##### 



Exhibit 1
 BARRICK GOLD CORPORATION
 BCE Place
Canada Trust Tower, Suite 3700
P.O. Box 212
161 Bay Street
Toronto, Ontario
M5J 2S1
 ANNUAL INFORMATION FORM
 For the year ended December 31, 2005
 Dated as of March 30, 2006




---



##### 



BARRICK GOLD CORPORATION
ANNUAL INFORMATION FORM
 TABLE OF CONTENTS
 GLOSSARY OF TERMS
    
    
    3REPORTING CURRENCY AND FINANCIAL INFORMATION
    
    
    8IMPORTANT NOTICE ABOUT INFORMATION IN THIS ANNUAL INFORMATION FORM
    
    
    8FORWARD-LOOKING INFORMATION
    
    
    8SCIENTIFIC AND TECHNICAL INFORMATION
    
    
    9GENERAL INFORMATION
    
    
    9Incorporation
    
    
    9Subsidiaries
    
    
    10Areas of Interest
    
    
    10General Development of the Business
    
    
    10Acquisition of Placer Dome
    
    
    12NARRATIVE DESCRIPTION OF THE BUSINESS
    
    
    16Production and Total Cash Costs
    
    
    16Gold Mineral Reserves and Mineral Resources
    
    
    17Uses of Gold
    
    
    24Sales and Refining
    
    
    24Employees  Labour Relations
    
    
    25Competition
    
    
    25PRINCIPAL REGIONS
    
    
    25North America
    
    
    25Goldstrike Property
    
    
    26Cortez Mine
    
    
    32Australia/Africa
    
    
    38South America
    
    
    38Lagunas Norte Mine
    
    
    38Veladero Mine
    
    
    42Zaldivar Mine
    
    
    47Pascua-Lama Project
    
    
    52




---



##### 



EXPLORATION, DEVELOPMENT AND BUSINESS DEVELOPMENT
    
    
    57ENVIRONMENT AND CLOSURE
    
    
    58FINANCIAL RISK-MANAGEMENT
    
    
    59LEGAL MATTERS
    
    
    63Government Controls and Regulations
    
    
    63Litigation
    
    
    64RISK FACTORS
    
    
    67MANAGEMENTS DISCUSSION AND ANALYSIS OF
FINANCIAL CONDITION AND RESULTS OF OPERATIONS
    
    
    76CONSOLIDATED FINANCIAL STATEMENTS
    
    
    76CAPITAL STRUCTURE
    
    
    76RATINGS
    
    
    79MARKET FOR SECURITIES
    
    
    81MATERIAL CONTRACTS
    
    
    82TRANSFER AGENTS AND REGISTRARS
    
    
    83DIVIDEND POLICY
    
    
    83DIRECTORS AND OFFICERS OF THE COMPANY
    
    
    83AUDIT COMMITTEE
    
    
    86Audit Committee Mandate
    
    
    86Composition of the Audit Committee
    
    
    90Participation on Other Audit Committees
    
    
    91Audit Committee Pre-Approval Policies And Procedures
    
    
    91Principal Accountant Fees And Services
    
    
    91CONTROLS AND PROCEDURES
    
    
    92ADDITIONAL INFORMATION
    
    
    93




---



##### 



GLOSSARY OF TERMS
 Assay
  Autoclave system
  Ball mill
  By-product
  Carbonaceous
  Carbon-in-leach (C-I-L)
  Concentrate
  Contained ounces
  Contango
  Crushing
  Cyanidation
  Development
  -3-




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##### 



Dilution
  Doré
  Drift
  Drilling
 Core:
 Reverse circulation:
 Conventional rotary:
 In-fill:
 Geotechnical:
 Exploration
  Flotation
  Grade
  Cut-off grade:
 Mill-head grade:
 Recovered grade:
 Reserve grade:
 -4-




---



##### 



Grinding (Milling)
  Heap leaching
  Lode
  Long-hole open stoping
  Metric conversion
 Troy ounces
    
    ×
    
    31.10348
    
    =
    
    GramsTroy ounces per
short ton
    
    ×
    
    34.28600
    
    =
    
    Grams per tonneTons
    
    ×
    
    0.90718
    
    =
    
    TonnesFeet
    
    ×
    
    0.30480
    
    =
    
    MetersMiles
    
    ×
    
    1.60930
    
    =
    
    KilometersAcres
    
    ×
    
    0.40468
    
    =
    
    HectaresFahrenheit
    
    (°F-32) × 5  ̧ 9
    
    =
    
    Celsius
 Mill
  Mineral reserve
  Mineral resource
  Mining claim
  Net profits interest royalty
  Net smelter return royalty
  Open pit mine
  Ore
  -5-




---



##### 



Orebody
  Oxide ore
  Qualified Person
  Reclamation
 .
 Reclamation and Closure Costs
  Recovery rate
  Refining
  Refractory material
  Roasting
  Shaft
  Stope
  Strike length
  Tailings
  Tailings storage facility
  -6-




---



##### 



Tons
  Total cash costs
  -7-




---



##### 



REPORTING CURRENCY AND FINANCIAL INFORMATION
   IMPORTANT NOTICE ABOUT INFORMATION IN THIS ANNUAL INFORMATION FORM
  1.
    
    information is presented as at December 31, 2005;2.
    
    information presented does not reflect the acquisition of Placer Dome by
Barrick; and3.
    
    references to Barrick, the Company, its, our and we, or related terms,
refer to Barrick and its subsidiaries prior to the Placer Dome acquisition.
 FORWARD-LOOKING INFORMATION
  -8-




---



##### 



SCIENTIFIC AND TECHNICAL INFORMATION
    GENERAL INFORMATION
 Incorporation
 Business Corporations Act
 -9-




---



##### 



Subsidiaries
  Areas of Interest
  General Development of the Business
     - 10 -




---



##### 



Mines
    
    Ownership(1)
    
    
    2005
    
    
    2004(thousands of
    
    
    (thousands ofounces)
    
    
    ounces)North AmericaGoldstrike Property, NevadaGoldstrike Open Pit
    
    
    100
    %
    
    
    1,514
    
    
    
    1,381Goldstrike Underground
    
    
    100
    %
    
    
    510
    
    
    
    562Goldstrike Property total
    
    
    
    
    
    
    2,024
    
    
    
    1,943Eskay Creek Mine, British Columbia
    
    
    100
    %
    
    
    172
    
    
    
    290Round Mountain Mine, Nevada(3)
    
    
    50
    %
    
    
    368
    
    
    
