursuit of excellence
LANDERCHURCHILL
WHITE PINE
MINERAL NYE
ESMERALDA
LINCOLN
CLARK
PERSHING
HUMBOLDT
EUREKA
LYON
DOUGLAS
CARSON CITY
STONEY
WASHOE
ELKO
N E V A D A
Best Assetshellip3 Tier One5 and potentially One in the making
Twin CreeksHeadcount 461
Total Headcount as of June 20196999 All Other Locations 394 Female (of Total Headcount) 142 Unionized (of Total Headcount) 193
A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools (excluding state-owned and privately owned mines)
Partnering with Communitieshellip
Build and strengthen trust with community stakeholders
Commitment to partnerships with long-term sustainable outcomes
Manage operational impacts and maximize opportunities in host communities
Introduce Nevada Gold Mines Legacy Fund modeled after Newmont Goldcorp LF
Enable and facilitate workforce involvement in host communities
Grow the next generation to be career ready
9
Creating Value for All Stakeholdershellip
Longer Profitable Mine LivesLonger Term Employment OpportunitiesLonger Term Benefit Sharing With Local CommunitiesLonger Term Advantages To Nevadarsquos Economy
Maximising Nevadarsquos potential
Longer Profitable Mine Lives
Increased Reserves and Resources
Lower Cut-Off Grades
Lower Costs Higher Free Cash Flow
Optimized Operations
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
1 Source SampP Global Market Intelligence and company disclosure Based on primary gold mines only Shown on a 100 basis Excludes state-owned and privately owned mines Excludes Chinese mines due to lack of disclosure
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
41
13 1 1 08 07 07 07 06 06
Gold mines ranked by 2018 gold production1 (Moz)
Assets in Northeastern Nevadahellip2018
Goldstrike
CoveMcCoy JVRobertson
Turquoise Ridge
South Arturo
Cortez HillsGoldrush
WinnemuccaElko
Battle Mountain7
Twin Creeks
Pipeline
CarlinPhoenix Lone Tree
Gold Quarry
Emigrant
Long Canyon
Fourmile
N
10 Underground Mines6M Ore Tonnes Mined
12 Open Pits66M Ore Tonnes Mined
2 Autoclave Facilities8M Tonnes Processed
2 Roasting Facilities85M Tonnes Processed
4 Oxide Mills19M Tonnes Processed
5 Heap Leach Facilities 30M Ore Tonnes Processed
included in the joint venture
Strong Reserve amp Resource basehellipas at year end 2018
Attract and develop strong world-class people who are informed and involved in the processes of the company act with integrity and are tireless in their pursuit of excellence
LANDERCHURCHILL
WHITE PINE
MINERAL NYE
ESMERALDA
LINCOLN
CLARK
PERSHING
HUMBOLDT
EUREKA
LYON
DOUGLAS
CARSON CITY
STONEY
WASHOE
ELKO
N E V A D A
Best Assetshellip3 Tier One5 and potentially One in the making
Twin CreeksHeadcount 461
Total Headcount as of June 20196999 All Other Locations 394 Female (of Total Headcount) 142 Unionized (of Total Headcount) 193
A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools (excluding state-owned and privately owned mines)
Partnering with Communitieshellip
Build and strengthen trust with community stakeholders
Commitment to partnerships with long-term sustainable outcomes
Manage operational impacts and maximize opportunities in host communities
Introduce Nevada Gold Mines Legacy Fund modeled after Newmont Goldcorp LF
Enable and facilitate workforce involvement in host communities
Grow the next generation to be career ready
9
Creating Value for All Stakeholdershellip
Longer Profitable Mine LivesLonger Term Employment OpportunitiesLonger Term Benefit Sharing With Local CommunitiesLonger Term Advantages To Nevadarsquos Economy
Maximising Nevadarsquos potential
Longer Profitable Mine Lives
Increased Reserves and Resources
Lower Cut-Off Grades
Lower Costs Higher Free Cash Flow
Optimized Operations
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Assets in Northeastern Nevadahellip2018
Goldstrike
CoveMcCoy JVRobertson
Turquoise Ridge
South Arturo
Cortez HillsGoldrush
WinnemuccaElko
Battle Mountain7
Twin Creeks
Pipeline
CarlinPhoenix Lone Tree
Gold Quarry
Emigrant
Long Canyon
Fourmile
N
10 Underground Mines6M Ore Tonnes Mined
12 Open Pits66M Ore Tonnes Mined
2 Autoclave Facilities8M Tonnes Processed
2 Roasting Facilities85M Tonnes Processed
4 Oxide Mills19M Tonnes Processed
5 Heap Leach Facilities 30M Ore Tonnes Processed
included in the joint venture
Strong Reserve amp Resource basehellipas at year end 2018
Attract and develop strong world-class people who are informed and involved in the processes of the company act with integrity and are tireless in their pursuit of excellence
LANDERCHURCHILL
WHITE PINE
MINERAL NYE
ESMERALDA
LINCOLN
CLARK
PERSHING
HUMBOLDT
EUREKA
LYON
DOUGLAS
CARSON CITY
STONEY
WASHOE
ELKO
N E V A D A
Best Assetshellip3 Tier One5 and potentially One in the making
Twin CreeksHeadcount 461
Total Headcount as of June 20196999 All Other Locations 394 Female (of Total Headcount) 142 Unionized (of Total Headcount) 193
A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools (excluding state-owned and privately owned mines)
Partnering with Communitieshellip
Build and strengthen trust with community stakeholders
Commitment to partnerships with long-term sustainable outcomes
Manage operational impacts and maximize opportunities in host communities
Introduce Nevada Gold Mines Legacy Fund modeled after Newmont Goldcorp LF
Enable and facilitate workforce involvement in host communities
Grow the next generation to be career ready
9
Creating Value for All Stakeholdershellip
