TORONTO, ON – Barrick Gold reported – Third quarter gold production was 1.93 million ounces at total cash costs of $370 per ounce, and copper production was 99 million pounds at total cash costs of $0.91 per pound. Barrick currently expects full year production of approximately 8.1 million ounces of gold at total cash costs of about $350 per ounce and 400 million pounds of copper at total cash costs of about $0.90 per pound, in line with original 2007 guidance.

In Q3 2007, Barrick produced 1.93 million ounces of gold at total cash costs

of $370 per ounce. As expected, Q3 was a higher cost quarter due to waste

stripping and mine sequencing at a number of operations, including

activities to access higher grade ore at Veladero. The realized gold price

was $681 per ounce, 21% higher than a year ago, and in line with the average

third quarter spot price of $680 per ounce.

The Company also produced 99 million pounds of copper at total cash costs of

$0.91 per pound during Q3 2007 versus 95 million pounds at total cash costs

of $0.80 per pound in the prior year quarter. The average realized price for

copper sales in Q3 2007 was $3.49 per pound.

Due to mine sequencing this year at a number of operations, average

processed grades are about 10% below reserve grade year-to-date,

representing one of the major factors in the increase in 2007 cash costs

over 2006. Within the next few years, the Company expects a gradual trend

back towards reserve grade to help mitigate other cash cost pressures.

The North American business unit contributed 0.79 million ounces at total

cash costs of $381 per ounce. The Goldstrike complex produced 0.39 million

ounces at cash costs of $388 per ounce as waste stripping continued in the

Betze-Post pit. The underground operation returned to near expected levels

after a transition to zone mining earlier in the year. The Company expects

to process lower grade stockpiles at Goldstrike in the final quarter of the

year as the open pit continues in a high waste stripping phase. The new Ruby

Hill mine continued to ramp up smoothly, producing 51,000 ounces at total

cash costs of $147 per ounce. Production from the Cortez JV exceeded

expectations on higher grades and recoveries, while total cash costs were

under plan at $369 per ounce.

At Cortez Hills, $23 million (100% basis) was spent in Q3 on procurement of

open pit mining equipment, engineering for project infrastructure, and

additional development of the twin declines, which have progressed to 4,420

meters and are ahead of plan. Detailed engineering is more than 90% complete

and delivery of mining equipment is on schedule. The Record of Decision

Release is targeted for the second half of 2008 and construction is expected

to be complete within 15 months of the Record of Decision.

Earnings of $345 million cash flow of $557 million and EBITDA of $710 million compare to prior year earnings of $405 million cash flow of $748 million and EBITDA of $703 million.

“Our operations are delivering all of their production into the spot market

just as gold prices have broken 27-year highs,” said Greg Wilkins, President

and CEO. “Despite anticipated higher costs this quarter, Barrick continues

to deliver excellent leverage to the strong gold price.”

The company’s address is 161 Bay Street, Suite 3700, P.O. Box 212, Toronto, ON M5J 2S1, (416) 861-9911, fax: (416) 861-2492.