    381Hemlo Property, Ontario (3)
    
    
    50
    %
    
    
    230
    
    
    
    247Marigold Mine, Nevada (3)
    
    
    33
    %
    
    
    69
    
    
    
    47Holt-McDermott Mine, Ontario(2)
    
    
    100
    %
    
    
    
    
    
    
    552,863
    
    
    
    2,963
 - 11 -




---



##### 



Mines
    
    Ownership(1)
    
    
    2005
    
    
    2004(thousands of
    
    
    (thousands ofounces)
    
    
    ounces)South AmericaVeladero Mine, Argentina(4)
    
    
    100
    %
    
    
    56
    
    
    
    Pierina Mine, Peru
    
    
    100
    %
    
    
    628
    
    
    
    646Lagunas Norte Mine, Peru(4)
    
    
    100
    %
    
    
    550
    
    
    
    1,234
    
    
    
    646Australia/AfricaPlutonic Mine, Western Australia
    
    
    100
    %
    
    
    251
    
    
    
    305Darlot Mine, Western Australia
    
    
    100
    %
    
    
    135
    
    
    
    140Lawlers Mine, Western Australia
    
    
    100
    %
    
    
    131
    
    
    
    110Kalgoorlie Mine, Western Australia (3)
    
    
    50
    %
    
    
    417
    
    
    
    444934
    
    
    
    999Bulyanhulu Mine, Tanzania
    
    
    100
    %
    
    
    311
    
    
    
    350Tulawaka Mine, Tanzania(3)
    
    
    70
    %
    
    
    87
    
    
    
    1,332
    
    
    
    1,349Highland Equity Portion
    
    
    
    
    
    
    31
    
    
    
    Company total
    
    
    
    
    
    
    5,460
    
    
    
    4,958
 
 (1)
    
    Barricks interest is subject to royalty obligations at certain mines.(2)
    
    The Holt-McDermott mine was sold in October 2004.(3)
    
    Barricks proportional share.(4)
    
    The Veladero and Lagunas Norte mines commenced production in the second half of 2005.  Acquisition of Placer Dome
   - 12 -




---



##### 



- 13 -




---



##### 



- 14 -




---



##### 



- 15 -




---



##### 



NARRATIVE DESCRIPTION OF THE BUSINESS
 Production and Total Cash Costs
      
  -16-




---



##### 



For the years ended December 31
    
    2005
    
    
    2004Cost of sales per Barrick income statement
    
    $
    1,214
    
    
    $
    1,047Amortization at producing mines
    
    
    409
    
    
    
    425Cost of sales including amortization
    
    $
    1,623
    
    
    $
    1,472Ounces sold (thousands)
    
    
    5,320
    
    
    
    4,936Total cash costs per ounce as reported
    
    $
    227
    
    
    $
    214Amortization per ounce
    
    
    76
    
    
    
    86Cost of sales (including amortization) per ounce
    
    $
    303
    
    
    $
    300
  Gold Mineral Reserves and Mineral Resources
    -17-




---



##### 



Definitions
 mineral resource
 inferred mineral resource
 indicated mineral resource
 measured mineral resource
 -18-




---



##### 



mineral reserve
 probable mineral reserve
 proven mineral reserve
 -19-




---



##### 



Gold
Mineral Reserves (1), (3), (4), (7), (10), (11)
  PROVEN
    
    
    PROBABLE
    
    
    TOTALTons
    
    
    Grade(8)
    
    
    Ounces(9)
    
    
    Tons
    
    
    Grade(8)
    
    
    Ounces(9)
    
    
    Tons
    
    
    Grade(8)
    
    
    Ounces(9)Based on attributable ounces
    
    (000s)
    
    
    (oz/ton)
    
    

(000s)
    
    

(000s)
    
    
    (oz/ton)
    
    

(000s)
    
    

(000s)
    
    
    (oz/ton)
    
    

(000s)North AmericaOperating MinesGoldstrike Open Pit
    
    
    65,522
    
    
    
    0.119
    
    
    
    7,773
    
    
    
    48,990
    
    
    
    0.139
    
    
    
    6,830
    
    
    
    114,512
    
    
    
    0.128
    
    
    
    14,603Goldstrike Underground
    
    
    2,867
    
    
    
    0.489
    
    
    
    1,403
    
    
    
    4,452
    
    
    
    0.308
    
    
    
    1,370
    
    
    
    7,319
    
    
    
    0.379
    
    
    
    2,773Goldstrike PropertyTotal
    
    
    68,389
    
    
    
    0.134
    
    
    
    9,176
    
    
    
    53,442
    
    
    
    0.153
    
    
    
    8,200
    
    
    
    121,831
    
    
    
    0.143
    
    
    
    17,376Round
Mountain (50%)
    
    
    47,013
    
    
    
    0.022
    
    
    
    1,056
    
    
    
    90,791
    
    
    
    0.014
    
    
    
    1,282
    
    
    
    137,804
    
    
    
    0.017
    
    
    
    2,338Hemlo (50%)
    
    
    7,070
    
    
    
    0.103
    
    
    
    729
    
    
    
    3,312
    
    
    
    0.065
    
    
    
    215
    
    
    
    10,382
    
    
    
    0.091
    
    
    
    944Eskay Creek
    
    
    180
    
    
    
    0.828
    
    
    
    149
    
    
    
    88
    
    
    
    0.773
    
    
    
    68
    
    
    
    268
    
    
    
    0.810
    
    
    
    217Marigold (33%)
    
    
    17,701
    
    
    
    0.022
    
    
    
    389
    
    
    
    14,845
    
    
    
    0.020
    
    
    
    300
    
    
    
    32,546
    
    
    
    0.021
    
    
    
    689ProjectEast Archimedes
    
    
    7,363
    
    
    
    0.061
    
    
    
    446
    
    
    
    9,730
    
    
    
    0.058
    
    
    
    565
    
    
    
    17,093
    
    
    
    0.059
    
    
    
    1,011South AmericaOperating MinesVeladero
    
    
    22,139
    
    
    
    0.037
    
    
    
    812
    
    
    
    363,998
    
    
    
    0.032
    
    
    
    11,829
    
    
    
    386,137
    
    
    
    0.033
    
    
    
    12,641Lagunas Norte
    
    
    11,198
    
    
    
    0.041
    
    
    
    460
    
    
    
    215,942
    
    
    
    0.036
    
    
    
    7,806
    
    
    
    227,140
    
    
    
    0.036
    
    
    
    8,266Pierina
    
    
    24,974
    
    
    
    0.038
    
    
    
    949
    
    
    
