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<SEC-DOCUMENT>0000909567-05-001774.txt : 20051110
<SEC-HEADER>0000909567-05-001774.hdr.sgml : 20051110
<ACCEPTANCE-DATETIME>20051110170412
ACCESSION NUMBER:		0000909567-05-001774
CONFORMED SUBMISSION TYPE:	F-10
PUBLIC DOCUMENT COUNT:		13
FILED AS OF DATE:		20051110
DATE AS OF CHANGE:		20051110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BARRICK GOLD CORP
		CENTRAL INDEX KEY:			0000756894
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		F-10
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-129643
		FILM NUMBER:		051194784

	BUSINESS ADDRESS:	
		STREET 1:		BCE PLACE, CANADA TRUST TOWER
		STREET 2:		161 BAY STREET SUITE 3700
		CITY:			TORONTO ONTARIO CANA
		STATE:			A6
		ZIP:			M5J2S1
		BUSINESS PHONE:		4163077470

	MAIL ADDRESS:	
		STREET 1:		BCE PLACE, CANADA TRUST TOWER
		STREET 2:		P O BOX 212 TORONTO
		CITY:			ONTARIO M5J2S1
		STATE:			A6
		ZIP:			M5J2S1

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BARRICK RESOURCES CORP
		DATE OF NAME CHANGE:	19860109
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-10
<SEQUENCE>1
<FILENAME>t18587ffv10.htm
<DESCRIPTION>FORM F-10
<TEXT>
<HTML>
<HEAD>
<TITLE>fv10</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 14pt; margin-top: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B>
</DIV>

<DIV align="center" style="font-size: 12pt"><B>Washington, D.C. 20549</B>
</DIV>

<DIV align="center" style="font-size: 18pt; margin-top: 12pt"><B>Form&nbsp;F-10</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>REGISTRATION STATEMENT UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></DIV>

<DIV align="center" style="font-size: 24pt; margin-top: 12pt"><B>BARRICK GOLD CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
(<I>Exact name of Registrant as specified in its charter</I>)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Ontario, Canada</B></DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt">(<I>Province or other jurisdiction of incorporation or organization</I>)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>1041</B></DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt">(<I>Primary Standard Industrial Classification Code Number (if applicable)</I>)</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>Not Applicable</B></DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt"><I>(I.R.S. Employer Identification Number (if applicable))</I></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>BCE Place<BR>
161 Bay Street, Suite&nbsp;3700<BR>
P.O. Box 212<BR>
Toronto, Canada M5J 2S1<BR>
(800)&nbsp;720-7415</B></DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt"><I>(Address and telephone number of Registrant&#146;s principal executive offices)</I></DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">Approximate date of commencement of proposed sale of the securities to the public: <B>as soon as
practicable after this Registration Statement becomes effective.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt"><B>CT Corporation System<BR>
11 Eighth Avenue<BR>
New York, New York 10011<BR>
Telephone: (212)&nbsp;894-8700</B></DIV>

<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt"><I>(Name, address (including zip code) and telephone number (including area code)
of agent for service in the United States)</I></DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">It is proposed that this filing shall become effective (check appropriate box)
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">A.&nbsp;&nbsp;&nbsp;</TD>
    <TD width="1%"><FONT face="Wingdings">&#254;</FONT>&nbsp;&nbsp;&nbsp;</TD>
    <TD>upon filing with the Commission, pursuant to Rule 467(a) (if in connection with an
offering being made contemporaneously in the United States and Canada).</TD>
</TR>

</TABLE>
</DIV>
<P align="center" style="font-size: 10pt">&nbsp;
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV style="margin-top: 6pt"><TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="4%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">B.&nbsp;&nbsp;&nbsp;</TD>
    <TD width="1%"><FONT face="Wingdings">&#111;</FONT>&nbsp;&nbsp;&nbsp;</TD>
    <TD>at some future date (check the appropriate box below)</TD>
</TR>

</TABLE>
</DIV>


<DIV style="margin-top: 6pt">
<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt">

<TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">1.</TD>
    <TD width="1%"><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>pursuant to Rule 467(b) on (&#95;&#95;&#95;) at (&#95;&#95;&#95;) (designate a time not
sooner than 7 calendar days after filing).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">2.</TD>
    <TD width="1%"><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>pursuant to Rule 467(b) on (&#95;&#95;&#95;) at (&#95;&#95;&#95;) (designate a time 7
calendar days or sooner after filing) because the securities regulatory authority
in the review jurisdiction has issued a receipt or notification of clearance on
(&#95;&#95;&#95;).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">3.</TD>
    <TD width="1%"><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>pursuant to Rule 467(b) as soon as practicable after
notification of the Commission by the Registrant or the Canadian securities
regulatory authority of the review jurisdiction that a receipt or notification of
clearance has been issued with respect hereto.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR><TR valign="top" style="font-size: 10pt; color: #000000; background: transparent">
    <TD width="8%" style="background: transparent">&nbsp;</TD>
    <TD width="3%" nowrap align="left">4.</TD>
    <TD width="1%"><FONT face="Wingdings">&#111;</FONT>&nbsp;</TD>
    <TD>after the filing of the next amendment to this Form (if preliminary material
is being filed).</TD>
</TR>

</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">If any of the securities being registered on this Form are to be offered on a delayed or continuous
basis pursuant to the home jurisdiction&#146;s shelf prospectus offering procedures, check the following
box&nbsp;<FONT face="Wingdings">&#111;</FONT>.
</DIV>

<P>

<DIV align="center" style="font-size: 10pt"><DIV style="border-bottom: 1px solid #000000; font-size: 1px">&nbsp;</DIV></DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>CALCULATION OF REGISTRATION FEE</B>*
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD><!-- VRule -->
    <TD width="2%">&nbsp;</TD>
    <TD width="7%">&nbsp;</TD>

    <TD width="1%">&nbsp;</TD>
</TR><TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="17" style="border-bottom: 3px solid #000000">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left"><B>Title of each class</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Proposed maximum</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD width="1%">&nbsp;</TD>
    <TD nowrap align="left"><B>of securities to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>Amount to be</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>offering price per</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>aggregate offering</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>Amount of</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">    <TD width="1%">&nbsp;</TD>

    <TD nowrap align="left"><B>registered</B></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" colspan="3"><B>registered</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(1)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>unit </B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>price</B><SUP style="font-size: 85%; vertical-align: text-top"><B>(2)</B></SUP></TD>
    <TD style="border-right: 2px solid #000000">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center"><B>registration fees</B></TD>
    <TD width="1%">&nbsp;</TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
                    <TD valign="top" style="border-top: 2px solid #000000"><DIV style="margin-left:0px; text-indent:-0px">Common Shares
</DIV></TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD nowrap align="right" valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">303,021,050</TD>
    <TD nowrap valign="top" style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">US$19.615</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">US$7,834,361,306.65</TD>
    <TD style="border-right: 2px solid #000000; border-top: 2px solid #000000">&nbsp;</TD>
    <TD style="border-top: 2px solid #000000">&nbsp;</TD>
    <TD align="center" valign="top" style="border-top: 2px solid #000000">US$922,104.33</TD>
    <TD width="1%" style="border-top: 2px solid #000000">&nbsp;</TD>
</TR>

<TR style="font-size: 1px" valign="bottom">
    <TD nowrap align="left" colspan="17" style="border-top: 3px solid #000000">&nbsp;</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(1)&nbsp;Represents the maximum number of shares of Common Shares of the Registrant estimated to be
issuable upon consummation of the exchange offer based on 461,781,546, which is the number of
Shares of Placer Dome Inc. (&#147;Placer Dome&#148;) outstanding on a fully diluted basis as of October&nbsp;21,
2005, as publicly disclosed by Placer Dome. Pursuant to General Instruction II.G, the number of
shares to be registered need not exceed the amount to be offered in the United States as part of
the offering.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">(2)&nbsp;The amount of the Fee has been calculated based on the market value of the outstanding common
shares of Placer Dome as of November&nbsp;8, 2005 of Cdn.$10,766,436,744.99 (US$9,058,082,403.65). Such
value is calculated based upon (a)&nbsp;461,781,546, which is the number of outstanding common shares of
Placer Dome on a fully diluted basis on October&nbsp;21, 2005, as publicly disclosed by Placer Dome, and
(b)&nbsp;Cdn.$23.315 (US$19.615), which is the market value per common share of the Placer Dome common
shares (based upon the average of the high and low prices reported for such common shares on the
Toronto Stock Exchange as of November&nbsp;8, 2005). For purposes of this calculation, the noon rate of
exchange as reported by the Bank of Canada for one U.S. dollars
expressed in Canadian dollars on
November&nbsp;8, 2005 is 1.1886.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If, as a result of stock splits, stock dividends or similar transactions, the number of
securities purported to be registered on this registration statement changes, the provisions of
Rule&nbsp;416 shall apply to this registration statement.
</DIV>

<P align="center" style="font-size: 10pt">2
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART I</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INFORMATION REQUIRED TO BE DELIVERED TO OFFEREES OR PURCHASERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1. Home Jurisdiction Document</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This registration statement on Form F-10 (the &#147;Registration Statement&#148;) is filed by Barrick
Gold Corporation, an Ontario corporation (&#147;Barrick&#148; or the &#147;Registrant&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Registration Statement relates to the offer by Barrick to purchase (i)&nbsp;all issued and
outstanding common shares (including those that are subject to CHESS Depositary Interests and
International Depositary Receipts) of Placer Dome Inc. (&#147;Placer Dome&#148;), which includes common
shares that may become outstanding after the date of the offer but before the expiry time of the
offer upon conversion, exchange or exercise of options or convertible debentures or other
securities of Placer Dome that are convertible into or exchangeable for common shares and (ii)&nbsp;the
associated rights issued under the Shareholders Rights Plan of Placer Dome (collectively, the
&#147;Shares&#148;), at a price of, on the basis of and at the election of the shareholder of Placer Dome:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;US$20.50, in cash for each Share; or
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;0.7518 of a Barrick common share and US$0.05 in cash for each Share
</DIV>
<DIV align="left" style="font-size: 10pt; margin-top: 6pt">in each case subject to proration.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The information set forth in the Offer and Circular dated November&nbsp;10, 2005 (the &#147;Offer and
Circular&#148;) and in the Letter of Transmittal, including all schedules, exhibits and annexes thereto,
is hereby expressly incorporated by reference in response to all items of information required to
be included in, or covered by, this Registration Statement and is supplemented by the information
specifically provided herein.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;3. Informational Legends</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following legends appear in the Offer and Circular:
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>NOTICE TO SHAREHOLDERS IN THE UNITED STATES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The Offer is made for the securities of a Canadian issuer and by a Canadian issuer that is
permitted, under a multijurisdictional disclosure system adopted by the United States, to prepare
this Offer and Circular in accordance with the disclosure requirements of Canada. Shareholders
should be aware that such requirements are different from those of the United States.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>Shareholders in the United States should be aware that the disposition of Shares and the
acquisition of Barrick Common Shares by them as described herein may have tax consequences both in
the United States and in Canada. Such consequences may not be fully described herein and such
Shareholders are encouraged to consult their tax advisors. See ''Canadian Federal Income Tax
Considerations&#146;&#146; in Section&nbsp;22 of the Circular and ''U.S. Federal Income Tax Considerations&#146;&#146; in
Section&nbsp;23 of the Circular.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>The enforcement by Shareholders of civil liabilities under the United States federal
securities laws may be affected adversely by the fact that Barrick is incorporated under the
laws of the Province of Ontario, Canada, that some or all of its officers and directors may be
residents of a foreign country, that some or all of the experts named herein may be residents of a
foreign country and that all or a substantial portion of the assets of Barrick and said persons
may be located outside the United States.</B>
</DIV>

<P align="center" style="font-size: 10pt">3
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B>THE SECURITIES OFFERED PURSUANT TO THE OFFER AND CIRCULAR HAVE NOT BEEN APPROVED OR
DISAPPROVED BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION NOR HAS THE COMMISSION PASSED
UPON THE ACCURACY OR ADEQUACY OF THIS OFFER AND CIRCULAR. ANY REPRESENTATION TO THE CONTRARY IS A
CRIMINAL OFFENCE.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;4. Incorporation of Certain Information by Reference</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See
&#147;Documents Incorporated by Reference&#148; in Section&nbsp;11 of the Circular in the Offer and Circular.
</DIV>

<P align="center" style="font-size: 10pt">4
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART II</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>INFORMATION NOT REQUIRED TO BE SENT TO SHAREHOLDERS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Indemnification</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Under the <I>Business Corporations Act </I>(Ontario), Barrick may indemnify a present or former
director or officer or a person who acts or acted at Barrick&#146;s request as a director or officer of
another corporation of which Barrick is or was a shareholder or creditor, and his or her heirs and
legal representatives, against all costs, charges and expenses, including an amount paid to settle
an action or satisfy a judgment, reasonably incurred by him or her in respect of any civil,
criminal or administrative action or proceeding to which he or she is made a party by reason of his
or her being or having been a director or officer of Barrick or such
other corporation on condition that (i)&nbsp;the
director or officer acted honestly and in good faith with a view to the best interests of Barrick
and (ii)&nbsp;in the case of a criminal or administrative action or proceeding that is enforced by a
monetary penalty, had reasonable grounds for believing that his or her conduct was lawful.
Further, Barrick may, with court approval, indemnify a person described above in respect of an
action by or on behalf of Barrick to procure a judgment in its favour, to which the person is
made a party by reason of being or having been a director or an officer of Barrick, against all
costs, charges and expenses reasonably incurred by the parson in connection with such action if
he or she fulfils conditions (i) and (ii) above. A director is entitled to indemnification from Barrick as a
matter of right if he or she was substantially successful on the merits of his or her defence and
fulfils the conditions (i) and (ii) above.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In accordance with provisions of the <I>Business Corporations Act </I>(Ontario) described above, the
by-laws of Barrick provide that Barrick shall indemnify a director or officer, a former
director or officer, or a person who acts or acted at Barrick&#146;s request as a director or officer of
a corporation of which Barrick is or was a shareholder or creditor, and his or her heirs and legal
representatives, against all costs, charges and expenses, including an amount paid to settle an
action or satisfy a judgment, reasonably incurred by him or her in respect of any civil, criminal
or administrative action or proceeding to which he or she is made a party by reason of being or
having been a director or officer of Barrick or such other corporation if he or she acted honestly
and in good faith with a view to the best interests of Barrick and, in the case of a criminal or
administrative action or proceeding that is enforced by monetary penalty, he or she had reasonable
grounds for believing that his or her conduct was lawful.
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers or persons controlling the Registrant pursuant to the foregoing
provisions, the Registrant has been informed that in the opinion of the U.S. Securities and
Exchange Commission such indemnification is against public policy as expressed in the Act and is
therefore unenforceable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Exhibits</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following documents are filed as exhibits to this Registration Statement:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>1.1</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Offer and Circular, dated November&nbsp;10, 2005 (filed herewith)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>1.2</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter of Transmittal (filed herewith)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>1.3</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of Guaranteed Delivery (filed herewith)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>2.1</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Annual Information Form of Barrick, dated March&nbsp;30, 2005, for
the year ended December&nbsp;31, 2004 (incorporated by reference to
Barrick&#146;s Form&nbsp;40-F filed with the Commission on March&nbsp;31, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>2.2</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Management Information Circular of Barrick dated March&nbsp;14, 2005
prepared in connection with the</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">5
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">annual meeting of shareholders of
Barrick held on April&nbsp;28, 2005 (incorporated by reference to
Exhibit&nbsp;2 to Barrick&#146;s Form&nbsp;6-K furnished to the
Commission by Barrick on March&nbsp;25, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>2.3</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Comparative audited consolidated financial statements of
Barrick and the notes thereto as at December&nbsp;31, 2004 and 2003
and for each of the years in the three-year period ended
December&nbsp;31, 2004, together with the report of the auditors
thereon (incorporated by reference to Exhibit&nbsp;2 to Barrick&#146;s
Form&nbsp;F-40 filed with the Commission on March&nbsp;31, 2005 and
management&#146;s discussion and analysis of financial results found
at pages 25 through 73 of Barrick&#146;s 2004 Annual Report,
incorporated by reference to Exhibit&nbsp;2 to Barrick&#146;s Form&nbsp;40-F
filed with the Commission on March&nbsp;31, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>2.4</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Comparative unaudited consolidated financial statements of
Barrick and the notes thereto as at September&nbsp;30, 2005 and for
the nine months ended September&nbsp;30, 2005 and 2004, together
with management&#146;s discussion and analysis of financial results
(incorporated by reference to Exhibit&nbsp;2 to Barrick&#146;s Form&nbsp;6-K
furnished to the Commission on October&nbsp;31, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>3.1</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Material change report dated January&nbsp;28, 2005 relating to the
decision by the Peruvian tax authority, SUNAT, not to appeal
the Tax Court&#146;s decision in favour of Barrick regarding SUNAT&#146;s
tax assessment of the Pierina Mine for the 1999 and 2000 fiscal
years (incorporated by reference to Exhibit&nbsp;1 to Barrick&#146;s
Form&nbsp;6-K furnished to the Commission on January&nbsp;31, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>3.2</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Material change report dated
November&nbsp;9, 2005 relating to the
Barrick&#146;s intention to make the Offer, incorporated by reference
to Exhibit&nbsp;1 to Barrick&#146; Form&nbsp;6-K furnished to the
Commission by Barrick on November&nbsp;10, 2005</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>3.3</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Material document November&nbsp;9, 2005, relating to
Barrick&#146; intention to make the Offer (incorporated by reference
to Exhibit&nbsp;2 to Barrick&#146;s Form&nbsp;6-K furnished to the
Commission by Barrick on November&nbsp;10, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="left" valign="top"><B>7.1</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Davies Ward Phillips &#038; Vineberg LLP regarding
Canadian Federal Income Tax (filed
herewith)</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top"><B>7.2</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Davies Ward Phillips &#038; Vineberg LLP regarding United
States Federal Income Tax (filed
herewith)</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top"><B>7.3</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Greenwoods &#038; Freehills PTY Limited regarding Australian
Federal Income Tax (filed herewith)</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top"><B>7.4</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent
of PricewaterhouseCoopers LLP (filed herewith)</DIV></TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">6
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>PART III</B>
</DIV>


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>UNDERTAKINGS AND CONSENT TO SERVICE OF PROCESS</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;1. Undertaking</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Registrant undertakes to make available, in person or by telephone, representatives to
respond to inquiries made by the Commission staff, and to furnish promptly, when requested to do so
by the Commission staff, information relating to the securities registered pursuant to Form F-10 or
to transactions in said securities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt"><B>Item&nbsp;2. Consent to Service of Process</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;Currently with the filing of this Registration Statement, the Registrant is filing with the
Commission a written irrevocable consent and power of attorney on Form F-X.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;Any change to the name or address of the Registrant&#146;s agent for service shall be communicated
promptly to the Commission by amendment to Form F-X referencing the file number of the relevant
registration statement.
</DIV>

<P align="center" style="font-size: 10pt">7
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>SIGNATURES</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, Barrick Gold Corporation, the
Registrant certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form F-10 and has duly caused this Registration Statement to be signed
on its behalf by the undersigned, thereunder duly authorized, in the City of Toronto, Province of
Ontario, Country of Canada, on this 10th day of November, 2005.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>BARRICK GOLD CORPORATION</B><BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/     Sybil E. Veenman
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Sybil E. Veenman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President, Assistant General<BR>
Counsel and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">8
</DIV>

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<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>POWERS OF ATTORNEY</B>
</DIV>



<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each person whose signature appears below constitutes and appoints each of Sybil E. Veenman
and Gregory C. Wilkins as his or her true and lawful attorney-in-fact and agent, each acting alone,
with full power of substitution and resubstitution, for him or her and in his or her name, place
and stead, in any and all capacities, to sign any or all amendments (including post-effective
amendments) to this Registration Statement, and to file the same, with all exhibits thereto, and
other documents in connection therewith, with the Securities and Exchange Commission, granting unto
said attorneys-in-fact and agents, each acting alone, full power and authority to do and perform
each and every act and thing requisite and necessary to be done in and about the premises, as fully
to all intents and purposes as he or she might or could do in person, hereby ratifying and
confirming all that said attorneys-in-fact and agents, each acting alone, or his or her substitute
or substitutes, may lawfully do or cause to be done by virtue hereof.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration
Statement has been signed by the following persons, in the capacities and on the dates indicated:
</DIV>
<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="34%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title with Registrant</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Peter Munk
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Peter Munk</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Chairman and Director</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>

<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Gregory C. Wilkins
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Gregory C. Wilkins</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
President, Chief Executive Officer and Director
(Principal Executive Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Jamie C. Sokalsky
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Jamie C. Sokalsky</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Executive Vice President and Chief Financial Officer
(Principal Financial Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Richard Ball
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Richard Ball</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Vice President, Financial Reporting and Risk Analysis
(Principal Accounting Officer)
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/  C. William D. Birchall
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
C. William D. Birchall</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Vice Chairman and Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Howard L. Beck
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Howard L. Beck</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/  Gustavo Cisneros
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Gustavo Cisneros</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Marshall A. Cohen
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Marshall A. Cohen</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">9
</DIV>

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="34%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="33%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Signature</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Title with Registrant</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Date</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Peter A. Crossgrove
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Peter A. Crossgrove</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Peter C. Godsoe, O.C.
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Peter C. Godsoe, O.C.</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Angus A. MacNaughton
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Angus A. MacNaughton</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ The Right Honourable Brian Mulroney
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
The Right Honourable Brian Mulroney</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Anthony Munk
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Anthony Munk</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Joseph L. Rotman
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Joseph L. Rotman</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<TR valign="bottom" style="padding-top: 1em">
    <TD align="center" valign="top">/s/ Steven J. Shapiro
<DIV style="font-size: 1pt; border-bottom: 1px solid #000000">&nbsp;</DIV>
Steven J. Shapiro</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
Director
</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">November 10, 2005</TD>
</TR>
<!-- End Table Body -->
</TABLE>
</DIV>


<P align="center" style="font-size: 10pt">10
</DIV>

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>AUTHORIZED REPRESENTATIVE</B>
</DIV>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of Section 6(a) of the Securities Act of 1933, as amended, the
undersigned, solely in the capacity of the duly authorized representative of Barrick Gold
Corporation in the United States, has signed this Registration Statement in the City of Toronto,
Province of Ontario, Canada on this 10th day of November, 2005.
</DIV>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>CT CORPORATION SYSTEM</B><BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Michael Mitchell
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Department Manager&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>
<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>
</TABLE>

<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>
<TR>
    <TD valign="top" align="left">&nbsp;</TD>
    <TD colspan="3" align="left"><B>BARRICK GOLD CORPORATION</B><BR>
(Registrant)<BR>
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD valign="top">By:&nbsp;&nbsp;</TD>
    <TD colspan="2" style="border-bottom: 1px solid #000000" align="left">/s/ Sybil E. Veenman
&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Sybil E. Veenman&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR><TR>
    <TD align="left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left">Vice President, Assistant General<BR>
Counsel and Secretary&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt">11
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="font-family: 'Times New Roman',Times,serif">


<TABLE width="100%" border="0" cellspacing="0" cellpadding="0" style="font-size: 10pt">
<TR>
    <TD width="48%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="35%">&nbsp;</TD>
    <TD width="15%">&nbsp;</TD>
</TR>

</TABLE>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>EXHIBIT INDEX</B>
</DIV>

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="87%">&nbsp;</TD>
</TR>
<TR style="font-size: 8pt" valign="bottom">
    <TD nowrap align="left" style="border-bottom: 1px solid #000000"><B>Exhibit</B></TD>
    <TD>&nbsp;</TD>
    <TD nowrap align="center" style="border-bottom: 1px solid #000000"><B>Description</B></TD>
</TR>

<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>1.1</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Offer and Circular, dated November&nbsp;10, 2005 (filed herewith)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>1.2</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Letter of Transmittal (filed herewith)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>1.3</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Notice of Guaranteed Delivery (filed herewith)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>2.1</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Annual Information Form of Barrick, dated March&nbsp;30, 2005, for
the year ended December&nbsp;31, 2004 (incorporated by reference to
Barrick&#146;s Form&nbsp;40-F filed with the Commission on
March&nbsp;31, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>2.2</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Management Information Circular of Barrick dated March&nbsp;14, 2005
prepared in connection with the annual meeting of shareholders
of Barrick held on April&nbsp;28, 2005 (incorporated by reference to
Exhibit&nbsp;2 to Barrick&#146;s Form&nbsp;6-K furnished to the Commission on March&nbsp;25,
2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>2.3</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Comparative audited consolidated financial statements of
Barrick and the notes thereto as at December&nbsp;31, 2004 and 2003
and for each of the years in the three-year period ended
December&nbsp;31, 2004, together with the report of the auditors
thereon (incorporated by reference to Exhibit&nbsp;2 to Barrick&#146;s
Form&nbsp;F-40 filed with the Commission on March&nbsp;31, 2005) and
management&#146;s discussion and analysis of financial results found
at pages 25 through 73 of Barrick&#146;s 2004 Annual Report
(incorporated by reference to Exhibit&nbsp;2 to Barrick&#146;s Form&nbsp;40-F
furnished to the Commission on March&nbsp;31, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>2.4</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Comparative unaudited consolidated financial statements of
Barrick and the notes thereto as at September&nbsp;30, 2005 and for
the nine months ended September&nbsp;30, 2005 and 2004, together
with management&#146;s discussion and analysis of financial results,
(incorporated by reference to Exhibit&nbsp;2 to Barrick&#146;s Form&nbsp;6-K
furnished to the Commission on October&nbsp;31, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>3.1</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Material change report dated January&nbsp;28, 2005 relating to the
decision by the Peruvian tax authority, SUNAT, not to appeal
the Tax Court&#146;s decision in favour of Barrick regarding SUNAT&#146;s
tax assessment of the Pierina Mine for the 1999 and 2000 fiscal
years (incorporated by reference to Exhibit&nbsp;1 to Barrick&#146;s Form
6-K furnished to the Commission on January&nbsp;31, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>3.2</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Material change report dated
November&nbsp;9, 2005 relating to the
Offeror&#146;s intention to make the Offer (incorporated by reference
to Exhibit&nbsp;1 to Barrick&#146;s Form&nbsp;6-K furnished to the
Commission by Barrick on November&nbsp;10, 2005)</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>
<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px"><B>3.3</B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Material Document dated
November&nbsp;9, 2005, containing the Bid Support and Purchase
Agreement, dated October&nbsp;30, 2005, between Barrick Gold
Corporation and Goldcorp Inc., relating to Barrick&#146;s Intention
to make the Offer (incorporated by reference to Exhibit&nbsp;2 to
Barrick&#146;s Form&nbsp;6-K furnished to the Commission on November&nbsp;10, 2005).
</TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
</TR>

<TR valign="bottom">
    <TD nowrap align="left" valign="top"><B>7.1</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Davies Ward Phillips &#038; Vineberg LLP regarding
Canadian Federal Income Tax (filed
herewith)</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top"><B>7.2</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Davies Ward Phillips &#038; Vineberg LLP regarding United
States Federal Income Tax (filed
herewith)</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top"><B>7.3</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent of Greenwoods &#038; Freehills PTY Limited regarding Australian
Federal Income Tax (filed herewith)</DIV></TD>
</TR>
<TR valign="bottom"><!-- Blank Space -->
    <TD nowrap align="right" valign="top">&nbsp;</TD>
    <TD align="right" valign="top">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;</DIV></TD>
</TR>
<TR valign="bottom">
    <TD nowrap align="left" valign="top"><B>7.4</B></TD>
    <TD nowrap valign="top">&nbsp;</TD>

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Consent
of PricewaterhouseCoopers LLP (filed herewith)</DIV></TD>
</TR>


<!-- End Table Body -->
</TABLE>
</DIV>



<P align="center" style="font-size: 10pt">12
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>t18587fexv1w1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
<HTML>
<HEAD>
<TITLE>exv1w1</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD></TD>
    <TD align="left">
    <B><I><FONT style="font-size: 8pt">This document is important
    and requires your immediate attention. If you are in any doubt
    as to how to deal with it, you should consult your investment
    dealer, stock broker, bank manager, trust company manager,
    accountant, lawyer or other professional advisor. No securities
    regulatory authority has expressed an opinion about the
    securities that are subject to this Offer and it is an offence
    to claim otherwise.</FONT></I></B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 8pt; margin-top: 4pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>This Offer has not been approved or disapproved by any
securities regulatory authority nor has any securities
regulatory authority passed upon the fairness or merits of the
Offer or upon the adequacy of the information contained in this
document. Any representation to the contrary is an
offence.</I></B>
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
November&nbsp;10, 2005
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<IMG src="t18587fbarrickp.gif" alt="(BARRICK LOGO)">
</DIV>

<DIV align="center" style="font-size: 22pt; margin-top: 14pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>BARRICK GOLD CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 14pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>OFFER TO PURCHASE</B>
</DIV>

<DIV align="center" style="font-size: 11pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>all of the outstanding common shares of</B>
</DIV>

<DIV align="center" style="font-size: 22pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>PLACER DOME INC.</B>
</DIV>

<DIV align="center" style="font-size: 11pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>on the basis of, at the election of each holder,</B>
</DIV>

<DIV align="center" style="font-size: 11pt;">
<B>(a)&nbsp;US$20.50 in cash (the &#147;Cash Alternative&#148;);
or</B>
</DIV>

<DIV align="center" style="font-size: 11pt;">
<B>(b)&nbsp;0.7518 of a Barrick common share and US$0.05 in cash
(the &#147;Share Alternative&#148;)</B>
</DIV>

<DIV align="center" style="font-size: 11pt;">
<B>for each common share of Placer Dome Inc.</B>
</DIV>

<DIV align="center" style="font-size: 11pt;">
<B>subject, in each case, to pro ration as set out herein.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 10pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Barrick Gold Corporation (the &#147;<B>Offeror</B>&#148;) hereby
offers (the &#147;<B>Offer</B>&#148;) to purchase, on and
subject to the terms and conditions of the Offer, all of the
outstanding common shares (including those shares that are
subject to CHESS Depositary Interests and International
Depositary Receipts) of Placer Dome Inc. (&#147;<B>Placer
Dome</B>&#148;), which includes common shares that may become
outstanding after the date of the Offer but before the expiry
time of the Offer upon conversion, exchange or exercise of
options or convertible debentures or other securities of Placer
Dome that are convertible into or exchangeable or exercisable
for common shares, together with the associated rights (the
&#147;<B>SRP&nbsp;Rights</B>&#148;) issued under the Shareholder
Rights Plan of Placer Dome described under &#147;Shareholder
Rights Plan&#148; in the accompanying Circular (collectively,
the &#147;<B>Shares</B>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Offer will be open for acceptance until 8:00&nbsp;p.m.
(Toronto time) on December&nbsp;20, 2005, unless the Offer is
extended or withdrawn (the &#147;Expiry Time&#148;).</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Each holder of Shares (a &#147;<B>Shareholder</B>&#148;) may
elect to receive either the Cash Alternative or the Share
Alternative in respect of all of the Shareholder&#146;s Shares
deposited under the Offer. The total amount of cash available
under the Offer is limited to US$1,223,721,097 and the total
number of common shares of the Offeror (the &#147;<B>Barrick
Common Shares</B>&#148;) available for issuance under the Offer
is limited to 303,021,050&nbsp;Barrick Common Shares (based on
the number of Shares outstanding on a fully diluted basis as of
October&nbsp;21, 2005 as disclosed by Placer Dome). See
Section&nbsp;1 of the Offer. In light of the total amount of
cash available under the Offer relative to the size of the
Offer, it is unlikely that Shareholders who elect to receive the
Cash Alternative will receive only cash consideration for their
Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The Offer is subject to certain conditions which are described
under &#147;Conditions of the Offer&#148; in Section&nbsp;4 of
the Offer including, without limitation, there having been
validly deposited pursuant to the Offer and not withdrawn at the
Expiry Time that number of Shares which constitutes at least
66<FONT style="font-size: 70%"><SUP>2</SUP></FONT>/<FONT style="font-size: 60%">3</FONT>%
of the Shares outstanding calculated on a fully diluted basis.
Subject to applicable Law (as defined in the enclosed Offer),
the Offeror reserves the right to withdraw the Offer and to not
take up and pay for any Shares deposited to the Offer unless
each of the conditions of the Offer is satisfied or waived by
the Offeror at or before the Expiry Time.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I>The Dealer Managers for the Offer are:</I>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="53%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="44%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <I>In Canada</I></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <I>In the United States</I></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>RBC Dominion Securities Inc.</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>RBC Capital Markets Corporation</B></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Merrill Lynch Canada Inc.</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Merrill Lynch, Pierce, Fenner &#38;</B></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Smith Incorporated</B></TD>
</TR>

</TABLE>
</CENTER>
</DIV>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Barrick Common Shares are listed on the New York Stock
Exchange (&#147;<B>NYSE</B>&#148;) and the Toronto Stock
Exchange (&#147;<B>TSX</B>&#148;) under the stock symbol
&#147;ABX&#148;. The Barrick Common Shares also trade on the
London Stock Exchange, the SWX Swiss Exchange and
Euronext-Paris. The Shares are listed on the NYSE, the TSX, the
Australian Stock Exchange (&#147;<B>ASX</B>&#148;) in the form
of CHESS Depositary Interests, Euronext-Paris and the SWX Swiss
Exchange. The Shares are listed under the stock symbol
&#147;PDG&#148;. International Depositary Receipts representing
the Shares are listed on Euronext-Brussels.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>On October&nbsp;28, 2005, the last trading day prior to the
Offeror&#146;s announcement of its intention to make the Offer,
the closing price of the Shares on the NYSE was US$16.51 and the
closing price of the Barrick Common Shares on the NYSE was
US$27.20. The Offer price of US$20.50 per Share represents a
premium of approximately 24% over the closing price of the
Shares on the NYSE on October&nbsp;28, 2005. The Offer price of
US$20.50 per Share also represents a premium of approximately
27% over the average closing price of the Shares on the NYSE for
the ten&nbsp;trading days immediately preceding the date of the
Offeror&#146;s announcement of its intention to make the
Offer.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For a discussion of risks and uncertainties to consider in
assessing the Offer, see &#147;Business Combination Risks&#148;
in Section&nbsp;7 of the Circular and the risks described in the
Offeror&#146;s Form&nbsp;40-F/ Annual Information Form dated
March&nbsp;30, 2005, which is incorporated by reference in the
Offer and Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders who wish to accept the Offer must properly complete
and execute the accompanying letter of transmittal (the
&#147;<B>Letter of Transmittal</B>&#148;) (printed on yellow
paper) or a manually signed facsimile thereof and deposit it,
together with certificates representing their Shares and all
other required documents, with CIBC Mellon Trust&nbsp;Company
(the &#147;<B>Depositary</B>&#148;) or Mellon Investor Services
LLC (the &#147;<B>U.S.&nbsp;Forwarding Agent</B>&#148;), at any
of the offices set out in the Letter of Transmittal in
accordance with the instructions in the Letter of Transmittal.
Alternatively, Shareholders may (1)&nbsp;accept the Offer in the
United States by following the procedures for book-entry
transfer of Shares described under &#147;Manner of
Acceptance&nbsp;&#151; Acceptance by Book-Entry Transfer in the
United States&#148; in Section&nbsp;3 of the Offer; or
(2)&nbsp;accept the Offer where the certificates representing
the Shares are not immediately available, or if the certificates
and all of the required documents cannot be provided to the
Depositary or the U.S. Forwarding Agent before the Expiry Time,
by following the procedures for guaranteed delivery described
under &#147;Manner of Acceptance&nbsp;&#151; Procedure for
Guaranteed Delivery&#148; in Section&nbsp;3 of the Offer using
the accompanying notice of guaranteed delivery (the
&#147;<B>Notice of Guaranteed Delivery</B>&#148;) (printed on
pink paper) or a facsimile thereof. Shareholders will not be
required to pay any fee or commission if they accept the Offer
by depositing their Shares directly with the Depositary or the
U.S.&nbsp;Forwarding Agent or if they make use of the services
of a member of the Soliciting Dealer Group to accept the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Questions and requests for assistance may be directed to the
Dealer Managers, the Depositary, the U.S.&nbsp;Forwarding Agent
or the Information Agents for the Offer. Additional copies of
the Offer and Circular, the Letter of Transmittal and the Notice
of Guaranteed Delivery may be obtained without charge on request
from the Dealer Managers, the Depositary, the U.S. Forwarding
Agent or the Information Agents at their respective addresses
shown on the last page of this document.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>This document does not constitute an offer or a solicitation
to any person in any jurisdiction in which such offer or
solicitation is unlawful. The Offer is not being made to, nor
will deposits be accepted from or on behalf of, Shareholders in
any jurisdiction in which the making or acceptance thereof would
not be in compliance with the laws of such jurisdiction.
However, the Offeror may, in its sole discretion, take such
action as it may deem necessary to extend the Offer to
Shareholders in any such jurisdiction.</B>
</DIV>

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>STATEMENTS REGARDING FORWARD-LOOKING INFORMATION</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Certain information included herein, including any information
as to our future financial or operating performance and other
statements that express management&#146;s expectations or
estimates of future performance, constitute
&#147;forward-looking statements&#148;. The words
&#147;expect&#148;, &#147;will&#148;, &#147;intend&#148;,
&#147;estimate&#148; 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 Offeror 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 the Offeror to
be materially different from the Offeror&#146;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 fuel and electricity) and currencies;
ability to successfully integrate acquired assets; legislative,
political or economic developments in the jurisdictions in which
the Offeror carries on business; operating or technical
difficulties in connection with mining or development
activities; the speculative nature of gold exploration and
development, including the risks of diminishing quantities or
grades of reserves; and the risks involved in the exploration,
development and mining business. These factors are discussed in
greater detail in the Offeror&#146;s Form&nbsp;40-F/ Annual
Information Form on file with the U.S. Securities and Exchange
Commission and Canadian provincial securities regulatory
authorities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following factors, among others, related to the business
combination of the Offeror and Placer Dome could cause actual
results to differ materially from the forward-looking
statements: the Barrick Common Shares issued in connection with
the Offer may have a market value lower than expected; the
business of the Offeror and Placer Dome may not be integrated
successfully or such integration may be more difficult,
time-consuming or costly than expected; and the expected
combination benefit from the Offeror/ Placer Dome transaction
may not be fully realized or not realized within the expected
time frame. See &#147;Strategic Rationale&#148; in
Section&nbsp;4 of the Circular, &#147;Purpose of the Offer&#148;
in Section&nbsp;5 of the Circular, &#147;Plans for Placer
Dome&#148; in Section&nbsp;6 of the Circular and &#147;Business
Combination Risks&#148; in Section&nbsp;7 the Circular. These
factors are not intended to represent a complete list of the
factors that could affect the Offeror and the combination of the
Offeror and Placer Dome. Additional factors are noted elsewhere
in the Offer and Circular and in documents incorporated by
reference in the Offer and Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTICE TO SHAREHOLDERS IN CANADA</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror presents its financial statements in U.S. dollars
and its financial statements are prepared in accordance with
United States generally accepted accounting principles, or U.S.
GAAP. As financial information in the Offer and Circular has
been prepared in accordance with U.S. GAAP, it may not be
comparable to financial data prepared by other Canadian
companies.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTICE TO SHAREHOLDERS IN THE UNITED STATES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The Offer is made for the securities of a Canadian issuer and
by a Canadian issuer that is permitted, under a
multijurisdictional disclosure system adopted by the United
States, to prepare the Offer and Circular in accordance with the
disclosure requirements of Canada. Shareholders should be aware
that such requirements are different from those of the United
States.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Shareholders in the United States should be aware that the
disposition of Shares and the acquisition of Barrick Common
Shares by them as described herein may have tax consequences
both in the United States and in Canada. Such consequences may
not be fully described herein and such Shareholders are
encouraged to consult their tax advisors. See &#147;Canadian
Federal Income Tax Considerations&#148; in Section&nbsp;22 of
the Circular and &#147;United States Federal Income Tax
Considerations&#148; in Section&nbsp;23 of the Circular.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The enforcement by Shareholders of civil liabilities under
the United States federal securities laws may be affected
adversely by the fact that the Offeror is incorporated under the
laws of the Province of Ontario, Canada, that some or all of its
officers and directors may be residents of a foreign country,
that some or all of</B>
</DIV>

<P align="center" style="font-size: 10pt;">i

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<DIV align="left" style="font-size: 10pt;">
<B>the experts named herein may be residents of a foreign
country and that all or a substantial portion of the assets of
the Offeror and said persons may be located outside the United
States.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>THE SECURITIES OFFERED PURSUANT TO THE OFFER AND CIRCULAR
HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE UNITED STATES
SECURITIES AND EXCHANGE COMMISSION NOR HAS THE COMMISSION PASSED
UPON THE ACCURACY OR ADEQUACY OF THE OFFER AND CIRCULAR. ANY
REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE.</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTICE TO SHAREHOLDERS IN AUSTRALIA</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is not regulated by Chapter&nbsp;6 of the
<I>Corporations Act</I> (Australia), but rather pursuant to the
applicable requirements of Canada. Australian Shareholders and
CDI Holders should be aware that these requirements are
different from those of Australia. The Offeror presents its
financial statements in U.S. dollars and its financial
statements are prepared in accordance with United States
generally accepted accounting principles, or U.S. GAAP. As
financial information in the Offer and Circular has been
prepared in accordance with U.S. GAAP, it may not be comparable
to financial data prepared by similar Australian companies. The
documents identified as &#147;Documents Incorporated by
Reference&#148; and described in Section&nbsp;11 of the
Circular, as well as information on the interests and fees of
certain persons involved in the Offer and a qualitative
description of some differences between U.S.&nbsp;GAAP and
Australian International Financial Reporting Standards, have
been lodged with the Australian Securities and Investments
Commission (&#147;<B>ASIC</B>&#148;). The Form&nbsp;40-F/Annual
Information Form of the Offeror, which is one of the documents
lodged with ASIC, is a disclosure document intended to provide
material information about the Offeror and its business at a
point in time in the context of its historical and possible
future development. Until the Expiry Time, you may obtain copies
of each of these documents free of charge by requesting them
from the Vice President, Assistant General Counsel and Secretary
of the Offeror, BCE Place, Canada Trust Tower, Suite&nbsp;3700,
161 Bay Street, P.O. Box&nbsp;212, Toronto, Ontario
M5J&nbsp;2S1, telephone 416-861-9911. These documents can also
be obtained from ASIC for a fee.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTICE TO SHAREHOLDERS IN FRANCE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer cannot be made to holders in France of Shares admitted
to trading on Euronext-Paris (the &#147;<B>French
Shares</B>&#148;) except as described below. A French offer
notice (<I>Communiqu&#233; &#233;tabli conform&#233;ment &#224;
l&#146;article 231-26 du R&#232;glement g&#233;n&#233;ral</I>),
addressing issues specific to holders of French Shares (the
&#147;<B>French Offer Notice</B>&#148;) is expected to be
reviewed by the <I>Autorit&#233; des March&#233;s
Financiers.</I> Once clearance has been obtained, the French
Offer Notice will be distributed in France to holders of French
Shares, and the Offer will be made to such holders. The French
Offer Notice will make reference to the Offer, the Circular and
other documents incorporated by reference therein.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>HOLDERS IN BELGIUM OF SHARES AND IDRs</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer cannot be made to holders in Belgium of Shares and/or
International Depositary Receipts admitted to trading on
Euronext-Brussels (the &#147;<B>IDRs</B>&#148;), other than
institutional investors as defined in Article&nbsp;3,2&#176; of
the Belgian Royal Decree of 7&nbsp;July 1999 on the public
character of financial transactions, except as described below.
A Belgian supplement, addressing issues specific to holders of
Shares and/or IDRs in Belgium (the &#147;<B>Belgian
Supplement</B>&#148;) is expected to be approved, together with
the Offer and Circular, by the relevant Belgian control
authorities. Once such approval has been obtained, the Offer and
Circular can be distributed in Belgium to holders of Shares
and/or IDRs but only together with the Belgian Supplement, and
the Offer will be made to such holders.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTICE TO HOLDERS OF IDRs</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holders of IDRs admitted to trading on the Euronext-Brussels are
invited to contact the Information Agents (referred to on the
last page of this document) for information on whether and how
they can participate in the Offer in respect of the applicable
Shares.
</DIV>

<P align="center" style="font-size: 10pt;">ii

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTICE TO HOLDERS OF OPTIONS AND CONVERTIBLE DEBENTURES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is made only for Shares and is not made for any stock
options (&#147;<B>Options</B>&#148;), debentures convertible
into Shares (&#147;<B>Convertible Debentures</B>&#148;) or other
rights to acquire Shares (other than SRP Rights). Any holder of
such Options, Convertible Debentures or other rights to acquire
Shares who wishes to accept the Offer should, to the extent
permitted by the terms of the security and applicable Law,
exercise the Options, convert the Convertible Debentures or
otherwise exercise such rights in order to obtain certificates
representing Shares and deposit those Shares pursuant to the
Offer. Any such exercise or conversion must be completed
sufficiently in advance of the Expiry Time to assure the holder
of such Options, Convertible Debentures or other rights to
acquire Shares that the holder will have certificates
representing the Shares received on such exercise or conversion
available for deposit before the Expiry Time, or in sufficient
time to comply with the procedures referred to under
&#147;Manner of Acceptance&nbsp;&#151; Procedure for Guaranteed
Delivery&#148; in Section&nbsp;3 of the Offer. If a holder of
Options does not exercise such Options before the Expiry Time,
such Options will remain outstanding in accordance with their
terms and conditions, including with respect to term to expiry,
vesting and exercise prices, except that, to the extent
permitted, after completion of a Compulsory Acquisition or
Subsequent Acquisition Transaction an option to acquire Shares
will become an option or right to acquire a number of Barrick
Common Shares, and/or in some cases receive a cash payment, as
determined in accordance with the terms of the Option. If a
holder of Convertible Debentures does not convert such
Convertible Debentures before the Expiry Time, such Convertible
Debentures will remain outstanding in accordance with their
terms and conditions, including with respect to maturity, except
that, to the extent permitted, after completion of a Compulsory
Acquisition or Subsequent Acquisition Transaction, a Convertible
Debenture may become convertible into a number of Barrick Common
Shares to be determined in accordance with the terms of the
Convertible Debentures. The tax consequences to holders of
Options or Convertible Debentures of exercising their Options or
converting their Convertible Debentures are not described in
&#147;Canadian Federal Income Tax Considerations&#148; in
Section&nbsp;22 of the Circular, &#147;United States Federal
Income Tax Considerations&#148; in Section&nbsp;23 of the
Circular or &#147;Australian Federal Income Tax
Considerations&#148; in Section&nbsp;24 of the Circular. Holders
of Options or Convertible Debentures should consult their tax
advisors for advice with respect to potential income tax
consequences to them in connection with the decision to exercise
or not exercise their Options or to convert or not convert their
Convertible Debentures.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>EXCHANGE RATES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Unless otherwise indicated, all references to &#147;$&#148;
or &#147;dollars&#148; in the Offer and the Circular refer to
U.S. dollars.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth, for the periods indicated,
certain information with respect to the rate of exchange for one
U.S. dollar expressed in Canadian dollars:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="53%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ten</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Months</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="15">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap><B>Year Ended December 31,</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>October&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2005</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2003</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2002</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2001</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Average rate for
    period<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.2195</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.3015</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.4015</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.5704</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.5484</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Rate at end of
    period<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.1801</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.2036</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.2924</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.5796</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.5926</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(1)</TD>
    <TD align="left">
    Represents the period average of the noon rates as reported by
    the Bank of Canada.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)</TD>
    <TD align="left">
    Represents the noon rates as reported by the Bank of Canada on
    the last trading day of the period.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;
On November&nbsp;8, 2005, the noon rate of exchange as reported
by the Bank of Canada for one U.S. dollar expressed in Canadian
dollars was $1.1886.
</DIV>

<P align="center" style="font-size: 10pt;">iii
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>TABLE OF CONTENTS</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="84%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    SUMMARY TERM SHEET</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    1</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    SUMMARY OF THE OFFER</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    6</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    DEFINITIONS</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    14</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    OFFER</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    19</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    1.&nbsp;&nbsp;&nbsp;The Offer</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    19</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    2.&nbsp;&nbsp;&nbsp;Time for Acceptance</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    21</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    3.&nbsp;&nbsp;&nbsp;Manner of Acceptance</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    21</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    4.&nbsp;&nbsp;&nbsp;Conditions of the Offer</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    26</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    5.&nbsp;&nbsp;&nbsp;Extension, Variation or Change in the Offer</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    29</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    6.&nbsp;&nbsp;&nbsp;Take up of and Payment for Deposited Shares</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    30</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    7.&nbsp;&nbsp;&nbsp;Right to Withdraw Deposited Shares</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    31</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    8.&nbsp;&nbsp;&nbsp;Return of Deposited Shares</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    32</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    9.&nbsp;&nbsp;&nbsp;Mail Service Interruption</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    33</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    10.&nbsp;Changes in Capitalization, Dividends and Distributions</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    33</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    11.&nbsp;Notice and Delivery</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    34</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    12.&nbsp;Market Purchases</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    34</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    13.&nbsp;Other Terms of the Offer</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    34</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    CIRCULAR</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    36</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    1.&nbsp;&nbsp;&nbsp;The Offeror</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    36</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    2.&nbsp;&nbsp;&nbsp;Placer Dome</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    37</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    3.&nbsp;&nbsp;&nbsp;Background to the Offer</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    37</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    4.&nbsp;&nbsp;&nbsp;Strategic Rationale</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    41</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    5.&nbsp;&nbsp;&nbsp;Purpose of the Offer</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    42</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    6.&nbsp;&nbsp;&nbsp;Plans for Placer Dome</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    43</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    7.&nbsp;&nbsp;&nbsp;Business Combination Risks</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    43</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    8.&nbsp;&nbsp;&nbsp;Source of Funds</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    46</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    9.&nbsp;&nbsp;&nbsp;Summary Historical and Unaudited Pro Forma
    Consolidated Financial Information</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    47</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    10.&nbsp;Certain Information Concerning the Offeror and Its
    Shares</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    49</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    11.&nbsp;Documents Incorporated by Reference</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    52</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    12.&nbsp;Ownership of and Trading in Shares of Placer Dome</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    53</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    13.&nbsp;Commitments to Acquire Shares of Placer Dome</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    53</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    14.&nbsp;Arrangements, Agreements or Understandings</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    53</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    15.&nbsp;Benefits from the Offer</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    54</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    16.&nbsp;Material Changes and Other Information Concerning
    Placer Dome</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    54</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    17.&nbsp;Certain Information Concerning Placer Dome and Its
    Shares</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    54</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    18.&nbsp;Effect of the Offer on the Market for Shares; Stock
    Exchange Listing and Public Disclosure</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    55</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    19.&nbsp;Regulatory Matters</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    56</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    20.&nbsp;Shareholder Rights Plan</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    58</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    21.&nbsp;Acquisition of Shares Not Deposited Pursuant to the
    Offer</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    60</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    22.&nbsp;Canadian Federal Income Tax Considerations</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    63</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    23.&nbsp;United States Federal Income Tax Considerations</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    69</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    24.&nbsp;Australian Federal Income Tax Considerations</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    73</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    25.&nbsp;Other Matters Relating to the Offer</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    76</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    26.&nbsp;Stock Exchange Listing Applications</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    77</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    27.&nbsp;Offerees&#146; Statutory Rights</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    78</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    28.&nbsp;Registration Statement Filed with the SEC</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    78</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    29.&nbsp;Directors&#146; Approval</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    78</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    AUDITORS&#146; CONSENT</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    79</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    CONSENT OF COUNSEL</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    80</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    CERTIFICATE</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    81</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    SCHEDULE A</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    A-1</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    SCHEDULE B</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    B-1</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    SCHEDULE C</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="bottom">
    C-1</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">iv
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
 <A name='201'></A>
</DIV>

<!-- link1 "SUMMARY TERM SHEET" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SUMMARY TERM SHEET</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following are some of the questions that you, as a
Shareholder of Placer Dome Inc., may have and the answers to
those questions. This summary term sheet is not meant to be a
substitute for the information contained in the Offer and
Circular, the Letter of Transmittal and the Notice of Guaranteed
Delivery. The information contained in this summary term sheet
is qualified in its entirety by the more detailed descriptions
and explanations contained in the Offer and Circular, the Letter
of Transmittal and the Notice of Guaranteed Delivery. Therefore,
we urge you to carefully read the entire Offer and Circular, the
Letter of Transmittal and the Notice of Guaranteed Delivery
prior to making any decision regarding whether or not to tender
your Shares. We have included cross-references in this summary
term sheet to other sections of the Offer and Circular where you
will find more complete descriptions of the topics mentioned in
this summary term sheet. Unless otherwise defined herein,
capitalized terms have the meanings assigned to them in the
Definitions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHAT IS THE OFFER?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Barrick Gold Corporation is offering to purchase all the
outstanding Shares of Placer Dome on the basis of, at the
election of the Shareholder, (a)&nbsp;US$20.50 in cash for each
Share or (b)&nbsp;0.7518 of a Barrick Common Share and US$0.05
in cash for each Share, subject to pro ration based upon the
maximum amount of cash and Barrick Common Shares offered.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;The Offer&#148; in Section&nbsp;1 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHO IS OFFERING TO PURCHASE MY SHARES?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Our name is Barrick Gold Corporation. We are a corporation
organized under the laws of the Province of Ontario, Canada. We
are a leading international gold mining company, with a
portfolio of operating mines and projects located in the United
States, Canada, Australia, Peru, Chile, Argentina and Tanzania.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;The Offeror&#148; in Section&nbsp;1 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHAT ARE THE CLASSES OF SECURITIES SOUGHT IN THE OFFER?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We are offering to purchase all the outstanding common shares of
Placer Dome and the associated rights under Placer Dome&#146;s
shareholder rights plan. This includes Shares that may become
outstanding after the date of this Offer, but before the
expiration of the Offer, upon conversion, exchange or exercise
of any options or convertible debentures or other securities of
Placer Dome that are convertible into, or exchangeable or
exercisable for Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;The Offer&#148; in Section&nbsp;1 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>HOW MANY SHARES ARE YOU SEEKING TO PURCHASE, AT WHAT PRICE
AND WHAT IS THE FORM OF PAYMENT?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We are offering to purchase all of the outstanding Shares on the
basis of, at the election of the Shareholder, (a)&nbsp;US$20.50
in cash for each Share or (b)&nbsp;0.7518 of a Barrick Common
Share and US$0.05 in cash for each Share. The consideration
payable under the Offer will be subject to pro ration as
necessary to ensure that the total aggregate consideration
payable under the Offer and in any second-step transaction does
not exceed specified maximum aggregate amounts and will be based
on the number of Shares acquired in proportion to the number of
Shares outstanding on a fully diluted basis. The maximum amount
of cash consideration available under the Offer is
US$1,223,721,097 and the maximum number of Barrick Common Shares
issuable under the Offer is 303,021,050 Barrick Common Shares
(based on the number of Shares outstanding on a fully diluted
basis as of October&nbsp;21, 2005 as disclosed by Placer Dome).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer price of US$20.50&nbsp;per Share represents a premium
of approximately 24% over the closing price of the Shares on the
NYSE on October&nbsp;28, 2005, the trading day preceding the day
we announced our intention to make the Offer. The Offer price of
US$20.50 also represents a premium of approximately 27% over the
average closing price of the Shares on the NYSE for the ten
trading days immediately preceding the day we announced our
intention to make the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;The Offer&#148; in Section&nbsp;1 of the Offer.
</DIV>

<P align="center" style="font-size: 10pt;">1

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WILL I HAVE TO PAY ANY FEES OR COMMISSIONS?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If you are the owner of record of your Shares and you tender
your Shares in the Offer by depositing the Shares directly with
the Depositary or the U.S.&nbsp;Forwarding Agent or you use the
services of a member of the Soliciting Dealer Group to accept
the Offer, you will not have to pay any brokerage or similar
fees or commissions. However, if you own your Shares through a
broker or other nominee, and your broker tenders your Shares on
your behalf, your broker or nominee may charge you a fee for
that service. You should consult your broker or nominee to
determine whether any charges will apply.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Other Matters Relating to the Offer&#148; in
Section&nbsp;25 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHY ARE YOU MAKING THIS OFFER?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We are making the Offer because we want to acquire control of,
and ultimately the entire equity interest in, Placer Dome. If we
complete the Offer but do not then own 100% of Placer Dome, we
intend to acquire any Shares not deposited to the Offer in a
second-step transaction. This transaction would likely take the
form of a Compulsory Acquisition or a Subsequent Acquisition
Transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Purpose of the Offer&#148; in Section&nbsp;5 of the
Circular and &#147;Acquisition of Shares Not Deposited Pursuant
to the Offer&#148; in Section&nbsp;21 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>DO YOU HAVE THE CASH RESOURCES TO PAY FOR THE SHARES?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Yes. We intend to use our existing $1&nbsp;billion credit
facility and to either increase the amount available under that
facility or arrange for an additional credit facility to pay the
cash consideration portion of the Offer price. If we are unable
to arrange an increase to our existing credit facility or an
additional credit facility on satisfactory terms, we will use a
portion of our cash on hand to pay the balance of the cash
consideration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Source of Funds&#148; in Section&nbsp;8 of the
Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHAT ARE THE MOST IMPORTANT CONDITIONS TO THE OFFER?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is subject to a number of conditions, including:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>1.</TD>
    <TD align="left">
    Shareholders must validly tender and not withdraw before the
    expiration of the Offer a number of Shares that would represent
    at least
    66<FONT style="font-size: 70%"><SUP>2</SUP></FONT>/<FONT style="font-size: 60%">3</FONT>%
    of the total number of outstanding Shares on a fully diluted
    basis.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>2.</TD>
    <TD align="left">
    Placer Dome&#146;s board of directors must waive our acquisition
    of Shares under the Offer as a triggering event under Placer
    Dome&#146;s shareholder rights plan or we must be satisfied that
    such rights have been invalidated or are otherwise inapplicable
    to the Offer and any proposed second-step transaction.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>3.</TD>
    <TD align="left">
    All government or regulatory approvals, permits or consents or
    waiting or suspensory periods that are necessary or advisable to
    complete the Offer, any Compulsory Acquisition or any Subsequent
    Acquisition Transaction or the Goldcorp Transaction (described
    below) shall have been obtained, received or concluded or, in
    the case of waiting or suspensory periods, expired or been
    terminated.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>4.</TD>
    <TD align="left">
    Placer Dome shall not have reorganized in a manner that would
    have the effect of preventing the Offeror from obtaining a full
    tax-cost &#147;bump&#148; under Canadian law in respect of
    certain assets of Placer Dome.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is subject to certain other conditions as well. A more
detailed discussion of the conditions to the consummation of the
Offer can be found in &#147;Conditions to the Offer&#148; in
Section&nbsp;4 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>HOW LONG DO I HAVE TO DECIDE WHETHER TO TENDER TO THE
OFFER?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You have until the expiration date of the Offer to tender. The
Offer is scheduled to expire at 8:00&nbsp;p.m., Toronto time, on
December&nbsp;20, 2005, unless it is extended or withdrawn.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Time for Acceptance&#148; in Section&nbsp;2 of the
Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>CAN YOU EXTEND THE OFFER?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We can elect, at any time, to extend the Offer. If we extend the
Offer, we will inform the Depositary of that fact and will make
a public announcement of the extension in compliance with
applicable Canadian and U.S.&nbsp;law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Extension, Variation or Change in the Offer&#148; in
Section&nbsp;5 of the Offer.
</DIV>

<P align="center" style="font-size: 10pt;">2

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>HOW DO I ACCEPT THE OFFER AND TENDER MY SHARES?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You can accept the Offer by delivering to the Depositary or the
U.S.&nbsp;Forwarding Agent before the expiration of the Offer
(1)&nbsp;the certificate(s) representing the Shares in respect
of which the Offer is being accepted, (2)&nbsp;a Letter of
Transmittal in the form accompanying the Offer and Circular
properly completed and duly executed as required by the
instructions set out in the Letter of Transmittal, and
(3)&nbsp;all other documents required by the instructions set
out in the Letter of Transmittal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If you cannot deliver all of the necessary documents to the
Depositary or the U.S.&nbsp;Forwarding Agent in time, you may be
able to complete and deliver to the Depositary the enclosed
Notice of Guaranteed Delivery, provided you are able to comply
fully with its terms.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If you are a U.S.&nbsp;Shareholder, you may also accept the
Offer pursuant to the procedures for book-entry transfer
detailed in the Offer and Circular and have your Shares tendered
by your nominee through The Depository Trust Company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders, including holders of CHESS Depositary Interests
and International Depositary Receipts, are invited to contact
the Information Agents for further information regarding how to
accept the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Manner of Acceptance&#148; in Section&nbsp;3 of the
Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>IF I ACCEPT THE OFFER, WHEN WILL I BE PAID?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the conditions of the Offer are satisfied or waived, and if
we consummate the Offer and take up your Shares, you will
receive payment for the Shares you tendered promptly and in any
event no later than either the tenth day after the expiration of
the Offer or three Business Days after the Shares are accepted.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Take up of and Payment for Deposited Shares&#148; in
Section&nbsp;6 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>CAN I WITHDRAW MY PREVIOUSLY TENDERED SHARES?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You may withdraw all or a portion of your tendered Shares:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>1.</TD>
    <TD align="left">
    at any time when your Shares have not been taken up by us;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>2.</TD>
    <TD align="left">
    if your Shares have not been paid for by us within three
    Business Days after having been taken up;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>3.</TD>
    <TD align="left">
    up until the tenth day following the day we file a notice
    announcing that we have changed or varied our Offer unless,
    among other things, prior to filing the notice we had taken up
    your Shares or the change in our Offer consists solely of an
    increase in the consideration we are offering and the Offer is
    not extended for more than ten days;&nbsp;or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>4.</TD>
    <TD align="left">
    if we have not taken up your Shares within 60&nbsp;days of the
    commencement of the Offer, at any time after the 60-day period
    until we do take up your Shares.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Right to Withdraw Deposited Shares&#148; in
Section&nbsp;7 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>HOW DO I WITHDRAW PREVIOUSLY TENDERED SHARES?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To withdraw Shares that have been tendered, you must deliver a
written notice of withdrawal, with the required information, to
either the Depositary or the U.S.&nbsp;Forwarding Agent,
depending on with whom you originally deposited your Shares,
while you still have the right to withdraw the Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Right to Withdraw Deposited Shares&#148; in
Section&nbsp;7 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHAT DOES PLACER DOME&#146;S BOARD OF DIRECTORS THINK OF THE
OFFER?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Following announcement of the Offer, the board of directors of
Placer Dome announced that it had appointed a special committee
of independent directors to evaluate the Offer, consider
alternatives and make recommendations to the full board of
directors. As of the date of the Offer and Circular, the board
of directors of Placer Dome has not stated any opinion regarding
the Offer.
</DIV>

<P align="center" style="font-size: 10pt;">3

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>IF I DO NOT TENDER BUT THE OFFER IS SUCCESSFUL, WHAT WILL
HAPPEN TO MY SHARES?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the conditions of the Offer are otherwise satisfied or waived
and we take up and pay for the Shares validly deposited pursuant
to the Offer, we intend to acquire any Shares not deposited to
the Offer:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>1.</TD>
    <TD align="left">
    by Compulsory Acquisition, if at least 90% of the outstanding
    Shares are validly tendered pursuant to the Offer and not
    withdrawn; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>2.</TD>
    <TD align="left">
    by a Subsequent Acquisition Transaction on the same terms as
    such Shares were acquired under the Offer, if a Compulsory
    Acquisition is not available or if we decide not to proceed with
    a Compulsory Acquisition.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Purpose of the Offer&#148; in Section&nbsp;5 of the
Circular and &#147;Acquisition of Shares Not Deposited Pursuant
to the Offer&#148; in Section&nbsp;21 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>FOLLOWING THE OFFER, WILL PLACER DOME CONTINUE AS A PUBLIC
COMPANY?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Depending upon the number of Shares purchased pursuant to the
Offer, it is possible the Shares will fail to meet the criteria
for continued listing on the Toronto Stock Exchange, New York
Stock Exchange, Australian Stock Exchange, Euronext-Paris, the
SWX&nbsp;Swiss Exchange and/or Euronext-Brussels. If this were
to happen, the Shares could be delisted on one or more of these
exchanges and this could, in turn, adversely affect the market
or result in a lack of an established market for the Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If we acquire 100% of the Shares, it is our intention to apply
to delist the Shares from the exchanges listed above as soon as
practicable after completion of the Offer or a Compulsory
Acquisition or Subsequent Acquisition Transaction. In addition,
Placer Dome may cease to be required to comply with the rules of
the Canadian securities regulatory authorities and the
Securities and Exchange Commission&#146;s rules governing
publicly held companies.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Effect of the Offer on the Market for Shares; Stock
Exchange Listing and Public Disclosure&#148; in Section&nbsp;18
of the&nbsp;Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WILL I HAVE THE RIGHT TO HAVE MY SHARES APPRAISED?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The completion of either a Compulsory Acquisition or a
Subsequent Acquisition Transaction may result in Shareholders
having the right to dissent and demand payment of the fair value
of their Shares. If the statutory procedures governing dissent
rights are available and are complied with, this right could
lead to judicial determination of the fair value required to be
paid to such dissenting Shareholders for their Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Acquisition of Shares Not Deposited Pursuant to the
Offer&#148; in Section&nbsp;21 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHAT IS THE MARKET VALUE OF MY SHARES AS OF A RECENT DATE?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On October&nbsp;28, 2005, which is the last trading day prior to
the date on which we announced our intention to make the Offer,
the closing price of the Shares on the New York Stock Exchange
was US$16.51. We urge you to obtain a recent quotation for the
Shares before deciding whether or not to tender your Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Certain Information Concerning the Offeror and Its
Shares&nbsp;&#151; Price Range and Trading Volumes of the
Barrick Common Shares&#148; in Section&nbsp;10 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHAT IS THE GOLDCORP TRANSACTION?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We have entered into an agreement with Goldcorp Inc., a
corporation organized under the laws of the Province of Ontario,
under which, following the acquisition by the Offeror of 100% of
the outstanding Shares, Goldcorp will acquire certain Placer
Dome assets and assumed liabilities as well as an interest in a
development project for which Goldcorp will pay us approximately
$1,350&nbsp;million in cash.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Background to the Offer&nbsp;&#151; Goldcorp
Agreement&#148; in Section&nbsp;3 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>HOW WILL CANADIAN RESIDENTS AND NON-RESIDENTS OF CANADA BE
TAXED FOR CANADIAN FEDERAL INCOME TAX PURPOSES?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder who is resident in Canada, who holds Shares as
capital property and who disposes of such Shares to us under the
Offer (subject to entering into a joint election with us to
obtain a full or partial tax deferral when available as
described under &#147;Canadian Federal Income Tax
Considerations&#148; in Section&nbsp;22 of the Circular) will be
considered to have disposed of the Shares on a taxable basis and
will realize a capital gain (or capital loss). Generally,
Shareholders who are not resident in Canada for purposes of the
Tax Act will not be subject to tax under the Tax Act in respect
of
</DIV>