Longer Profitable Mine LivesLonger Term Employment OpportunitiesLonger Term Benefit Sharing With Local CommunitiesLonger Term Advantages To Nevadarsquos Economy
Maximising Nevadarsquos potential
Longer Profitable Mine Lives
Increased Reserves and Resources
Lower Cut-Off Grades
Lower Costs Higher Free Cash Flow
Optimized Operations
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Strong Reserve amp Resource basehellipas at year end 2018
Attract and develop strong world-class people who are informed and involved in the processes of the company act with integrity and are tireless in their pursuit of excellence
LANDERCHURCHILL
WHITE PINE
MINERAL NYE
ESMERALDA
LINCOLN
CLARK
PERSHING
HUMBOLDT
EUREKA
LYON
DOUGLAS
CARSON CITY
STONEY
WASHOE
ELKO
N E V A D A
Best Assetshellip3 Tier One5 and potentially One in the making
Twin CreeksHeadcount 461
Total Headcount as of June 20196999 All Other Locations 394 Female (of Total Headcount) 142 Unionized (of Total Headcount) 193
A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools (excluding state-owned and privately owned mines)
Partnering with Communitieshellip
Build and strengthen trust with community stakeholders
Commitment to partnerships with long-term sustainable outcomes
Manage operational impacts and maximize opportunities in host communities
Introduce Nevada Gold Mines Legacy Fund modeled after Newmont Goldcorp LF
Enable and facilitate workforce involvement in host communities
Grow the next generation to be career ready
9
Creating Value for All Stakeholdershellip
Longer Profitable Mine LivesLonger Term Employment OpportunitiesLonger Term Benefit Sharing With Local CommunitiesLonger Term Advantages To Nevadarsquos Economy
Maximising Nevadarsquos potential
Longer Profitable Mine Lives
Increased Reserves and Resources
Lower Cut-Off Grades
Lower Costs Higher Free Cash Flow
Optimized Operations
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
One Team with One Missionhellip
Attract and develop strong world-class people who are informed and involved in the processes of the company act with integrity and are tireless in their pursuit of excellence
LANDERCHURCHILL
WHITE PINE
MINERAL NYE
ESMERALDA
LINCOLN
CLARK
PERSHING
HUMBOLDT
EUREKA
LYON
DOUGLAS
CARSON CITY
STONEY
WASHOE
ELKO
N E V A D A
Best Assetshellip3 Tier One5 and potentially One in the making
Twin CreeksHeadcount 461
Total Headcount as of June 20196999 All Other Locations 394 Female (of Total Headcount) 142 Unionized (of Total Headcount) 193
A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools (excluding state-owned and privately owned mines)
Partnering with Communitieshellip
Build and strengthen trust with community stakeholders
Commitment to partnerships with long-term sustainable outcomes
Manage operational impacts and maximize opportunities in host communities
Introduce Nevada Gold Mines Legacy Fund modeled after Newmont Goldcorp LF
Enable and facilitate workforce involvement in host communities
Grow the next generation to be career ready
9
Creating Value for All Stakeholdershellip
Longer Profitable Mine LivesLonger Term Employment OpportunitiesLonger Term Benefit Sharing With Local CommunitiesLonger Term Advantages To Nevadarsquos Economy
Maximising Nevadarsquos potential
Longer Profitable Mine Lives
Increased Reserves and Resources
Lower Cut-Off Grades
Lower Costs Higher Free Cash Flow
Optimized Operations
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
LANDERCHURCHILL
WHITE PINE
MINERAL NYE
ESMERALDA
LINCOLN
CLARK
PERSHING
HUMBOLDT
EUREKA
LYON
DOUGLAS
CARSON CITY
STONEY
WASHOE
ELKO
N E V A D A
Best Assetshellip3 Tier One5 and potentially One in the making
Twin CreeksHeadcount 461
Total Headcount as of June 20196999 All Other Locations 394 Female (of Total Headcount) 142 Unionized (of Total Headcount) 193
A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools (excluding state-owned and privately owned mines)
Partnering with Communitieshellip
Build and strengthen trust with community stakeholders
Commitment to partnerships with long-term sustainable outcomes
Manage operational impacts and maximize opportunities in host communities
Introduce Nevada Gold Mines Legacy Fund modeled after Newmont Goldcorp LF
Enable and facilitate workforce involvement in host communities
Grow the next generation to be career ready
9
Creating Value for All Stakeholdershellip
Longer Profitable Mine LivesLonger Term Employment OpportunitiesLonger Term Benefit Sharing With Local CommunitiesLonger Term Advantages To Nevadarsquos Economy
Maximising Nevadarsquos potential
Longer Profitable Mine Lives
Increased Reserves and Resources
Lower Cut-Off Grades
Lower Costs Higher Free Cash Flow
Optimized Operations
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Partnering with Communitieshellip
Build and strengthen trust with community stakeholders
Commitment to partnerships with long-term sustainable outcomes
Manage operational impacts and maximize opportunities in host communities
Introduce Nevada Gold Mines Legacy Fund modeled after Newmont Goldcorp LF
Enable and facilitate workforce involvement in host communities
Grow the next generation to be career ready
9
Creating Value for All Stakeholdershellip
Longer Profitable Mine LivesLonger Term Employment OpportunitiesLonger Term Benefit Sharing With Local CommunitiesLonger Term Advantages To Nevadarsquos Economy
Maximising Nevadarsquos potential
Longer Profitable Mine Lives
Increased Reserves and Resources
Lower Cut-Off Grades
Lower Costs Higher Free Cash Flow