    40,466
    
    
    
    0.024
    
    
    
    967
    
    
    
    65,440
    
    
    
    0.029
    
    
    
    1,916ProjectsPascua-Lama(12)
    
    
    43,666
    
    
    
    0.051
    
    
    
    2,218
    
    
    
    353,775
    
    
    
    0.046
    
    
    
    16,131
    
    
    
    397,441
    
    
    
    0.046
    
    
    
    18,349Australia/AfricaOperating MinesKalgoorlie (50%)
    
    
    45,518
    
    
    
    0.053
    
    
    
    2,395
    
    
    
    39,365
    
    
    
    0.063
    
    
    
    2,499
    
    
    
    84,883
    
    
    
    0.058
    
    
    
    4,894Plutonic
    
    
    235
    
    
    
    0.149
    
    
    
    35
    
    
    
    16,319
    
    
    
    0.145
    
    
    
    2,364
    
    
    
    16,554
    
    
    
    0.145
    
    
    
    2,399Lawlers
    
    
    1,505
    
    
    
    0.106
    
    
    
    159
    
    
    
    2,255
    
    
    
    0.139
    
    
    
    313
    
    
    
    3,760
    
    
    
    0.126
    
    
    
    472Darlot
    
    
    1,968
    
    
    
    0.116
    
    
    
    229
    
    
    
    4,375
    
    
    
    0.157
    
    
    
    685
    
    
    
    6,343
    
    
    
    0.144
    
    
    
    914Bulyanhulu
    
    
    1,809
    
    
    
    0.412
    
    
    
    745
    
    
    
    24,107
    
    
    
    0.414
    
    
    
    9,987
    
    
    
    25,916
    
    
    
    0.414
    
    
    
    10,732Tulawaka (70%)
    
    
    195
    
    
    
    0.195
    
    
    
    38
    
    
    
    778
    
    
    
    0.436
    
    
    
    339
    
    
    
    973
    
    
    
    0.387
    
    
    
    377ProjectsCowal
    
    
    5,191
    
    
    
    0.046
    
    
    
    238
    
    
    
    58,409
    
    
    
    0.039
    
    
    
    2,257
    
    
    
    63,600
    
    
    
    0.039
    
    
    
    2,495Buzwagi(7)
    
    
    765
    
    
    
    0.061
    
    
    
    47
    
    
    
    38,466
    
    
    
    0.061
    
    
    
    2,356
    
    
    
    39,231
    
    
    
    0.061
    
    
    
    2,403OTHER
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    363
    
    
    
    0.435
    
    
    
    158
    
    
    
    363
    
    
    
    0.435
    
    
    
    158TOTAL
    
    
    306,879
    
    
    
    0.066
    
    
    
    20,270
    
    
    
    1,330,826
    
    
    
    0.051
    
    
    
    68,321
    
    
    
    1,637,705
    
    
    
    0.054
    
    
    
    88,591
 See   Notes to the Mineral Reserves, Resources and Reconciliation Tables.
 -20-




---



##### 



Gold
Mineral Resources (1), (2), (3), (5)
  MEASURED (M)
    
    
    INDICATED (I)
    
    
    (M) + (I)
    
    
    INFERREDTons
    
    
    Grade(8)
    
    
    Ounces(9)
    
    
    Tons
    
    
    Grade(8)
    
    
    Ounces(9)
    
    
    Ounces(9)
    
    
    Tons
    
    
    Grade(8)
    
    
    Ounces(9)Based on attributable ounces
    

(000s)
    
    
    (oz/ton)
    
    

(000s)
    
    

(000s)
    
    
    (oz/ton)
    
    

(000s)
    
    

(000s)
    
    

(000s)
    
    
    (oz/ton)
    
    

(000s)North AmericaOperating MinesGoldstrike Open Pit
    
    
    12,072
    
    
    
    0.054
    
    
    
    650
    
    
    
    9,043
    
    
    
    0.045
    
    
    
    404
    
    
    
    1,054
    
    
    
    417
    
    
    
    0.089
    
    
    
    37Goldstrike Underground
    
    
    1,015
    
    
    
    0.472
    
    
    
    479
    
    
    
    2,219
    
    
    
    0.346
    
    
    
    768
    
    
    
    1,247
    
    
    
    3,034
    
    
    
    0.386
    
    
    
    1,172Goldstrike Property Total
    
    
    13,087
    
    
    
    0.086
    
    
    
    1,129
    
    
    
    11,262
    
    
    
    0.104
    
    
    
    1,172
    
    
    
    2,301
    
    
    
    3,451
    
    
    
    0.350
    
    
    
    1,209Round Mountain (50%)
    
    
    6,605
    
    
    
    0.019
    
    
    
    124
    
    
    
    11,101
    
    
    
    0.015
    
    
    
    172
    
    
    
    296
    
    
    
    17,687
    
    
    
    0.013
    
    
    
    229Hemlo (50%)
    
    
    821
    
    
    
    0.166
    
    
    
    136
    
    
    
    1,159
    
    
    
    0.141
    
    
    
    163
    
    
    
    299
    
    
    
    2,820
    
    
    
    0.143
    
    
    
    404Eskay Creek
    
    
    235
    
    
    
    0.332
    
    
    
    78
    
    
    
    441
    
    
    
    0.306
    
    
    
    135
    
    
    
    213
    
    
    
    176
    
    
    
    .0443
    
    
    
    78Marigold (33%)
    
    
    11,813
    
    
    
    0.018
    
    
    
    216
    
    
    
    8,093
    
    
    
    0.021
    
    
    
    173
    
    
    
    389
    
    
    
    54,368
    
    
    
    0.013
    
    
    
    693ProjectsEast Archimedes
    
    
    979
    
    
    
    0.063
    
    
    
    62
    
    
    
    2,070
    
    
    
    0.060
    
    
    
    125
    
    
    
    187
    
    
    
    
    
    
    
    
    
    
    
    South AmericaOperating MinesPierina
    
    
    1,057
    
    
    
    0.020
    
    
    
    21
    
    
    
    2,521
    
    
    
    0.018
    
    
    
    46
    
    
    
    67
    
    
    
    265
    
    
    
    0.023
    
    
    
    6Veladero
    
    
    663
    
    
    
    0.005
    
    
    
    3
    
    
    
    2,108
    
    
    
    0.005
    
    
    
    11
    
    
    
    14
    
    
    
    125,649
    
    
    
    0.010
    
    
    
    1,266Lagunas Norte
    
    
    822
    
    
    
    0.028
    
    
    