<P align="center" style="font-size: 10pt;">4

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<DIV align="left" style="font-size: 10pt;">
any capital gain realized on the sale of Shares to us under the
Offer unless those Shares constitute &#147;taxable Canadian
property&#148; (within the meaning of the Tax Act) to such
Shareholders and the gain is not otherwise exempt from tax under
the Tax Act pursuant to an exemption contained in an applicable
income tax treaty or convention. An Eligible Holder who disposes
of Shares pursuant to the Share Alternative and who further
elects the Rollover Option in the Letter of Transmittal may,
depending upon the circumstances, obtain a full or partial
tax-deferred rollover in respect of a disposition of Shares by
entering into a joint election with us and filing such election
with the CRA (and any appropriate provincial tax authority)
under section&nbsp;85 of the Tax Act (and the corresponding
provisions of any applicable provincial tax legislation)
specifying therein an elected amount in accordance with certain
limitations provided for in the Tax Act (and in any applicable
provincial legislation).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We urge you to read carefully the section entitled
&#147;Canadian Federal Income Tax Considerations&#148; in
Section&nbsp;22 of the Circular and to consult your own tax
advisor as to the particular tax consequences to you of the
Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>HOW WILL U.S.&nbsp;TAXPAYERS BE TAXED FOR U.S.&nbsp;FEDERAL
INCOME TAX PURPOSES?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder who is a citizen of or resident of the United
States for tax purposes, who holds Shares as capital property
and who disposes of their Shares to us under the Offer, will
generally recognize gain or loss in an amount equal to the
difference, if any, between (i)&nbsp;the fair market value of
any Barrick Common Shares received by the Shareholder pursuant
to the Offer plus the amount of any cash received, and
(ii)&nbsp;the adjusted tax basis of the Shareholder in the
Shares disposed of to us.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We urge you to read carefully &#147;United States Federal Income
Tax Considerations&#148; in Section&nbsp;23 of the Circular and
to consult your own tax advisor as to the particular tax
consequences to you of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHOM CAN I CALL WITH QUESTIONS?</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
You may contact Kingsdale Shareholder Services Inc., MacKenzie
Partners Inc., CIBC Mellon Trust Company, Mellon Investor
Services LLC, RBC Dominion Securities Inc., Merrill Lynch Canada
Inc., RBC Capital Markets Corporation or Merrill Lynch, Pierce,
Fenner&nbsp;&#38; Smith Incorporated at their respective
telephone numbers and locations set out on the back page of this
Offer and Circular. Kingsdale Shareholder Services Inc. is
acting as the Information Agent in Canada; MacKenzie Partners,
Inc. is acting as Information Agent in the U.S. and other
jurisdictions; CIBC Mellon Trust Company is acting as
Depositary; Mellon Investor Services LLC is acting as
U.S.&nbsp;Forwarding Agent; RBC Dominion Securities Inc. and
Merrill Lynch Canada Inc. are acting as Dealer Managers in
Canada; and RBC&nbsp;Capital Markets Corporation and Merrill
Lynch, Pierce, Fenner&nbsp;&#38; Smith Incorporated are acting
as Dealer Managers in the United States.
</DIV>

<P align="center" style="font-size: 10pt;">5

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<DIV style="width: 100%; border: 1px solid black; padding: 6px;">

<DIV align="left" style="font-size: 10pt;">
<A name='101'></A>
</DIV>

<!-- link1 "SUMMARY OF THE OFFER" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SUMMARY OF THE OFFER</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following is a summary only and is qualified by the detailed
provisions contained in the Offer and the Circular. Shareholders
are urged to read the Offer and the Circular in their entirety.
Capitalized terms used in this summary, where not otherwise
defined herein, are defined in the Section entitled
&#147;Definitions&#148;. The information concerning Placer Dome
contained herein and in the Offer and Circular has been taken
from or is based upon publicly available documents or records of
Placer Dome on file with Canadian securities regulatory
authorities and other public sources at the time of the Offer.
Although the Offeror has no knowledge that would indicate that
any statements contained herein relating to Placer Dome taken
from or based upon such documents and records are untrue or
incomplete, neither the Offeror nor any of its officers or
directors assumes any responsibility for the accuracy or
completeness of the information relating to Placer Dome taken
from or based upon such documents and records, or for any
failure by Placer Dome to disclose events that may have occurred
or may affect the significance or accuracy of any such
information but that are unknown to the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Offer</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror hereby offers to purchase, on and subject to the
terms and conditions of the Offer, all of the outstanding
Shares, which includes Shares that may become outstanding after
the date of the Offer but before the Expiry Time upon
conversion, exchange or exercise of any Options or Convertible
Debentures or other securities of Placer Dome that are
convertible into or exchangeable or exercisable for Shares, on
the basis of, at the election of the Shareholder:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    $20.50 in cash for each Share (the &#147;<B>Cash
    Alternative</B>&#148;); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    0.7518 of a Barrick Common Share and $0.05 in cash for each
    Share (the &#147;<B>Share Alternative</B>&#148;),</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
in each case, as elected by the Shareholder in the applicable
Letter of Transmittal, and subject to pro ration as more fully
described in Section&nbsp;1 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Assuming that either all Shareholders tendered to the Cash
Alternative or all Shareholders tendered to the Share
Alternative, each Shareholder would be entitled to receive $2.65
in cash and 0.6562 of a Barrick Common Share for each Share
tendered, subject to adjustment for fractional shares. In light
of the total amount of cash available under the Offer relative
to the size of the Offer, it is unlikely that Shareholders who
elect to receive the Cash Alternative will receive only cash
consideration for their Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The Offer price of $20.50 per Share represents a premium of
approximately 24% over the closing price of the Shares on the
NYSE on October&nbsp;28, 2005, the last trading day prior to the
Offeror&#146;s announcement of its intention to make the Offer.
The Offer price also represents a premium of approximately 27%
over the average trading price of Shares on the NYSE for the
ten&nbsp;trading days immediately preceding the date of the
Offeror&#146;s announcement of its intention to make the
Offer.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is made only for Shares and is not made for Options or
Convertible Debentures or other rights to acquire Shares (other
than SRP Rights). Any holder of such Options, Convertible
Debentures or other rights to acquire Shares who wishes to
accept the Offer should, to the extent permitted by the terms of
the security and applicable Law, exercise the Options, convert
the Convertible Debentures or otherwise exercise such rights in
order to obtain certificates representing Shares and deposit
those Shares pursuant to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No fractional Barrick Common Shares will be issued pursuant to
the Offer. Where a Shareholder is to receive Barrick Common
Shares as consideration under the Offer and the aggregate number
of Barrick Common Shares to be issued to such Shareholder would
result in a fraction of a Barrick Common Share being issuable,
the number of Barrick Common Shares to be received by such
Shareholder will either be rounded up (if the fractional
interest is 0.5 or more) or down (if the fractional interest is
less than 0.5) and the amount of cash to be received by such
Shareholder will correspondingly be either decreased or
increased (on the basis of $27.20 per Barrick Common Share), as
described in Section&nbsp;1 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders who are Eligible Holders and who elect the Share
Alternative, and who further elect the Rollover Option in the
Letter of Transmittal, may make the necessary joint tax election
with the Offeror to obtain a full or partial tax-deferred
exchange for Canadian federal income tax purposes. See
&#147;Canadian Federal Income Tax Considerations&#148; in
Section&nbsp;22 of the Circular.
</DIV>
</DIV>

<P align="center" style="font-size: 10pt;">6

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<DIV style="width: 100%; border: 1px solid black; padding: 6px;">

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The maximum amount of cash consideration available under the
Offer is $1,223,721,097 and the maximum number of Barrick Common
Shares issuable under the Offer is 303,021,050 Barrick Common
Shares (based on the number of Shares outstanding on a fully
diluted basis as of October&nbsp;21, 2005 as disclosed by Placer
Dome). The consideration payable under the Offer will be
pro&nbsp;rated on each Take-Up Date as necessary to ensure that
the total aggregate consideration payable under the Offer and in
any Subsequent Acquisition Transaction does not exceed the
maximum aggregate amounts and will be based on the number of
Shares acquired in proportion to the number of Shares
outstanding on a fully diluted basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The obligation of the Offeror to take up and pay for Shares
pursuant to the Offer is subject to certain conditions. See
&#147;Conditions of the Offer&#148; in Section&nbsp;4 of the
Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Offeror</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror is a leading international gold mining company, with
a portfolio of operating mines and development projects located
in the United States, Canada, Australia, Peru, Chile, Argentina
and Tanzania. The Offeror successfully completed the
construction of the Tulawaka, Lagunas Norte and Veladero mines
in 2005, and is on track to commission the Cowal mine in the
first quarter of 2006. The Offeror also has four other projects
at various stages in its development pipeline. The Offeror is
targeting an increase in its gold production to about
6.8&nbsp;million ounces in 2007. The Offeror is also actively
exploring approximately 100&nbsp;projects in 16&nbsp;countries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Barrick Common Shares are listed on the NYSE and the TSX
under the symbol &#147;ABX&#148;. The Barrick Common Shares also
trade on the London Stock Exchange, the SWX Swiss Exchange and
Euronext-Paris. On October&nbsp;28, 2005, which was the last
trading day prior to the Offeror&#146;s announcement of its
intention to make the Offer, the closing price of the Barrick
Common Shares on the NYSE was $27.20.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;The Offeror&#148; in Section&nbsp;1 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Placer Dome</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Placer Dome is principally engaged in the exploration for and
the acquisition, development and operation of gold mineral
properties. At present, major mining operations are located in
Canada, the United States, Australia, Papua New&nbsp;Guinea,
South Africa, Tanzania and Chile. Exploration work is carried
out in the foregoing countries and many others elsewhere
throughout the world. Placer Dome&#146;s principal product and
source of earnings is gold, although significant quantities of
copper and silver are also produced.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Shares are listed on the TSX, the NYSE, the ASX in the form
of CHESS depositary interests, Euronext-Paris and the SWX Swiss
Exchange. The Shares are listed under the stock symbol
&#147;PDG&#148;. International Depository Receipts representing
the Shares are listed on Euronext-Brussels. On October&nbsp;28,
2005, which was the last trading day prior to the Offeror&#146;s
announcement of its intention to make the Offer, the closing
price of the Shares on the NYSE was $16.51.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Placer Dome&#148; in Section&nbsp;2 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Strategic Rationale and Plans for Placer Dome</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The purpose of the Offer is to acquire all of the outstanding
Shares of Placer Dome. The Offeror believes that the proposed
business combination between the Offeror and Placer Dome is a
unique opportunity to create a Canadian-based leader in the
global gold mining industry. If the Offer is successful and the
Offeror acquires 100% of the outstanding Shares, the Offeror
will strengthen its position, including in respect of reserves,
production, growth opportunities, and balance sheet strength.
The Offeror believes that the Offer represents significant value
to Placer Dome&#146;s Shareholders by providing them with a
substantial premium to the price at which the Shares were
trading prior to announcement of the Offer as well as the
opportunity to participate in a well-managed and
highly-respected global company in the gold mining industry with
demonstrated expertise in finding, developing and operating
large-scale mines worldwide.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Strategic Rationale&#148; in Section&nbsp;4 of the
Circular and &#147;Plans for Placer Dome&#148; in Section&nbsp;6
of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Time for Acceptance</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is open for acceptance until 8:00 p.m. (Toronto time)
on December&nbsp;20, 2005, or until such later time and date or
times and dates to which it may be extended, unless the Offer is
withdrawn by the Offeror. The Offeror
</DIV>
</DIV>

<P align="center" style="font-size: 10pt;">7

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<DIV style="width: 100%; border: 1px solid black; padding: 6px;">

<DIV align="left" style="font-size: 10pt;">
may, in its sole discretion but subject to applicable Laws,
extend the Expiry Time, as described under &#147;Extension,
Variation or Change in the Offer&#148; in Section&nbsp;5 of the
Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Manner of Acceptance</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders can accept the Offer by delivering to the
Depositary or the U.S. Forwarding Agent at any of the offices of
the Depositary or the U.S. Forwarding Agent listed in the
accompanying Letter of Transmittal (printed on yellow paper), so
as to be received before the Expiry Time: (1)&nbsp;the
certificate(s) representing the Shares in respect of which the
Offer is being accepted, (2)&nbsp;a Letter of Transmittal in the
form accompanying the Offer and Circular (or a manually signed
facsimile thereof) properly completed and duly executed as
required by the instructions set out in the Letter of
Transmittal, and (3)&nbsp;all other documents required by the
instructions set out in the Letter of Transmittal. See
&#147;Manner of Acceptance&nbsp;&#151; Letter of
Transmittal&#148; in Section&nbsp;3 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Shareholder wishes to accept the Offer and either the
certificate(s) representing the Shares are not immediately
available or the Shareholder is not able to deliver the
certificate(s) and all other required documents to the
Depositary or the U.S. Forwarding Agent before the Expiry Time,
those Shares may nevertheless be deposited pursuant to the
Offer, provided that (1)&nbsp;such deposit is made by or through
an Eligible Institution, (2)&nbsp;a properly completed and duly
executed Notice of Guaranteed Delivery (printed on pink paper)
in the form accompanying the Offer and Circular (or a manually
signed facsimile thereof) is received by the Depositary before
the Expiry Time at its Toronto, Ontario office listed on the
Notice of Guaranteed Delivery, (3)&nbsp;the certificate(s)
representing all deposited Shares, together with a properly
completed and duly executed Letter of Transmittal (or a manually
signed facsimile thereof) relating to the Shares, with
signatures guaranteed if so required, are received by the
Depositary at its office in Toronto, Ontario listed in the
Letter of Transmittal before 5:00&nbsp;p.m. (Toronto time) on
the third trading day on the TSX after the Expiry Date, and
(4)&nbsp;in certain circumstances, Rights Certificate(s),
together with a properly completed and duly executed Letter of
Transmittal (or a manually signed facsimile thereof) relating to
the SRP Rights, with signatures guaranteed if so required, are
received by the Depositary at its office in Toronto, Ontario
listed in the Letter of Transmittal before 5:00&nbsp;p.m.
(Toronto time) on the third trading day on the TSX after the
Rights Certificates are distributed to Shareholders. See
&#147;Manner of Acceptance&nbsp;&#151; Procedure for Guaranteed
Delivery&#148; in Section&nbsp;3 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders may also accept the Offer in the United States by
following the procedures for book-entry transfer, provided that
a Book-Entry Confirmation of the transfer of the
Shareholder&#146;s Shares in the Depositary&#146;s account at
The Depository Trust&nbsp;Company together with an Agent&#146;s
Message in respect thereof and other required documents are
received by the Depositary at its office in Toronto, Ontario
before the Expiry Time. See &#147;Manner of
Acceptance&nbsp;&#151; Acceptance by Book-Entry Transfer in the
United States&#148; in Section&nbsp;3 of the Offer. Shareholders
accepting the Offer through book-entry transfer must make sure
such documents or Agent&#146;s Message are received by the
Depositary. Such documents or Agent&#146;s Message should not be
sent to the U.S. Forwarding Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Shareholders whose Shares are registered in the name of an
investment dealer, stock broker, bank, trust company or other
nominee should contact that nominee for assistance if they wish
to accept the Offer.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>CDI Holders may only accept the Offer through the CDI
Nominee.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Holders of IDRs are invited to contact the Information Agents
for information on whether and how they can participate in the
Offer in respect of the applicable Shares.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Shareholders will not be required to pay any fee or
commission if they accept the Offer by depositing their Shares
directly with the Depositary or the U.S. Forwarding Agent or if
they make use of the services of a member of the Soliciting
Dealer Group to accept the Offer.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Withdrawal of the Deposited Shares</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any Shares deposited in acceptance of the Offer may be withdrawn
by or on behalf of the depositing Shareholder at any time when
the Shares have not been taken up by the Offeror. Additional
withdrawal rights may be available under other circumstances as
required by applicable Law. See &#147;Right to Withdraw
Deposited Shares&#148; in Section&nbsp;7 of the Offer. Except as
so indicated or as otherwise required by applicable Law,
deposits of Shares are irrevocable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Conditions of the Offer</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror will have the right to withdraw the Offer and not
take up or pay for any Shares deposited pursuant to the Offer if
any of the conditions described under &#147;Conditions of the
Offer&#148; in Section&nbsp;4 of the Offer have not been
satisfied or waived by the Offeror at or before the Expiry Time.
The Offer is conditional upon, among other things,
</DIV>
</DIV>

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<DIV align="left" style="font-size: 10pt;">
there having been validly deposited pursuant to the Offer and
not withdrawn at the Expiry Time such number of Shares which
constitutes at least
66<FONT style="font-size: 70%"><SUP>2</SUP></FONT>/<FONT style="font-size: 60%">3</FONT>%
of the Shares outstanding calculated on a fully diluted basis.
See &#147;Conditions of the Offer&#148; in Section&nbsp;4 of the
Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Payment for Deposited Shares</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If all the conditions referred to under &#147;Conditions of the
Offer&#148; in Section&nbsp;4 of the Offer have been satisfied
or waived at or before the Expiry Time, the Offeror will take up
Shares validly deposited pursuant to the Offer and not properly
withdrawn, not later than ten days after the Expiry Time. The
Offeror will pay for the Shares so taken up as soon as possible,
but in any event not later than the earlier of (a)&nbsp;the
tenth day after the Expiry Time, and (b)&nbsp;three Business
Days after taking up such Shares. Any Shares deposited to the
Offer after the first date on which Shares have been taken up by
the Offeror but before the Expiry Date will be taken up and paid
for within ten days of such deposit. See &#147;Take&nbsp;up of
and Payment for Deposited Shares&#148; in Section&nbsp;6 of the
Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Subsequent Acquisition Transaction</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If, within 120&nbsp;days after the date of the Offer, the Offer
has been accepted by the holders of, in the aggregate, not less
than 90% of the issued and outstanding Shares, the Offeror may
acquire the remaining Shares from those Shareholders who have
not accepted the Offer pursuant to a Compulsory Acquisition. If
the Offeror takes up and pays for Shares validly deposited to
the Offer and a Compulsory Acquisition is not available or the
Offeror elects not to pursue a Compulsory Acquisition, the
Offeror currently intends, depending upon the number of Shares
taken-up and paid for under the Offer, to cause a special
meeting of Shareholders to be called to consider an
amalgamation, capital reorganization, share consolidation,
statutory arrangement or other transaction involving Placer Dome
and the Offeror or an affiliate of the Offeror for the purpose
of enabling the Offeror or an affiliate of the Offeror to
acquire all Shares not acquired pursuant to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The timing and details of any Compulsory Acquisition or
Subsequent Acquisition Transaction involving Placer Dome will
necessarily depend on a variety of factors, including the number
of Shares acquired pursuant to the Offer. Although the Offeror
currently intends to propose a Compulsory Acquisition or a
Subsequent Acquisition Transaction on the same terms as the
Offer, it is possible that, as a result of the number of Shares
acquired under the Offer, delays in the Offeror&#146;s ability
to effect such a transaction, information hereafter obtained by
the Offeror, changes in general economic, industry, regulatory
or market conditions or in the business of Placer Dome, or other
currently unforeseen circumstances, such a transaction may not
be so proposed or may be delayed or abandoned.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Acquisition of Shares Not Deposited Pursuant to the
Offer&#148; in Section&nbsp;21 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Shareholder Rights Plan</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On February&nbsp;26, 2004, the Board of Directors of Placer Dome
adopted a Shareholder Rights Plan which was confirmed by
Shareholders on May&nbsp;5, 2004. The Offer is not a Permitted
Bid for the purposes of the Shareholder Rights Plan.
Accordingly, in order for the Offer to proceed, the Shareholder
Rights Plan must be terminated or some action must be taken by
the Board of Directors or by a securities commission or court of
competent jurisdiction to remove the effect of the Shareholder
Rights Plan and permit the Offer to proceed. See
&#147;Shareholder Rights Plan&#148; in Section&nbsp;20 of the
Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror believes that at the Expiry Time, Placer Dome and
its Board of Directors and Shareholders will have had more than
adequate time to fully consider the Offer and any available
alternative transactions and to determine whether to deposit
their Shares pursuant to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is being made on the condition, among others, that the
Shareholder Rights Plan does not and will not adversely affect
the Offer or the Offeror either before or on consummation of the
Offer or the purchase of Shares of Placer Dome under a
Compulsory Acquisition or consummation of any Subsequent
Acquisition Transaction. See&nbsp;&#147;Conditions of the
Offer&#148; in Section&nbsp;4 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Canadian Federal Income Tax Considerations</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder who is resident in Canada, who holds Shares as
capital property and who disposes of such Shares to the Offeror
under the Offer (subject to entering into a joint election with
the Offeror to obtain a full or partial tax deferral when
available as described under &#147;Canadian Federal Income Tax
Considerations&#148; in Section&nbsp;22 of the Circular) will
realize a capital gain (or capital loss) equal to the amount by
which the sum of the cash and the fair
</DIV>
</DIV>

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<DIV align="left" style="font-size: 10pt;">
market value, on the date of the disposition, of the Barrick
Common Shares received, net of any reasonable costs of
disposition, exceeds (or is less than) the aggregate adjusted
cost base to the Shareholder of such Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Generally, Shareholders who are not resident in Canada for
purposes of the Tax Act will not be subject to tax under the
Tax&nbsp;Act in respect of any capital gain realized on the sale
of Shares to the Offeror under the Offer unless those Shares
constitute &#147;taxable Canadian property&#148; (within the
meaning of the Tax&nbsp;Act) to such Shareholders and the gain
is not otherwise exempt from tax under the Tax Act pursuant to
an exemption contained in an applicable income tax treaty or
convention.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An Eligible Holder who disposes of Shares pursuant to the Share
Alternative and who further elects the Rollover Option in the
Letter of Transmittal may, depending upon the circumstances,
obtain a full or partial tax deferral in respect of a
disposition of Shares by entering into a joint election with the
Offeror and filing such election with the CRA (and any
appropriate provincial tax authority) under section&nbsp;85 of
the Tax Act (and the corresponding provisions of any applicable
provincial tax legislation) specifying therein an elected amount
in accordance with certain limitations provided for in the Tax
Act (and in any applicable provincial legislation).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The foregoing is a brief summary of Canadian federal income
tax consequences only and is qualified by the more detailed
general description of Canadian federal income tax
considerations under &#147;Canadian Federal Income Tax
Considerations&#148; in Section&nbsp;22 of the Circular.
Shareholders are urged to consult their own tax advisors to
determine the particular tax consequences to them of a sale of
Shares pursuant to the Offer or a Compulsory Acquisition or a
disposition of Shares pursuant to any Subsequent Acquisition
Transaction.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>United States Federal Income Tax Considerations</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder who is a citizen of or resident in the United
States for tax purposes, who holds Shares as capital property
and who disposes of its Shares to the Offeror under the Offer
will generally recognize gain or loss in an amount equal to the
difference, if any, between (i)&nbsp;the fair market value of
any Barrick Common Shares received by the Shareholder pursuant
to the Offer plus the amount of any cash received and
(ii)&nbsp;the adjusted tax basis of the Shareholder in the
Shares disposed of to the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The foregoing is a brief summary of United States federal
income tax consequences only and is qualified by the more
detailed general description of United States federal income tax
considerations under &#147;United States Federal Income Tax
Considerations&#148; in Section&nbsp;23 of the Circular.
Shareholders are urged to consult their own tax advisors to
determine the particular tax consequences to them of a sale of
Shares pursuant to the Offer or a Compulsory Acquisition or a
disposition of Shares pursuant to any Subsequent Acquisition
Transaction.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Australian Federal Income Tax Considerations</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder who is a tax resident of Australia, who holds
Shares as capital assets, who acquired (or is taken to have
acquired) Shares before September&nbsp;20, 1985 and who disposes
of Shares to the Offeror under the Offer (whether under the Cash
Alternative or the Share Alternative) will generally not realize
a capital gain or capital loss on the disposal of Shares.
However, where Barrick Common Shares are received as
consideration, such a Shareholder will be taken to have acquired
their Barrick Common Shares at the time the Letter of
Transmittal is executed with a cost base equal to their market
value at the time. Therefore, any subsequent disposal of the
Barrick Common Shares will generally result in the realization
of a capital gain or capital loss by the Shareholder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder who is a tax resident of Australia, who holds
Shares as capital assets, who acquired (or is taken to have
acquired) Shares on or after September&nbsp;20, 1985 and who
disposes of Shares to the Offeror will generally realize a
capital gain at the time such Shareholder executes a Letter of
Transmittal accepting the Offer to the extent that the
consideration for a particular Share is more than the cost base
(or, in certain circumstances, indexed cost base) of that Share,
and a capital loss to the extent that the consideration for a
particular Share is less than the reduced cost base of the Share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If Barrick Common Shares are received as consideration under the
Offer by a Shareholder who is a tax resident of Australia, who
holds Shares as capital assets, who acquired (or is taken to
have acquired) Shares on or after September&nbsp;20, 1985 and
who would (but for CGT rollover relief) realize a capital gain
on the disposal of the Shares, will generally be eligible for
CGT rollover relief if the Offeror becomes the owner of 80% or
more of the Shares under the Offer. CGT rollover relief will
only apply to the portion of the capital gain that relates to
the share component of the consideration. It will not apply to
the cash component of the consideration. If the Shareholder
realizes a capital loss on the disposal of Shares, CGT rollover
relief is not available in respect of those Shares.
</DIV>
</DIV>

<P align="center" style="font-size: 10pt;">10

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
However, it is considered that CGT rollover relief will not be
available if the Offeror does not acquire 80% or more of the
Shares under the Offer, even if the Offeror subsequently
acquires more than 80% of the Shares in a Subsequent Acquisition
Transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder who is an individual, complying superannuation
entity or a trustee and who acquired the Shares at least
12&nbsp;months before executing the Letter of Transmittal,
should be entitled to discount capital gains treatment for the
Shares disposed of under the Offer, provided that they have not
elected to use the indexation method to calculate their cost
base. The discount capital gains treatment entitles such
Shareholders to reduce their capital gain on those Shares (after
deducting available capital losses of the Shareholder) by half,
in the case of individuals and trustees, or by one-third in the
case of complying superannuation entities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Generally, Shareholders who are not tax residents of Australia
will not be subject to tax in Australia in respect of any
capital gain realized on the sale of Shares to the Offeror under
the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The foregoing is a brief summary of the Australian federal
income tax consequences only as regards the disposal by
Shareholders of their Shares under the Offer but not pursuant to
any Subsequent Acquisition Transaction and is qualified by the
more detailed general description of the Australian income tax
consideration under &#147;Australian Federal Income Tax
Considerations&#148; in Section&nbsp;24 of the Circular.
Shareholders are urged to consult their own tax advisors to
determine the particular tax consequences to them of a sale of
Shares pursuant to the Offer or a Compulsory Acquisition or a
disposition of Shares pursuant to any Subsequent Acquisition
Transaction.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Risk Factors</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An investment in Barrick Common Shares and the business
combination with Placer Dome are subject to certain risks. In
assessing the Offer, Shareholders should carefully consider the
risks described under &#147;Business Combination Risks&#148; in
Section&nbsp;7 of the Circular and the risks described in the
Offeror&#146;s Form&nbsp;40-F/ Annual Information Form, which is
incorporated by reference in the Offer and Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Depositary and U.S. Forwarding Agent</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CIBC Mellon Trust&nbsp;Company is acting as Depositary and
Mellon Investor Services LLC is acting as U.S. Forwarding Agent
under the Offer. In such capacity, the Depositary and the U.S.
Forwarding Agent will receive deposits of certificates
representing the Shares and accompanying Letters of Transmittal
at the offices specified in the Letter of Transmittal. The
Depositary will also receive Notices of Guaranteed Delivery at
its office in Toronto, Ontario specified in the Notice of
Guaranteed Delivery. The Depositary will also be responsible for
giving notices, if required, and for making payment for all
Shares purchased by the Offeror under the Offer. In the United
States, the Depositary will also facilitate book-entry transfer
of Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Dealer Managers, Soliciting Dealer Group and Information
Agents</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror has engaged the services of RBC Dominion Securities
Inc. and Merrill Lynch Canada Inc. as Dealer Managers in Canada
to solicit acceptances of the Offer. RBC Dominion Securities
Inc. and Merrill Lynch Canada Inc. intend to form a soliciting
dealer group (the &#147;<B>Soliciting Dealer Group</B>&#148;)
comprised of members of the Investment Dealers Association of
Canada and members of the TSX and the TSX Venture Exchange to
solicit acceptances of the Offer from persons who are resident
in Canada and will also solicit acceptances of the Offer in the
United States in the case of RBC Dominion Securities Inc.,
through its United States registered broker dealer affiliate,
RBC Capital Markets Corporation, and in the case of Merrill
Lynch Canada Inc., through Merrill Lynch, Pierce, Fenner &#38;
Smith Incorporated.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror has engaged MacKenzie Partners&nbsp;Inc. and
Kingsdale Shareholder Services&nbsp;Inc. as Information Agents
to provide a resource for information for Shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders will not be required to pay any fee or commission
if they accept the Offer by depositing their Shares directly
with the Depositary or the U.S.&nbsp;Forwarding Agent or if they
make use of the services of a member of the Soliciting Dealer
Group to accept the Offer. Shareholders should contact the
Dealer Managers, the Depositary, the U.S. Forwarding Agent or a
broker or dealer for assistance in accepting the Offer and in
depositing the Shares with the Depositary or the
U.S.&nbsp;Forwarding Agent.
</DIV>
</DIV>

<P align="center" style="font-size: 10pt;">11

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SUMMARY HISTORICAL AND UNAUDITED PRO FORMA CONSOLIDATED
FINANCIAL INFORMATION</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following tables include a summary of (i)&nbsp;the
Offeror&#146;s historical consolidated financial information for
the years ended December&nbsp;31, 2002, 2003 and 2004 and for
the nine months ended September&nbsp;30, 2005 and
(ii)&nbsp;unaudited pro forma consolidated financial information
for the Offeror for the nine months ended September&nbsp;30,
2005 and for the year ended December&nbsp;31, 2004. The
historical financial information for the years ended
December&nbsp;31, 2002, 2003 and 2004 has been derived from the
Offeror&#146;s audited consolidated financial statements. The
historical financial information for the nine months ended
September&nbsp;30, 2005 has been derived from the Offeror&#146;s
unaudited consolidated financial statements. The unaudited pro
forma consolidated financial information for the Offeror has
been derived from the unaudited comparative interim consolidated
financial statements of the Offeror and Placer Dome for the nine
months ended September&nbsp;30, 2005, the audited comparative
consolidated financial statements of the Offeror and Placer Dome
for the year ended December&nbsp;31, 2004 and such other
supplementary information as was available to the Offeror and
considered necessary to give pro&nbsp;forma effect to the
acquisition of Placer Dome by the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The summary unaudited pro forma consolidated financial statement
information set forth below should be read in conjunction with
the unaudited pro&nbsp;forma consolidated financial statements
of the Offeror, the accompanying notes thereto and the
compilation report of PricewaterhouseCoopers LLP thereon
included in the Circular. The summary unaudited pro&nbsp;forma
consolidated financial statement information for the Offeror
gives effect to the proposed acquisition of Placer Dome as if it
had occurred as at September&nbsp;30, 2005 for the purposes of
the pro&nbsp;forma consolidated balance sheet information and as
at January&nbsp;1, 2004 for the purposes of the pro&nbsp;forma
consolidated statements of income for the periods ended
December&nbsp;31, 2004 and September&nbsp;30, 2005. In preparing
the unaudited pro&nbsp;forma consolidated financial statement
information, management of the Offeror has made certain
assumptions that affect the amounts reported in the unaudited
pro&nbsp;forma consolidated financial statement information. The
summary unaudited pro&nbsp;forma consolidated financial
information is not intended to be indicative of the results that
would actually have occurred, or the results expected in future
periods, had the events reflected herein occurred on the dates
indicated. Actual amounts recorded upon consummation of the
transaction contemplated by the Offer will differ from the
pro&nbsp;forma information presented below. <B>No attempt has
been made to calculate or estimate the effect of harmonization
of accounting policies or practices between the Offeror and
Placer Dome due to the limited publicly available information.
Any potential synergies that may be realized after consummation
of the transaction have been excluded from the unaudited pro
forma financial statement information. The effect of the
Goldcorp Transaction on the financial position and results of
operations of the Offeror has not been reflected in the
unaudited pro forma consolidated financial statement information
set forth below because of a lack of complete publicly available
information relating to the assets, liabilities, revenues and
expenses of the Goldcorp Assets and Goldcorp Liabilities and
also because the final price adjustments relating to the
Goldcorp Agreement cannot be definitively estimated at the date
hereof. </B>The unaudited pro&nbsp;forma consolidated financial
statement information set forth below is extracted from and
should be read in conjunction with the unaudited pro&nbsp;forma
consolidated financial statements of the Offeror and
accompanying notes included in Schedule&nbsp;A to the Circular.
</DIV>
</DIV>

<P align="center" style="font-size: 10pt;">12

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="27%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>



<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Nine Months Ended</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>December&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>December&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>December&nbsp;31, 2004</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>September&nbsp;30, 2005</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2002</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2003</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro forma</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="22" align="center" nowrap>(in millions of dollars, except per share data in dollars)</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Statement of Income Data</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,967</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,035</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,932</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,820</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,574</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,013</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income before cumulative effect&nbsp;of changes in accounting
    principles</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>193</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>217</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>248</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>522</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>220</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>278</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>193</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>248</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>526</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>226</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>270</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income per share before cumulative effect of&nbsp;changes in
    accounting principles&nbsp;&#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.40</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.47</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.40</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income per share &#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.47</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.42</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.42</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Dividends per share</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>N/A</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 27pt; ">

<TR style="font-size: 1pt;">
    <TD width="46%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As at</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As at</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>December&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>December&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>As at September&nbsp;30, 2005</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2003</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro forma</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap>(in millions of dollars, except shares in millions and</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap>per share data in dollars)</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Balance Sheet Data</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cash and cash equivalents</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,398</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,105</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,213</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Restricted cash</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>153</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other current assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>398</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>559</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>735</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,281</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Property, plant and equipment</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,128</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,391</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,982</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6,573</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Unallocated purchase price</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,336</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other non-current assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>862</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>926</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>968</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,645</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>5,358</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,274</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,790</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>19,201</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Current liabilities excluding current portion of
    long-term&nbsp;debt</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>323</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>387</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>460</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>793</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total
    debt<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>760</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,686</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,813</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,333</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other long-term obligations</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>781</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>638</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>713</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,313</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total shareholders&#146; equity</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,494</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,563</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,804</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11,762</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total liabilities and shareholders&#146; equity</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>5,358</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,274</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,790</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>19,201</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Common shares outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>535</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>534</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>538</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>831</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Book value per
    share<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6.68</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.07</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.16</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(1)</TD>
    <TD align="left">
    Pro forma balance includes temporary debt financing of
    $1,224&nbsp;million, representing the maximum cash consideration
    under the Offer, which is expected to be repaid with the
    proceeds of approximately $1,350 million to be received by the
    Offeror on completion of the Goldcorp Transaction.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)</TD>
    <TD align="left">
    Total assets less total liabilities divided by common shares
    outstanding.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">13
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='102'></A>
</DIV>

<!-- link1 "DEFINITIONS" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>DEFINITIONS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>In the accompanying Summary Term Sheet and Summary of the
Offer and in the Offer and Circular, unless the context
otherwise requires or unless defined elsewhere herein, the
following terms have the meanings indicated, and grammatical
variations thereof have the corresponding meanings:</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Acquiring Person</B>&#148; has the meaning ascribed
thereto under &#147;Shareholder Rights Plan&#148; in
Section&nbsp;20 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>affiliate</B>&#148; has the meaning ascribed thereto in
the OSA;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Agent&#146;s Message</B>&#148; has the meaning ascribed
thereto under &#147;Manner of Acceptance&nbsp;&#151; Acceptance
by Book-Entry Transfer in the United States&#148; in
Section&nbsp;3 of the Offer;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>allowable capital loss</B>&#148; has the meaning
ascribed thereto under &#147;Canadian Federal Income Tax
Considerations&#148; in Section&nbsp;22 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>AMF</B>&#148; means the Autorit&#233; des march&#233;s
financiers;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Appointee</B>&#148; has the meaning ascribed thereto
under &#147;Manner of Acceptance&nbsp;&#151; Power of
Attorney&#148; in Section&nbsp;3 of the Offer;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>ARC</B>&#148; has the meaning ascribed thereto under
&#147;Regulatory Matters&nbsp;&#151; Competition Act&#148; in
Section&nbsp;19 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>associate</B>&#148; has the meaning ascribed thereto in
the OSA;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>ASX</B>&#148; means the Australian Stock Exchange;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Barrick</B>&#148; means Barrick Gold Corporation, a
corporation incorporated under the laws of the Province of
Ontario;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Barrick Common Share</B>&#148; means a common share in
the capital of Barrick;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Beneficial Owner</B>&#148; has the meaning ascribed
thereto under &#147;Shareholder Rights Plan&#148; in
Section&nbsp;20 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Board of Directors</B>&#148; means the board of
directors of Placer Dome;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Book-Entry Confirmation</B>&#148; has the meaning
ascribed thereto under &#147;Manner of Acceptance&nbsp;&#151;
Acceptance by Book-Entry Transfer in the United States&#148; in
Section&nbsp;3 of the Offer;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Business Day</B>&#148; has the meaning ascribed thereto
in section&nbsp;89(1) of the OSA;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Cash Alternative</B>&#148; has the meaning ascribed
thereto on the face page of this document;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>CBCA</B>&#148; means the <I>Canada Business Corporation
Act,</I> as amended;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>CDI</B>&#148; means a CHESS Depositary Interest over a
Share;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>CDI Holder</B>&#148; means the holder of one or more
CDIs;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>CDI Nominee</B>&#148; means CHESS Depositary Nominees
Pty Limited (ABN 75 071 346 506);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Cdn.$</B>&#148; means Canadian dollars;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>CDS</B>&#148; means The Canadian Depositary for
Securities Limited;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Circular</B>&#148; means the take-over bid circular
accompanying the Offer and forming a part thereof, including the
schedules attached thereto;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>close of business</B>&#148; on any given date means the
time on such date at which the office of the transfer agent for
the Shares in the City of Toronto, Ontario becomes closed to the
public;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Commissioner</B>&#148; means the Commissioner of
Competition appointed under the Competition Act;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Competing Permitted Bid</B>&#148; has the meaning
ascribed thereto under &#147;Shareholder Rights Plan&#148; in
Section&nbsp;20 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Competition Act</B>&#148; means the <I>Competition Act
</I>(Canada), as amended;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Compulsory Acquisition</B>&#148; has the meaning
ascribed thereto under &#147;Acquisition of Shares Not Deposited
Pursuant to the Offer&#148; in Section&nbsp;21 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Convertible Debentures</B>&#148; means the
$230&nbsp;million of unsecured 20-year senior convertible
debentures of Placer Dome due 2023 with interest payable at
2.75% per year;
</DIV>

<P align="center" style="font-size: 10pt;">14

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>CRA</B>&#148; means the Canada Revenue Agency;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Dealer Managers</B>&#148; means RBC Dominion Securities
Inc. and Merrill Lynch Canada Inc. in Canada, and RBC Capital
Markets Corporation and Merrill Lynch, Pierce, Fenner &#38;
Smith Incorporated in the United States and &#147;<B>Dealer
Manager</B>&#148; means any one of them;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Depositary</B>&#148; means CIBC Mellon
Trust&nbsp;Company at its offices specified in the Letter of
Transmittal;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Deposited Shares</B>&#148; has the meaning ascribed
thereto under &#147;Manner of Acceptance&nbsp;&#151; Dividends
and Distributions&#148; in Section&nbsp;3 of the Offer;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Dissenting Offeree</B>&#148; has the meaning ascribed
thereto under &#147;Acquisition of Shares Not Deposited Pursuant
to the Offer&nbsp;&#151; Compulsory Acquisition&#148; in
Section&nbsp;21 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Distributions</B>&#148; has the meaning ascribed
thereto under &#147;Manner of Acceptance&nbsp;&#151; Dividends
and Distributions&#148; in Section&nbsp;3 of the Offer;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>DTC</B>&#148; means The Depository Trust Company;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Effective Time</B>&#148; has the meaning ascribed
thereto under &#147;Manner of Acceptance&nbsp;&#151; Power of
Attorney&#148; in Section&nbsp;3 of the Offer;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Elected Amount</B>&#148; has the meaning ascribed
thereto under &#147;Canadian Federal Income Tax
Considerations&#148; in Section&nbsp;22 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Eligible Holder</B>&#148; means a Shareholder who is
(a)&nbsp;a resident of Canada for the purposes of the Tax Act
and who is not exempt from tax on income under the Tax Act, or
(b)&nbsp;a non-resident of Canada for the purposes of the Tax
Act, whose Shares constitute &#147;taxable Canadian
property&#148; (as defined by the Tax Act) and who is not exempt
from Canadian tax in respect of any gain realized on the
disposition of Shares by reason of an exemption contained in an
applicable income tax treaty or convention, or (c)&nbsp;a
partnership if one or more members of the partnership are
described in (a)&nbsp;or (b);
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Eligible Institution</B>&#148; means a Canadian
Schedule&nbsp;I chartered bank, a major trust company in Canada,
a member of the Securities Transfer Agents Medallion Program
(STAMP), a member of the Stock Exchanges Medallion Program
(SEMP)&nbsp;or a member of the New York Stock Exchange, Inc.
Medallion Signature Program (MSP). Members of these programs are
usually members of a recognized stock exchange in Canada or the
United States, members of the Investment Dealers Association of
Canada, members of the National Association of Securities
Dealers, Inc. or banks and trust companies in the United States;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Expiry Date</B>&#148; means December&nbsp;20, 2005, or
such later date or dates as may be fixed by the Offeror from
time to time as provided under &#147;Extension, Variation or
Change in the Offer&#148; in Section&nbsp;5 of the Offer, unless
the Offer is withdrawn by the Offeror;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Expiry Time</B>&#148; means 8:00 p.m. (Toronto time) on
the Expiry Date, or such later time or times as may be fixed by
the Offeror from time to time as provided under &#147;Extension,
Variation or Change in the Offer&#148; in Section&nbsp;5 of the
Offer, unless the Offer is withdrawn by the Offeror;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Flip</B>-<B>in Event</B>&#148; has the meaning ascribed
thereto under &#147;Shareholder Rights Plan&#148; in
Section&nbsp;20 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Form&nbsp;40-F/Annual Information Form</B>&#148; means
the annual information form of the Offeror dated March&nbsp;30,
2005 filed with the Canadian provincial securities regulatory
authorities and filed on Form&nbsp;40-F with the SEC;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>fully diluted basis</B>&#148; means, with respect to
the number of outstanding Shares at any time, the number of
Shares that would be outstanding if all rights to acquire Shares
were exercised, other than those which are not, and cannot in
accordance with their terms, become exercisable within
120&nbsp;days following the Expiry Time, but including, for the
purposes of this calculation, all Shares issuable upon the
exercise of Options, whether vested or unvested, and excluding
Shares issuable upon the exercise of the SRP Rights;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Goldcorp</B>&#148; means Goldcorp Inc., a corporation
incorporated under the laws of the Province of Ontario;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Goldcorp Agreement</B>&#148; means the bid support and
purchase agreement dated October&nbsp;30, 2005 between the
Offeror and Goldcorp;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Goldcorp Assets</B>&#148; has the meaning ascribed
thereto under &#147;Background to the Offer&nbsp;&#151; Goldcorp
Agreement&#148; in Section&nbsp;3 of the Circular;
</DIV>

<P align="center" style="font-size: 10pt;">15

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Goldcorp Closing</B>&#148; has the meaning ascribed
thereto under &#147;Background to the Offer&nbsp;&#151; Goldcorp
Agreement&#148; in Section&nbsp;3 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Goldcorp Liabilities</B>&#148; has the meaning ascribed
thereto under &#147;Background to the Offer&nbsp;&#151; Goldcorp
Agreement&#148; in Section&nbsp;3 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Goldcorp Material Adverse Effect</B>&#148; means an
effect that is, or would reasonably be expected to be, material
and adverse to the Goldcorp Assets and Goldcorp Liabilities,
taken as a whole, or the operations or prospects of the Goldcorp
Assets and Goldcorp Liabilities, taken as a whole;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Goldcorp Transaction</B>&#148; means the acquisition of
the Goldcorp Assets by and transfer of the Goldcorp Liabilities
to Goldcorp, as described under &#147;Background to the
Offer&nbsp;&#151; Goldcorp Agreement&#148; in Section&nbsp;3 of
the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Governmental Entity</B>&#148; means: (a)&nbsp;any
supranational body or organization (such as the European Union
and the EFTA Surveillance Authority), nation, government, state,
province, country, territory, municipality, quasi-government,
administrative, judicial or regulatory authority, agency, board,
body, bureau, commission, instrumentality, court or tribunal or
any political subdivision thereof, or any central bank (or
similar monetary or regulatory authority) thereof, any taxing
authority, any ministry or department or agency of any of the
foregoing; (b)&nbsp;any entity exercising executive,
legislative, judicial, regulatory or administrative functions of
or pertaining to government; and (c)&nbsp;any corporation or
other entity owned or controlled, through stock or capital
ownership or otherwise, by any of such entities or other bodies;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>HSR Act</B>&#148; means the United States
<I>Hart-Scott-Rodino Antitrust Improvements Act of 1976</I>, as
amended, and the rules and regulations that have been
promulgated thereunder by the United States Federal Trade
Commission;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>HSR Filing</B>&#148; has the meaning ascribed thereto
under &#147;Regulatory Matters&nbsp;&#151; U.S. Federal
Antitrust Laws&#148; in Section&nbsp;19 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>IDRs</B>&#148; means International Depositary Receipts
representing Shares, which IDRs are traded on Euronext-Brussels;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Information Agents</B>&#148; means MacKenzie Partners
Inc. and Kingsdale Shareholder Services Inc.;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Laws</B>&#148; means any applicable laws, including,
without limitation, supranational, national, provincial, state,
municipal and local civil, commercial, banking, securities, tax,
personal and real property, security, mining, environmental,
water, energy, investment, property ownership, land use and
zoning, sanitary or occupational health and safety laws,
treaties, statutes, ordinances, instruments, judgments, decrees,
injunctions, writs or certificates and orders, by-laws, rules,
regulations, decrees, ordinances, protocols, codes, guidelines,
policies, notices, directions or other requirements of any
Governmental Entity;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Letter of Transmittal</B>&#148; means the Letter of
Transmittal (printed on yellow paper) in the form accompanying
the Offer and Circular, or a facsimile thereof;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Listing Exchanges</B>&#148; means the TSX, the NYSE,
the ASX, Euronext-Paris, the SWX Swiss Exchange and
Euronext-Brussels;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Material Adverse Effect</B>&#148; means, in respect of
any person, an effect that is, or would reasonably be expected
to be, material and adverse to the business, properties, assets,
liabilities (including any contingent liabilities that may arise
through outstanding, pending, or threatened litigation or
otherwise), capitalization, condition (financial or otherwise),
operations, licences, permits, results of operations, prospects,
articles, by-laws, rights or privileges of the relevant person;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Maximum Cash Consideration</B>&#148; means $2.65
multiplied by the number of outstanding Shares on a fully
diluted basis on the date of the Offer;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Maximum Share Consideration</B>&#148; means 0.6562
multiplied by the number of outstanding Shares on a fully
diluted basis on the date of the Offer;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Maximum Take-Up Date Cash Consideration</B>&#148;
means, in respect of a Take-Up Date, the Maximum Cash
Consideration multiplied by a fraction the numerator of which is
the number of Shares to be taken up on such Take-Up Date and the
denominator of which is the number of outstanding Shares on a
fully diluted basis;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Maximum Take-Up Date Share Consideration</B>&#148;
means, in respect of a Take-Up Date, the Maximum Share
Consideration multiplied by a fraction the numerator of which is
the number of Shares to be taken up on such Take-Up Date and the
denominator of which is the number of outstanding Shares on a
fully diluted basis;
</DIV>

<P align="center" style="font-size: 10pt;">16

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Minimum Deposit Condition</B>&#148; has the meaning
ascribed thereto under &#147;Conditions of the Offer&#148; in
Section&nbsp;4 of the Offer;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Notice of Guaranteed Delivery</B>&#148; means the
Notice of Guaranteed Delivery for Deposit of Shares (printed on
pink paper) in the form accompanying the Offer and Circular, or
a facsimile thereof;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>NYSE</B>&#148; means the New York Stock Exchange;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>OBCA</B>&#148; means the <I>Business Corporations Act
</I>(Ontario), as amended;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Offer</B>&#148; means the offer to purchase all of the
outstanding Shares made hereby;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Offer and Circular</B>&#148; means the Offer and the
Circular, collectively;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Offer Period</B>&#148; means the period commencing on
the date of the Offer and ending at the Expiry Time;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Offeror</B>&#148; means Barrick Gold Corporation, a
corporation incorporated under the laws of the Province of
Ontario;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Offeror&#146;s Notice</B>&#148; has the meaning
ascribed thereto under &#147;Acquisition of Shares Not Deposited
Pursuant to the Offer&#148; in Section&nbsp;21 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Options</B>&#148; means outstanding options to acquire
Shares of Placer Dome under the Stock Option Plans;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>OSA</B>&#148; means the <I>Securities Act</I>
(Ontario), as amended;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>OSC</B>&#148; means the Ontario Securities Commission;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Permitted Bid</B>&#148; has the meaning ascribed
thereto under &#147;Shareholder Rights Plan&#148; in
Section&nbsp;20 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Placer Dome</B>&#148; means Placer Dome Inc., a
corporation incorporated under the laws of Canada;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Placer Dome Common Shares</B>&#148; means the common
shares in the capital of Placer Dome and any other shares of
Placer Dome into which such common shares may be subdivided,
consolidated, reclassified or changed;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Purchased Securities</B>&#148; has the meaning ascribed
thereto under &#147;Manner of Acceptance&nbsp;&#151; Power of
Attorney&#148; in Section&nbsp;3 of the Offer;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Rights Certificate</B>&#148; has the meaning ascribed
thereto under &#147;Shareholder Rights Plan&#148; in
Section&nbsp;20 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Rollover Option</B>&#148; means the option of a
Shareholder to tender Shares to the Offeror on a tax-deferred
rollover basis for purposes of the Tax Act pursuant to an
election under subsection 85(1) or (2)&nbsp;of the Tax Act (or
the corresponding provisions of any applicable provincial tax
legislation), as described in Section&nbsp;22 of the Circular,
&#147;Canadian Federal Income Tax Considerations&#148;, which
option is available to a Shareholder who (a)&nbsp;is an Eligible
Holder, (b)&nbsp;has elected the Share Alternative in the Letter
of Transmittal, and (c)&nbsp;has elected the &#147;Rollover
Option&#148; in the Letter of Transmittal;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>SEC</B>&#148; means the United States Securities and
Exchange Commission;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Separation Time</B>&#148; has the meaning ascribed
thereto under &#147;Shareholder Rights Plan&#148; in
Section&nbsp;20 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Share Alternative</B>&#148; has the meaning ascribed
thereto on the face page of this document;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Shareholder Rights Plan</B>&#148; means the shareholder
rights plan agreement dated as of February&nbsp;26, 2004 entered
into between Placer Dome and the SRP Rights Agent;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Shareholders</B>&#148; means the holders of Shares, and
&#147;<B>Shareholder</B>&#148; means any one of them;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Shares</B>&#148; means the outstanding Placer Dome
Common Shares (including those that are subject to CDIs and
IDRs), together with the associated SRP Rights, and
&#147;<B>Share</B>&#148; means any one Share and its associated
SRP Right;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Soliciting Dealer</B>&#148; has the meaning set out
under &#147;Other Matters Relating to the Offer&nbsp;&#151;
Dealer Managers and Soliciting Dealer Group&#148; in
Section&nbsp;25 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Soliciting Dealer Group</B>&#148; means the group of
Soliciting Dealers;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>SRP Exercise Price</B>&#148; has the meaning ascribed
thereto under &#147;Shareholder Rights Plan&#148; in
Section&nbsp;20 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>SRP Rights</B>&#148; means the rights issued pursuant
to the Shareholder Rights Plan;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>SRP Rights Agent</B>&#148; means CIBC Mellon
Trust&nbsp;Company, the rights agent under the Shareholder
Rights Plan;
</DIV>

<P align="center" style="font-size: 10pt;">17

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Stock Option Plans</B>&#148; means Placer Dome&#146;s
1987 Stock Option Plan and 1993 Directors Stock Option Plan, the
1996 Long Term Equity Incentive Plan of Getchell Gold
Corporation, the obligations of which were assumed by Placer
Dome, and any other plan, agreement or arrangement which
provides for the issuance of options to acquire Shares;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Subsequent Acquisition Transaction</B>&#148; has the
meaning ascribed thereto under &#147;Acquisition of Shares Not
Deposited Pursuant to the Offer&nbsp;&#151; Subsequent
Acquisition Transaction&#148; in Section&nbsp;21 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>subsidiary</B>&#148; has the meaning ascribed thereto
in the OSA;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>take up</B>&#148; in reference to Shares means to
accept such Shares for payment by giving written notice of such
acceptance to the Depositary and &#147;<B>taking up</B>&#148;
and &#147;<B>taken up</B>&#148; have corresponding meanings;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Take-Up Date</B>&#148; means a date upon which Barrick
takes up or acquires Shares pursuant to the Offer. Barrick
reserves the right, to the extent permitted by applicable Law,
to have multiple Take-Up Dates;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Tax Act</B>&#148; means the <I>Income Tax Act
</I>(Canada), including all regulations made thereunder, as
amended;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>taxable capital gain</B>&#148; has the meaning ascribed
thereto under &#147;Canadian Federal Income Tax
Considerations&#148; in Section&nbsp;22 of the Circular;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>TSX</B>&#148; means the Toronto Stock Exchange;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>U.S. Business Day</B>&#148; means any day other than a
Saturday, Sunday or federal holiday in the United States;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>U.S. Exchange Act</B>&#148; means the U.S. Securities
Exchange Act of 1934, as amended;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>U.S. Forwarding Agent</B>&#148; means Mellon Investor
Services LLC;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>U.S. Securities Act</B>&#148; means the U.S. Securities
Act of 1933, as amended;
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>United States</B>&#148; or &#147;<B>U.S.</B>&#148;
means the United States of America, its territories and
possessions, and any State of the United States, as applicable;
and
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Voting Shares</B>&#148; has the meaning ascribed
thereto under &#147;Shareholder Rights Plan&#148; in
Section&nbsp;20 of the Circular.
</DIV>

<P align="center" style="font-size: 10pt;">18

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<DIV align="left" style="font-size: 10pt;">
<A name='103'></A>
</DIV>

<!-- link1 "OFFER" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>OFFER</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>The accompanying Circular, which is incorporated into and
forms part of the Offer, contains important information that
should be read carefully before making a decision with respect
to the Offer.</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Capitalized terms used in the Offer, where not otherwise
defined herein, are defined in the Section entitled
&#147;Definitions&#148;.</I>
</DIV>

<DIV align="right" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>November&nbsp;10, 2005</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>TO: THE SHAREHOLDERS OF PLACER DOME</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='104'></A>
</DIV>

<!-- link1 "1.The Offer" -->

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>1.</B></TD>
    <TD>
    <B>The Offer</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror hereby offers to purchase, on and subject to the
following terms and conditions, all of the outstanding Shares,
which includes Shares that may become outstanding after the date
of the Offer but before the Expiry Time upon conversion,
exchange or exercise of Options or Convertible Debentures or
other securities of Placer Dome that are convertible into or
exchangeable or exercisable for Shares, on the basis of, at the
election of the Shareholder:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    $20.50 in cash for each Share (the &#147;<B>Cash
    Alternative</B>&#148;); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    0.7518 of a Barrick Common Share and $0.05 in cash for each
    Share (the &#147;<B>Share Alternative</B>&#148;),</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
in each case, as elected by the Shareholder in the Letter of
Transmittal, and subject to pro ration as set forth below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Assuming that either all Shareholders tendered to the Cash
Alternative or all Shareholders tendered to the Share
Alternative, each Shareholder would be entitled to receive $2.65
in cash and 0.6562 of a Barrick Common Share for each Share
tendered, subject to adjustment for fractional shares. In light
of the total amount of cash available under the Offer relative
to the size of the Offer, it is unlikely that Shareholders who
elect to receive the Cash Alternative will receive only cash
consideration for their Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Any Shareholder who fails to complete the Letter of
Transmittal and Notice of Guaranteed Delivery, if applicable,
electing the Cash Alternative or who does not properly elect
either the Cash Alternative or the Share Alternative in the
Letter of Transmittal and Notice of Guaranteed Delivery, if
applicable, with respect to any Shares deposited by such
Shareholder pursuant to the Offer will be deemed to have elected
the Share Alternative. The Offer price of $20.50 per Share
represents a premium of approximately 24% over the closing price
of the Shares on the NYSE on October&nbsp;28, 2005, the last
trading day prior to the Offeror&#146;s announcement of its
intention to make the Offer. The Offer price also represents a
premium of approximately 27% over the average trading price of
Shares on the NYSE for the ten trading days immediately
preceding the date of the Offeror&#146;s announcement of its
intention to make the Offer.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is made only for Shares and is not made for any
Options, Convertible Debentures or other rights to acquire
Shares (other than SRP&nbsp;Rights). Any holder of such Options,
Convertible Debentures or other rights to acquire Shares who
wishes to accept the Offer should, to the extent permitted by
the terms of the security and applicable Law, exercise the
Options, convert the Convertible Debentures or otherwise
exercise such rights in order to obtain certificates
representing Shares and deposit those Shares pursuant to the
Offer. Any such exercise or conversion must be completed
sufficiently in advance of the Expiry Time to assure the holder
of such Options, Convertible Debentures or other rights to
acquire Shares that the holder will have certificates
representing the Shares available for deposit before the Expiry
Time, or in sufficient time to comply with the procedures
referred to under &#147;Manner of Acceptance&nbsp;&#151;
Procedure for Guaranteed Delivery&#148; in Section&nbsp;3 of the
Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If any holder of Options does not exercise such Options before
the Expiry Time, such Options will remain outstanding in
accordance with their terms and conditions, including with
respect to term to expiry, vesting and exercise prices, except
that, to the extent permitted, after completion of a Compulsory
Acquisition or Subsequent Acquisition Transaction an Option to
acquire Shares will become an option or right to acquire a
number of Barrick Common Shares, and/ or in some cases an amount
of cash, as determined in accordance with the terms of the
Option.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If any holder of Convertible Debentures does not convert such
Convertible Debentures before the Expiry Time, such Convertible
Debentures will remain outstanding in accordance with their
terms and conditions, including with respect to maturity, except
that, to the extent permitted, after completion of a Compulsory
Acquisition or Subsequent Acquisition Transaction, a Convertible
Debenture may become convertible into a number of Barrick Common
Shares to be determined in accordance with the terms of the
Convertible Debentures.
</DIV>

<P align="center" style="font-size: 10pt;">19

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holders of Shares who have deposited Shares to the Offer will be
deemed to have deposited the SRP Rights associated with such
Shares. No additional payment will be made for the SRP Rights
and no amount of the consideration to be paid by the Offeror
will be allocated to the SRP Rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The maximum amount of cash payable by the Offeror pursuant to
the Offer shall not exceed $2.65 multiplied by the number of
outstanding Shares on a fully diluted basis on the date of the
Offer. Based on the number of Shares outstanding on a fully
diluted basis on October&nbsp;21, 2005 as publicly disclosed by
Placer Dome, the maximum amount of cash payable will be
$1,223,721,097. The maximum number of Barrick Common Shares
issuable by the Offeror pursuant to the Offer shall not exceed
0.6562 multiplied by the number of outstanding Shares on a fully
diluted basis on the date of the Offer. Based on the number of
Shares outstanding on a fully diluted basis on October&nbsp;21,
2005 as publicly disclosed by Placer Dome, the maximum number of
Barrick Common Shares issuable by the Offeror pursuant to the
Offer shall not exceed 303,021,050&nbsp;Barrick Common Shares.
Applicable U.S.&nbsp;securities laws do not permit the Offeror
to have more than one Take-Up Date as a result of pro rationing
of the consideration. The Offeror currently intends to seek such
relief as may be required to permit the Offeror to take&nbsp;up
Shares on more than one Take-Up Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The consideration payable under the Offer will be pro rated on
each Take-Up Date as necessary to ensure that the total
aggregate consideration payable under the Offer and in any
Compulsory Acquisition or Subsequent Acquisition Transaction
does not exceed these maximum aggregate amounts and will be
based on the number of Shares acquired in proportion to the
number of Shares outstanding on a fully diluted basis at the
Take-Up Date. The actual consideration to be received by a
Shareholder will be determined in accordance with the following:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    the aggregate amount of cash (including the minimum of $0.05 in
    cash per Share of cash consideration that will be paid to
    Shareholders who elect (or are deemed to elect) the Share
    Alternative) that the Offeror will pay as consideration for
    Shares acquired in respect of the Cash Alternative and the Share
    Alternative on any Take-Up Date shall not exceed the Maximum
    Take-Up Date Cash Consideration;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    the aggregate number of Barrick Common Shares that the Offeror
    will issue as consideration for Shares acquired in respect of
    the Share Alternative on any Take-Up Date shall not exceed the
    Maximum Take-Up Date Share Consideration;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    if, on any Take-Up Date, the aggregate cash consideration that
    would otherwise be payable by the Offeror to Shareholders who
    elect to receive cash under the Cash Alternative in respect of
    their Shares to be taken up on such Take-Up Date, together with
    the $0.05 in cash per Share to be paid along with Barrick Common
    Shares to Shareholders who elected (or are deemed to have
    elected) the Share Alternative in respect of their Shares to be
    taken up on such Take-Up Date, exceeds the Maximum Take-Up Date
    Cash Consideration, the amount of cash consideration available
    to those Shareholders who have so elected the Cash Alternative
    will be allocated pro rata (on a per share basis) among such
    Shareholders in an amount equal to the aggregate amount of the
    cash sought by each such Shareholder who so elected the Cash
    Alternative multiplied by a fraction, the numerator of which is
    the Maximum Take-Up Date Cash Consideration, less the $0.05 in
    cash per Share to be paid along with Barrick Common Shares to
    Shareholders who elected (or are deemed to have elected) the
    Share Alternative in respect of their Shares to be taken up on
    such Take-Up Date, and the denominator of which is the aggregate
    amount of the cash consideration sought by those Shareholders
    who elected the Cash Alternative in respect of their Shares to
    be taken up on such Take-Up Date, and each such Shareholder will
    receive Barrick Common Shares (or cash in lieu of any fractional
    Barrick Common Share) as consideration for any balance which
    exceeds the amount of cash so allocated to the Shareholder
    (calculated by valuing each Barrick Common Share at $27.20); and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    if, on any Take-Up Date, the number of Barrick Common Shares
    that would otherwise be issuable to Shareholders who elect (or
    are deemed to elect) the Share Alternative in respect of their
    Shares to be taken up on such Take-Up Date exceeds the Maximum
    Take-Up Date Share Consideration, the number of Barrick Common
    Shares available to those Shareholders who have so elected (or
    are deemed to have elected) the Share Alternative will be
    allocated pro rata (on a per share basis) among such
    Shareholders in an amount equal to the number of Barrick Common
    Shares sought by each such Shareholder who so elected (or is
    deemed to have elected) the Share Alternative in respect of its
    Shares to be taken up on such Take-Up Date multiplied by a
    fraction, the numerator of which is the Maximum Take-Up Date
    Share Consideration and the denominator of which is the
    aggregate number of Barrick Common Shares sought by those
    Shareholders who elected (or are deemed to have elected) the
    Share Alternative in respect of their Shares to be taken up on
    such Take-Up Date, rounded down to the nearest whole number, and
    each such Shareholder will receive</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">20

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD align="left">
    cash as consideration for any balance which exceeds the number
    of Barrick Common Shares allocated to the Shareholder
    (calculated by valuing each Barrick Common Share at $27.20).</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For greater certainty, unless a Shareholder receives only cash
consideration for all Shares tendered by the Shareholder, in all
circumstances, including those described in paragraphs
(c)&nbsp;and (d)&nbsp;above, a Shareholder will be deemed to
have received a proportionate amount of cash and Barrick Common
Shares as consideration for each whole Share tendered by such
Shareholder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No fractional Barrick Common Shares will be issued pursuant to
the Offer. Where a Shareholder is to receive Barrick Common
Shares as consideration under the Offer and the aggregate number
of Barrick Common Shares to be issued to such Shareholder would
result in a fraction of a Barrick Common Share being issuable,
the number of Barrick Common Shares to be received by such
Shareholder will either be rounded up (if the fractional
interest is 0.5 or more) or down (if the fractional interest is
less than 0.5) and the amount of cash to be received by such
Shareholder will correspondingly be either decreased or
increased (on the basis of $27.20 per Barrick Common Share),
provided, however, that the number of Barrick Common Shares to
be received by a Shareholder shall be rounded down in all
circumstances where rounding up would result in such Shareholder
receiving less than $0.05 of cash per Share tendered by such
Shareholder. As a result of such rounding and such payments, it
is possible that the actual number of Barrick Common Shares
issued or the actual amount of cash paid in consideration for
Shares, in the aggregate, may exceed the Maximum Share
Consideration or Maximum Cash Consideration, respectively.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Shareholders who are Eligible Holders and who wish to make
the necessary joint tax election with the Offeror to obtain a
full or partial tax-deferred exchange for Canadian federal
income tax purposes must elect the Share Alternative, and must
further elect the Rollover Option in the Letter of Transmittal.
Shareholders who elect the Cash Alternative will not be
permitted to elect the Rollover Option, even if such
Shareholders receive Barrick Common Shares as a result of
pro&nbsp;ration. See &#147;Canadian Federal Income Tax
Considerations&#148; in Section&nbsp;22 of the Circular.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All cash payable under the Offer, including the cash
consideration under the Cash Alternative, the cash consideration
under the Share Alternative and the cash payable in lieu of
fractional Barrick Common Shares otherwise issuable, will be
denominated in U.S.&nbsp;dollars.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='105'></A>
</DIV>

<!-- link1 "2.Time for Acceptance" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>2.</B></TD>
    <TD>
    <B>Time for Acceptance</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is open for acceptance until 8:00&nbsp;p.m. (Toronto
time) on December&nbsp;20, 2005, or until such later time and
date or times and dates to which it may be extended, unless the
Offer is withdrawn by the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='106'></A>
</DIV>

<!-- link1 "3.Manner of Acceptance" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>3.</B></TD>
    <TD>
    <B>Manner of Acceptance</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Letter of Transmittal</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer may be accepted by delivering to the Depositary or the
U.S.&nbsp;Forwarding Agent at any of the offices of the
Depositary or the U.S.&nbsp;Forwarding Agent listed in the
accompanying Letter of Transmittal (printed on yellow paper), so
as to be received before the Expiry Time:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    the certificate or certificates representing the Shares in
    respect of which the Offer is being accepted;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    a Letter of Transmittal in the form accompanying the Offer and
    Circular (or a manually signed facsimile thereof) properly
    completed and duly executed as required by the instructions set
    out in the Letter of Transmittal; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    all other documents required by the instructions set out in the
    Letter of Transmittal.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Participants of CDS or DTC should contact the Depositary with
respect to the deposit of their Shares under the Offer. CDS and
DTC will be issuing instructions to its participants as to the
method of depositing such Shares under the terms of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders will not be required to pay any fee or commission
if they accept the Offer by depositing their Shares directly
with the Depositary or the U.S.&nbsp;Forwarding Agent or if they
make use of the services of a member of the Soliciting Dealer
Group to accept the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Except as otherwise provided in the instructions to the Letter
of Transmittal, the signature on the Letter of Transmittal must
be guaranteed by an Eligible Institution. If a certificate
representing Shares is registered in the name of a person other
than the signatory of a Letter of Transmittal or if the cash
payable and/or certificates for Barrick
</DIV>