Optimized Operations
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Creating Value for All Stakeholdershellip
Longer Profitable Mine LivesLonger Term Employment OpportunitiesLonger Term Benefit Sharing With Local CommunitiesLonger Term Advantages To Nevadarsquos Economy
Maximising Nevadarsquos potential
Longer Profitable Mine Lives
Increased Reserves and Resources
Lower Cut-Off Grades
Lower Costs Higher Free Cash Flow
Optimized Operations
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Realised in current planRationalizing regional GampA including office consolidation -reduced 130 positionsAlso included - management fee corporate allocation TSA one-time costs from severance
Future synergies identifiedOperational efficiencies and organizational structureConsolidation of logistics - bus amp vehicles
Regional and site based indirect costs
Future synergies identifiedOpen pit support fleet - larger equipment to Gold Quarry and fleet from Long Canyon to Cortez pits in futureOptimized maintenance planningConsolidate water treatment at Leeville and GoldstrikeGoldstrike tailings optionality - expand out rather than upGoldstrike roaster tails to Leeville paste plantCentral lab facility
Mining costs optimised fleet and maintenance
Future synergies identifiedIncreased purchasing power for bulk consumables contracts and services fleet discounts rebatesCentralized warehouse in Elko additional rail access and storage Longer term opportunities including emulsion plant capacity regional and local cross-docking lime self-performanceOptimizing Nevada JV power strategy - TS Plant and Western 102Gas pipeline at Goldstrike (Barrick-owned) that Newmont Goldcorp uses
Nevada supply chain
Realised in current planRoaster ore routing optimize blending at Goldstrike and Carlin roasters by re-routing Cortez district material to Mill 6 and Carlin North material to Goldstrike Roaster - +$90M in 2019Mill 5 ore routing extend Mill 5 operating life - planned closure in June 2019 - by processing Goldstrike stockpiles - +$40M in 2019Autoclave ore routing Pete Bajo stockpile to Goldstrike autoclave to extend RIL life - +$20M in 2019
Integrated mine planning
Future synergies identifiedAutoclave ore routing Tri-star pit (Carlin) material to converted Goldstrike Autoclave - RIL to CILUtilize back-haul for moving ore between Mill 5 and GoldstrikeUtilize excess stripping capacity at Goldstrike for Long Canyon loaded carbonGrowth opportunities include
Review Deep Post North Post opportunity under combined Carlin-Goldstrike complex (roaster)Under-drilled targets along Goldstrike-Carlin corridor District geological and resource modelSaddle UG at Rain Emigrant (autoclave)
Turquoise Ridge ndash Twin Creeks Complex optimisationRealised in current plan +$90M in 2019
Reduced TR COG to 60gtRemoving TR sampling costs associated with the TMA
Future synergies identifiedReducing TR-TC GampA by operating as one siteTR haulage opportunitiesProcessing optimization at Sage MillTR surface mining opportunities including On-going work on OP opportunity at southern zone Re-evaluating TC pit expansions
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Next Stepshellip2019 timeline
Access to Newmont Nevada supply chain contractsFocus on quickly identifying the supply chain synergies
12
Conduct full operational review of the JV assetsStrategic plan in AugustTalent reviewStructure and manning reviewMobile Fleet audit amp review
Deliver short term synergiesMap long term synergiesOrebody model reviews and optimisationMine plan optimisationsGrowth and efficiencies
July 1st
Q2 to Q3
Q4
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Targeting production of between 18Moz and 19Moz at a preliminary estimated cost of sales6 of $940 - $970 per ounce and AISC7 of $920 - $950 per ounce for H2 20198
Leadership team in place - One Team sharing One VisionIdentified synergies expected to deliver up to $500 million over first five years from 2020
13
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Third Party Data and Technical Information
Third Party Data
Certain comparisons of Barrick Newmont Goldcorp and their industry peers are based on data obtained from Wood Mackenzie Wood Mackenzie is an independent third party research andconsultancy firm that provides data for among others the metals and mining industry Wood Mackenzie does not have any affiliation to Barrick or Newmont Goldcorp
Other than in respect of their own mines neither Barrick nor Newmont Goldcorp has the ability to verify the data or information obtained from Wood Mackenzie and the non-GAAP financialperformance measures used by Wood Mackenzie may not correspond to the non-GAAP financial performance measures calculated by Barrick Newmont Goldcorp or their respective industrypeers For more information on these non-GAAP financial performance measures see Endnote 5
Neither Barrick nor Newmont Goldcorp has sought or obtained consent from any third party to be quoted in this presentation
Technical Information
The scientific and technical information contained in this presentation in respect of Barrick has been reviewed and approved for release by Steven Yopps MMSA Director - Metallurgy NorthAmerica and Rodney Quick MSc Pr SciNat Mineral Resource Management and Evaluation Executive each a ldquoQualified Personrdquo as defined in National Instrument 43-101 ndash Standards ofDisclosure for Mineral Projects
