FOR:  BARRICK GOLD CORPORATION

NYSE, TSX SYMBOL:  ABX
LSE SYMBOL:  BGD

November 7, 2006

Barrick Announces Full Redemption of 8.5% Series B Preferred Securities

TORONTO, ONTARIO--(CCNMatthews - Nov. 7, 2006) - Barrick Gold Corporation (NYSE:ABX)(TSX:ABX)(LSE:BGD)
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All figures in US dollars

Barrick Gold Corporation today announced that it will redeem on December 18, 2006 all of the
outstanding Placer Dome Inc. 8.5% Series B Preferred Securities "Series B COPrS" due December 31, 2045
for cash at a redemption price of US$1,039.43 per US$1,000 aggregate principal amount. This redemption
price is comprised of the outstanding principal amount plus accrued and unpaid interest to December
17, 2006. Barrick intends to use approximately US$80 million to fund the redemption.

"In combination with the recent issuance of the copper-linked notes, this redemption is consistent
with the Company's strategy of retiring higher-cost financing and strengthening the Company's balance
sheet," said Jamie Sokalsky, Executive Vice President and CFO.

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 included 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." The words "expect", "will",
"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 or certain other commodities (such as copper, silver, fuel and electricity) and currencies;
changes in U.S. dollar interest rates or gold lease rates; risks arising from holding derivative
instruments; ability to successfully 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; the speculative
nature of gold exploration and development, including the risks of diminishing quantities or grades of
reserves, adverse changes in our credit rating, contests over title to properties, particularly title
to undeveloped properties; and the risks involved in the exploration, development and mining business.
These factors are discussed in greater detail in the Company's most recent Form 40-F/Annual
Information Form on file with the US 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.


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FOR FURTHER INFORMATION PLEASE CONTACT:

Barrick Gold Corporation
Vincent Borg
Senior Vice President, Corporate Communications
(416) 307-7477
(416) 861-1509 (FAX)
Email: vborg@barrick.com

                                                                
Barrick Gold Corporation
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