<P align="center" style="font-size: 10pt;">21

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<DIV align="left" style="font-size: 10pt;">
Common Shares issuable are to be delivered to a person other
than the registered owner, the certificate(s) must be endorsed
or accompanied by an appropriate power of attorney, in either
case, signed exactly as the name of the registered owner appears
on the certificate with the signature on the certificate or
power of attorney guaranteed by an Eligible Institution.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Eligible Holders who elect the Share Alternative, and who
further elect the Rollover Option in the Letter of Transmittal,
may make a joint tax election with the Offeror for the purpose
of achieving a full or partial tax-deferred exchange for
Canadian federal income tax purposes. See &#147;Canadian Federal
Income Tax Considerations&#148; in Section&nbsp;22 of the
Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Eligible Holders should note that, because of the possibility of
pro ration, Shareholders who elect the Share Alternative may
receive cash consideration in excess of $0.05 per Barrick Common
Share. Consequently, Eligible Holders may not be able to
determine the extent to which the transfer of their Shares may
be made on a tax-deferred basis until they are advised of the
application of the pro ration requirements. A Shareholder could,
as a result of pro ration, receive more cash consideration than
the Shareholder otherwise desires. Depending upon the
circumstances of the particular Eligible Holder, the receipt of
this cash could give rise to a capital gain.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, Shares may be deposited in compliance with the
procedures set forth below under the heading &#147;Procedure for
Guaranteed Delivery&#148; for guaranteed delivery before the
Expiry Time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Unless waived by the Offeror, holders of Placer Dome Common
Shares are required to deposit one SRP Right for each Placer
Dome Common Share in order to effect a valid deposit of such
Share or, if available, a Book-Entry Confirmation must be
received by the Depositary with respect thereto. If the
Separation Time does not occur before the Expiry Time, a deposit
of Placer Dome Common Shares will also constitute a deposit of
the associated SRP Rights. If the Separation Time occurs before
the Expiry Time and Rights Certificates are distributed by
Placer Dome to Shareholders prior to the time that the
holder&#146;s Placer Dome Common Shares are deposited pursuant
to the Offer, in order for the Placer Dome Common Shares to be
validly deposited, Rights Certificate(s) representing SRP Rights
equal in number to the number of Placer Dome Common Shares
deposited must be delivered to the Depositary or the
U.S.&nbsp;Forwarding Agent, as applicable. If the Separation
Time occurs before the Expiry Time and Rights Certificates are
not distributed by the time that a Shareholder deposits its
Placer Dome Common Shares pursuant to the Offer, the Shareholder
may deposit its SRP Rights before receiving Rights
Certificate(s) by using the guaranteed delivery procedure
described below. In any case, a deposit of Placer Dome Common
Shares constitutes an agreement by the signatory to deliver
Rights Certificate(s) representing SRP Rights equal in number to
the number of Placer Dome Common Shares deposited pursuant to
the Offer to the Depositary or the U.S.&nbsp;Forwarding Agent,
as applicable, on or before the third trading day on the TSX
after the date, if any, that Rights Certificate(s) are
distributed. The Offeror reserves the right to require, if the
Separation Time occurs before the Expiry Time, that the
Depositary or the U.S.&nbsp;Forwarding Agent receive, prior to
taking up the Placer Dome Common Shares for payment pursuant to
the Offer, Rights Certificate(s) from a Shareholder representing
SRP Rights equal in number to the Placer Dome Common Shares
deposited by such holder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Signature Guarantees</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No signature guarantee is required on the Letter of Transmittal
if:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    the Letter of Transmittal is signed by the registered owner of
    the Shares exactly as the name of the registered holder appears
    on the Share certificate deposited therewith, and the cash
    payable and/or the certificates for Barrick Common Shares
    issuable, in each case under the Offer, are to be delivered
    directly to such registered holder; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    Shares are deposited for the account of an Eligible Institution.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In all other cases, all signatures on the Letter of Transmittal
must be guaranteed by an Eligible Institution. If a certificate
representing Shares is registered in the name of a person other
than the signatory of a Letter of Transmittal or if the cash
payable and/or certificates for the Barrick Common Shares
issuable are to be delivered to a person other than the
registered owner, the certificate must be endorsed or
accompanied by an appropriate power of attorney, in either case,
signed exactly as the name of the registered owner appears on
the certificate with the signature on the certificate or power
of attorney guaranteed by an Eligible Institution.
</DIV>

<P align="center" style="font-size: 10pt;">22

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Procedure for Guaranteed Delivery</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Shareholder wishes to deposit Shares pursuant to the Offer
and either the certificate(s) representing the Shares are not
immediately available or the Shareholder is not able to deliver
the certificate(s) and all other required documents to the
Depositary before the Expiry Time, those Shares may nevertheless
be deposited pursuant to the Offer, provided that all of the
following conditions are met:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    such deposit is made by or through an Eligible Institution;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    a properly completed and duly executed Notice of Guaranteed
    Delivery (printed on pink paper) in the form accompanying the
    Offer and Circular (or a manually signed facsimile thereof),
    including a guarantee to deliver by an Eligible Institution in
    the form set out in the Notice of Guaranteed Delivery, is
    received by the Depositary before the Expiry Time at its
    Toronto, Ontario office listed on the Notice of Guaranteed
    Delivery;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    the certificate(s) representing all deposited Shares, and, if
    the Separation Time has occurred before the Expiry Time and
    Rights Certificates have been distributed to Shareholders before
    the Expiry Time, the Rights Certificate(s) representing the
    deposited SRP Rights, together with a Letter of Transmittal (or
    a manually signed facsimile thereof), properly completed and
    duly executed with signatures guaranteed if so required in
    accordance with the Letter of Transmittal and all other
    documents required thereby, are received by the Depositary at
    its office in Toronto, Ontario listed in the Letter of
    Transmittal before 5:00&nbsp;p.m. (Toronto time) on the third
    trading day on the TSX after the Expiry Date; and</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    in the case of SRP Rights where the Separation Time has occurred
    before the Expiry Time but Rights Certificates have not been
    distributed to Shareholders before the Expiry Time, the Rights
    Certificate(s) representing the deposited SRP Rights, together
    with a Letter of Transmittal (or a manually signed facsimile
    thereof), properly completed and duly executed with signatures
    guaranteed if so required in accordance with the Letter of
    Transmittal and all other documents required thereby are
    received by the Depositary at its office in Toronto, Ontario
    listed in the Letter of Transmittal before 5:00&nbsp;p.m.
    (Toronto time) on the third trading day on the TSX after Rights
    Certificates are distributed to Shareholders.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Shareholder delivers a Notice of Guaranteed Delivery in
respect of Shares deposited with a subsequent Letter of
Transmittal, the election (or deemed election) made in that
Notice of Guaranteed Delivery as to the consideration to be
received will supersede any election made in such subsequent
Letter of Transmittal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The Notice of Guaranteed Delivery must be delivered by hand
or courier or transmitted by facsimile or mailed to the
Depositary at its office in Toronto, Ontario listed on the
Notice of Guaranteed Delivery and must include a guarantee by an
Eligible Institution in the form set forth in the Notice of
Guaranteed Delivery.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Acceptance by Book-Entry Transfer in the United
States</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders may also accept the Offer in the United States by
following the procedures for book-entry transfer, provided that
confirmation of a book-entry transfer of such Shares (a
&#147;<B>Book-Entry Confirmation</B>&#148;) into the
Depositary&#146;s account at DTC, together with an Agent&#146;s
Message (as defined below) in respect thereof or a properly
completed and executed Letter of Transmittal and any other
required documents, are received by the Depositary at its office
in Toronto, Ontario before the Expiry Time. Any financial
institution that is a participant in DTC&#146;s systems may
cause DTC to make a book-entry transfer of a holder&#146;s
Shares into the Depositary&#146;s account in accordance with
DTC&#146;s procedures for such transfer. However, as noted
above, although delivery of Shares may be effected through
book-entry transfer at DTC, either a Letter of Transmittal (or a
manually signed facsimile thereof), properly completed and duly
executed, together with any required signature guarantees, or an
Agent&#146;s Message in lieu of a Letter of Transmittal, and any
other required documents, must, in any case, be received by the
Depositary at its office in Toronto, Ontario before the Expiry
Time. Delivery of documents to DTC in accordance with its
procedures does not constitute delivery to the Depositary.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The term &#147;<B>Agent&#146;s Message</B>&#148; means a
message, transmitted by DTC to, and received by, the Depositary
and forming part of a Book-Entry Confirmation, which states that
DTC has received an express acknowledgement from the participant
in DTC depositing the Shares which are the subject of such
Book-Entry Confirmation that such participant has received and
agrees to be bound by the terms of the Letter of Transmittal as
if executed by such participant and that the Offeror may enforce
such agreement against such participant.
</DIV>

<P align="center" style="font-size: 10pt;">23

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Currency of Payment</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All cash payable under the Offer, including the cash
consideration under the Cash Alternative, the cash consideration
under the Share Alternative and the cash payable in lieu of
fractional Barrick Common Shares otherwise issuable, will be
denominated in U.S.&nbsp;dollars.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>General</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer will be deemed to be accepted only if the Depositary
or the U.S. Forwarding Agent has received the requisite
documents at or before the time specified. In all cases, payment
for the Shares deposited and taken up by the Offeror pursuant to
the Offer will be made only after timely receipt by the
Depositary or the U.S.&nbsp;Forwarding Agent of certificates
representing the Shares (or Book-Entry Confirmation), a Letter
of Transmittal (or a manually signed facsimile thereof) properly
completed and signed covering the Shares with the signatures
guaranteed in accordance with the instructions set out therein
(or, in the case of Shares deposited by book-entry transfer in
the United States, an Agent&#146;s Message), and any other
required documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The method of delivery of the certificate(s) representing
Shares, the Letter of Transmittal, the Notice of Guaranteed
Delivery and all other required documents is at the option and
risk of the depositing Shareholder. The Offeror recommends that
those documents be delivered by hand to the Depositary or the
U.S.&nbsp;Forwarding Agent and that a receipt be obtained or, if
mailed, that registered mail, properly insured, be used with an
acknowledgement of receipt requested. It is suggested that any
such mailing be made sufficiently in advance of the Expiry Time
to permit delivery to the Depositary or U.S. Forwarding Agent
before the Expiry Time. Delivery will only be effective upon
actual receipt by the Depositary or the U.S.&nbsp;Forwarding
Agent, as applicable.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Shareholders whose Shares are registered in the name of a
stock broker, investment dealer, bank, trust company or other
nominee should contact that nominee for assistance in depositing
their Shares.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>CDI Holders may only accept the Offer through the CDI
Nominee.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Holders of IDRs are invited to contact the Information Agents
for information on whether and how they can participate in the
Offer in respect of the applicable Shares.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All questions as to the validity, form, eligibility (including,
without limitation, timely receipt) and acceptance of Shares
deposited pursuant to the Offer will be determined by the
Offeror in its sole discretion. Depositing Shareholders agree
that such determination shall be final and binding. The Offeror
reserves the absolute right to reject any and all deposits which
it determines not to be in proper form or which may be unlawful
to accept under the Laws of any jurisdiction. The Offeror
reserves the absolute right to waive any defects or
irregularities in the deposit of any Shares. There shall be no
duty or obligation of the Offeror, the Depositary, the U.S.
Forwarding Agent or any other person to give notice of any
defects or irregularities in any deposit and no liability shall
be incurred by any of them for failure to give any such notice.
The Offeror&#146;s interpretation of the terms and conditions of
the Offer and Circular, the Letter of Transmittal, the Notice of
Guaranteed Delivery and any other related documents will be
final and binding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under no circumstances will any amount be paid by the Offeror or
the Depositary by reason of any delay in exchanging any Shares
or in making payments for Shares or in lieu of fractional
Barrick Common Shares to any person on account of Shares
accepted for exchange or payment pursuant to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Dividends and Distributions</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the terms and conditions of the Offer and subject, in
particular, to Shares being validly withdrawn by or on behalf of
a depositing Shareholder, and except as provided below, by
accepting the Offer pursuant to the procedures set forth herein,
a Shareholder deposits, sells, assigns and transfers to the
Offeror all right, title and interest in and to the Shares
covered by the Letter of Transmittal delivered to the Depositary
or the U.S. Forwarding Agent (the &#147;<B>Deposited
Shares</B>&#148;) and in and to all rights and benefits arising
from such Deposited Shares including, without limitation, any
and all dividends, distributions, payments, securities, property
or other interests which may be declared, paid, accrued, issued,
distributed, made or transferred on or in respect of the
Deposited Shares or any of them on and after the date of the
Offer, including any dividends, distributions or payments on
such dividends, distributions, payments, securities, property or
other interests (collectively, &#147;<B>Distributions</B>&#148;).
</DIV>

<P align="center" style="font-size: 10pt;">24

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Power of Attorney</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The execution of a Letter of Transmittal (or, in the case of
Shares deposited by book-entry transfer in the United States, an
Agent&#146;s Message), irrevocably constitutes and appoints,
effective on and after the time (the &#147;<B>Effective
Time</B>&#148;) that the Offeror takes up the Deposited Shares
covered by the Letter of Transmittal (which Shares upon being
taken up are, together with any Distributions thereon,
hereinafter referred to as the &#147;<B>Purchased
Securities</B>&#148;), certain officers of the Offeror and any
other person designated by the Offeror in writing (each an
&#147;<B>Appointee</B>&#148;) as the true and lawful agents,
attorneys and attorneys-in-fact and proxies of the depositing
Shareholder with respect to the Purchased Securities, with full
power of substitution (such power of attorney being deemed to be
an irrevocable power coupled with an interest):
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    to register or record the transfer and/or cancellation of such
    Purchased Securities (to the extent consisting of securities) on
    the appropriate register maintained by Placer Dome or its
    transfer agent;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    for so long as any Purchased Securities are registered or
    recorded in the name of such Shareholder, to exercise any and
    all rights of such Shareholder including, without limitation,
    the right to vote, to execute and deliver any and all
    instruments of proxy, authorizations or consents in form and on
    terms satisfactory to the Offeror in respect of any or all
    Purchased Shares and any Other Property, to revoke any such
    instrument, authorization or consent given prior to or after the
    Effective Time, to designate in such instrument, authorization
    or consent any person or persons as the proxy of such
    Shareholder in respect of the Purchased Securities for all
    purposes including, without limitation, in connection with any
    meeting or meetings (whether annual, special or otherwise, or
    any adjournment thereof, including, without limitation, any
    meeting to consider a Subsequent Acquisition Transaction) of
    holders of relevant securities of Placer Dome;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    to execute, endorse and negotiate, for and in the name of and on
    behalf of such Shareholder, any and all cheques or other
    instruments representing any Distributions payable to or to the
    order of, or endorsed in favour of, such Shareholder; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    to exercise any other rights of a holder of Purchased Securities.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder accepting the Offer agrees not to vote any of the
Purchased Securities at any meeting (whether annual, special or
otherwise, or any adjournments thereof, including, without
limitation, any meeting to consider a Subsequent Acquisition
Transaction) of holders of securities of Placer Dome and not to
exercise any of the other rights or privileges attached to the
Purchased Securities, and agrees to execute and deliver to the
Offeror any and all instruments of proxy, authorizations or
consents in respect of the Purchased Securities, and to appoint
in any such instruments of proxy, authorizations or consents,
the person or persons specified by the Offeror as the proxy of
the holder of the Purchased Securities. <B>Upon such
appointment, all prior proxies and other authorizations
(including, without limitation, all appointments of any agent,
attorney or attorney in fact) or consents given by the holder of
such Purchased Securities with respect thereto will be revoked
and no subsequent proxies or other authorizations or consents
may be given by such person with respect thereto.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Further Assurances</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder accepting the Offer covenants under the terms of
the Letter of Transmittal to execute, upon request of the
Offeror, any additional documents, transfers and other
assurances as may be necessary or desirable to complete the
sale, assignment and transfer of the Purchased Securities to the
Offeror and acknowledges that all authority therein conferred or
agreed to be conferred is, to the extent permitted by Law,
irrevocable and may be exercised during any subsequent legal
incapacity of such holder and shall, to the extent permitted by
Law, survive the death or incapacity, bankruptcy or insolvency
of the holder and all obligations of the holder therein shall be
binding upon the heirs, executors, administrators, attorneys,
personal representatives, successors and assigns of such holder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Formation of Agreement</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The acceptance of the Offer pursuant to the procedures set forth
above constitutes a binding agreement between a depositing
Shareholder and the Offeror, effective immediately following the
time at which the Offeror takes up Shares deposited by such
Shareholder, in accordance with the terms and conditions of the
Offer. This agreement includes a representation and warranty by
the depositing Shareholder that (i)&nbsp;the person signing the
Letter of Transmittal has full power and authority to deposit,
sell, assign and transfer the Deposited Shares and any
Distributions deposited pursuant to the Offer, (ii)&nbsp;the
Deposited Shares and Distributions have not been sold, assigned
or transferred, nor has any agreement been entered into to sell,
assign or transfer any of the Deposited Shares and
Distributions, to any other
</DIV>

<P align="center" style="font-size: 10pt;">25

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
person, (iii)&nbsp;the deposit of the Deposited Shares and
Distributions complies with applicable Laws, and (iv)&nbsp;when
the Deposited Shares and Distributions are taken up and paid for
by the Offeror, the Offeror will acquire good title thereto,
free and clear of all liens, restrictions, charges,
encumbrances, claims and rights of others.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror reserves the right to permit the Offer to be
accepted in a manner other than that set forth in this
Section&nbsp;3.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='107'></A>
</DIV>

<!-- link1 "4.Conditions of the Offer" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>4.</B></TD>
    <TD>
    <B>Conditions of the Offer</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding any other provision of the Offer and subject to
applicable Law, the Offeror will have the right to withdraw the
Offer and not take up, purchase or pay for, and shall have the
right to extend the period of time during which the Offer is
open and postpone taking up and paying for any Shares deposited
pursuant to the Offer, unless all of the following conditions
are satisfied or waived by the Offeror at or before the Expiry
Time:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    there shall have been validly deposited pursuant to the Offer
    and not withdrawn at the Expiry Time that number of Shares which
    constitutes at least
    66<FONT style="font-size: 70%"><SUP>2</SUP></FONT>/<FONT style="font-size: 60%">3</FONT>%
    of the Shares outstanding calculated on a fully diluted basis
    (the &#147;<B>Minimum Deposit Condition</B>&#148;);</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    the Offeror shall have determined in its reasonable discretion
    that, on terms satisfactory to the Offeror: (i)&nbsp;the Board
    of Directors shall have waived the application of the
    Shareholder Rights Plan to the purchase of Shares by the Offeror
    under the Offer, any Compulsory Acquisition and any Subsequent
    Acquisition Transaction; (ii)&nbsp;a cease trade order or an
    injunction shall have been issued that has the effect of
    prohibiting or preventing the exercise of SRP Rights or the
    issue of Placer Dome Common Shares upon the exercise of the SRP
    Rights in relation to the purchase of Shares by the Offeror
    under the Offer, any Compulsory Acquisitions or any Subsequent
    Acquisition Transaction; (iii)&nbsp;a court of competent
    jurisdiction shall have ordered that the SRP Rights are illegal
    or of no force or effect or may not be exercised in relation to
    the Offer, any Compulsory Acquisition or any Subsequent
    Acquisition Transaction; or (iv)&nbsp;the SRP Rights and the
    Shareholder Rights Plan shall otherwise have become or been held
    unexercisable or unenforceable in relation to the Shares with
    respect to the Offer, any Compulsory Acquisition and any
    Subsequent Acquisition Transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    any government or regulatory approvals, waiting or suspensory
    periods (and any extensions thereof), waivers, permits,
    consents, reviews, sanctions, orders, rulings, decisions,
    declarations, certificates and exemptions (including, among
    others, those of any stock exchanges or other securities or
    regulatory authorities) that are, in the Offeror&#146;s
    reasonable discretion, necessary or advisable to complete the
    Offer, any Compulsory Acquisition or any Subsequent Acquisition
    Transaction or the Goldcorp Transaction shall have been
    obtained, received or concluded or, in the case of waiting or
    suspensory periods, expired or been terminated, each on terms
    and conditions satisfactory to the Offeror in its reasonable
    discretion;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    there shall not be in effect or threatened any temporary
    restraining order, preliminary or permanent injunction, cease
    trade order or other order, decree or judgment issued by any
    Governmental Entity or other legal restraint or prohibition
    challenging the Offer or preventing the completion of the Offer
    or the acquisition of Shares under the Offer, or any Compulsory
    Acquisition or Subsequent Acquisition Transaction or the
    Goldcorp Transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(e)</TD>
    <TD align="left">
    no act, action, suit or proceeding shall have been taken or
    threatened or be pending before or by any Governmental Entity or
    by any elected or appointed public official or private person
    (including, without limitation, any individual, company, firm,
    group or other entity), whether or not having the force of Law:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="7%"></TD>
    <TD width="4%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD align="left">
    challenging the Offer or the ability of the Offeror to make or
    maintain the Offer;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(ii)</TD>
    <TD align="left">
    seeking to prohibit, restrict or impose material limitations or
    conditions on: (A)&nbsp;the acquisition by, or sale to, the
    Offeror of any Shares, (B)&nbsp;the take-up or acquisition of
    Shares by the Offeror, (C)&nbsp;the issuance and delivery of
    Barrick Common Shares or the delivery of cash in consideration
    for Shares taken up or acquired by the Offeror, (D)&nbsp;the
    ability of the Offeror to acquire or hold, or exercise full
    rights of ownership of, any Shares, (E)&nbsp;the ownership or
    operation or effective control by the Offeror of any material
    portion of the business or assets of Placer Dome or its
    affiliates or subsidiaries or to compel the Offeror or its
    affiliates or subsidiaries to dispose of or hold separate any
    material portion of the business or assets of Placer Dome or any
    of its affiliates or subsidiaries as a result of the Offer,</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">26

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="7%"></TD>
    <TD width="4%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD align="left">
    or (F)&nbsp;the ability of the Offeror and its affiliates and
    subsidiaries to complete any Compulsory Acquisition or any
    Subsequent Acquisition Transaction or the Goldcorp Transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(iii)</TD>
    <TD align="left">
    seeking to obtain from the Offeror or any of its affiliates or
    subsidiaries or Placer Dome or any of its affiliates or
    subsidiaries any material damages directly or indirectly in
    connection with the Offer;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(iv)</TD>
    <TD align="left">
    which, if successful, in the reasonable discretion of the
    Offeror, would be reasonably likely to result in a Material
    Adverse Effect on Placer Dome or its affiliates or subsidiaries,
    taken as a whole, if the Offer or the Goldcorp Transaction were
    consummated; or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(v)</TD>
    <TD align="left">
    which, if successful, in the reasonable discretion of the
    Offeror, would make uncertain the ability of the Offeror and its
    affiliates and subsidiaries to complete any Compulsory
    Acquisition or any Subsequent Acquisition Transaction or the
    Goldcorp Transaction;</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(f)</TD>
    <TD align="left">
    there shall not be in effect or threatened any temporary
    restraining order, preliminary or permanent injunction, cease
    trade order or other order, decree or judgment issued by any
    Governmental Entity or other legal restraint or prohibition
    challenging the Offer or preventing the completion of the Offer
    or the acquisition of Shares under the Offer, or any Compulsory
    Acquisition or Subsequent Acquisition Transaction or the
    Goldcorp Transaction and there shall not exist any Law, nor
    shall any Law have been proposed, enacted, entered, promulgated
    or applied, nor shall there be in effect, pending or threatened
    any temporary restraining order, preliminary or permanent
    injunction or other order or decree issued by any Governmental
    Entity or other legal restraint or prohibition which would have
    the effect of prohibiting, restricting, making illegal or
    imposing material limitations or conditions on&nbsp;(i)&nbsp;the
    acquisition by, or sale to, the Offeror of any Shares,
    (ii)&nbsp;the take-up or acquisition of Shares by the Offeror,
    (iii)&nbsp;the issuance and delivery of Barrick Common Shares or
    the delivery of cash in consideration for Shares taken up or
    acquired by the Offeror, (iv)&nbsp;the ability of the Offeror to
    acquire or hold, or exercise full rights of ownership of, any
    Shares, (v)&nbsp;the ownership or operation or effective control
    by the Offeror of any material portion of the business or assets
    of Placer Dome or its affiliates or subsidiaries or to compel
    the Offeror or its affiliates or subsidiaries to dispose of or
    hold separate any material portion of the business or assets of
    Placer Dome or any of its affiliates or subsidiaries as a result
    of the Offer, or (vi)&nbsp;the ability of the Offeror and its
    affiliates and subsidiaries to complete any Compulsory
    Acquisition or any Subsequent Acquisition Transaction or the
    Goldcorp Transaction;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(g)</TD>
    <TD align="left">
    the Offeror shall not have become aware of any adverse claims,
    impairments, rights, interests, limitations or other
    restrictions of any kind whatsoever not specifically and
    publicly disclosed by Placer Dome prior to October&nbsp;31,
    2005, being the date of the Offeror&#146;s announcement of its
    intention to make the Offer, in respect of any of Placer
    Dome&#146;s properties or assets, including any mineral rights
    or concessions;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(h)</TD>
    <TD align="left">
    the Offeror shall have determined, in its reasonable discretion,
    that none of the following shall exist or shall have occurred
    (which has not been cured or waived), or is threatened,
    (i)&nbsp;any property, right, franchise, concession, permit or
    licence of Placer Dome or of any of its affiliates or
    subsidiaries has been or may be impaired or otherwise adversely
    affected, whether as a result of the making of the Offer, taking
    up and paying for Shares deposited pursuant to the Offer, the
    completion of a Compulsory Acquisition or Subsequent Acquisition
    Transaction or the Goldcorp Transaction or otherwise, on a basis
    which might reduce the expected economic value to the Offeror of
    the acquisition of Placer Dome or make it inadvisable for the
    Offeror to proceed with the Offer and/or with taking up and
    paying for Shares deposited pursuant to the Offer, or
    (ii)&nbsp;any covenant, term or condition in any of the notes,
    bonds, mortgages, indentures, licences, leases, contracts,
    agreements or other instruments or obligations to which Placer
    Dome or any of its affiliates or subsidiaries is a party or to
    which they or any of their properties or assets are subject that
    might reduce the expected economic value to the Offeror of the
    acquisition of Placer Dome or make it inadvisable for the
    Offeror to proceed with the Offer and/or taking up and paying
    for Shares deposited pursuant to the Offer, and/or completing a
    Compulsory Acquisition or Subsequent Acquisition Transaction or
    the Goldcorp Transaction (including, but not limited to, any
    default, right of termination, acceleration,<I> </I>right of
    first refusal, pre-emptive right, purchase right, loss of
    control or operatorship, pricing change or other event that
    might ensue as a result of the Offeror taking up and paying for
    Shares deposited pursuant to the Offer or completing a
    Compulsory Acquisition or Subsequent Acquisition Transaction or
    the Goldcorp Transaction);</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">27

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD align="left">
    the Offeror shall have determined, in its reasonable discretion,
    that there shall be no change, effect, event, circumstance,
    occurrence or state of facts, pending or threatened, on or after
    October 31, 2005, (being the date of the Offeror&#146;s
    announcement of its intention to make the Offer), that has or
    may have a Material Adverse Effect on Placer Dome and its
    affiliates or subsidiaries, taken as a whole and that the Offer,
    if consummated, shall not trigger a Material Adverse Effect on
    Placer Dome and its affiliates and subsidiaries, taken as a
    whole and the Offeror shall not have become aware of any change,
    effect, event, circumstance, occurrence or state of facts,
    pending or threatened, on or after October&nbsp;31, 2005, that,
    in the reasonable discretion of the Offeror, has had or may have
    a Material Adverse Effect on Placer Dome and its affiliates and
    subsidiaries, taken as a whole;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(j)</TD>
    <TD align="left">
    the Offeror shall have determined, in its reasonable discretion,
    that there shall be no change, effect, event, circumstance,
    occurrence or state of facts, pending or threatened, on or after
    October&nbsp;30, 2005, that has had or would reasonably be
    expected to have a Goldcorp Material Adverse Effect;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(k)</TD>
    <TD align="left">
    the Offeror shall not have become aware of any untrue statement
    of a material fact, or an omission to state a material fact that
    is required to be stated or that is necessary to make a
    statement not misleading in the light of the circumstances in
    which it was made and at the date it was made, in any document
    filed by or on behalf of Placer Dome with any securities
    commission or similar securities regulatory authority in any of
    the provinces of Canada or in the United States or elsewhere,
    including any prospectus, annual information form, financial
    statement, material change report, management proxy circular,
    feasibility study or executive summary thereof, press release or
    any other document so filed by Placer Dome, and Placer Dome
    shall have disclosed all material changes in relation to Placer
    Dome which occurred prior to October&nbsp;31, 2005 in a
    non-confidential material change report filed with the OSC prior
    to October&nbsp;31, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(l)</TD>
    <TD align="left">
    there shall not have occurred or been threatened on or after the
    date of the Offer: (i)&nbsp;any general suspension of trading
    in, or limitation on prices for, securities on the TSX or the
    NYSE; (ii)&nbsp;any extraordinary or material adverse change in
    the financial markets in Canada or the United States;
    (iii)&nbsp;any change in the general political, market, economic
    or financial conditions in any country that could, in the
    reasonable discretion judgment of the Offeror, have a Material
    Adverse Effect on Placer Dome and its affiliates and
    subsidiaries, taken as a whole; (iv)&nbsp;a material change in
    United States, Canadian or Australian currency exchange rates or
    a suspension of, or limitation on, the markets therefor;
    (v)&nbsp;a declaration of a banking moratorium or any suspension
    of payments in respect of banks in Canada, the United States or
    Australia; (vi)&nbsp;any limitation (whether or not mandatory)
    by any Governmental Entity on, or other event that, in the
    reasonable discretion of the Offeror, might affect the extension
    of credit by banks or other lending institutions in Canada or
    the United States; (vii)&nbsp;a commencement of war or armed
    hostilities or other national or international calamity
    involving Canada, the United States, Australia, South Africa,
    Papua New Guinea, Tanzania or Chile; or (viii)&nbsp;in the case
    of any of the foregoing existing at the time of the commencement
    of the Offer, a material acceleration or worsening thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(m)</TD>
    <TD align="left">
    the Offeror shall have determined in its reasonable discretion
    that none of Placer Dome, any of its affiliates or subsidiaries
    or any third party has taken or proposed to take any action or
    has failed to take any action, or disclosed a previously
    undisclosed action or event (in each case other than an action
    or failure to take an action specifically and publicly disclosed
    by Placer Dome prior to October&nbsp;31, 2005), which might
    reduce the expected economic value to the Offeror of the
    acquisition of Placer Dome or make it inadvisable for the
    Offeror to proceed with the Offer and/or with the taking up and
    paying for Shares under the Offer and/or the completion of a
    Compulsory Acquisition or Subsequent Acquisition Transaction
    and/or the Goldcorp Transaction, including, without limiting the
    generality of the foregoing (i)&nbsp;any action or event with
    respect to any agreement, proposal, offer or understanding
    relating to any sale, disposition or other dealing with any of
    the assets of Placer Dome or any of its affiliates or
    subsidiaries (other than any such sale, disposition or other
    dealing between Placer Dome and any affiliate or subsidiary of
    Placer Dome or in the ordinary course of business consistent
    with past practice), any issuance of securities (other than in
    connection with the exercise of Options existing on the date
    hereof, in accordance with their terms as publicly disclosed
    prior to the date hereof) or options or rights to purchase
    securities, the payment of any dividends or other distributions
    or payments (except in the ordinary course of business
    consistent with past practice), any incurrence of material debt
    or project financing or material steps in furtherance of the
    foregoing, any acquisition from a third party of assets (except
    in the ordinary course of business consistent with past</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">28

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD></TD>
    <TD align="left">
    practice) or securities by Placer Dome or any of its affiliates
    or subsidiaries, any reorganization of Placer Dome and its
    affiliates and subsidiaries or any other action or inaction that
    would have the effect of preventing the Offeror from obtaining a
    full tax cost &#147;bump&#148; pursuant to
    paragraph&nbsp;88(1)(d) of the Tax Act in respect of the shares
    of any affiliates or subsidiaries and other non-depreciable
    capital property directly owned by Placer Dome on
    October&nbsp;30, 2005, the date immediately preceding the date
    of the Offeror&#146;s announcement of its intention to make the
    Offer, or any take-over bid (other than the Offer), merger,
    amalgamation, statutory arrangement, recapitalization, business
    combination, share exchange, joint venture or similar
    transaction involving Placer Dome or any of its affiliates or
    subsidiaries or any capital expenditure by Placer Dome or any of
    its affiliates or subsidiaries not in the ordinary course of
    business and consistent with past practice, (ii)&nbsp;adopting,
    establishing or entering into any new employment, change in
    control, severance compensation or similar agreement,
    arrangement or plan with or for one or more of Placer
    Dome&#146;s or its affiliates or subsidiaries&#146; employees,
    consultants or directors, (iii)&nbsp;adopting, establishing or
    entering into, or amending or making grants or awards pursuant
    to, any agreements, arrangements or plans to provide for
    increased benefits to one or more employees, consultants or
    directors of Placer Dome or any of its affiliates or
    subsidiaries, whether or not as a result of or in connection
    with the transactions contemplated by the Offer and Circular,
    (iv)&nbsp;except as may be required by Law, taking any action to
    adopt, establish, terminate or amend any employee benefit plan
    (as defined in Section&nbsp;3(3) of the Employee Retirement
    Income Act of 1974, as amended) of Placer Dome or any of its
    affiliates or subsidiaries, or (v)&nbsp;any proposal, plan or
    intention to do any of the foregoing, either publicly announced
    or communicated by or to Placer Dome, or any agreement to engage
    in any of the foregoing; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(n)</TD>
    <TD align="left">
    the Offeror shall have been provided with, or been given access
    to, in a timely manner, all non-public information relating to
    Placer Dome and its affiliates and subsidiaries, including
    access to management of Placer Dome, as may be given, provided
    or made available by Placer Dome or any of its affiliates or
    subsidiaries at any time on or after October&nbsp;31, 2005 to
    any other potential acquiror considering (or seeking such
    information in order to consider) any take-over bid, merger,
    amalgamation, statutory arrangement, recapitalization, business
    combination, share exchange, joint venture or similar
    transaction involving Placer Dome or any of its affiliates or
    subsidiaries, on substantially the same terms and conditions as
    may be imposed on any such potential acquiror, provided that no
    such term or condition shall be imposed on the Offeror that
    would be inconsistent with or would render the Offeror unable to
    make the Offer or a revised offer or to complete the acquisition
    of the Shares pursuant to the terms of the Offer or a Compulsory
    Acquisition or Subsequent Acquisition Transaction.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The foregoing conditions are for the exclusive benefit of the
Offeror and may be waived by it in whole or in part at any time.
The foregoing conditions may be asserted by the Offeror
regardless of the circumstances giving rise to any such
condition. The failure by the Offeror at any time to exercise
any of the foregoing rights shall not be deemed a waiver of any
such right and each such right shall be deemed to be an ongoing
right that may be asserted at any time and from time to time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any waiver of a condition or the termination or withdrawal of
the Offer shall be deemed to have been given and to be effective
on the day on which it is delivered or otherwise communicated in
writing to the Depositary at its principal office in Toronto,
Ontario. The Offeror, forthwith after giving any such notice,
will make a public announcement of such waiver or withdrawal
and, to the extent required by applicable Law, cause the
Depositary as soon as is practicable thereafter to notify the
registered holders of Shares in the manner set forth under
&#147;Notice and Delivery&#148; in Section&nbsp;11 of the Offer.
If the Offer is withdrawn, the Offeror shall not be obligated to
take up, accept for payment or pay for any Shares deposited
pursuant to the Offer, and each of the Depositary and the U.S.
Forwarding Agent will promptly return all certificates for
deposited Shares and Letters of Transmittal, Notices of
Guaranteed Delivery and related documents in its possession to
the parties by whom they were deposited.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='108'></A>
</DIV>

<!-- link1 "5.Extension, Variation or Change in the Offer" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>5.</B></TD>
    <TD>
    <B>Extension, Variation or Change in the Offer</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is open for acceptance until the Expiry Time, unless
the Offer is withdrawn or is extended by the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject as hereinafter described, the Offeror may, in its sole
discretion, at any time and from time to time, extend the Expiry
Date or the Expiry Time or vary the Offer by giving written
notice (or other communication subsequently confirmed in
writing) of such extension or variation to the Depositary at its
principal office in Toronto, Ontario. Upon
</DIV>

<P align="center" style="font-size: 10pt;">29

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
the giving of such notice or other communication extending the
Expiry Date or the Expiry Time, the Expiry Date or the Expiry
Time, as applicable, shall be, and be deemed to be, so extended.
Where required by Law, the Offeror, as soon as practicable
thereafter, will cause the Depositary to provide a copy of the
notice, in the manner set forth under &#147;Notice and
Delivery&#148; in Section&nbsp;11 of the Offer, to all
registered holders of Shares whose Shares have not been taken up
before the date of the extension or variation. The Offeror
shall, as soon as practicable after giving notice of an
extension or variation to the Depositary, make a public
announcement of the extension or variation to the extent and in
the manner required by applicable Law. Such announcement will be
made promptly, in the case of a variation, and in the case of an
extension, no later than the earlier of (i)&nbsp;9:00&nbsp;a.m.
(Toronto time) on the next U.S.&nbsp;Business Day after the
previously scheduled Expiry Date, or (ii)&nbsp;the first opening
of the NYSE on the next trading day after the previously
scheduled Expiry Date. Any notice of extension or variation will
be deemed to have been given and to be effective on the day on
which it is delivered or otherwise communicated to the
Depositary at its principal office in Toronto, Ontario.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Where the terms of the Offer are varied, the Offer Period will
not expire before ten days after the notice of change or
variation has been given to Shareholders, unless otherwise
permitted by applicable Law and subject to abridgement or
elimination of the Offer Period pursuant to such orders or other
forms of relief as may be granted by any Governmental Entities.
Notwithstanding the foregoing, if prior to the Expiry Time, the
Offeror changes the consideration offered pursuant to the Offer,
reduces the percentage of the Shares sought or increases or
decreases a dealer&#146;s soliciting fee, and if the Offer is
scheduled to expire at any time earlier than the tenth
U.S.&nbsp;Business Day from the date that notice of such change
or variation is first published, mailed or given to
Shareholders, the Offer will be extended at least until the
expiration of such tenth U.S. Business Day.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If, before the Expiry Time, or after the Expiry Time but before
the expiry of all rights of withdrawal with respect to the
Offer, a change occurs in the information contained in the Offer
and Circular, as amended from time to time, that would
reasonably be expected to affect the decision of a Shareholder
to accept or reject the Offer (other than a change that is not
within the control of the Offeror or its affiliates unless it is
a change in a material fact relating to the Barrick Common
Shares), the Offeror will give written notice of such change to
the Depositary at its principal office in Toronto, Ontario and
will cause the Depositary to provide as soon as practicable
thereafter a copy of such notice in the manner set forth under
&#147;Notice and Delivery&#148; in Section&nbsp;11 of the Offer,
to all registered holders of Shares whose Shares have not been
taken up under the Offer at the date of the occurrence of the
change, if required by applicable Law. As soon as possible after
giving notice of a change in information to the Depositary, the
Offeror will make a public announcement and dissemination of the
change in information to the extent and in the manner required
by applicable Law and extend the Offer to the extent required by
applicable Law. Any notice of change in information will be
deemed to have been given and to be effective on the day on
which it is delivered or otherwise communicated in writing to
the Depositary at its principal office in Toronto, Ontario.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding the foregoing but subject to applicable Law, the
Offer may not be extended by the Offeror if all of the terms and
conditions of the Offer (other than those waived by the Offeror)
have been satisfied or complied with, unless the Offeror first
takes up all Shares then deposited under the Offer and not
withdrawn.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
During any such extension, or in the event of any variation or
change in information, all Shares previously deposited and not
taken up or withdrawn will remain subject to the Offer and may
be accepted for purchase by the Offeror in accordance with the
terms hereof, subject to the provisions set out under
&#147;Right to Withdraw Deposited Shares&#148; in Section&nbsp;7
of the Offer. An extension of the Expiry Time, a variation of
the Offer or a change in information does not, unless otherwise
expressly stated, constitute a waiver by the Offeror of any of
its rights set out under &#147;Conditions of the Offer&#148; in
Section&nbsp;4 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If, before the Expiry Time, the consideration being offered for
the Shares under the Offer is increased, such increased
consideration will be paid to all depositing Shareholders whose
Shares are taken up under the Offer, whether or not such Shares
were taken up before the increase.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='109'></A>
</DIV>

<!-- link1 "6.Take up of and Payment for Deposited Shares" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>6.</B></TD>
    <TD>
    <B>Take up of and Payment for Deposited Shares</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If all the conditions referred to under &#147;Conditions of the
Offer&#148; in Section&nbsp;4 of the Offer have been satisfied
or waived at or before the Expiry Time, the Offeror will become
obligated to take up Shares validly deposited under the Offer
and not properly withdrawn promptly following the Expiry Time,
but in any event not later than ten days after the Expiry Date.
The Offeror will be obligated to promptly pay for the Shares so
taken up, but in any event not later than the earlier of
(a)&nbsp;the tenth day after the Expiry Time, and (b)&nbsp;three
Business Days after taking up such Shares. Any
</DIV>

<P align="center" style="font-size: 10pt;">30

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<DIV align="left" style="font-size: 10pt;">
Shares deposited to the Offer after the first date on which
Shares have been taken up by the Offeror but before the Expiry
Date will be taken up and paid for promptly, and in any event
within ten days of such deposit.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For the purposes of the Offer, the Offeror will be deemed to
have taken up and accepted for payment Shares validly deposited
and not withdrawn pursuant to the Offer if, as and when the
Offeror gives written notice or other communication subsequently
confirmed in writing to the Depositary at its office in Toronto,
Ontario to that effect. The Offeror expressly reserves the right
in its sole discretion to delay or otherwise refrain from taking
up and paying for any Shares or to terminate the Offer and not
take up or pay for any Shares pursuant to the Offer if any
condition specified under &#147;Conditions of the Offer&#148; in
Section&nbsp;4 of the Offer is not satisfied or waived, by
giving written notice thereof or other communication
subsequently confirmed in writing to the Depositary at its
office in Toronto, Ontario.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror also expressly reserves the right, in its sole
discretion, to delay taking up and paying for Shares in order to
comply, in whole or in part, with any applicable government
regulatory approval. The ability of the Offeror to delay the
payment for Shares that the Offeror has taken up may be limited
by applicable Law. The Offeror will pay for Shares validly
deposited pursuant to the Offer and not withdrawn by providing
the Depositary with sufficient funds (by bank transfer or other
means satisfactory to the Depositary) for transmittal to
depositing Shareholders and by providing the Depositary with
sufficient share certificates representing the Barrick Common
Shares for transmittal to depositing Shareholders, subject to
the maximum amounts. Under no circumstances will interest accrue
or be paid by the Offeror or the Depositary to persons
depositing Shares on the purchase price of Shares purchased by
the Offeror, regardless of any delay in making such payment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Depositary will act as the agent of persons who have
deposited Shares in acceptance of the Offer for the purposes of
receiving payment from the Offeror and transmitting payment to
such persons, and receipt of payment by the Depositary will be
deemed to constitute receipt of payment by persons depositing
Shares. Settlement with each Shareholder who has deposited
Shares pursuant to the Offer will be made by the Depositary
forwarding a cheque representing the cash and/or a share
certificate representing the Barrick Common Shares to which the
depositing Shareholder is entitled.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Cheques will be payable in U.S. funds. Unless otherwise directed
in the Letter of Transmittal, cheques and/or share certificates
will be issued in the name of the registered holder of the
Shares so deposited. Unless the person depositing the Shares
instructs the Depositary to hold the cheque and/or share
certificates for pick-up by checking the appropriate box in the
Letter of Transmittal, such cheque and/or share certificates
will be forwarded by first class insured mail to such person at
the address specified in the Letter of Transmittal. If no such
address is specified, the cheque and/or share certificates will
be sent to the address of the holder as shown on the Share
register maintained by Placer Dome or its transfer agent.
Cheques and/or share certificates mailed in accordance with this
paragraph will be deemed to be delivered at the time of mailing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Shareholders will not be required to pay any fee or
commission if they accept the Offer by depositing their Shares
directly with the Depositary or the U.S. Forwarding Agent or if
they make use of the services of a member of the Soliciting
Dealer Group to accept the Offer.</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='110'></A>
</DIV>

<!-- link1 "7.Right to Withdraw Deposited Shares" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>7.</B></TD>
    <TD>
    <B>Right to Withdraw Deposited Shares</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Except as otherwise provided in this Section&nbsp;7 of the
Offer, all deposits of Shares pursuant to the Offer are
irrevocable. Unless otherwise required or permitted by
applicable Law, any Shares deposited in acceptance of the Offer
may be withdrawn at the place of deposit by or on behalf of the
depositing Shareholder:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    at any time when the Shares have not been taken up by the
    Offeror;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    if the Shares have not been paid for by the Offeror within three
    Business Days after having been taken up;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    at any time before the expiration of ten days from the date upon
    which either:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="7%"></TD>
    <TD width="4%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD align="left">
    a notice of change relating to a change which has occurred in
    the information contained in the Offer and Circular, as amended
    from time to time, that would reasonably be expected to affect
    the decision of a Shareholder to accept or reject the Offer
    (other than a change that is not within the control of the
    Offeror or its affiliates unless it is a change in a material
    fact relating to the Barrick Common Shares), in the event that
    such change occurs before the Expiry Time or after the Expiry
    Time but before the expiry of all rights of withdrawal in
    respect of the Offer; or</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">31

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="7%"></TD>
    <TD width="4%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(ii)</TD>
    <TD align="left">
    a notice of variation concerning a variation in the terms of the
    Offer (other than a variation consisting solely of an increase
    in the consideration offered for the Shares where the Expiry
    Time is not extended for more than ten days),</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    is mailed, delivered or otherwise properly communicated (subject
    to abridgement of that period pursuant to such order or orders
    as may be granted by applicable courts or securities regulatory
    authorities) and only if such deposited Shares have not been
    taken up by the Offeror at the date of the notice; or</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    at any time after 60 days from the commencement of the Offer,
    provided that the Shares have not been accepted for payment by
    the Offeror prior to the receipt by the Depositary of the notice
    of withdrawal in respect of such Shares.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Withdrawals of Shares deposited pursuant to the Offer must be
effected by notice of withdrawal made by or on behalf of the
depositing Shareholder and must be actually received by the
Depositary or the U.S. Forwarding Agent at the place of deposit
within the time limits indicated above. Notices of withdrawal:
(i)&nbsp;must be made by a method, including a manually signed
facsimile transmission, that provides the Depositary or the U.S.
Forwarding Agent, as applicable, with a written or printed copy;
(ii)&nbsp;must be signed by or on behalf of the person who
signed the Letter of Transmittal accompanying (or Notice of
Guaranteed Delivery in respect of) the Shares which are to be
withdrawn; (iii)&nbsp;must specify such person&#146;s name, the
number of Shares to be withdrawn, the name of the registered
holder and the certificate number shown on each certificate
representing the applicable Shares to be withdrawn; and
(iv)&nbsp;must be actually received by the Depositary or the
U.S. Forwarding Agent at the place of deposit of the applicable
Shares (or Notice of Guaranteed Delivery in respect thereof).
Any signature in a notice of withdrawal must be guaranteed by an
Eligible Institution in the same manner as in a Letter of
Transmittal (as described in the instructions set out therein),
except in the case of Shares deposited for the account of an
Eligible Institution. The withdrawal will take effect upon
actual physical receipt by the Depositary or the
U.S.&nbsp;Forwarding Agent of the properly completed and signed
written notice of withdrawal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Alternatively, if Shares have been deposited pursuant to the
procedures for book-entry transfer in the United States, as set
forth in &#147;Manner of Acceptance&nbsp;&#151; Acceptance by
Book-Entry Transfer in the United States&#148; in Section&nbsp;3
of the Offer, any notice of withdrawal must specify the name and
number of the account at DTC to be credited with the withdrawn
Shares and otherwise comply with DTC&#146;s procedures.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>A withdrawal of Shares deposited pursuant to the Offer can
only be accomplished in accordance with the foregoing procedure.
The withdrawal will take effect only upon actual receipt by the
Depositary or U.S.&nbsp;Forwarding Agent, as applicable, of the
properly completed and executed written notice of withdrawal.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All questions as to the validity (including, without limitation,
timely receipt) and form of notices of withdrawal will be
determined by the Offeror in its sole discretion, and such
determination will be final and binding. There will be no
obligation on the Offeror, the Depositary, the U.S. Forwarding
Agent or any other person to give any notice of any defects or
irregularities in any withdrawal and no liability will be
incurred by any of them for failure to give any such notice.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Withdrawals cannot be rescinded and any Shares withdrawn will
thereafter be deemed to be not validly deposited for the
purposes of the Offer. However, withdrawn Shares may be
redeposited subsequently before the Expiry Time by following the
procedures described under &#147;Manner of Acceptance&#148; in
Section&nbsp;3 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Offeror extends the period of time during which the Offer
is open, is delayed in taking up the Shares or is unable to take
up Shares for any reason, then, without prejudice to the
Offeror&#146;s other rights under the Offer, the Depositary may,
subject to applicable Law, retain on behalf of the Offeror all
Deposited Shares and Distributions, and such Shares may not be
withdrawn except to the extent that depositing Shareholders are
entitled to withdrawal rights as set forth in this Section or
pursuant to applicable Law.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to the foregoing rights of withdrawal, Shareholders
in certain provinces of Canada are entitled to statutory rights
of rescission in certain circumstances. See &#147;Offerees&#146;
Statutory Rights&#148; in Section&nbsp;27 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='111'></A>
</DIV>

<!-- link1 "8.Return of Deposited Shares" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>8.</B></TD>
    <TD>
    <B>Return of Deposited Shares</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If any Deposited Shares are not taken up and paid for pursuant
to the terms and conditions of the Offer for any reason, or if
certificates are submitted for more Shares than are deposited,
certificates for unpurchased Shares will be returned to the
depositing Shareholder as soon as is practicable following the
termination or withdrawal of the Offer by either
(i)&nbsp;sending new certificates representing Shares not
purchased or by returning the deposited certificates (and
</DIV>

<P align="center" style="font-size: 10pt;">32

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<DIV align="left" style="font-size: 10pt;">
other relevant documents) or (ii)&nbsp;in the case of Shares
deposited by book-entry transfer of such Shares into the
Depositary&#146;s account at DTC pursuant to the procedures set
forth in &#147;Manner of Acceptance&nbsp;&#151; Acceptance by
Book-Entry Transfer in the United States&#148; in Section&nbsp;3
of the Offer, such Shares will be credited to the depositing
holder&#146;s account maintained with DTC. Certificates (and
other relevant documents) will be forwarded by first-class mail
in the name of and to the address specified by the Shareholder
in the Letter of Transmittal or, if such name or address is not
so specified, in such name and to such address as shown on the
share register maintained by Placer Dome or its transfer agent,
as soon as practicable after the termination of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='112'></A>
</DIV>

<!-- link1 "9.Mail Service Interruption" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>9.</B></TD>
    <TD>
    <B>Mail Service Interruption</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Notwithstanding the provisions of the Offer and Circular, the
Letter of Transmittal or the Notice of Guaranteed Delivery,
cheques and any other relevant documents will not be mailed if
the Offeror determines that delivery thereof by mail may be
delayed. Persons entitled to cheques and any other relevant
documents that are not mailed for the foregoing reason may take
delivery thereof at the office of the Depositary to which the
Shares were deposited until such time as the Offeror has
determined that delivery by mail will no longer be delayed.
Notwithstanding the provisions set out under &#147;Take&nbsp;up
of and Payment for Deposited Shares&#148; in Section&nbsp;6 of
the Offer, cheques, share certificates and any other relevant
documents not mailed for the foregoing reason will be
conclusively deemed to have been delivered upon being made
available for delivery to the depositing Shareholder at the
appropriate office of the Depositary. Notice of any
determination regarding mail service delay or interruption made
by the Offeror will be given in accordance with the provisions
set out under &#147;Notice and Delivery&#148; in Section&nbsp;11
of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='113'></A>
</DIV>

<!-- link1 "10.Changes in Capitalization, Dividends and Distributions" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>10.</B></TD>
    <TD>
    <B>Changes in Capitalization, Dividends and Distributions</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If, on or after the date of the Offer, Placer Dome should
divide, combine, reclassify, consolidate, convert or otherwise
change any of the Shares or its capitalization, or disclose that
it has taken or intends to take any such action, the Offeror, in
its sole discretion and without prejudice to its rights under
&#147;Conditions of the Offer&#148; in Section&nbsp;4 of the
Offer, may make such adjustments as it considers appropriate to
the purchase price and the other terms of the Offer (including,
without limitation, the type of securities offered to be
purchased and the consideration payable therefor) to reflect
that division, combination, reclassification, consolidation,
conversion or other change. See &#147;Extension, Variation or
Change in the Offer&#148; in Section&nbsp;5 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shares acquired pursuant to the Offer shall be transferred by
the Shareholder and acquired by the Offeror free and clear of
all liens, charges, encumbrances, claims, equities and rights of
others and together with all rights and benefits arising
therefrom, including, without limitation, the right to any and
all dividends, distributions, payments, securities, property,
rights (including SRP Rights), assets or other interests which
may be accrued, declared, paid, issued, distributed, made or
transferred on or after the date of the Offer on or in respect
of the Shares, whether or not separated from the Shares, but
subject to any Shares being validly withdrawn by or on behalf of
a depositing Shareholder. If, on or after the date of the Offer,
Placer Dome should declare, set aside or pay any dividend or
declare, make or pay any other distribution or payment on, or
declare, allot, reserve or issue any securities, rights or other
interests with respect to any Share which is or are payable or
distributable to Shareholders on a record date that is prior to
the date of transfer into the name of the Offeror or its nominee
or transferee on the register of Shareholders maintained by
Placer Dome or its transfer agent of such Share following
acceptance thereof for purchase pursuant to the Offer, then (and
without prejudice to its rights under &#147;Conditions of the
Offer&#148; in Section&nbsp;4 of the Offer): (i)&nbsp;in the
case of any such cash dividend, distribution or payment that
does not exceed the cash consideration greater than $0.05 per
Share, the cash consideration per Share payable by the Offeror
pursuant to the Offer will be reduced by the amount of any such
dividend, distribution or payment, and (ii)&nbsp;in the case of
any such cash dividend, distribution or payment that exceeds the
cash consideration greater than $0.05 per Share, or in the case
of any other dividend, distribution, payment, right or other
interest, the whole of any such dividend, distribution, payment,
right or other interest, will be received and held by the
depositing Shareholder for the account of the Offeror and will
be promptly remitted and transferred by the depositing
Shareholder to the Depositary for the account of the Offeror,
accompanied by appropriate documentation of transfer. Pending
such remittance, the Offeror will be entitled to all rights and
privileges as the owner of any such dividend, distribution,
payment, right or other interest and may withhold the entire
amount of cash and share consideration payable by the Offeror
pursuant to the Offer or deduct from the cash and share
consideration payable by the Offeror pursuant to the Offer the
amount or value thereof, as determined by the Offeror in its
sole discretion. For greater certainty, except as permitted in
the prior sentence, under no circumstances will a Shareholder
receive less than
</DIV>

<P align="center" style="font-size: 10pt;">33

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<DIV align="left" style="font-size: 10pt;">
$0.05 per Share of cash consideration. The declaration or
payment of any such dividend or distribution may have tax
consequences not discussed under &#147;Canadian Federal Income
Tax Considerations&#148; in Section&nbsp;22 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='114'></A>
</DIV>

<!-- link1 "11.Notice and Delivery" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>11.</B></TD>
    <TD>
    <B>Notice and Delivery</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Without limiting any other lawful means of giving notice and
unless otherwise specified by applicable Laws, any notice that
the Offeror or the Depositary may give or cause to be given
under the Offer will be deemed to have been properly given if it
is mailed by first class mail, postage prepaid to the registered
holders of Shares at their respective addresses appearing in the
share register maintained by Placer Dome or its transfer agent
and, unless otherwise specified by applicable Law, will be
deemed to have been delivered and received on the date of
mailing. These provisions apply notwithstanding any accidental
omission to give notice to any one or more Shareholders and
notwithstanding any interruption of mail services in Canada or
the United States following mailing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Except as otherwise permitted by applicable Law, if mail service
is interrupted or delayed following mailing, the Offeror intends
to make reasonable efforts to disseminate the notice by other
means, such as publication. Subject to applicable Law, if post
offices in Canada or the United States are not open for the
deposit of mail, any notice which the Offeror or the Depositary
may give or cause to be given under the Offer will be deemed to
have been properly given and to have been received by
Shareholders if (a)&nbsp;it is given to the TSX or the NYSE for
dissemination through their facilities; (b)&nbsp;it is published
once in the National Edition of The Globe and Mail or The
National Post, together with either The New York Times or The
Wall Street Journal, and in a daily newspaper of general
circulation in the French language in the City of Montr&#233;al,
Qu&#233;bec; or (c)&nbsp;is given to the Canada News Wire
Service and the Dow Jones News Service for dissemination through
its facilities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer and Circular and the Letter of Transmittal and Notice
of Guaranteed Delivery will be mailed to registered holders of
Shares by first class mail, postage prepaid or made in such
other manner as is permitted by applicable regulatory
authorities and the Offeror will use its reasonable efforts to
furnish such documents to brokers, investment advisors, banks
and similar persons whose names, or the names of whose nominees,
appear in the register maintained by or on behalf of Placer Dome
in respect of the Shares or, if security position listings are
available, who are listed as participants in a clearing
agency&#146;s security position listing, for subsequent
transmittal to the beneficial owners of Shares when such
listings are received.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Wherever the Offer calls for documents to be delivered to the
Depositary or the U.S. Forwarding Agent, those documents will
not be considered delivered unless and until they have been
physically received at one of the addresses listed for the
Depositary or the U.S. Forwarding Agent in the Letter of
Transmittal or at the address of the Depositary in Toronto,
Ontario listed in the Notice of Guaranteed Delivery, as
applicable. Wherever the Offer calls for documents to be
delivered to a particular office of the Depositary or the U.S.
Forwarding Agent, those documents will not be considered
delivered unless and until they have been physically received at
the particular office at the address listed in the Letter of
Transmittal or Notice of Guaranteed Delivery, as applicable.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='116'></A>
</DIV>

<!-- link1 "12.Market Purchases" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>12.</B></TD>
    <TD>
    <B>Market Purchases</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Other than pursuant to the Offer, the Offeror will not purchase
Shares at any time at or before the Expiry Time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Although the Offeror has no present intention to sell Shares
taken up and paid for under the Offer, it reserves the right to
make or to enter into an arrangement, commitment or
understanding at or before the Expiry Time to sell any of such
Shares after the Expiry Time.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='117'></A>
</DIV>

<!-- link1 "13.Other Terms of the Offer" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>13.</B></TD>
    <TD>
    <B>Other Terms of the Offer</B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    No broker, dealer or other person has been authorized to give
    any information or make any representation on behalf of the
    Offeror or its affiliates other than as contained herein or in
    the accompanying Circular, and if any such information is given
    or made it must not be relied upon as having been authorized.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    The Offer and all contracts resulting from the acceptance hereof
    shall be governed by, and construed in accordance with, the Laws
    of the Province of Ontario and the Laws of Canada applicable
    therein. Each party to a contract resulting from an acceptance
    of the Offer unconditionally and irrevocably attorns to the
    jurisdiction of the courts of the Province of Ontario.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    In any jurisdiction in which the Offer is required to be made by
    a licensed broker or dealer, the Offer shall be made on behalf
    of the Offeror by brokers or dealers licensed under the Laws of
    such jurisdiction.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">34

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    The provisions of the Offer and Circular, the Letter of
    Transmittal and the Notice of Guaranteed Delivery accompanying
    the Offer, including the instructions contained therein, as
    applicable, form part of the terms and conditions of the Offer.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(e)</TD>
    <TD align="left">
    The Offeror, in its sole discretion, will be entitled to make a
    final and binding determination of all questions relating to the
    interpretation of the terms and conditions of the Offer
    (including, without limitation, the satisfaction of the
    conditions of the Offer), the Circular, the Letter of
    Transmittal and the Notice of Guaranteed Delivery, the validity
    of any acceptance of the Offer and the validity of any
    withdrawals of Shares.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(f)</TD>
    <TD align="left">
    The Offeror reserves the right to transfer to one or more
    affiliates of the Offeror the right to purchase all or any
    portion of the Shares deposited pursuant to the Offer but any
    such transfer will not relieve the Offeror of its obligations
    under the Offer and in no way will prejudice the rights of
    persons depositing Shares to receive payment for Shares validly
    deposited and accepted for payment pursuant to the Offer.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(g)</TD>
    <TD align="left">
    The Offer is not being made to, nor will deposits be accepted
    from or on behalf of, Shareholders residing in any jurisdiction
    in which the making of the Offer or the acceptance thereof would
    not be in compliance with the Laws of such jurisdiction. The
    Offeror may, in its sole discretion, take such action as it may
    deem necessary to make the Offer in any jurisdiction and extend
    the Offer to Shareholders in any such jurisdiction.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer and the accompanying Circular together constitute the
take-over bid circular required under Canadian securities
legislation with respect to the Offer. Shareholders are urged to
refer to the accompanying Circular for additional information
relating to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Dated: November&nbsp;10, 2005
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <B>BARRICK GOLD CORPORATION</B></TD>
</TR>

<TR>
    <TD style="font-size: 12pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <IMG src="t18587ft1844302.gif" alt="-s- Gregory C. Wilkins"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <FONT style="font-variant:SMALL-CAPS">Gregory C. Wilkins
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    President and Chief Executive Officer</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">35
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<DIV align="left" style="font-size: 10pt;">
<A name='118'></A>
</DIV>

<!-- link1 "CIRCULAR" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>CIRCULAR</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Circular is furnished in connection with the accompanying
Offer dated November&nbsp;10, 2005 by the Offeror to purchase
the outstanding Shares, including Shares that may become
outstanding after the date of the Offer but before the Expiry
Time upon conversion, exchange or exercise of Options,
Convertible Debentures or other securities of Placer Dome that
are convertible into or exchangeable or exercisable for Shares.
Shareholders should refer to the Offer for details of its terms
and conditions, including details as to payment and withdrawal
rights. The terms and provisions of the Offer, the Letter of
Transmittal, the Notice of Guaranteed Delivery and the Schedules
are incorporated into and form part of the Circular. Capitalized
terms used in the Circular, where not otherwise defined herein,
are defined in the Section entitled &#147;Definitions&#148;,
unless the context otherwise requires.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The information concerning Placer Dome contained in the Offer
and Circular has been taken from or is based upon publicly
available documents or records of Placer Dome on file with
Canadian securities regulatory authorities and other public
sources at the time of the Offer. Although the Offeror has no
knowledge that would indicate that any statements contained
herein relating to Placer Dome taken from or based upon such
documents and records are untrue or incomplete, neither the
Offeror nor any of its officers or directors assumes any
responsibility for the accuracy or completeness of the
information relating to Placer Dome taken from or based upon
such documents and records, or for any failure by Placer Dome to
disclose events that may have occurred or may affect the
significance or accuracy of any such information but that are
unknown to the Offeror. Unless otherwise indicated, information
concerning Placer Dome is given as at November&nbsp;8, 2005.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='119'></A>
</DIV>

<!-- link1 "1.The Offeror" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>1.</B></TD>
    <TD>
    <B>The Offeror</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror is a leading international gold mining company, with
a portfolio of operating mines and projects located in the
United States, Canada, Australia, Peru, Chile, Argentina and
Tanzania. In 2004, the Offeror&#146;s 12 operating mines
produced approximately 5&nbsp;million ounces of gold, at a total
cash cost of $212 per
ounce,<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
the lowest total cash cost per ounce of all senior gold
producers. For the nine months ended September&nbsp;30, 2005,
the Offeror&#146;s share of gold production from its mines was
3.8&nbsp;million ounces, and total cash costs were $229 per
ounce.<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
For 2005, the Offeror expects gold production to be between 5.4
to 5.5&nbsp;million ounces at an average total cash cost of
about $225 per ounce, but remains subject to cost pressures
affecting the entire industry. The Offeror increased its
reserves by over 3&nbsp;million ounces during 2004, with proven
and probable gold mineral reserves of 89&nbsp;million ounces as
at December&nbsp;31,
2004.<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to its 12&nbsp;operating mines, the Offeror
completed the construction of the Tulawaka, Lagunas Norte and
Veladero mines in 2005. The Tulawaka and Lagunas Norte mines
poured their first gold in March and June 2005, respectively,
and are now in full commercial production. The Veladero mine
poured its first gold in September 2005 and is currently in the
commissioning process, which includes testing, evaluation and
any necessary adjustment of the heap leach pad and/or process
facilities to ensure operation in accordance with design
parameters. The Cowal mine is on track to commence commissioning
in the first quarter of 2006. The Offeror also has four other
projects at various stages in its development pipeline. The
Offeror is targeting an increase in its gold production to about
6.8&nbsp;million ounces in 2007. The Offeror is also actively
exploring approximately 100&nbsp;projects in 16&nbsp;countries.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror&#146;s shares are listed on the NYSE and the TSX
under the symbol &#147;ABX&#148;. The Offeror&#146;s shares also
trade on the London Stock Exchange, the SWX Swiss Exchange and
Euronext-Paris. The Offeror is an OBCA
</DIV>

<DIV align="left" style="font-size: 3pt; margin-top: 10pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 10%; border-top: 1.0pt solid black; font-size: 2pt">&nbsp;<BR>&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(1)</TD>
    <TD align="left">
    Total cash costs per ounce for 2005 and 2004 are not comparable
    due to the change in accounting for deferred stripping
    costs&nbsp;&#151; see page&nbsp;18 of the Offeror&#146;s
    Management&#146;s Discussion and Analysis in respect of the
    nine-month period ended September&nbsp;30, 2005, which is
    incorporated by reference in the Offer and Circular. Total cash
    costs per ounce exclude amortization&nbsp;&#151; see
    page&nbsp;20 of the Offeror&#146;s Management&#146;s Discussion
    and Analysis in respect of the nine-month period ended
    September&nbsp;30, 2005, which is incorporated by reference in
    the Offer and Circular.</TD>
</TR>

</TABLE>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(2)</TD>
    <TD align="left">
    Mineral reserves (&#147;reserves&#148;) have been calculated as
    at December&nbsp;31, 2004 in accordance with National Instrument
    43-101, as required by Canadian securities regulatory
    authorities and, for the United States, in accordance with
    Industry Guide&nbsp;7 (under the U.S. Exchange Act) as
    interpreted by the Staff of the SEC. Calculations were prepared
    by employees of the Offeror under the supervision of Ren&#233;
    L.&nbsp;Marion, P.Eng., Vice-President, Technical Services of
    the Offeror. Except as noted below, reserves have been
    calculated using an assumed gold price of $375 per ounce, a
    silver price of $5.50 per ounce and an exchange rate of $1.45
    Cdn.$/ US$. Reserves at the Australian properties assumed a gold
    price of A$560 per ounce. Reserves at the Hemlo property assumed
    a gold price of $350 per ounce and an exchange rate of $1.35
    Cdn.$/US$. Reserves at Round Mountain are based on pit designs
    consistent with a gold price of $375&nbsp;per ounce. Reserve
    calculations incorporate then current and/or expected mine plans
    and cost levels at each property. Cost estimates at each
    Australian property assumed an exchange rate of $0.70 US$/ A$.
    Varying cut-off grades have been used depending on the mine and
    type of ore contained in the reserves. The Offeror&#146;s normal
    data verification procedures have been employed in connection
    with the calculations. For a more detailed description of the
    methods used in calculating the Offeror&#146;s reserves and
    resources, see the Offeror&#146;s most recent
    Form&nbsp;40-F/Annual Information Form.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">36

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
corporation resulting from the amalgamation on July&nbsp;14,
1984 of Camflo Mines Limited, Bob-Clare Investments Limited and
the former Barrick Resources Corporation. On December&nbsp;9,
1985, the Offeror changed its name to American Barrick Resources
Corporation and on January&nbsp;1, 1995 the Offeror changed its
name to Barrick Gold Corporation. The Offeror&#146;s head office
and principal place of business is BCE Place, Canada
Trust&nbsp;Tower, Suite&nbsp;3700, 161&nbsp;Bay Street, P.O.
Box&nbsp;212, Toronto, Ontario, Canada M5J&nbsp;2S1 (telephone:
(416)&nbsp;861-9911 or toll free number: 1-800-720-7415).
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='120'></A>
</DIV>

