North Mara

Site Visit

September 2010

0

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Who Are We…

Barrick acquired North Mara in February 2006 as part of the Placer Dome acquisition.

North Mara Mine includes three open pit deposits -

– Gokona

– Nyabigena and

– Nyabirama

Significant underground potential

Mining Operations at 22Mt/y includes conventional hard rock open pit mining using Terrex drills, RH 120/170 hydraulic shovels and CAT 785 mechanical drive haul trucks.

Ore Processing at 2.8Mt/y includes crushers, an open circuit SAG mill and closed circuit ball mill. Carbon in leach (CIL) and gravity technology extract the gold, followed by electrowinning. Gold is refined to doré on site.

North Mara is commissioned into the national power grid

Location:Where Are We…

Location:North Mara Community

Gokona

Nyabirama

Nyabigena

Environment:Management

Environmental Management System (EMS)

– ISO14000 compatible

Monitoring

• Air

• Water

• Land

• Bio-diversity

Legal Register

– Permits, Licenses, Agreements, Activity Based

Audits/ Inspections / Incidents

– Internal – Barrick Corporate once a year.

– External – NEMC and other government agencies

Submit quarterly and annual reports to the government.

Environment:Monitoring Regime

UpstreamDown Stream Midstream

Environment

Compliance -

– Externally imposed: Permits, legislation, EIS, SOX & EIA’s,

Community & other WWF, LVBO, NEMC, Government

– Voluntarily imposed: Cyanide code, ICMM, ISO14000, NYSE

– Self-imposed: GHG (Greenhouse gases e.g carbon footprint, AQA),

H2O Conservation (plant), SOX, Closure

Reserve & Resource

* Resource excludes Reserves

Category 31st December 2007

31st December 2008

31st December 2009

Proven 2,189,000 1,760,000 1,198,603

Probable 1,305,000 1,207,000 1,472,255

Stockpiles 100,000 126,000 278,320

Total Reserve 3,594,000 3,093,000 2,949,178

Measured 402,000 498,000 218,641

Indicated 399,000 628,000 642,335

Inferred 98,000 43,000 119,057

Total Resource 899,000 1,169,000 980,033

People:Organisational Structure

People:Staffing Detail

Gold Plant Process Flow

Performance – YTD June 2010

North Mara Three month ended Six months ended

30 June 30 June

2010 2009 2010 2009

Tons mined Kt 5,133 4,022 9,644 7,916

Ore mined Kt 764 1,559 1,447 2,738

Ore milled Kt 691 651 1,338 1,328

Head grade g/t 2.8 3.0 3.0 3.1

Mill recovery % 84.5 80.6 82.2 80.1

Ounces produced Koz 52 51 106 105

Ounces sold Koz 54 52 108 105

Cash cost/oz sold $/oz 513 390 479 459

Cash cost/ton milled $/t 40 31 39 36

Capital expenditure $(000) 20,552 4,339 36,682 13,272

Gold Production

0

50,000

100,000

150,000

200,000

250,000

Ou

nc

es

2007 2008 2009 H1

2010

Year

Gold Production

Au Recovered

H1 2010 Highlights

Retained/strengthened NMSLT

Engaging the community

Engaging the government

Delivered on Commitments

• Consistent delivery

• Met/exceed budget for 11 months now

Seeking Additional Ounces

• Underground potential

• In-pit resources

Near Mine Exploration - 2011

June 2010 Pit

Stage 3 Pit

Gokona Orebody Rama Orebody

June 2010 Pit

Stage 4 Pit

Gokona

Underground

(Feasibility)

Rama

Underground

(Conceptual)

Potential Additional Mineable Ounces

GENA EAST

New Potential Reserve

Ounce

EXTENSIONAL DRILLING

35m

150m

2011 Satellite Pit Potential

Drilling in 2010 to deepen pit & access more ounces.

Potential c. 50,000 oz

Drilling for Additional EOY 2010 Gena East + Far East

Potential c. 50,000oz

Focus Areas - FYR 2010

• Stakeholder Relationship Management

• Water Management

•Governance/Audits

•Land Acquisition

•Operational Excellence

•Employee Mobilization

•Capital Management

•Grow Resource Base

Short – Mid-Term Priorities

Top Initiatives Planned - FYR 2010 Top Initiatives Planned - FYR 2014 (Medium Term)

Govt/Community Relations

Advance the Engagement Process – (Govt and Communities)

Close-out historic agreements

Aquire LOM land

Renew - EMP and SML and Permits

Enhance relationships through mutual trust and accountability

Partner Community/District/Region in development plans

Mining and Geology

R C grade control - (MCF 99%)

VAB - (fragmentation optimization)

Optimize Plant Head-Grade - (RC/Stock-pile mgt)

New Explosive Plant

Gokona II and Rama Stage III cut-backs

Discharge of Gokona/Gena/Rama water

Seek additional resources – (within operating pits and beyond)

Execute LOM pit cut-backs

Determine/Accelerate underground potential

People Employee Mobilization - (Competence, Performance and Reward)

Site facilities and employee transportation People Development - (technical & leadership skills)

Gold Plant Optimization

Plant Up-grade - (when complete up to 4% additional recovery and improved throughput)

Complete TSF Lift - (1260m)

WTF - (Water treatment facility)

Cyanide de-toxification

Complete Plant up-grades

Optimize gold production - (plant performance)

Execute LOM TSF Lifts - (1280m)

Mine Equipment Performance

Complete Gokona Work-shops

Implement Jig-saw - (HME monitoring system)

Implement In-thinc - (Vehicle monitoring system)

Optimize performance - (people and equipment)

Cost Management

Achieve planned $/t and $/oz

Capital Management

Contractor Management

Centralized Procurement

MARC/Owner - (trade-off study)

Stabilized power supply