Pueblo Viejo (Project)

Pueblo Viejo is located in the Dominican Republic, approximately 100 kilometres northwest of the capital city of Santo Domingo. Barrick holds a 60% interest and Goldcorp owns the remaining 40% interest.

Our equity share of proven and probable gold reserves at Pueblo Viejo increased 1.2 million ounces to 13.4 million ounces as of December 31, 2008. The mine life is expected to be over 25 years and Barrick’s share of annual production is expected to be about 600,000 - 650,000 ounces of gold at total cash costs of $275 - $300 per ounce during the first full five years of production with initial production anticipated in Q4 2011. Pueblo Viejo is advancing on schedule and within its pre-production capital capital budget $2.7 billion (100% basis). Post start-up, an additional $0.3 billion (100% basis) is expected to complete the phased expansion to 24,000 tonnes per day.