<!-- link1 "2.Placer Dome" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>2.</B></TD>
    <TD>
    <B>Placer Dome</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Placer Dome is principally engaged in the exploration for, and
the acquisition, development and operation of gold mineral
properties. At present, major mining operations are located in
Canada, the United States, Australia, Papua New Guinea, South
Africa, Tanzania and Chile. Exploration work is carried out in
the foregoing countries and many others elsewhere throughout the
world. Placer Dome&#146;s principal product and source of
earnings is gold, although significant quantities of copper and
silver are also produced.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For the year ended December&nbsp;31, 2004, Placer Dome&#146;s
share of gold production from its mines was approximately
3.7&nbsp;million ounces of gold, and its share of copper
production was approximately 413&nbsp;million pounds. For the
nine months ended September&nbsp;30, 2005, Placer Dome&#146;s
share of gold production from its mines was 2.7&nbsp;million
ounces, at total cash costs of $281 per ounce and its share of
copper production was approximately 268&nbsp;million pounds.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Placer Dome is the continuing corporation resulting from the
1987 amalgamation under the CBCA of Placer Development Limited,
Dome Mines Limited and Campbell Red Lake Mines Limited. In 1999,
the Corporation amalgamated with its wholly-owned subsidiary,
Placer Development Investments Limited.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Placer Dome&#146;s Shares are listed on the TSX, the NYSE, the
ASX in the form of CHESS depositary interests, Euronext-Paris
and the SWX Swiss Exchange. The Shares are listed under the
stock symbol &#147;PDG&#148;. International Depository Receipts
representing Shares are listed on Euronext-Brussels. Placer
Dome&#146;s head office is at 1055&nbsp;Dunsmuir Street,
Suite&nbsp;1600, Vancouver, British Columbia,
Canada&nbsp;V7X&nbsp;1P1 (telephone: (604)&nbsp;682-7082 or toll
free number: 1-800-565-5815).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For further information regarding Placer Dome, refer to Placer
Dome&#146;s filings with the Canadian securities regulatory
authorities which may be obtained through the SEDAR website at
<U>www.sedar.com</U>.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='121'></A>
</DIV>

<!-- link1 "3.Background to the Offer" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>3.</B></TD>
    <TD>
    <B>Background to the Offer</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On several occasions over the last decade, representatives of
the Offeror have approached representatives of Placer Dome to
discuss the willingness of Placer Dome to pursue a business
combination transaction. The last such approach occurred in June
2001. On each such occasion, representatives of Placer Dome
indicated that they were not interested in pursuing such a
transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In late July 2005, management of the Offeror began to prepare a
presentation relating to a number of possible strategic
initiatives for presentation to the board of directors of the
Offeror at its next meeting scheduled for September&nbsp;14,
2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror&#146;s corporate development group, led by Alex
Davidson, Executive Vice President, Exploration and Corporate
Development, considered a variety of strategic initiatives. Over
the ensuing months, the possible strategic initiatives were
evaluated, assessed and discussed among the Offeror&#146;s
senior management.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On August&nbsp;22, 2005, Mr.&nbsp;Davidson contacted Ian Telfer,
the President and Chief Executive Officer of Goldcorp, to
discuss whether Goldcorp may be interested in pursuing a
potential joint acquisition of Placer Dome. On August&nbsp;24,
2005, Mr.&nbsp;Davidson and Darren Blasutti, Vice President,
Corporate Development of the Offeror, met with Mr.&nbsp;Telfer
to discuss in more detail the basis upon which a potential
acquisition might be completed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Between August&nbsp;24 and mid-September 2005, the
Offeror&#146;s corporate development group continued its
analysis of Barrick&#146;s strategic options, one of which was a
possible offer to purchase Placer Dome and a sale or other
conveyance of assets of Placer Dome to Goldcorp if an offer was
successfully completed. The Offeror&#146;s corporate development
group also continued in the normal course to assess a number of
other possible corporate development initiatives.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At the meeting of the Offeror&#146;s board of directors held on
September&nbsp;14, 2005, the Offeror&#146;s board of directors
instructed management to continue to evaluate and consider
strategic initiatives, one of which was a potential acquisition
of Placer Dome. Following that meeting, in light of the fact
that greater focus was being placed on other strategic
initiatives, Mr.&nbsp;Davidson and Mr. Blasutti contacted
Mr.&nbsp;Telfer to inform him that, given the various
</DIV>

<P align="center" style="font-size: 10pt;">37

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<DIV align="left" style="font-size: 10pt;">
initiatives, it did not make sense to continue active
discussions regarding a potential acquisition of Placer Dome at
that time. On September&nbsp;16, 2005, Mr. Telfer met with
Gregory Wilkins, President and Chief Executive Officer of the
Offeror, and Mr. Blasutti to encourage continued discussions
regarding a potential acquisition of Placer Dome. Mr. Wilkins
and Mr. Blasutti advised that this was not the current focus of
the Offeror&#146;s corporate development activities. The parties
agreed to keep in touch in case the situation regarding the
possibility of an acquisition of Placer Dome should change in
the future.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
At the Denver Gold Show on September&nbsp;28, 2005,
Mr.&nbsp;Wilkins and Mr.&nbsp;Telfer met informally and
generally discussed the possibility of re-engaging in
discussions regarding the joint acquisition of Placer Dome.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On October&nbsp;3, 2005, Mr.&nbsp;Wilkins, Peter Munk, the
Chairman of the Offeror, and C.&nbsp;William D.&nbsp;Birchall,
the Vice Chairman of the Offeror, being three of the four
members of a joint committee of management and directors that
had been established by the board of directors of the Offeror in
April 2005 for the purpose of reviewing overall corporate
strategy, met to discuss the possibility of pursuing with
Goldcorp the joint acquisition of Placer Dome and determined
that such initiative should be further explored with Goldcorp.
Following that meeting, Mr.&nbsp;Davidson and Mr.&nbsp;Blasutti
contacted Mr.&nbsp;Telfer to advise him that the Offeror was
interested in resuming discussions regarding a joint acquisition
of Placer Dome. On October&nbsp;6, 2005, Mr.&nbsp;Telfer was
contacted by Mr.&nbsp;Davidson and Mr.&nbsp;Blasutti and they
mutually agreed that the Offeror and Goldcorp would devote the
necessary financial and human resources to thoroughly
investigate the possibility of making an offer to the
shareholders of Placer Dome. They also agreed to the engagement
of RBC Capital Markets and Merrill Lynch as joint financial
advisors, to provide financial and strategic advice to the
Offeror and Goldcorp regarding the offer proposed to be made to
the shareholders of Placer Dome and the sale or conveyance of
certain assets of Placer Dome to Goldcorp if the offer was
successful.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On October&nbsp;7, 2005, the Offeror and Goldcorp entered into a
confidentiality agreement to protect the confidentiality of
their discussions and mutual exchange of information regarding
this transaction. On that date, the Offeror provided Goldcorp
with a draft term sheet outlining the principal terms and
conditions upon which an offer to the Placer Dome Shareholders
might be made by the Offeror, with the subsequent sale to
Goldcorp of specified assets of Placer Dome if that offer was
successful.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On October&nbsp;13, 2005, representatives of the Offeror and its
counsel, Davies Ward Phillips &#38; Vineberg LLP, met with
representatives of Goldcorp and its counsel, Cassels
Brock&nbsp;&#38; Blackwell LLP, as well as representatives of
RBC Capital Markets and Merrill Lynch to discuss the term sheet
provided to Goldcorp on October&nbsp;7, 2005 and various related
matters. The parties agreed at that meeting to work diligently
to prepare, negotiate and settle the form of agreement to be
entered into between them to provide for the basis upon which
assets of Placer Dome would be conveyed to Goldcorp if the offer
was successful (the &#147;<B>Goldcorp Agreement</B>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Over the next two-week period representatives of the Offeror and
Goldcorp, their respective counsel and RBC Capital Markets and
Merrill Lynch met in person or by telephone conference on a
number of occasions to discuss various aspects of the Offer and
to settle the form of the Goldcorp Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On October&nbsp;27, 2005, at a regularly scheduled board
meeting, the board of directors of the Offeror met to consider
and approve the Offeror&#146;s third quarter report, including
financial statements for the quarter ended September&nbsp;30,
2005 and related management&#146;s discussion and analysis of
financial results. The Offeror&#146;s third quarter report was
released after the close of the markets in New York and Toronto
that day. During that board meeting, the Offeror&#146;s senior
management and counsel as well as representatives of RBC Capital
Markets and Merrill Lynch met with the Offeror&#146;s board. The
Offeror&#146;s senior management made presentations regarding
the background to a potential offer for Placer Dome, reviewed or
updated information relating to Placer Dome presented in
connection with the review of possible strategic alternatives
presented at the September&nbsp;14, 2005 meeting of the board of
directors of the Offeror, and presented information on various
key financial, operational and other matters to be considered by
the board in respect of the potential offer. The Offeror&#146;s
counsel discussed with the board the nature and structure of the
potential offer and a number of related matters as well as the
principal terms and conditions of the Goldcorp Agreement. RBC
Capital Markets and Merrill Lynch reviewed various additional
financial analyses relating to the financial aspects of the
potential offer and of the Goldcorp Agreement and various
matters relating to the potential offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On October&nbsp;27, 28 and 29, 2005, discussions occurred
between Mr.&nbsp;Wilkins, Mr.&nbsp;Davidson and Mr.&nbsp;Telfer,
with respect to finalizing key terms of the Goldcorp Agreement.
The board of directors of Goldcorp met by conference telephone
call later in the day on October&nbsp;29, 2005 and approved the
entering into of the Goldcorp Agreement.
</DIV>

<P align="center" style="font-size: 10pt;">38

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On October&nbsp;30, 2005, the board of directors of the Offeror
met by conference telephone call to review and consider the
making of the Offer and the Goldcorp Agreement. After discussing
various matters relating to the proposed transaction, the Board
of the Offeror unanimously approved the making of the Offer and
the entering into of the Goldcorp Agreement.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
During the evening of October&nbsp;30, 2005, the final form of
the Goldcorp Agreement was settled between counsel for the
Offeror and counsel for Goldcorp and the Goldcorp Agreement was
signed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer was announced prior to the opening of the markets in
New York and Toronto on October&nbsp;31, 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Goldcorp Agreement</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following is a summary of certain provisions of the Goldcorp
Agreement. It does not purport to be complete and is subject to,
and is qualified in its entirety by reference to, all the
provisions of the Goldcorp Agreement. The Goldcorp Agreement has
been filed by the Offeror (i)&nbsp;with the Canadian securities
regulatory authorities and is available at <U>www.sedar.com</U>
and (ii)&nbsp;with the SEC and is available at
<U>www.sec.gov</U>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Assets to be Sold</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Goldcorp has agreed, on the terms and subject to the conditions
of the Goldcorp Agreement, to acquire all of Placer Dome&#146;s
Canadian properties and operations (other than the offices in
Vancouver and Toronto), including all historic mining,
reclamation and exploration properties, Placer Dome&#146;s
interest in the La Coipa mine in Chile, 40% of Placer
Dome&#146;s interest in the Pueblo Viejo project in the
Dominican Republic, certain related assets and, at the option of
Goldcorp, the Offeror&#146;s shares in Agua de la Falda S.A.,
which includes the Offeror&#146;s interest in the Jeronimo
project (collectively, the &#147;<B>Goldcorp Assets</B>&#148;).
In connection with such purchase, Goldcorp will be responsible
for all liabilities relating solely to the Goldcorp Assets,
including employment commitments and environmental, closure and
reclamation liabilities (collectively, the &#147;<B>Goldcorp
Liabilities</B>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Purchase Price</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to assuming assumed liabilities, Goldcorp will make
a cash payment at closing (the &#147;<B>Goldcorp
Closing</B>&#148;) to the Offeror equal to (a)&nbsp;13% of the
amount offered pursuant to the Offer for each Share immediately
prior to the Expiry Date multiplied by the number of Shares
acquired pursuant to the Offer and any Compulsory Acquisition or
Subsequent Acquisition Transaction, plus (b)&nbsp;13% of the
amount offered pursuant to the Offer for each Share immediately
prior to the Expiry Date multiplied by the number of Shares in
respect of which rights of dissent on any Subsequent Acquisition
Transaction are exercised, less (c)&nbsp;13% of the aggregate
exercise price of all Options exercised from October&nbsp;31,
2005 to the date the Offeror acquires all of Placer Dome&#146;s
issued and outstanding Shares, less (d)&nbsp;13% of the
principal amount of all debentures converted into Shares from
October&nbsp;31, 2005 to the date the Offeror acquires all of
Placer Dome&#146;s issued and outstanding Shares (plus any
accrued interest outstanding at the time of conversion which is
not subsequently paid in cash to the holder of the debentures),
plus (e)&nbsp;an amount calculated as the equivalent of interest
on cash payments made by the Offeror to Shareholders, plus
(f)&nbsp;$189&nbsp;million.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The purchase price is adjusted up or down (a)&nbsp;by 13% of the
amount that the mark-to-market value of Placer Dome&#146;s hedge
book is less or greater than negative $971&nbsp;million,
respectively, on the later of the date that the Offeror acquires
66<FONT style="font-size: 70%"><SUP>2</SUP></FONT>/<FONT style="font-size: 60%">3</FONT>%
of the outstanding Shares on a fully diluted basis and the first
date on which persons appointed by the Offeror comprise a
majority of the Board of Directors of Placer Dome (the
&#147;<B>Barrick Control Date</B>&#148;), and (b)&nbsp;by 13% of
the amount that Placer Dome&#146;s net debt on October&nbsp;31,
2005 is greater or less than $297&nbsp;million, respectively.
The purchase price will also be adjusted to the extent that cash
used in connection with the operations of the Goldcorp Assets
and discharge of the Goldcorp Liabilities from November&nbsp;1,
2005 to the date of the Goldcorp Closing is greater than the
cash generated by the Goldcorp Assets during such period and to
the extent that an award is made in favour of Placer Dome&#146;s
subsidiary, Placer Dome (CLA) Limited (&#147;<B>CLA</B>&#148;),
in its dispute of a reassessment of Ontario mining taxes. If the
cash generated by the Goldcorp Assets is greater than the cash
used in connection with the operations of the Goldcorp Assets
and discharge of the Goldcorp Liabilities from November&nbsp;1,
2005 to the date of the Goldcorp Closing, then the assets
transferred to Goldcorp will include such excess cash.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based on information regarding the number of Shares and Options
and the amount of Convertible Debentures outstanding on
October&nbsp;21, 2005, if all Shares were acquired on a fully
diluted basis and no adjustments were required, the cash
purchase price would be approximately $1,350&nbsp;million.
</DIV>

<P align="center" style="font-size: 10pt;">39

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Conversion to Put Option</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Offeror determines that it is appropriate to increase the
amount offered for each Share under the Offer and Goldcorp does
not approve of such increase, the Offeror will have the right to
put the Goldcorp Assets and Goldcorp Liabilities to Goldcorp (a
&#147;<B>Put Option Conversion</B>&#148;) by notice of exercise
delivered on or before the Expiry Date. If a Put Option
Conversion occurs and the Offeror exercises its put option, then
the purchase price set out above will be calculated with
reference to the consideration offered for each Share prior to
the increase that Goldcorp did not approve, rather than the
consideration offered immediately prior to the Expiry Date.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Deposit</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Goldcorp will pay into an interest-bearing escrow account a
$250&nbsp;million deposit on the later of the Barrick Control
Date and, if a Put Option Conversion has occurred, three
business days after delivery of the Offeror&#146;s notice of
exercise of such put option. The deposit and interest will be
applied to the purchase price. If the Goldcorp Closing does not
occur as a result of a breach of the Goldcorp Agreement by
Goldcorp, the deposit and interest will be forfeited to the
Offeror. If the Goldcorp Closing does not occur for any other
reason, the deposit and interest will be paid to Goldcorp.
Goldcorp and the Offeror have also agreed to share certain
expenses relating to the Offer, any Compulsory Acquisition or
Subsequent Acquisition Transaction and the transaction
contemplated in the Goldcorp Agreement, as to 87% by the Offeror
and as to 13% by Goldcorp, except in specified circumstances.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Conditions of Closing</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Goldcorp Closing is subject to customary conditions of
closing, in addition to a condition in favour of Goldcorp that
no change, effect, event, circumstance, occurrence or state of
facts that has had or would reasonably be expected to have a
Goldcorp Material Adverse Effect (subject to certain
limitations) has occurred from October&nbsp;30, 2005 to the date
on which the Offeror issues a press release to the effect that
all conditions of the Offer have either been satisfied or
waived, and conditions in favour of the Offeror that
(i)&nbsp;the Offeror is satisfied that no circumstances exist
which would prevent the Offeror from implementing an increase in
the Canadian tax cost to the Offeror of the shares of CLA up to
an amount that is at least equal to the portion of the purchase
price allocated to the shares of CLA, (ii)&nbsp;the Offeror
shall have acquired all of the issued and outstanding Shares,
and (iii)&nbsp;at the request of the Offeror, Goldcorp shall
have provided confirmation that the condition in favour of
Goldcorp set out above has been satisfied.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Exclusivity</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Goldcorp has agreed that, except with the consent of the
Offeror, it will not, directly or indirectly, alone or with any
other person (other than the Offeror), until the date that is
12&nbsp;months after the Expiry Date, solicit, initiate,
discuss, negotiate or participate in, or make or enter into, any
agreement, commitment or understanding to do or make or
participate in any acquisition or offer to acquire any equity or
voting securities of Placer Dome (or securities convertible or
exchangeable into equity or voting securities of Placer Dome),
any acquisition or lease or offer to acquire or lease or any
joint venture arrangement or similar transaction in respect of
any of the Goldcorp Assets, any merger, amalgamation,
arrangement, share exchange, take-over bid, business combination
or similar transaction with or involving Placer Dome or any of
its affiliates, or any transaction seeking to control the
management, board of directors or policies of Placer Dome. The
Offeror has agreed that, except with the consent of Goldcorp, it
will not, directly or indirectly, alone or with any other
person, until the earlier of the Barrick Control Date and the
date that is 12&nbsp;months after the Expiry Date, make a
take-over bid in respect of any equity or voting securities of
Placer Dome or solicit, initiate, discuss, negotiate or
participate in, or make or enter into, any agreement, commitment
or understanding to do or make or participate in any acquisition
or offer to acquire any equity or voting securities of Placer
Dome (or securities convertible or exchangeable into equity or
voting securities of Placer Dome), any acquisition or lease or
offer to acquire or lease or any joint venture arrangement or
similar transaction in respect of the assets of Placer Dome, or
any transaction seeking to control the management, board of
directors or policies of Placer Dome, except in each case
pursuant to the Offer, any Compulsory Acquisition or Subsequent
Acquisition Transaction or any alternative form of transaction
to the Offer that involves a change in control of, or
acquisition of, or merger, amalgamation, arrangement or business
combination with Placer Dome agreed with Placer Dome. If, during
the period ending 12&nbsp;months after the Expiry Date, the
Offeror enters into an agreement with Placer Dome providing for
any such alternative form of transaction to the Offer, the
provisions of the Goldcorp Agreement will apply to such
transaction. In the event of a change in control of either the
Offeror or Goldcorp, the other party can terminate the Goldcorp
Agreement and such terminating party will be released from its
exclusivity obligations described above.
</DIV>

<P align="center" style="font-size: 10pt;">40

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<DIV align="left" style="font-size: 10pt;">
<A name='122'></A>
</DIV>

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<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>4.</B></TD>
    <TD>
    <B>Strategic Rationale</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror believes that the proposed business combination
between the Offeror and Placer Dome is a unique opportunity to
create a Canadian-based, highly-respected global gold mining
company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Offer is successful and the Offeror acquires 100% of the
outstanding Shares, the Offeror will strengthen its competitive
position, including in respect of the following (on a pro forma
basis after giving effect to completion of the Goldcorp
Transaction):
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I>Reserves:</I> The Offeror would have 149.8&nbsp;million
    ounces of proven and probable gold reserves and
    63.3&nbsp;million ounces of measured and indicated
    resources,<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
    based on the respective 2004&nbsp;year-end figures of the
    Offeror and Placer Dome and the material change reports of
    Placer Dome dated September&nbsp;16, 2005 and September&nbsp;27,
    2005. The Offeror would also have proven and probable copper
    reserves of 6,542&nbsp;million pounds as at December&nbsp;31,
    2004.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I>Production:</I> The Offeror would have estimated production
    for 2005 of between 8.3 and 8.4&nbsp;million ounces of gold and
    approximately 370&nbsp;million pounds of copper from a portfolio
    of quality operations in key gold-producing districts.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I>Total Cash Costs:</I> Based on 2005 estimates published by
    Placer Dome, the Offeror would have estimated total cash costs
    per ounce of gold in the range of $245 to $250 for 2005, the
    lowest of any of the senior gold producers.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I>Growth Opportunities:</I> The Offeror would have an unrivaled
    pipeline of projects on four continents as well as extensive
    land positions for exploration in 16 countries, with a balanced
    geopolitical risk profile.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I>Balance Sheet Strength:</I> Based on the unaudited financial
    statements of both companies as at September&nbsp;30, 2005 and
    assuming the exercise of all in-the-money Options of Placer
    Dome, the Offeror would have a cash position of about
    $2.4&nbsp;billion (including restricted cash) as at
    September&nbsp;30, 2005 and the ability to finance the
    development of a combined project pipeline without any need to
    issue equity to fund that development.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Many of the Offeror&#146;s and Placer Dome&#146;s operations,
projects and exploration properties are in close proximity. The
Offeror has identified the possibility to realize estimated
annual pre-tax operating and corporate synergies of
approximately $200&nbsp;million, excluding the annual pre-tax
synergies of approximately $30 to $40&nbsp;million which
Goldcorp has advised the Offeror that Goldcorp expects to
realize from the assets sold to it under the Goldcorp Agreement,
described under &#147;Background to the Offer&nbsp;&#151;
Goldcorp Agreement&#148; in Section&nbsp;3 of the Circular. The
Offeror expects to realize these synergies in 2007. The
synergies are expected to be realized from a number of areas,
including the following:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I>Operations:</I> The Offeror believes that there are
    opportunities for the Offeror and Placer Dome to optimize and
    share mining and processing infrastructure in jurisdictions in
    which both companies have operations, including Nevada,
    Australia and Tanzania. The Offeror also believes that there are
    opportunities in those jurisdictions to reduce energy costs and
    inventory levels through the use of joint infrastructure. The
    Offeror also intends to identify the best operational practices
    that exist within both organizations and implement those
    practices across all areas of the combined operations to reduce
    cash operating costs.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I>Exploration:</I> The acquisition of Placer Dome will allow
    the Offeror to consolidate an unrivalled land position in
    prospective areas in 16 countries. The Offeror intends to
    carefully assess the exploration spending of both companies,
    prioritize exploration spending on the most prospective areas
    and reduce the overall exploration spending of the combined
    enterprise, particularly in areas where both the Offeror and
    Placer Dome are engaged in exploration activities.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I>General and Administrative:</I> The Offeror intends to
    conduct a detailed review of the general and administrative
    costs of Placer Dome and to eliminate duplication of offices and
    overheads in all regions. If the Offer is successful, the
    Offeror will remain headquartered in Toronto, Ontario, and will
    consolidate an exploration/ technical services office in
    Vancouver, British Columbia. The Offeror also intends to adapt
    its regional business unit structure to the new geographic
    profile of the combined company by reconfiguring some units and
    increasing the total number of units to five: North America,
    South America, Australia/Asia, Africa and Russia/ Central Asia.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">

</DIV>

<DIV align="left" style="font-size: 3pt; margin-top: 10pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 10%; border-top: 1.0pt solid black; font-size: 2pt">&nbsp;<BR>&nbsp;</DIV>
</DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    Includes the Cerro Casale project, in respect of which Placer
    Dome has entered into an agreement in principle to sell its
    interest to Arizona Star Resource Corp. and Bema Gold
    Corporation.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">41

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<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I>Procurement:</I> The Offeror expects to derive significant
    annual savings through the improved purchasing power of the
    larger enterprise.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="left">
    <I>Finance and Tax:</I> The Offeror believes there will be
    opportunities to realize tax synergies in those jurisdictions in
    which each company currently has operations. In addition, the
    larger balance sheet of the combined enterprise is expected to
    result in opportunities for debt optimization and a lower
    overall cost of capital.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition to the estimated annual synergies, the Offeror also
believes that there are opportunities to capture synergies
through the ability to sequentially develop substantial projects
using experienced development teams that it will move from
project to project as development work is completed. Development
equipment can also be used on multiple development projects over
time. The size of the development group of the combined
enterprise is expected to allow for in-house management of
engineering, procurement, construction and management (EPCM)
contracts, at substantial savings.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Strategically, the combined enterprise will have the scope,
scale and financial strength to be able to capitalize in an
expeditious manner on opportunities that arise within the
industry from time to time. The market capitalization of the
combined enterprise, based on current share prices, is expected
to exceed $20&nbsp;billion, and the additional trading liquidity
associated with increase in size of the combined enterprise is
expected to make the shares of the combined enterprise more
attractive to institutional investors than would be the case for
either company on a stand-alone basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror believes that the Offer represents significant value
to Placer Dome&#146;s Shareholders by providing them with a
substantial premium to the price at which the Shares were
trading prior to the announcement of the Offer as well as the
opportunity to participate in a highly-respected global company
in the gold mining industry with demonstrated expertise in
finding, developing and operating large-scale mines worldwide.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='123'></A>
</DIV>

<!-- link1 "5.Purpose of the Offer" -->

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>5.</B></TD>
    <TD>
    <B>Purpose of the Offer</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The purpose of the Offer is to acquire all of the outstanding
Shares of Placer Dome (which includes Shares which may become
outstanding on the exercise of Options and Convertible
Debentures). See also &#147;Acquisition of Shares Not Deposited
Pursuant to the Offer&#148; in Section&nbsp;21 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If at least 90% of the outstanding Shares are validly tendered
pursuant to the Offer and not withdrawn, the conditions of the
Offer are otherwise satisfied or waived and the Offeror takes up
and pays for the Shares validly deposited pursuant to the Offer,
the Offeror intends to acquire any Shares not deposited to the
Offer by Compulsory Acquisition, if available. If a Compulsory
Acquisition is not available or if the Offeror decides not to
proceed with a Compulsory Acquisition and the condition that at
least
66<FONT style="font-size: 70%"><SUP>2</SUP></FONT>/<FONT style="font-size: 60%">3</FONT>%
of the outstanding Shares (calculated on a fully diluted basis)
are deposited to the Offer has been satisfied, and the Offeror
takes up and pays for such Shares, the Offeror currently intends
to propose a Subsequent Acquisition Transaction on the same
terms as such Shares were acquired under the Offer. There can be
no assurance that such a transaction will be completed. The
Offeror does not currently own any Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If permitted by applicable Law, subsequent to the completion of
the Offer and any Compulsory Acquisition or Subsequent
Acquisition Transaction, the Offeror intends to delist or
request to delist the Shares, CDIs and IDRs from the Listing
Exchanges and subject to applicable securities Laws, to cause
Placer Dome to cease to be a reporting issuer under the
securities Laws of each province of Canada in which it is a
reporting issuer and to cease to have public reporting
obligations in any other jurisdiction where it currently has
such obligations. For so long as Placer Dome has public debt
outstanding, there may be limitations on its ability to cease to
be a reporting issuer and to cease to have public reporting
obligations. See &#147;Effect of the Offer on the Market for
Shares; Stock Exchange Listing and Public Disclosure&#148; in
Section&nbsp;18 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the United States, the Shares are currently registered under
the U.S. Exchange Act. Such registration may be terminated upon
application by Placer Dome to the SEC if the Shares are not
listed on a U.S. national securities exchange or quoted on
NASDAQ and there are fewer than 300 record holders of the
Shares. The termination of registration of the Shares under the
U.S. Exchange Act would substantially reduce the information
required to be furnished by Placer Dome to Shareholders and to
the SEC and would make certain provisions of the U.S. Exchange
Act, such as the disclosure requirements of the U.S.
Sarbanes-Oxley Act of 2002 and the requirements of
Rule&nbsp;13e-3 under the U.S.&nbsp;Exchange Act with respect to
&#147;going-private&#148; transactions, no longer applicable to
Placer Dome. In addition, &#147;affiliates&#148; of Placer Dome
and persons holding &#147;restricted securities&#148; of Placer
Dome might be deprived of the ability to dispose of such
securities pursuant to Rule&nbsp;144 promulgated under the
U.S.&nbsp;Securities Act. The Offeror
</DIV>

<P align="center" style="font-size: 10pt;">42

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<DIV align="left" style="font-size: 10pt;">
intends to seek to cause Placer Dome to terminate registration
of the Shares under the U.S.&nbsp;Exchange Act as soon as
practicable after consummation of the Offer pursuant to the
requirements for termination of registration of the Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
See &#147;Acquisition of Shares Not Deposited Pursuant to the
Offer&#148; in Section&nbsp;21 of the Circular.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='124'></A>
</DIV>

<!-- link1 "6.Plans for Placer Dome" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>6.</B></TD>
    <TD>
    <B>Plans for Placer Dome</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Offer is successful and the Offeror acquires 100% of the
outstanding Shares, the Offeror intends to conduct a detailed
review of Placer Dome and its assets, corporate structure,
dividend policy, capitalization, hedge book, operations,
policies, management and personnel to determine what changes
would be desirable in light of such review and the circumstances
which then exist. The Offeror intends to integrate the
operations of Placer Dome into the operations of the Offeror as
soon as possible after the Offer has been completed. See
&#147;Strategic Rationale&#148; in Section&nbsp;4 of the
Circular.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As set out in &#147;Conditions of the Offer&#148; in
Section&nbsp;4 of the Offer and &#147;Background to the
Offer&nbsp;&#151; Goldcorp Agreement&#148; in Section&nbsp;3 of
the Circular, it is a condition to the completion of the Offer
and a condition to the completion of the asset sale provided for
in the Goldcorp Agreement that subsequent to the acquisition by
the Offeror of 100% of the outstanding Shares, the Offeror be
able to utilize the Canadian tax cost &#147;bump&#148; provided
for in paragraph&nbsp;88(1)(d) of the Tax Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Following completion of the Offer and any Compulsory Acquisition
or Subsequent Acquisition Transaction resulting in Barrick
owning 100% of the Shares, the Offeror intends to amalgamate
with Placer Dome or cause Placer Dome to wind up into the
Offeror. The Offeror intends to apply the &#147;bump&#148; to
increase, to the extent permitted under the Tax Act, the
adjusted cost base of the shares of Placer Dome&#146;s directly
owned subsidiary corporations that the Offeror will acquire on
the amalgamation or winding-up, based on Placer Dome&#146;s
publicly disclosed corporate structure. The &#147;bump&#148;
will enable the Offeror to sell the shares of Placer Dome&#146;s
Canadian subsidiary (holding Placer Dome&#146;s Canadian mining
assets) to Goldcorp on a tax-efficient basis, and may in
addition facilitate the integration of Placer Dome&#146;s
non-Canadian mining assets into the Offeror&#146;s corporate
group and other possible post-acquisition transactions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In order to alert Placer Dome to the importance of the Canadian
tax cost &#147;bump&#148; to the Offer, the Offeror sent a
letter on October&nbsp;31, 2005 by fax (with courier delivery
the following day) to Placer Dome&#146;s Chairman, Mr. Robert
Franklin, and its President and Chief Executive Officer, Mr.
Peter Tomsett. A copy of this letter is attached to the Circular
as Schedule&nbsp;B. The letter describes how the availability of
the &#147;bump&#148; has contributed to the Offeror&#146;s
ability to price the Offer at an attractive premium, and further
emphasizes that any attempt by Placer Dome to thwart the
Offeror&#146;s ability to utilize the &#147;bump&#148; will be
destructive of Placer Dome shareholder value. It is accordingly
a condition of the Offer that Placer Dome not undertake any
reorganization or other action that would prevent the Offeror
from obtaining a full tax cost &#147;bump&#148; in respect of
Placer Dome&#146;s directly-held subsidiaries. See
&#147;Conditions of the Offer&#148; in Section&nbsp;4 of the
Offer.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='152'></A>
</DIV>

<!-- link1 "7.Business Combination Risks" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>7.</B></TD>
    <TD>
    <B>Business Combination Risks</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The combination of the Offeror with Placer Dome is subject to
certain risks, including the following:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The actual cash and share consideration received by
Shareholders will depend on pro ration and the Barrick Common
Shares issued in connection with the Offer may have a market
value different than expected and the value of the cash portion
of the Offer will fluctuate for non-U.S. Shareholders.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror is offering to purchase Shares on the basis of, at
the election of the Shareholder, $20.50 in cash for each Share
or 0.7518 of a Barrick Common Share and $0.05 in cash for each
Share, subject to pro ration. Assuming that either all
Shareholders tendered to the Cash Alternative or all
Shareholders tendered to the Share Alternative, each Shareholder
would be entitled to receive $2.65 in cash and 0.6562 of a
Barrick Common Share for each Share tendered, subject to
adjustment for fractional shares. In light of the total amount
of cash available under the Offer relative to the size of the
Offer, it is unlikely that Shareholders who elect to receive the
Cash Alternative will receive only cash consideration for their
Shares. Because the exchange ratio will not be adjusted to
reflect any changes in the market value of Barrick Common
Shares, the market values of the Barrick Common Shares and the
Shares at the time of the take-up of Shares under the Offer may
vary significantly from the values at the date of the Offer and
Circular or the date that Shareholders tender their Shares. If
the market price of Barrick Common Shares declines, the value of
the consideration received by Shareholders will decline as well.
For example, during the twelve-month period ending on
</DIV>

<P align="center" style="font-size: 10pt;">43
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<DIV align="left" style="font-size: 10pt;">
November&nbsp;8, 2005 (the most recent practicable date prior to
the date of the Offer), the trading price of Barrick Common
Shares on the NYSE varied from a low of $21.09 to a high of
$29.95 and ended that period at $25.24. Variations like these
may occur as a result of changes in, or market perceptions of
changes in, the business, operations or prospects of the
Offeror, market assessments of the likelihood the Offer will be
consummated, regulatory considerations, general market and
economic conditions, gold price changes and other factors over
which the Offeror has no control. In addition, currency exchange
rates may fluctuate and the prevailing exchange rate on the
settlement date may be significantly different from the exchange
rate on the date of the Offer and Circular or the date that
non-U.S. Shareholders tender their Shares. These changes may
significantly affect the value of the consideration received for
tendered Shares by non-U.S. Shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The Offeror has not verified the reliability of the
information regarding Placer Dome included in, or which may have
been omitted from, the Offer and Circular.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All historical information regarding Placer Dome contained in
the Offer and Circular, including all Placer Dome financial
information and all pro forma financial information reflecting
the pro forma effects of a combination of Placer Dome and the
Offeror derived in part from Placer Dome&#146;s financial
information, has been derived from Placer Dome&#146;s publicly
available information. Although the Offeror has no reason to
doubt the accuracy or completeness of Placer Dome&#146;s
publicly disclosed information, any inaccuracy or material
omission in Placer Dome&#146;s publicly available information,
including the information about or relating to Placer Dome
contained in the Offer and Circular, could result in
unanticipated liabilities or expenses, increase the cost of
integrating the two companies or adversely affect the
operational plans of the combined company and its results of
operations and financial condition.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Change of control provisions in Placer Dome&#146;s
agreements triggered upon the acquisition of Placer Dome may
lead to adverse consequences.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Placer Dome may be a party to agreements that contain change of
control provisions that may be triggered following completion of
the Offer, since the Offeror will hold Shares representing a
majority of the voting rights of Placer Dome. The operation of
these change of control provisions, if triggered, could result
in unanticipated expenses and/or cash payments following the
consummation of the Offer or adversely affect Placer Dome&#146;s
results of operations and financial condition. Unless these
change of control provisions are waived by the other party, the
operation of any of these provisions could adversely affect the
results of operations and financial condition of the combined
company.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The integration of the Offeror and Placer Dome may not
occur as planned.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is being made with the expectation that its successful
completion and a subsequent combination with the Offeror will
result in increased earnings and cost savings for the combined
company. This expectation is based on presumed synergies from
consolidation and enhanced growth opportunities of the combined
company. These anticipated benefits will depend in part on
whether the operations, systems, management and cultures of
Placer Dome and the Offeror can be integrated in an efficient
and effective manner, the timing and manner of completion of a
Subsequent Acquisition Transaction and whether the expected
bases or sources of synergies do in fact produce the benefits
anticipated. Most operational and strategic decisions, and
certain staffing decisions, with respect to the combined company
have not yet been made and may not have been fully identified.
These decisions and the integration of the two companies will
present significant challenges to management, including the
integration of systems and personnel of the two companies, and
special risks, including possible unanticipated liabilities,
significant one-time write-offs or restructuring charges,
unanticipated costs and the loss of key employees. There can be
no assurance that there will be operational or other synergies
realized by the combined company, or that the integration of the
two companies&#146; operations, systems, management and cultures
will be timely or effectively accomplished, or ultimately will
be successful in increasing earnings and reducing costs. In
addition, synergies assume certain long-term realized gold
prices. If actual prices were below such assumed prices, that
could adversely affect the synergies to be realized.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The market and listing for Shares may be affected.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The purchase of any Shares by the Offeror pursuant to the Offer
will reduce the number of Shares that might otherwise trade
publicly, as well as the number of Shareholders, and, depending
on the number of Shareholders depositing and the number of
Shares purchased under the Offer, successful completion of the
Offer would likely adversely affect the liquidity and market
value of the remaining Shares held by the public. After the
purchase of the Shares under the Offer, it may be possible for
Placer Dome to take steps towards the elimination of any
applicable
</DIV>

<P align="center" style="font-size: 10pt;">44

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<DIV align="left" style="font-size: 10pt;">
public reporting requirements under applicable securities
legislation in any province of Canada or in the United States or
any other jurisdiction in which it has an insignificant number
of shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The rules and regulations of the NYSE and the TSX, respectively,
establish certain criteria that, if not met, could lead to the
delisting of the Shares from the NYSE and/or the TSX. Among such
criteria are the number of shareholders, the number of shares
publicly held and the aggregate market value of the shares
publicly held. Depending on the number of Shares purchased
pursuant to the Offer, it is possible that the Shares would fail
to meet the criteria for continued listing on the NYSE and/or
the TSX. If this were to happen, the Shares could be delisted
and this could, in turn, adversely affect the market or result
in a lack of an established market for the Shares. The Offeror
intends to cause Placer Dome to apply to delist the Shares from
the NYSE, the TSX, the ASX, Euronext-Paris and the
SWX&nbsp;Swiss Exchange and to delist the IDRs from
Euronext-Brussels as soon as practicable after the completion of
the Offer or any Compulsory Acquisition or Subsequent
Acquisition Transaction. The Offeror currently does not intend
to list the Barrick Common Shares on the ASX or
Euronext-Brussels.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>After the consummation of the Offer, Placer Dome would
become a majority-owned subsidiary of the Offeror and the
Offeror&#146;s interests could differ from that of the
Shareholders.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
After the consummation of the Offer, the Offeror would have the
power to elect the directors, appoint new management, or approve
certain actions requiring the approval of Shareholders,
including adopting certain amendments to Placer Dome&#146;s
constating documents and approving mergers or sales of Placer
Dome&#146;s assets. In particular, after the consummation of the
Offer, the Offeror intends to exercise its statutory right, if
available, to acquire all of the Shares not deposited pursuant
to the Offer or, if such statutory right of acquisition is not
available or the Offeror elects not to pursue such a right of
acquisition, to integrate Placer Dome and the Offeror, by
amalgamation, capital reorganization, share consolidation,
statutory arrangement or other transaction for the purpose of
enabling the Offeror or its affiliate to acquire all Shares not
acquired pursuant to the Offer. In any of these contexts, the
Offeror&#146;s interests with respect to Placer Dome may differ
from those of any remaining minority Shareholders who do not
deposit their Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The combination of the Offeror and Placer Dome may not be
successfully completed without the possibility of Shareholders
exercising dissent and appraisal rights in connection with a
Subsequent Acquisition Transaction.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In order for the Offeror to acquire all of the issued and
outstanding Shares, it will likely be necessary, following the
completion of the Offer, to effect a Subsequent Acquisition
Transaction. A Subsequent Acquisition Transaction may result in
Shareholders having the right to dissent and demand payment of
the fair value of their Shares. If the statutory procedures
governing dissent rights are available and are complied with,
this right could lead to judicial determination of the fair
value required to be paid to such dissenting Shareholders for
their Shares. There is no assurance that a Subsequent
Acquisition Transaction can be completed without Shareholders
exercising dissent rights in respect of substantial number of
Shares, which could result in the requirement to make a
substantial cash payment that could have an adverse effect on
the Offeror&#146;s financial position and liquidity.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The Offer is conditional upon, among other things, the
receipt of consents and approvals from governments that could
delay completion of the Offer or impose conditions that could
result in an adverse effect on the business or financial
condition of the Offeror.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offer is conditional upon, among other things, the Offeror
having obtained any government or regulatory approvals, consents
and clearances necessary or deemed advisable by the Offeror
including, without limitation, those under applicable
competition, merger control, antitrust or other similar laws. A
substantial delay in obtaining satisfactory approvals or the
imposition of unfavourable terms or conditions in the approvals
could have an adverse effect on the business, financial
condition or results of operations of the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The Offeror is subject to a broad range of environmental
laws and regulations in the jurisdictions in which it operates,
and if the Offer is successful, the Offeror may be exposed to
increased environmental costs and liabilities given Placer
Dome&#146;s operations.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Each of the Offeror and Placer Dome is subject to a broad range
of environmental laws and regulations in each of the
jurisdictions in which it operates. These laws and regulations,
as interpreted by relevant agencies and courts, impose
increasingly stringent environmental protection standards
regarding, among other things, air emissions, wastewater
storage, treatment and discharges, the use and handling of
hazardous or toxic materials, waste disposal practices and
remediation of environmental contamination. The costs of
complying with these laws and regulations, including
</DIV>

<P align="center" style="font-size: 10pt;">45

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<DIV align="left" style="font-size: 10pt;">
participation in assessments and remediation of sites, could be
significant. In addition, these standards can create the risk of
substantial environmental liabilities, including liabilities
associated with divested assets and past activities. Currently,
each of the Offeror and Placer Dome is involved in a number of
compliance efforts and legal proceedings concerning
environmental matters. Each of the Offeror and Placer Dome has
established reserves for environmental remediation activities
and liabilities. However, environmental matters cannot be
predicted with certainty, and these amounts may not be adequate,
especially in light of potential changes in environmental
conditions or the discovery of previously unknown environmental
conditions, the risk of governmental orders to carry out
additional compliance on certain sites not initially included in
remediation in progress, and the potential liability of each of
the Offeror and Placer Dome to remediate sites for which
provisions have not been previously established. Such future
developments could result in increased environmental costs and
liabilities that could have a material adverse effect on the
Offeror&#146;s financial position and results of operations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The Offeror may not realize the benefits of the combined
company&#146;s new projects.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As part of its strategy, the Offeror will continue its efforts
to develop new projects and will have an expanded portfolio of
such projects as a result of the combination with Placer Dome. A
number of risks and uncertainties are associated with the
development of these types of projects, including political,
regulatory, design, construction, labour, operating, technical
and technological risks, uncertainties relating to capital and
other costs and financing risks.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The Offeror may be subject to significant operating risks
associated with its expanded operations and its expanded
portfolio of projects.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If there are significant delays in the completion of projects
and when they commence producing on a commercial and consistent
scale, and/or their capital costs are significantly higher than
estimated, these events could have a significant adverse effect
on the Offeror&#146;s results of operations, cash flow from
operations and financial condition.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>The issuance of a significant number of Barrick Common
Shares and a resulting &#147;market overhang&#148; could
adversely affect the market price of Barrick Common Shares after
the take-up of Shares under the Offer.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If all of the Shares are tendered to the Offer, a significant
number of additional Barrick Common Shares will be available for
trading in the public market. The increase in the number of
Barrick Common Shares may lead to sales of such shares or the
perception that such sales may occur, either of which may
adversely affect the market for, and the market price of,
Barrick Common Shares. Moreover, in the event that any
Shareholder holding a significant percentage of Shares tenders
its Shares to the Offer in exchange for Barrick Common Shares,
such Shareholder will hold a significant percentage of Barrick
Common Shares after such take-up. The potential that such a
Shareholder may sell its Barrick Common Shares in the public
market (commonly referred to as &#147;market overhang&#148;), as
well as any actual sales of such Barrick Common Shares in the
public market, could adversely affect the market price of the
Barrick Common Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In assessing the Offer, Shareholders should also carefully
review the risks described in the Offeror&#146;s
Form&nbsp;40-F/Annual Information Form. In addition, Placer Dome
may be subject to risks that are not applicable or material to
the Offeror at the present time, but that may apply to the
combined company. Risk factors relating to Placer Dome can be
found in Placer Dome&#146;s annual information form dated
February&nbsp;23, 2005 filed with the Canadian provincial
securities regulatory authorities and the SEC.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='125'></A>
</DIV>

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<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>8.</B></TD>
    <TD>
    <B>Source of Funds</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
According to Placer Dome, as at October&nbsp;21, 2005, Placer
Dome had 436,679,863 Placer Dome Common Shares outstanding. As
at the same date, it had $230&nbsp;million in Convertible
Debentures outstanding, none of which was in a position to be
converted. If conversion were possible, the total number of
Shares that it would have to issue would be 10,991,631. As at
October&nbsp;21, 2005, Placer Dome had 14,110,052 Options
outstanding under its stock-based incentive plans. If all of
these Options were exercised, Placer Dome would have to issue
14,110,052&nbsp;Shares. The Offeror estimates that if it
acquires all of the Shares on a fully diluted basis pursuant to
the Offer, the total amount of cash required for the purchase of
such Shares and to cover related fees and expenses, estimated to
be approximately $25&nbsp;million in the aggregate, will be
approximately $1,249&nbsp;million.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The maximum amount of cash payable pursuant to the Offer is
$1,223,721,097 (based on the number of Shares outstanding on a
fully diluted basis on October&nbsp;21, 2005 as publicly
disclosed by Placer Dome). The Offeror intends to avail itself
of its Credit Facility (as defined below) to pay such cash
component of the purchase price for Shares
</DIV>

<P align="center" style="font-size: 10pt;">46

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
acquired under the Offer. To the extent that the funds available
under the Credit Facility are insufficient to pay such cash
component of the purchase price for Shares acquired under the
Offer, the Offeror intends to arrange either an increase in the
amount available under the Credit Facility or an additional
credit facility, of which the Offeror can avail itself to pay
the balance of such cash consideration. If such an increase or
additional facility cannot be arranged on terms satisfactory to
the Offeror, the Offeror will utilize its cash and cash
equivalents to pay the balance of such cash consideration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As of September&nbsp;30, 2005, the Offeror had cash and cash
equivalents of $1,105&nbsp;million. In addition, the Offeror is
party to a credit agreement providing the Offeror with a
revolving credit facility of up to $1&nbsp;billion (the
&#147;<B>Credit Facility</B>&#148;). The entire $1&nbsp;billion
amount provided under the Credit Facility is available for cash
borrowings. The Credit Facility is provided under an
April&nbsp;29, 2002 Credit and Guarantee Agreement between the
Offeror, as borrower and guarantor, the subsidiary borrowers
named from time to time therein, the lenders referred to
therein, Royal Bank of Canada, as administrative agent,
RBC&nbsp;Capital Markets, as lead arranger, and Citibank Canada,
as syndication agent and lead arranger. Unless extended in
accordance with its provisions, the Credit Facility will expire
on April&nbsp;28, 2010.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the Credit Facility, the Offeror has a number of interest
rate options available. For U.S.&nbsp;dollar loans, the Offeror
can select from (a)&nbsp;the greater of (i)&nbsp;Royal Bank of
Canada&#146;s announced prime rate and (ii)&nbsp;the Federal
funds rate plus 0.50%, or (b)&nbsp;a rate based on certain rates
offered for U.S.&nbsp;dollar deposits in the Eurodollar
interbank market plus a margin that fluctuates with the
Offeror&#146;s debt to cash flow ratio. For Canadian dollar
loans, the Offeror can select from (a)&nbsp;the greater of
(i)&nbsp;the Royal Bank of Canada&#146;s announced reference
rate and (ii)&nbsp;a rate equal to the sum of the rate
applicable to certain Canadian dollar bankers&#146; acceptances
plus 0.50%, or (b)&nbsp;a rate equal to the sum of the rate
applicable to certain Canadian dollar bankers&#146; acceptances
plus a margin that fluctuates with the Offeror&#146;s debt to
cash flow ratio.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Credit Facility is unsecured and requires the Offeror and
certain of its subsidiaries to satisfy a minimum consolidated
tangible net worth covenant. The Credit Facility contains other
covenants, including, without limitation, limitations on the
incurrence of certain indebtedness and restrictions on liens,
mergers, asset dispositions, terminations of contractual
obligations, dispositions of rights in certain material assets,
dispositions of certain material subsidiaries, transactions with
certain affiliates and the nature of the Offeror&#146;s
business. Each of these covenants is subject to certain
exceptions. The Credit Facility also contains representations
and warranties customary for credit facilities of this kind, the
accuracy of which is a condition to borrowings thereunder. The
Credit Facility does not contain limitations on the ability to
use borrowings thereunder in connection with the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Borrowings incurred in connection with the Offer may be
refinanced or repaid by the Offeror without restriction. The
Offeror currently expects to use the proceeds generated by the
sale of the Goldcorp Assets to Goldcorp as described under
&#147;Background to the Offer&nbsp;&#151; Goldcorp
Agreement&#148; in Section&nbsp;3 of the Circular to repay the
full amount drawn down under the Credit Facility in connection
with the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A copy of the Credit Facility has been filed as an exhibit to
the Schedule&nbsp;TO filed by the Offeror with the SEC in
connection with the Offer on November&nbsp;10, 2005, pursuant to
Rule&nbsp;14d-3 under the U.S. Exchange Act. Reference is made
to such exhibit for a more complete description of the terms and
conditions of the Credit Facility.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='126'></A>
</DIV>

<!-- link1 "9.Summary Historical and Unaudited Pro Forma Consolidated Financial Information" -->

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>9.</B></TD>
    <TD>
    <B>Summary Historical and Unaudited Pro Forma Consolidated
    Financial Information</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following tables include a summary of (i)&nbsp;the
Offeror&#146;s historical consolidated financial information for
the years ended December&nbsp;31, 2002, 2003 and 2004 and for
the nine months ended September&nbsp;30, 2005 and
(ii)&nbsp;unaudited pro forma consolidated financial information
for the Offeror for the nine months ended September&nbsp;30,
2005 and for the year ended December&nbsp;31, 2004. The
historical financial information for the year ended
December&nbsp;31, 2002, 2003 and 2004 has been derived from the
Offeror&#146;s audited consolidated financial statements. The
historical financial information for the nine months ended
September&nbsp;30, 2005 has been derived from the Offeror&#146;s
unaudited consolidated financial statements. The unaudited pro
forma consolidated financial information for the Offeror has
been derived from the unaudited comparative interim consolidated
financial statements of the Offeror and Placer Dome for the nine
months ended September&nbsp;30, 2005, the audited comparative
consolidated financial statements of the Offeror and Placer Dome
for the year ended December&nbsp;31, 2004 and such other
supplementary information as was available to the Offeror and
considered necessary to give pro forma effect to the acquisition
of Placer Dome by the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The summary unaudited pro forma consolidated financial statement
information set forth below should be read in conjunction with
the unaudited pro forma consolidated financial statements of the
Offeror, the accompanying notes thereto and the compilation
report of PricewaterhouseCoopers LLP thereon included in the
Circular. The summary
</DIV>

<P align="center" style="font-size: 10pt;">47

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
unaudited pro forma consolidated financial statement information
for the Offeror gives effect to the proposed acquisition of
Placer Dome as if it had occurred as at September&nbsp;30, 2005
for the purposes of the pro forma consolidated balance sheet
information and as at January&nbsp;1, 2004 for the purposes of
the pro forma consolidated statements of income for the periods
ended December&nbsp;31, 2004 and September&nbsp;30, 2005. In
preparing the unaudited pro forma consolidated financial
statement information, management of the Offeror has made
certain assumptions that affect the amounts reported in the pro
forma consolidated financial statement information. The summary
unaudited pro forma consolidated financial information is not
intended to be indicative of the results that would actually
have occurred, or the results expected in future periods, had
the events reflected herein occurred on the dates indicated.
Actual amounts recorded upon consummation of the transaction
contemplated by the Offer will differ from the pro forma
information presented below. <B>No attempt has been made to
calculate or estimate the effect of harmonization of accounting
policies or practices between the Offeror and Placer Dome due to
the limited publicly available information. Any potential
synergies that may be realized after consummation of the
transaction have been excluded from the unaudited pro forma
financial statement information. The effect of the Goldcorp
Transaction on the financial position and results of operations
of the Offeror has not been reflected in the unaudited pro forma
consolidated financial statement information set forth below
because of lack of complete publicly available information
relating to the assets, liabilities, revenues and expenses of
the Goldcorp Assets and Goldcorp Liabilities and also because
the final price adjustments relating to the Goldcorp Agreement
cannot be definitively estimated at the date hereof.</B> The
unaudited pro forma consolidated financial statement information
set forth below is extracted from and should be read in
conjunction with the unaudited pro forma consolidated financial
statements of the Offeror and accompanying notes included in
Schedule&nbsp;A to the Circular.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 15pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>



<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Year Ended</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>Nine Months Ended</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>December&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>December&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>December&nbsp;31, 2004</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>September&nbsp;30, 2005</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2002</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2003</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro forma</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="22" align="center" nowrap>(in millions of dollars, except per share data in dollars)</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Statement of Income Data</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,967</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,035</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,932</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,820</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,574</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,013</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income before cumulative effect&nbsp;of changes in accounting
    principles</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>193</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>217</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>248</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>522</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>220</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>278</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>193</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>248</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>526</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>226</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>270</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income per share before cumulative effect of&nbsp;changes in
    accounting principles&nbsp;&#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.40</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.47</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;
    diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.40</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.63</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income per share &#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.47</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.42</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;
    diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.42</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Dividends per share</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>N/A</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>0.11</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>N/A</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">48

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 27pt; ">

<TR style="font-size: 1pt;">
    <TD width="46%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As at</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As at</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>December&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>December&nbsp;31,</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>As at September&nbsp;30, 2005</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2003</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>2004</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro forma</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap>(in millions of dollars, except shares in millions and</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="14" align="center" nowrap>per share data in dollars)</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Balance Sheet Data</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cash and cash equivalents</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>970</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,398</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,105</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,213</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Restricted cash</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>153</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other current assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>398</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>559</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>735</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,281</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Property, plant and equipment</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,128</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,391</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,982</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6,573</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Unallocated purchase price</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,336</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other non-current assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>862</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>926</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>968</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,645</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>5,358</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,274</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,790</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>19,201</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Current liabilities excluding current portion of
    long-term&nbsp;debt</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>323</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>387</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>460</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>793</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total
    debt<SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>760</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,686</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,813</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,333</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other long-term obligations</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>781</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>638</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>713</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,313</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total shareholders&#146; equity</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,494</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,563</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,804</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11,762</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total liabilities and shareholders&#146; equity</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>5,358</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,274</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,790</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>19,201</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Common shares outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>535</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>534</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>538</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>831</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Book value per
    share<SUP style="font-size: 85%; vertical-align: text-top">(2)</SUP></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6.68</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7.07</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.16</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(1)</TD>
    <TD align="left">
    Pro forma balance includes temporary debt financing of
    $1,224&nbsp;million, representing the maximum cash consideration
    under the Offer, which is expected to be repaid with the
    proceeds of approximately $1,350 million to be received on
    completion of the Goldcorp Transaction.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)</TD>
    <TD align="left">
    Total assets less total liabilities divided by common shares
    outstanding.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
<A name='127'></A>
</DIV>

<!-- link1 "10.Certain Information Concerning the Offeror and Its Shares" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>10.</B></TD>
    <TD>
    <B>Certain Information Concerning the Offeror and Its Shares</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Authorized and Outstanding Share Capital</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The authorized share capital of the Offeror consists of an
unlimited number of Barrick Common Shares and an unlimited
number of first preferred and second preferred shares issuable
in series. As of November&nbsp;8, 2005, there were 537,228,532
Barrick Common Shares issued and outstanding and one first
preferred, Series&nbsp;C special voting share issued and
outstanding. One of the Offeror&#146;s subsidiaries, Barrick
Gold Inc., has outstanding 1,373,070 exchangeable shares
(excluding those held by the Offeror and its affiliates),
exchangeable into 727,727 Barrick Common Shares. As of
November&nbsp;8, 2005, options to acquire an aggregate of
20,821,179 Barrick Common Shares were outstanding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Holders of Barrick Common Shares are entitled to one vote for
each share on all matters submitted to a vote of shareholders
(with no cumulative voting rights) and to receive notice of and
to attend all annual and special meetings of the Offeror.
Holders of Barrick Common Shares are entitled to receive
dividends if, as and when declared by the board of directors of
the Offeror in respect of the Barrick Common Shares. Subject to
the prior rights of the holders, if any, of the first preferred
shares and second preferred shares then outstanding and of the
shares then outstanding of any other class ranking senior to the
Barrick Common Shares, the holders of Barrick Common Shares are
entitled to share rateably in any distribution of the assets of
the Offeror on liquidation, dissolution or winding-up.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Dividend and Dividend Policy</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In each of 2002, 2003 and 2004, the Offeror paid a total cash
dividend of $0.22 per share&nbsp;&#151; $0.11 in mid-June and
$0.11 in mid-December. The amount and timing of any dividends is
within the discretion of the Offeror&#146;s board of directors.
The Offeror&#146;s board of directors reviews the dividend
policy semi-annually based on the cash requirements of the
Offeror&#146;s operating assets, exploration and development
activities, as well as potential acquisitions, combined with the
current and projected financial position of the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On October&nbsp;27, 2005, the Offeror declared a dividend of
$0.11 per Barrick Common Share, payable on December&nbsp;15,
2005 to shareholders of record at the close of business on
November&nbsp;30, 2005. A dividend of $0.11&nbsp;per Barrick
Common Share was paid on June&nbsp;15, 2005.
</DIV>

<P align="center" style="font-size: 10pt;">49
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Price Range and Trading Volumes of the Barrick Common
Shares</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The principal markets on which the Barrick Common Shares trade
are the TSX and the NYSE. The following table sets forth, for
the periods indicated, the reported high and low trading prices
and the aggregate volume of trading of the Barrick Common Shares
on the TSX and the NYSE:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="41%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="10" align="center" nowrap><B>NYSE</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="10" align="center" nowrap><B>TSX</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="10" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="10" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="center" nowrap><B>Period</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Volume</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Volume</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap>(US$)</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap>(US$)</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap>(Cdn.$)</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap>(Cdn.$)</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>2005</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    November (to November&nbsp;8, 2005)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25.55</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.58</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18,555,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30.39</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.96</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17,814,535</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    October</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29.12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.81</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>47,393,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34.01</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29.23</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>40,399,450</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    September</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29.95</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26.68</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>50,047,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35.05</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>31.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>43,103,485</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    August</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>27.97</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>39,898,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33.40</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>36,370,255</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    July</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25.37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,930,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30.70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.55</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24,127,768</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    June</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25.90</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22.45</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32,701,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>31.80</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29,880,127</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    May</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.34</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26,701,600</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29.09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26.80</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19,640,548</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    April</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.49</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.51</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>33,153,000</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29.90</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26.92</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35,003,117</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    March</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26.32</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.55</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30,276,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>31.71</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34,893,083</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    February</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25.29</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.27</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29,247,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>31.38</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26.66</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28,037,124</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    January</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.97</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.72</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28,821,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.57</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26.54</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>27,248,948</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="25">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>2004</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    December</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25.00</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22.40</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35,503,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29.79</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>27.30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29,887,612</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    November</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25.52</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>44,196,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25.85</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35,970,317</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Source: NYSEnet and TSX Historical Data Access
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 26%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;
The closing price of the Barrick Common Shares on the NYSE and
the TSX on October&nbsp;28, 2005, the last trading day prior to
the announcement of the Offer, was $27.20 and Cdn.$31.84,
respectively.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Summary Comparison of Differences Between the OBCA and
CBCA</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror is an Ontario corporation whose shares are governed
by the OBCA and Placer Dome is a Canadian corporation whose
shares are governed by the CBCA. The OBCA and CBCA provide
substantially the same rights to shareholders, including rights
of dissent and appraisal, and rights to bring derivative actions
and oppression actions. However, there are certain differences
between the two statutes and the regulations thereunder. The
following is a summary of certain differences between the OBCA
and the CBCA which management of the Offeror considers to be
material to shareholders. <B>This summary is not an exhaustive
review of the two statutes. Reference should be made to the full
text of both statutes and the regulations thereunder for
particulars of any differences between them, and Shareholders
should consult their legal or other professional advisors with
regard to the implications of the Offer.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Director Residency Requirements.</I> Under the CBCA, subject
to certain exceptions which do not currently apply to Placer
Dome, at least 25% of a corporation&#146;s directors must be
resident Canadians. Under the OBCA, a majority of a
corporation&#146;s directors must be resident Canadians.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Residency Requirements for Committee Members.</I> The CBCA
does not have any residency requirements for members of
committees of the board of directors, whereas the OBCA requires
that a majority of the members of a committee of the board of
directors be resident Canadians.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Quorum at Directors&#146; Meetings. </I>Both the CBCA and
OBCA state that, subject to the articles and by-laws of the
corporation, a quorum at directors&#146; meetings is a majority
of directors or the minimum number of directors required by the
articles. The OBCA adds that a quorum may not be less than
two-fifths of the number of directors or the minimum number of
directors, as the case may be, and where a corporation has fewer
than three directors, all the directors must be present to
constitute a quorum.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the CBCA, to transact business at a directors&#146;
meeting, at least 25% of the directors in attendance must be
resident Canadians (or one must be resident Canadian if the
corporation has fewer than four directors). Under the OBCA, to
transact business at a directors&#146; meeting, a majority of
the directors in attendance must be resident Canadians
</DIV>

<P align="center" style="font-size: 10pt;">50
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
(or one must be resident Canadian if the corporation has fewer
than three directors). However, both the CBCA and the OBCA
provide for an exception to the residency requirement if a
resident Canadian director who is unable to attend the meeting
approves the business transacted at the meeting and a majority
of Canadian resident directors would have been present had that
director attended the meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Independent Directors.</I> The CBCA requires that at least
two of the directors of the corporation not be officers or
employees of the corporation or its affiliates (as defined in
the CBCA). Under the OBCA, at least one-third of the members of
the board of directors of a corporation cannot be officers or
employees of the corporation or its affiliates (as defined in
the OBCA).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Place of Shareholders&#146; Meetings. </I>Under the CBCA, a
shareholders&#146; meeting may be held at the place in Canada
provided in the by-laws or, in the absence of such provision, at
a place within Canada that the directors determine.
Notwithstanding the foregoing, a meeting of shareholders of a
CBCA corporation may be held at a place outside Canada if such
place is specified in the articles of the corporation or agreed
to by all the shareholders entitled to vote at the meeting.
Under the OBCA, a shareholders&#146; meeting may be held at such
place in or outside Ontario as the directors may determine.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Solicitation of Proxies. </I>Under the CBCA, proxies may be
solicited, other than by or on behalf of management of the
corporation, without the sending of a dissident&#146;s proxy
circular, if (i)&nbsp;proxies are solicited from 15 or fewer
shareholders, or (ii)&nbsp;the solicitation is conveyed by
public broadcast, speech or publication containing certain of
the information that would be required to be included in a
dissident&#146;s proxy circular. Furthermore, under the CBCA,
the definition of &#147;solicit&#148; and
&#147;solicitation&#148; specifically excludes (i)&nbsp;certain
public announcements by a shareholder of how he or she intends
to vote and the reasons for that decision,
(ii)&nbsp;communications for the purpose of obtaining the number
of shares required for a shareholder proposal, and
(iii)&nbsp;certain other communications made other than by or on
behalf of management of the corporation, including
communications by one or more shareholders concerning the
business and affairs of the corporation or the organization of a
dissident&#146;s proxy solicitation where no form of proxy is
sent by or on behalf of such shareholders, under certain
prescribed conditions, by financial and other advisors in the
ordinary course of business to shareholders who are their
clients, or by any person who does not seek directly or
indirectly the power to act as proxy for a shareholder. Under
the OBCA, a person who solicits proxies, other than by or on
behalf of management of the corporation, must send a
dissident&#146;s proxy circular in the prescribed form to the
auditor of the corporation, each shareholder whose proxy is
solicited and the corporation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Record Date for Shareholders&#146; Meetings. </I>Under the
CBCA and the OBCA, where a corporation fixes a record date for
the determination of shareholders entitled to vote at a
shareholders&#146; meeting, shareholders are entitled to vote
only those shares held by them on the record date. If no record
date is fixed and a list of shareholders entitled to vote at the
meeting is prepared as of the date preceding the date on which
notice of the meeting is given (the &#147;<B>deemed record
date</B>&#148;), shareholders are entitled to vote those shares
held by them on the deemed record date. Under the CBCA,
transferees of shares after the record date or the deemed record
date, as applicable, are not entitled to vote the transferred
shares at the meeting. Conversely, under the OBCA, if a
shareholder transfers shares after the record date or the deemed
record date, as applicable, the transferee of such shares is
entitled to vote such shares at the meeting if the transferee
establishes that he or she owns the shares and demands, not
later than ten days before the meeting, that his or her name be
included in the list of shareholders entitled to vote at the
meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Notice of Shareholders&#146; Meetings. </I>Under the CBCA, a
public corporation must give notice of a shareholders&#146;
meeting not less than 21&nbsp;days and not more than
60&nbsp;days before the meeting. Under the OBCA, such notice
must be provided not less than 21&nbsp;days and not more than
50&nbsp;days before the meeting. Notwithstanding the foregoing,
Canadian public companies regardless of their governing statutes
are subject to the requirements of National Instrument 54-101 of
the Canadian Securities Administrators which provides for a
minimum notice period which is greater than the minimum 21-day
period provided for in the CBCA and OBCA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Telephonic or Electronic Meetings. </I>Under the CBCA, unless
the by-laws of the corporation provide otherwise, a meeting of
shareholders may be held by telephonic, electronic or other
communication facility (and shareholders may participate in and
vote at the meeting by such means) if such facility is made
available by the corporation and permits all participants to
communicate adequately with each other during the meeting. In
addition, under the CBCA, if the corporation&#146;s by-laws so
provide, a meeting of shareholders may be held entirely by such
means. Under the OBCA, unless a corporation&#146;s articles or
by-laws provide otherwise, meetings of shareholders may be held
by telephonic or electronic means and shareholders may
participate in and vote at the meeting by such means.
</DIV>

<P align="center" style="font-size: 10pt;">51

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Shareholder Proposals. </I>The CBCA provides that shareholder
proposals may be submitted by both registered and beneficial
owners of shares entitled to be voted at an annual meeting of
shareholders, provided that (i)&nbsp;the shareholder must have
been the registered or beneficial owner, for at least six months
prior to the submission of the proposal, of voting shares at
least equal to one percent of the total number of outstanding
voting shares of the corporation or whose fair market value is
at least Cdn.$2,000, or (ii)&nbsp;the proposal must have the
support of persons who in the aggregate have been the registered
or beneficial owners of such number of voting shares for such
period. Under the OBCA, a shareholder entitled to vote at a
shareholders&#146; meeting may submit a shareholder proposal
relating to matters which the shareholder wishes to propose at a
shareholders&#146; meeting.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<I>Financial Assistance. </I>The regulations under the CBCA
require disclosure in proxy circulars of (i)&nbsp;certain
material financial assistance given by the corporation in
connection with a purchase of shares of the corporation, or to
shareholders of the corporation or any of its affiliates (as
defined in the CBCA) (who are not directors, officers or
employees of the corporation or its affiliates, as the case may
be) or to an associate (as defined in the CBCA) of such
shareholders, and (ii)&nbsp;certain financial assistance other
than routine indebtedness to directors, executive officers and
senior officers. The OBCA requires disclosure to shareholders of
financial assistance given by the corporation (i)&nbsp;in
connection with the purchase of shares (or securities
convertible into or exchangeable for shares) of the corporation
or its affiliates (as defined under the OBCA), or (ii)&nbsp;to
shareholders, beneficial shareholders, directors, officers or
employees of the corporation, an affiliate (as defined under the
OBCA) of the corporation or an associate (as defined under the
OBCA) of any of them.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='148'></A>
</DIV>

