FOR:  BARRICK GOLD CORPORATION
 
TSX, NYSE, LSE, Swiss, PARIS SYMBOL:  ABX
 
October 14, 2003
 
Barrick Acquires Stake in Highland Gold
 
TORONTO, ONTARIO--
 
The following Press Release was issued by Highland Gold Ltd.
 
13 October 2003
 
31.7% of Highland Gold's shares placed with international investors
 
Proposed share issue to Barrick raising Pounds Sterling 70 million for the Company
 
Appointment of Finance Director
 
Highland Gold, the London quoted Russian gold producer, today welcomed the successful placing of 31.7% of its equity
(the "Placing"), a stake formerly held by Harmony Gold Mining Company Limited ("Harmony") of South Africa, with Barrick
Gold Corporation ("Barrick") of Canada and with an international group of institutional investors.
 
Barrick, one of the world's largest gold producers, has acquired 10% of Highland Gold's equity in the Placing and
Highland Gold has also conditionally agreed to issue a further 29,577,332 shares at the placing price of 235p per share
which, together with the placing shares, would give Barrick a 29% stake in the Company's enlarged share capital. This
share issue has been approved by the Board of Highland Gold and is subject to due diligence. It is expected that this
will be completed within two months. After the transaction, the two groups have agreed to cooperate in the gold sector
in the Russian Federation. Barrick will have the right to nominate two directors to the Board of Highland Gold and to
second certain personnel to the Company.
 
Highland Gold intends to use part of the proceeds from the share issue of approximately Pounds Sterling 70 million
(US$116 million) to refinance existing bank debt and to finance the capital requirements of the Company's development
projects. Surplus funds will strengthen Highland Gold's balance sheet and the Company will continue to search for
acquisitions and investments that will enhance shareholder value.
 
Highland Gold also reports the appointment to the Board of Denis Alexandrov as Finance Director. Mr. Alexandrov, who
qualified as a chartered accountant and spent five years with PricewaterhouseCoopers' Natural Resources Group before
joining a UK subsidiary of Alfa Group, joined Highland Gold earlier this year.
 
Peter Daresbury, Executive Chairman, Highland Gold, said:
 
"We would like to thank the Board of Harmony for their energy and expertise during the creation and development of
Highland Gold and we are grateful in particular to Ted Grobicki, Peter McKenna and Mike Pleming for their service to
the Company as non-executive directors on our Board throughout Highland Gold's development to date; Mike Pleming will
remain on the Board."
 
"The successful placing of a substantial stake in Highland Gold with Barrick and other international investors reflects
the progress the company has made since flotation ten months ago. It is also a clear indication of global investors'
growing confidence in the investment environment in Russia. We welcome all of our new shareholders and look forward to
their participation in the considerable development potential of the Group.
 
The agreement with Barrick marks a new phase in the progress of Highland Gold and we are excited about the prospects of
developing a relationship with them in Russia. We believe that Barrick's knowledge and experience will be of
considerable benefit to the Group in fulfilling its potential in Russia and we welcome them as a shareholder.
 
Finally we welcome Denis Alexandrov to the Board as Finance Director and look forward to his contribution towards the
Group's success."
 
Gregory C. Wilkins, President and CEO of Barrick, commented:
 
"Highland Gold is an attractive and growing mid-tier producer and this transaction represents a strategic investment
opportunity for Barrick Gold Corporation. It provides us with a window into one of the world's most prospective gold
mining areas. We are making this investment due to the markedly improved investment climate in Russia, and an abundance
of quality gold targets in this region."
 
Enquiries:
 
Highland Gold
Peter Daresbury                                       0207 409 5600
 
Brunswick                                             0207 404 5959
John Sunnucks                                          07974 982356
Alison Howard                                          07974 982515
 
Barrick is a leading international gold producer with the industry's only A-rated balance sheet, a portfolio of
long-life, low-cost operations on four continents and proven and probable reserves of 86.9 million ounces of gold.
Barrick's shares are traded under the ticker symbol ABX on the Toronto, New York, London and Swiss Stock Exchanges and
the Paris Bourse.
 
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FOR FURTHER INFORMATION PLEASE CONTACT:
 
Barrick Gold Corporation
Vincent Borg
Vice President, Corporate Communications
(416) 307-7477
(416) 861-1509 (FAX)
media@barrick.com