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Endnotes1 The pro forma reserves and resources figures of Nevada Gold Mines were derived by adding the respective reserves and resources in respect of Nevada operations reported by Barrick in its 2018 Annual Information Form and Newmont in its pressrelease dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 in respect of the relevant Nevada properties set out in endnotes 2 and 3 The pro formareserves and resources are provided for illustrative purposes only Barrick and Newmont calculate such figures based on different standards and assumptions and accordingly such figures may not be directly comparable and the pro forma reservesand resources may be subject to adjustments due to such differing standards and assumptions In particular Barrick mineral reserves and resources have been prepared according to Canadian Institute of Mining Metallurgy and Petroleum 2014Definition Standards for Mineral Resources and Mineral Reserves as incorporated by National Instrument 43-101 ndash Standards of Disclosure for Mineral Projects which differ from the requirements of US securities laws Newmontrsquos reported reservesare prepared in compliance with Industry Guide 7 published by the SEC however the SEC does not recognize the terms ldquoresourcesrdquo and ldquomeasured and indicted resourcesrdquo Newmont has determined that its reported ldquoresourcesrdquo would besubstantively the same as those prepared using Guidelines established by the Society of Mining Metallurgy and Exploration (SME) and that its reported measured and indicated resources (combined) are equivalent to ldquoMineralized Materialrdquo disclosedin its annual report on Form 10-K
2 Reserves and resources of Barrick in Nevada are stated on an attributable basis as of December 31 2018 and include Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75) Proven reserves of 844 million tonnes grading436 gt representing 118 million ounces of gold Probable reserves of 1556 million tonnes grading 293 gt representing 147 million ounces of gold Measured resources of 135 million tonnes grading 422 gt representing 18 million ounces ofgold Indicated resources of 1016 million tonnes grading 434 gt representing 142 million ounces of gold Inferred resources of 287 million tonnes grading 52 gt representing 48 million ounces of gold Complete mineral reserve and resourcedata for all Barrick mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Barrick are reported are set out in Barrickrsquos 2018 Annual Information Formissued on March 22 2019 See also Endnote 4
3 Reserves and resources of Newmont in Nevada are stated on an attributable basis as of December 31 2018 and include Carlin Phoenix Twin Creeks (including Newmontrsquos 25 equity in Turquoise Ridge) and Long Canyon Proven reserves of466 million tonnes grading 384 gt representing 58 million ounces of gold Probable reserves of 3781 million tonnes grading 132 gt representing 160 million ounces of gold Measured resources of 197 million tonnes grading 22 gt representing14 million ounces of gold Indicated resources of 2444 million tonnes grading 127 gt representing 100 million ounces of gold Inferred resources of 455 million tonnes grading 181 gt representing 27 million ounces of gold Complete mineralreserve and resource data for all Newmont mines and projects referenced in this presentation including tonnes grades and ounces as well as the assumptions on which the mineral reserves for Newmont are reported are set out in Newmontrsquospress release dated February 21 2019 reporting its 2018 Reserves and Resources and its annual report on Form 10-K for the fiscal year ended December 31 2018 See also Endnote 4
4 Below is additional reserve and resource data in respect of certain of Nevada Gold Minesrsquo properties See also Endnotes 1 2 and 3
GOLD MINERAL RESERVES GOLD MINERAL RESOURCESPROVEN PROBABLE INFERRED
Pre JV Met
Pre JV
NEM Inv
NGM RampR base
Pre JV Dana Split used by IR
NGM RampR base used by IR
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
Third Party Data and Technical Information
Endnotes
Endnotes
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
PROVEN amp PROBABLE
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
(000s)
(gmt)
(000s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
Newmont in Nevada
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
Carlin Halo
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24900
166
1330
77
1700
284
150
31300
213
2150
33000
217
2300
12900
172
710
45900
204
3010
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
2270
Total TR (25)
3000
1362
1310
2500
1216
960
5500
1297
2270
0
1000
770
240
800
822
210
1800
793
450
600
1192
240
2400
894
690
TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
6833
Total TR (75)
9018
1362
3950
7373
1216
2883
16391
1297
6833
0
2983
770
738
2439
823
645
5422
793
1383
1872
1193
718
7294
896
2101
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
8525
Total Goldstrike
55514
365
6513
12381
505
2012
67895
391
8525
0
3572
675
775
4592
580
857
8164
622
1632
1817
811
474
9981
656
2106
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Total South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
21790
Newmont Nevada Pre JV
46600
384
5760
378100
132
16030
424700
160
21790
19700
219
1390
244400
127
9990
265100
134
11380
45500
181
2650
310600
140
14030
29698
Barrick Nevada Post JV (615)
80584
`
10820
328208
179
18879
408792
226
29698