<!-- link1 "11.Documents Incorporated by Reference" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>11.</B></TD>
    <TD>
    <B>Documents Incorporated by Reference</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following documents, filed with the various securities
commissions or similar authorities in certain of the provinces
of Canada, are specifically incorporated by reference into and
form an integral part of the Offer and Circular:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    the Form&nbsp;40-F/ Annual Information Form;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    the Management Information Circular of the Offeror dated
    March&nbsp;14, 2005 prepared in connection with the annual
    meeting of shareholders of the Offeror held on April&nbsp;28,
    2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    the comparative audited consolidated financial statements of the
    Offeror and the notes thereto as at December&nbsp;31, 2004 and
    2003 and for each of the years in the three-year period ended
    December&nbsp;31, 2004, together with the report of the auditors
    thereon, found at pages 75 through 124 of the 2004 Annual Report
    of the Offeror and management&#146;s discussion and analysis of
    financial results found at pages 25 through 73 thereof;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    the comparative unaudited consolidated financial statements of
    the Offeror and the notes thereto as at September&nbsp;30, 2005
    and for the nine months ended September&nbsp;30, 2005 and 2004,
    together with management&#146;s discussion and analysis of
    financial results found at pages 6 through 20 of the
    Offeror&#146;s third quarter report in respect of the quarter
    ended September&nbsp;30, 2005;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(e)</TD>
    <TD align="left">
    the material change report dated January&nbsp;28, 2005 relating
    to the decision by the Peruvian tax authority, SUNAT, not to
    appeal the Tax Court&#146;s decision in favour of the Offeror
    regarding SUNAT&#146;s tax assessment of the Pierina Mine for
    the 1999 and 2000 fiscal years; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(f)</TD>
    <TD align="left">
    the material change report dated November&nbsp;9, 2005 relating
    to the Offeror&#146;s intention to make the Offer and the
    entering into of the Goldcorp Agreement.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Information has been incorporated by reference in the Offer
and Circular from documents filed with the securities
commissions or similar authorities in Canada. Copies of these
documents may be obtained on request without charge from the
Vice President, Assistant General Counsel and Secretary of the
Offeror, BCE Place, Canada Trust&nbsp;Tower, Suite&nbsp;3700,
161 Bay Street, P.O. Box 212, Toronto, Ontario M5J 2S1,
telephone 416-861-9911 or may be obtained through the SEDAR
website at <U>www.sedar.com</U>. For the purpose of the Province
of Qu&#233;bec, the Circular contains information to be
completed by consulting the permanent information record. A copy
of the permanent information record may be obtained from the
Vice President, Assistant General Counsel and Secretary of the
Offeror at the above-mentioned address and telephone number.
Copies of all documents incorporated by reference in the Offer
and Circular are available at
<U>www.barrick.com/offertoplacer</U>.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All material change reports (excluding confidential reports),
financial statements (including any report of the auditor, where
applicable), management&#146;s discussion and analysis, annual
information forms and information circulars
</DIV>

<P align="center" style="font-size: 10pt;">52

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<DIV align="left" style="font-size: 10pt;">
filed by the Offeror with securities commissions or similar
authorities in the provinces of Canada after the date of the
Circular and before the Expiry Time shall be deemed to be
incorporated by reference into the Offer and Circular. Other
than the announcement of the Offer and the entering into of the
Goldcorp Agreement, the Offeror is not aware of any information
that indicates any material change in the affairs of the Offeror
since the date of the last published financial statements of the
Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any statement contained in the Offer and Circular or a document
incorporated or deemed to be incorporated by reference in the
Offer and Circular shall be deemed to be modified or superseded
for purposes of the Offer and Circular to the extent that a
statement contained in the Offer and Circular or in any other
subsequently filed document which also is or is deemed to be
incorporated by reference in the Offer and Circular modifies or
supersedes such statement. The making of a modifying or
superseding statement shall not be deemed an admission for any
purpose that the modified or superseded statement, when made,
constituted a misrepresentation, an untrue statement of a
material fact or an omission to state a material fact that is
required to be stated or that is necessary to make a statement
not misleading in light of the circumstances in which it was
made. The modifying or superseding statement need not state that
it has modified or superseded a prior statement or include any
other information set forth in the document that it modifies or
supersedes. Any statement so modified or superseded shall not be
deemed to constitute a part of the Offer and Circular, except as
so modified or superseded.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Information contained in or otherwise accessed through the
Offeror&#146;s website, <U>www.barrick.com</U>,
<U>www.barrick.com/offertoplacer</U> or any other website, does
not form part of the Offer and Circular. All such references to
the Offeror&#146;s website are inactive textual references only.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='128'></A>
</DIV>

<!-- link1 "12.Ownership of and Trading in Shares of Placer Dome" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>12.</B></TD>
    <TD>
    <B>Ownership of and Trading in Shares of Placer Dome</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No securities of Placer Dome, other than 2,000&nbsp;Shares held
by Ammar Al-Joundi, a senior officer of the Offeror,
17,500&nbsp;Shares held, directly or indirectly, by
Angus&nbsp;A. MacNaughton, a director of the Offeror, and
760&nbsp;Shares held by Steven&nbsp;J. Shapiro, a director of
the Offeror, are beneficially owned, directly or indirectly, nor
is control or direction exercised over any securities of Placer
Dome, by the Offeror or its directors or senior officers, or to
the knowledge of the directors and senior officers of the
Offeror, after reasonable enquiry by (i)&nbsp;any associates of
a director or senior officer of the Offeror, (ii)&nbsp;any
person or company acting jointly or in concert with the Offeror,
or (iii)&nbsp;any person or company holding more than 10% of any
class of equity securities of the Offeror. There is no person
acting jointly or in concert with the Offeror in connection with
the Offer. Each of the above-named directors and officers
intends to tender his Shares pursuant to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To the knowledge of the Offeror and its directors and senior
officers, after reasonable enquiry, none of the persons referred
to above has traded in any securities of Placer Dome during the
six months preceding the date of the Offer and Circular except
for Ammar Al-Joundi who acquired 700&nbsp;Shares at a price of
Cdn.$18.95 and 1,300&nbsp;Shares at a price of Cdn.$18.96, both
on June&nbsp;23, 2005, Angus&nbsp;A. MacNaughton who, as a
result of the exercise of put options, indirectly acquired
2,500&nbsp;Shares at a price of $22.65 on May&nbsp;10, 2005,
700&nbsp;Shares at a price of $22.65 on May&nbsp;11, 2005,
100&nbsp;Shares at a price of $22.65 on June&nbsp;14, 2005 and
4,700&nbsp;Shares at a price of $22.65 on June&nbsp;18, 2005,
and Steven&nbsp;J. Shapiro who acquired 205&nbsp;Shares at a
price of $13.27 on May&nbsp;25, 2005. The Offeror has not
purchased or sold any securities of Placer Dome during the
twelve months preceding the date of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='129'></A>
</DIV>

<!-- link1 "13.Commitments to Acquire Shares of Placer Dome" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>13.</B></TD>
    <TD>
    <B>Commitments to Acquire Shares of Placer Dome</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Other than pursuant to the Offer, there are no commitments to
acquire Shares or other securities of Placer Dome by the Offeror
or its directors or senior officers or, to the knowledge of the
directors and senior officers of the Offeror, after reasonable
enquiry, by (i)&nbsp;any associates of a director or senior
officer of the Offeror, (ii)&nbsp;any person or company acting
jointly or in concert with the Offeror, or (iii)&nbsp;any person
or company holding more than 10% of any class of equity
securities of the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='130'></A>
</DIV>

<!-- link1 "14.Arrangements, Agreements or Understandings" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>14.</B></TD>
    <TD>
    <B>Arrangements, Agreements or Understandings</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
There are no arrangements or agreements made or proposed to be
made between the Offeror and any of the directors or senior
officers of Placer Dome.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
There are no contracts, arrangements or understandings, formal
or informal, between the Offeror and any securityholder of
Placer Dome with respect to the Offer or between the Offeror and
any person or company with respect to any securities of Placer
Dome in relation to the Offer.
</DIV>

<P align="center" style="font-size: 10pt;">53
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='149'></A>
</DIV>

<!-- link1 "15.Benefits from the Offer" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>15.</B></TD>
    <TD>
    <B>Benefits from the Offer</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No person named under &#147;Ownership and Trading in Shares of
Placer Dome&#148; in Section&nbsp;12 of the Circular will
receive any direct or indirect benefit from the consummation of
the Offer, any Compulsory Acquisition or Subsequent Acquisition
Transaction or the Goldcorp Transaction or from accepting or
refusing to accept the Offer, other than the consideration
available to any Shareholder who participates in the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='131'></A>
</DIV>

<!-- link1 "16.Material Changes and Other Information Concerning Placer Dome" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>16.</B></TD>
    <TD>
    <B>Material Changes and Other Information Concerning Placer
    Dome</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror has no information that indicates any material
change in the affairs of Placer Dome since the date of the last
published financial statements of Placer Dome other than as has
been publicly disclosed by Placer Dome. The Offeror has no
knowledge of any material fact concerning securities of Placer
Dome that has not been generally disclosed by Placer Dome or any
other matter that has not previously been generally disclosed
but which would reasonably be expected to affect the decision of
Shareholders to accept or reject the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='132'></A>
</DIV>

<!-- link1 "17.Certain Information Concerning Placer Dome and Its Shares" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>17.</B></TD>
    <TD>
    <B>Certain Information Concerning Placer Dome and Its Shares</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Authorized and Outstanding Capital</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Based on publicly available information, the authorized share
capital of Placer Dome is comprised of an unlimited number of
Placer Dome Common Shares without par value carrying one vote
per share and an unlimited number of preferred shares without
par value, issuable in series. On October&nbsp;21, 2005, there
were 436,679,863 Placer Dome Common Shares and no preferred
shares of Placer Dome issued and outstanding.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror understands that as at October&nbsp;21, 2005, Placer
Dome had Convertible Debentures in the aggregate principal
amount of $230&nbsp;million outstanding (none of which was in a
position to be converted), and 14,110,052 Options outstanding
which, if exercised on that date, would give rise to the
issuance of 14,110,052 Placer Dome Common Shares. The Offeror
understands that there are no other rights, agreements or
commitments of any nature requiring the issuance, sale or
transfer by Placer Dome of any Shares or any securities
convertible into, or exchangeable or exercisable for, or that
otherwise evidence a right to acquire any Shares, except the SRP
Rights.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Dividends and Dividend Policy</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
According to publicly available information, there are no
restrictions on the payment of dividends by Placer Dome. Placer
Dome paid cash dividends totalling $0.10 per Share in each of
2002, 2003, and 2004. A dividend of $0.05 per Share was paid in
each of the months of April and September 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Previous Distributions of Shares</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following is based on publicly available information
disclosed by Placer Dome. On November&nbsp;23, 2004, Placer Dome
completed an equity offering of 21,275,000 Shares at a price of
$22.00 per share for aggregate gross proceeds of $468,050,000.
In addition, on December&nbsp;31, 2002, Placer Dome completed
the acquisition of 100% of the outstanding shares of AurionGold
Limited in exchange for the issuance of 77,934,094 Shares and
the payment of $63&nbsp;million in cash to the shareholders of
AurionGold Limited. The Offeror believes that the foregoing are
the only distributions of the Shares effected during the five
most recently completed fiscal years of Placer Dome, other than
any distributions of Shares pursuant to Stock Option Plans.
</DIV>

<P align="center" style="font-size: 10pt;">54

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Price Range and Trading Volumes of the Shares</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The principal markets on which the Shares trade are the TSX and
the NYSE. The following table sets forth, for the periods
indicated, the reported high and low trading prices and the
aggregate volumes of trading of the Shares on the TSX and the
NYSE:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="38%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="10" align="center" nowrap><B>NYSE</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="10" align="center" nowrap><B>TSX</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="10" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="10" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Calendar Period</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Volume</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>High</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Low</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Volume</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap>(US$)</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap>(US$)</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap>(Cdn.$)</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap>(Cdn.$)</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>2005</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    November (to November&nbsp;8, 2005)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.84</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.20</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>27,406,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22.62</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>30,110,739</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    October</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>20.09</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>53,717,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.07</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>53,835,087</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    September</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17.90</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.79</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>48,657,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.13</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17.52</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>50,036,370</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    August</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15.79</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13.83</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32,240,400</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.89</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.44</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>38,472,808</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    July</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13.41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>29,644,800</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.55</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34,054,942</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    June</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15.88</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13.38</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37,158,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.56</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.52</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>52,254,138</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    May</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.06</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12.10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>40,622,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17.41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15.35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35,298,369</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    April</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.17</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13.26</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>38,859,500</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.58</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>46,455,852</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    March</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.07</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15.72</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37,773,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.04</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>47,140,673</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    February</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15.86</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>40,186,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.92</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>48,082,581</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    January</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.69</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.82</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>32,511,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22.65</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>20.80</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34,069,596</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="25">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>2004</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    December</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.65</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>34,328,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25.68</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22.10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>35,648,133</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    November</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.67</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>20.29</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>38,931,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.24</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.91</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>41,609,423</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="25">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>2005</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    July - September</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17.90</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13.41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>110,542,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>21.13</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.30</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>122,564,120</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    April - June</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>16.17</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12.10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>116,641,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15.35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>134,008,359</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    January - March</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15.72</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>110,471,800</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.04</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>129,292,850</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="25">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>2004</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    October - December</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.67</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.12</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>108,650,900</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28.24</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22.10</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>121,467,491</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    July - September</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.99</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14.77</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>77,224,100</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25.24</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.75</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>95,112,832</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    April - June</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.34</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12.89</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>101,362,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>23.98</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17.95</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>114,839,850</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    January - March</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>19.22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>15.21</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>115,640,700</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>20.35</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>122,624,157</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="25">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>2003</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    October - December</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>18.71</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>13.19</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>119,738,800</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>24.36</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>17.54</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>135,926,738</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Source: NYSEnet and TSX Historical Data Access
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 26%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;
The closing price of the Shares on the NYSE and the TSX on
October&nbsp;28, 2005, the last trading day prior to the
announcement of the Offer, was $16.51 and Cdn.$19.49,
respectively. The Offer price of $20.50 per Share represents a
premium of approximately 24% over the closing price of the
Shares on the NYSE on October&nbsp;28, 2005. The Offer price of
$20.50 also represents a premium of approximately 27% over the
average closing price of the Shares on the NYSE on the ten
trading days immediately preceding the date of the
Offeror&#146;s announcement of its intention to make the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='133'></A>
</DIV>

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<TR valign="top">
    <TD><B>18.</B></TD>
    <TD>
    <B>Effect of the Offer on the Market for Shares; Stock Exchange
    Listing and Public Disclosure</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I>Market for Shares.</I></B> The purchase of Shares by the
Offeror pursuant to the Offer will reduce the number of Shares
that might otherwise trade publicly and may reduce the number of
holders of Shares and, depending on the number of Shares
purchased, could adversely affect the liquidity and market value
of the remaining Shares held by the public.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I>Listing and Quotations.</I></B> The rules and regulations
of the Listing Exchanges on which the Shares (or CDIs or IDRs)
are traded establish certain criteria which, if not met, could
lead to the delisting of Shares (or CDIs or IDRs) from the
Listing Exchanges. Among such criteria are the number of
Shareholders, the number of Shares publicly held
</DIV>

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<DIV align="left" style="font-size: 10pt;">
and the aggregate market value of the Shares publicly held.
Depending upon the number of Shares purchased pursuant to the
Offer, it is possible the Shares (or CDIs or IDRs) would fail to
meet the criteria for continued listing on the Listing
Exchanges. If this were to happen, the Shares (or CDIs or IDRs)
could be delisted on one or more of the Listing Exchanges and
this could, in turn, adversely affect the market or result in a
lack of an established market for the Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Offeror acquires the Shares not deposited pursuant to the
Offer pursuant to a Compulsory Acquisition or a Subsequent
Acquisition Transaction, it is the intention of the Offeror to
apply to delist the Shares (and CDIs and IDRs) from the Listing
Exchanges as soon as practicable after completion of the Offer
or a Compulsory Acquisition or Subsequent Acquisition
Transaction, if required.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I>Public Disclosure by Placer Dome.</I></B> After the
purchase of the Shares under the Offer and any Compulsory
Acquisition or Subsequent Acquisition Transaction, Placer Dome
may cease to be subject to the public reporting and proxy
solicitation requirements of the CBCA and the securities Laws of
certain provinces of Canada and such other jurisdictions where
Placer Dome has similar obligations. Furthermore, it may be
possible for Placer Dome to request the elimination of the
public reporting requirements of any province or jurisdiction
where a small number of Shareholders reside. If permitted by
Law, subsequent to the completion of the Offer and any
Compulsory Acquisition or Subsequent Acquisition Transaction,
the Offeror intends to cause Placer Dome to cease to be a
reporting issuer under the securities Laws of each province of
Canada and to cease to have public reporting obligations in any
other jurisdiction where it currently has such obligations.
However, for so long as Placer Dome has public debt outstanding,
there may be limitations on its ability to cease to be a
reporting issuer and to cease to have public reporting
obligations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the United States, the Shares are currently registered under
the U.S.&nbsp;Exchange Act. Such registration may be terminated
upon application by Placer Dome to the SEC if the Shares are not
listed on a U.S. national securities exchange or quoted on
NASDAQ and there are fewer than 300 record holders of the
Shares. The termination of registration of the Shares under the
U.S.&nbsp;Exchange Act would substantially reduce the
information required to be furnished by Placer Dome to
Shareholders and to the SEC and would make certain provisions of
the U.S.&nbsp;Exchange Act, such as the disclosure requirements
of the U.S. Sarbanes-Oxley Act of 2002 and the requirements of
Rule&nbsp;13e-3 under the U.S.&nbsp;Exchange Act with respect to
&#147;going-private&#148; transactions, no longer applicable to
Placer Dome. In addition, &#147;affiliates&#148; of Placer Dome
and persons holding &#147;restricted securities&#148; of Placer
Dome might be deprived of the ability to dispose of such
securities pursuant to Rule&nbsp;144 promulgated under the U.S.
Securities Act. The Offeror intends to seek to cause Placer Dome
to terminate registration of the Shares under the
U.S.&nbsp;Exchange Act as soon as practicable after consummation
of the Offer pursuant to the requirements for termination of
registration of the Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B><I>Margin Regulations.</I></B> The Shares are currently
&#147;margin securities&#148; under the regulations of the U.S.
Board of Governors of the Federal Reserve System (the
&#147;<B>Federal Reserve Board</B>&#148;), which has the effect,
among other things, of allowing brokers to extend credit on the
collateral of the Shares. Depending upon factors similar to
those described above regarding listing and market quotations,
following the Offer it is possible that the Shares might no
longer constitute &#147;margin securities&#148; for purposes of
the margin regulations of the Federal Reserve Board, in which
event the Shares could no longer be used as collateral for loans
made by brokers. Barrick Common Shares are margin securities
under the regulations of the Federal Reserve Board.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='134'></A>
</DIV>

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    <TD><B>19.</B></TD>
    <TD>
    <B>Regulatory Matters</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In connection with the Offer, the approval on terms satisfactory
to the Offeror of various domestic and foreign regulatory
authorities having jurisdiction over the Offeror or Placer Dome,
and their respective subsidiaries and their respective
businesses, is required. The principal approvals required are
described below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Competition Act</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Competition Act requires a pre-merger notification to the
Commissioner for transactions that exceed certain financial
thresholds and, in the case of share acquisitions, that exceed
an additional voting interest threshold. If a transaction is
subject to pre-merger notification, a pre-merger filing must be
submitted to the Commissioner and a waiting period must expire
or be waived by the Commissioner before the proposed transaction
may be completed. The Offeror may choose to file either a short
form (generally with a 14-day waiting period) or a long form
(with a 42-day waiting period). However, if the Offeror files a
short form, the Commissioner may, within 14&nbsp;days, require a
long form to be filed, in which case the proposed transaction
generally may not be completed until 42&nbsp;days after the
Offeror files a long form.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Upon receipt of a pre-merger notification from the Offeror, the
Commissioner is required immediately to notify Placer Dome that
the Commissioner has received from the Offeror the prescribed
short form information or prescribed long form information, as
the case may be. Placer Dome is required by the Competition Act
to supply the Commissioner with the prescribed short form
information within ten days after being so notified or the
prescribed long form information within 20&nbsp;days after being
so notified, as the case may be. Although Placer Dome is
required to file certain information and documentary material
with the Commissioner in connection with the Offer, neither
Placer Dome&#146;s failure to make such filings nor a request
from the Commissioner for additional information or documentary
material made to Placer Dome will extend the waiting period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Commissioner&#146;s review of a transaction may take less
than or longer than the statutory waiting period. Where the
Commissioner completes her review of a notifiable transaction
prior to the expiry of the applicable statutory waiting period
and notifies the notifying parties that she does not, at that
time, intend to make an application under the merger provisions
of the Competition Act in respect of the proposed transaction,
the statutory waiting period terminates.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Whether or not a pre-merger filing is required, the Commissioner
may apply to the Competition Tribunal, a specialized tribunal
empowered to deal with certain matters under the Competition
Act, with respect to a &#147;merger&#148; (as&nbsp;defined in
the Competition Act) and, if the Competition Tribunal finds that
the merger is likely to prevent or lessen competition
substantially, it may order that the merger not proceed or, in
the event that the merger has been completed, order its
dissolution or the disposition of some of the assets or shares
involved. The Competition Tribunal also may issue an interim
order under the Competition Act prohibiting the completion of
the merger for a period of up to 30&nbsp;days where (a)&nbsp;the
Commissioner has certified that she is making an inquiry under
the Competition Act in connection with the merger and that in
her opinion more time is required to complete the inquiry, and
(b)&nbsp;the Competition Tribunal finds that, in the absence of
an interim order, a party to the merger or any other person is
likely to take an action that would substantially impair the
ability of the Competition Tribunal to remedy the effect of the
merger on competition under the merger provisions of the
Competition Act because that action would be difficult to
reverse. The duration of such interim orders may be extended for
an additional period of up to 30&nbsp;days where the Competition
Tribunal finds that the Commissioner is unable to complete her
inquiry because of circumstances beyond her control.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Commissioner may, upon request, issue an advance ruling
certificate (&#147;<B>ARC</B>&#148;), where she is satisfied
that she would not have sufficient grounds on which to apply to
the Competition Tribunal under the merger provisions of the
Competition Act. If the Commissioner issues an ARC in respect of
a proposed transaction, that transaction is exempt from the
pre-merger notification provisions. In addition, if the
transaction to which the ARC relates is substantially completed
within one year after the ARC is issued, the Commissioner cannot
seek an order of the Competition Tribunal under the merger
provisions of the Competition Act in respect of the transaction
solely on the basis of information that is the same or
substantially the same as the information on the basis of which
the ARC was issued. Alternatively, the Commissioner may issue a
&#147;no action&#148; letter following a notification or an
application for an ARC, indicating that she is of the view that
grounds do not then exist to initiate proceedings before the
Competition Tribunal under the merger provisions of the
Competition Act with respect to the proposed transaction, while
preserving, during the three years following completion of the
proposed transaction, her authority to so initiate proceedings
should circumstances change.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The purchase of Shares pursuant to the Offer requires pre-merger
notification to the Commissioner and the Offeror&#146;s
acquisition of control of Placer Dome would be a
&#147;merger&#148; for the purposes of the merger provisions of
the Competition Act. The Offeror has requested an ARC or a
&#147;no action&#148; letter and on November&nbsp;4, 2005 filed
a long form pre-merger notification.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror does not currently intend to take up or pay for
Shares deposited pursuant to the Offer unless all applicable
waiting periods under the Competition Act and any extensions
thereof have expired or been waived without restraint or
challenge and the Commissioner shall have issued a &#147;no
action&#148; letter or the Commissioner shall have issued an ARC
in respect of the acquisition of the Shares by the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>U.S. Federal Antitrust Laws</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the HSR Act certain acquisition transactions may not be
consummated until certain information and documentary materials
have been furnished to the Antitrust Division of the United
States Department of Justice (the&nbsp;&#147;<B>Antitrust
Division</B>&#148;) and the United States Federal Trade
Commission (the &#147;<B>FTC</B>&#148;) and the applicable
waiting period has expired or been terminated. The acquisition
of Shares pursuant to the Offer is subject to the HSR Act. On
</DIV>

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<DIV align="left" style="font-size: 10pt;">
November&nbsp;4, 2005, the Offeror filed a Pre-merger
Notification and Report Form with the Antitrust Division and the
FTC in connection with the Offer (the &#147;<B>HSR
Filing</B>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the provisions of the HSR Act applicable to the Offer, the
purchase of Shares pursuant to the Offer may not be consummated
until the expiration of a 30-day waiting period following the
filing by the Offeror, unless the last day of the waiting period
ends on a Saturday, Sunday or legal holiday, in which case the
waiting period will continue until the next U.S.&nbsp;Business
Day. Accordingly, the waiting period under the HSR Act
applicable to such purchases of Shares pursuant to the Offer
should expire before the Expiry Time, unless such waiting period
is extended by a request from the FTC or the Antitrust Division
for additional information or documentary material prior to the
expiration of the waiting period. Pursuant to the HSR Act, the
Offeror has requested early termination of the waiting period
applicable to the Offer. There can be no assurance, however,
that the 30-day HSR Act waiting period will be terminated early.
If,&nbsp;however, either the FTC or the Antitrust Division were
to request additional information or documentary material from
the Offeror, the waiting period would expire at 11:59&nbsp;p.m.,
New York City time, on the 30th calendar day after the date of
substantial compliance by the Offeror with such request, unless
such 30th calendar day is a Saturday, Sunday or legal holiday,
in which case the waiting period would expire on the next
U.S.&nbsp;Business Day. If the acquisition of Shares is delayed
pursuant to a request by the FTC or the Antitrust Division for
additional information or documentary material pursuant to the
HSR Act, the Offer may, but need not, be extended and, in any
event, the purchase of and payment for Shares will be deferred
until 30&nbsp;days after the request is substantially complied
with, unless the waiting period is sooner terminated by the FTC
and the Antitrust Division. Only one extension of such waiting
period pursuant to a request for additional information is
authorized by the HSR Act, except by court order. Any extension
of the waiting period will not give rise to any withdrawal
rights not otherwise provided for in the Offer or by applicable
Law. Although Placer Dome is required to file certain
information and documentary material with the Antitrust Division
and the FTC in connection with the Offer, neither Placer
Dome&#146;s failure to make such filings nor a request from the
Antitrust Division or the FTC for additional information or
documentary material made to Placer Dome will extend the waiting
period.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The FTC and the Antitrust Division frequently scrutinize the
legality under the antitrust Laws of transactions such as the
proposed acquisition of Shares by the Offeror pursuant to the
Offer. At any time before or after the purchase by the Offeror
of Shares pursuant to the Offer, either the FTC or the Antitrust
Division could take such action under United States antitrust
Laws as it deems necessary or desirable in the public interest,
including seeking to enjoin the purchase of Shares pursuant to
the Offer or seeking the divestiture of Shares purchased by the
Offeror or the divestiture of substantial assets of the Offeror,
its subsidiaries or Placer Dome. Private parties (including
individual States) also may seek to take legal action under
United States antitrust Laws under certain circumstances.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Other Jurisdictions</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror is continuing to assess possible regulatory filings
and approvals in a number of other jurisdictions. At present,
the Offeror is in the process of making filings with and/or
seeking approvals from regulatory authorities in Australia and
South Africa.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Canadian Securities Laws</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The distribution of the Barrick Common Shares under the Offer is
being made pursuant to statutory exemptions from the prospectus
and dealer registration requirements under applicable Canadian
securities Laws. While the resale of Barrick Common Shares
issued under the Offer is subject to restrictions under the
securities Laws of certain Canadian provinces and territories,
Placer Dome Shareholders in such provinces and territories
generally will be able to rely on statutory exemptions from such
restrictions.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='135'></A>
</DIV>

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    <TD><B>20.</B></TD>
    <TD>
    <B>Shareholder Rights Plan</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On February&nbsp;26, 2004, the Board of Directors adopted the
Shareholder Rights Plan, which was confirmed by Shareholders on
May&nbsp;5, 2004. Set out below is a description of the
Shareholder Rights Plan based on public documents filed by
Placer Dome with Canadian securities regulatory authorities.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Pursuant to the Shareholder Rights Plan, Placer Dome issued one
right (an&nbsp;&#147;<B>SRP Right</B>&#148;) in respect of each
outstanding Placer Dome Common Share and authorized the issue of
one SRP&nbsp;Right for each Voting Share issued thereafter. The
SRP Rights are attached to the Placer Dome Common Shares and are
not exercisable until the &#147;<B>Separation Time</B>&#148;,
which is defined under the Shareholder Rights Plan to mean the
close of business (Vancouver time) on the tenth business day (as
such term is defined in the Shareholder Rights Plan) after the
earliest of: (a)&nbsp;the first
</DIV>

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date of public announcement of facts indicating that a person
has become an Acquiring Person (as described below);
(b)&nbsp;the date of the commencement of, or first public
announcement of, the intent of any person to commence, a
take-over bid other than a &#147;Permitted Bid&#148; (as defined
in the Shareholder Rights Plan) or a &#147;Competing Permitted
Bid&#148; (as defined in the Shareholder Rights Plan); and
(c)&nbsp;the date that a Permitted Bid or Competing Permitted
Bid ceases to be such, or such later date as may from time to
time be determined by the Board of Directors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
From and after the Separation Time, each SRP&nbsp;Right entitles
the holder to purchase one Placer Dome Common Share at a price
(the &#147;<B>SRP Exercise Price</B>&#148;) of $52.00 (subject
to adjustment in certain circumstances). Pursuant to the
Shareholder Rights Plan, if a person (an &#147;<B>Acquiring
Person</B>&#148;) becomes the &#147;<B>Beneficial
Owner</B>&#148; (as defined in the Shareholder Rights Plan) of
20% or more of the outstanding Placer Dome Common Shares other
than as a result of certain exempt transactions (including
acquisitions pursuant to a Permitted Bid or Competing Permitted
Bid) (a &#147;<B>Flip-in Event</B>&#148;), then after the close
of business on the tenth business day (as such term is defined
in the Shareholder Rights Plan) after the first date of public
announcement by Placer Dome or an Acquiring Person that an
Acquiring Person has become such, each SRP&nbsp;Right
constitutes the right to purchase from Placer Dome upon exercise
thereof that number of Placer Dome Common Shares having an
aggregate Market Price (defined below) on the date of
consummation or occurrence of such Flip-in Event equal to twice
the SRP Exercise Price for a cash amount equal to the SRP
Exercise Price, subject to anti-dilution adjustment (thereby
effectively acquiring the right to purchase Placer Dome Common
Shares at a 50% discount). However, SRP Rights held by an
Acquiring Person or certain parties related to an Acquiring
Person or acting jointly or in concert with an Acquiring Person
and certain transferees, would become null and void upon the
occurrence of a Flip-in Event. The result would be to
significantly dilute the shareholdings of any such acquirer.
&#147;Market Price&#148; for a security on any date means the
average of the daily closing prices per security for such
securities on each of the 20 consecutive trading days through
and including the third trading day next preceding such date
(subject to adjustment in certain circumstances).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Until the Separation Time (or the earlier termination or
expiration of the SRP Rights), the SRP Rights will be evidenced
by the certificates representing the associated Placer Dome
Common Shares and will be transferable only together with the
associated Placer Dome Common Shares. After the Separation Time,
separate certificates evidencing the Rights (&#147;<B>Rights
Certificates</B>&#148;), together with a disclosure statement
describing the SRP&nbsp;Rights, are required to be mailed to
holders of record of Placer Dome Common Shares (other than an
Acquiring Person) as of the Separation Time. The SRP Rights will
trade separately from the Placer Dome Common Shares after the
Separation Time. The Offeror has no reason to believe that the
Board of Directors of Placer Dome will allow the Separation Time
to occur prior to the Expiry Time, but no assurances can be
given by the Offeror in that regard.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Shareholder Rights Plan does not apply to certain types of
transactions, including &#147;Permitted Bids&#148;. A
&#147;Permitted Bid&#148; is a take-over bid which, among other
things, is made to all Shareholders of record, remains open for
at least 60&nbsp;days and provides that no Placer Dome Common
Shares may be taken up unless more than 50% of the aggregate of
the then outstanding Placer Dome Common Shares held by
Independent Shareholders (as defined in the Shareholder Rights
Plan) have been deposited and not withdrawn. Once this condition
has been satisfied, the Offeror under a Permitted Bid must make
a public announcement of the date the take-over bid would
otherwise expire and extend the bid for a period of not less
than ten business days (as such term is defined in the
Shareholder Rights Plan). The Offer is not a Permitted Bid for
the purposes of the Shareholder Rights Plan. Accordingly, in
order for the Offer to proceed, the Shareholder Rights Plan must
be terminated or some action must be taken by the Board of
Directors or by a securities commission or court of competent
jurisdiction to remove the effect of the Shareholder Rights Plan
and permit the Offer to proceed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Under the Shareholder Rights Plan, the Board of Directors has
the discretion prior to the occurrence of a Flip-in Event that
would occur by reason of a take-over bid made by means of a
take-over bid circular sent to all holders of Placer Dome Common
Shares, to waive the application of the plan to such Flip-in
Event, provided that such waiver shall automatically constitute
a waiver of the application of such provisions to any other
Flip-in Event made by means of a take-over bid circular to all
holders of Placer Dome Common Shares. The Board of Directors
also has the right, with the prior consent of the holders of
Placer Dome Common Shares (or the holders of SRP Rights if the
Separation Time has occurred), at any time prior to the
occurrence of a Flip-in Event, to redeem all (but not less than
all) of the SRP Rights at a redemption price of $0.001 per
SRP&nbsp;Right, subject to certain adjustments.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
It is a condition of the Offer that the Offeror shall have
determined in its sole discretion that, on terms satisfactory to
the Offeror: (i)&nbsp;the Board of Directors shall have waived
the application of the Shareholder Rights Plan to the purchase
of Shares by the Offeror under the Offer, any Compulsory
Acquisition and any Subsequent Acquisition
</DIV>

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<DIV align="left" style="font-size: 10pt;">
Transaction; (ii)&nbsp;a cease trade order or an injunction
shall have been issued that has the effect of prohibiting or
preventing the exercise of SRP Rights or the issue of Placer
Dome Common Shares upon the exercise of the SRP Rights in
relation to the purchase of Shares by the Offeror under the
Offer, any Compulsory Acquisition or any Subsequent Acquisition
Transaction; (iii)&nbsp;a court of competent jurisdiction shall
have ordered that the SRP Rights are illegal or of no force or
effect or may not be exercised in relation to the Offer, any
Compulsory Acquisition or any Subsequent Acquisition
Transaction; or (iv)&nbsp;the SRP Rights and the Shareholder
Rights Plan shall otherwise have become or been held
unexercisable or unenforceable in relation to the Shares with
respect to the Offer, any Compulsory Acquisition and any
Subsequent Acquisition Transaction. See &#147;Conditions of the
Offer&#148; in Section&nbsp;4 of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='136'></A>
</DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>21.</B></TD>
    <TD>
    <B>Acquisition of Shares Not Deposited Pursuant to the Offer</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
It is the Offeror&#146;s current intention that if it
takes&nbsp;up and pays for Shares deposited pursuant to the
Offer, it will enter into one or more transactions to enable the
Offeror to acquire all Shares not acquired pursuant to the
Offer. There is no assurance that such transaction will be
completed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Compulsory Acquisition</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If, within 120&nbsp;days after the date of the Offer, the Offer
has been accepted by holders of not less than 90% of the Shares,
other than Shares held at the date of the Offer by or on behalf
of the Offeror and its affiliates and associates (as such terms
are defined in the CBCA), and the Offeror acquires or is bound
to take&nbsp;up and pay for such deposited Shares pursuant to
the Offer, the Offeror intends to acquire the Shares not
deposited pursuant to the Offer on the same terms as the Shares
acquired under the Offer pursuant to the provisions of
Section&nbsp;206 of the CBCA (a &#147;<B>Compulsory
Acquisition</B>&#148;) or by a Subsequent Acquisition
Transaction (as more fully described under &#147;Subsequent
Acquisition Transaction&#148; below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To exercise such statutory right, the Offeror must give notice
(the &#147;<B>Offeror&#146;s Notice</B>&#148;) to each
Shareholder who did not accept the Offer (and each person who
subsequently acquires any such Shares) (in each case, a
&#147;<B>Dissenting Offeree</B>&#148;) and to the Director under
the CBCA, of such proposed acquisition on or before the earlier
of 60&nbsp;days from the date of termination of the Offer and
180&nbsp;days from the date of the Offer. Within 20&nbsp;days of
giving the Offeror&#146;s Notice, the Offeror must pay or
transfer to Placer Dome the consideration the Offeror would have
to pay or transfer to the Dissenting Offerees if they had
elected to accept the Offer, to be held in trust for the
Dissenting Offerees. In accordance with Section&nbsp;206 of the
CBCA, within 20&nbsp;days after receipt of the Offeror&#146;s
Notice, each Dissenting Offeree must send the certificates
representing the Shares held by such Dissenting Offeree to the
Offeror and must elect either to transfer such Shares to the
Offeror on the terms of the Offer or to demand payment of the
fair value of such Shares held by such holder by so notifying
the Offeror within 20&nbsp;days after the Dissenting Offeree
receives the Offeror&#146;s Notice. A Dissenting Offeree who
does not within 20&nbsp;days after the Dissenting Offeree
receives the Offeror&#146;s Notice notify the Offeror that the
Dissenting Offeree is electing to demand payment of the fair
value of the Dissenting Offeree&#146;s Shares is deemed to have
elected to transfer such Shares to the Offeror on the same terms
that the Offeror acquired Shares from Shareholders who accepted
the Offer. If a Dissenting Offeree has elected to demand payment
of the fair value of such Shares, the Offeror may apply to a
court having jurisdiction to hear an application to fix the fair
value of such Shares of such Dissenting Offeree. If the Offeror
fails to apply to such court within 20&nbsp;days after it made
the payment or transferred the consideration to the Offeror
referred to above, the Dissenting Offeree may then apply to the
court within a further period of 20&nbsp;days to have the court
fix the fair value. If there is no such application made by the
Dissenting Offeree within such period, the Dissenting Offeree
will be deemed to have elected to transfer such Shares to the
Offeror on the terms that the Offeror acquired Shares from
Shareholders who accepted the Offer. Any judicial determination
of the fair value of the Shares could be more or less than the
amount paid pursuant to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The foregoing is a summary only of the right of Compulsory
Acquisition which may become available to the Offeror and is
qualified in its entirety by the provisions of Section&nbsp;206
of the CBCA. Section&nbsp;206 of the CBCA is complex and may
require strict adherence to notice and timing provisions,
failing which a Dissenting Offeree&#146;s rights may be lost or
altered. Shareholders who wish to be better informed about the
provisions of Section&nbsp;206 of the CBCA should consult their
legal advisors.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Compelled Acquisition</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Shareholder does not receive the Offeror&#146;s Notice, the
Shareholder may, within 90&nbsp;days after the date of the
termination of the Offer, or if the Shareholder did not receive
the Offer, within 90&nbsp;days of the later of the date of
</DIV>

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<DIV align="left" style="font-size: 10pt;">
termination of the Offer and the date on which the Shareholder
learns of the Offer, require the Offeror to acquire the
Shareholder&#146;s Shares on the terms of the Offer (a
&#147;<B>Compelled Acquisition</B>&#148;).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The foregoing is a summary only of the right of Compelled
Acquisition that may be available to a Shareholder and is
qualified in its entirety by the provisions of
Section&nbsp;206.1 of the CBCA. Section&nbsp;206.1 of the CBCA
may require strict adherence to notice and timing provisions,
failing which such rights may be lost or altered. Shareholders
who wish to be better informed about the provisions of
Section&nbsp;206.1 of the CBCA should consult their legal
advisors.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Subsequent Acquisition Transaction</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Offeror takes up and pays for Shares validly deposited to
the Offer and a Compulsory Acquisition is not available or the
Offeror elects not to pursue a Compulsory Acquisition, the
Offeror currently intends, depending upon the number of Shares
taken&nbsp;up and paid for under the Offer, to take such action
as is necessary or advisable, including causing a special
meeting of Shareholders to be called to consider an
amalgamation, capital reorganization, share consolidation,
statutory arrangement or other transaction involving Placer Dome
and the Offeror or an affiliate of the Offeror, for the purpose
of enabling the Offeror or an affiliate of the Offeror to
acquire all Shares not acquired pursuant to the Offer (a
&#147;<B>Subsequent Acquisition Transaction</B>&#148;). The
timing and details of any such transaction will depend on a
number of factors, including the number of Shares acquired
pursuant to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Provided that at least
66<FONT style="font-size: 70%"><SUP>2</SUP></FONT>/<FONT style="font-size: 60%">3</FONT>%
of the outstanding Shares on a fully diluted basis are deposited
to the Offer (which is a condition of the Offer) and the Offeror
takes up and pays for such Shares, the Offeror will own
sufficient Shares to effect such Subsequent Acquisition
Transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Subsequent Acquisition Transaction described above may
constitute a &#147;business combination&#148; or a &#147;going
private transaction&#148; within the meaning of certain
applicable Canadian securities legislation including OSC
Rule&nbsp;61-501 and AMF Regulation&nbsp;Q-27. Under OSC
Rule&nbsp;61-501 and AMF Regulation&nbsp;Q-27, subject to
certain exceptions, a Subsequent Acquisition Transaction may
constitute a &#147;business combination&#148; or a &#147;going
private transaction&#148; if it would result in the interest of
a holder or beneficial owner of Shares being terminated without
such holder&#146;s or beneficial owner&#146;s consent,
irrespective of the nature of the consideration provided in
substitution therefor. The Offeror expects that any Subsequent
Acquisition Transaction relating to Shares will be a
&#147;business combination&#148; or a &#147;going private
transaction&#148; under OSC Rule&nbsp;61-501 and AMF
Regulation&nbsp;Q-27.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In certain circumstances, the provisions of OSC Rule&nbsp;61-501
and AMF Regulation&nbsp;Q-27 may also deem certain types of
Subsequent Acquisition Transactions to be &#147;related party
transactions&#148;. However, if the Subsequent Acquisition
Transaction is a &#147;business combination&#148; or a
&#147;going private transaction&#148; carried out in accordance
with OSC Rule&nbsp;61-501 and AMF Regulation&nbsp;Q-27 or an
exemption therefrom, the &#147;related party transaction&#148;
provisions therein do not apply to such transaction. The Offeror
intends to carry out any such Subsequent Acquisition Transaction
in accordance with OSC Rule&nbsp;61-501 and AMF
Regulation&nbsp;Q-27, or any successor provisions, or exemptions
therefrom, such that the &#147;related party transaction&#148;
provisions of OSC Rule&nbsp;61-501 and AMF Regulation&nbsp;Q-27
will not apply to such Subsequent Acquisition Transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
OSC Rule&nbsp;61-501 and AMF Regulation&nbsp;Q-27 provide that
unless exempted, a corporation proposing to carry out a business
combination or a going private transaction is required to
prepare a formal valuation of the Shares (and, subject to
certain exceptions, any non-cash consideration being offered
therefor) and provide to the holders of the Shares a summary of
such valuation or the entire valuation. In connection therewith,
the Offeror intends to rely on any exemption then available or
to seek waivers pursuant to OSC Rule&nbsp;61-501 and AMF
Regulation&nbsp;Q-27 exempting the Offeror or Placer Dome or
their affiliates, as appropriate, from the requirement to
prepare a valuation in connection with any Subsequent
Acquisition Transaction. An exemption is available under OSC
Rule&nbsp;61-501 and AMF Regulation&nbsp;Q-27 for certain
business combinations or going private transactions completed
within 120&nbsp;days after the expiry of a formal take-over bid
where the consideration under such transaction is at least equal
in value to and is in the same form as the consideration that
tendering Shareholders were entitled to receive in the take-over
bid, provided that certain disclosure is given in the take-over
bid disclosure documents. The Offeror currently intends that the
consideration offered under any Subsequent Acquisition
Transaction proposed by it would be equal in value to, and in
the same form as, the consideration offered under the Offer and
that such Subsequent Acquisition Transaction will be completed
no later than 120&nbsp;days after the Expiry Date and,
accordingly, the Offeror expects to rely on these exemptions.
</DIV>

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Depending on the nature and the terms of the Subsequent
Acquisition Transaction, the provisions of the CBCA may require
the approval of at least
66<FONT style="font-size: 70%"><SUP>2</SUP></FONT>/<FONT style="font-size: 60%">3</FONT>%
of the votes cast by holders of the outstanding Shares at a
meeting duly called and held for the purpose of approving a
Subsequent Acquisition Transaction. OSC Rule&nbsp;61-501 and AMF
Regulation&nbsp;Q-27 would in effect also require that, in
addition to any other required securityholder approval, in order
to complete a business combination or a going private
transaction, the approval of a majority of the votes cast by
&#147;minority&#148; holders of the Shares must be obtained
unless an exemption is available or discretionary relief is
granted by the OSC and the AMF. In relation to any Subsequent
Acquisition Transaction, the &#147;minority&#148; holders will
be, subject to any available exemption or discretionary relief
granted by the OSC and the AMF, as required, all Shareholders
other than the Offeror, any &#147;related party&#148; of the
Offeror or any other &#147;interested party&#148; (within the
meaning of OSC Rule&nbsp;61-501 and AMF Regulation&nbsp;Q-27)
including any director or senior officer of the Offeror,
affiliate or insider of the Offeror or any of their directors or
senior officers or any person acting jointly or in concert with
any of the foregoing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
OSC Rule&nbsp;61-501 and AMF&nbsp;Regulation&nbsp;Q-27 also
provide that the Offeror may treat Shares acquired pursuant to
the Offer as &#147;minority&#148; shares and vote them, or
consider them voted, in favour of a Subsequent Acquisition
Transaction that is a business combination or a going private
transaction, provided that, among other things, (a)&nbsp;the
business combination or going private transaction is completed
not later than 120&nbsp;days after the Expiry Date; (b)&nbsp;the
consideration for each security in the Subsequent Acquisition
Transaction is at least equal in value to and in the same form
as the consideration paid pursuant to the Offer; and
(c)&nbsp;the Shareholder who tendered such Shares to the Offer
was not (i)&nbsp;acting jointly or in concert with the Offeror
in respect of the Offer, (ii)&nbsp;a direct or indirect party to
any &#147;connected transaction&#148; (as defined in
OSC&nbsp;Rule&nbsp;61-501) to the Offer, or (iii)&nbsp;entitled
to receive, directly or indirectly, in connection with the
Offer, a &#147;collateral benefit&#148; (as defined in OSC
Rule&nbsp;61-501) or consideration per security that is not
identical in amount and form to the entitlement of Shareholders
in Canada. The Offeror currently intends that the consideration
offered under any Subsequent Acquisition Transaction proposed by
it would be equal in value to, and in the same form as, the
consideration offered under the Offer and that such Subsequent
Acquisition Transaction will be completed no later than
120&nbsp;days after the Expiry Date and, accordingly, the
Offeror intends to cause Shares acquired pursuant to the Offer
to be voted in favour of such transaction and to be counted as
part of any minority approval required in connection with any
such transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In addition, under OSC Rule&nbsp;61-501 and AMF
Regulation&nbsp;Q-27, if, following the Offer, the Offeror and
its affiliates are the registered holders of 90% or more of the
Shares at the time the business combination or going private
transaction is initiated, the requirement for minority approval
under Rule&nbsp;OSC&nbsp;61-501 and
AMF&nbsp;Regulation&nbsp;Q-27 would not apply to the transaction
if an enforceable right to dissent and seek fair value or a
substantially equivalent right is made available to the minority
Shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any Subsequent Acquisition Transaction may also result in
Shareholders having the right to dissent and demand payment of
the fair value of their Shares under Section&nbsp;190 of the
CBCA. If the statutory procedures are complied with, this right
could lead to a judicial determination of the fair value
required to be paid to such dissenting shareholders for their
Shares. The fair value of Shares so determined could be more or
less than the amount paid per Share pursuant to the Subsequent
Acquisition Transaction or the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The tax consequences to a Shareholder of a Subsequent
Acquisition Transaction may differ from the tax consequences to
such Shareholder of accepting the Offer. See &#147;Canadian
Federal Income Tax Considerations&#148; in Section&nbsp;22 of
the Circular, &#147;United States Federal Income Tax
Considerations&#148; in Section&nbsp;23 of the Circular and
&#147;Australian Federal Income Tax Considerations&#148; in
Section&nbsp;24 of the Circular. Shareholders should consult
their legal advisors for a determination of their legal rights
with respect to a Subsequent Acquisition Transaction if and when
proposed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The timing and details of any Compulsory Acquisition or
Subsequent Acquisition Transaction involving Placer Dome will
necessarily depend on a variety of factors, including the number
of Shares acquired pursuant to the Offer. Although the Offeror
currently intends to propose a Compulsory Acquisition or a
Subsequent Acquisition Transaction on the same terms as the
Offer, it is possible that, as a result of the number of Shares
acquired under the Offer, delays in the Offeror&#146;s ability
to effect such a transaction, information hereafter obtained by
the Offeror, changes in general economic, industry, regulatory
or market conditions or in the business of Placer Dome, or other
currently unforeseen circumstances, such a transaction may not
be so proposed or may be delayed or abandoned. The Offeror
expressly reserves the right not to propose a Compulsory
Acquisition or a Subsequent Acquisition Transaction involving
Placer Dome.
</DIV>

<P align="center" style="font-size: 10pt;">62

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Rule&nbsp;13e-3 under the U.S.&nbsp;Exchange Act is applicable
to certain &#147;going-private&#148; transactions in the United
States and may under certain circumstances be applicable to a
Compulsory Acquisition or a Subsequent Acquisition Transaction.
The Offeror believes that Rule&nbsp;13e-3 should not be
applicable to a Compulsory Acquisition or a Subsequent
Acquisition Transaction unless the Compulsory Acquisition or the
Subsequent Acquisition Transaction, as the case may be, is
consummated more than one year after the termination of the
Offer. If applicable, Rule&nbsp;13e-3 would require, among other
things, that certain financial information concerning Placer
Dome and certain information relating to the fairness of the
Compulsory Acquisition or the Subsequent Acquisition
Transaction, as the case may be, and the consideration offered
to minority Shareholders be filed with the SEC and distributed
to minority Shareholders before the consummation of any such
transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The foregoing discussion of certain provisions of the
U.S.&nbsp;Exchange Act is not a complete description of the
U.S.&nbsp;Exchange Act or such provisions thereof and is
qualified in its entirety by the reference to the
U.S.&nbsp;Exchange Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Offeror is unable or decides not to effect a Compulsory
Acquisition or propose a Subsequent Acquisition Transaction, or
proposes a Subsequent Acquisition Transaction but cannot obtain
any required approvals or exemptions promptly, the Offeror will
evaluate its other alternatives. Such alternatives could
include, to the extent permitted by applicable Law, purchasing
additional Shares in the open market, in privately negotiated
transactions, in another take-over bid or exchange offer or
otherwise, or from Placer Dome, or taking no actions to acquire
additional Shares. Subject to applicable Law, any additional
purchases of Shares could be at a price greater than, equal to,
or less than the price to be paid for Shares under the Offer and
could be for cash, securities and/or other consideration.
Alternatively, the Offeror may take no action to acquire
additional Shares, or may even sell or otherwise dispose of any
or all Shares acquired pursuant to the Offer, on terms and at
prices then determined by the Offeror, which may vary from the
price paid for Shares under the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Judicial Developments</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Prior to the pronouncement of OSC Rule&nbsp;61-501 (or its
predecessor OSC Policy&nbsp;9.1) and AMF Regulation&nbsp;Q-27,
Canadian courts had, in a few instances, granted preliminary
injunctions to prohibit transactions which constituted going
private transactions or business combinations within the meaning
of OSC Rule&nbsp;61-501 and AMF Regulation&nbsp;Q-27. The
Offeror has been advised that more recent notices and judicial
decisions indicate a willingness to permit business combinations
to proceed subject to compliance with requirements intended to
ensure procedural and substantive fairness to the minority
shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders should consult their legal advisors for a
determination of their legal rights with respect to any
transaction that may constitute a business combination or going
private transaction.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='137'></A>
</DIV>

<!-- link1 "22.Canadian Federal Income Tax Considerations" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

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<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>22.</B></TD>
    <TD>
    <B>Canadian Federal Income Tax Considerations</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the opinion of Davies Ward Phillips &#38; Vineberg LLP,
counsel to the Offeror, the following summary fairly presents
the principal consequences under the Tax Act generally
applicable to Shareholders who dispose of their Shares pursuant
to the Offer or pursuant to certain transactions described in
&#147;Acquisition of Shares Not Deposited Pursuant to the
Offer&#148; in Section&nbsp;21 of this Circular. This summary is
based upon the current provisions of the Tax Act, the
regulations thereunder and counsel&#146;s understanding of the
current administrative practices of the CRA.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This summary takes into account all specific proposals to amend
the Tax Act and the regulations thereunder that have been
publicly announced by the Minister of Finance (Canada) prior to
the date hereof (the &#147;<B>Tax Proposals</B>&#148;), but does
not otherwise take into account or anticipate any changes in
law, whether by judicial, governmental or legislative decision
or action, or changes in administrative practices of the CRA. No
assurances can be given that the Tax Proposals will be enacted
as proposed, if at all. This summary does not take into account
the tax legislation of any province or territory of Canada or
any non-Canadian jurisdiction. Provisions of provincial income
tax legislation vary from province to province in Canada and in
some cases differ from federal income tax legislation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This summary is based on the assumption that if the SRP Rights
are acquired by the Offeror, there is no value to the SRP
Rights, and no amount of the consideration to be paid by the
Offeror will be allocated to the SRP Rights. This summary does
not address all issues relevant to Shareholders who acquired
their Shares on the exercise of an Option or upon conversion of
a Convertible Debenture. Such Shareholders should consult their
own tax advisors. The Tax Act contains certain provisions
relating to securities held by certain financial institutions
(the &#147;<B>mark-to-market rules</B>&#148;). This summary does
not take into account the mark-to-market rules and Shareholders
that are financial institutions for the purposes of those rules
should consult their own tax advisors.
</DIV>

<P align="center" style="font-size: 10pt;">63

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The following summary is of a general nature only and is not
intended to be, nor should it be construed to be, legal or tax
advice to any particular Shareholder. This summary is not
exhaustive of all Canadian federal income tax considerations.
Accordingly, Shareholders should consult their own tax advisors
with respect to their particular circumstances, including the
application and effect of the income and other taxes of any
country, province, territory, state or local tax authority.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All amounts relating to the disposition of Shares must be
converted into Canadian dollars for purposes of the Tax Act and
the regulations thereunder using the exchange rate applicable to
the relevant time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Residents of Canada</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following summary is applicable to Shareholders who, at all
relevant times, are resident in Canada for purposes of the Tax
Act, who hold their Shares as &#147;capital property&#148;, who
are not &#147;affiliated&#148; with the Offeror and who deal at
arm&#146;s length with the Offeror and Placer Dome for purposes
of the Tax Act. Shares will generally constitute capital
property to a holder thereof unless the holder holds such Shares
in the course of carrying on a business of trading or dealing in
securities or otherwise as part of a business of buying and
selling securities or has acquired such Shares in a transaction
or transactions considered to be an adventure in the nature of
trade. Certain Shareholders whose Shares might not otherwise
qualify as capital property may make an irrevocable election in
accordance with subsection&nbsp;39(4) of the Tax Act to have
Shares and every other &#147;Canadian security&#148; (as defined
in the Tax Act) owned by such Shareholder in the taxation year
of the election and in all subsequent taxation years deemed to
be capital property. Where such a Shareholder&#146;s Shares are
acquired by the Offeror under the Share Alternative and the
Rollover Option and the Shareholder makes a valid
section&nbsp;85 election in respect of such Shares, as described
below, the Barrick Common Shares received in the exchange will
not be Canadian securities for the purposes of the Tax Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders who do not hold their Shares as capital property
should consult their own tax advisors regarding their particular
circumstances, as the following summary does not apply to such
Shareholders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Sale of Shares Under the Offer</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I>Exchange of Shares for Cash Only</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder whose Shares are acquired by the Offeror for cash
only will realize a capital gain (or capital loss) equal to the
amount by which the cash received for such Shares, net of any
reasonable costs of disposition, exceeds (or is less than) the
aggregate adjusted cost base to such Shareholder of such Shares.
The general tax treatment of capital gains and losses is
discussed below under the heading &#147;Taxation of Capital
Gains and Capital Losses&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I>Exchange of Shares for Cash and Barrick Common Shares</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Tax-Deferred Rollover Under the Tax Act</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the availability of the joint election referred to
below, a Shareholder who exchanges Shares for cash and Barrick
Common Shares will be considered to have disposed of such Shares
for proceeds of disposition equal to the sum of (i)&nbsp;any
cash received by such Shareholder, including any cash received
in lieu of a fractional share, and (ii)&nbsp;the fair market
value, as at the time of the exchange, of any Barrick Common
Shares acquired by such Shareholder on the exchange. As a
result, the Shareholder will in general realize a capital gain
(or capital loss) to the extent that such proceeds of
disposition, net of any reasonable costs of disposition, exceed
(or are less than) the aggregate adjusted cost base to the
Shareholder of such Shares. The cost to a Shareholder of any
Barrick Common Shares acquired by the Shareholder on the
exchange will be equal to the fair market value of those Barrick
Common Shares at that time, and such cost will be averaged with
the adjusted cost base of all other Barrick Common Shares held
by the Shareholder immediately prior to the exchange for the
purpose of determining thereafter the adjusted cost base of each
Barrick Common Share held by such Shareholder. The general tax
treatment of capital gains and capital losses is discussed below
under the heading &#147;Taxation of Capital Gains and Capital
Losses&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Tax-Deferred
Rollover Under the Tax Act</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An Eligible Holder who receives cash and Barrick Common Shares
under the Offer pursuant to the Share Alternative, and who
further elects the Rollover Option in the Letter of Transmittal,
may make a joint election with the Offeror pursuant to
subsection&nbsp;85(1) of the Tax Act (or, in the case of a
Shareholder that is a partnership, pursuant to
subsection&nbsp;85(2) of the Tax Act) and thereby obtain a full
or partial tax-deferred &#147;rollover&#148; for Canadian income
tax purposes, depending on the &#147;Elected Amount&#148; (as
defined below) and the adjusted cost base to the holder of the
</DIV>

<P align="center" style="font-size: 10pt;">64

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<DIV align="left" style="font-size: 10pt;">
Shares at the time of the exchange. So long as, at the time of
the exchange, the adjusted cost base to an Eligible Holder of
the holder&#146;s Shares equals or exceeds the amount of any
cash received on the exchange by such holder, the Eligible
Holder may select an &#147;Elected Amount&#148; so as to not
realize a capital gain for the purposes of the Tax Act on the
exchange. The &#147;Elected Amount&#148; means the amount
selected by an Eligible Holder, subject to the limitations
described below, in the election made pursuant to
subsection&nbsp;85(1) or (2) of the Tax Act to be treated as the
proceeds of disposition of the Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In general, where an election is made, the Elected Amount must
comply with the following rules:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    the Elected Amount may not be less than the amount of cash
    received by the Eligible Holder on the exchange, including any
    cash received in lieu of a fractional Barrick Common Share;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    the Elected Amount may not be less than the lesser of the
    adjusted cost base to the Eligible Holder of the Shares
    exchanged, determined at the time of the exchange, and the fair
    market value of the Shares at that time; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    the Elected Amount may not exceed the fair market value of the
    Shares at the time of the exchange.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Where an Eligible Holder and the Offeror make an election that
complies with the rules above, the tax treatment to the Eligible
Holder generally will be as follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    the Shares will be deemed to have been disposed of by the
    Eligible Holder for proceeds of disposition equal to the Elected
    Amount;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    if the Elected Amount is equal to the aggregate of the adjusted
    cost base to the Eligible Holder of the Shares, determined at
    the time of the exchange, and any reasonable costs of
    disposition, no capital gain or capital loss will be realized by
    the Eligible Holder;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    to the extent that the Elected Amount exceeds (or is less than)
    the aggregate of the adjusted cost base of the Shares to the
    Eligible Holder and any reasonable costs of disposition, the
    Eligible Holder will in general realize a capital gain (or
    capital loss); and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    the aggregate cost to the Eligible Holder of the Barrick Common
    Shares acquired on the exchange will be equal to the amount, if
    any, by which the Elected Amount exceeds the amount of cash
    received by the Eligible Holder, and such cost will be averaged
    with the adjusted cost base of all other Barrick Common Shares
    held by the Eligible Holder immediately prior to the exchange
    for the purpose of determining thereafter the adjusted cost base
    of each Barrick Common Share held by such Eligible Holder.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Eligible Holders who wish to tender Shares under the Rollover
Option must elect the Share Alternative. Shareholders who elect
the Cash Alternative will not be permitted to elect the Rollover
Option, even if such Shareholders receive Barrick Common Shares
as a result of pro ration.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An Eligible Holder who wishes to tender Shares under the
Rollover Option and enter into a joint tax election with the
Offeror under subsection&nbsp;85(1) or (2)&nbsp;of the Tax Act
must obtain the appropriate federal election forms
(Form&nbsp;T2057 or, in the event that the Shares are held by a
partnership, Form&nbsp;T2058) from the CRA, and where necessary,
appropriate provincial election forms from the appropriate
provincial office.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>An Eligible Holder who wishes to tender Shares under the
Rollover Option and effect the disposition of such holder&#146;s
Shares pursuant to section 85 of the Tax Act (or any similar
provision of any provincial tax legislation) must ensure that
two signed copies of Form&nbsp;T2057 or, in the event that the
Shares are held by a partnership, two signed copies of
Form&nbsp;T2058 (and where necessary, two signed copies of the
appropriate provincial forms) are received by the Depositary at
its office at Toronto, Ontario (CIBC Mellon Trust&nbsp;Company,
Attn: Barrick Tax Election, 199&nbsp;Bay Street, Commerce Court
West, Securities Level, Toronto, Ontario, M5L&nbsp;1G9) on or
before the sixtieth day after the Expiry Time duly completed
with the details of the number of Shares transferred, the
consideration received and the applicable Elected Amounts for
the purposes of such elections. Subject to the election forms
complying with the provisions of the Tax Act (or applicable
provincial income tax law), one copy of the election form will
be returned to the particular Eligible Holder at the address
indicated on the election form, signed by the Offeror, for
filing by the Eligible Holder with the CRA (or the applicable
provincial tax authority). Any Eligible Holder who does not
ensure that the duly completed election forms have been received
by the Offeror on or before 60&nbsp;days after the Expiry Time
will not be able to benefit from the rollover provisions of the
Tax Act (or the corresponding provisions of any applicable
provincial tax</B>
</DIV>

<P align="center" style="font-size: 10pt;">65

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<DIV align="left" style="font-size: 10pt;">
<B>legislation). Accordingly, all Eligible Holders who wish to
enter into an election with the Offeror should give their
immediate attention to this matter.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Where Shares are held in joint ownership and two or more of the
co-owners wish to elect, one of the co-owners designated for
such purpose should file one copy of Form&nbsp;T2057 (and, where
applicable, the corresponding provincial form(s)) for each
co-owner along with a list of all co-owners electing, which list
should contain the address and social insurance number or
business number of each co-owner. Where the Shares are held as
partnership property, a partner designated by the partnership
must file one copy of Form&nbsp;T2058 on behalf of (but not for)
each member of the partnership (and, where applicable, the
corresponding form(s) with the provincial taxation authority).
Such Form&nbsp;T2058 (and provincial form(s), if applicable)
must be accompanied by a list containing the name and social
insurance number or business number of each partner and must be
signed by each partner or accompanied by a copy of the document
authorizing the designated partner to complete, execute and file
the form on behalf of the other partners.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Compliance with the requirements to ensure a valid election
is filed under subsection&nbsp;85(1) or (2) of the Tax Act will
be the sole responsibility of the Eligible Holder making such
election, and such Eligible Holder will be solely responsible
for the payment of any late filing penalties. The Offeror agrees
only to add the required information regarding the Offeror to
any properly completed election form received by the Depository
on or before the sixtieth day after the Expiry Time, to execute
any such election form and to forward one copy of such election
form by mail to the Eligible Holder at the address indicated on
the election form within 60&nbsp;days after the receipt thereof.
Accordingly, the Offeror will not be responsible or liable for
taxes, interest, penalties, damages or expenses resulting from
the failure by anyone to properly complete any election form or
to properly file it within the time prescribed and in the form
prescribed under the Tax Act (or the corresponding provisions of
any applicable provincial tax legislation).</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In order for the CRA to accept a tax election without a late
filing penalty being paid by an Eligible Holder, the election
form must be received by the CRA on or before the day that is
the earliest of the days on or before which either the Offeror
or the Eligible Holder is required to file an income tax return
for the taxation year in which the exchange occurs. The
Offeror&#146;s 2005 taxation year is scheduled to end on
December&nbsp;31, 2005, although the Offeror&#146;s taxation
year could end earlier as a result of an event such as an
amalgamation. Eligible Holders are urged to consult their own
advisors as soon as possible respecting the deadlines applicable
to their own particular circumstances. <B>However, regardless of
such deadline, the tax election forms of an Eligible Holder must
be received by the Offeror in accordance with the procedures set
out herein no later than 60&nbsp;days after the Expiry Time.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Eligible Holders are referred to Information
Circular&nbsp;76-19R3 and Interpretation Bulletin&nbsp;IT-291R3
issued by the CRA for further information respecting the
election. Eligible Holders wishing to make the election should
consult their own tax advisors. A Shareholder who does not make
a valid election under section&nbsp;85 of the Tax Act (or under
the corresponding provisions of applicable provincial tax
legislation) may realize a taxable capital gain under the Tax
Act (or under applicable provincial tax legislation). The
comments herein with respect to such elections are provided for
general assistance only. The law in this area is complex and
contains numerous technical requirements.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Taxation of Capital Gains and Capital Losses</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder who, as described above, realizes a capital gain
or a capital loss on the disposition of Shares will generally be
required to include in income one-half of any such capital gain
(&#147;<B>taxable capital gain</B>&#148;) and may apply one-half
of any such capital loss (&#147;<B>allowable capital
loss</B>&#148;) against taxable capital gains in accordance with
the detailed rules in the Tax Act. Allowable capital losses in
excess of taxable capital gains may be carried back and deducted
in any of the three preceding years or carried forward and
deducted in any following year against taxable capital gains
realized in such year in accordance with the detailed rules of
the Tax Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Shareholder is a corporation or a partnership or trust of
which a corporation is a partner or a beneficiary, any capital
loss realized on the disposition of any such shares may be
reduced by the amount of certain dividends previously received
(or deemed to have been received) in accordance with detailed
provisions of the Tax Act in that regard. Shareholders should
consult their tax advisors for specific information regarding
the application of these provisions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A &#147;Canadian-controlled private corporation&#148; (as
defined in the Tax Act) may be liable to pay, in addition to tax
otherwise payable under the Tax Act, a refundable tax of
6<FONT style="font-size: 70%"><SUP>2</SUP></FONT>/<FONT style="font-size: 60%">3</FONT>%
on its &#147;aggregate investment income&#148;. For this
purpose, investment income includes taxable capital gains.
</DIV>

