Barrick Acquires Over 94% of Cadence

TORONTO, ONTARIO, Sep 05 (MARKET WIRE) --
All amounts expressed in Cdn. dollars unless otherwise indicated

Barrick Gold Corporation (NYSE: ABX)(TSX: ABX) announced that
approximately 56.1 million common shares of Cadence Energy Inc.
("Cadence") have been taken up pursuant to Barrick's offer to acquire all
of the outstanding shares of Cadence (the "Offer") for $6.75 cash per
share. These shares represent over 94% of the issued and outstanding
common shares of Cadence. The Offer has now expired.

Barrick intends to enter into one or more transactions to enable Barrick
to acquire the Cadence common shares not tendered to the Offer.

The acquisition of Cadence is a key component of Barrick's long term
strategy to economically hedge oil exposure at lower rates than those
available in the forward market.

Barrick has hired David Boone as President of its oil and gas operations.
Mr. Boone has more than 30 years of oil and gas industry operating
experience. Prior to joining Barrick, he held the position of Chief
Operating Officer and Executive Vice President at PanCanadian Petroleum
and President of International and Offshore Operations at Encana
Corporation. Most recently, Mr. Boone was President of Escavar Energy
which he co-founded in 2003.

Barrick's vision is to be the world's best gold company by finding,
acquiring, developing and producing quality reserves in a safe,
profitable and socially responsible manner.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

Certain information contained in this Press Release, including any
information as to our future financial or operating performance and other
statements that express management's expectations or estimates of future
performance, constitute "forward-looking statements". All statements,
other than statements of historical fact, are forward-looking statements.
The words "believe", "expect", "will", "anticipate", "contemplate",
"target", "plan", "continue', "budget", "may", "intend", "estimate" and
similar expressions identify forward-looking statements. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by management, are
inherently subject to significant business, economic and competitive
uncertainties and contingencies. The Company cautions the reader that
such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual financial
results, performance or achievements of Barrick to be materially
different from the Company's estimated future results, performance or
achievements expressed or implied by those forward-looking statements and
the forward-looking statements are not guarantees of future performance.
These risks, uncertainties and other factors include, but are not limited
to: changes in the worldwide price of gold, copper or certain other
commodities (such as silver, fuel and electricity); fluctuations in
currency markets; changes in U.S. dollar interest rates or gold lease
rates; risks arising from holding derivative instruments; ability to
successfully complete announced transactions and integrate acquired
assets; legislative, political or economic developments in the
jurisdictions in which the Company carries on business; operating or
technical difficulties in connection with mining or development
activities; employee relations; availability and increasing costs
associated with mining inputs and labor; the speculative nature of
exploration and development, including the risks of obtaining necessary
licenses and permits and diminishing quantities or grades of reserves;
adverse changes in our credit rating, contests over title to properties,
particularly title to undeveloped properties; the risks involved in the
exploration, development and mining business; future well production
rates; reserve and resource volumes; reserve life index; the performance
of existing wells; and the success obtained in drilling new wells. These
factors are discussed in greater detail in the Company's most recent Form
40-F/Annual Information Form on file with the U.S. Securities and
Exchange Commission and Canadian provincial securities regulatory
authorities.

The Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future
events or otherwise, except as required by applicable law.

Contacts:
INVESTOR CONTACT: Deni Nicoski
Vice President, Investor Relations
(416) 307-7410
Email: dnicoski@barrick.com

MEDIA CONTACT: Vincent Borg
Senior Vice President, Corporate Communications
(416) 307-7477
Email: vborg@barrick.com

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