20420
302
1982
212775
217
14857
233811
224
16839
45625
312
4582
279436
238
21421
18592
Newmont Nevada Post JV (385)
50447
418
6773
205463
179
11818
255910
226
18592
12784
302
1241
133201
217
9301
146369
224
10542
28562
312
2868
174931
238
13410
48290
TOTAL NEVADA GOLD MINES
131031
418
17593
533671
179
30697
664702
226
48290
33204
302
3223
345976
217
24158
380180
224
27381
74187
312
7450
454367
238
34831
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
Including Sandman
21790
Newmont Nevada Pre JV
46600
418
5760
378100
179
16030
424700
160
21790
19700
219
1390
245600
127
10040
266300
134
11430
46600
181
2710
310600
140
14030
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
Donlin
270668
224
19503
46108
202
2997
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
Sandman
248
1200
123
50
1200
123
50
1100
185
60
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
check
5697
644
1250
4887
12460
00323276
300
5
GOLD MINERAL RESERVES
GOLD MINERAL RESOURCES
PROVEN
PROBABLE
Proven amp Probable
MEASURED
INDICATED
MampI
INFERRED
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
Tonnes
Grade
Contained ozs
ktonnes
gt
koz
Tonnes
Grade
Contained ozs
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
(000s)
(gmt)
(00s)
Carlin
26100
473
3970
181100
146
8490
207200
187
12460
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
PhoenixLone Tree
15600
064
320
120800
065
2530
136400
065
2850
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
Long Canyon
600
218
50
21700
131
920
22300
134
970
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
Barrick in Nevada
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont in Nevada
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
Includes Goldstrike Cortez Goldrush South Arturo (60) and Turquoise Ridge (75)rdquo
Includes Carlin Phoenix Lone Tree Twin Creeks Turquoise Ridge (25) and Long Canyon
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
INSITU ONLY
Category
2017
Revisions
BY THE BIT Additions
Depletion Conversion
2018
Comments
Oz
Oz
Oz
Oz
Oz
Tonnes
gt
1
Long Canyon
Reserve
1007220
95976
11766
(223884)
891077
12156290
228
1
Resource
2001785
92656
(107742)
1986699
20139525
307
1
HCI
455476
106156
201021
762653
3614481
656
1
LCI
6899146
(4862690)
(201021)
1835435
7809922
731
Gold Quarry
Reserve
5766469
(1200341)
(101105)
4465023
73663488
189
Resource
3086741
521043
3607784
77382950
145
HCI
1278323
(620787)
657536
18643548
110
LCI
9120988
(673099)
8447889
212881927
123
844753049541293
Emigrant
Reserve
287521
(126656)
160865
12428446
040
Resource
73790
(2074)
71716
4626648
048
HCI
42114
286555
328669
19026767
054
LCI
926052
(78864)
847188
42697590
062
847152047730254
Snow Peak
Reserve
0
Resource
0
HCI
0
Snow Peak
LCI
63434
63434
2616743
075
634313080399167
Genesis
Reserve
1700725
(391585)
(205487)
1103653
22679645
151
Resource
203137
(158593)
44544
907186
153
HCI
528939
528939
11999813
137
LCI
2197200
(1434016)
763184
6531603
363
763151612623132
Perry
Reserve
0
Perry
Resource
94594
94594
5170959
057
HCI
30963
30963
1977536
049
LCI
171817
171817
13427444
040
171809708571024
Green Lantern
Reserve
0
Green Lantern
Resource
677316
677316
22588927
093
HCI
21502
21502
589241
113
LCI
39718
39718
1830180
067
397163144800802
Tara Bootstrap
Reserve
0
Resource
0
HCI
0
Tara Bootstrap
LCI
0
160393
160393
2724390
183
16038619337337
MiKe
Reserve
0
Resource
0
HCI
0
MiKe
LCI
10400000
10400000
1273532142
025
103995586533268
other
LCI
2448036
-2448036
0
2
Carlin Surface
Reserve
7754715
(1591926)
(433248)
5729542
108771580
164
2
Resource
4135578
360376
4495954
110676670
126
2
HCI
1901841
(334232)
1567609
52236905
093
2
LCI
25367245
(4473622)
10493623
282709876
115
104931776802307
Leeville
Reserve
3947160
(173754)
279000
(457246)
3595160
10432637
1072
Resource
649671
90852
386000
(279000)
847523
3628743
726
HCI
1167000
(294092)
(386000)
486908
2007638
754
LCI
5048000
5048000
21540000
729
Exodus
Reserve
825844
(66912)
106315
(127659)
737588
2630839
872
Resource
205414
48801
43842
(91045)
207012
453593
1420
HCI
86097
118993
(91045)
114045
635235
558
LCI
1411050
(348050)
1063000
6160418
537
Pete Bajo Fence
Reserve
438183
6696
130389
(71864)
503404
1542216
1015
Resource
408523
(122989)
286793
(130389)
441938
1542216
891
HCI
118000
122989
360700
(286793)
314896
1089066
899
LCI
788000
153886
343057
1284943
4271893
936
Chukar
Reserve
98417
(7052)
2965
(66735)
27595
181437
473
Resource
8930
(2965)
5965
43640
425
HCI
175000
(175000)
0
LCI
131500
(31500)
100000
598144
520
Other
LCI
118000
(118000)
0
3
Carlin UG
Reserve
5309604
(241022)
518669
(723504)
4863747
14787129
1023
3
Resource
1272538
13699
716635
(500434)
1502438
5668192
824
3
HCI
1546097
(346103)
479693
(763838)
915849
3731938
763
3
LCI
7496550
(343664)
343057
0
7495943
32570454
716
749562514330618
Battle Star
Reserve
0
Resource
0
Battle Star
HCI
212000
212000
1562440
422
LCI
646750
(200000)
202771
649521
2757712
733
Saddle
Reserve
Resource
Saddle
HCI
743000
743000
2638612
876
LCI
770000
672081
1442081
6891700
651
Rita K
Reserve
Resource
Rita K
HCI
187000
765500
952500
2955970
1002
LCI
2856000
393561
(765523)
2484038
13276107
582
Carlin Dump
Reserve
Resource
HCI
Carlin Dump
LCI
0
206201
206201
682710
939
4
Carlin Halo
Reserve
4
Resource
4
HCI
1142000
0
765500
0
1907500
7157022
829
4
LCI
4272750
(200000)
1474614
(765523)
4781841
23608228
630
Fortitude Bonanza
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
Resource
3287306
(1423027)
(34251)
1830029
115666192