<P align="center" style="font-size: 10pt;">66

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The realization of a capital gain or loss by an individual
(including most trusts) may affect the individual&#146;s
liability for alternative minimum tax under the Tax Act.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Compulsory Acquisition</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As described under Section&nbsp;21 of the Circular,
&#147;Acquisition of Shares Not Deposited Pursuant to the
Offer&nbsp;&#151; Compulsory Acquisition&#148;, the Offeror may,
in certain circumstances, acquire Shares not deposited pursuant
to the Offer pursuant to section 206 of the CBCA. The tax
consequences to a Shareholder of a disposition of Shares in such
circumstances generally will be as described above depending
upon the consideration received by the Shareholder for the
Shareholder&#146;s Shares. Shareholders whose Shares may be so
acquired should consult their own tax advisors in this regard.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Subsequent Acquisition Transaction</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As described in &#147;Acquisition of Shares Not Deposited
Pursuant to the Offer&nbsp;&#151; Subsequent Acquisition
Transaction&#148; in Section&nbsp;21 of the Circular, if the
Offeror does not acquire all of the Shares pursuant to the Offer
or by means of a Compulsory Acquisition, the Offeror may propose
other means of acquiring the remaining issued and outstanding
Shares. As described in &#147;Acquisition of Shares Not
Deposited Pursuant to the Offer&nbsp;&#151; Subsequent
Acquisition Transaction&#148; in Section&nbsp;21 of the
Circular, it is the Offeror&#146;s current intention that the
consideration offered under any Subsequent Acquisition
Transaction would be equal in value to, and in the same form as,
the consideration offered under the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The tax treatment of a Subsequent Acquisition Transaction to a
Shareholder will depend upon the exact manner in which the
Subsequent Acquisition Transaction is carried out. The Offeror
may propose an amalgamation, capital reorganization, share
consolidation, statutory arrangement or other transaction.
Depending on the form of the Subsequent Acquisition Transaction,
a Shareholder may realize a capital gain or capital loss and/or
be deemed to receive a dividend. Shareholders should consult
their own tax advisors for advice with respect to the income tax
consequences to them of having their Shares acquired pursuant to
a Subsequent Acquisition Transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder will be required to include in computing its
income for a taxation year any dividends deemed to be received
on the Shares or any shares of a taxable Canadian corporation
issued as consideration for the Shares. In the case of a
Shareholder who is an individual (other than certain trusts),
such dividends will be subject to the gross-up and dividend tax
credit rules normally applicable to dividends from taxable
Canadian corporations. Subject to the application of
subsection&nbsp;55(2) of the Tax Act, any such dividends deemed
to be received by a Shareholder that is a corporation will
generally be deductible in computing the corporation&#146;s
income.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subsection&nbsp;55(2) of the Tax Act provides that where a
Shareholder that is a corporation would otherwise be deemed to
receive a dividend, in certain circumstances the deemed dividend
may be deemed not to be received as a dividend and instead may
be treated as proceeds of disposition of the Shares or any
shares of a taxable Canadian corporation issued as consideration
for the Shares for purposes of computing the Shareholder&#146;s
capital gain or capital loss. Shareholders that are corporations
should consult their own tax advisors in this regard.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder that is a &#147;private corporation&#148; or a
&#147;subject corporation&#148; (as such terms are defined in
the Tax Act) will generally be liable to pay a
33<FONT style="font-size: 70%"><SUP>1</SUP></FONT>/<FONT style="font-size: 60%">3</FONT>%
refundable tax under Part&nbsp;IV of the Tax Act on dividends
received or deemed to be received on Shares or any shares of a
taxable Canadian corporation issued as consideration for the
Shares to the extent that such dividends are deductible in
computing the corporation&#146;s taxable income for the year.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders should consult their own tax advisors for advice
with respect to the income tax consequences to them of having
their Shares acquired pursuant to a Subsequent Acquisition
Transaction. No opinion is expressed herein as to the tax
consequences of any such transaction to a Shareholder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Non-Residents of Canada</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following summary is generally applicable to a Shareholder
who, at all relevant times, for purposes of the Tax Act and any
applicable income tax treaty or convention, is neither resident
nor deemed to be resident in Canada, is not affiliated with the
Offeror for the purposes of the Tax Act, deals at arm&#146;s
length with the Offeror and Placer Dome for the purposes of the
Tax Act, holds Shares as capital property and does not use or
hold, and is not deemed to use or hold Shares in connection with
carrying on business in Canada. Special rules, which are not
discussed in this summary, may apply to a non-resident
Shareholder that is an insurer that carries on an insurance
business in Canada and elsewhere.
</DIV>

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<I><U>Sale of Shares Under the Offer</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A non-resident Shareholder will not be subject to tax under the
Tax Act on any capital gain realized on a disposition of Shares
to the Offeror under the Offer unless the Shares constitute
&#147;taxable Canadian property&#148; to the non-resident
Shareholder. Generally, the Shares will not constitute
&#147;taxable Canadian property&#148; to a non-resident
Shareholder at a particular time provided that (a)&nbsp;the
Shares are listed on a prescribed stock exchange (which includes
the TSX) at that time, and (b)&nbsp;the non-resident
Shareholder, persons with whom the non-resident Shareholder does
not deal at arm&#146;s length, or the non-resident Shareholder
together with persons with whom the non-resident Shareholder
does not deal at arm&#146;s length, have not owned 25% or more
of the issued shares of any class of Placer Dome at any time
during the 60-month period that ends at that time. Shares may
also be taxable Canadian property in certain other
circumstances, including where the Shareholder elected to have
them treated as taxable Canadian property upon ceasing to be
resident in Canada.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If Shares constitute or are deemed to constitute taxable
Canadian property to a particular non-resident Shareholder, such
non-resident Shareholder will realize a capital gain (or capital
loss) on the sale thereof to the Offeror under the Offer,
generally computed in the manner, and subject to the tax
treatment, described above under &#147;Residents of
Canada&nbsp;&#151; Sales of Shares Under the Offer&#148;. Any
such capital gain may be exempt from tax under the Tax Act under
the terms of an income tax treaty or convention between Canada
and the country in which the non-resident Shareholder resides.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the event that the Shares constitute taxable Canadian
property to a particular non-resident Shareholder and the gain
to be realized upon a disposition of such Shares under the Offer
is not exempt from Canadian tax by virtue of an applicable
income tax treaty or convention, then the non-resident
Shareholder will be an Eligible Holder and may, if the Shares
are tendered to the Offer under the Share Alternative and the
Rollover Option, make a joint tax election with the Offeror in
order that the exchange occurs on a full or partial tax-deferred
basis as described above under &#147;Residents of
Canada&nbsp;&#151; Sale of Shares under the Offer&nbsp;&#151;
Exchange of Shares for Cash and Barrick Common
Shares&nbsp;&#151; Tax-Deferred Rollover Under the Tax
Act&#148;. If such election is made, the Barrick Common Shares
received as consideration for the Shares will be deemed to be
taxable Canadian property to such non-resident Shareholder.
Non-resident Shareholders who are Eligible Holders should
consult their own tax advisors.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Compulsory Acquisition</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Subject to the discussion below under &#147;Delisting of
Shares&#148;, a non-resident Shareholder will not be subject to
income tax under the Tax Act on a disposition of Shares either
pursuant to the Offeror&#146;s statutory rights of purchase
described under &#147;Acquisition of Shares Not Deposited
Pursuant to the Offer&nbsp;&#151; Compulsory Acquisition&#148;
in Section&nbsp;21 of the Circular, or on an exercise of dissent
rights in respect thereof unless the Shares are &#147;taxable
Canadian property&#148; to the non-resident Shareholder for
purposes of the Tax Act and the non-resident Shareholder is not
entitled to relief under an applicable income tax treaty or
convention. Where interest is paid or credited to a non-resident
Shareholder in connection with the exercise of dissent rights
under a Compulsory Acquisition, such non-resident Shareholder
will be subject to Canadian withholding tax under the Tax Act at
the rate of 25%, subject to any reduction in the rate of
withholding to which the non-resident Shareholder is entitled
under any applicable income tax treaty or convention.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Subsequent Acquisition Transaction</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As described in &#147;Acquisition of Shares Not Deposited
Pursuant to the Offer&nbsp;&#151; Subsequent Acquisition
Transaction&#148; in Section&nbsp;21 of the Circular, if the
Offeror does not acquire all of the Shares pursuant to the Offer
or by means of a Compulsory Acquisition, the Offeror may propose
other means of acquiring the remaining issued and outstanding
Shares. As described in &#147;Acquisition of Shares Not
Deposited Pursuant to the Offer&nbsp;&#151; Subsequent
Acquisition Transaction&#148; in Section&nbsp;21 of the
Circular, it is the Offeror&#146;s current intention that the
consideration offered under any Subsequent Acquisition
Transaction would be equal in value to and in the same form as
the consideration offered under the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The tax treatment of a Subsequent Acquisition Transaction to a
non-resident Shareholder will depend upon the exact manner in
which the Subsequent Acquisition Transaction is carried out.
Depending on the form of the Subsequent Acquisition Transaction,
a non-resident Shareholder may realize a capital gain or capital
loss and/or be deemed to receive a dividend, as discussed above
under &#147;Residents of Canada&nbsp;&#151; Subsequent
Acquisition Transaction&#148;. Whether or not a non-resident
Shareholder would be subject to income tax under the Tax Act on
any such capital gain would
</DIV>

<P align="center" style="font-size: 10pt;">68

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<DIV align="left" style="font-size: 10pt;">
depend on whether the Shares or any shares issued as
consideration for the Shares are &#147;taxable Canadian
property&#148; to the Shareholder for purposes of the Tax Act or
the Shareholder is entitled to relief under any applicable
income tax treaty or convention. Dividends paid or deemed to be
paid or credited to a non-resident Shareholder will be subject
to Canadian withholding tax at a rate of 25%, subject to any
reduction in the rate of withholding to which the Shareholder is
entitled under any applicable income tax treaty or convention.
Where the non-resident Shareholder is a U.S. resident entitled
to the benefits under the Canada-U.S. Income Tax Convention
(1980)&nbsp;and is the beneficial owner of the dividends, the
applicable rate of Canadian withholding tax is generally reduced
to 15%. Shareholders should consult their own tax advisors for
advice with respect to the income tax consequences to them of
having their Shares acquired pursuant to a Subsequent
Acquisition Transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Delisting of Shares</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As noted in &#147;Effect of the Offer on the Market for Shares;
Stock Exchange Listing and Public Disclosure&#148; in
Section&nbsp;18 of the Circular, Shares may cease to be listed
on the TSX (or another prescribed stock exchange) following the
completion of the Offer and may not be listed on the TSX (or
another prescribed stock exchange) at the time of their
disposition pursuant to a Compulsory Acquisition or a Subsequent
Acquisition Transaction. Non-resident Shareholders are cautioned
that if the Shares are not listed on a prescribed stock exchange
at the time they are disposed of (a)&nbsp;the Shares will be
taxable Canadian property to the non-resident Shareholder,
(b)&nbsp;the non-resident Shareholder may be subject to income
tax under the Tax Act in respect of any capital gain realized on
such disposition, subject to any relief under an applicable
income tax treaty or convention, and (c)&nbsp;the notification
and withholding provisions of section&nbsp;116 of the Tax Act
will apply to the non-resident Shareholder. Where the
non-resident Shareholder is entitled to receive Barrick Common
Shares on any such disposition, the Offeror may be required to
withhold and sell in the market a portion of the Barrick Common
Shares that the non-resident Shareholder would otherwise be
entitled to receive to satisfy the Offeror&#146;s withholding
obligations under the Tax Act. Non-resident Shareholders should
consult their own tax advisors for advice with respect to the
potential income tax consequences to them of having their Shares
acquired pursuant to such a transaction.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='138'></A>
</DIV>

<!-- link1 "23.United States Federal Income Tax Considerations" -->

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<TR>
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<TR valign="top">
    <TD><B>23.</B></TD>
    <TD>
    <B>United States Federal Income Tax Considerations</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the opinion of Davies Ward Phillips&nbsp;&#38; Vineberg LLP,
counsel to the Offeror, the following is an accurate summary of
the material United States federal income tax consequences to a
U.S. Holder (as defined below) arising from and relating to the
exchange of Shares for Barrick Common Shares (if any) and cash
pursuant to the Offer, a Compulsory Acquisition, or a Subsequent
Acquisition Transaction (collectively referred to in this
Section as the &#147;<B>Offer</B>&#148;) and the ownership and
disposition of any Barrick Common Shares received pursuant to
the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Scope of this Disclosure</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>U.S. Holders</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For purposes of this summary, a &#147;<B>U.S. Holder</B>&#148;
is a beneficial owner of Shares that, for United States federal
income tax purposes, is (a)&nbsp;an individual who is a citizen
or resident of the United States, (b)&nbsp;a corporation, or
other entity classified as a corporation for United States
federal income tax purposes, that is created or organized in or
under the Laws of the United States or any state in the United
States, including the District of Columbia, (c)&nbsp;an estate
if the income of the estate is subject to United States federal
income tax regardless of the source of the income, or (d)&nbsp;a
trust if (i)&nbsp;the trust has validly elected to be treated as
a United States person for United States federal income tax
purposes or (ii)&nbsp;a United States court is able to exercise
primary supervision over the administration of the trust and one
or more United States persons have the authority to control all
substantial decisions of the trust. A U.S. Holder does not
include a beneficial owner of Shares that is resident in Canada
for purposes of the Canada-U.S. Tax Convention (as defined
below).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This summary is for general information purposes only and does
not purport to be a complete description of all potential United
States federal income tax consequences that may apply to a U.S.
Holder as a result of the Offer and the ownership and
disposition of Barrick Common Shares. In addition, this summary
does not take into account the individual facts and
circumstances of any particular U.S. Holder that may affect the
United States federal income tax consequences to them of the
Offer and the ownership and disposition of Barrick Common
Shares. Accordingly, this summary is not intended to be, and
should not be construed as, legal or United States federal
income tax advice with respect to any U.S. Holder. Each U.S.
Holder should consult its own tax advisor regarding the United
States federal,
</DIV>

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<DIV align="left" style="font-size: 10pt;">
state and local, and foreign tax consequences of the Offer and
the ownership and disposition of Barrick Common Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Non-U.S. Holders</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For purposes of this summary, a &#147;<B>Non-U.S.
Holder</B>&#148; is a beneficial owner of Shares other than a
U.S. Holder. This summary does not address the United States
federal income tax consequences of the Offer and the ownership
and disposition of Barrick Common Shares to Non-U.S. Holders.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>U.S. Holders Subject to Special United States Federal
Income Tax Rules Not Addressed</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This summary does not address the United States federal income
tax consequences of the Offer or the ownership and disposition
of Barrick Common Shares to U.S. Holders that are subject to
special provisions under the Code (as defined below), including
the following U.S. Holders: (a)&nbsp;U.S. Holders that are
tax-exempt organizations, qualified retirement plans, individual
retirement accounts, or other tax-deferred accounts;
(b)&nbsp;U.S. Holders that are financial institutions, insurance
companies, real estate investment trusts, or regulated
investment companies or that are broker-dealers, dealers, or
traders in securities or currencies that elect to apply a
mark-to-market accounting method; (c)&nbsp;U.S.&nbsp;Holders
that have a &#147;functional currency&#148; other than the
United States dollar; (d)&nbsp;U.S. Holders that are liable for
the alternative minimum tax under the Code; (e)&nbsp;U.S.
Holders that own Shares or Barrick Common Shares as part of a
straddle, hedging transaction, conversion transaction,
constructive sale, or other arrangement involving more than one
position; (f)&nbsp;U.S. Holders that acquired Shares or Barrick
Common Shares in connection with the exercise of employee stock
options or otherwise as compensation for services; (g)&nbsp;U.S.
Holders that hold Shares or Barrick Common Shares other than as
a capital asset within the meaning of Section&nbsp;1221 of the
Code; (h)&nbsp;U.S. Holders that own, directly or indirectly, 5%
or more, by voting power or value, of the outstanding shares of
the Offeror or of Placer Dome; and (i)&nbsp;certain former
resident individuals and corporations that are treated as U.S.
Holders for all or some purposes under the Code. U.S. Holders
that are subject to special provisions under the Code, including
U.S. Holders described immediately above, should consult their
own tax advisors regarding the United States federal, United
States state and local, and foreign tax consequences of the
Offer and the ownership, and disposition of Barrick Common
Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If an entity that is classified as a partnership (or
&#147;pass-through&#148; entity) for United States federal
income tax purposes holds Shares or Barrick Common Shares, the
United States federal income tax consequences to such
partnership (or &#147;pass-through&#148; entity) and the
partners of such partnership (or owners of such
&#147;pass-through&#148; entity) generally will depend on the
activities of the partnership (or &#147;pass-through&#148;
entity) and the status of such partners (or owners). Partners of
entities that are classified as partnerships (and owners of
&#147;pass-through&#148; entities) for United States federal
income tax purposes should consult their own tax advisor
regarding the United States federal income tax consequences of
the Offer and the ownership and disposition of Barrick Common
Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Authorities</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This summary is based on the U.S. Internal Revenue Code of 1986,
as amended (the &#147;<B>Code</B>&#148;), final and temporary
Treasury Regulations promulgated thereunder, United States court
decisions, published rulings and administrative positions of the
U.S. Internal Revenue Service (the &#147;<B>IRS</B>&#148;)
interpreting the Code, and the Convention Between Canada and the
United States of America with Respect to Taxes on Income and on
Capital, signed September&nbsp;26, 1980, as amended (the
&#147;<B>Canada-U.S. Tax Convention</B>&#148;), as applicable
and, in each case, as in effect and available as of the date of
the Offer and Circular. Any of the authorities on which this
summary is based could be changed in a material and adverse
manner at any time, and any such change could be applied on a
retroactive basis and could affect the United States federal
income tax consequences described in this summary. This summary
does not discuss the potential effects, whether adverse or
beneficial, of any proposed legislation that, if enacted, could
be applied on a retroactive basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Tax Consequences Other than United States Federal Income
Tax Consequences Not Addressed</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This summary addresses solely the United States federal income
tax consequences of the Offer and does not address the United
States state and local, United States estate and gift, or
foreign tax consequences to U.S. Holders of the Offer and the
ownership and disposition of Barrick Common Shares. Each U.S.
Holder should consult its own tax advisor regarding the United
States state and local and foreign tax consequences of the Offer
and the ownership and disposition of Barrick Common Shares.
</DIV>

<P align="center" style="font-size: 10pt;">70

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<B><I>Certain United States Federal Income Tax Consequences of
the Offer</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a U.S. Holder accepts and participates in the Offer:
</DIV>

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    <TD width="7%"></TD>
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    <TD width="89%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    the U.S. Holder will recognize gain or loss in an amount equal
    to the difference, if any, between (i)&nbsp;the fair market
    value of any Barrick Common Shares received by such U.S. Holder
    pursuant to the Offer plus the amount of any cash received and
    (ii)&nbsp;the adjusted tax basis of the U.S. Holder in the
    Shares exchanged;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    the U.S. Holder&#146;s tax basis in any Barrick Common Shares
    acquired in exchange for Shares pursuant to the Offer will equal
    the fair market value of the Barrick Common Shares on the date
    of receipt; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    the U.S. Holder&#146;s holding period for any Barrick Common
    Shares acquired in exchange for Shares pursuant to the Offer
    will begin on the day after the date of receipt.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The gain or loss described in paragraph (a)&nbsp;above generally
will be U.S. source capital gain or loss, and will be long-term
capital gain or loss if the Shares have been held for more than
one year, subject to the discussion below regarding Passive
Foreign Investment Companies. Preferential tax rates apply to
long-term capital gains of a U.S.&nbsp;Holder that is an
individual, estate, or trust. There are currently no
preferential tax rates for long-term capital gains of a U.S.
Holder that is a corporation. Deductions for capital losses and
net capital losses are subject to complex limitations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The amount of any Canadian dollars received by a U.S. Holder
generally will be translated into U.S. dollars for purposes of
calculating the gain or loss described above using the spot
exchange rate applicable on the date the Offer is consummated. A
subsequent disposition of any foreign currency received will
generally give rise to ordinary income or loss. A U.S. holder
should consult its own tax advisor regarding the United States
federal income tax consequences of acquiring, holding and
disposing of foreign currency.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Foreign Tax Credits for Canadian Taxes Paid or
Withheld</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A U.S.&nbsp;Holder that pays (whether directly or through
withholding) Canadian income tax in connection with the Offer
may be entitled to elect to receive either a deduction or a
credit for U.S.&nbsp;federal income tax purposes. There are
significant and complex limitations that apply to the foreign
tax credit, among which is the general limitation that the
credit cannot exceed the proportionate share of the
U.S.&nbsp;Holder&#146;s U.S.&nbsp;federal income tax liability
that the U.S. Holder&#146;s &#147;foreign source&#148; taxable
income bears to the U.S.&nbsp;Holder&#146;s worldwide taxable
income. In applying this limitation, a U.S.&nbsp;Holder&#146;s
various items of income and deduction must be classified, under
complex rules, as either &#147;foreign source&#148; or
&#147;U.S.&nbsp;source&#148;. Gain on the disposition of Shares
generally will be U.S.&nbsp;source gain for purposes of applying
the foreign tax credit rules, unless the gain is subject to tax
in Canada and is resourced as foreign source gain under the
provisions of the Canada-U.S.&nbsp;Tax Convention.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Passive Foreign Investment Company</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Rules governing &#147;Passive Foreign Investment Companies&#148;
(&#147;<B>PFIC</B>&#148;) can have significant adverse tax
effects on U.S.&nbsp;Holders of shares of certain foreign
corporations. Section&nbsp;1297 of the Code defines a PFIC as a
corporation that is not formed in the United States if, for any
taxable year, either (a)&nbsp;75% or more of its gross income is
&#147;passive income&#148; or (b)&nbsp;the average percentage,
by fair market value, of its assets that produce or are held for
the production of &#147;passive income&#148; is 50% or more.
&#147;Passive income&#148; includes, for example, dividends,
interest, certain rents and royalties, certain gains from the
sale of stock and securities, and certain gains from commodities
transactions. U.S. Holders owning common shares of a PFIC are
subject to the highest rate of tax on ordinary income in effect
for the applicable taxable year and to an interest charge based
on the value of deferral of tax for the period during which the
common shares of the PFIC are owned with respect to certain
&#147;excess distributions&#148; on and dispositions of PFIC
stock under Section&nbsp;1291 of the Code.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If Placer Dome is or has been a PFIC any time during a
U.S.&nbsp;Holder&#146;s holding period, unless such
U.S.&nbsp;Holder has made a timely &#147;qualified electing
fund&#148; election or a &#147;mark to market&#148; election
with respect to its ownership of the Shares, any gain recognized
as a result of such holder&#146;s participation in the Offer
will be treated as an &#147;excess distribution&#148;, which
will cause such gain to be subject to the highest rate of tax on
ordinary income in effect and to an interest charge.
U.S.&nbsp;Holders are strongly urged to consult their own
advisors as to the status of Placer Dome as a PFIC under the
U.S.&nbsp;tax rules and the potential impact of such status on
the tax consequences to them of the Offer.
</DIV>

<P align="center" style="font-size: 10pt;">71

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>United States Federal Income Tax Consequences of Ownership
and Disposition of Barrick Common Shares Received Pursuant to
the Offer</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Distributions on Barrick Common Shares</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I>General Taxation of Distributions</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A U.S.&nbsp;Holder that receives a distribution (including a
constructive distribution) with respect to Barrick Common Shares
will be required to include the amount of the distribution in
gross income as a dividend (without reduction for any Canadian
income tax withheld from the distribution) to the extent of the
current and/or accumulated &#147;earnings and profits&#148; of
the Offeror, as determined under United States federal income
tax rules. To the extent that a distribution exceeds the current
and accumulated &#147;earnings and profits&#148; of the Offeror,
the distribution will be treated (a)&nbsp;first, as a tax-free
return of capital to the extent of a U.S.&nbsp;Holder&#146;s
adjusted tax basis in the Barrick Common Shares and,
(b)&nbsp;thereafter, as gain from the sale or exchange of the
Barrick Common Shares. See &#147;&#151;&nbsp;Disposition of
Barrick Common Shares&#148; below.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I>Reduced Tax Rates for Certain Dividends</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For taxable years beginning before January&nbsp;1, 2009, a
distribution paid by the Offeror that is included in income as a
dividend generally will be taxed at the preferential tax rates
applicable to long-term capital gains if (a)&nbsp;the Offeror is
a &#147;qualified foreign corporation&#148; (as defined below),
(b)&nbsp;the U.S.&nbsp;Holder receiving such dividend is an
individual, estate, or trust, and (c)&nbsp;the dividend is paid
on Barrick Common Shares that have been held by the
U.S.&nbsp;Holder for at least 61&nbsp;days during the 121-day
period beginning 60&nbsp;days before the &#147;ex-dividend
date&#148; (i.e., the first date that a purchaser of such
Barrick Common Shares will not be entitled to receive the
dividend).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror generally will be a &#147;qualified foreign
corporation&#148; under Section l(h)(11) of the Code (a
&#147;<B>QFC</B>&#148;) if (a)&nbsp;the Offeror is incorporated
in a possession of the United States, (b)&nbsp;the Offeror is
eligible for the benefits of the Canada-U.S.&nbsp;Tax
Convention, or (c)&nbsp;Barrick Common Shares are readily
tradeable on an established securities market in the United
States. However, even if the Offeror satisfies one or more of
these requirements, the Offeror will not be treated as a QFC if
the Offeror is a PFIC for the taxable year during which the
Offeror pays a dividend or for the preceding taxable year. The
Offeror believes that it will qualify as a QFC for the tax year
ending December&nbsp;31, 2005. However, there can be no
assurance that the Offeror will qualify as a QFC in future tax
years. If the Offeror is not a QFC, a dividend paid by the
Offeror to a U.S.&nbsp;Holder, including a U.S.&nbsp;Holder that
is an individual, estate, or trust, generally will be taxed at
ordinary income tax rates (and not at the preferential tax rates
applicable to long-term capital gains).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I>Distributions Paid in Foreign Currency</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The taxable amount of a distribution paid to a U.S.&nbsp;Holder
in foreign currency generally will be equal to the United States
dollar value of the distribution based on the exchange rate
applicable on the date of receipt of the distribution. A
subsequent disposition of any foreign currency received will
generally give rise to ordinary income or loss.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I>Dividends Received Deduction</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Dividends paid on the Barrick Common Shares generally will not
be eligible for the &#147;dividends received deduction&#148;
available to United States corporate shareholders receiving
dividends from United States corporations.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I>Foreign Tax Credit</I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A U.S.&nbsp;Holder who pays (whether directly or through
withholding) Canadian income tax with respect to dividends paid
on the Barrick Common Shares generally will be entitled, at the
election of such U.S.&nbsp;Holder, to receive either a deduction
or a credit for U.S.&nbsp;federal income tax purposes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Disposition of Barrick Common Shares</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A U.S.&nbsp;Holder will recognize gain or loss on the sale or
other taxable disposition of Barrick Common Shares in an amount
equal to the difference, if any, between (a)&nbsp;the amount of
cash plus the fair market value of any property received and
(b)&nbsp;the U.S.&nbsp;Holder&#146;s adjusted tax basis in the
Barrick Common Shares sold or otherwise disposed. Any such gain
or loss generally will be U.S. source capital gain or loss,
which will be long-term capital gain or loss if the Barrick
Common Shares have been held for more than one year.
</DIV>

<P align="center" style="font-size: 10pt;">72

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Passive Foreign Investment Company</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror believes that it will not constitute a PFIC for its
taxable year ending December&nbsp;31, 2005. However, there can
be no assurance that the Offeror will not be considered a PFIC
for any future taxable year. There can be no assurance that the
Offeror&#146;s determination concerning its PFIC status will not
be challenged by the IRS.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Information Reporting: Backup Withholding Tax</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Taxable payments made pursuant to the Offer and payments made
within the United States, or by a United States payor or United
States middleman, of dividends on, and proceeds arising from
certain sales or other taxable dispositions of, Barrick Common
Shares generally will be subject to information reporting and
backup withholding tax, currently at the rate of 28%, if a U.S.
Holder (a)&nbsp;fails to furnish the U.S.&nbsp;Holder&#146;s
correct United States taxpayer identification number (generally
on Form&nbsp;W-9), (b)&nbsp;furnishes an incorrect United States
taxpayer identification number, (c)&nbsp;is notified by the IRS
that the U.S.&nbsp;Holder has previously failed to properly
report items subject to backup withholding tax, or
(d)&nbsp;fails to certify, under penalty of perjury, that the
U.S.&nbsp;Holder has furnished its correct U.S.&nbsp;taxpayer
identification number and that the IRS has not notified the
U.S.&nbsp;Holder that it is subject to backup withholding tax.
However, U.S.&nbsp;Holders that are corporations generally are
excluded from these information reporting and backup withholding
tax rules. Any amounts withheld under the United States backup
withholding tax rules will be allowed as a credit against a U.S.
Holder&#146;s United States federal income tax liability, if
any, or will be refunded, if the U.S.&nbsp;Holder furnishes the
required information to the IRS. Each U.S.&nbsp;Holder should
consult its own tax advisor regarding the information reporting
and backup withholding tax rules.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='139'></A>
</DIV>

<!-- link1 "24.Australian Federal Income Tax Considerations" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>24.</B></TD>
    <TD>
    <B>Australian Federal Income Tax Considerations</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In the opinion of Greenwoods &#38; Freehills Pty Ltd, Australian
tax advisors to the Offeror, the following is an accurate
summary of the material Australian income tax consequences for a
Shareholder who is a tax resident of Australia arising from and
relating to the exchange of Shares for Barrick Common Shares (if
any) and cash pursuant to the Offer or a Compulsory Acquisition
(collectively referred to in this Section as the
&#147;Offer&#148;) and the ownership and disposition of any
Barrick Common Shares received pursuant to the Offer. The
disclosure does not address all of the possible Australian
income tax consequences of a Subsequent Acquisition Transaction
(the form of which has not been settled).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Scope of this Disclosure</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following is a general description of the Australian income
tax consequences of the acceptance of the Offer by Shareholders
who are tax residents of Australia. These comments are relevant
only to those Shareholders who hold their Shares as capital
assets and not to those Shareholders for whom a profit on
disposal of the Shares would be regarded as ordinary income
(e.g.&nbsp;securities dealers).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders who are not tax residents of Australia should
generally not be subject to tax in Australia in respect of the
Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following description is based on the law and practice in
effect as at the date of the Offer and Circular, but is not
intended to be an authoritative or complete statement of the
laws applicable to the particular circumstances of every
Shareholder. Shareholders should seek their own independent
professional advice about their particular circumstances.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The representatives of Greenwoods &#38; Freehills Pty Ltd
involved in preparing this summary are not licensed to provide
financial product advice in relation to dealing in securities.
Investors should consider seeking advice from a suitably
qualified Australian Financial Services Licence holder before
making any decision in relation to the Offer. Investors should
also note that taxation is only one of the matters that needs to
be considered when making a decision in respect of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Acceptance of the Offer and Disposal of Shares</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Capital Gains Tax (&#147;CGT&#148;)</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The acceptance of the Offer by a Shareholder will result in the
disposal by the Shareholder of Shares to the Offeror. This
change in ownership of the Shares will result in a CGT event
happening to the Shareholder for Australian tax purposes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder who acquired (or is taken to have acquired) Shares
before September&nbsp;20, 1985 and who disposes of Shares to the
Offeror under the Offer (whether under the Cash Alternative or
the Share Alternative) will generally not
</DIV>

<P align="center" style="font-size: 10pt;">73

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<DIV align="left" style="font-size: 10pt;">
realize a capital gain or capital loss on the disposal of
Shares. However, where Barrick Common Shares are received as
consideration under the Offer, the Shareholder will be taken to
have acquired such Barrick Common Shares at the time the Letter
of Transmittal is executed with a cost base equal to their
market value at that time. Therefore, any subsequent disposal of
the Barrick Common Shares will generally result in the
realization of a capital gain or capital loss by the Shareholder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Shareholder acquired (or is taken to have acquired) Shares
on or after September&nbsp;20, 1985, subject to the availability
of CGT rollover relief (see below), the Shareholder will
generally make a capital gain to the extent that the capital
proceeds for a particular Share exceeds the cost base (or, in
some cases, indexed cost base) of that Share, and a capital loss
to the extent that the capital proceeds for a particular Share
are less than the reduced cost base of that Share.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The capital proceeds will be the sum of the amount of money and
the market value of the Barrick Common Shares received by the
Shareholder in respect of the disposal of Shares under the
Offer. For these purposes, the cash will be translated to
Australian currency and the market value of the Barrick Common
Shares determined, on the date when the Letter of Transmittal is
executed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The cost base of the Shares is generally an amount equal to the
cost of acquisition of the Shares and any incidental expenses
incurred in acquiring or disposing the Shares (e.g., brokerage,
stamp duty).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Capital gains and capital losses of a taxpayer in a year of
income are aggregated to determine whether there is a net
capital gain. If there is a net capital gain, that amount is
included in the assessable income and is subject to Australian
income tax.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Capital losses may not be deducted against other assessable
income, but may be carried forward and offset against future
capital gains.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Indexation and Discounting</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Share was acquired at least 12&nbsp;months before the
Letter of Transmittal is executed, the capital gain or capital
loss in respect of that Share will be calculated using one of
the following methods:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="2%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;</TD>
    <TD align="left">
    <I>Indexation method&nbsp;&#151; </I>If the Share was acquired
    at or before 11:45&nbsp;a.m. on September&nbsp;21, 1999, the
    Shareholder may choose to calculate a resulting capital gain as
    the difference between the capital proceeds and the cost base of
    the Share indexed for inflation up to September&nbsp;30, 1999.
    If the Shareholder does not choose the indexation method, the
    discount capital gains method may apply if the Shareholder is an
    individual, complying superannuation entity or trustee (see
    below); or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;</TD>
    <TD align="left">
    <I>Discount capital gains method&nbsp;&#151; </I>If the Share
    was acquired after 11:45&nbsp;a.m. on September&nbsp;21, 1999,
    the capital gain or capital loss is generally the difference
    between the capital proceeds and the cost base of the Share,
    without adjustment for indexation. If such Shares have been held
    by an individual, a complying superannuation entity or a trustee
    for at least 12&nbsp;months before the Letter of Transmittal is
    executed, such Shareholders should be entitled to discount
    capital gains treatment.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
 Discount capital gains treatment entitles eligible shareholders
to reduce their capital gain (after deducting available capital
losses of the Shareholder for that income year) by half, in the
case of individuals and trusts, or by one-third, in the case of
complying superannuation entities. Discount capital gains
treatment is <I>not </I>available to Shareholders that are
companies or Shareholders who did not acquire the Shares at
least 12&nbsp;months before the time they execute their Letter
of Transmittal.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Share was not acquired at least 12&nbsp;months before the
Letter of Transmittal is executed, the capital gain or capital
loss is generally the difference between the capital proceeds
and the cost base of the Share, without the cost base being
adjusted for indexation or any capital gain being subject to
discount capital gains treatment.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>CGT Rollover Relief</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If as a result of the Offer, the Offeror becomes the owner of
80% or more of the Shares in Placer Dome, Shareholders who
acquired (or are taken to have acquired) Shares on or after
September&nbsp;20, 1985 who would (but for the CGT rollover
relief) realize a capital gain on the disposal of the Shares
under the Offer may choose CGT rollover relief. However, it is
considered that CGT rollover relief will not be available if the
Offeror does not acquire 80% or more of the Shares under the
Offer, even if the Offeror subsequently acquires more than 80%
of the Shares in a Subsequent Acquisition Transaction.
</DIV>

<P align="center" style="font-size: 10pt;">74

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If CGT rollover relief is available and chosen, a proportion of
the otherwise taxable capital gain will be disregarded and
effectively deferred until the Shareholder disposes of the
Barrick Common Shares received as partial consideration for such
Shareholder&#146;s Shares under the Offer. The choice to obtain
this CGT rollover is evidenced by the way in which the relevant
Shareholder treats the exchange in such Shareholder&#146;s
Australian income tax return for the year of income in which
such Shareholder disposes of such Shareholder&#146;s Shares
under the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CGT rollover relief will only be available to the extent the
consideration for the disposal is in the form of Barrick Common
Shares. CGT rollover relief will not be available to the extent
the consideration is paid in cash (including to the extent that
additional cash is paid in respect of fractional entitlements to
Barrick Common Shares).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
For Shareholders who would ordinarily have realized a capital
gain as a result of disposing of Shares under the Offer under
the Share Alternative, the capital gain under the partial
rollover will be calculated as follows:
</DIV>


<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="15%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="11%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="12%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="9%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 14pt">&nbsp;</DIV></TD>
    <TD colspan="5" align="center" valign="middle">
    Cash consideration received under the Offer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 14pt">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 12pt">&nbsp;</DIV></TD>
    <TD colspan="5" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 12pt">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <BR>
    Capital gain for<BR>
    all Shares held</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    =</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    Cash<BR>
    consideration<BR>
    received under<BR>
    the Offer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    Less</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 36pt">&nbsp;</DIV></TD>
    <TD align="center" valign="middle">
    Cash consideration<BR>
    received under<BR>
    the Offer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    +</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    Market value of<BR>
    Barrick<BR>
    Common Shares<BR>
    under the Offer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    &#215;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    Cost base<BR>
    of all<BR>
    Shares<BR>
    transferred</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 36pt">&nbsp;</DIV></TD>
</TR>

</TABLE>
</CENTER>


<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Broadly, this should result in Shareholders only being taxed on
a proportion of the capital gain realized on the disposal of the
Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Choosing CGT rollover relief will affect the cost base of the
Barrick Common Shares acquired by the Shareholders and this will
affect the tax consequences on the future disposal of the
Barrick Common Shares received under the Offer (see below).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<I><U>Disposal of Barrick Common Shares</U></I>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The disposal of Barrick Common Shares by Shareholders who are
tax residents of Australia will generally be subject to the same
Australian CGT consequences as described above in relation to
the disposal of Shares, subject to the following difference in
the case of a Shareholder who chose CGT rollover relief in
relation to the disposal of Shares under the Share Alternative.
For such Shareholders, the cost base of the Barrick Common
Shares will be calculated as follows:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="15%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="13%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="10%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 12pt">&nbsp;</DIV></TD>
    <TD colspan="5" align="center" valign="middle">
    Cash consideration received under the Offer</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 12pt">&nbsp;</DIV></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 12pt">&nbsp;</DIV></TD>
    <TD colspan="5" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 12pt">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    Cost base for<BR>
    all Barrick<BR>
    Common Shares<BR>
    received under<BR>
    the Offer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    =</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    Cost base for<BR>
    all Shares<BR>
    previously<BR>
    held</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    Less</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 44pt">&nbsp;</DIV></TD>
    <TD align="center" valign="middle">
    Cash consideration<BR>
    received under<BR>
    the Offer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    +</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    Market value of<BR>
    Barrick<BR>
    Common Shares<BR>
    under the Offer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    &#215;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="middle">
    Cost base<BR>
    of all<BR>
    Shares<BR>
    transferred</TD>
    <TD>&nbsp;</TD>
    <TD><DIV style="width: 10%; border-left: 1.0pt solid black; font-size: 44pt">&nbsp;</DIV></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Because the Barrick Common Shares will have been acquired after
11:45 a.m. on September&nbsp;21, 1999, no indexation adjustment
would be made to their cost base. However, Shareholders who are
individuals, complying superannuation entities or trustees may
be entitled to discount capital gains treatment (see above) on
the disposal of their Barrick Common Shares. Importantly for
these purposes, the Barrick Common Shares are deemed to have
been acquired at the time the Shares that were exchanged for the
Barrick Common Shares were acquired.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If CGT rollover relief was not chosen or was not applicable to
the disposal of the Shares (e.g.,&nbsp;the disposal of Shares
resulted in a capital loss being realized or the Shares were
acquired (or taken to be acquired) prior to September&nbsp;20,
1985), the cost base of the Barrick Common Shares received under
the Offer will generally be equal to the market value of the
Barrick Common Shares on the date the Letter of Transmittal is
executed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Ownership of Barrick Common Shares</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Australian tax consequences of ownership of the Barrick
Common Shares by a Shareholder that is a tax resident of
Australia should generally be as follows:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="2%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;</TD>
    <TD align="left">
    Where the Shareholder holds less than 10% of the Barrick Common
    Shares, dividends paid to the Australian Shareholder on their
    Barrick Common Shares grossed-up for any dividend withholding
    tax deducted from the dividend will be included in the
    Shareholder&#146;s assessable income.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;</TD>
    <TD align="left">
    The Shareholder should be entitled to a foreign tax credit for
    such dividend withholding tax.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>&#149;</TD>
    <TD align="left">
    The dividend and dividend withholding tax should be translated
    to Australian dollars on the day they are paid.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">75
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Barrick Common Shares are disposed of, the Shareholder
will generally realize a capital gain to the extent that the
capital proceeds are more than the cost base of the particular
Barrick Common Share (refer above) and a capital loss to the
extent that the capital proceeds are less than the reduced cost
base of the Barrick Common Share. If the Shareholder is an
individual, a complying superannuation entity or a trustee, the
Shareholder should be eligible for discount capital gains
treatment, provided that they have held the Barrick Common
Shares for at least 12&nbsp;months from the date the Shares were
acquired (refer above).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Where the Shareholder is an Australian resident company that
holds 10% or more of the Barrick Common Shares, dividends
received should not be subject to Australian tax.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
There are special rules that apply where an Australian tax
resident holds an interest in a foreign company, called the
&#147;foreign investment fund&#148; regime. However, these rules
should not apply to the Barrick Common Shares because the
Barrick Common Shares issued under the Offer will be listed on
the TSX and the Offeror is classified by the exchange in the
precious metals sector.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Subsequent Acquisition Transaction</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Offeror does not acquire all the Shares under the Offer,
a Subsequent Acquisition Transaction may occur. The Australian
tax treatment of a Subsequent Acquisition Transaction to a
Shareholder will depend upon the exact manner in which the
Subsequent Acquisition Transaction is carried out. Shareholders
should consult their own tax advisors for advice with respect to
the income tax consequences to them of having their Shares
acquired pursuant to a Subsequent Acquisition Transaction.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Subsequent Acquisition Transaction could be implemented by a
plan of arrangement whereby the Offeror acquires the Shares of
the Shareholders (who did not accept the Offer) for cash and
Barrick Common Shares. On the basis that the Offeror will become
the owner of 80% or more of the Shares (including the Shares the
Offeror acquired under the Offer) under the Subsequent
Acquisition Transaction, the tax consequences as discussed above
in the section entitled &#147;Acceptance of the Offer and
Disposal of Shares&#148; should apply in these circumstances.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Alternatively, a Subsequent Acquisition Transaction could be
implemented by means of an amalgamation of a wholly-owned direct
or indirect subsidiary of the Offeror and Placer Dome pursuant
to which Shareholders who have not tendered their Shares under
the Offer would have their Shares exchanged on the amalgamation
for redeemable preferred shares of the amalgamated corporation
(&#147;<B>Preferred Shares</B>&#148;), such Preferred Shares to
be forthwith redeemed for cash and Barrick Common Shares. In
these circumstances, the whole of the redemption price could be
taken to be an unfranked dividend for Australian tax purposes
and no capital loss would arise for the cost of the Shares. In
the event that the redemption price is not deemed to be a
dividend, CGT rollover relief is unlikely to be available.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The tax consequences of any other form of Subsequent Acquisition
Transaction will depend upon the exact manner in which the
transaction is carried out, and may differ from those arising on
the sale of Shares under the Offer. No opinion is expressed
herein as to the tax consequences of any such transaction to a
Shareholder.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='140'></A>
</DIV>

<!-- link1 "25.Other Matters Relating to the Offer" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>25.</B></TD>
    <TD>
    <B>Other Matters Relating to the Offer</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Dealer Managers and Soliciting Dealer Group</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror has engaged the services of RBC Dominion
Securities&nbsp;Inc. and Merrill Lynch Canada&nbsp;Inc. as
Dealer Managers in Canada to solicit acceptances of the Offer.
The Offeror will reimburse the Dealer Managers for their
reasonable out-of-pocket expenses, and has also agreed to
indemnify the Dealer Managers against certain liabilities and
expenses in connection with the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
RBC Dominion Securities&nbsp;Inc. and Merrill Lynch
Canada&nbsp;Inc. intend to form a soliciting dealer group (the
&#147;<B>Soliciting Dealer Group</B>&#148;) comprised of members
of the Investment Dealers Association of Canada and members of
the TSX and the TSX Venture Exchange to solicit acceptances of
the Offer from persons who are resident in Canada and will also
solicit acceptances of the Offer in the United States in the
case of RBC&nbsp;Dominion Securities&nbsp;Inc., through its
United States registered broker dealer affiliate,
RBC&nbsp;Capital Markets Corporation, and in the case of Merrill
Lynch Canada&nbsp;Inc., through Merrill Lynch, Pierce,
Fenner&nbsp;&#38; Smith Incorporated. Each member of the
Soliciting Dealer Group, including the Dealer Managers, is
referred to herein as a &#147;<B>Soliciting Dealer</B>&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror has agreed to pay to each Soliciting Dealer whose
name appears in the appropriate space in the Letter of
Transmittal accompanying a deposit of Shares a fee of Cdn.$0.15
for each Share deposited and taken up by the Offeror pursuant to
the Offer. The aggregate amount payable to a Soliciting Dealer
with respect to any single
</DIV>

<P align="center" style="font-size: 10pt;">76

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
depositing Shareholder will be not less than Cdn.$100 and not
more than Cdn.$1,500, provided that at least 300&nbsp;Shares are
deposited per beneficial Shareholder. The Offeror will not pay
any fee with respect to deposits of Shares held for the Dealer
Managers&#146; own accounts as principals. Where Shares
deposited and registered in a single name are beneficially owned
by more than one person, the foregoing minimum and maximum
amounts will be applied separately in respect of each such
beneficial owner. The Offeror may require the Soliciting Dealers
to furnish evidence of beneficial ownership satisfactory to the
Offeror at the time of deposit. If no Soliciting Dealer is
specified in a Letter of Transmittal, no fee will be paid to a
Soliciting Dealer in respect of the applicable Shares.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Depositary, U.S. Forwarding Agent and Information
Agents</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
CIBC Mellon Trust&nbsp;Company is acting as Depositary and
Mellon Investor Services&nbsp;LLC is acting as
U.S.&nbsp;Forwarding Agent under the Offer. In such capacity,
the Depositary and the U.S.&nbsp;Forwarding Agent will receive
deposits of certificates representing the Shares and
accompanying Letters of Transmittal at the offices specified in
the Letter of Transmittal. The Depositary will also receive
Notices of Guaranteed Delivery at its office in Toronto, Ontario
specified in the Notice of Guaranteed Delivery. The Depositary
will also be responsible for giving notices, if required, and
for making payment for all Shares purchased by the Offeror under
the Offer. The Depositary and the U.S.&nbsp;Forwarding Agent
will receive reasonable and customary compensation from the
Offeror for their services relating to the Offer and will be
reimbursed for certain out-of-pocket expenses. The Offeror has
also agreed to indemnify the Depositary and the
U.S.&nbsp;Forwarding Agent for certain liabilities, including
liabilities under securities laws, and expenses of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror has engaged MacKenzie Partners Inc. and Kingsdale
Shareholder Services Inc. as Information Agents to provide a
resource for information for Shareholders. The Information
Agents will receive reasonable and customary compensation from
the Offeror for services in connection with the Offer and will
be reimbursed for certain out-of-pocket expenses.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Except as set forth above, the Offeror will not pay any fees or
commissions to any broker, dealer or other person for soliciting
tenders of the Shares pursuant to the Offer, provided that the
Offeror may make other arrangements with soliciting dealers
and/or information agents outside of Canada. No fee or
commission will be payable by Shareholders who transmit their
Shares directly to the Depositary or who make use of the
facilities of a Soliciting Dealer to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders should contact the Dealer Managers, the Depositary,
the U.S. Forwarding Agent, the Information Agents or a broker or
dealer for assistance in accepting the Offer and in depositing
the Shares with the Depositary or the U.S.&nbsp;Forwarding Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Legal Matters</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Offeror is being advised in respect of certain matters
concerning the Offer by, and the opinions contained under
&#147;Canadian Federal Income Tax Considerations&#148; and
&#147;United States Federal Income Tax Considerations&#148; have
been provided by, Davies Ward Phillips
&#38;&nbsp;Vineberg&nbsp;LLP, Canadian counsel and United States
tax counsel to the Offeror. The Offeror is being advised in
respect of certain matters concerning the Offer by Cravath,
Swaine &#38;&nbsp;Moore&nbsp;LLP, United States counsel to the
Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Experts</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
As of the date hereof, the partners and associates of Davies
Ward Phillips &#38; Vineberg LLP, as a group, and the partners
and associates of Greenwoods &#38; Freehills Pty Limited, as a
group, beneficially owned directly or indirectly less than 1% of
the issued and outstanding securities of Placer Dome or the
Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='150'></A>
</DIV>

<!-- link1 "26.Stock Exchange Listing Applications" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>26.</B></TD>
    <TD>
    <B>Stock Exchange Listing Applications</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The TSX has conditionally approved the listing of the Barrick
Common Shares to be issued in connection with the Offer, subject
to standard terms and conditions. The Offeror will be applying
to list such Barrick Common Shares on the NYSE and the other
exchanges on which the Barrick Common Shares are listed.
</DIV>

<P align="center" style="font-size: 10pt;">77

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='141'></A>
</DIV>

<!-- link1 "27.Offerees&#146; Statutory Rights" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>27.</B></TD>
    <TD>
    <B>Offerees&#146; Statutory Rights</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Securities legislation in certain of the provinces and
territories of Canada provides Shareholders with, in addition to
any other rights they may have at law, rights of rescission or
to damages, or both, if there is a misrepresentation in a
circular or a notice that is required to be delivered to
Shareholders. However, such rights must be exercised within
prescribed time limits. Shareholders should refer to the
applicable provisions of the securities legislation of their
province or territory for particulars of those rights or consult
with a lawyer.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='153'></A>
</DIV>

<!-- link1 "28.Registration Statement Filed with the SEC" -->

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>28.&nbsp;Registration Statement Filed with the SEC</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Registration Statement on Form&nbsp;F-10 under the
U.S.&nbsp;Securities Act has been filed, which covers the Shares
to be issued pursuant to the Offer. The Offer and Circular do
not contain all of the information set forth in the Registration
Statement. Reference is made to the Registration Statement and
the exhibits thereto for further information.
</DIV>

<DIV align="left" style="font-size: 10pt;">
<A name='142'></A>
</DIV>

<!-- link1 "29.Directors&#146; Approval" -->

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><B>29.</B></TD>
    <TD>
    <B>Directors&#146; Approval</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The contents of the Offer and Circular have been approved, and
the sending thereof to the securityholders of Placer Dome has
been authorized, by the board of directors of the Offeror.
</DIV>

<P align="center" style="font-size: 10pt;">78
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='143'></A>
</DIV>

<!-- link1 "AUDITORS&#146; CONSENT" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>AUDITORS&#146; CONSENT</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We have read the Circular of Barrick Gold Corporation furnished
with Barrick Gold Corporation&#146;s Offer dated
November&nbsp;10, 2005 to purchase all of the issued and
outstanding common shares of Placer Dome&nbsp;Inc. We have
complied with Canadian generally accepted standards for an
auditor&#146;s involvement with offering documents.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We consent to the incorporation by reference in the
above-mentioned Offer and Circular of our report to the
shareholders of Barrick Gold Corporation (the
&#147;Company&#148;) on the consolidated balance sheets of the
Company as at December&nbsp;31, 2004 and 2003 and the
consolidated statements of income, cash flows,
shareholders&#146; equity and comprehensive income for each of
the years in the three-year period ended December&nbsp;31, 2004,
prepared in accordance with U.S.&nbsp;generally accepted
accounting principles. Our report is dated March&nbsp;15, 2005.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We also consent to the use in the above-mentioned Circular of
our report dated November&nbsp;10, 2005 to the Board of
Directors of the Company on the pro forma consolidated balance
sheet as at September&nbsp;30, 2005 and pro&nbsp;forma
consolidated income statements for the nine months then ended
and for the year ended December&nbsp;31, 2004.
</DIV>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="right">
    (signed)&nbsp;<FONT style="font-variant:SMALL-CAPS">PricewaterhouseCoopers
    LLP
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="right">
    Chartered Accountants</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
Toronto, Ontario
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
November&nbsp;10, 2005
</DIV>

<P align="center" style="font-size: 10pt;">79

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='144'></A>
</DIV>

<!-- link1 "CONSENT OF COUNSEL" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>CONSENT OF COUNSEL</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
To: The Directors of Barrick:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We hereby consent to the reference to our opinions contained
under &#147;Canadian Federal Income Tax Considerations&#148; and
&#147;United States&nbsp;Federal Income Tax Considerations&#148;
in the Circular accompanying the Offer dated November&nbsp;10,
2005 made by Barrick to the holders of Placer Dome Common Shares
and the reference to our opinions contained therein.
</DIV>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="right">
    (signed) <FONT style="font-variant:SMALL-CAPS">Davies Ward
    Phillips&nbsp;&#38; Vineberg LLP
    </FONT></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
Toronto, Ontario
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
November&nbsp;10, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 36pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
To: The Directors of Barrick:
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We hereby consent to the reference to our opinion contained
under &#147;Australian Income Tax Considerations&#148; in the
Circular accompanying the Offer dated November&nbsp;10, 2005
made by Barrick to the holders of Placer Dome Common Shares and
the reference to our opinion contained therein.
</DIV>

<DIV style="margin-top: 48pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="right">
    (signed)
    <FONT style="font-variant:SMALL-CAPS">Greenwoods&nbsp;&#38;
    Freehills Pty Limited
    </FONT></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
Sydney, Australia
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
November&nbsp;10, 2005
</DIV>

<P align="center" style="font-size: 10pt;">80

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='145'></A>
</DIV>

<!-- link1 "CERTIFICATE" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>CERTIFICATE</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The contents of the Offer and Circular have been approved, and
the sending thereof to the securityholders of Placer Dome has
been authorized, by the board of directors of the Offeror.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The foregoing contains no untrue statement of a material fact
and does not omit to state a material fact that is required to
be stated or that is necessary to make a statement not
misleading in the light of the circumstances in which it was
made. In addition, the foregoing does not contain any
misrepresentation likely to affect the value or the market price
of the securities subject to the Offer or the securities to be
distributed.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
DATED: November&nbsp;10, 2005
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 48pt; ">

<TR style="font-size: 1pt;">
    <TD width="52%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    (signed) <FONT style="font-variant:SMALL-CAPS">Gregory C.
    Wilkins<BR>
    </FONT>President and Chief Executive Officer</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    (signed) <FONT style="font-variant:SMALL-CAPS">Jamie C.
    Sokalsky<BR>
    </FONT>Executive Vice President and<BR>
    Chief Financial Officer</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="center" valign="top">
    <B>On behalf of the Board of Directors</B></TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    (signed) <FONT style="font-variant:SMALL-CAPS">Peter Munk<BR>
    </FONT>Director</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    (signed) <FONT style="font-variant:SMALL-CAPS">C. William D.
    Birchall<BR>
    </FONT>Director</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">81

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='146'></A>
</DIV>

<!-- link1 "SCHEDULE A" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SCHEDULE A</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">

</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="left" style="font-size: 10pt;">
<B>NOTE: The following compilation report is provided solely in
order to comply with applicable requirements of Canadian
securities laws. It should be noted that to report in accordance
with the U.S.&nbsp;Public Company Accounting Oversight Board
Auditing Standards (PCAOBAS) on a compilation of pro forma
financial statements an examination greater in scope than that
performed under Canadian standards would be required.</B>
</DIV>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>PRO FORMA CONSOLIDATED FINANCIAL STATEMENTS OF BARRICK GOLD
CORPORATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>COMPILATION REPORT ON PRO FORMA CONSOLIDATED FINANCIAL
STATEMENTS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
To the Directors of
</DIV>

<DIV align="left" style="font-size: 10pt;">
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT style="font-variant:SMALL-CAPS">Barrick
Gold Corporation
</FONT>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
We have read the accompanying unaudited pro forma consolidated
balance sheet of Barrick Gold Corporation
(&#147;<B>Barrick</B>&#148;) as at September&nbsp;30, 2005 and
unaudited pro forma consolidated income statements for the nine
months then ended and for the year ended December&nbsp;31, 2004,
and have performed the following procedures.
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>1.</TD>
    <TD align="left">
    Compared the figures in the columns captioned &#147;As
    reported&nbsp;&#151; Barrick&#148; to the unaudited consolidated
    financial statements of Barrick as at September&nbsp;30, 2005
    and for the nine months then ended, and the audited consolidated
    financial statements of Barrick for the year ended
    December&nbsp;31, 2004, respectively, and found them to be in
    agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>2.</TD>
    <TD align="left">
    Compared the figures in the columns captioned &#147;As
    reported&nbsp;&#151; Placer Dome&#148; to the unaudited
    consolidated financial statements of Placer Dome Inc. as at
    September&nbsp;30, 2005 and for the nine months then ended and
    the audited consolidated financial statements of Placer Dome
    Inc. for the year ended December&nbsp;31, 2004, respectively,
    and except for certain items that have been reclassified to
    conform with Barrick&#146;s consolidated financial statement
    presentation, we found them to be in agreement.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>3.</TD>
    <TD align="left">
    Made enquiries of certain officials of Barrick who have
    responsibility for financial and accounting matters about:</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="7%"></TD>
    <TD width="4%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    the basis for determination of the pro forma adjustments; and</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    whether the pro forma consolidated financial statements comply
    as to form in all material respects with the regulatory
    requirements of the various securities commissions and similar
    regulatory authorities in Canada.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The officials:
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="7%"></TD>
    <TD width="4%"></TD>
    <TD width="89%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    described to us the basis for determination of the pro forma
    adjustments; and</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    stated that the pro forma consolidated financial statements
    comply as to form in all material respects with the regulatory
    requirements of the various securities commissions and similar
    regulatory authorities in Canada.</TD>
</TR>

</TABLE>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>4.</TD>
    <TD align="left">
    Read the notes to the pro forma consolidated financial
    statements, and found them to be consistent with the basis
    described to us for determination of the pro forma adjustments.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>5.</TD>
    <TD align="left">
    Recalculated the application of the pro forma adjustments to the
    aggregate of the amounts in the columns captioned &#147;As
    reported&nbsp;&#151; Barrick&#148; and &#147;As
    reported&nbsp;&#151; Placer Dome&#148; as at September&nbsp;30,
    2005 and for the nine months then ended, and for the year ended
    December&nbsp;31, 2004, and found the amounts in the columns
    captioned &#147;Pro Forma Consolidated Barrick&#148; to be
    arithmetically correct.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A pro forma consolidated financial statement is based on
management assumptions and adjustments which are inherently
subjective. The foregoing procedures are substantially less than
either an audit or a review, the objective of which is the
expression of assurance with respect to management&#146;s
assumptions, the pro forma adjustments, and the application of
the adjustments to the historical financial information.
Accordingly, we express no such assurance. The foregoing
procedures would not necessarily reveal matters of significance
to the pro forma consolidated financial statements, and we
therefore make no representation about the sufficiency of the
procedures for the purposes of a reader of such statements.
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="40%"></TD>
    <TD width="60%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="center">
    (signed)
    <FONT style="font-variant:SMALL-CAPS">Pricewaterhousecoopers llp
    </FONT></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD align="center">
    Chartered Accountants</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt;">
Toronto, Canada
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 8pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
November&nbsp;10, 2005
</DIV>

<P align="center" style="font-size: 10pt;">A-1
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>UNAUDITED PRO FORMA CONSOLIDATED BALANCE
SHEET</B><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
</DIV>

<DIV align="center" style="font-size: 10pt;">
As at September&nbsp;30, 2005
</DIV>

<DIV align="center" style="font-size: 10pt;">
(in millions of United States dollars)
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>As reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Consolidated</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Placer Dome</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Adjustments</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Note&nbsp;2</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="20" align="center" valign="top">
    <B>ASSETS</B></TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Current assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cash and equivalents</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,105</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>935</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>173</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    a</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2,213</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Restricted cash</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>153</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>153</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Accounts receivable</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>133</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>183</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Inventories</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>361</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>275</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>636</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other current assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>324</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>138</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>462</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,840</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,634</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>173</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,647</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Available for sale securities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>71</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>97</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Equity method investments</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>144</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>181</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Property, plant and equipment</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,982</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,591</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6,573</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Capitalized mining costs</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>222</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(222</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    b</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>753</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>631</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(17</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    c</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,367</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Goodwill</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>454</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(454</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    d</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Unallocated purchase price</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,336</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    e</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,336</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total assets</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,790</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>5,595</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,816</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>19,201</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="20">&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="20" align="center" valign="top">
    <B>LIABILITIES AND SHAREHOLDERS&#146; EQUITY</B></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Current liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Accounts payable</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>421</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>254</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    f</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>700</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Short term debt</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>50</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>189</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,224</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    g</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,463</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other current liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>39</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>54</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>93</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>510</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>497</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,249</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,256</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Long-term debt</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,763</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,107</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,870</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other long-term obligations</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>565</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>554</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>809</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    h</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,928</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Deferred income tax liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>148</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>237</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>385</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total liabilities</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,986</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,395</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,058</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,439</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Shareholders&#146; equity</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Capital stock</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,218</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,525</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>173</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    a</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>12,176</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(2,698</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    i</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7,958</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    j</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Retained earnings (Deficit)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(455</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>602</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(602</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    k</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(455</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Accumulated other comprehensive income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(3</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    l</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>41</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Contributed Surplus</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>70</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(70</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    m</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total shareholders&#146; equity</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,804</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,200</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4,758</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>11,762</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total liabilities and shareholders&#146; equity</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,790</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>5,595</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>6,816</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>19,201</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV style="margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(1)</TD>
    <TD align="left">
    See accompanying notes to the unaudited pro forma consolidated
    financial statements.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">A-2
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF
INCOME</B><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
</DIV>

<DIV align="center" style="font-size: 10pt;">
For the nine months ended September&nbsp;30, 2005
</DIV>

<DIV align="center" style="font-size: 10pt;">
(in millions of United States dollars, except per share data in
dollars)
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="42%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>As Reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Consolidated</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Placer Dome</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Adjustments</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Note&nbsp;2</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,574</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,439</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,013</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Costs and expenses</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cost of
    sales<SUP style="font-size: 85%; vertical-align: text-top">A</SUP></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>847</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>953</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,800</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Amortization</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>298</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>195</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>493</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Administration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>53</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>48</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>101</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Exploration, development and business development</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>95</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>121</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>216</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other expense</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>26</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>14</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>40</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,319</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,331</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,650</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Interest income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>28</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>37</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>2</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    n</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>67</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Equity in investees</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(2</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Interest expense</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(1</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(69</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(25</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    o</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(95</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income before income taxes and other items</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>280</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>80</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(23</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>337</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income tax expense</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(60</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(9</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>9</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    p</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(60</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Minority interest</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income before cumulative effect of changes in accounting
    principles</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>220</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>72</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(14</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>278</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cumulative effect of changes in accounting principles, net of tax</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(14</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(8</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>226</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>58</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(14</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>270</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Earnings per share data:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income before cumulative effect of changes in accounting
    principles</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Basic and diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.41</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.16</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.34</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Basic and diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.42</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.13</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 5pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
A&nbsp;&nbsp;&nbsp;Exclusive of amortization.
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(1)</TD>
    <TD align="left">
    See accompanying notes to the unaudited pro forma consolidated
    financial statements.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">A-3

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF
INCOME</B><SUP style="font-size: 85%; vertical-align: text-top">(1)</SUP>
</DIV>

<DIV align="center" style="font-size: 10pt;">
For the year ended December&nbsp;31, 2004
</DIV>

<DIV align="center" style="font-size: 10pt;">
(in millions of United States dollars, except per share data in
dollars)
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="41%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="2%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="4%">&nbsp;</TD>
</TR>


<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap><B>As Reported</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="6" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Pro Forma</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Consolidated</B></TD><TD></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Placer Dome</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Adjustments</B></TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Note&nbsp;2</B></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>Barrick</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Sales</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,932</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>1,888</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3,820</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Costs and expenses</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cost of
    sales<SUP style="font-size: 85%; vertical-align: text-top">A</SUP></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,071</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,149</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>2,220</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Amortization</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>452</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>255</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>707</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Administration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>71</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>64</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>135</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Exploration, development and business development</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>141</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>140</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>281</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Other expense</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>158</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>81</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>239</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,893</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,689</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>3,582</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Interest income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>22</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>3</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    n</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>50</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Equity in investees</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>7</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Interest expense</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(19</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(77</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(15</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    o</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(111</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income before income taxes and other items</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>45</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>151</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(12</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>184</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income tax recovery</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>203</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>130</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>6</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    p</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>339</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Minority interest</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(1</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(1</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income before cumulative effect of change in accounting
    principles</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>248</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>280</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>(6</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>522</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cumulative effect of changes in accounting principles, net of tax</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&#151;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>4</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>248</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>284</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>(6</TD>
    <TD align="left" valign="bottom" nowrap>)</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>526</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Earnings per share data:</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Income before cumulative effect of changes in accounting
    principles</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.47</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.67</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.63</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.65</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.63</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="2" align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Net income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.47</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.68</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.64</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.46</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.67</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.64</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD colspan="2"><FONT style="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 3pt;">
<DIV style="width: 18%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
A&nbsp;&nbsp;&nbsp;Exclusive of amortization.
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(1)</TD>
    <TD align="left">
    See accompanying notes to the unaudited pro forma consolidated
    financial statements.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">A-4