    23
    
    
    
    47,142
    
    
    
    0.036
    
    
    
    1,676
    
    
    
    1,699
    
    
    
    21,592
    
    
    
    0.051
    
    
    
    1,103ProjectsPascua-Lama
    
    
    7,725
    
    
    
    0.035
    
    
    
    270
    
    
    
    53,687
    
    
    
    0.038
    
    
    
    2,034
    
    
    
    2,304
    
    
    
    20,400
    
    
    
    0.049
    
    
    
    1,003Australia/AfricaOperating MinesKalgoorlie (50%)
    
    
    1,663
    
    
    
    0.058
    
    
    
    96
    
    
    
    2,602
    
    
    
    0.065
    
    
    
    169
    
    
    
    265
    
    
    
    2,009
    
    
    
    0.149
    
    
    
    300Plutonic
    
    
    274
    
    
    
    0.245
    
    
    
    67
    
    
    
    17,934
    
    
    
    0.150
    
    
    
    2,686
    
    
    
    2,753
    
    
    
    9,527
    
    
    
    0.189
    
    
    
    1,800Lawlers
    
    
    11
    
    
    
    
    
    
    
    
    
    
    
    6,235
    
    
    
    0.169
    
    
    
    1,054
    
    
    
    1,054
    
    
    
    953
    
    
    
    0.161
    
    
    
    153Darlot
    
    
    490
    
    
    
    0.116
    
    
    
    57
    
    
    
    2,956
    
    
    
    0.111
    
    
    
    328
    
    
    
    385
    
    
    
    117
    
    
    
    0.222
    
    
    
    26Bulyanhulu
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    3,776
    
    
    
    0.469
    
    
    
    1,770
    
    
    
    1,770
    
    
    
    4,601
    
    
    
    0.567
    
    
    
    2,608Tulawaka (70%)
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    110
    
    
    
    0.127
    
    
    
    14ProjectsCowal
    
    
    2,594
    
    
    
    0.038
    
    
    
    98
    
    
    
    54,614
    
    
    
    0.034
    
    
    
    1,868
    
    
    
    1,966
    
    
    
    14,534
    
    
    
    0.034
    
    
    
    488Buzwagi
    
    
    309
    
    
    
    0.042
    
    
    
    13
    
    
    
    18,411
    
    
    
    0.043
    
    
    
    796
    
    
    
    809
    
    
    
    618
    
    
    
    0.040
    
    
    
    25Other
    
    
    
    
    
    
    
    
    
    
    
    
    
    
    6,940
    
    
    
    0.113
    
    
    
    783
    
    
    
    783
    
    
    
    8,529
    
    
    
    0.112
    
    
    
    954TOTAL
    
    
    49,148
    
    
    
    0.049
    
    
    
    2,393
    
    
    
    253,052
    
    
    
    0.060
    
    
    
    15,161
    
    
    
    17,554
    
    
    
    287,406
    
    
    
    0.043
    
    
    
    12,359
 See   Notes to the Mineral Reserves, Resources and Reconciliation Tables.
 - 21 -




---



##### 



Reconciliation
of Mineral Reserves(1), (7), (10), (11)
 Mineral ReservesMineral Reserves
    
    Processed in
    
    Increase
    
    December 31,Property (000s of ounces)(9)
    
    December 31, 2004(6)
    
    2005
    
    (decrease)
    
    2005(4)North AmericaOperating MinesGoldstrike Open Pit
    
    16,188
    
    (1,767)
    
    182
    
    14,603Goldstrike Underground
    
    2,970
    
    (567)
    
    370
    
    2,773Round Mountain
    
    1,538
    
    (474)
    
    1,274
    
    2,338Marigold
    
    744
    
    (81)
    
    26
    
    689Eskay Creek
    
    513
    
    (183)
    
    (113)
    
    217Hemlo
    
    1,260
    
    (245)
    
    (71)
    
    944ProjectEast Archimedes
    
    1,011
    
    
    
    
    
    1,011South AmericaOperating MinesLagunas Norte
    
    9,123
    
    (842)
    
    (15)
    
    8,266Pierina
    
    2,508
    
    (718)
    
    126
    
    1,916Veladero
    
    12,849
    

(99)
    
    (109)
    
    12,641ProjectPascua-Lama(12)
    
    17,615
    
    
    
    734
    
    18,349Australia/AfricaOperating MinesPlutonic
    
    2,512
    
    (273)
    
    160
    
    2,399Lawlers
    
    405
    
    (168)
    
    235
    
    472Darlot
    
    1,048
    
    (142)
    
    8
    
    914Kalgoorlie (50%)
    
    5,181
    
    (489)
    
    202
    
    4,894Bulyanhulu
    
    10,596
    
    (351)
    
    487
    
    10,732Tulawaka
    
    382
    

(87)
    
    82
    
    377ProjectsCowal
    
    2,495
    
    
    
    
    
    2,495Buzwagi(7)
    
    
    
    
    
    2,403
    
    2,403OTHER
    
    118
    
    
    
    40
    
    158Total
    
    89,056
    
    (6,486)
    
    6,021
    
    88,591
 Notes to the Mineral Reserves, Resources and Reconciliation Tables
 (1)
    
    Reflects Barricks ownership share where ownership interest is less than 100%.(2)
    
    These mineral resources are in addition to mineral reserves. Mineral resources that are not
mineral reserves do not have demonstrated economic viability when calculated using mineral
reserve assumptions.(3)
    
    Mineral reserves and resources have been calculated as at December 31, 2005 and exclude
reserves and resources of Placer Dome, which was acquired by Barrick in early 2006. For -22-




---



##### 



(4)
    
    Mineral reserves have been calculated as at December 31, 2005 using an assumed gold price of
$400 (A$560), a silver price of $6.25 and exchange rates of $1.30 $Can/$US and $0.72 $US/$Aus.
Reserves at the Hemlo and Eskay Creek properties assumed a gold price of $425. Reserves at the
Hemlo property assumed an exchange rate of $1.20 $Can/$US. Reserve calculations incorporate
current and/or expected mine plans and cost levels at each property.(5)
    
    Resources as at December 31, 2005 have been estimated using varying cut-off grades, depending
on both the type of mine, its maturity and ore type at each property. Assumed gold prices of
$450 and A$625 have been used in estimating resources.(6)
    
    Mineral reserves have been calculated as at December 31, 2004 using an assumed gold price of
$375 per ounce, a silver price of $5.50 per ounce and an exchange rate of $1.45 C$/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 $1.35
C$/US$. Reserves at Round Mountain are based on pit designs consistent with a gold price of
$375 per ounce. Reserves at the Marigold property assumed a gold price of $350 per ounce.
Reserve calculations incorporate 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$.(7)
    