049
HCI
481679
137271
618950
28833062
067
LCI
6672767
(3525321)
3147446
210844248
046
Buffalo Mtn
Reserve
Resource
HCI
LCI
0
60996
60996
3458419
055
Brooks
Reserve
Resource
HCI
11658
1130
(5618)
7170
428163
052
LCI
69627
(27102)
42525
2734783
048
Buffalo Valley
Reserve
Resource
297239
297239
14424255
064
HCI
0
0
ERRORDIV0
LCI
76989
76989
4098131
058
5
Phoenix Lone Tree
Reserve
3949662
(910689)
34251
(330420)
2742804
130090446
066
5
Resource
3584545
(1423027)
0
(34251)
2127268
130090446
051
5
HCI
493337
138401
0
(5618)
626120
29261225
067
5
LCI
6819383
(3552423)
60996
0
3327956
221135581
047
Mega
Reserve
860929
33625
(65794)
828760
9797607
263
Resource
2423117
33387
113746
2570250
37285337
214
00689346053
HCI
3433672
(1688139)
(113746)
1631787
31496466
161
1640158
31496466
161
LCI
5097296
(437724)
4659572
100645184
144
6383082
100645184
144
Vista
Reserve
323991
(17071)
5662
(59976)
252606
9979044
079
Resource
382678
15807
(5662)
392823
8346110
146
HCI
377012
(368641)
8371
199833
130
29970
199833
130
LCI
1282766
440744
1723510
78177207
069
2401472
78177207
069
Twin UG
Reserve
191736
(6750)
46077
(25741)
205322
907186
704
1670128
31696299
Resource
42820
(13750)
77142
(46077)
60135
362874
515
HCI
120000
(28556)
7315
(77160)
21599
120094
559
LCI
250000
427962
677962
2323176
908
Fiberline
Reserve
Resource
HCI
Fiberline
LCI
8644159
7315
8651474
130516619
206
Sandman
Reserve
Sandman
Resource
108801
108801
ERRORDIV0
HCI
LCI
Turquoise Ridge
Reserve
1979000
291000
2270000
5443115
1297
Resource
739000
(49000)
690000
2449402
876
HCI
LCI
1000000
(1000000)
0
Other LCI
LCI
423000
-423000
0
6
Twin Creeks
Reserve
3355656
300804
51739
(151512)
3556688
26126952
423
6
Resource
3696416
(13556)
190888
(51739)
3822009
48443723
245
6
HCI
3930684
(2085336)
7315
(190906)
1661757
31816393
162
6
LCI
16697221
(1412665)
427962
0
15712518
311662186
157
7
CCampV
Reserve
7
Resource
7
HCI
7
LCI
NA Portfolio
Reserve
21376857
(2346856)
616425
(1862567)
17783858
291932397
189
Resource
14690863
(969852)
907523
(694165)
13934369
315018556
138
HCI
9469435
(2521114)
1453529
(960362)
7441488
127817965
181
LCI Jamie Pendergast doesnrsquot include projects that were written off to 0 in 2018
67552296
(14845064)
2306629
(966544)
43647317
879496247
154
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven
Probable
Proven amp Probable
Measured
Indicated
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
1500
300
140
107200
161
5550
108700
163
5690
73
1000
288
90
100100
127
4090
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
-
-
-
16900
230
1250
84
0
0
0
0
Carlin Underground
7700
1047
2580
7100
1005
2290
14800
1027
4870
83
900
735
220
1400
554
440
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
12460
Total Carlin
26100
473
3970
181100
146
8490
207200
187
12460
77
1900
507
310
101500
139
4530
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
12000
076
290
120800
065
2530
132800
066
2820
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Lone Tree
3600
029
30
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
2850
Total Phoenix Lone Tree
15600
064
320
120800
065
2530
136400
065
2850
70
6400
051
100
96800
049
1530
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
970
Total Long Canyon
600
218
50
21700
131
920
22300
134
970
76
500
384
60
14000
350
1570
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
1300
296
110
23600
161
1220
24174
151
1170
77
1700
284
150
31300
213
2150
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
28400
209
1910
71
8200
203
530
8200
203
530
-
-
-
8200
201
530
0
0
3240
Total Twin Creeks
1300
263
110
52000
187
3130
53300
189
3240
71
9900
214
680
31300
214
2150
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
12024
1362
5267
9831
1216
3844
21855
1297
9111
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
9111
Total TR
12024
1362
5267
9831
1216
3844
21855
1297
9111
0
3977
770
984
3252
823
860
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Goldstrike Open Pit
50281
285
4609
8706
378
1058
58987
299
5667
1243
140
56
1768
104
59
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
5233
1132
1904
3675
807
954
8908
998
2858
2329
960
719
2824
879
798
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
2257
320
232
2006
279
180
4263
301
412
3596
106
122
10229
104
342
13825
104
464
1140
131
48
14965
106
512
0
0
8937
Total Goldstrike
57771
363
6745
14387
474
2192
72158
385
8937
0
7168
389
897
14821
252
1199
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Cortez Open Pit
17642
201
1138
127412
186
7599
133665
113
4845
3353
184
198
53374
173
2971
53695
128
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
982
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
8737
Total Cortez
17642
201
1138
127412
186
7599
145054
187
8737
3353
184
198
53374
173
2971
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Goldrush
6399
969
1993
6399
969
1993
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
1993
Total Goldrush
0
ERRORDIV0
0
6399
969
1993
6399
969
1993
0
ERRORDIV0
0
30942
940
9353
30942
940
9353
10700
830
2855
41642
912
12208
550
891
158
3631
1056
1233
8778
1018
2873
26500
Barrick Nevada Pre JV
84431
436
11833
155571
293
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
28687
520
4800
143767
450
20801
17332
721
4018
91806
232
6845
8778
1018
2873
21798
Newmont Nevada Pre JV
46606
385
5767
378058
132
16031
424664
160
21798
19694
220
1396
244413
127
9995
265107
134
11391
45524
181
2649
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