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<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTES TO UNAUDITED PRO FORMA CONSOLIDATED FINANCIAL
STATEMENTS</B>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Note&nbsp;1&nbsp;&#151; Basis of presentation</B>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
This unaudited pro forma consolidated financial statement
information has been prepared by management of Barrick, in
accordance with United States generally accepted accounting
principles (US GAAP), for illustrative purposes only to show the
effect of the acquisition of Placer Dome by Barrick. The
unaudited pro forma consolidated financial statement information
assumes that Barrick will acquire all of Placer Dome&#146;s
outstanding shares as well as shares issued on the exercise of
all in-the-money stock options. Barrick has entered into an
agreement with Goldcorp, which, subject to various conditions,
would result in the sale of certain operations and projects of
Placer Dome, including the Canadian operations, the La Coipa
mine and a 40% interest in the Pueblo Viejo project. Barrick
would receive approximately $1,350&nbsp;million in cash from
Goldcorp for these assets. The effect of this sale on the
financial position and results of operations of Barrick has not
been reflected in this unaudited pro forma consolidated
financial statement information because of a lack of complete
publicly available information relating to the assets,
liabilities, revenues and expenses of the operations to be sold
to Goldcorp and also because the final price adjustments
relating to the Goldcorp sale agreement cannot be definitively
estimated at the date hereof.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The unaudited pro forma consolidated financial statement
information is not intended to be indicative of the results that
would actually have occurred, or the results expected in future
periods, had the events reflected herein occurred on the dates
indicated. Actual amounts recorded upon consummation of the
transaction contemplated by the Offer will differ from those
recorded in the unaudited pro forma consolidated financial
statement information. No attempt has been made to calculate or
estimate the effect of harmonization of accounting policies or
practices between Barrick and Placer Dome due to the limited
nature of publicly available information relating to Placer
Dome. Any potential synergies that may be realized after
consummation of the transaction have been excluded from the
unaudited pro forma financial statement information. The
information prepared is only a summary. Additional historical
financial information about Barrick is available from the
sources described under &#147;Documents Incorporated by
Reference&#148; in Section&nbsp;11 of the Circular.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The unaudited pro forma consolidated balance sheet as at
September&nbsp;30, 2005 has been prepared from the unaudited
consolidated balance sheets of Barrick and Placer Dome as at
September&nbsp;30, 2005, after giving pro forma effect to the
acquisition of Placer Dome by Barrick as though it had occurred
on September&nbsp;30, 2005, based on the assumptions in
note&nbsp;2.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The unaudited pro forma consolidated statements of income for
the nine months ended September&nbsp;30, 2005 and the year ended
December&nbsp;31, 2004 have been prepared from the unaudited
statements of income for each of Barrick and Placer Dome for the
nine months ended September&nbsp;30, 2005 and the audited
statements of income for each of Barrick and Placer Dome for the
year ended December&nbsp;31, 2004, after giving pro forma effect
to the acquisition of Placer Dome by Barrick as if it had
occurred on January&nbsp;1, 2004, based on the assumptions in
note&nbsp;2.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The unaudited pro forma consolidated financial statement
information should be read in conjunction with the historical
consolidated financial statements of Barrick and Placer Dome for
each of the nine-month periods ended September&nbsp;30, 2005 and
the year ended December&nbsp;31, 2004, which are available from
the sources described under &#147;Documents Incorporated by
Reference&#148; in Section&nbsp;11 of the Circular, in the case
of Barrick, and under &#147;Placer Dome&#148; in Section&nbsp;2
of the Circular, in the case of Placer Dome. Certain of Placer
Dome&#146;s assets, liabilities, income and expenses have been
reclassified to conform with Barrick&#146;s consolidated
financial statement presentation.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Note&nbsp;2&nbsp;&#151; Pro forma assumptions and
adjustments</B>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The proposed acquisition by Barrick of Placer Dome will be
accounted for under US GAAP using the purchase method of
accounting. The results of operations of Placer Dome will be
included in the consolidated financial statements of Barrick
from the date of acquisition. Certain adjustments have been
reflected in this unaudited pro forma consolidated financial
statement information to illustrate the effects of purchase
accounting.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
On September&nbsp;30, 2005, Placer Dome had convertible debt and
stock options outstanding, which if converted/exercised would
result in an increase in Placer Dome common shares outstanding
by approximately 25.1&nbsp;million shares. This unaudited pro
forma financial statement information reflects the issuance by
Placer Dome of approximately 11.2&nbsp;million shares on
exercise of in-the-money stock options of Placer Dome at
September&nbsp;30, 2005, but excludes the impact of
13.9&nbsp;million potential shares that could theoretically be
issued due to the conversion/exercise of Placer Dome&#146;s
convertible debt and other stock options.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
For purposes of preparing the unaudited pro forma consolidated
balance sheet, Barrick has made certain assumptions. The
unaudited pro forma consolidated financial statement information
assumes the completion of a business combination whereby
447.9&nbsp;million shares of Placer Dome at September&nbsp;30,
2005 (including shares related to in-the-money Placer Dome stock
options) are acquired for total consideration of
$9,182&nbsp;million, comprising 292.6&nbsp;million common shares
of Barrick, and $1,224&nbsp;million in cash. For the purpose of
this unaudited pro forma financial statement information,
Barrick has assumed that the maximum cash component of the Offer
will be reached. The final amount of the cash portion of the
consideration will depend on decisions relating to the exercise
of options by holders of Placer Dome stock options, the
conversion, if any, of Placer Dome&#146;s convertible
debentures, and elections made by shareholders of Placer Dome on
acceptance of Barrick&#146;s offer.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The measurement of the purchase consideration in the unaudited
pro forma consolidated financial statement information is based
on a Barrick common share price of $27.20, representing the
closing price on the New York Stock Exchange on October&nbsp;28,
2005, the last trading day prior to the public announcement of
Barrick&#146;s proposed acquisition of Placer Dome. Under US
GAAP, the actual measurement date of the purchase consideration
will occur on the earlier of a) the date when sufficient shares
have been tendered to make the offer binding or b) the date when
Placer Dome agrees to the purchase price. The value of the
purchase consideration will be based on the market prices of
Barrick common shares for three days before and after the
measurement date. Consequently, the value of the purchase
consideration for accounting purposes will differ from the
amount assumed in the unaudited pro forma financial statement
information due to any future changes in the market price of
Barrick common shares.
</DIV>

<P align="center" style="font-size: 10pt;">A-5

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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The unaudited pro forma consolidated financial information
assumes the cost of acquisition will be as follows:
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="80%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="8%">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>($ millions)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Value of 292.6&nbsp;million Barrick common shares at $27.20 per
    share</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>7,958</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Cash</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1,224</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Barrick transaction costs</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>25</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Total purchase consideration</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>9,207</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Due to the limited nature of publicly available information,
Barrick has not been able to determine the fair value of all
identifiable assets and liabilities acquired or the complete
impact of applying purchase accounting on the income statement.
After reflecting the pro forma purchase adjustments, the excess
of the purchase consideration over the adjusted book values of
Placer Dome&#146;s assets and liabilities has been presented as
&#147;unallocated purchase price.&#148; Upon consummation of the
proposed acquisition of Placer Dome, the fair value of all
identifiable assets and liabilities acquired will be determined.
On completion of valuations, with a corresponding adjustment to
the historic carrying amounts of property, plant and equipment,
or on recording of any finite life intangible assets on
acquisition, these adjustments will impact the measurement of
amortization recorded in consolidated income statements of
Barrick for periods after the date of acquisition. Barrick
estimates that a $100&nbsp;million adjustment to the carrying
amount of property, plant and equipment of Placer Dome would
result in a corresponding adjustment to amortization expense in
the pro forma statement of income by approximately
$4&nbsp;million for the nine months ended September&nbsp;30,
2005 and by approximately $6&nbsp;million for the year ended
December&nbsp;31, 2004. No pro forma adjustments have been
reflected for any changes in deferred tax assets or liabilities
that would result from recording Placer Dome&#146;s identifiable
assets and liabilities at fair value due to the limited nature
of publicly available information.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Pro forma adjustments to consolidated balance sheet</I></B>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The unaudited pro forma consolidated balance sheet reflects the
following adjustments as if the acquisition had occurred on
September&nbsp;30, 2005:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="3%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    An increase in cash and equivalents by $173&nbsp;million with a
    corresponding increase in Placer Dome&#146;s capital stock, to
    reflect the proceeds received by Placer Dome on exercise of
    11.2&nbsp;million in-the-money Placer Dome stock options.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    A reduction in capitalized mining costs by $222&nbsp;million to
    de-recognize this asset of Placer Dome, which will not be
    recorded as a separate identifiable asset on acquisition.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    A reduction in other assets by $17&nbsp;million to de-recognize
    deferred debt issue costs of Placer Dome that will not be
    recorded as a separate identifiable asset on acquisition.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    A reduction in goodwill by $454&nbsp;million to de-recognize
    goodwill recorded by Placer Dome in previous acquisitions.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(e)</TD>
    <TD align="left">
    An adjustment of $7,336&nbsp;million to reflect the unallocated
    purchase price.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(f)</TD>
    <TD align="left">
    An increase in accounts payable by $25&nbsp;million to record
    estimated Barrick transaction costs relating to the purchase.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(g)</TD>
    <TD align="left">
    An increase in short-term debt by $1,224&nbsp;million to reflect
    temporary financing by Barrick for the cash component of the
    Offer. On closing of the sale of various operations to Goldcorp,
    Barrick intends to use the cash proceeds of $1,350&nbsp;million
    to repay this temporary financing.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(h)</TD>
    <TD align="left">
    An increase in other long-term obligations by $809&nbsp;million
    to record the estimated fair value of Placer Dome&#146;s metal
    sales contracts.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(i)</TD>
    <TD align="left">
    A reduction in capital stock of $2,698&nbsp;million to
    de-recognize Placer Dome&#146;s historic capital stock
    (including the adjustment for the assumed exercise of
    in-the-money stock options).</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(j)</TD>
    <TD align="left">
    An increase in capital stock by $7,958&nbsp;million to record
    the assumed value of common shares of Barrick issued in respect
    of the assumed share component of the Offer.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(k)</TD>
    <TD align="left">
    An adjustment of $602&nbsp;million to de-recognize Placer
    Dome&#146;s historic retained earnings.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(l)</TD>
    <TD align="left">
    An adjustment of $3&nbsp;million to de-recognize Placer
    Dome&#146;s historic accumulated other comprehensive income.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(m)</TD>
    <TD align="left">
    An adjustment of $70&nbsp;million to de-recognize Placer
    Dome&#146;s historic contributed surplus.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Except for the adjustments described above, Barrick has not been
able to determine the fair value of identifiable assets and
liabilities acquired because of a lack of publicly available
information.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Pro forma adjustments to consolidated statements of
income</I></B>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The unaudited pro forma consolidated statements of income
reflect the following adjustments as if the acquisition had
occurred on January&nbsp;1, 2004:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="3%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(n)</TD>
    <TD align="left">
    An increase in interest income by $2&nbsp;million for the nine
    months ended September&nbsp;30, 2005 and by $3&nbsp;million for
    the year ended December&nbsp;31, 2004 to reflect interest income
    earned on the cash proceeds generated by the exercise of Placer
    Dome stock options.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(o)</TD>
    <TD align="left">
    An increase in interest expense by $25&nbsp;million for the nine
    months ended September&nbsp;30, 2005 and by $15&nbsp;million for
    the year ended December&nbsp;31, 2004 to reflect the interest
    costs (net of amounts that would have been capitalized to
    Barrick development projects) relating to the cash component of
    the Offer which Barrick has assumed will be financed through
    credit facilities.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(p)</TD>
    <TD align="left">
    A credit to tax expense/recovery of $9&nbsp;million for the nine
    months ended September&nbsp;30, 2005 and of $6&nbsp;million for
    the year ended December&nbsp;31, 2004 to reflect the tax effect
    of the interest income and interest expense adjustment.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">A-6

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 8pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Note&nbsp;3&nbsp;&#151; Pro forma earnings per share</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD>A.</TD>
    <TD align="left">
    For the nine-month period ended September&nbsp;30, 2005</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="3%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    Pro forma basic earnings per share</TD>
</TR>

</TABLE>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="62%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(millions of shares or US dollars,</B></TD><TD></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>except per share data in dollars)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Actual weighted average number of Barrick common shares
    outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>535.2</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Assumed number of Barrick common shares issued to Placer Dome
    shareholders</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>292.6</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma weighted average number of Barrick common shares
    outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>827.8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma net income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>270</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma earnings per share&nbsp;&#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="3%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    Pro forma diluted earnings per share</TD>
</TR>

</TABLE>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="62%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(millions of shares or US dollars,</B></TD><TD></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>except per share data in dollars)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma weighted average number of Barrick common shares
    outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>827.8</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Dilutive effect of Barrick stock options</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.5</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma weighted average number of Barrick common shares
    outstanding&nbsp;&#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>829.3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma earnings per share&nbsp;&#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.33</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD>B.</TD>
    <TD align="left">
    For the year ended December&nbsp;31, 2004</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="3%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    Pro forma basic earnings per share</TD>
</TR>

</TABLE>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="62%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(millions of shares or US dollars,</B></TD><TD></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>except per share data in dollars)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Actual weighted average number of Barrick common shares
    outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>533.1</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Assumed number of Barrick common shares issued to Placer Dome
    shareholders</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>292.6</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma weighted average number of Barrick common shares
    outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>825.7</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma net income</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>526</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma earnings per share&nbsp;&#151; basic</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.64</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="6%"></TD>
    <TD width="3%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    Pro forma diluted earnings per share</TD>
</TR>

</TABLE>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="62%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
    <TD width="1%">&nbsp;</TD>
    <TD width="17%">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>(millions of shares or US dollars,</B></TD><TD></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap><B>except per share data in dollars)</B></TD><TD></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD><TD></TD>
</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma weighted average number of Barrick common shares
    outstanding</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>825.7</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Dilutive effect of Barrick stock options</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>1.3</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR valign="bottom" bgcolor="#cceeff">
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma weighted average number of Barrick common shares
    outstanding&nbsp;&#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">&nbsp;</TD>
    <TD align="right" valign="bottom" nowrap>827.0</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Pro forma earnings per share&nbsp;&#151; diluted</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="bottom">$</TD>
    <TD align="right" valign="bottom" nowrap>0.64</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="2" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">A-7

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='147'></A>
</DIV>

<!-- link1 "SCHEDULE B" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SCHEDULE B</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<IMG src="t18587fbarckltr.gif" alt="(BARRICK GOLD LETTERHEAD)">
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
October&nbsp;31, 2005
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><U>Delivered by Fax and overnight courier</U></B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 11pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="70%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="27%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    Mr. Robert M. Franklin<BR>
    Non-executive Chairman of the Board<BR>
    Placer Dome Inc.<BR>
    Suite&nbsp;3201<BR>
    130 Adelaide Street West<BR>
    Toronto, ON<BR>
    Fax: 416 363 5950</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Mr. Peter W. Tomsett<BR>
    President and CEO<BR>
    Placer Dome Inc.<BR>
    Suite&nbsp;1600, Bentall IV<BR>
    1055 Dunsmuir Street<BR>
    Vancouver, BC<BR>
    Fax: 604 682 7092</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 11pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Gentlemen:
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
As you are aware, Barrick announced earlier today our intention
to make a cash and stock offer for all of the outstanding shares
of Placer Dome. We believe our offer generates significant value
for Placer Dome&#146;s shareholders through the initial premium
to market as well as the ability of Placer Dome&#146;s
shareholders to participate in the ownership of the combined
company.
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The combination of Barrick and Placer Dome will have a solid
foundation of operating assets and financial resources, and an
unrivalled pipeline of projects. There is a natural
fit&nbsp;between key Placer Dome assets and our own. By
combining the strengths of our two organizations, we will be
able to capture substantial synergies and improve operational
efficiencies at a time when the entire mining sector is dealing
with the challenges of a rising cost environment. Together, our
financial strength will enable us to develop a pipeline of
projects and jointly undertake extensive exploration
opportunities. We are excited about the prospect of creating a
Canadian based, world class company in order to deliver value to
our respective shareholders. In addition, we believe that it is
also an exciting opportunity for Placer Dome employees, whose
dedication and skills we value highly. We look forward to
working with them in realizing the potential growth of the
combined company.
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
It is a key component of our offer that we are able to utilize
the Canadian tax cost &#147;bump&#148;&nbsp;to increase the tax
cost of Placer Dome&#146;s directly held subsidiaries. The bump
allows us to price the offer at an attractive premium because we
can structure a number of post-acquisition transactions in a
very tax-efficient manner for the benefit of all shareholders,
including our backstop arrangements with Goldcorp, possible
asset dispositions to other third parties, and various other
post-acquisition reorganizations to integrate Placer Dome assets
tax effectively into our existing corporate group. You will <BR>
</DIV>

<P align="center" style="font-size: 10pt;">B-1
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 11pt;">
see in our bid documents when they are mailed that our offer is
conditional on Placer Dome not undertaking any reorganization or
other action that would render the bump unavailable. Any attempt
to thwart our ability to access the bump will be destructive of
Placer Dome shareholder value and will accordingly be viewed
very negatively.
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
We trust you will provide a copy of this letter to each of your
directors so that they are fully informed on these key matters.
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 24pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Yours very truly,
</DIV>

<DIV align="left" style="font-size: 10pt;">
<IMG src="t18587ft1844302.gif" alt="-s- Gregory C. Wilkins">
</DIV>

<DIV align="left" style="font-size: 11pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Gregory C. Wilkins
</DIV>

<DIV align="left" style="font-size: 11pt;">
President and Chief Executive Officer
</DIV>

<DIV align="left" style="font-size: 12pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>BARRICK</B>
</DIV>

<P align="center" style="font-size: 10pt;">B-2
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<A name='151'></A>
</DIV>

<!-- link1 "SCHEDULE C" -->

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SCHEDULE C</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>INFORMATION CONCERNING THE DIRECTORS</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>AND EXECUTIVE OFFICERS OF THE OFFEROR</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The following table sets forth the name, present principal
occupation or employment, and material occupations, positions,
offices or employments for the past five years and the country
of citizenship, of each director and executive officer of the
Offeror.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="37%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B><I>Citizenship</I></B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" nowrap><B><I>Position with the Offeror. </I>Present Principal Occupation or Employment;</B></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>(Age)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" nowrap><B>Material Positions held during the last five years</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Peter Munk<BR>
     </B><I>Canada<BR>
    </I>(78)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Chairman and Director of the Offeror. </I>Chairman, Trizec
    Properties, Inc. and Chairman, President and Chief Executive
    Officer, TrizecHahn Corporation (real estate).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>C. William D. Birchall<BR>
     </B><I>United Kingdom<BR>
    </I>(63)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Vice Chairman and Director of the Offeror.
    </I>Vice&nbsp;Chairman and Director, Chief Executive Officer of
    the Offeror&#146;s subsidiary, ABX Financeco Inc.; prior to
    January 2004, Corporate Director; prior to May 2002, Vice
    Chairman, Trizechahn Corporation (real estate).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Gregory C. Wilkins<BR>
     </B><I>Canada<BR>
    </I>(49)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>President, Chief Executive Officer and Director of the
    Offeror. </I>Prior to February 2003, Corporate Director; prior
    to May 2002, Vice&nbsp;Chairman, TrizecHahn Corporation (real
    estate); prior to March 2001, President and Chief Executive
    Officer, TrizecHahn Corporation.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Howard L. Beck<BR>
     </B><I>Canada<BR>
    </I>(72)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Director of the Offeror. </I>Corporate Director; prior to
    November 2002, Chairman, Wescam Inc. (design and manufacture of
    stabilized imagery and transmission systems).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Gustavo Cisneros<BR>
     </B><I>Venezula<BR>
    </I>(60)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Director of the Offeror. </I>Chairman and Chief Executive
    Officer, Cisneros Group of Companies (private holding group).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Marshall A. Cohen<BR>
     </B><I>Canada<BR>
    </I>(70)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Director of the Offeror. </I>Counsel, Cassels, Brock &#38;
    Blackwell LLP (Barristers and Solicitors).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Peter A. Crossgrove<BR>
     </B><I>Canada<BR>
     </I>(68)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Director of the Offeror. </I>Prior to May 2005, Chairman,
    Masonite International Corporation (door manufacturing).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Peter C. Godsoe<BR>
     </B><I>Canada<BR>
     </I>(67)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Director of the Offeror. </I>Corporate Director; prior to
    March 2004, Chairman, The Bank of Nova Scotia (financial
    services); prior to December 2003, Chairman and Chief Executive
    Officer, The Bank of Nova Scotia.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Angus A. MacNaughton<BR>
     </B><I>Canada<BR>
     </I>(74)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Director of the Offeror. </I>President, Genstar Investment
    Corporation (investment company).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>The Right Honourable Brian Mulroney<BR>
     </B><I>Canada<BR>
     </I>(66)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Director of the Offeror. </I>Chairman, International Advisory
    Board of the Offeror; Senior Partner, Ogilvy Renault (Barristers
    and Solictors); former Prime Minister of Canada.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Anthony Munk<BR>
     </B><I>Canada<BR>
     </I>(45)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Director of the Offeror. </I>Managing Director, Onex
    Investment Corp. (diversified manufacturing and service
    company); prior to May 2001, Vice-President, Onex Corporation
    (diversified manufacturing and service company).</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">C-1
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="37%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B><I>Citizenship</I></B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" nowrap><B><I>Position with the Offeror. </I>Present Principal Occupation or Employment;</B></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>(Age)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" nowrap><B>Material Positions held during the last five years</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Joseph L. Rotman<BR>
     </B><I>Canada<BR>
     </I>(70)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Director of the Offeror. </I>Chairman and Chief Executive
    Officer, Roy-L Capital Corporation (private holding company).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Steven J. Shapiro<BR>
     </B><I>United States<BR>
    </I>(53)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Director of the Offeror. </I>Executive Vice-President,
    Finance and Corporate Development, Burlington Resources Inc.
    (oil and gas exploration and production); prior to April 2005,
    Executive Vice-President and Chief Financial Officer of
    Burlington Resources Inc.; prior to January 2003, Senior Vice
    President and Chief Financial Officer, Burlington Resources,
    Inc.; prior to October 2000, Senior Vice-President and Chief
    Financial Officer, Vastar Resources, Inc. (oil and gas
    exploration and production).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Alexander J. Davidson<BR>
     </B><I>Canada<BR>
     </I>(54)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Executive Vice President, Exploration and Corporate
    Development of the Offeror. </I>Prior to March 2005, Executive
    Vice President, Exploration of the Offeror; prior to May 2003,
    Senior Vice President, Exploration of the Offeror.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Patrick J. Garver<BR>
     </B><I>Canada, United&nbsp;States<BR>
     </I>(53)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Executive Vice President and General Counsel of the
    Offeror.</I></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Peter J. Kinver<BR>
     </B><I>United Kingdom<BR>
     </I>(50)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Executive Vice President and Chief Operating Officer of the
    Offeror. </I>Prior to February 2004, Executive Vice President,
    Operations of the Offeror; prior to August 2003, Divisional
    Director, Western Division Anglo American Platinum plc (platinum
    mining).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Jamie C. Sokalsky<BR>
     </B><I>Canada<BR>
     </I>(48)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Executive Vice President and Chief Financial Officer of the
    Offeror. </I>Prior to April 2004, Senior Vice President and
    Chief Financial Officer of the Offeror.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Gordon F. Fife<BR>
     </B><I>Canada<BR>
     </I>(47)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Senior Vice President, Organizational Effectiveness of the
    Offeror. </I>Prior to February 2004, Vice President,
    Organizational Effectiveness of the Offeror; prior to January
    2002, Principal, PricewaterhouseCoopers LLP (consulting).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Kelvin Dushnisky<BR>
     </B><I>Canada<BR>
     </I>(42)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Senior Vice President, Corporate Affairs of the Offeror.
    </I>Prior to September, 2005, Vice President, Regulatory Affairs
    of the Offeror; prior to May 2003, Director, Regulatory Affairs
    of the Offeror; prior to April 2002, Managing Director, Altara
    Securities Inc. (financial services); prior to August 2001, Vice
    Chair and General Counsel, EuroZinc Mining Corporation (metals
    mining).</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Igor Gonzales<BR>
     </B><I>Peru<BR>
     </I>(50)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>President, South America of the Offeror. </I>Prior to
    September, 2005, Vice President, Peru of the Offeror; prior to
    February 2004, Vice President and General Manager, Pierina Mine,
    of the Offeror.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Gregory A. Lang<BR>
     </B><I>United States<BR>
     </I>(50)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>President, North American Operations of the Offeror.
    </I>Prior to September, 2005, Vice President, North American
    Operations of the Offeror. Prior to February 2004, Vice
    President, Australian Operations of the Offeror. Prior to
    December 2001, Vice President, Australia, Homestake Mining
    Company (gold mining).</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">C-2

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="37%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="60%">&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>Name</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B><I>Citizenship</I></B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" nowrap><B><I>Position with the Offeror. </I>Present Principal Occupation or Employment;</B></TD>
</TR>

<TR style="font-size: 8pt;">
    <TD align="left" nowrap><B>(Age)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" nowrap><B>Material Positions held during the last five years</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>Ren&#233; L. Marion<BR>
     </B><I>Canada<BR>
     </I>(43)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>Vice President, Russia and Central Asia of the Offeror.
    </I>Prior to September 2005, Vice President, Technical Services
    of the Offeror. Prior to February 2004, Vice President and
    General Manager, Kahama Mining of the Offeror. Prior to July
    2003, Corporate Head, Evaluations and Development of the
    Offeror. Prior to April 2002, Senior Manager, Development of the
    Offeror. Prior to January 2001, Staff Mining Engineer of the
    Offeror.</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <B>John Shipp<BR>
     </B><I>Australia<BR>
     </I>(58)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <I>President, Australia/ Africa of the Offeror. </I>Prior to
    September 2005, Vice President Australia/ Africa of the Offeror;
    prior to September 2004, Executive General Manager of Operations
    for Australia of the Offeror; prior to January 2004, General
    Manager at Kalgoorie Consolidated Gold Mines.</TD>
</TR>

</TABLE>
</CENTER>

<P align="center" style="font-size: 10pt;">C-3
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Depositary for the Offer is:</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>CIBC Mellon Trust&nbsp;Company</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 2pt; ">

<TR style="font-size: 1pt;">
    <TD width="51%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>By Mail</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>By Registered Mail, by Hand or by Courier</B></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    P.O. Box 1036<BR>
    Adelaide Street Postal Station<BR>
    Toronto, Ontario M5C 2K4</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    199 Bay Street<BR>
    Commerce Court West<BR>
    Securities Level<BR>
    Toronto, Ontario M5L 1G9</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="center" style="font-size: 10pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Telephone: (416)&nbsp;643-5500
</DIV>

<DIV align="center" style="font-size: 10pt;">
Toll Free: 1-800-387-0825
</DIV>

<DIV align="center" style="font-size: 10pt;">
E-Mail: inquiries@cibcmellon.com
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The U.S. Forwarding Agent is:</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Mellon Investor Services LLC</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="65%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="center" valign="top">
    <B>By Mail, Registered Mail, by Hand or by Courier</B></TD>
</TR>

<TR>
    <TD colspan="3" align="center" valign="top">
    120 Broadway, 13th Floor<BR>
    <BR>
    New York, New York 10027<BR>
    Toll Free: 1-800-777-3674</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Dealer Managers for the Offer are:</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="54%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="43%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I>In Canada</I></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <I>In the United States</I></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <B>RBC Dominion Securities Inc.&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>RBC Capital Markets Corporation</B></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    200 Bay Street, 4th Floor<BR>
    Royal Bank Plaza, South Tower<BR>
    Toronto, Ontario M5J 2W7</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    Two Embarcadero Center<BR>
    Suite 1200<BR>
    San Francisco, California 94111</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    Telephone: (416)&nbsp;842-7517<BR>
    Toll Free: 1-866-293-4855</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    Toll Free: 1-866-293-4855</TD>
</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 6pt; ">

<TR style="font-size: 1pt;">
    <TD width="49%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <B>Merrill Lynch Canada Inc.&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Merrill Lynch, Pierce, Fenner &#38; Smith Incorporated</B></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    181 Bay Street, 4th Floor<BR>
    Toronto, Ontario<BR>
    M5J 2V8<BR>
    Telephone: (416) 369-2888</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    1400 Merrill Lynch Drive<BR>
    MSC-0401N<BR>
    Pennington, New Jersey 08534<BR>
    Telephone: (609)&nbsp;818-8000<BR>
    Toll Free: 1-877-653-2948</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Information Agents for the Offer are:</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 2pt; ">

<TR style="font-size: 1pt;">
    <TD width="50%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I>For Shareholders in Canada</I></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <I>For Shareholders in the<BR>
    U.S. and other locations</I></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <IMG src="t18587fkingslgo.gif" alt="(KINGSDALE LOGO)"></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <IMG src="t18587fmkenzlgo.gif" alt="(MACKENZIE LOGO)"></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    The Exchange Tower<BR>
    130 King Street West, Suite 2950<BR>
    Toronto, Ontario<BR>
    M5X 1C7<BR>
    <BR>
    Toll Free: 1-866-877-2571<BR>
    shareholder@kingsdalecapital.com<BR>
    Facsimile: 416-867-2271<BR>
    Toll Free Facsimile: 1-866-545-5580<BR>
    Canadian Banks and Brokers Call Collect: 416-867-2342</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    105 Madison Avenue<BR>
    New York, New York 10016<BR>
    proxy@mackenziepartners.com<BR>
    Telephone: (212) 929-5500 (call collect)<BR>
    Toll Free: (800) 322-2885 (English)<BR>
    Toll Free: (888) 405-1217 (French)</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="center" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Any questions and requests for assistance may be directed by
holders of Shares to the Depositary, the U.S. Forwarding Agent,
the Dealer Managers or the Information Agents at their
respective telephone numbers and locations set out above.
Shareholders may also contact their broker, dealer, commercial
bank, trust company or other nominee for assistance concerning
the Offer.</B>
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.2
<SEQUENCE>3
<FILENAME>t18587fexv1w2.htm
<DESCRIPTION>EXHIBIT 1.2
<TEXT>
<HTML>
<HEAD>
<TITLE>exv1w2</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<B><I>THE INSTRUCTIONS ACCOMPANYING THIS LETTER OF TRANSMITTAL
SHOULD BE READ CAREFULLY BEFORE THIS LETTER OF TRANSMITTAL IS
COMPLETED. THIS LETTER OF TRANSMITTAL IS FOR USE IN ACCEPTING
THE OFFER BY BARRICK GOLD CORPORATION TO PURCHASE ALL
OUTSTANDING COMMON SHARES (INCLUDING THE ASSOCIATED RIGHTS UNDER
THE SHAREHOLDER RIGHTS PLAN) OF PLACER DOME INC.</I></B>
</DIV>

<DIV align="center" style="font-size: 16pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>LETTER OF TRANSMITTAL</B>
</DIV>

<DIV align="center" style="font-size: 16pt;">
<B>AND ELECTION FORM</B>
</DIV>

<DIV align="center" style="font-size: 14pt;">
<B>For Deposit of Shares</B>
</DIV>

<DIV align="center" style="font-size: 14pt;">
<B>of</B>
</DIV>

<DIV align="center" style="font-size: 16pt;">
<B>PLACER DOME INC.</B>
</DIV>

<DIV align="center" style="font-size: 14pt;">
<B>pursuant to the Offer dated November&nbsp;10, 2005 made by</B>
</DIV>

<DIV align="center" style="font-size: 16pt;">
<B>BARRICK GOLD CORPORATION</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">

</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 12pt;">
<B>THE OFFER WILL BE OPEN FOR ACCEPTANCE UNTIL 8:00&nbsp;P.M.
(TORONTO TIME) ON DECEMBER&nbsp;20, 2005, UNLESS EXTENDED OR
WITHDRAWN.</B>
</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">

</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 12pt;">
<B>USE THIS LETTER OF TRANSMITTAL IF:</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 12pt;">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD><B>1.</B></TD>
    <TD align="left">
    <B>YOU ARE DEPOSITING A SHARE CERTIFICATE; OR</B></TD>
</TR>

<TR>
    <TD style="font-size: 4pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><B>2.</B></TD>
    <TD align="left">
    <B>YOU ARE A U.S.&nbsp;SHAREHOLDER FOLLOWING PROCEDURES FOR</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 12pt;">
<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BOOK-ENTRY
CONFIRMATION AND DO NOT HAVE AN AGENT&#146;S MESSAGE;&nbsp;OR</B>
</DIV>

<DIV style="margin-top: 4pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 12pt;">

<TR>
    <TD width="5%"></TD>
    <TD width="95%"></TD>
</TR>

<TR valign="top">
    <TD><B>3.</B></TD>
    <TD align="left">
    <B>YOU PREVIOUSLY DEPOSITED PURSUANT TO A NOTICE OF GUARANTEED
    DELIVERY.</B></TD>
</TR>

</TABLE>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Letter of Transmittal and Election Form (the &#147;Letter
of Transmittal&#148;) or a facsimile hereof, properly completed
and duly executed, together with all other required documents,
must accompany share certificates and rights certificates, if
applicable, representing common shares (including common shares
that are subject to CHESS Depositary Interests and International
Depositary Receipts) (the &#147;Placer Dome Common Shares&#148;)
of Placer Dome Inc. (&#147;Placer Dome&#148;), which includes
common shares that may become outstanding after the date of the
Offer but before the time of expiry of the Offer upon
conversion, exchange or exercise of options or convertible
debentures or other securities of Placer Dome that are
convertible into or exchangeable or exercisable for common
shares, and associated rights (the &#147;SRP Rights&#148;, a
Placer Dome Common Share with the associated SRP Right, a
&#147;Share&#148;) issued under the Shareholder Rights Plan of
Placer Dome deposited pursuant to the offer dated
November&nbsp;10, 2005 (the &#147;Offer&#148;) made by Barrick
Gold Corporation (the &#147;Offeror&#148;) to holders of Shares
(&#147;Shareholders&#148;). Shareholders may also accept the
Offer in the United States by following the procedures for
book-entry transfer set forth herein, provided that the
confirmation of a book-entry transfer of Shares into the
Depositary&#146;s account at The Depository Trust&nbsp;Company,
together with an Agent&#146;s Message in respect thereof, are
received by the Depositary at its office in Toronto, Ontario
before the Expiry Time.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The terms and conditions of the Offer are incorporated by
reference in this Letter of Transmittal. Capitalized terms used
but not defined in this Letter of Transmittal which are defined
in the Offer and Circular dated November&nbsp;10, 2005 relating
to the Offer have the meanings given to them in the Offer and
Circular. Unless otherwise indicated, all references to
&#147;$&#148; or &#147;dollars&#148; in this Letter of
Transmittal refer to U.S.&nbsp;dollars.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Depositary, the Dealer Managers, the U.S.&nbsp;Forwarding
Agent, the Information Agents (the addresses and telephone
numbers of which are on the back page of this Letter of
Transmittal) or your broker or other financial advisor can
assist you in completing this Letter of Transmittal. A
Shareholder who wishes to deposit Shares pursuant to the Offer
and whose Shares are registered in the name of an investment
dealer, stock broker, bank, trust company or other nominee
should immediately contact such nominee in order to take the
necessary steps to be able to deposit such Shares pursuant to
the Offer.
</DIV>
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shareholders who wish to deposit Shares, but whose certificates
representing such Shares are not immediately available or who
are not able to deliver the certificates and all other required
documents to the Depositary or the U.S.&nbsp;Forwarding Agent
before the Expiry Time must deposit their Shares according to
the guaranteed delivery procedure set forth in Section&nbsp;3 of
the Offer, &#147;Manner of Acceptance&nbsp;&#151; Procedure for
Guaranteed Delivery&#148;. See Instruction&nbsp;2,
&#147;Procedure for Guaranteed Delivery&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The Letter of Transmittal is to be used if certificates are
to be forwarded herewith or, for U.S. Shareholders, unless an
Agent&#146;s Message is utilized, if delivery of Shares is to be
made by book-entry transfer to an account maintained by the
Depositary at The Depository Trust&nbsp;Company.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Delivery of this Letter of Transmittal to an address other
than as set forth below will not constitute a valid delivery to
the Depositary or the U.S.&nbsp;Forwarding Agent, as applicable.
You must sign this Letter of Transmittal in the appropriate
space provided below and if you are a U.S.&nbsp;Shareholder, you
must also complete the Substitute Form&nbsp;W-9 set forth below
(See Instruction&nbsp;9, &#147;U.S.&nbsp;Shareholders and
Substitute Form&nbsp;W-9&#148;).</B>
</DIV>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Please read carefully the Instructions set forth below before
completing this Letter of Transmittal.
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD><B>TO:</B></TD>
    <TD>
    <B>BARRICK GOLD CORPORATION</B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD><B>AND TO:</B></TD>
    <TD>
    <B>CIBC MELLON TRUST COMPANY (the &#147;Depositary&#148;) or
    MELLON INVESTOR SERVICES LLC (the &#147;U.S.&nbsp;Forwarding
    Agent&#148;), at its offices set out herein</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The undersigned delivers to you the enclosed certificate(s)
representing Placer Dome Common Shares and SRP Rights, if
applicable. Subject only to the provisions of the Offer
regarding withdrawal, the undersigned irrevocably accepts the
Offer for such Shares upon the terms and conditions contained in
the Offer. The undersigned understands that by depositing Placer
Dome Common Shares to the Offer, the undersigned will be deemed
to have deposited the SRP Rights associated with such Placer
Dome Common Shares. No additional payment will be made for the
SRP Rights and no amount of the consideration to be paid by the
Offeror will be allocated to the SRP Rights. Unless waived by
the Offeror, holders of Placer Dome Common Shares are required
to deposit one SRP Right for each Placer Dome Common Share in
order to effect a valid deposit of such Placer Dome Common
Shares or, if available, a Book-Entry Confirmation must be
received by the Depositary with respect thereto. The following
are the details of the enclosed certificate(s):
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; margin-top: 9pt; ">

<TR style="font-size: 1pt;">
    <TD width="21%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>


<TR>
    <TD colspan="7" align="center" nowrap><B>BOX 1</B></TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>


<TR>
    <TD colspan="7" align="center" nowrap><B>PLACER DOME COMMON SHARES</B></TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Number of Placer Dome</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Number of Placer Dome</B></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Name(s) in which Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Common Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Common Shares</B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B>Certificate Number(s)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>(please print)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Represented by Certificate</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Deposited*</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">
    <B>Total:</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; ">

<TR style="font-size: 1pt;">
    <TD width="21%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
</TR>


<TR>
    <TD colspan="7" align="center" nowrap><B>SRP RIGHTS** (To be completed if necessary)</B></TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Name(s) in which Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Number of SRP Rights</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Number of SRP Rights</B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B>Certificate Number(s)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>(please print)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Represented by Certificate</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Deposited*</B></TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">
    <B>Total:</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="7" align="left" valign="top">
    *&nbsp;Unless otherwise indicated, the total number of Placer
    Dome Common Shares and SRP Rights evidenced by all certificates
    delivered will be deemed to have been deposited.</TD>
</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="7" align="left" valign="top">
    **&nbsp;The following procedures must be followed in order to
    effect the valid delivery of certificates representing SRP
    Rights (&#147;Rights Certificates&#148;): (i)&nbsp;if the
    Separation Time under the Shareholder Rights Plan has not
    occurred prior to the Expiry Time and Rights Certificates have
    not been distributed by Placer Dome, a deposit of Placer Dome
    Common Shares by the undersigned will also constitute a deposit
    of the associated SRP Rights; (ii)&nbsp;if Rights Certificates
    have been distributed by Placer Dome and received by the
    undersigned prior to the time the undersigned deposits Placer
    Dome Common Shares pursuant to the Offer, Rights Certificate(s)
    representing SRP Rights equal in number to the number of Placer
    Dome Common Shares deposited must be delivered with the
    certificate(s) representing the Placer Dome Common Shares; or
    (iii)&nbsp;if the Separation Time occurs and Rights Certificates
    are not distributed by the time the undersigned deposits its
    Placer Dome Common Shares pursuant to the Offer, the undersigned
    may deposit its SRP Rights before receiving Rights
    Certificate(s) by using the guaranteed delivery procedure
    described below. See Instruction&nbsp;2, &#147;Procedure for
    Guaranteed Delivery&#148;. Note that in any case, a deposit of
    Placer Dome Common Shares constitutes an agreement by the
    undersigned to deliver Rights Certificate(s) equal in number to
    the number of deposited Placer Dome Common Shares to the
    Depositary or the U.S.&nbsp;Forwarding Agent, as applicable, on
    or before the third trading day on the TSX after the date, if
    any, that any Rights Certificates are distributed. The Offeror
    reserves the right to require, if the Separation Time occurs
    before the Expiry Time, that the Depositary or the
    U.S.&nbsp;Forwarding Agent, as applicable, receive from the
    undersigned, prior to taking up the Placer Dome Common Shares
    for payment pursuant to the Offer, Rights Certificate(s)
    representing SRP Rights equal in number to the Placer Dome
    Common Shares deposited by the undersigned.</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>(Please print or type. If space is insufficient, please
attach a list to this Letter of Transmittal in the above
form.)</B>
</DIV>

<P align="center" style="font-size: 10pt;">2
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>BOX 2</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>ELECTION FOR CASH OR SHARES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Under the Offer, the undersigned hereby elects to receive one of
the following forms of consideration for all of the deposited
Shares represented by the certificate(s) listed in Box&nbsp;1
above. Shareholders may elect to receive either the Cash
Alternative (Choice A)&nbsp;OR the Share Alternative (Choice B).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Shareholders may choose only ONE of the choices below:</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><FONT face="wingdings">&#111;</FONT><FONT style="font-size: 10pt">&nbsp;Choice
A&nbsp;&#151; The CASH ALTERNATIVE</FONT></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Shareholders who check this box will receive U.S.$20.50 in cash
for each Share deposited under this Choice A (subject to pro
ration).
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><FONT face="wingdings">&#111;</FONT><FONT style="font-size: 10pt">&nbsp;Choice
B&nbsp;&#151; The SHARE ALTERNATIVE</FONT></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Shareholders who check this box will receive 0.7518 of a common
share of the Offeror (a &#147;Barrick Common Share&#148;) and
U.S.$0.05 in cash for each Share deposited under this Choice B
(subject to pro ration).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Any Shareholder who fails to complete the Letter of
Transmittal and Notice of Guaranteed Delivery, if applicable,
electing the Cash Alternative or who does not properly elect
either the Cash Alternative or the Share Alternative in the
Letter of Transmittal and Notice of Guaranteed Delivery, if
applicable, with respect to any Shares deposited by such
Shareholder pursuant to the Offer will be deemed to have elected
the Share Alternative. Assuming that either all Shareholders
tender to the Cash Alternative or all Shareholders tender to the
Share Alternative, each Shareholder will be entitled to receive
U.S.$2.65 in cash and 0.6562 of a Barrick Common Share for each
Share tendered, subject to adjustment for fractional shares. It
is unlikely that Shareholders who elect to receive the Cash
Alternative will receive only cash consideration for their
Shares. For greater certainty, unless a Shareholder receives
only cash consideration for its Shares, in all circumstances, a
Shareholder will receive at least U.S.$0.05 in cash and no more
than 0.7518 Barrick Common Shares in respect of each Share
deposited pursuant to the Offer.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
No fractional Barrick Common Shares will be issued pursuant to
the Offer. Where a Shareholder is to receive Barrick Common
Shares as consideration under the Offer and the aggregate number
of Barrick Common Shares to be issued to such Shareholder would
result in a fraction of a Barrick Common Share being issuable,
the number of Barrick Common Shares to be received by such
Shareholder will either be rounded up (if the fractional
interest is 0.5 or more) or down (if the fractional interest is
less than 0.5) and the amount of cash to be received by such
Shareholder will correspondingly be either decreased or
increased (on the basis of U.S.$27.20 per Barrick Common Share),
provided, however, that the number of Barrick Common Shares to
be received by a Shareholder shall be rounded down in all
circumstances where rounding would result in such Shareholder
receiving less than U.S.$0.05 per Share tendered by such
Shareholder on a per Share basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
A Shareholder who is an &#147;Eligible Holder&#148; (as defined
in the Offer and Circular) and who wishes to elect the
&#147;Rollover Option&#148; (as defined in the Offer and
Circular) to make the joint tax election with the Offeror in
order to obtain a full or partial tax-deferred rollover for
Canadian federal income tax purposes in respect of the
disposition of Shares pursuant to the Offer, must elect the
Share Alternative. See Section&nbsp;22 of the Circular,
&#147;Canadian Federal Income Tax Considerations&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>If a Shareholder delivers a Notice of Guaranteed Delivery in
respect of Shares deposited with this Letter of Transmittal, the
election (or deemed election) made in that Notice of Guaranteed
Delivery as to the consideration to be received shall supersede
any election made in this Letter of Transmittal. See
Instruction&nbsp;2, &#147;Procedure for Guaranteed
Delivery&#148;.</B>
</DIV>
</DIV>

<P align="center" style="font-size: 10pt;">3

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<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>BOX 3</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>ROLLOVER OPTION FOR ELIGIBLE HOLDERS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
As described in Section&nbsp;22 of the Circular, &#147;Canadian
Federal Income Tax Considerations&#148;, an Eligible Holder who
elects the Share Alternative, and who further elects the
Rollover Option, may make a joint election with the Offeror
pursuant to subsection&nbsp;85(1) or (2)&nbsp;of the <I>Income
Tax Act</I> (Canada) (the &#147;Tax Act&#148;) in order to
obtain a full or partial tax-deferred rollover for Canadian
income tax purposes in respect of the sale of the Eligible
Holder&#146;s Shares to the Offeror under the Share Alternative.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
&#147;<B>Eligible Holder</B>&#148; means a Shareholder who is
(a)&nbsp;a resident of Canada for the purposes of the Tax Act
and who is not exempt from tax on income under the Tax Act, or
(b)&nbsp;a non-resident of Canada for the purposes of the Tax
Act, whose Shares constitute &#147;taxable Canadian
property&#148; (as defined by the Tax Act) and who is not exempt
from Canadian tax in respect of any gain realized on the
disposition of Shares by reason of an exemption contained in an
applicable income tax treaty or convention, or (c)&nbsp;a
partnership if one or more members of the partnership are
described in (a) or (b).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Section&nbsp;22 of the Circular, &#147;Canadian Federal Income
Tax Considerations&#148;, describes the actions that an Eligible
Holder must take in order to make a valid tax election with the
Offeror under subsection&nbsp;85(1) or (2)&nbsp;of the Tax Act.
The Eligible Holder must obtain the appropriate federal election
forms (Form&nbsp;T2057 or, in the event that the Shares are held
by a partnership, Form&nbsp;T2058) from the Canada Revenue
Agency (&#147;CRA&#148;). These are available on the CRA&#146;s
website at <U>www.cra-arc.gc.ca/E/pbg/tf/t2057/t2057-05e.pdf</U>
and <U>www.cra-arc.gc.ca/E/pbg/tf/t2058/t2058-01e.pdf</U>,
respectively. The Eligible Holder must fully complete and sign
two copies of the relevant election form and ensure that both
copies are received by the Depositary at its office in Toronto,
Ontario (CIBC Mellon Trust&nbsp;Company, Attn: Barrick Tax
Election, 199&nbsp;Bay Street, Commerce Court West, Securities
Level, Toronto, Ontario, M5L&nbsp;1G9) on or before the sixtieth
day after the Expiry Time (as defined in the Offer and
Circular). The Offeror agrees only to add the required
information regarding the Offeror to any properly completed
election form received by the Depositary on or before the
sixtieth day after the Expiry Time, to execute any such election
form and to forward one copy of such election form by mail to
the Eligible Holder at the address indicated on the election
form within 60&nbsp;days after the receipt thereof. The Eligible
Holder must file the completed and signed joint tax election
form with the CRA within the time prescribed by the Tax Act. As
described in Section&nbsp;22 of the Circular, &#147;Canadian
Federal Income Tax Considerations&#148;, an Eligible Holder may
also make a joint tax election with the Offeror under any
applicable provincial tax legislation that is similar to
section&nbsp;85 of the Tax Act. <B>Eligible Holders should
consult their own tax advisors for assistance with respect to
making a valid tax election.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Compliance with the requirements to ensure a valid election
is filed under subsection&nbsp;85(1) or (2)&nbsp;of the Tax Act
(or the corresponding provisions of any applicable provincial
tax legislation) will be the sole responsibility of the Eligible
Holder making such election. Accordingly, the Offeror will not
be responsible or liable for taxes, interest, penalties, damages
or expenses resulting from the failure by anyone to properly
complete any election form or to properly file it within the
time prescribed and in the form prescribed under the Tax Act (or
the corresponding provisions of any applicable provincial tax
legislation). The Offeror reserves the right not to execute and
return to a Shareholder for filing any tax election form sent to
it that (i)&nbsp;is not fully completed and signed by an
Eligible Holder who has elected the Share Alternative and who
has further elected the Rollover Option in this Letter of
Transmittal, or (ii)&nbsp;is not received by the Depositary on
or before the sixtieth day after the Expiry Time.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
By checking the box below to elect the Rollover Option, the
Shareholder (i)&nbsp;represents that the Shareholder is an
Eligible Holder who has elected the Share Alternative,
(ii)&nbsp;acknowledges that it is the Shareholder&#146;s
responsibility to complete the appropriate tax election form and
send two copies of the completed election form to the Depositary
so that they are received on or before the sixtieth day after
the Expiry Time, and (iii)&nbsp;acknowledges that it is the
Shareholder&#146;s responsibility to file the tax election form
with the CRA (or the applicable provincial tax authority) once
it is returned to the Shareholder by the Offeror and pay any
applicable late filing penalties.
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><FONT face="wingdings">&#111;</FONT>&nbsp;</TD>
    <TD align="left">
    <B>Check here if you are an Eligible Holder, you have elected
    the Share Alternative and you wish to further elect the Rollover
    Option in order to make a joint tax election with the Offeror
    under subsection&nbsp;85(1) or (2)&nbsp;of the Tax Act (or the
    corresponding provisions of any applicable provincial tax
    legislation). It is the Eligible Holder&#146;s responsibility to
    take the steps required to make a valid tax election.</B></TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt;">4

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The person signing this Letter of Transmittal (the
&#147;signatory&#148;) hereby acknowledges receipt of the Offer
and Circular and acknowledges that there will be a binding
agreement between the signatory and the Offeror effective
immediately following the time at which the Offeror takes up the
Shares covered by this Letter of Transmittal and delivers them
to the Depositary or the U.S.&nbsp;Forwarding Agent (the
&#147;Deposited Shares&#148;) in accordance with the terms and
subject to the conditions of the Offer. The signatory represents
and warrants that: (i)&nbsp;the signatory has full power and
authority to deposit, sell, assign and transfer the Deposited
Shares and any rights and benefits arising from such Deposited
Shares including, without limitation, any and all dividends,
distributions, payments, securities, property or other interests
which may be declared, paid, accrued, issued, distributed, made
or transferred on or in respect of the Deposited Shares or any
of them on and after the date of the Offer, including any
dividends, distributions or payments on such dividends,
distributions, payments, securities, property or other interests
(collectively, the &#147;Distributions&#148;) being deposited to
the Offer; (ii)&nbsp;the Deposited Shares and Distributions have
not been sold, assigned or transferred, nor has any agreement
been entered into to sell, assign or transfer any of the
Deposited Shares and Distributions, to any other person;
(iii)&nbsp;the deposit of the Deposited Shares and Distributions
complies with applicable Laws; and (iv)&nbsp;when the Deposited
Shares and Distributions are taken up and paid for by the
Offeror, the Offeror will acquire good title thereto, free and
clear of all liens, restrictions, charges, encumbrances, claims
and rights of others.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>IN CONSIDERATION OF THE OFFER AND FOR VALUE RECEIVED,</B>
upon the terms and subject to the conditions set forth in the
Offer and in this Letter of Transmittal, subject only to the
withdrawal rights set out in the Offer, the signatory
irrevocably accepts the Offer for and in respect of the
Deposited Shares and (unless deposit is to be made pursuant to
the procedure for deposit by book-entry transfer set forth in
Section&nbsp;3 of the Offer, &#147;Manner of
Acceptance&nbsp;&#151; Acceptance by Book-Entry Transfer in the
United States&#148;) delivers to the Offeror the enclosed Share
certificate(s) and Rights Certificate(s), if applicable,
representing the Deposited Shares and, on and subject to the
terms and conditions of the Offer, deposits, sells, assigns and
transfers to the Offeror all right, title and interest in and to
the Deposited Shares, and in and to all rights and benefits
arising from the Deposited Shares including the SRP Rights,
whether or not separated from the Placer Dome Common Shares, and
any and all Distributions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If, on or after the date of the Offer, Placer Dome should
divide, combine, reclassify, consolidate, convert or otherwise
change any of the Shares or its capitalization, or disclose that
it has taken or intends to take any such action, the Offeror, in
its sole discretion and without prejudice to its rights under
Section&nbsp;4 of the Offer, &#147;Conditions of the
Offer&#148;, may make such adjustments as it considers
appropriate to the purchase price and the other terms of the
Offer (including, without limitation, the type of securities
offered to be purchased and the consideration payable therefor)
to reflect that division, combination, reclassification,
consolidation, conversion or other change.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Shares acquired pursuant to the Offer shall be transferred by
the Shareholder and acquired by the Offeror free and clear of
all liens, charges, encumbrances, claims, equities and rights of
others and together with all rights and benefits arising
therefrom, including, without limitation, the right to all
dividends, distributions, payments, securities, property, rights
(including SRP Rights), assets or other interests which may be
accrued, declared, paid, issued, distributed, made or
transferred on or after the date of the Offer on or in respect
of the Shares, whether or not separated from the Shares, but
subject to any Shares being validly withdrawn by or on behalf of
a depositing Shareholder. If, on or after the date of the Offer,
Placer Dome should declare, set aside, or pay any dividend or
declare, make or pay any other distribution or payment on, or
declare, allot, reserve or issue, any securities, rights or
other interests with respect to any Share which is or are
payable or distributable to Shareholders on a record date that
is prior to the date of transfer into the name of the Offeror or
its nominee or transferee on the register of Shareholders
maintained by Placer Dome or its transfer agent of such Share
following acceptance thereof for purchase pursuant to the Offer,
then (and without prejudice to its rights under Section&nbsp;4
of the Offer, &#147;Conditions of the Offer&#148;): (i)&nbsp;in
the case of any such cash dividend, distribution or payment that
does not exceed the cash consideration greater than U.S.$0.05
per Share, the cash consideration per Share payable by the
Offeror pursuant to the Offer will be reduced by the amount of
any such dividend, distribution or payment, and (ii)&nbsp;in the
case of any such cash dividend, distribution or payment that
exceeds the cash consideration greater than U.S.$0.05 per Share,
or in the case of any other dividend, distribution, payment,
right or other interest, the whole of any such dividend,
distribution, payment, right or other interest, will be received
and held by the depositing Shareholder for the account of the
Offeror and will be promptly remitted and transferred by the
depositing Shareholder to the Depositary for the account of the
Offeror, accompanied by appropriate documentation of transfer.
Pending such remittance, the Offeror will be entitled to all
rights and privileges as the owner of any such dividend,
distribution, payment, right or other interest and may withhold
the entire amount of cash and share consideration payable by the
Offeror pursuant to the Offer or deduct from the cash and share
consideration payable by the Offeror pursuant to the Offer the
amount or value thereof, as determined by the Offeror in its
sole discretion. For greater
</DIV>

<P align="center" style="font-size: 10pt;">5

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<DIV align="left" style="font-size: 10pt;">
certainty, except as permitted in the prior sentence, under no
circumstance will a Shareholder receive less than U.S.$0.05 per
Share of cash consideration.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Separation Time does not occur before the Expiry Time, a
deposit of Placer Dome Common Shares will also constitute a
deposit of the associated SRP Rights. If the Separation Time
occurs before the Expiry Time and Rights Certificates are
distributed by Placer Dome to Shareholders prior to the time
that the signatory&#146;s Placer Dome Common Shares are
deposited pursuant to the Offer, in order for the Placer Dome
Common Shares to be validly deposited, Rights Certificate(s)
representing SRP Rights equal in number to the number of Placer
Dome Common Shares deposited must be delivered to the Depositary
or the U.S.&nbsp;Forwarding Agent, as applicable. If the
Separation Time occurs before the Expiry Time and Rights
Certificates are not distributed by the time that the signatory
deposits its Placer Dome Common Shares pursuant to the Offer,
the undersigned may deposit its SRP Rights before receiving
Rights Certificate(s) by using the guaranteed delivery procedure
set forth in the Offer and the Notice of Guaranteed Delivery.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In any case, a deposit of Placer Dome Common Shares constitutes
an agreement by the signatory to deliver Rights Certificate(s)
representing SRP Rights equal in number to the number of Placer
Dome Common Shares deposited pursuant to the Offer to the
Depositary or the U.S.&nbsp;Forwarding Agent, as applicable, on
or before the third trading day on the TSX after the date, if
any, that Rights Certificate(s) are distributed. The Offeror
reserves the right to require, if the Separation Time occurs
before the Expiry Time, that the Depositary or the
U.S.&nbsp;Forwarding Agent receive, prior to taking up the
Placer Dome Common Shares for payment pursuant to the Offer,
Rights Certificate(s) from the signatory representing SRP Rights
equal in number to the Placer Dome Common Shares deposited by
the undersigned.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The execution of this Letter of Transmittal (or, in the case of
Shares deposited by book-entry transfer in the United States, an
Agent&#146;s Message), irrevocably constitutes and appoints,
effective on and after the date (the &#147;Effective Date&#148;)
that the Offeror takes up for the Deposited Shares covered by
this Letter of Transmittal (which Shares upon being taken up
are, together with any Distributions thereon, referred to as the
&#147;Purchased Securities&#148;), any one of the President and
Chief Executive Officer, the Executive Vice President and Chief
Financial Officer or the Vice President, Assistant General
Counsel and Corporate Secretary of the Offeror and any other
person designated by the Offeror in writing (each an
&#147;Appointee&#148;) as the true and lawful agents, attorneys
and attorneys-in-fact and proxies of the depositing Shareholder
with respect to the Purchased Securities, with full power of
substitution (such power of attorney being deemed to be an
irrevocable power coupled with an interest):
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>1.</TD>
    <TD align="left">
    to register or record the transfer and/or cancellation of such
    Purchased Securities (to the extent consisting of securities) on
    the appropriate register maintained by Placer Dome or its
    transfer agent;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>2.</TD>
    <TD align="left">
    for so long as any Purchased Securities are registered or
    recorded in the name of such Shareholder, to exercise any and
    all rights of such Shareholder including, without limitation,
    the right to vote, to execute and deliver any and all
    instruments of proxy, authorizations or consents in form and on
    terms satisfactory to the Offeror in respect of any or all
    Purchased Securities, to revoke any such instrument,
    authorization or consent given prior to or after the Effective
    Date, to designate in such instrument, authorization or consent
    any person or persons as the proxy of such Shareholder in
    respect of the Purchased Securities, for all purposes including,
    without limitation, in connection with any meeting or meetings
    (whether annual, special or otherwise, or any adjournment
    thereof, including, without limitation, any meeting to consider
    a Subsequent Acquisition Transaction) of holders of relevant
    securities of Placer Dome;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>3.</TD>
    <TD align="left">
    to execute, endorse and negotiate, for and in the name of and on
    behalf of such Shareholder, any and all cheques or other
    instruments representing any Distributions payable to or to the
    order of, or endorsed in favour of, such Shareholder; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>4.</TD>
    <TD align="left">
    to exercise any other rights of a holder of Purchased Securities.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder accepting the Offer agrees not to vote any of the
Purchased Securities at any meeting (whether annual, special or
otherwise, or any adjournments thereof, including, without
limitation, any meeting to consider a Subsequent Acquisition
Transaction) of holders of securities of Placer Dome and not to
exercise any of the other rights or privileges attached to the
Purchased Securities, and agrees to execute and deliver to the
Offeror any and all instruments of proxy, authorizations or
consents in respect of the Purchased Securities, and to appoint
in any such instruments of proxy, authorizations or consents,
the person or persons specified by the Offeror as the proxy of
the holder of the Purchased Securities. <B>Upon such
appointment, all prior proxies and other authorizations
(including, without limitation, all appointments of any agent,
attorney or attorney in fact) or consents given by the holder of
such Purchased Securities</B>
</DIV>

<P align="center" style="font-size: 10pt;">6

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<B>with respect thereto will be revoked and no subsequent
proxies or other authorizations or consents may be given by such
person with respect thereto.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
A Shareholder accepting the Offer covenants under the terms of
this Letter of Transmittal to execute, upon request of the
Offeror, any additional documents, transfers and other
assurances as may be necessary or desirable to complete the
sale, assignment and transfer of the Purchased Securities to the
Offeror and acknowledges that all authority herein conferred or
agreed to be conferred is, to the extent permitted by Law,
irrevocable and may be exercised during any subsequent legal
incapacity of such holder and shall, to the extent permitted by
Law, survive the death or incapacity, bankruptcy or insolvency
of the holder and all obligations of the holder therein shall be
binding upon the heirs, executors, administrators, attorneys,
personal representatives, successors and assigns of such holder.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Depositary will act as the agent of persons who have
deposited Shares in acceptance of the Offer for the purposes of
receiving payment from the Offeror and transmitting payment to
such persons, and receipt of payment by the Depositary will be
deemed to constitute receipt of payment by persons depositing
Shares. Settlement with each Shareholder who has deposited
Shares pursuant to the Offer will be made by the Depositary
forwarding a cheque representing the cash and/or a share
certificate representing the Barrick Common Shares to which the
depositing Shareholder is entitled.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Cheques will be payable in U.S.&nbsp;funds. Unless otherwise
directed in this Letter of Transmittal, cheques and/or share
certificates will be issued in the name of the registered holder
of the Deposited Shares covered by this Letter of Transmittal.
Unless the depositing Shareholder instructs the Depositary to
hold the cheque and/or share certificates for pick-up by
checking the appropriate box in this Letter of Transmittal, such
cheque and/or share certificate will be forwarded by first class
insured mail to such person at the address specified in this
Letter of Transmittal. If no such address is specified, the
cheque and/or share certificate will be sent to the address of
the depositing Shareholder as shown on the register of
Shareholders maintained by Placer Dome or its transfer agent.
Cheques and/or share certificates mailed in accordance with this
paragraph will be deemed to be delivered at the time of mailing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If any Deposited Shares are not taken up and paid for pursuant
to the terms and conditions of the Offer for any reason, or if
certificates are submitted for more Shares than are deposited,
certificates for unpurchased Shares will be returned to the
depositing Shareholder as soon as is practicable following the
termination or withdrawal of the Offer by either
(i)&nbsp;sending new certificates representing Shares not
purchased or by returning the deposited certificates (and other
relevant documents) or (ii)&nbsp;in the case of Shares deposited
by book-entry transfer of such Shares into the Depositary&#146;s
account at The Depository Trust&nbsp;Company pursuant to the
procedures set forth in &#147;Manner of Acceptance&nbsp;&#151;
Acceptance of Book-Entry Transfer in the United States&#148; in
Section&nbsp;3 of the Offer, such Shares will be credited to the
depositing holder&#146;s account maintained with The Depository
Trust&nbsp;Company. Certificates (and other relevant documents)
will be forwarded by first-class mail in the name of and to the
address specified by the Shareholder in this Letter of
Transmittal or, if such name or address is not so specified, in
such name and to such address as shown on the share register
maintained by Placer Dome or its transfer agent, as soon as
practicable after the termination of the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Shareholders will not be required to pay any fee or
commission if they accept the Offer by depositing their Shares
directly with the Depositary or the U.S.&nbsp;Forwarding Agent
or if they make use of the services of a member of the
Soliciting Dealer Group to accept the Offer.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By reason of the use by the signatory of an English language
form of Letter of Transmittal, the signatory shall be deemed to
have required that any contract evidenced by the Offer as
accepted through this Letter of Transmittal, as well as all
documents related thereto, be drawn exclusively in the English
language. En raison de l&#146;usage d&#146;une lettre
d&#146;envoi en langue anglaise par le signataire, le
soussign&#233; et les destinataires sont pr&#233;sum&#233;s
avoir requis que tout contrat attest&#233; par l&#146;offre
accept&#233;e par cette lettre d&#146;envoi, de m&#234;me que
tous les documents qui s&#146;y rapportent, soient
r&#233;dig&#233;s exclusivement en langue anglaise.
</DIV>

<P align="center" style="font-size: 10pt;">7

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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SHAREHOLDER INFORMATION AND INSTRUCTIONS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><I>Before signing this Letter of Transmittal, please review
carefully and complete the following boxes, as
appropriate.</I></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 33pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">

</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 10pt;">
<B>BOX A</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>REGISTRATION AND PAYMENT</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>INSTRUCTIONS</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
ISSUE A CHEQUE/BARRICK COMMON
</DIV>

<DIV align="center" style="font-size: 10pt;">
SHARES IN THE NAME OF:
</DIV>

<DIV align="center" style="font-size: 8pt;">
<I>(please print or type)</I>
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt;">
(Name)
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
(Street Address and Number)
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt;">
(City and Province or State)
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt;">
(Country and Postal (or Zip) Code)
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt;">
(Telephone&nbsp;&#151; Business Hours)
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt;">
(Tax Identification, Social Insurance or Social Security Number)
</DIV>
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>BOX B</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>DELIVERY INSTRUCTIONS</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
SEND CHEQUE/BARRICK COMMON
</DIV>

<DIV align="center" style="font-size: 10pt;">
SHARES (Unless Box&nbsp;&#147;C&#148; is checked) TO:
</DIV>

<DIV align="center" style="font-size: 8pt;">
<I>(please print or type)</I>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<FONT face="wingdings">&#111;</FONT> Same as address in
Box&nbsp;A or to:
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt;">
(Name)
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
(Street Address and Number)
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt;">
(City and Province or State)
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt;">
(Country and Postal (or Zip) Code)
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt;">
(Telephone&nbsp;&#151; Business Hours)
</DIV>

<DIV align="center" style="font-size: 3pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<DIV style="width: 100%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>
</DIV>

<DIV align="center" style="font-size: 8pt;">
(Tax Identification, Social Insurance or Social Security Number)
</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 36pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">

</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 10pt;">
<B>BOX C</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>SPECIAL PICK-UP INSTRUCTIONS</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><FONT face="wingdings">&#111;</FONT>&nbsp;</TD>
    <TD align="left">
    HOLD CHEQUE/ BARRICK COMMON SHARES FOR PICK-UP AT THE OFFICES OF
    THE DEPOSITARY. (Check box)</TD>
</TR>

</TABLE>
</DIV>

<P align="center" style="font-size: 10pt;">8
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<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 10pt;">
<B>BOX D</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>U.S.&nbsp;SHAREHOLDERS</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
(See Instruction&nbsp;9)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
A U.S.&nbsp;Shareholder is any Shareholder that is either
(A)&nbsp;providing an address in Box&nbsp;&#147;B&#148; which is
located within the United States or any territory or possession
thereof, or (B)&nbsp;a U.S.&nbsp;person for United States
federal income tax purposes.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
INDICATE WHETHER OR NOT YOU ARE A U.S.&nbsp;SHAREHOLDER OR ARE
ACTING ON BEHALF OF A U.S.&nbsp;SHAREHOLDER:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><FONT face="wingdings">&#111;</FONT>&nbsp;</TD>
    <TD align="left">
    The owner signing this Letter of Transmittal represents that it
    is not a U.S.&nbsp;Shareholder and is not acting on behalf of a
    U.S.&nbsp;Shareholder.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD><FONT face="wingdings">&#111;</FONT>&nbsp;</TD>
    <TD align="left">
    The owner signing this Letter of Transmittal is a
    U.S.&nbsp;Shareholder or is acting on behalf of a
    U.S.&nbsp;Shareholder.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>IF YOU ARE A U.S.&nbsp;SHAREHOLDER OR ARE ACTING ON BEHALF OF
A U.S.&nbsp;SHAREHOLDER, THEN IN ORDER TO AVOID BACKUP
WITHHOLDING YOU MUST COMPLETE THE SUBSTITUTE FORM&nbsp;W-9
INCLUDED BELOW, OR OTHERWISE PROVIDE CERTIFICATION THAT YOU ARE
EXEMPT FROM BACKUP WITHHOLDING, AS PROVIDED IN THE
INSTRUCTIONS.</B>
</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<BR>
</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 10pt;">
<B>BOX E</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>DEPOSIT PURSUANT TO NOTICE OF GUARANTEED DELIVERY</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
(See Instruction&nbsp;2)
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD><FONT face="wingdings">&#111;</FONT>&nbsp;</TD>
    <TD align="left">
    CHECK HERE IF SHARES ARE BEING DEPOSITED PURSUANT TO A NOTICE OF
    GUARANTEED DELIVERY PREVIOUSLY SENT TO THE DEPOSITARY AND
    COMPLETE THE FOLLOWING: (please print or type)</TD>
</TR>

</TABLE>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; ">

<TR style="font-size: 1pt;">
    <TD width="40%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="57%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Name of Registered Holder</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Date of Execution of Notice of Guaranteed Delivery</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Window Ticket Number (if any)</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV></TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    Name of Institution which Guaranteed Delivery</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV></TD>
</TR>

</TABLE>
</CENTER>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<BR>
</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 10pt;">
<B>BOX F</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>DEALER OR BROKER SOLICITING ACCEPTANCE OF THE OFFER</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
(See Instruction&nbsp;8)
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The owner signing this Letter of Transmittal represents that the
dealer or broker who solicited and obtained this deposit is:
(please print or type)
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; ">

<TR style="font-size: 1pt;">
    <TD width="32%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>(Firm)</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    <B>(Address)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    <B>(Telephone Number)(Fax)</B></TD>
</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="43%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="54%">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>(Registered Representative)</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="bottom">
    <B>(Registered Representative Identification Number)</B></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<FONT face="wingdings">&#111;</FONT>&nbsp;CHECK HERE IF LIST OF
BENEFICIAL HOLDERS IS ATTACHED
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<FONT face="wingdings">&#111;</FONT>&nbsp;CHECK HERE IF DISKETTE
TO FOLLOW
</DIV>
</DIV>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<P align="center" style="font-size: 10pt;">9
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SHAREHOLDER SIGNATURE</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>By signing below, the Shareholder expressly agrees to the
terms and conditions set forth above.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">

