Barrick Receives Record of Decision on Cortez Hills 

TORONTO, ON - Barrick Gold Corporation reported that the federal Bureau of Land Management (BLM) has issued a Record of Decision (ROD) approving the Environmental Impact Statement (EIS) for the Cortez Hills project in Nevada. The Record of Decision is effective as of November 12, 2008.
"This is a vitally important achievement for Barrick and for the communities where we do business in Nevada," said Greg Lang, President of Barrick's North America region. "The Cortez Hills project creates new economic development and job opportunities in rural Nevada at a time when other industry projects in Nevada are being shelved and jobs are being lost."
The Cortez property is expected to become a significant contributor to Barrick's quality Nevada production base in the first half of 2010, with average annual production increasing to about 1.0 million ounces of gold for each of the first full five years of production. The Cortez Hills project is on track with its initial capital budget of about $500 million.
In a related development, Barrick recently signed an historic Collaborative Agreement with leaders of several Western Shoshone communities in Nevada. The Agreement enables Barrick and these communities to work together in partnership to improve education, business and employment opportunities for the Western Shoshone, enhance awareness of Native culture and to build greater mutual understanding. The Collaborative Agreement also establishes a Western Shoshone Educational Legacy Fund tied directly to revenues from the Cortez Hills mine. The Fund is expected to provide financial support for generations of Western Shoshone seeking higher education.
"This Agreement is a major accomplishment and provides a solid foundation for us to work on shared objectives with these communities," said Lang. "Barrick is the first company to do this in Nevada and I am very proud to have a role in this ongoing effort."
The Cortez Hills Project has been the object of criticism from activists who oppose mining and support failed claims of Native American title to much of Nevada's public lands. These groups are threatening litigation against the BLM's approval of the Cortez Hills EIS. The Company will vigorously and expeditiously oppose any challenge.
The company's address is 161 Bay Street, Suite 3700, P.O. Box 212, Toronto  M5J 2S1, (416) 861-9911, fax: (416) 861-2492.