    Mineral reserves have been calculated in accordance with National Instrument 43-101, as
required by Canadian securities regulatory authorities. For United States reporting purposes,
Industry Guide 7 (under the Securities Exchange Act of 1934), as interpreted by Staff of the
U.S. Securities and Exchange Commission, applies different standards in order to classify
mineralization as a reserve. For U.S. reporting purposes, as at December 31, 2005, the
mineralization at the Buzwagi project was classified as mineralized material.(8)
    
    Grade represents an average, weighted by reference to tons of ore type where several recovery
processes apply.(9)
    
    Ounces estimated to be present in the tons of ore which would be mined and processed. Mill
recovery rates have not been applied in calculating the contained ounces.(10)
    
    Reserves as at December 31, 2005 include stockpile material totalling approximately 77.6
million tons, containing approximately 4.7 million ounces. Properties at which stockpile
material represents more than 5% of the reported reserves are as follows: ContainedTons
    
    
    Grade
    
    
    OuncesProperty
    
    (000s)
    
    
    (oz/ton)
    
    
    (000s)Kalgoorlie
    
    
    12,629
    
    
    
    0.033
    
    
    
    419Goldstrike
    
    
    40,347
    
    
    
    0.095
    
    
    
    3,848Round Mountain
    
    
    21,089
    
    
    
    0.014
    
    
    
    287
 (11)
    
    The metallurgical recovery applicable at each property and the cut-off grades used to
determine reserves as at December 31, 2005 are as follows:
 MetallurgicalRecovery
    
 Cut-off Grade(%)
    
    (oz/ton)OPERATING MINESGoldstrike PropertyOpen Pit
    
    
    83.0
    
    
    
    0.050-0.070Underground
    
    
    89.8
    
    
    
    0.110-0.328
 -23-




---



##### 



Metallurgical
    
    Cut-off GradeRecovery(%)
    

(oz/ton)Marigold
    
    
    68
    
    
    
    0.010Round Mountain
    
    
    69.6
    
    
    
    0.006-0.028Eskay Creek
    
    
    82.7
    
    
    
    0.890Hemlo PropertyDavid Bell
    
    
    93.0
    
    
    
    0.160-0.213Williams
    
    
    94.7
    
    
    
    0.038-0.205East Archimedes
    
    
    74.3
    
    
    
    0.011-0.088Pierina
    
    
    84.5
    
    
    
    0.010-0.015Lagunas Norte
    
    
    70.8
    
    
    
    0.007-0.027Veladero
    
    
    72.4
    
    
    
    0.017-0.022Pascua-Lama
    
    
    82.4
    
    
    
    0.025-0.094Darlot
    
    
    97.0
    
    
    
    0.058-0.116Lawlers
    
    
    95.6
    
    
    
    0.029-0.106Plutonic
    
    
    90.0
    
    
    
    0.082-0.111Kalgoorlie
    
    
    87.7
    
    
    
    0.026Cowal
    
    
    83.2
    
    
    
    0.012-0.018Bulyanhulu
    
    
    89.0
    
    
    
    0.219-0.241Tulawaka
    
    
    95.0
    
    
    
    0.036-0.047Buzwagi
    
    
    90.3
    
    
    
    0.020-0.023
 (12)
    
    Barrick is currently assessing the implications of conditions contained in the resolution
issued by Chilean regulatory authorities approving the environmental impact assessment for the
Pascua-Lama project. It is possible that, following the completion of such assessment, up to 1
million ounces of mineralization at the Pascua-Lama project may be reclassified from reserves
to mineralized material for U.S. reporting purposes.
 Uses of Gold
  Sales and Refining
  -24-




---



##### 



Employees  Labour Relations
    Competition
   PRINCIPAL REGIONS
  North America
 Operating Properties
  -25-




---



##### 



Goldstrike Property
 General Information
    Geology
  -26-




---



##### 



Processing
  Environment
   -27-




---



##### 



Exploration
    Goldstrike Open Pit Mine
  Geology
  -28-




---



##### 



Drilling and Analysis
    Royalties
  Production Information
  Year ended
    
    Year endedDecember 31, 2005
    
    December 31, 2004Tons mined (000s)
    
    129,833
    
    134,212Tons of ore processed (000s)
    
    10,097
    
    10,779Average grade processed (ounces per ton)
    
    0.175
    
    0.151Recovery rate (%)
    

85.6
    
    85.1Ounces of gold produced (000s)
    
    1,514
    
    1,381Average total cash costs per ounce1
    

$      235
    
    $      249
 
 1.
    
    For an explanation of the use of non-GAAP performance measures, refer to Narrative
Description of the Business  Production and Total Cash Costs. Goldstrike Underground Mine
  -29-




---



##### 



Geology
  Drilling and Analysis
     - 30-




---



##### 



Royalties
  Production Information
  Year ended
    
    Year endedDecember 31, 2005
    
    December 31, 2004Tons mined (000s)
    
    
    1,463
    
    
    
    1,573Tons of ore processed (000s)
    
    
    1,488
    
    
    
    1,566Average grade processed (ounces per ton)
    
    
    0.38
    
    
    
    0.40Recovery rate (%)
    
    
    89.9
    
    
    
    89.7Ounces of gold produced (000s)
    
    
    510
    
    
    
    562Average total cash costs per ounce1
    
    $
    314
    
    
    $
    255
 
 1.
    
    For an explanation of the use of non-GAAP performance measures, refer to Narrative
Description of the Business  Production and Total Cash Costs.
 - 31-




---



##### 



Cortez Mine
 Barrick acquired the Cortez mine in the Placer Dome acquisition Thus, information relating
to the Cortez mine may be subject to different risks and uncertainties than the historical
information relating to Barrick set forth in this Annual Information Form. See Risk Factors -
Inclusion of Historical Placer Dome Information in Annual Information Form.
 General Information
  - 32-




---



##### 



Geology
      - 33-




---



##### 



Reserves and Resources
  Mining and Processing
       - 34-




---



##### 



Environment
    Exploration, Drilling and Analysis
     - 35-




---



##### 



Royalties
  - 36-




---



##### 



- 37-




---



##### 



Australia/Africa
  South America
  Lagunas Norte Mine
 General Information
     - 38-




---



##### 



Geology
   Mining and Processing
   Environment
  - 39-




---



##### 



Exploration, Drilling and Analysis
  Royalties
  Financing
  - 40-




---



##### 



Production Information
  Year endedDecember 31, 20051Tons mined (000s)
    
    
    23,653Tons of ore processed (000s)
    
    
    14,269Average grade processed (ounces per ton)
    
    
    0.06Ounces of gold produced (000s)
    
    
    550Average total cash costs per ounce2
    
    $
    110
 
 1.
    