29703
Barrick Nevada Post JV (615)
80588
`
10824
328182
179
18879
408770
226
29703
20417
303
1986
212783
217
14860
233815
224
16846
45640
312
4581
279455
238
21427
89805
250
7230
515284
157
25939
5398
1018
1767
18595
Newmont Nevada Post JV (385)
50449
418
6776
205447
179
11819
255896
226
18595
12781
303
1243
133206
217
9303
146372
224
10546
28571
312
2868
174943
238
13414
56219
250
4526
322576
157
16238
3380
1018
1106
48298
TOTAL NEVADA GOLD MINES
131037
418
17600
533629
179
30698
664666
226
48298
33198
303
3229
345989
217
24163
380187
224
27392
74211
312
7449
454398
238
34841
146024
250
11756
837860
157
42177
8778
1018
2873
Including Fourmile
26500
Barrick Nevada Pre JV
84431
418
11833
155571
179
14667
240002
343
26500
13504
422
1833
101576
434
14168
115080
432
16001
29854
573
5497
144934
461
21498
275144
221
19549
1642421
150
79294
8778
1018
2873
Including Sandman
21798
Newmont Nevada Pre JV
46606
418
5767
378058
179
16031
424664
160
21798
19694
220
1396
245613
127
10045
266307
134
11441
46624
181
2709
310631
141
14040
128691
187
7737
746054
147
35332
0
ERRORDIV0
0
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
Fourmile
1167
1858
697
1167
1858
697
Total Fourmile
1167
1858
697
1167
1858
697
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
Sandman
248
1200
123
50
1200
123
50
1100
185
60
0
0
Total Sandman
0
248
0
0
000
0
1200
123
50
1200
123
50
1100
185
60
0
000
0
0
0
Buffalo Valley (70)
-
-
-
-
-
-
-
14100
065
290
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
343
10730
12522
16082
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
10700
8
2855
41642
9
12208
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
23858
464
3560
111527
449
16082
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
All these have been checked and are correct as of end 2018
Conversions
ozt to gt
311034768
Proven amp Probable
MampI
Inferred
MIampI
Inventory High Confidence
Inventory Low Confidence
Undrilled Potential
GOLD RESERVES
ktonnes
gt
koz
Recovery
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
ktonnes
gt
koz
Probability
Carlin Open Pit
108700
163
5690
73
101100
129
4180
9600
101
310
110700
126
4490
52237
093
1562
282710
115
10453
Carlin Leach Pads
66800
030
650
51
0
0
0
0
Carlin Stockpiles
16900
230
1250
84
0
0
0
0
Carlin Underground
14800
1027
4870
83
3300
604
660
2300
955
740
5600
778
1400
3732
763
915
32570
716
7498
Carlin Halo
7157
828
1905
23608
630
4782
Total Carlin
207200
187
12460
77
104400
144
4840
11900
274
1050
116300
158
5890
63126
216
4383
338889
209
22732
Phoenix
132800
066
2820
70
103200
049
1630
14500
064
300
117700
051
1930
29261
067
630
217046
047
3280
Buffalo Valley (70)
-
-
-
-
14100
065
290
400
038
0
14500
062
290
0
4089
058
76
Lone Tree
3600
029
30
32
-
-
-
-
-
-
-
-
-
0
0
Total Phoenix Lone Tree
136400
065
2850
70
117300
051
1920
14900
063
300
132200
052
2220
29261
067
630
221135
047
3356
Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Total Long Canyon
22300
134
970
76
14500
352
1630
5600
194
350
20100
306
1980
3614
656
762
7810
731
1836
Twin Creeks Open Pit
24174
151
1170
77
32900
216
2290
12700
164
670
45600
202
2960
31696
161
1640
178822
111
6387
Twin Creeks Underground
726
700
160
77
100
380
10
200
590
40
300
518
50
120
559
22
2323
908
678
Twin Creeks Stockpile
28400
209
1910
71
8200
203
530
-
-
-
8200
201
530
0
0
Total Twin Creeks
53300
189
3240
71
41200
214
2830
12900
171
710
54100
204
3540
31816
162
1661
181146
121
7065
TR (100)
21855
1297
9111
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
7164
960
2204
25
Total TR
21855
1297
9111
0
7229
793
1844
2496
1193
957
9725
896
2801
3495
1070
1202
4655
1120
1676
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Ox 0 SR 100 DR 0
Goldstrike Open Pit
58987
299
5667
3011
119
115
214
218
15
3225
125
130
0
0
0
Goldstrike Underground
8908
998
2858
5153
916
1517
1603
891
459
6756
910
1976
13589
660
2884
6674
920
1974
34275
352
3879
South Arturo (60)
4263
301
412
13825
104
464
1140
131
48
14965
106
512
0
0
Total Goldstrike
72158
385
8937
0
21989
296
2096
2957
549
522
24946
326
2618
13589
660
2884
6674
920
1974
Ox 34 SR 0 DR 66
Ox 21 SR 0 DR 79
Ox 45 SR 0 DR 55
Ox 25 SR 0 DR 75
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Cortez Open Pit
133665
113
4845
53695
2212
10965
065
228
64660
117
2440
572
411
76
76645
080
1971
27375
076
669
Cortez Underground
11389
1063
3892
3032
957
2193
677
477
5225
854
1434
0
1365
933
409
17172
696
3843
Total Cortez
145054
187
8737
56727
174
3169
13158
167
705
69885
172
3874
572
411
76
78010
095
2381
Ox 44 SR 0 DR 56
Ox 38 SR 5 DR 57
Ox 100 SR 0 DR 0
Goldrush
6399
969
1993
30942
940
9353
11867
931
3552
42809
938
12905
550
891
158
3631
1056
1233
8778
1018
2873
Total Goldrush
6399
969
199300
3094200
940
935300
1186700
931
355200
4280900
938
1290500
55000
891
15755
363100
1056
123277
877800
1018
287299
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Ox 0 SR 0 DR 100
Barrick Nevada Pre JV
240002
343
26500
115080
432
16001
29854
573
5497
144934
461
21498
17332
721
4018
91806
232
6845
8778
1018
2873
Newmont Nevada Pre JV
424664
160
21798
279207
130
11681
45924
179
2649
325131
137
14330
128691
187
7737
750143
147
35408
0
ERRORDIV0
0
Barrick Nevada Post JV (615)
408770
226
29703
242487
218
17024
46603
334
5010
289090
237
22034
89805
250
7230
517799
156
25986
5398
1018
1767
Newmont Nevada Post JV (385)
255896
226
18595
151801
218
10658
29175
334
3136
180975
237
13794
56219
250
4526
324150
156
16267
