P E R UP E R U

Investments of Barrick in PerúToronto, March 2006

TABLE OF CONTENTS

Barrick in Peru

Pierina Mine

Lagunas Norte Mine

Environmental Protection and Community Programs

Conclusions

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BARRICK IN PERU

1993-1994 Barrick becomes active in Peru; Minera Barrick Misquichilca S.A. was constituted as a company 1996 - Acquired Arequipa Resources, owner of the Pierina exploration project advances 1997 - The EIA for Pierina was approved Operations began in 1998 2001 - MBM was awarded the bid regarding the Alto Chicama Concession 2004 - The EIA for Alto Chicama Lagunas Norte was approved Q-2 2005 Production began at Lagunas Norte.

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LIMA

Trujillo

Pacific Ocean

Cajamarca

Arequipa

Huamachuco

HuarazPierina

Alto Chicama

Barrick in Peru

areaenlarged

PIERINA MINE

Located in the Ancash Region

Open-pit mine Average remaining grade

1.00 grams per tonne Production to date:

Crushing capacity: 42,000 tonnes per day

Total tonnes per day: 140,000

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LAGUNAS NORTE

Located in the La Libertad Region

Open-pit mine Average grade 1.25 grams

per tonne Production to date:

Crushing capacity: 63,000 tonnes per day

Total tonnes per day: 100,000

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BARRICKS CONTRIBUTION TO THE REGION AND THE COUNTRY

Gold is the countrys N° 1 export Peru is now the largest producer in South America

and ranks 5th in the world thanks in part to Barrick´s Pierina and Lagunas Norte mines

The company has paid over $220 million in various taxes

Capital asset investments: $280 million to build Pierina, $340 million to build Lagunas Norte, and further sustaining capital

Approximately $38 million in taxes will be returned to the regions based on the 2005 results

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PIERINA MINE

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PIERINA MINEP E R UP E R U

PIERINA MINEP E R UP E R U

PIERINA MINEP E R UP E R U

PIERINA LEACH PAD

Environmental Panel

PIERINA PONDS

Sediment PondCollection Pond

Polishing Pond

PIERINA COLLECTION POND

PIERINA POLISHING POND

LAGUNAS NORTE / ALTO CHICAMA

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Lagunas Norte ProjectLagunas Norte ProjectAlto Chicama DistrictAlto Chicama District

Located in the District of Quiruvilca, in Santiago de Chuco,La Libertad province

Barrick has been exploring it since 2001 It was awarded the public bid in January 2001 It belonged to Centromin Peru Similar in size and cash cost structure to Pierina Capital investment: $340 million Life of Mine: At least 10 years Reserves calculated at 8.3 million ounces of gold The Lagunas Norte-Alto Chicama process is similar

to the one in Pierina

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LAGUNAS NORTE-ALTO CHICAMA

LAGUNAS NORTE-ALTO CHICAMA

#³

#³

Trujillo

Huamachuco

Alto Chicama

Lagunas Norte

Otuzco

Palla

Trujillo

Casca

Julcan

Cajabamba

Sanchez Carrión

Santiago de Chuco

Ascope

Viru

0 10 20 Kilometers

N

Located in La Located in La Libertad, between Libertad, between the provinces of the provinces of OtuzcoOtuzco and Santiago and Santiago de de ChucoChuco, 4,100 , 4,100 meters above sea meters above sea levellevel

The camp is located in The camp is located in QuiruvilcaQuiruvilca, at km. 132 , at km. 132 of the Trujillo of the Trujillo HuamachucoHuamachuco roadroad

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LAGUNAS NORTEP E R UP E R U

LAGUNAS NORTEPANORAMIC VIEWP E R UP E R U

LAGUNAS NORTE - OPERATIONS

PRIMARY CRUSHER SECONDARY CRUSHER

LAGUNAS NORTE OPERATIONSCONVEYOR BELT

LAGUNAS NORTE OPERATIONSLEACH PAD PHASE 0

LAGUNAS NORTE OPERATIONSLEACH PAD PHASE 1

LAGUNAS NORTE OPERATIONSPROCESS PLANT

LAGUNAS NORTE OPERATIONSSMELTING

ENVIRONMENTALPROTECTION AND

COMMUNITY PROGRAMS

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PIERINA ENVIRONMENTAL PROTECTION / PRACTICESP E R UP E R U

Erosion Control

PIERINA ENVIRONMENTPIERINA ENVIRONMENTDRAINAGE IMPROVEMENT FOR DRAINAGE IMPROVEMENT FOR

EROSION CONTROLEROSION CONTROLP E R UP E R U

13.84 Km of erosion control structures (stone masonry and gabions)

23 Km of erosion control structures in ravines (sedimentation ponds, stone masonry and gabions, etc.)

PIERINA CONCURRENT RECLAMATION

1. Earth movement

2. Reshaping of slopes

3. Soil Compacting

4. Top soil covering5. Replanted area

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PIERINA - ENVIRONMENTAL PROTECTION

