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Barrick Gold Corp (BGD)

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Wednesday 09 February, 2000

Barrick Gold Corp

Hedging Levels

Barrick Gold Corporation
9 February 2000

Investor Contact:                       
Belle Mulligan
Senior Vice President,
Investor Relations
Tel: (416)307-7442
Fax: (416) 861-0727

Richard Young
Investor Relations
Tel: (416) 307-7431
Fax: (416) 861-0727

Media Contact:
Vincent Borg
Vice President,
Corporate Communication
Tel: (416) 307-7477
Fax: (416) 861-1509

Internet: hrrp://

Barrick Gold Corporation
Royal Bank Plaza
South Tower, Suite 2700
Toronto, Canada
M5J 2J3


Toronto, February 8, 2000  --  Barrick Gold Corporation announced today that it
would not increase its hedging from the level outlined in its annual outlook
presentation yesterday.  The Company's President and Chief Executive Officer,
Randall Oliphant, made this commitment at the start of its investor road-show
that kicked off today in Montreal. 

The effective size of the Company's hedge position was reduced by one-half
during the last quarter of 1999 from 18.8 million ounces to 9.8 million ounces.
Barrick purchased 6.8 million call options that provide significantly greater
participation in gold price rallies.  As soon as the gold price reaches US$319
in 2000, every dollar above that level will now be added to Barrick's floor
price of US$360 per ounce of production.  For example, at US$400 spot gold,
Barrick would realize US$441 on its gold production (i.e. US$360 plus US$81 -
the difference between US$400 spot and Barrick's call price of US$319.)

'The substantial reduction we made to our hedge book enhances our leverage to
rising gold prices and reflects our positive outlook for gold.  We are going
forward with the reduced level of hedging and plan to fully participate in
rising gold prices.  We do not plan to increase out spot-deferred position based
on today's gold market,' said Randall Oliphant, President and Chief Executive

The significant 9-million-ounce reduction in the committed forward-sale position
reflects Barrick's confidence in the gold price.  It is approximately two-thirds
of the entire amount of gold supply from producer hedging in the world last
year, or two-thirds of all the gold to be sold by the Bank of England. 

Barrick Gold Corporation's shares are traded under the ticker symbol ABX on the
Toronto, New York, London, the Swiss Stock Exchanges and the Paris Bourse. 

Certain statements set forth above regarding the Company's Forward Gold Sales
Program constitutes 'forward looking statements' within the meaning of the
United States Private Securities Litigation reform Act of 1995.  Such statements
involve risks, uncertainties and other factors that may cause the actual
results, performance or achievements to differ from those expressed or implied
by such forward looking statements.  Such risks and uncertainties are described
in periodic filings made by Barrick with the U.S. Securities and Exchange
Commission and Canadian provincial securities regulatory authorities. 


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