"We have tested autonomous trucks and underground battery-driven equipment, and currently we have several open-pit drills at Carlin operating autonomously."

Peter Richardson

EXECUTIVE MANAGING DIRECTOR, NEVADA GOLD MINES (NGM)

April 26, 2024

Can you provide an overview of NGM's exploration strategy and plans for 2023?

In the first half of 2023, we successfully executed planned outages at our Carlin processing facilities, including the roasters and autoclave. We also completed the conversion of the Goldstrike autoclave processing facility back to conventional carbon-in-leach in January and February, with production starting in March. The first half of 2023 was lower in production due to planned processing restrictions, but we anticipate a stronger second half.

Other significant milestones include ongoing expansion projects at the Gold Quarry roaster to increase throughput by 15% to 20%, with improvements in the grinding and roaster circuits. Our safety campaign "Journey to Zero" has been relaunched across Barrick, contributing to our second-ever injury-free month in April. We have made strides in proactive maintenance, particularly at the Turquoise Ridge Sage Autoclave, with plans to implement learnings at Turquoise Ridge UG mine and Goldstrike Autoclave. Despite challenging winter conditions in Q1, we have focused on rebounding through enhanced underground delivery at Carlin, Cortez, and Turquoise Ridge, and emphasizing stability in our process plants. Additionally, we have initiated the delivery of a new truck fleet, with nine trucks in operation by the end of Q3 and a total of 62 Komatsu 930E-5 haul trucks to be delivered between 2023 and 2025 for Cortez and Carlin. Overall, we are seeing positive trends in safety and performance across Nevada Gold Mines.

Can you provide an overview of NGM's exploration strategy and plans for the current year?

Our exploration efforts involve drilling near existing targets and extending further out. Noteworthy projects include the 100% Barrick-owned Fourmile project adjacent to Cortez’s Goldrush, which is considered the best-underdeveloped asset in its class. Additional focus areas include drilling around Robertson to uncover potential mergers of small pits and expansion to the West at Distal. Turquoise Ridge is a key site for drilling to expand the Cricket Corridor and close gaps in the south zone (BBT Corridor). The Greater Leeville area is also a priority, with active drilling in targets such as Little Boulder Basin, Western Spur, and North Leeville.

How does Nevada Gold Mines approach ESG factors and sustainability?

Our approach involves the development of the NGM owned TS solar plant, a 200 MW solar facility, with 150 MW already installed. Additionally, we are transitioning our light vehicle fleet to electric vehicles, having deployed over 50 and planning to add 50 more in 2024. We are also building charging stations to support this transition. In terms of community engagement, we have invested in Nevada Gold Mines Early Learning Centers, allocating over US$4.5 million to establish high-quality, affordable childcare facilities. Furthermore, we are committed to the NGM Recreation Center in Elko, including a new state-of-the-art swim arena and recreational facilities.

Can you discuss Nevada Gold Mines approach to utilizing new technologies?

Our initiatives have included testing autonomous trucks and underground battery-driven equipment. Currently, we have several open-pit drills at Carlin operating autonomously, with the capability of remote control. In our underground operations, we utilize remote mucking, where operators control loaders from the surface using joysticks and cameras. This method proves to be efficient, safe, and highly productive. The absence of operators on the equipment allows us to extend operating hours, even during activities like blasts and shift changes.

We have invested in a new truck fleet designed to be autonomous-ready. While we are in the early stages, we are actively exploring opportunities to test and integrate autonomous trucks.

In our processing facilities, we are working to enhance control systems, improving reliability, productivity, and stability.

What are Nevada Gold Mines’ goals for 2024?

We emphasize four pillars: license to operate including safety, environmental performance, GHG reduction, and community engagement. Another pillar focuses on people and culture, involving employee development and fostering our desired culture with the Barrick DNA at the core. Operational excellence is crucial, encompassing target delivery, cost management, and technological development, particularly in autonomous and remote operations. The final aspect is growth, which involves ensuring a solid 10–15-year plan through proactive exploration drilling, studies, and facility expansion to sustain our strategic pillars.

To summarize our continued goals; safely producing while developing our people and being a responsible community partner with a continued focus on long-term growth.

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