    Lagunas Norte began production in the second quarter of 2005.2.
    
    For an explanation of the use of non-GAAP performance measures, refer to Narrative
Description of the Business  Production and Total Cash Costs.  - 41-




---



##### 



Veladero Mine
 General
  - 42-




---



##### 



Geology
   - 43-




---



##### 



Mining and Processing
  Environment
    Exploration, Drilling and Analysis
  - 44-




---



##### 



Royalties
  Production Information
  -45-




---



##### 



Year endedDecember 31, 20051Tons mined (000s)
    
    
    63,514Tons of ore processed (000s)
    
    
    4,513Average grade processed (ounces per ton)
    
    
    0.021Ounces of gold produced (000s)
    
    
    56Average total cash costs per ounce2
    
    
    n/a
 
 1.
    
    Veladero completed its first gold pour in 2005.2.
    
    For an explanation of the use of non-GAAP performance measures, refer to Narrative
Description of the Business  Production and Total Cash Costs.
 Pledge of Assets
   -46-




---



##### 



Zaldivar Mine
 Barrick acquired Zaldivar in the Placer Dome acquisition Thus, information relating to
Zaldivar may be subject to different risks and uncertainties than the historical information
relating to Barrick set forth in this Annual Information Form. See Risk Factors  Inclusion of
Historical Placer Dome Information in Annual Information Form.
 General Information
   -47-




---



##### 



Geology
     -48-




---



##### 



Reserves and Resources
  Mining and Processing
      -49-




---



##### 



Environment
    Exploration, Drilling and Analysis
    Royalties
  -50-




---



##### 



-51-




---



##### 



Projects
 Pascua-Lama Project
 General
    Geology
    -52-




---



##### 



Development
     -53-




---



##### 



Environment
  Exploration, Drilling and Analysis
   -54-




---



##### 



Royalties
   -55-




---



##### 



-56-




---



##### 



EXPLORATION, DEVELOPMENT AND BUSINESS DEVELOPMENT
       -57-




---



##### 



ENVIRONMENT AND CLOSURE
        -58-




---



##### 



FINANCIAL RISK-MANAGEMENT
 Forward Sales Program
   -59-




---



##### 



- 60 -




---



##### 



- 61 -




---



##### 



Currency, Interest Rate and Commodity Hedge Programs
 
 Oversight and Control Over Risk-Management Activities
    - 62 -




---



##### 



LEGAL MATTERS
 Government Controls and Regulations
         - 63 -




---



##### 



Litigation
    - 64 -




---



##### 



- 65-




---



##### 



- 66-




---



##### 



RISK FACTORS
  Metal price volatility
   Price volatility of other commodities
  - 67-




---



##### 



Mining risks and insurance risks
   Mineral reserves and resources
     - 68-




---



##### 



Production and cost estimates
   Accounting policies
 .
 Internal controls
   - 69-




---



##### 



Exploration
  Development
   Environmental, health and safety regulations; permits
  - 70 -




---



##### 



Investment returns for defined benefit pension plans
  Foreign investments and operations
   - 71 -




---



##### 



Government regulation and changes in legislation
  Currency fluctuations
  - 72 -




---



##### 



Use of derivatives
   Interest rates and gold lease rates
  Title to properties
  - 73 -




---



##### 



Competition
  Acquisitions and integration
  Integration of Placer Dome
  Unforeseen Liabilities from Placer Dome Acquisition
  - 74 -




---



##### 



Inclusion of Historical Placer Dome Information in Annual Information Form
  Closing of the Goldcorp Transaction
  Employee relations
  Joint ventures
  Level of indebtedness
  -75-




---



##### 




    
    Barrick may need to use a large portion of its cash flow to repay principal and pay
interest on its debt, which will reduce the amount of funds available to finance its
operations and other business activities; and
    
    Barricks debt level may limit its ability to pursue other business opportunities,
borrow money for operations or capital expenditures in the future or implement its business
strategy.
  Litigation
  MANAGEMENTS DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
  CONSOLIDATED FINANCIAL STATEMENTS
  CAPITAL STRUCTURE
 Business Corporations Act
 General
  -76-




---



##### 



Common Shares
   Business
Corporations Act
 Preferred Shares
    -77-




---



##### 



-78-




---



##### 



RATINGS
  Moodys Investor
    
    Standard & Poors
    
    Dominion BondRating Agency
    
    Service
    
    Rating Services
    
    Rating ServiceBarrick (original issuer)Senior, unsecured debt
    
    Baa1
    
    A-
    
    AMunicipal bonds, due 2029(1)
    
    Aa1/VMIG1
    
    AA+/A-1+
    
    Not RatedMunicipal bonds, due 2032(1)
    
    Aa2/P-1
    
    Not Rated
    
    Not RatedPlacer Dome (original issuer)Bond, unsecured
    
    Baa1
    
    A-
    
    APreferred securities, unsecured
    
    Baa2
    
    BBB
    
    Pdf2Medium term notes, unsecured
    
    No rating
    
    No rating
    
    ACommercial paper
    
    No rating
    
    A-2
    
    R-1 (low)
 
 1

    
    Barrick, through two wholly-owned subsidiaries,
issued a total of $63 million of tax exempt, variable rate, solid
waste disposal bonds.
 -79-




---



##### 



- 80 -




---



##### 



MARKET FOR SECURITIES
  Toronto Stock Exchange
    
    
    New York Stock ExchangeShare Price Trading
    
    
    
    
    
    
    Share Price TradingRange
    
    Share Volume
    
    
    Range
    
    Share VolumeHigh
    
    Low
    
    
    
    
    
    
    High
    
    Low2005
    
    (C$ per share)
    
    (millions)
    
    
    ($ per share)
    
    (millions)January
    
    
    28.57
    
    
    
    26.54
    
    
    
    27.2
    
    
    
    
    23.97
    
    
    
    21.72
    
    
    
    28.8February
    
    
    31.38
    
    
    
    26.66
    
    
    
    28.0
    
    
    
    
    25.29
    
    
    
    21.27
    
    
    
    29.2March
    
    
    31.71
    
    
    
    28.53
    
    
    
    34.9
    
    
    
    
    26.32
    
    
    
