Barrick Joins Fight Against Covid-19 in Zambia

All amounts expressed in US$

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX)

LUSAKA, Zambia, April 07, 2020 (GLOBE NEWSWIRE) -- Barrick Gold Corporation’s country manager for Zambia, Nathan Chishimba, today handed a cheque for US$530,000 to Minister of Health Hon Dr Chitalu Chilufya, Minister of Mines & Mineral Development Hon Richard Musukwa and Provincial Minister Hon Nathaniel Mubukwanu.  The donation is designed to support the country in combating and containing the Covid-19 pandemic.

At the ceremony, Chishimba said Barrick had already introduced extensive measures to protect workers and their families living in and around its Lumwana mine against the virus.

“As a committed partner to Zambia we would also like to make a contribution to the government’s fight against the pandemic.  We are consequently funding the provision of medical equipment to the value of US$340,000 at the national level, US$100,000 for the North-Western province and US$90,000 for the Kalumbila district,” he said.

Barrick’s chief operating officer for Africa and the Middle East, Willem Jacobs, said the company was engaging with Zambia’s national Covid-19 taskforce to convert its support into immediate action.  Its senior management in Zambia was already working closely with the local health authorities.

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Certain information contained in this press release, including any information as to Barrick’s strategy or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “support”, “design”, “would”, “engage”, “convert” ““contain”,  “will”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to financial support and preventative measures implemented by Barrick to combat and contain the Covid-19 pandemic in Zambia, including by funding the provision of medical equipment at the national, provincial and district levels and engaging with Zambia’s national Covid-19 taskforce and local health authorities while maintaining the Zambian mine operational.

Forward-looking statements are necessarily based upon a number of estimates and assumptions; including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: the risks associated with Covid-19 and other infectious diseases presenting as major health issues; failure to comply with environmental and health and safety laws and regulations; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, and disruptions in the maintenance or provision of required infrastructure and information technology systems; changes in national and local government legislation, taxation, controls, or regulations and/or changes in the administration of laws, policies, and practices, expropriation or nationalization of property and political or economic developments in Zambia; lack of certainty with respect to foreign legal systems, corruption and other factors that are inconsistent with the rule of law; risks associated with illegal and artisanal mining; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; timing of receipt of, or failure to comply with, necessary permits and approvals; litigation and legal and administrative proceedings; damage to the Barrick’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Barrick’s handling of environmental matters or dealings with community groups, whether true or not; contests over title to properties, particularly title to undeveloped properties, or over access to water, power, and other required infrastructure; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development, and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding, and gold bullion, copper cathode, or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).

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