3380
1018
1106
TOTAL NEVADA GOLD MINES
664666
226
48298
394287
218
27682
75778
334
8146
470065
237
35828
146024
250
11756
841949
156
42253
8778
1018
2873
Note Ox (Oxide) SR (Single Refractory) DR (Double Refractory)
Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Total Hemlo
24102
248
1924
37470
131
1574
6023
337
653
43493
159
2227
0
0
Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Total Golden Sunlight
366
170
20
2897
176
164
1604
163
84
4501
171
248
0
0
Donlin
270668
224
19503
46108
202
2997
0
0
Total Donlin
270668
224
19503
46108
202
2997
316776
221
22500
0
0
BARRICK GLOBAL
264470
335
28444
426115
272
37242
83589
343
9231
509704
284
46473
0
0
343
10730
12522
16779
cortezGoldrsuh
145054
2
8737
0
56727
2
3169
13158
2
705
69885
2
3874
572
4
76
78010
1
2381
0
0
0
0
6399
10
1993
0
30942
9
9353
11867
9
3552
42809
9
12905
550
9
158
3631
11
1233
8778
10
2873
0
151453
220
10730
87669
444
12522
25025
529
4257
112694
463
16779
1122
646
233
81641
138
3614
check
5697
644
1250
4887
12460
00323276
300
5
Endnotes
5 A Tier One gold asset is a mine with a stated mine life in excess of 10 years with annual production of at least five hundred thousand ounces of gold and total cash cost per ounce within the bottom half of Wood Mackenziersquos cost curve tools(excluding state-owned and privately owned mines) Total cash cost per ounce is based on data from Wood Mackenzie as of August 31 2018 except in respect of Barrickrsquos mines where Barrick relied on its internal data which is more currentand reliable The Wood Mackenzie calculation of total cash cost per ounce may not be identical to the manner in which Barrick calculates comparable measures Total cash cost per ounce is a non-GAAP financial performance measure withno standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other issuers Total cash cost per ounce should not be considered by investors as an alternative to cost of sales or to other IFRSmeasures Barrick believes that total cash cost per ounce is a useful indicator for investors and management of a mining companyrsquos performance as it provides an indication of a companyrsquos profitability and efficiency the trends in cash costsas the companyrsquos operations mature and a benchmark of performance to allow for comparison against other companies
6 Cost of Sales estimates stated prior to any fair value adjustments relating to the creation of the joint venture and will be updated in due course once these adjustments have been finalized
7ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are non-GAAP financial performance measures ldquoTotal cash costsrdquo per ounce starts with cost of sales applicable to gold production but excludes the impact ofdepreciation the non-controlling interest of cost of sales and includes by-product credits ldquoAll-in sustaining costsrdquo per ounce begin with ldquoTotal cash costsrdquo per ounce and add further costs which reflect the additional costs of operating a mineprimarily sustaining capital expenditures sustaining leases general amp administrative costs minesite exploration and evaluation costs and reclamation cost accretion and amortization Barrick believes that the use of ldquototal cash costsrdquo perounce and ldquoall-in sustaining costsrdquo per ounce will assist investors analysts and other stakeholders in understanding the costs associated with producing gold understanding the economics of gold mining assessing our operating performanceand also our ability to generate free cash flow from current operations and to generate free cash flow on an overall Company basis ldquoTotal cash costsrdquo per ounce and ldquoAll-in sustaining costsrdquo per ounce are intended to provide additionalinformation only and do not have any standardized meaning under IFRS Although a standardized definition of all-in sustaining costs was published in 2013 by the World Gold Council (a market development organization for the gold industrycomprised of and funded by 27 gold mining companies from around the world including Barrick) it is not a regulatory organization and other companies may calculate this measure differently Starting in the first quarter of 2019 Barrick hasrenamed cash costs to total cash costs when referring to its gold production The calculation of total cash costs is identical to Barrickrsquos previous calculation of cash costs with only a change in the naming convention of this non-GAAPmeasure These measures should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS Further details on these non-GAAP measures are provided in the MDampA accompanying Barrickrsquos financialstatements filed from time to time on SEDAR at wwwsedarcom and on EDGAR at wwwsecgov
8 Guidance is based on a gold assumptions of $1250oz and oil price assumptions of $65bbi for WTI and $70bbi0 for Brent respectively
Slide Number 1
Cautionary Statement on Forward Looking Information
Slide Number 3
Nevada Gold Mines JV will be the single largest gold producer in the worldhellip
Assets in Northeastern Nevadahellip2018
Strong Reserve amp Resource basehellipas at year end 2018
One Team with One Missionhellip
Best Assetshellip3 Tier One5 and potentially One in the making
Partnering with Communitieshellip
Creating Value for All Stakeholdershellip
Synergieshellipexpecting to deliver up to $500m per year for first 5 years
Next Stepshellip2019 timeline
Nevada Gold Mineshellipbest assets with best people to deliver best value to stakeholders