    23.55
    
    
    
    30.3April
    
    
    29.20
    
    
    
    26.92
    
    
    
    35.0
    
    
    
    
    24.49
    
    
    
    21.51
    
    
    
    33.1May
    
    
    29.09
    
    
    
    26.80
    
    
    
    19.6
    
    
    
    
    23.34
    
    
    
    21.09
    
    
    
    26.7
 - 81 -




---



##### 



Toronto Stock Exchange
    
    
    New York Stock ExchangeShare Price Trading
    
    
    
    
    
    
    Share Price TradingRange
    
    Share Volume
    
    
    Range
    
    Share VolumeHigh
    
    Low
    
    
    
    
    
    
    High
    
    Low2005
    
    (C$ per share)
    
    (millions)
    
    
    ($ per share)
    
    (millions)June
    
    
    31.80
    
    
    
    28.09
    
    
    
    29.9
    
    
    
    
    25.90
    
    
    
    22.45
    
    
    
    32.7July
    
    
    30.70
    
    
    
    28.55
    
    
    
    24.1
    
    
    
    
    25.37
    
    
    
    23.35
    
    
    
    24.9August
    
    
    33.40
    
    
    
    30.00
    
    
    
    36.4
    
    
    
    
    27.97
    
    
    
    24.46
    
    
    
    39.9September
    
    
    35.05
    
    
    
    31.50
    
    
    
    43.1
    
    
    
    
    29.95
    
    
    
    26.68
    
    
    
    50.0October
    
    
    34.01
    
    
    
    29.23
    
    
    
    40.4
    
    
    
    
    29.12
    
    
    
    24.81
    
    
    
    47.4November
    
    
    32.83
    
    
    
    28.96
    
    
    
    51.7
    
    
    
    
    27.96
    
    
    
    24.58
    
    
    
    52.7December
    
    
    33.16
    
    
    
    30.52
    
    
    
    47.4
    
    
    
    
    28.64
    
    
    
    26.36
    
    
    
    63.2
 MATERIAL CONTRACTS
        - 82 -




---



##### 



TRANSFER AGENTS AND REGISTRARS
  DIVIDEND POLICY
  DIRECTORS AND OFFICERS OF THE COMPANY
 www.sedar.com www.sec.gov
  - 83 -




---



##### 



Executive Officers of the Company
  Name (age) and municipality of
    
    Officeresidence
    
    (date became an Officer)
    
    Principal occupations during past 5 yearsPeter Munk (78)
Toronto, Ontario
    
    Chairman and Director
(1984)
    
    Chairman of the Company; Chairman of
Trizec Properties, Inc. (real estate)
and Chairman and Chief Executive
Officer, Trizec Canada Inc. (real
estate); prior to May 2002, Chairman,
TrizecHahn Corporation (real estate).C. William D. Birchall (63)
Toronto, Ontario
    
    Vice Chairman and Director
(2005)
    
    Vice Chairman of the Company; prior to
July 2005, Chief Executive Officer of
ABX Financeco Inc., a Barrick
subsidiary; prior to January 2005,
Chairman of Barrick International Bank
Corp., a Barrick subsidiary.Gregory C. Wilkins (50)
Toronto, Ontario
    
    President and Chief
Executive Officer (2003)
and Director (1991)
    
    President and Chief Executive Officer of
the Company; prior to February 2003,
Corporate Director; prior to May 2002,
Vice-Chairman, TrizecHahn Corporation
(real estate); prior to March 2001,
President and Chief Operating Officer,
TrizecHahn Corporation.Alexander J. Davidson (54)
Toronto, Ontario
    
    Executive Vice President,
Exploration and Corporate
Development (1993)
    
    Executive Vice President, Exploration
and Corporate Development of the
Company; prior to March 2005, Executive
Vice President, Exploration of the
Company; prior to May 2003, Senior Vice
President, Exploration of the Company.Patrick J. Garver (54)
Toronto, Ontario
    
    Executive Vice President
and General Counsel
(1993)
    
    Executive Vice President and General
Counsel of the Company.
 - 84 -




---



##### 



Name (age) and municipality of
    
    Officeresidence
    
    (date became an Officer)
    
    Principal occupations during past 5 yearsPeter J. Kinver (50)
Toronto, Ontario
    
    Executive Vice President
and Chief Operating
Officer (2003)
    
    Executive Vice President and Chief
Operating Officer of the Company; prior
to February 2004, Executive Vice
President, Operations of the Company;
prior to August 2003, Divisional
Director, Western Division, Anglo
American Platinum plc (platinum mining).Jamie C. Sokalsky (48)
Toronto, Ontario
    
    Executive Vice President
and Chief Financial
Officer (1993)
    
    Executive Vice President and Chief
Financial Officer of the Company; prior
to April 2004, Senior Vice President and
Chief Financial Officer of the Company.Gregory A. Lang (51)
Sandy, Utah
    
    President, North America(2001)
    
    President, North America of the Company;
prior to September 2005, Vice President
North America Operations; prior to
February 2004, Vice President,
Australian Operations of the Company;
prior to December 2001, Vice President,
Australia, Homestake Mining Company
(gold mining).Igor Gonzales (51)
La Molina, Lima, Peru
    
    President, South America(2004)
    
    President, South America; prior to
September 2005, Vice President, Peru of
the Company; prior to February 2004,
Vice President and General Manager,
Pierina mine, of the Company.John Shipp (59)
Perth, Australia
    
    President,
Australia/Africa (2004)
    
    President, Australia/Africa; prior to
September 2005, Vice President,
Australia/Africa of the Company; prior
to September 2004, General Manager at
Kalgoorlie Consolidated Gold Mines.René L. Marion (43)
Toronto, Ontario
    
    Vice President, Russia
and Central Asia (2004)
    