Wastedumprecovery

Remediation

PIERINA SOCIAL INVESTMENT

Housing and School

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Houses at Mataquita

PIERINA SOCIAL INVESTMENT

Irrigation

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Pastures

PIERINA SOCIAL INVESTMENTCATTLE RAISING

Agriculture

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PIERINA SOCIAL INVESTMENT

Agriculture

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LAGUNAS NORTE ENVIRONMENTEROSION CONTROL

LAGUNAS NORTE ENVIRONMENTAL PROTECTION

747 sedimentation dikes with gabions and stone masonry and 27.7 km of silk fences

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LAGUNAS NORTE ENVIRONMENTAL PROTECTION

Sediment flows are controlled in the areas below the mine

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Reclamation Areas

Sediment containment terraces below the slopes

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LAGUNAS NORTE ENVIRONMENTAL

PROTECTION

LAGUNAS NORTE LAGUNAS NORTE ENVIRONMENTALENVIRONMENTALCHUYUGUAL TREE NURSERYCHUYUGUAL TREE NURSERY

Local workers build Local workers build the terraces to plant the terraces to plant quenualesquenuales and pines and pines

seedlingsseedlings

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Capacity for 200,000 trees per year

Top soil StockpileTop soil Stockpile

LAGUNAS NORTE ENVIRONMENTLAGUNAS NORTE ENVIRONMENTTOP SOIL STRIPPING AND TRANSFER TOP SOIL STRIPPING AND TRANSFER

CONTROLCONTROL

Top soil accumulations before Top soil accumulations before its final transfer to stockpiles.its final transfer to stockpiles.

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BUILDING TERRACES

LAGUNAS NORTE ENVIRONMENTCOMMUNITY NURSERY AT LOS LOROS

SEEDLINGS

40 COMMUNITY MEMBERS BENEFIT FROM THIS PROJECTPROGRAMMED GOAL: 30.000 FOREST PLANTS

24 HECTARES WILL BE PLANTED AS ARESULT OF THIS PROJECT

LAGUNAS NORTE - ENVIRONMENTTREE NURSERIES

QuenualesQuenuales and pines seedlingsand pines seedlings

LAGUNAS NORTE ENVIRONMENTWATER MONITORING WITH COMMUNITY

REPRESENTATIVES

LAGUNAS NORTE ENVIRONMENT

LAGUNAS NORTE SOCIAL INVESTMENT

IMPROVEMENT OF THE PONCE ROAD ( 8,5 KM )EL SAUCO COMMUNITY

65 Families will benefit from this work

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Participative Meeting with community

Meeting with authorities to verify route

IRRIGATIONIRRIGATION

GRAZINGGRAZINGPASTURE CUTTINGPASTURE CUTTING

PREPARING THE LANDPREPARING THE LAND

LAGUNAS NORTE SOCIAL INVESTMENT

MODEL FARM AT EL SAUCO

LAGUNAS NORTE SOCIAL INVESTMENTWHEAT SOWING

PREPARING THE GROUND

READY FOR HARVESTINGMATURING PROCESS

SOWING THE WHEAT

10 FAMILIES WILL DIRECTLY BENEFIT FROM THIS PROJECT

3 CLASSROOMS WERE BUILT AT SANAGORAN

AFTER

BEFORE

80 STUDENTS WILL BENEFIT FROM THIS PROJECT

LAGUNAS NORTE SOCIAL INVESTMENT

HEALTH CAMPAIGNS

LAGUNAS NORTE SOCIAL INVESTMENT

TEXTILES AND LOOMS

COMMUNITY MEETING

CHUYUGUAL WOMEN

SHOWING THEIR WEAVING SKILLS

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LAGUNAS NORTE SOCIAL INVESTMENT

LAGUNAS NORTE SOCIAL INVESTMENTIMPROVEMENT OF THE POTABLE WATER SYSTEM

PAMPA VERDE

COVERING THE MAIN PIPELINEVERIFICATION OF DELIVERY

OF THE POTABLE WATER

STUDENTS, TEACHERSAND MBM TECHNICIANS

LAGUNAS NORTE SOCIAL INVESTMENTFARM TRAINING PROGRAM

EXPERIMENTAL FARMINGPilot Program GUINEA PIG FARMS

LAGUNAS NORTE SOCIAL INVESTMENTCAREER ORIENTATION FAIR - HUAMACHUCO

CONCLUSIONS

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Barrick has been in Peru for 14 years We have has successfully participated in privatization

processes We have been able to obtain two tax stability

agreements one for each property. Both tax stability agreements have been respected in full

On-going operations since 1998 Second operation started in Q-2 2005 We have invested an average of $6 million in exploration

during the last 6 years Our investment to date in the country: $700 million

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COUNTRY ADVANTAGES

Great mining potential Good macro economic standing Country has long mining tradition, thus has

qualified workers Exports have duplicated in one year Transparent, comprehensive and balanced

permitting process Favorable balance of payment Legal and fiscal transparency and stability

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Investments of Barrick in PerúToronto, March 2006