</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; ">

<TR style="font-size: 1pt;">
    <TD width="48%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="49%">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    Signature guaranteed by (if required under Instruction&nbsp;4):</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    Date:&nbsp;--------------------, 2005</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Authorized
    Signature of Guarantor</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Signature
    of Shareholder or Authorized Representative&nbsp;&#151;<BR>
    See Instruction&nbsp;3, 4 and 5</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Name
    of Guarantor (please print or type)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Name
    of Shareholder or Authorized<BR>
    Representative (please print or type)</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Address
    of Guarantor (please print or type)</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Daytime
    telephone number and facsimile of Shareholder<BR>
    or daytime telephone number and<BR>
    facsimile of Authorized Representative</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Tax
    Identification, Social Insurance or<BR>
    Social Security Number of Shareholder</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="3" align="left" style="border-top: 3pt double #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="left" valign="top">
    <I>Additional signatures for joint Shareholders (if required)</I></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <BR>
    Date:&nbsp;&nbsp;------------------------------, 2005</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Signature
    of Shareholder or Authorized Representative&nbsp;&#151;<BR>
    See Instruction&nbsp;3, 4 and 5</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Name
    of Shareholder or Authorized<BR>
    Representative (please print or type)</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Daytime
    telephone number and facsimile of Shareholder<BR>
    or daytime telephone number and<BR>
    facsimile of Authorized Representative</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Tax
    Identification, Social Insurance or<BR>
    Social Security Number of Shareholder</TD>
</TR>

</TABLE>
</CENTER>
</DIV>

<P align="center" style="font-size: 10pt;">10
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>SUBSTITUTE FORM W-9</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>TO BE COMPLETED BY U.S.&nbsp;SHAREHOLDERS ONLY</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="25%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="38%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="31%">&nbsp;</TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="5" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <B>SUBSTITUTE<BR>
    FORM&nbsp;W-9<BR>
    <BR>
    Department of the Treasury Internal Revenue Service</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <B>Part&nbsp;1&nbsp;&#151; </B>Please provide your name in the
    box at right.<BR>
    <BR>
     Taxpayer Identification Number (&#147;TIN&#148;)&nbsp;&#151;
    ENTER YOUR TIN IN THE BOX AT RIGHT. (For most individuals, this
    is your social security number. If you do not have a TIN, see
    &#147;Obtaining a Number&#148; in the Guidelines included in
    this form.) CERTIFY BY SIGNING AND DATING BELOW.<BR>
    <BR>
     <B>Note: </B>If the account is in more than one name, see the
    chart in the enclosed Guidelines to determine which number to
    give the payer.</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <BR>
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Social
    Security Number(s) (If awaiting TIN, write &#147;Applied
    For&#148;)<BR>
    <BR>
     <B>OR<BR>
    <BR>
    <DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV></B>Employer
    Identification Number(s) (If awaiting TIN, write &#147;Applied
    For&#148;)</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD colspan="3" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="center" valign="top">
    <B>Payer&#146;s Request for Taxpayer Identification Number and
    Certification</B></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    <B>Part&nbsp;2</B>&nbsp;&#151;&nbsp;For payees exempt from
    backup withholding, please write &#147;exempt&#148; here (see
    Instructions):</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    Name&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Business
    Name&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>Please
    Check Appropriate box<BR>
    <BR>
    <FONT face="wingdings">&#111;</FONT> Individual/Sole
    Proprietor &nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>
    Corporation &nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>
    Partnership &nbsp;&nbsp;<FONT face="wingdings">&#111;</FONT>
    Other<BR>
    <BR>
    Address&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<DIV style="border-top: 1pt solid #000000; font-size: 1pt; margin-top: 2pt;">&nbsp;</DIV>City
    State Zip Code</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    <B>Part&nbsp;3</B>&nbsp;&#151;&nbsp;<B>Certification</B>&nbsp;&#151;&nbsp;Under
    penalties of perjury,&nbsp;I certify that:</TD>
</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    (1)&nbsp;The number shown on this form is my correct TIN (or I
    am waiting for a TIN to be issued to me) and</TD>
</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    (2)&nbsp;I am not subject to backup withholding because
    (a)&nbsp;I am exempt from backup withholding, (b)&nbsp;I have
    not been notified by the Internal Revenue Service
    (&#147;IRS&#148;) that I am subject to backup withholding as a
    result of a failure to&nbsp;report all interest or dividends, or
    (c)&nbsp;the IRS has notified me that I am no longer subject to
    backup withholding;&nbsp;and</TD>
</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    (3)&nbsp;I am a U.S.&nbsp;person (including a U.S.&nbsp;resident
    alien).</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    <B>Certificate Instructions. </B>You must cross out
    Item&nbsp;(2) above if you have been notified by the IRS that
    you are currently subject to backup withholding because you have
    failed to report all interest and dividends on your tax return.</TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="5" align="left" valign="top">
    Signature of U.S.&nbsp;person
    ---------------------------------------------------------------------------------------------------------------&nbsp;Date
    ---------------------------------------------------------------------------------------------------------------------,
    2005</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="7%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD><B>NOTE:&nbsp;</B></TD>
    <TD align="left">
    <B>FAILURE TO FURNISH YOUR CORRECT TIN MAY RESULT IN A $50
    PENALTY IMPOSED BY THE INTERNAL REVENUE SERVICE AND IN BACKUP
    WITHHOLDING OF 28% OF THE GROSS AMOUNT OF CONSIDERATION PAID TO
    YOU PURSUANT TO THE OFFER. FOR ADDITIONAL DETAILS, PLEASE REVIEW
    THE ENCLOSED &#147;GUIDELINES FOR CERTIFICATION OF TAXPAYER
    IDENTIFICATION NUMBER ON SUBSTITUTE FORM W-9&#148; THAT FOLLOW
    THE INSTRUCTIONS ACCOMPANYING THIS LETTER OF TRANSMITTAL.</B></TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>YOU MUST COMPLETE THE FOLLOWING CERTIFICATE IF YOU WROTE
&#147;APPLIED FOR&#148; IN PART&nbsp;1 OF SUBSTITUTE FORM
W-9.</B>
</DIV>

<DIV align="left" style="font-size: 10pt;">

</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>CERTIFICATION OF AWAITING TAXPAYER IDENTIFICATION NUMBER</B>
</DIV>

<DIV align="left" style="font-size: 9pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;
I certify under penalties of perjury that a taxpayer
identification number has not been issued to me, and either
(a)&nbsp;I have mailed or delivered an application to receive a
taxpayer identification number to the appropriate IRS Center or
Social Security Administration Office or (b)&nbsp;I intend to
mail or deliver an application in the near future. I understand
that if I do not provide a TIN by the time of payment, 28% of
the gross proceeds of such payment made to me will be withheld.
</DIV>

<DIV align="left" style="font-size: 3pt;">
<FONT style="font-size: 9pt">Signature&nbsp;<DIV style="width: 80%; border-top: 1.0pt solid black; font-size: 1pt">&nbsp;</DIV>&nbsp;Date&nbsp;_______________,
2005
</FONT>
</DIV>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<P align="center" style="font-size: 10pt;">11
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<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>INSTRUCTIONS</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>1.&nbsp;&nbsp;&nbsp;Use of Letter of Transmittal</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    This Letter of Transmittal or a facsimile thereof, properly
    completed and duly executed, covering the Shares deposited
    pursuant to the Offer, in either case with the signature(s)
    guaranteed if required in Instruction&nbsp;4 below, together
    with accompanying certificates representing the Deposited Shares
    (or, alternatively, a Book-Entry Confirmation together with an
    Agent&#146;s Message with respect thereto) and all other
    documents required by the terms of the Offer and this Letter of
    Transmittal must be received by the Depositary or the
    U.S.&nbsp;Forwarding Agent, as applicable, at any of the offices
    specified on the back cover page at or prior to 8:00&nbsp;p.m.
    (Toronto time) on December&nbsp;20, 2005, unless the Offer in
    respect of the Shares is extended or withdrawn or unless the
    procedure for guaranteed delivery set out in Instruction&nbsp;2
    below is used. Shareholders accepting the Offer using book-entry
    transfer must ensure that the required documents are sent to the
    Depositary at its office in Toronto, Ontario. Such documents
    should not be sent to the U.S. Forwarding Agent.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)&nbsp;&nbsp;&nbsp;</TD>
    <TD align="left">
    <B>The method used to deliver this Letter of Transmittal and any
    accompanying certificates representing Shares or an Agent&#146;s
    Message, including delivery through The Depository
    Trust&nbsp;Company, is at the option and risk of the depositing
    Shareholder. If certificates for Shares are to be sent by mail,
    registered mail with return receipt requested and properly
    insured is recommended, and it is suggested that the mailing be
    made sufficiently in advance of the Expiry Time to permit
    delivery to the Depositary or the U.S.&nbsp;Forwarding Agent at
    or prior to such time. Delivery will only be effective upon
    actual receipt of certificates for such Shares by the Depositary
    or the U.S.&nbsp;Forwarding Agent, as applicable.</B></TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    Shareholders whose Shares are registered in the name of an
    investment dealer, stock broker, bank, trust company or other
    nominee should immediately contact such nominee in order to take
    the necessary steps to be able to deposit such Shares.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>2.&nbsp;&nbsp;&nbsp;Procedure for Guaranteed Delivery</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Shareholder wishes to deposit Shares pursuant to the Offer
and the certificate(s) representing such Shares are not
immediately available or the Shareholder is not able to deliver
the certificate(s) and all other required documents to the
Depositary or the U.S.&nbsp;Forwarding Agent before the Expiry
Time, those Shares may nevertheless be deposited pursuant to the
Offer provided that all of the following conditions are met:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    such deposit is made by or through an Eligible Institution;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    a properly completed and duly executed Notice of Guaranteed
    Delivery (printed on pink paper) in the form accompanying the
    Offer and Circular (or a manually signed facsimile thereof),
    including a guarantee to deliver by an Eligible Institution in
    the form set out in the Notice of Guaranteed Delivery, is
    received by the Depositary before the Expiry Time at its office
    in Toronto, Ontario listed in the Notice of Guaranteed Delivery;</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    the certificate(s) representing all deposited Shares, and, if
    the Separation Time has occurred before the Expiry Time and
    Rights Certificates have been distributed to Shareholders before
    the Expiry Time, the Rights Certificate(s) representing the
    deposited SRP Rights, together with this Letter of Transmittal
    (or a manually signed facsimile hereof), properly completed and
    duly executed with signatures guaranteed if so required in
    accordance with this Letter of Transmittal, and all other
    documents required by this Letter of Transmittal are received by
    the Depositary at its office in Toronto, Ontario listed in this
    Letter of Transmittal before 5:00&nbsp;p.m. (Toronto time) on
    the third trading day on the TSX after the Expiry Date; and</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    in the case of SRP Rights where the Separation Time has occurred
    before the Expiry Time but Rights Certificates have not been
    distributed to Shareholders before the Expiry Time, the Rights
    Certificate(s) representing the deposited SRP Rights, together
    with this Letter of Transmittal (or a manually signed facsimile
    hereof), properly completed and duly executed with signatures
    guaranteed if so required in accordance with this Letter of
    Transmittal and all other documents required by this Letter of
    Transmittal are received by the Depositary at any of its office
    in Toronto, Ontario listed in this Letter of Transmittal before
    5:00&nbsp;p.m. (Toronto time) on the third trading day on the
    TSX after Rights Certificates are distributed to Shareholders.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>The Notice of Guaranteed Delivery must be delivered by hand
or courier or transmitted by facsimile transmission or mailed to
the Depositary at its office in Toronto, Ontario listed in the
Notice of Guaranteed Delivery and must include a guarantee by an
Eligible Institution in the form set forth in the Notice of
Guaranteed Delivery.</B>
</DIV>

<P align="center" style="font-size: 10pt;">12

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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An &#147;Eligible Institution&#148; means a Canadian
Schedule&nbsp;I chartered bank, a major trust company in Canada,
a member of the Securities Transfer Agents Medallion Program
(STAMP), a member of the Stock Exchanges Medallion Program
(SEMP), or a member of the New York Stock Exchange, Inc.
Medallion Signature Program (MSP). Members of these programs are
usually members of a recognized stock exchange in Canada or the
United States, members of the Investment Dealers Association of
Canada, members of the National Association of Securities
Dealers, Inc. or banks or trust companies in the United States.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>3.&nbsp;&nbsp;&nbsp;Signatures</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
No signature guarantee is required on this Letter of Transmittal
if:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    this Letter of Transmittal is signed by the registered owner of
    the Shares exactly as the name of the registered holder appears
    on the Share certificate deposited herewith, and the cash
    payable and/or the certificates for Barrick Common Shares
    issuable, in each case pursuant to the Offer, are to be
    delivered directly to such registered holder, or</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    Shares are deposited for the account of an Eligible Institution.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
In all other cases, all signatures on this Letter of Transmittal
must be guaranteed by an Eligible Institution. If a certificate
representing Shares is registered in the name of a person other
than the signatory of this Letter of Transmittal or if the cash
payable and/or certificates for the Barrick Common Shares
issuable are to be delivered to a person other than the
registered owner, the certificate must be endorsed or
accompanied by an appropriate power of attorney, in either case,
signed exactly as the name of the registered owner appears on
the certificate with the signature on the certificate or power
of attorney guaranteed by an Eligible Institution.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>4.&nbsp;&nbsp;&nbsp;Guarantee of Signatures</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If this Letter of Transmittal is signed by a person other than
the registered owner(s) of the Deposited Shares, or if Deposited
Shares not purchased are to be returned to a person other than
such registered owner(s) or sent to an address other than the
address of the registered owner(s) as shown on the securities
register of Placer Dome or if payment is to be issued in the
name of a person other than the registered owner(s) of the
Deposited Shares, such signature must be guaranteed by an
Eligible Institution (except that no guarantee is required if
the signature is that of an Eligible Institution).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>5.&nbsp;&nbsp;&nbsp;Fiduciaries, Representatives and
Authorizations</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Where this Letter of Transmittal is executed by a person acting
as an executor, administrator, trustee or guardian, or on behalf
of a corporation, partnership or association or is executed by
any other person acting in a representative capacity, such
person should so indicate when signing and this Letter of
Transmittal must be accompanied by satisfactory evidence of the
authority to act. Any of the Offeror, the Depositary or the
U.S.&nbsp;Forwarding Agent, in its sole discretion, may require
additional evidence of authority or additional documentation.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>6.&nbsp;&nbsp;&nbsp;Delivery Instructions</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If any cheque(s) or certificate(s) are to be sent to someone at
an address other than the address of the Shareholder which
appears in Box&nbsp;A on this Letter of Transmittal, entitled
&#147;Registration and Payment Instructions&#148;, then
Box&nbsp;B on this Letter of Transmittal, entitled
&#147;Delivery Instructions&#148;, should be completed. If
Box&nbsp;B is not completed, any cheque(s) and/or share
certificate(s) in respect of Barrick Common Shares issued in
exchange for Shares will be mailed to the depositing Shareholder
at the address of the Shareholder as it appears in Box&nbsp;A
or, if no address of the Shareholder is provided in Box&nbsp;A,
then it will be mailed to the address of the Shareholder as it
appears on the securities register of Placer Dome. Any cheque(s)
and/or share certificate(s) mailed in accordance with the Offer
and this Letter of Transmittal will be deemed to be delivered at
the time of mailing.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>7.&nbsp;&nbsp;&nbsp;Partial Deposits</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If less than the total number of Shares evidenced by any
certificate submitted is to be deposited, fill in the number of
Shares to be deposited in Box&nbsp;1 on this Letter of
Transmittal. In such case, new certificate(s) for the number of
Shares not deposited will be sent to the registered holder as
soon as practicable after the Expiry Time (unless otherwise
provided in Box&nbsp;B on this Letter of Transmittal). The total
number of Shares evidenced by all certificates delivered will be
deemed to have been deposited unless otherwise indicated.
</DIV>

<P align="center" style="font-size: 10pt;">13

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<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>8.&nbsp;&nbsp;&nbsp;Solicitation</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Identify the dealer or broker, if any, who solicited acceptance
of the Offer by completing Box&nbsp;F on this Letter of
Transmittal and present a list of beneficial holders, if
applicable.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>9.&nbsp;&nbsp;&nbsp;U.S.&nbsp;Shareholders and Substitute
Form&nbsp;W-9</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
United States federal income tax law generally requires that a
U.S.&nbsp;Shareholder who receives cash in exchange for Shares
must provide the Depositary with his correct Taxpayer
Identification Number (&#147;TIN&#148;), which, in the case of a
Shareholder who is an individual, is generally the
individual&#146;s social security number. If the Depositary is
not provided with the correct TIN or an adequate basis for an
exemption, such holder may be subject to penalties imposed by
the Internal Revenue Service and backup withholding in an amount
equal to 28% of the gross proceeds of any payment received
hereunder. If withholding results in an overpayment of taxes, a
refund may be obtained.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To prevent backup withholding, each U.S.&nbsp;Shareholder must
provide his correct TIN by completing the &#147;Substitute
Form&nbsp;W-9&#148; set forth in this document, which requires
such holder to certify under penalties of perjury, (1)&nbsp;that
the TIN provided is correct (or that such holder is awaiting a
TIN); (2)&nbsp;that (i)&nbsp;the holder is exempt from backup
withholding, (ii)&nbsp;the holder has not been notified by the
Internal Revenue Service that he is subject to backup
withholding as a result of a failure to report all interest or
dividends, or (iii)&nbsp;the Internal Revenue Service has
notified the holder that they are no longer subject to backup
withholding; and (3)&nbsp;that the holder is a U.S.&nbsp;person
(including a U.S.&nbsp;resident alien).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Exempt holders (including, among others, all corporations) are
not subject to backup withholding and reporting requirements. To
prevent possible erroneous backup withholding, an exempt holder
must enter its correct TIN in Part&nbsp;1 of Substitute
Form&nbsp;W-9, write &#147;Exempt&#148; in Part&nbsp;2 of such
form, and sign and date the form. See the enclosed Guidelines
for Certification of Taxpayer Identification Number on
Substitute Form&nbsp;W-9 (the &#147;W-9 Guidelines&#148;) for
additional instructions.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If Shares are held in more than one name or are not in the name
of the actual owner, consult the enclosed W-9 Guidelines for
information on which TIN to report.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a U.S.&nbsp;Shareholder does not have a TIN, such holder
should: (i)&nbsp;consult the enclosed W-9 Guidelines for
instructions on applying for a TIN, (ii)&nbsp;write
&#147;Applied For&#148; in the space for the TIN in Part&nbsp;1
of the Substitute Form&nbsp;W-9, and (iii)&nbsp;sign and date
the Substitute Form&nbsp;W-9 and the Certificate of Awaiting
Taxpayer Identification Number set forth in this document. In
such case, the Depositary may withhold 28% of the gross proceeds
of any payment made to such holder prior to the time a properly
certified TIN is provided to the Depositary or the
U.S.&nbsp;Forwarding Agent and if the Depositary or the
U.S.&nbsp;Forwarding Agent is not provided with a TIN within
sixty (60)&nbsp;days, such amounts will be paid over to the
Internal Revenue Service.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the Substitute Form&nbsp;W-9 is not applicable to a
U.S.&nbsp;Shareholder because such holder is not a
U.S.&nbsp;person for United States federal income tax purposes,
such holder will instead need to submit an appropriate and
properly completed IRS Form&nbsp;W-8 Certificate of Foreign
Status, signed under penalties of perjury. Such appropriate IRS
Form&nbsp;W-8&nbsp;may be obtained from the Depositary or the
U.S.&nbsp;Forwarding Agent.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>A U.S.&nbsp;SHAREHOLDER WHO FAILS TO PROPERLY COMPLETE THE
SUBSTITUTE FORM W-9 SET FORTH IN THIS LETTER OF TRANSMITTAL OR,
IF APPLICABLE, THE APPROPRIATE IRS FORM W-8 MAY BE SUBJECT TO
BACKUP WITHHOLDING OF 28% OF THE GROSS PROCEEDS OF ANY PAYMENTS
MADE TO SUCH HOLDER PURSUANT TO THE OFFER.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>10.&nbsp;Currency of Payment</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All cash payable under the Offer will be denominated in
U.S.&nbsp;dollars.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>11.&nbsp;Miscellaneous</B>
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)</TD>
    <TD align="left">
    If the space on this Letter of Transmittal is insufficient to
    list all certificates for Common Shares or SRP Rights, if
    applicable, additional certificate numbers and number of
    securities may be included on a separate signed list affixed to
    this Letter of Transmittal.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)</TD>
    <TD align="left">
    If Deposited Shares are registered in different forms (e.g.,
    &#147;John Doe&#148; and &#147;J.&nbsp;Doe&#148;), a separate
    Letter of Transmittal should be signed for each different
    registration.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)</TD>
    <TD align="left">
    No alternative, conditional or contingent deposits will be
    acceptable. All depositing holders of Shares by execution of
    this Letter of Transmittal or a facsimile hereof waive any right
    to receive any notice of the acceptance of Deposited Shares for
    payment, except as required by Law.</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">14

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<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="4%"></TD>
    <TD width="93%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)</TD>
    <TD align="left">
    The Offer and all contracts resulting from the acceptance of the
    Offer will be construed in accordance with and governed by the
    Laws of the Province of Ontario and the federal laws of Canada
    applicable therein. Each party to a contract resulting from the
    acceptance of the Offer unconditionally and irrevocably attorns
    to the exclusive jurisdiction of the courts of the Province of
    Ontario.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(e)</TD>
    <TD align="left">
    The Offeror will not pay any fees or commissions to any broker
    or dealer or any other person for soliciting deposits of Shares
    pursuant to the Offer (other than to members of the Soliciting
    Dealer Group and the Depositary), except as otherwise set forth
    in the Offer to Purchase.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(f)</TD>
    <TD align="left">
    Before completing this Letter of Transmittal, you are urged to
    read the accompanying Offer and Circular.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(g)</TD>
    <TD align="left">
    All questions as to the validity, form, eligibility (including
    timely receipt) and acceptance of Shares deposited pursuant to
    the Offer will be determined by the Offeror in its sole
    discretion. Depositing Shareholders agree that such
    determination shall be final and binding. The Offeror reserves
    the absolute right to reject any and all deposits which it
    determines not to be in proper form or which may be unlawful to
    accept under the Laws of any jurisdiction. The Offeror reserves
    the absolute right to waive any defects or irregularities in the
    deposit of any Shares. There shall be no duty or obligation of
    the Offeror, the Depositary, the U.S.&nbsp;Forwarding Agent or
    any other person to give notice of any defects or irregularities
    in any deposit and no liability shall be incurred by any of them
    for failure to give any such notice. The Offeror&#146;s
    interpretation of the terms and conditions of the Offer and
    Circular, this Letter of Transmittal and the Notice of
    Guaranteed Delivery will be final and binding.</TD>
</TR>

<TR>
    <TD style="font-size: 6pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(h)</TD>
    <TD align="left">
    Additional copies of the Offer and Circular, this Letter of
    Transmittal and the Notice of Guaranteed Delivery may be
    obtained from the Depositary at the addresses listed on the back
    cover.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>12.&nbsp;Lost Certificates</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a certificate has been lost, destroyed, mutilated or mislaid,
this Letter of Transmittal should be completed as fully as
possible and forwarded, together with a letter describing the
loss, to the Depositary. The Depositary will forward such letter
to Placer Dome&#146;s registrar and transfer agent so that the
transfer agent may provide replacement instructions. If a
certificate has been lost, destroyed, mutilated or mislaid,
please ensure that you provide your telephone number so that the
Depositary or Placer Dome&#146;s transfer agent may contact you.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>13.&nbsp;Assistance</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
THE DEPOSITARY, THE U.S.&nbsp;FORWARDING AGENT, THE DEALER
MANAGERS OR THE INFORMATION AGENTS (SEE BACK COVER PAGE FOR
THEIR RESPECTIVE ADDRESSES AND TELEPHONE NUMBERS) OR YOUR
INVESTMENT DEALER, STOCK BROKER, TRUST COMPANY MANAGER, BANK
MANAGER, LAWYER OR OTHER PROFESSIONAL ADVISOR WILL BE ABLE TO
ASSIST YOU IN COMPLETING THIS LETTER OF TRANSMITTAL.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>THIS LETTER OF TRANSMITTAL OR A MANUALLY SIGNED FACSIMILE
(TOGETHER WITH CERTIFICATES FOR DEPOSITED SHARES AND SRP RIGHTS,
IF APPLICABLE) OR THE NOTICE OF GUARANTEED DELIVERY OR A
MANUALLY SIGNED FACSIMILE THEREOF MUST BE RECEIVED BY THE
DEPOSITARY BEFORE THE EXPIRY TIME.</B>
</DIV>

<P align="center" style="font-size: 10pt;">15

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>FOR U.S.&nbsp;SHAREHOLDERS ONLY</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>GUIDELINES FOR CERTIFICATION OF TAXPAYER IDENTIFICATION</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>NUMBER ON SUBSTITUTE FORM&nbsp;W-9</B>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Guidelines for Determining the Proper Identification Number
for the Payee (You)</B>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>To Give the Payer</B>&nbsp;&#151; Social security numbers
have nine digits separated by two hyphens: i.e., 000-00-0000.
Employee identification numbers have nine digits separated by
only one hyphen: i.e., 00-0000000. The table below will help
determine the number to give the payer. All &#147;Section&#148;
references are to the Internal Revenue Code of 1986, as amended.
&#147;IRS&#148; is the Internal Revenue Service.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; ">

<TR style="font-size: 1pt;">
    <TD width="3%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="65%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="26%">&nbsp;</TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="5" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Give The Taxpayer</B></TD>
</TR>

<TR>
    <TD colspan="3" align="center" nowrap><B>For This Type of Account:</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Identification</B></TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="5" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    1.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Individual</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The individual</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    2.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Two or more individuals (joint account)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The actual owner of the account or, if combined fund, the first
    individual on the account(1)</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    3.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Custodian account of a minor (Uniform Gift to Minors Act)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The minor(2)</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    4.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    a.&nbsp;The usual revocable savings trust account (grantor is
    also trustee)</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The grantor-trustee(1)</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    b.&nbsp;So-called trust that is not a legal or valid trust under
    state law</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The actual owner(1)</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    5.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Sole proprietorship</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The owner(3)</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    6.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    A valid trust, estate, or pension trust</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The legal entity(4)</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    7.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Corporate</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The corporation</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    8.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Association, club, religious, charitable, educational, or other
    tax-exempt organization account</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The organization</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    9.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Partnership</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The partnership</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    10.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    A broker or registered nominee</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The broker or nominee</TD>
</TR>

<TR>
    <TD align="right" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    11.</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    Account with the Department of Agriculture in the name of a
    public entity (such as a state or local government, school
    district, or prison) that receives agricultural program payments</TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">
    The public entity</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="5" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV style="margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="2%"></TD>
    <TD width="98%"></TD>
</TR>

<TR valign="top">
    <TD>(1)&nbsp;</TD>
    <TD align="left">
    List first and circle the name of the person whose number you
    furnish. If only one person on an account has a social security
    number, that person&#146;s number must be used.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)&nbsp;</TD>
    <TD align="left">
    Circle the minor&#146;s name.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(3)&nbsp;</TD>
    <TD align="left">
    You must show your individual name, but you may also enter your
    &#147;doing business as&#148; name. You may use either your
    social security number or your employer identification number
    (if you have one).</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(4)&nbsp;</TD>
    <TD align="left">
    List first and circle the name of the legal trust, estate, or
    pension trust. (Do not furnish the taxpayer identification
    number of the personal representative or trustee unless the
    legal entity itself is not designated in the account title.)</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTE:</B> If no name is circled when there is more than one
name, the number will be considered to be that of the first name
listed.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Obtaining a Number</B>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
If you don&#146;t have a taxpayer identification number or you
don&#146;t know your number, obtain Form&nbsp;SS-5, Application
for a Social Security Card, at the local Social Administration
office, or Form&nbsp;SS-4, Application for Employer
Identification Number, by calling 1&nbsp;(800)&nbsp;TAX-FORM,
and apply for a number.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Payees Exempt from Backup Withholding</B>
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Payees specifically exempted from withholding include:
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(i)</TD>
    <TD align="left">
    An organization exempt from tax under Section&nbsp;501(a), an
    individual retirement account (IRA), or a custodial account
    under Section&nbsp;403(b)(7), if the account satisfies the
    requirements of Section&nbsp;401(f)(2).</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(ii)</TD>
    <TD align="left">
    The United States or a state thereof, the District of Columbia,
    a possession of the United States, or a political subdivision or
    wholly-owned agency or instrumentality of any one or more of the
    foregoing.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(iii)</TD>
    <TD align="left">
    An international organization or any agency or instrumentality
    thereof.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(iv)</TD>
    <TD align="left">
    A foreign government and any political subdivision, agency or
    instrumentality thereof.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Payees that may be exempt from backup withholding include:
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(i)</TD>
    <TD align="left">
    A corporation.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(ii)</TD>
    <TD align="left">
    A financial institution.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(iii)</TD>
    <TD align="left">
    A dealer in securities or commodities required to register in
    the United States, the District of Columbia, or a possession of
    the United States.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(iv)</TD>
    <TD align="left">
    A real estate investment trust.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(v)</TD>
    <TD align="left">
    A common trust fund operated by a bank under Section&nbsp;584(a).</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(vi)</TD>
    <TD align="left">
    An entity registered at all times during the tax year under the
    Investment Company Act of 1940.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(vii)</TD>
    <TD align="left">
    A middleman known in the investment community as a nominee or
    custodian.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(viii)</TD>
    <TD align="left">
    A futures commission merchant registered with the Commodity
    Futures Trading Commission.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(ix)</TD>
    <TD align="left">
    A foreign central bank of issue.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(v)</TD>
    <TD align="left">
    A trust exempt from tax under Section&nbsp;664 or described in
    Section&nbsp;4947.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 8pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Exempt payees described above must file a Substitute
Form&nbsp;W-9 included in this Letter of Transmittal to avoid
possible erroneous backup withholding. FILE THIS FORM WITH THE
DEPOSITARY, FURNISH YOUR TAXPAYER IDENTIFICATION NUMBER, WRITE
&#147;EXEMPT&#148; IN PART&nbsp;2 OF THE FORM, SIGN AND DATE THE
FORM AND RETURN IT TO THE DEPOSITARY.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>PRIVACY ACT NOTICE</B>&nbsp;&#151; Section&nbsp;6109 requires
you to provide your correct taxpayer identification number to
payers, who must report the payments to the IRS. The IRS uses
the number for identification purposes and may also provide this
information to various government agencies for tax enforcement
or litigation purposes. Payers must be given the numbers whether
or not recipients are required to file tax returns. Payers must
generally withhold 28% of taxable interest, dividend, and
certain other payments to a payee who does not furnish a
taxpayer identification number to payer. Certain penalties may
also apply.
</DIV>

<DIV align="left" style="font-size: 8pt; margin-top: 9pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Penalties</B>
</DIV>

<DIV style="margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 8pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="97%"></TD>
</TR>

<TR valign="top">
    <TD>(1)</TD>
    <TD align="left">
    <B>Failure to Furnish Taxpayer Identification
    Number</B>.&nbsp;&#151; If you fail to furnish your taxpayer
    identification number to a payer, you are subject to a penalty
    of $50 for each such failure unless your failure is due to
    reasonable cause and not to willful neglect.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(2)</TD>
    <TD align="left">
    <B>Civil Penalty for False Information With Respect to
    Withholding</B>.&nbsp;&#151; If you make a false statement with
    no reasonable basis that results in no backup withholding, you
    are subject to a $500 penalty.</TD>
</TR>

<TR>
    <TD style="font-size: 3pt">&nbsp;</TD>
</TR>

<TR valign="top">
    <TD>(3)</TD>
    <TD align="left">
    <B>Criminal Penalty for Falsifying Information</B>.&nbsp;&#151;
    Wilfully falsifying certifications or affirmations may subject
    you to criminal penalties including fines and/or imprisonment.</TD>
</TR>

</TABLE>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Depositary for the Offer is:</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>CIBC Mellon Trust&nbsp;Company</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 2pt; ">

<TR style="font-size: 1pt;">
    <TD width="51%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="46%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>By Mail</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>By Registered Mail, by Hand or by Courier</B></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    P.O. Box 1036<BR>
    Adelaide Street Postal Station<BR>
    Toronto, Ontario M5C 2K4</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    199 Bay Street<BR>
    Commerce Court West<BR>
    Securities Level<BR>
    Toronto, Ontario M5L 1G9</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="center" style="font-size: 10pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Telephone: (416)&nbsp;643-5500
</DIV>

<DIV align="center" style="font-size: 10pt;">
Toll Free: 1-800-387-0825
</DIV>

<DIV align="center" style="font-size: 10pt;">
E-Mail: inquiries@cibcmellon.com
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The U.S. Forwarding Agent is:</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 2pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Mellon Investor Services LLC</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 4pt; ">

<TR style="font-size: 1pt;">
    <TD width="65%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="32%">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3" align="center" valign="top">
    <B>By Mail, Registered Mail, by Hand or by Courier</B></TD>
</TR>

<TR>
    <TD colspan="3" align="center" valign="top">
    120 Broadway, 13th Floor<BR>
    <BR>
    New York, New York 10027<BR>
    <BR>
    Toll Free: 1-800-777-3674</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="center" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Dealer Managers for the Offer are:</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 4pt; ">

<TR style="font-size: 1pt;">
    <TD width="54%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="43%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I>In Canada</I></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <I>In the United States</I></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <B>RBC Dominion Securities Inc.&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>RBC Capital Markets Corporation</B></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    200 Bay Street, 4th Floor<BR>
    Royal Bank Plaza, South Tower<BR>
    Toronto, Ontario M5J 2W7</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    Two Embarcadero Center<BR>
    Suite 1200<BR>
    San Francisco, California 94111</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    Telephone: (416)&nbsp;842-7517<BR>
    Toll Free: 1-866-293-4855</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    Toll Free: 1-866-293-4855</TD>
</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 4pt; ">

<TR style="font-size: 1pt;">
    <TD width="49%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="48%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <B>Merrill Lynch Canada Inc.&nbsp;</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Merrill Lynch, Pierce, Fenner &#38; Smith Incorporated</B></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    181 Bay Street, 4th Floor<BR>
    Toronto, Ontario<BR>
    M5J 2V8<BR>
    Telephone: (416) 369-2888</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    1400 Merrill Lynch Drive<BR>
    MSC-0401N<BR>
    Pennington, New Jersey 08534<BR>
    Telephone: (609)&nbsp;818-8000<BR>
    Toll Free: 1-877-653-2948</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="center" style="font-size: 10pt; margin-top: 4pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The Information Agents for the Offer are:</B>
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 9pt; margin-top: 2pt; ">

<TR style="font-size: 1pt;">
    <TD width="50%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I>For Shareholders in Canada</I></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <I>For Shareholders in the<BR>
    U.S. and other locations</I></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <IMG src="t18587fkingslgo.gif" alt="(KINGSDALE LOGO)"></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <IMG src="t18587fmkenzlgo.gif" alt="(MACKENZIE LOGO)"></TD>
</TR>

<TR>
    <TD align="center" valign="top">
    The Exchange Tower<BR>
    130 King Street West, Suite 2950<BR>
    Toronto, Ontario<BR>
    M5X 1C7<BR>
    <BR>
     Toll Free: 1-866-877-2571<BR>
    shareholder@kingsdalecapital.com<BR>
    Facsimile: 416-867-2271<BR>
    Toll Free Facsimile: 1-866-545-5580<BR>
    Canadian Banks and Brokers Call Collect: 416-867-2342</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    105 Madison Avenue<BR>
    New York, New York 10016<BR>
    proxy@mackenziepartners.com<BR>
    Telephone: (212) 929-5500 (call collect)<BR>
    Toll Free: (800) 322-2885 (English)<BR>
    Toll Free: (888) 405-1217 (French)</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Any questions or requests for assistance or additional copies
of this Letter of Transmittal and the Offer and Circular may be
directed by holders of Shares to the Depositary, the U.S.
Forwarding Agent, the Dealer Managers or the Information Agents
at their respective telephone numbers and locations set out
above. You may also contact your broker, dealer, commercial bank
or trust company or other nominee for assistance concerning the
Offer</B>.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>Des exemplaires en fran&#231;ais de l&#146;avis de livraison
garantie, de la pr&#233;sente offre et note d&#146;information
et de la lettre d&#146;envoi vous seront transmis avec plaisir.
Veuillez communiquer avec les agents d&#146;information au
1-888-405-1217 (E.U.) ou 1-866-877-2571 (Canada).</B>
</DIV>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.3
<SEQUENCE>4
<FILENAME>t18587fexv1w3.htm
<DESCRIPTION>EXHIBIT 1.3
<TEXT>
<HTML>
<HEAD>
<TITLE>exv1w3</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt;">
<B><I>THIS IS NOT A LETTER OF TRANSMITTAL. THIS NOTICE OF
GUARANTEED DELIVERY IS FOR USE IN ACCEPTING THE OFFER BY BARRICK
GOLD CORPORATION FOR ALL OUTSTANDING COMMON SHARES (INCLUDING
THE ASSOCIATED RIGHTS UNDER THE SHAREHOLDER RIGHTS PLAN) OF
PLACER DOME INC.</I></B>
</DIV>

<DIV align="center" style="font-size: 16pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>NOTICE OF GUARANTEED DELIVERY</B>
</DIV>

<DIV align="center" style="font-size: 14pt;">
<B>For Deposit of Shares</B>
</DIV>

<DIV align="center" style="font-size: 14pt;">
<B>of</B>
</DIV>

<DIV align="center" style="font-size: 16pt;">
<B>PLACER DOME INC.</B>
</DIV>

<DIV align="center" style="font-size: 14pt;">
<B>pursuant to the Offer dated November&nbsp;10, 2005 made by</B>
</DIV>

<DIV align="center" style="font-size: 16pt;">
<B>BARRICK GOLD CORPORATION</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">

</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 12pt;">
<B>THE OFFER WILL BE OPEN FOR ACCEPTANCE UNTIL 8:00&nbsp;P.M.
(TORONTO TIME) ON DECEMBER&nbsp;20, 2005, UNLESS EXTENDED OR
WITHDRAWN.</B>
</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 15pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">

</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 12pt;">
<B>USE THIS NOTICE OF GUARANTEED DELIVERY IF YOU WISH TO ACCEPT
THE OFFER BUT YOUR SHARE CERTIFICATES ARE NOT IMMEDIATELY
AVAILABLE OR YOU ARE NOT ABLE TO DELIVER YOUR SHARE CERTIFICATES
TO THE DEPOSITARY OR THE U.S.&nbsp;FORWARDING AGENT BEFORE THE
EXPIRY TIME</B>
</DIV>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
This Notice of Guaranteed Delivery (the &#147;Notice of
Guaranteed Delivery&#148;) must be used to accept the offer
dated November&nbsp;10, 2005 (the &#147;Offer&#148;) of Barrick
Gold Corporation (the &#147;Offeror&#148;) to purchase all of
the outstanding common shares (including those shares that are
subject to CHESS Depositary Interests and International
Depositary Receipts) (the &#147;Placer Dome Common Shares&#148;)
of Placer Dome Inc. (&#147;Placer Dome&#148;), which includes
common shares that may become outstanding after the date of the
Offer but before the time of expiry of the Offer upon
conversion, exchange or exercise of options or convertible
debentures or other securities of Placer Dome that are
convertible into or exchangeable or exercisable for common
shares, together with the associated rights (the &#147;SRP
Rights&#148;, a Placer Dome Common Share with the associated
SRP&nbsp;Right, a &#147;Share&#148;) issued under the
Shareholder Rights Plan of Placer Dome if
(i)&nbsp;certificate(s) representing the Shares to be deposited
are not immediately available, or (ii)&nbsp;the holder of the
Shares (the &#147;Shareholder&#148;) is not able to deliver the
certificate(s) and all other required documents to the
Depositary or the U.S. Forwarding Agent before the Expiry Time
(as defined in the Offer). This Notice of Guaranteed Delivery
must be delivered by hand or courier or transmitted by facsimile
or mailed to the Depositary at its office in Toronto, Ontario
listed in this Notice of Guaranteed Delivery.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The terms and conditions of the Offer are incorporated by
reference in this Notice of Guaranteed Delivery. Capitalized
terms used but not defined in this Notice of Guaranteed Delivery
which are defined in the Offer and Circular dated
November&nbsp;10, 2005 relating to the Offer have the meanings
ascribed to them in the Offer and Circular. Unless otherwise
indicated, all references to &#147;$&#148; or
&#147;dollars&#148; in this Notice of Guaranteed Delivery refer
to U.S.&nbsp;dollars.
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>WHEN AND HOW TO USE THIS NOTICE OF GUARANTEED DELIVERY</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If a Shareholder wishes to deposit Shares pursuant to the Offer
and either the certificate(s) representing such Shares are not
immediately available or the Shareholder is not able to deliver
the certificate(s) and all other required documents to the
Depositary or the U.S. Forwarding Agent before the Expiry Time,
those Shares may nevertheless be deposited pursuant to the Offer
provided that all of the following conditions are met:
</DIV>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(a)&nbsp;</TD>
    <TD align="left">
    such deposit is made by or through an Eligible Institution;</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(b)&nbsp;</TD>
    <TD align="left">
    this Notice of Guaranteed Delivery (or a manually signed
    facsimile hereof), properly completed and duly executed,
    including a guarantee to deliver by an Eligible Institution in
    the form set out below, is received by the Depositary before the
    Expiry Time at its office in Toronto, Ontario listed in this
    Notice of Guaranteed Delivery;</TD>
</TR>

</TABLE>

<P align="center" style="font-size: 10pt;">
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(c)&nbsp;</TD>
    <TD align="left">
    the certificate(s) representing all deposited Shares, and, if
    the Separation Time has occurred before the Expiry Time and
    certificates representing SRP Rights (&#147;Rights
    Certificates&#148;) have been distributed to Shareholders before
    the Expiry Time, the Rights Certificate(s) representing the
    deposited SRP Rights, together with a Letter of Transmittal (or
    a manually signed facsimile hereof), properly completed and duly
    executed with signatures guaranteed if so required in accordance
    with the Letter of Transmittal and all other documents required
    by the Letter of Transmittal, are received by the Depositary at
    any of its offices listed in the Letter of Transmittal before
    5:00&nbsp;p.m. (Toronto time) on the third trading day on the
    TSX after the Expiry Date; and</TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 10pt;">

<TR>
    <TD width="3%"></TD>
    <TD width="3%"></TD>
    <TD width="94%"></TD>
</TR>

<TR valign="top">
    <TD>&nbsp;</TD>
    <TD>(d)&nbsp;</TD>
    <TD align="left">
    in the case of SRP Rights where the Separation Time has occurred
    before the Expiry Time but Rights Certificates have not been
    distributed to Shareholders before the Expiry Time, the Rights
    Certificate(s) representing the deposited SRP Rights, together
    with the Letter of Transmittal (or a manually signed facsimile
    hereof), properly completed and duly executed with signatures
    guaranteed if so required in accordance with the Letter of
    Transmittal and all other documents required by the Letter of
    Transmittal are received by the Depositary or the U.S.
    Forwarding Agent at any of their offices listed in the Letter of
    Transmittal before 5:00&nbsp;p.m. (Toronto time) on the third
    trading day on the TSX after Rights Certificates are distributed
    to Shareholders.</TD>
</TR>

</TABLE>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>This Notice of Guaranteed Delivery must be delivered by hand
or courier or transmitted by facsimile or mailed to the
Depositary at its office in Toronto, Ontario listed in this
Notice of Guaranteed Delivery and must include a guarantee by an
Eligible Institution in the form set forth in this Notice of
Guaranteed Delivery.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
An &#147;Eligible Institution&#148; means a Canadian
Schedule&nbsp;I chartered bank, a major trust company in Canada,
a member of the Securities Transfer Agents Medallion Program
(STAMP), a member of the Stock Exchanges Medallion Program
(SEMP), or a member of the New York Stock Exchange, Inc.
Medallion Signature Program (MSP). Members of these programs are
usually members of a recognized stock exchange in Canada or the
United States, members of the Investment Dealers Association of
Canada, members of the National Association of Securities
Dealers, Inc. or banks or trust companies in the United States.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned understands and acknowledges that payment for
Shares tendered pursuant to the Letter of Transmittal will be
made only after timely receipt by the Depositary or U.S.
Forwarding Agent of (i)&nbsp;certificate(s) representing all
deposited Shares and if the Separation Time has occurred before
the Expiry Time and Rights Certificates have been distributed to
Shareholders before the Expiry Time, Rights Certificates, and a
Letter of Transmittal or a facsimile thereof, properly completed
and duly executed, with any signatures guaranteed, if so
required, and all other documents required by the Letter of
Transmittal before 5:00&nbsp;p.m. (Toronto time) on the third
trading day on the TSX after the date on which the Expiry Time
occurs; and (ii)&nbsp;in the case of SRP Rights where the
Separation Time has occurred before the Expiry Time but Rights
Certificates have not been distributed to Shareholders before
the Expiry Time, Rights Certificates and a Letter of Transmittal
or a facsimile thereof, properly completed and duly executed,
with any signatures guaranteed, if so required, and all other
documents required by the Letter of Transmittal before
5:00&nbsp;p.m. on the third trading day on the TSX after the
Rights Certificates are distributed to Shareholders. The
undersigned also understands and acknowledges that under no
circumstances will interest accrue or be paid by the Offeror or
the Depositary to persons depositing Shares on the purchase
price of Shares purchased by the Offeror, regardless of any
delay in making such payment, and that the consideration for
Shares tendered pursuant to the guaranteed delivery procedures
will be the same as that for Shares delivered to the Depositary
before the Expiry Time, even if the certificate(s) representing
all deposited Shares and Rights Certificates, if applicable, to
be delivered pursuant to the guaranteed delivery procedures set
forth in Section&nbsp;3 of the Offer, &#147;Manner of
Acceptance&nbsp;&#151; Procedure for Guaranteed Delivery&#148;,
are not so delivered to the Depositary or the U.S. Forwarding
Agent and, therefore, payment by the Depositary on account of
such Shares is not made until after the take-up and payment of
the Shares pursuant to the Offer.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All authority conferred, or agreed to be conferred, by this
Notice of Guaranteed Delivery may be exercised during any
subsequent legal incapacity of the undersigned and shall, to the
extent permitted by Laws, survive the death or incapacity,
bankruptcy or insolvency or the undersigned and all obligations
of the undersigned under this Notice of Guaranteed Delivery
shall be binding upon the heirs, personal representatives,
successors and assigns of the undersigned.
</DIV>

<P align="center" style="font-size: 10pt;">2

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV style="margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD><B>TO:</B></TD>
    <TD>
    <B>BARRICK GOLD CORPORATION</B></TD>
</TR>

</TABLE>

<DIV style="margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;"></DIV>

<TABLE width="100%" border="0" cellpadding="0" cellspacing="0" style="font-size: 11pt;">

<TR>
    <TD width="9%"></TD>
    <TD width="91%"></TD>
</TR>

<TR valign="top">
    <TD><B>AND TO:</B></TD>
    <TD align="left">
    <B>CIBC MELLON TRUST COMPANY, as Depositary</B></TD>
</TR>

</TABLE>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 10pt; margin-top: 15pt; ">

<TR style="font-size: 1pt;">
    <TD width="30%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="45%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="19%">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <I>By Mail:</I></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <I>By Registered Mail, by Hand or by Courier</I></TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <I>By Facsimile Transmission:</I></TD>
</TR>

<TR>
    <TD colspan="5">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    P.O. Box 1036<BR>
    Adelaide Street Postal Station<BR>
    Toronto, ON M5C 2K4<BR>
    Canada</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    199 Bay Street<BR>
    Commerce Court West,<BR>
    Securities Level<BR>
    Toronto, ON M5L 1G9<BR>
    Canada</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    (416) 643-3148</TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>DELIVERY OF THIS NOTICE OF GUARANTEED DELIVERY TO AN ADDRESS
OR TRANSMISSION OF THIS NOTICE OF GUARANTEED DELIVERY VIA
FACSIMILE TO A NUMBER OTHER THAN SET FORTH ABOVE DOES NOT
CONSTITUTE A VALID DELIVERY. TO CONSTITUTE DELIVERY FOR THE
PURPOSE OF SATISFYING GUARANTEED DELIVERY, UPON RECEIPT OF THE
CERTIFICATES TO WHICH THIS NOTICE OF GUARANTEED DELIVERY APPLIES
THE LETTER OF TRANSMITTAL AND ACCOMPANYING CERTIFICATE(S) MUST
BE DELIVERED TO THE SAME OFFICE OF THE DEPOSITARY IN TORONTO,
ONTARIO WHERE THIS NOTICE OF GUARANTEED DELIVERY IS
DELIVERED.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>THIS NOTICE OF GUARANTEED DELIVERY IS NOT TO BE USED TO
GUARANTEE SIGNATURES ON THE LETTER OF TRANSMITTAL. IF A
SIGNATURE ON THE LETTER OF TRANSMITTAL IS REQUIRED TO BE
GUARANTEED BY AN ELIGIBLE INSTITUTION, SUCH SIGNATURE MUST
APPEAR IN THE APPLICABLE SPACE IN THE LETTER OF TRANSMITTAL.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<B>DO NOT SEND CERTIFICATES REPRESENTING PLACER DOME COMMON
SHARES OR SRP RIGHTS, WITH THIS NOTICE OF GUARANTEED DELIVERY.
SUCH CERTIFICATES MUST BE SENT WITH YOUR LETTER OF
TRANSMITTAL.</B>
</DIV>

<P align="center" style="font-size: 10pt;">3

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The undersigned hereby deposits with the Offeror, upon the terms
and conditions set forth in the Offer and Circular and the
related Letter of Transmittal, receipt of which is hereby
acknowledged, the Shares listed below, pursuant to the
guaranteed delivery procedures set forth in Section&nbsp;3 of
the Offer, &#147;Manner of Acceptance&nbsp;&#151; Procedure for
Guaranteed Delivery&#148;.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; margin-top: 12pt; ">

<TR style="font-size: 1pt;">
    <TD width="21%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>


<TR>
    <TD colspan="7" align="center" nowrap><B>BOX 1</B></TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>


<TR>
    <TD colspan="7" align="center" nowrap><B>PLACER DOME COMMON SHARES</B></TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Number of Common</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Number of Placer Dome</B></TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Name(s) in which Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Placer Dome Shares</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Common Shares</B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B>Certificate Number(s)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>(please print)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Represented by Certificate</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Deposited*</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">
    <B>Total:</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; ">

<TR style="font-size: 1pt;">
    <TD width="21%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="22%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="24%">&nbsp;</TD>
</TR>



<TR>
    <TD colspan="7" align="center" nowrap><B>SRP RIGHTS** (To be completed if necessary)</B></TD>
</TR>


<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="center" nowrap style="border-top: 1pt solid #000000;">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Name(s) in which Registered</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Number of SRP Rights</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Number of SRP Rights</B></TD>
</TR>

<TR>
    <TD align="center" nowrap><B>Certificate Number(s)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>(please print)</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Represented by Certificate</B></TD>
    <TD>&nbsp;</TD>
    <TD align="center" nowrap><B>Deposited*</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">
    <B>Total:</B></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="7" align="left" valign="top">
    <B>*&nbsp;Unless otherwise indicated, the total number of Shares
    and SRP Rights evidenced by all certificates delivered will be
    deemed to have been deposited.</B></TD>
</TR>

<TR>
    <TD colspan="7">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="7" align="left" valign="top">
    <B>**&nbsp;The following procedures must be followed in order to
    effect the valid delivery of certificates representing SRP
    Rights (&#147;Rights Certificates&#148;): (i)&nbsp;if the
    Separation Time under the Shareholder Rights Plan has not
    occurred prior to the Expiry Time and Rights Certificates have
    not been distributed by Placer Dome, a deposit of Placer Dome
    Common Shares by the undersigned will also constitute a deposit
    of the associated SRP Rights; (ii)&nbsp;if Rights Certificates
    have been distributed by Placer Dome and received by the
    undersigned prior to the time the undersigned deposits Placer
    Dome Common Shares pursuant to the Offer, Rights Certificate(s)
    representing SRP Rights equal in number to the number of Placer
    Dome Common Shares deposited must be delivered with the
    certificate(s) representing the Placer Dome Common Shares; or
    (iii)&nbsp;if the Separation Time occurs and Rights Certificates
    are not distributed by the time the undersigned deposits its
    Placer Dome Common Shares pursuant to the Offer, the undersigned
    may deposit its SRP Rights before receiving Rights
    Certificate(s) by using the guaranteed delivery procedure. Note
    that in any case, a deposit of Placer Dome Common Shares
    constitutes an agreement by the undersigned to deliver Rights
    Certificate(s) equal in number to the number of deposited Placer
    Dome Common Shares to the Depositary or the U.S. Forwarding
    Agent, as applicable, on or before the third trading day on the
    TSX after the date, if any, that any Rights Certificates are
    distributed. The Offeror reserves the right to require, if the
    Separation Time occurs before the Expiry Time, that the
    Depositary or the U.S. Forwarding Agent, as applicable, receive
    from the undersigned, prior to taking up the Placer Dome Common
    Shares for payment pursuant to the Offer, Rights Certificate(s)
    representing SRP Rights equal in number to the Placer Dome
    Common Shares deposited by the undersigned.</B></TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD colspan="7" align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 3pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>(Please print or type. If space is insufficient, please
attach a list to this Notice of Guaranteed Delivery in the above
form.)</B>
</DIV>

<P align="center" style="font-size: 10pt;">4
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="width: 100%; border: 1px solid black; padding: 12px;">

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>BOX 2</B>
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>ELECTION FOR CASH OR SHARES</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Pursuant to the Offer, the undersigned hereby elects to receive
one of the following forms of consideration for all of the
deposited Shares represented by the certificate(s) listed above.
Shareholders may elect to receive the Cash Alternative (Choice
A)&nbsp;OR the Share Alternative (Choice B).
</DIV>

<DIV align="center" style="font-size: 10pt; margin-top: 18pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>Shareholders may choose only ONE of the choices below:</B>
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><FONT face="wingdings">&#111;</FONT><FONT style="font-size: 10pt">&nbsp;Choice
A&nbsp;&#151; The CASH ALTERNATIVE</FONT></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Shareholders who check this box will receive U.S.$20.50 in cash
for each Share deposited under this Choice A (subject to pro
ration).
</DIV>

<DIV align="center" style="font-size: 12pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B><FONT face="wingdings">&#111;</FONT><FONT style="font-size: 10pt">&nbsp;Choice
B&nbsp;&#151; The SHARE ALTERNATIVE</FONT></B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Shareholders who check this box will receive 0.7518 of a common
share of the Offeror (a &#147;Barrick Common Share&#148;) and
U.S.$0.05 in cash for each Share deposited under this Choice B
(subject to pro ration).
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>If neither of the foregoing choices is properly made, the
undersigned will be deemed to have elected the Share
Alternative.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
No fractional Barrick Common Shares will be issued pursuant to
the Offer. Where a Shareholder is to receive Barrick Common
Shares as consideration under the Offer and the aggregate number
of Barrick Common Shares to be issued to such Shareholder would
result in a fraction of a Barrick Common Share being issuable,
the number of Barrick Common Shares to be received by such
Shareholder will either be rounded up (if the fractional
interest is 0.5 or more) or down (if the fractional interest is
less than 0.5) and the amount of cash to be received by such
Shareholder will correspondingly be either decreased or
increased (on the basis of U.S.$27.20 per Barrick Common Share),
provided, however, that the number of Barrick Common Shares to
be received by a Shareholder shall be rounded down in all
circumstances where rounding would result in such Shareholder
receiving less than U.S.$0.05 per Share tendered by such
Shareholder on a per Share basis.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
A Shareholder who is an &#147;Eligible Holder&#148; (as defined
in the Offer and Circular) and who wishes to elect the
&#147;Rollover Option&#148; (as defined in the Offer and
Circular) in the Letter of Transmittal to make the joint tax
election with the Offeror in order to obtain a full or partial
tax-deferred rollover for Canadian federal income tax purposes
in respect of the disposition of Shares pursuant to the Offer,
must elect the Share Alternative. See Section&nbsp;22 of the
Circular, &#147;Canadian Federal Income Tax Considerations&#148;.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>The undersigned acknowledges that the consideration payable
pursuant to the Offer and this election is subject to pro ration
as set forth in Section&nbsp;1 of the Offer, &#147;The
Offer&#148;. If, on any Take-Up Date, the aggregate cash
consideration that would otherwise be payable by the Offeror to
Shareholders who elect to receive cash under the Cash
Alternative in respect of their Shares to be taken up on such
Take-Up Date, together with the U.S.$0.05 in cash per Share to
be paid along with Barrick Common Shares to Shareholders who
elected (or are deemed to elect) the Share Alternative in
respect of their Shares to be taken up on such Take-Up Date,
exceeds the Maximum Take-Up Date Cash Consideration, the amount
of cash consideration available to those Shareholders who have
so elected the Cash Alternative will be allocated pro rata (on a
per share basis) among such Shareholders, as set forth in
Section&nbsp;1 of the Offer, &#147;The Offer&#148;.</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>An election (or deemed election) as to the consideration to
be received by a Shareholder made in this Notice of Guaranteed
Delivery shall supersede any election made in the Letter of
Transmittal.</B>
</DIV>
</DIV>

<P align="center" style="font-size: 10pt;">5

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; ">

<TR style="font-size: 1pt;">
    <TD width="50%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="47%">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Signature(s) of Shareholder(s)</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Address(es)</B></TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Name (please print or type)</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Date</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Zip Code/Postal Code</B></TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>

</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Daytime Telephone Number</B></TD>
</TR>

</TABLE>
</CENTER>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">

</DIV>
<DIV style="width: 100%; border: 1px solid black; padding: 6px;">

<DIV align="center" style="font-size: 10pt;">
<B>GUARANTEE OF DELIVERY</B>
</DIV>

<DIV align="center" style="font-size: 10pt;">
<B>(Not to be used for signature guarantee)</B>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
The undersigned, an Eligible Institution, guarantees delivery to
the Depositary, at its address set forth herein, of the
certificate(s) representing the Shares deposited hereby in
proper form for transfer, together with the Letter of
Transmittal or a facsimile thereof, properly completed and duly
executed, with any required signature guarantees, covering the
deposited Shares and all other documents required by the Letter
of Transmittal before 5:00&nbsp;p.m. (Toronto time) on the third
trading day on the TSX after the date on which the Expiry Time
occurs.
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
Failure to comply with the foregoing could result in a financial
loss to such Eligible Institution.
</DIV>

<CENTER>
<TABLE width="100%" align="center" cellspacing="0" cellpadding="0" border="0" style="font-size: 8pt; margin-top: 18pt; ">

<TR style="font-size: 1pt;">
    <TD width="71%">&nbsp;</TD>
    <TD width="3%">&nbsp;</TD>
    <TD width="26%">&nbsp;</TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Name of Firm</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Authorized&nbsp;Signature</B></TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Address of Firm</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Name (please print or type)</B></TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Title</B></TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    &nbsp;</DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Zip Code/Postal Code</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD align="center" valign="top">
    <B>Date</B></TD>
</TR>

<TR>
    <TD colspan="3">&nbsp;</TD>
</TR>

<TR valign="bottom" style="font-size: 1px">
    <TD align="left" style="border-top: 1pt solid #000000;">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>

</TR>

<TR>
    <TD align="center" valign="top">
    <DIV style="margin-left: 10px; text-indent: -10px">
    <B>Area Code and Telephone Number</B></DIV>
    </TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
</TR>

</TABLE>
</CENTER>
</DIV>

<DIV align="left" style="font-size: 10pt; margin-top: 12pt; margin-left: 0; margin-right: 0; margin-bottom: 0; color: #000000; background: #ffffff;">
<B>DO NOT SEND CERTIFICATES REPRESENTING PLACER DOME COMMON
SHARES OR SRP RIGHTS WITH THIS FORM. SUCH CERTIFICATES SHOULD BE
SENT WITH YOUR LETTER OF TRANSMITTAL.</B>
</DIV>

<P align="center" style="font-size: 10pt;">6
</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.1
<SEQUENCE>5
<FILENAME>t18587fexv7w1.txt
<DESCRIPTION>EXHIBIT 7.1
<TEXT>
<PAGE>

                             [Davies Letterhead]


November 10, 2005



Barrick Gold Corporation
BCE Place, Suite 3700
161 Bay Street
Toronto, ON M5J 2S1

Ladies and Gentlemen:

Canadian Federal Income Tax Considerations

We have acted as counsel to Barrick Gold Corporation, an Ontario corporation
("Barrick"), in connection with the Offer to the shareholders of Placer Dome
Inc. ("Placer Dome") for all the outstanding shares of Placer Dome as set forth
in the Offer dated on or about November 10, 2005 (the "Offer") and the Offering
Circular dated on or about November 10, 2005 (the "Offering Circular"). All
capitalized terms used and not otherwise defined herein shall have the meanings
provided in the Offer and Offering Circular.

For purposes of this opinion, we have reviewed the Offer and Offering Circular
and such other documents and matters of law and fact as we have considered
necessary or appropriate, and we have assumed, with your consent, that the Offer
will be completed in the manner set forth in the Registration Statement on Form
F-10 of Barrick to which this opinion is filed as an exhibit (the "Registration
Statement"), including the Offering Circular contained therein.

On the basis of the foregoing, and our consideration of such other matters of
fact and law as we have deemed necessary or appropriate, we hereby confirm our
opinion as set forth under the heading "Canadian Federal Income Tax
Considerations" in the Offering Circular subject to the limitations set forth
therein.

This opinion is limited to the federal income tax laws of Canada and does not
purport to discuss the consequences or effectiveness of the Offer under any
other laws.

We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the reference to us under the heading "Canadian
Federal Income Tax Considerations" in the Offering Circular. In giving such
consent, we do not thereby admit that we are in the category of persons whose
consent is required under Section 7 of the Securities Act of 1933.

Yours very truly,



/s/ Davies Ward Phillips & Vineberg LLP

DAVIES WARD PHILLIPS & VINEBERG LLP
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.2
<SEQUENCE>6
<FILENAME>t18587fexv7w2.txt
<DESCRIPTION>EXHIBIT 7.2
<TEXT>
<PAGE>
November 10, 2005




Barrick Gold Corporation
BCE Place, Suite 3700
161 Bay Street
Toronto, Ontario M5J 2S1


RE:  United States Federal Income Tax Considerations

Ladies and Gentlemen:

We have acted as counsel to Barrick Gold Corporation, an Ontario corporation
("Barrick"), in connection with the offer to the shareholders of Placer Dome
Inc. ("Placer Dome") for all the outstanding shares of Placer Dome as set forth
in the Offer dated on or about 10 November 2005 (the "Offer") and the Offering
Circular dated on or about 10 November 2005 (the "Offering Circular"). All
capitalized terms used and not otherwise defined herein shall have the meanings
provided in the Offer and Offering Circular.

For purposes of this opinion, we have reviewed the Offer and Offering Circular
and such other documents and matters of law and fact as we have considered
necessary or appropriate, and we have assumed, with your consent, that the Offer
will be completed in the manner set forth in the Registration Statement on Form
F-10 of Barrick to which this opinion is filed as an exhibit (the "Registration
Statement"), including the Offering Circular contained therein.

On the basis of the foregoing, and our consideration of such other matters of
fact and law as we have deemed necessary or appropriate, we hereby confirm our
opinion as set forth under the heading "United States Federal Income Tax
Considerations" in the Offering Circular subject to the limitations set forth
therein.

This opinion is limited to the federal income tax laws of the United States and
does not purport to discuss the consequences or effectiveness of the Offer under
any other laws.

We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the reference to us under the heading "United
States Federal Income

<PAGE>

Page 2

Tax Considerations" in the Offering Circular. In giving such consent, we do not
thereby admit that we are in the category of persons whose consent is required
under Section 7 of the Securities Act of 1933.



Very truly yours,




/s/ Davies Ward Phillips & Vineberg LLP

Davies Ward Phillips & Vineberg LLP
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.3
<SEQUENCE>7
<FILENAME>t18587fexv7w3.txt
<DESCRIPTION>EXHIBIT 7.3
<TEXT>
<PAGE>


               [LETTERHEAD OF GREENWOODS & FREEHILLS PTY LIMITED]

10 November, 2005



The Directors
Barrick Gold Corporation
South Tower, Suite 3700
161 Bay Street
Toronto, ON M5J 2S1
CANADA


Dear Sirs:


AUSTRALIAN FEDERAL INCOME TAX CONSIDERATIONS

We have acted as Australian tax advisers to Barrick Gold Corporation, an Ontario
corporation ("Barrick"), in connection with the Offer to the shareholders of
Placer Dome Inc. ("Placer Dome") for all the outstanding shares of Placer Dome
as set forth in the Offer dated on or about 10 November 2005 (the "Offer") and
the Offering Circular dated on or about 10 November 2005 (the "Offering
Circular"). All capitalized terms used and not otherwise defined herein shall
have the meanings provided in the Offer and Offering Circular.

For purposes of this opinion, we have reviewed the Offering Circular and such
other documents and matters of law and fact as we have considered necessary or
appropriate, and we have assumed, with your consent, that the Offer will be
completed in the manner set forth in the Registration Statement on Form F-10 of
Barrick to which this opinion is filed as an exhibit (the "Registration
Statement"), including the Offering Circular contained therein.

On the basis of the foregoing, and our consideration of such other matters of
fact and law as we have deemed necessary or appropriate, we hereby confirm our
opinion as set forth under the heading "Australian Federal Income Tax
Considerations" in the Offering Circular subject to the limitations set forth
therein.

This opinion is limited to the federal income tax laws of Australia and does not
purport to discuss the consequences or effectiveness of the Offer under any
other laws.

We hereby consent to the filing of this opinion as an exhibit to the
Registration Statement and to the reference to us under the heading "Australian
Federal


<PAGE>

Page 2



Income Tax Considerations' in the Offering Circular. In giving such consent, we
do not thereby admit that we are in the category of persons whose consent is
required under Section 7 of the Securities Act of 1933.


Yours very truly,



/s/ Greenwoods & Freehills PTY Limited

per: /s/ Richard Hendriks
     ---------------------------------
         Director



</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-7.4
<SEQUENCE>8
<FILENAME>t18587fexv7w4.txt
<DESCRIPTION>EXHIBIT 7.4
<TEXT>
<PAGE>

[PRICEWATERHOUSECOOPERS LLP LETTERHEAD]

                                                   PRICEWATERHOUSECOOPERS LLP
                                                   CHARTERED ACCOUNTANTS
                                                   PO Box 82
                                                   Royal Trust Tower, Suite 3000
                                                   Toronto Dominion Centre
                                                   Toronto, Ontario
                                                   Canada M5K 1G8
                                                   Telephone +1 416 863 1133
                                                   Facsimile +1 416 365 8215




CONSENT OF INDEPENDENT ACCOUNTANTS


We make reference to the Registration Statement on Form F-10 to be filed with
the United States Securities and Exchange Commission on November 10, 2005. We
hereby consent to the incorporation by reference therein of our report dated
March 15, 2005 on the consolidated balance sheets of Barrick Gold Corporation as
at December 31, 2004 and 2003 and the consolidated statements of income, cash
flows and shareholders' equity and comprehensive income for each of the years in
the three year period ended December 31, 2004 prepared in accordance with US
generally accepted accounting principles which appear in Barrick Gold
Corporation's 2004 Annual Report.



(SIGNED) "PRICEWATERHOUSECOOPERS LLP"


Chartered Accountants
Toronto, Ontario
November 10, 2005





PricewaterhouseCoopers refers to the Canadian firm of PricewaterhouseCoopers LLP
and the other member firms of PricewaterhouseCoopers International Limited, each
of which is a separate and independent legal entity.

</TEXT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