    Vice President, Russia and Central Asia;
prior to December 2005, Vice President,
Technical Services of the Company; prior
to February 2004, Vice President &
General Manager, Kahama Mining of the
Company; prior to July 2003, Corporate
Head, Evaluations and Development of the
Company; prior to April 2002, Senior
Manager, Development of the Company;
prior to January 2001, Staff Mining
Engineer of the Company.
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AUDIT COMMITTEE
 Audit Committee Mandate
 Purpose
   Committee Responsibilities
   (a)
    
    retaining and terminating, and/or making recommendations to the Board of
Directors and the shareholders with respect to the retention or termination of, an
external auditing firm to conduct review engagements on a quarterly basis and an annual
audit of the Companys financial statements;(b)
    
    communicating to the external auditors that they are ultimately accountable to
the Board and the Committee as representatives of the shareholders;(c)
    
    obtaining and reviewing an annual report prepared by the external auditors
describing: the firms internal quality-control procedures; any material issues raised
by the most recent internal quality-control review, or peer review, of the firm, or by
any inquiry or investigation by governmental or professional authorities, within the
preceding five years, respecting one or more independent audits carried out by the
firm, and any steps taken to deal with any such issues;(d)
    
    evaluating the independence of the external auditor and any potential conflicts
of interest and (to assess the auditors independence) all relationships between the
external auditors and the Company, including obtaining and reviewing an annual report
prepared by the external auditors describing all relationships between the external
auditors and the Company;(e)
    
    approving, or recommending to the Board of Directors for approval, all audit
engagement fees and terms, as well as all non-audit engagements of the external
auditors prior to the commencement of the engagement;
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(f)
    
    reviewing with the external auditors the plan and scope of the quarterly review
and annual audit engagements;(g)
    
    setting hiring policies with respect to the employment of current or former
employees of the external auditors;
  (h)
    
    reviewing, discussing and recommending to the Board for approval the annual
audited financial statements and related managements discussion and analysis of
financial and operating results prior to filing with securities regulatory authorities
and delivery to shareholders;(i)
    
    reviewing and discussing with the external auditors the results of their
reviews and audit, any issues arising and managements response, including any
restrictions on the scope of the external auditors activities or requested information
and any significant disagreements with management, and resolving any disputes;(j)
    
    reviewing, discussing and approving, or recommending to the Board for approval,
the quarterly financial statements and quarterly managements discussion and analysis
of financial and operating results prior to filing with securities regulatory
authorities and delivery to shareholders;(k)
    
    reviewing and discussing with management and the external auditors the
Companys critical accounting policies and practices, material alternative accounting
treatments, significant accounting and reporting judgments, material written
communications between the external auditor and management (including management
representation letters and any schedule of unadjusted differences) and significant
adjustments resulting from the audit or review;(l)
    
    reviewing and discussing with management the Companys earnings press releases,
as well as type of financial information and earnings guidance (if any) provided to
analysts and ratings agencies;(m)
    
    reviewing and discussing such other relevant public disclosures containing
financial information as the Committee may consider necessary or appropriate;(n)
    
    reviewing and discussing with management the disclosure controls relating to
the Companys public disclosure of financial information, including information
extracted or derived from the financial statements, and periodically assess the
adequacy of such procedures;
  (o)
    
    reviewing and discussing with management, the external auditors and the head of
internal audit the effectiveness of the Companys internal controls over financial
reporting, including reviewing and discussing any significant deficiencies in the
design or operation of internal controls, and any fraud, whether or not material, that
involves management or other employees who have a significant role in the Companys
internal controls over financial reporting;(p)
    
    discussing the Companys process with respect to risk assessment (including
fraud risk), risk management and the Companys major financial risks and financial
reporting exposures, all
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as they relate to internal controls over financial reporting, and the steps management
has taken to monitor and control such risks;
 (q)
    
    reviewing and discussing with management the Companys Code of Business Conduct
and Ethics and anti-fraud program and the actions taken to monitor and enforce
compliance;(r)
    
    establishing procedures for:
 (i)
    
    the receipt, retention and treatment of complaints regarding
accounting, internal controls or auditing matters; and(ii)
    
    the confidential, anonymous submission by employees of the Company of
concerns regarding questionable accounting, internal controls or auditing matters;
  (s)
    
    reviewing and discussing with management, the external auditors and the head of
internal audit the responsibilities and effectiveness of the Companys internal audit
function, including reviewing the internal audit mandate, independence, organizational
structure, internal audit plans and adequacy of resources, receiving periodic internal
audit reports and meeting privately with the head of internal audit on a periodic
basis;(t)
    
    approving in advance the retention and dismissal of the head of internal audit;
  (u)
    
    meeting separately, periodically, with each of management, the head of internal
audit and the external auditors;(v)
    
    reporting regularly to the Board;(w)
    
    reviewing and assessing its mandate and recommending any proposed changes to
the Corporate Governance and Nominating Committee of the Board on an annual basis; and(x)
    
    evaluating the functioning of the Committee on an annual basis, including with
reference to the discharge of its mandate, with the results to be reported to the
Corporate Governance and Nominating Committee, which shall report to the Board.
 Responsibilities of the Committee Chair
  (a)
    
    working with the Chairman of the Board, the Chief Executive Officer and the
Secretary to establish the frequency of Committee meetings and the agendas for
meetings;(b)
    
    providing leadership to the Committee and presiding over Committee meetings;(c)
    
    ensuring that the Committee is properly organized and effectively discharges
its duties;
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(d)
    
    facilitating the flow of information to and from the Committee and fostering an
environment in which Committee members may ask questions and express their viewpoints;(e)
    
    reporting to the Board with respect to the significant activities of the
Committee and any recommendations of the Committee;(f)
    
    leading the Committee in annually reviewing and assessing the adequacy of its
mandate and evaluating its effectiveness in fulfilling its mandate; and(g)
    
    taking such other steps as are reasonably required to ensure that the Committee
carries out its mandate.
 Powers
  Composition
   1
 
 1

    
    For purposes of this mandate, financially literate means the ability to
read and understand a balance sheet, an income statement, a cash flow statement and the
related notes that present a breadth and level of complexity of accounting issues that are
generally comparable to the breadth and complexity of issues that can reasonably be
expected to be raised by the Companys financial statements, and accounting or related
financial management expertise means the ability to analyze and interpret a full set of
financial statements, including the related notes that present a breadth and level of
complexity of accounting issues that are generally comparable to the breadth and complexity
of issues that can reasonably be expected to be raised by the Companys financial
statements.
  Meetings
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Composition of the Audit Committee
    Howard L. Beck, 72
Toronto, Ontario, Canada
    
    Mr. Beck is a corporate director. Prior to
November 2002, Mr. Beck was the Chairman of
Wescam Inc., a company engaged in the design
and manufacturing of stabilized imaging and
transmission systems. Mr. Beck is also a
director of Citibank Canada and Trizec Canada
Inc. and a trustee of Cineplex Galaxy Trust.
Mr. Beck holds an undergraduate degree and law
degree from the University of British Columbia
and a masters degree in law from Columbia
University. He was called to the bar of
British Columbia and Ontario, and appointed
Queens Counsel in 1971.Peter A. Crossgrove, 69
Toronto, Ontario, Canada
    
    Mr. Crossgrove is a corporate director. Prior
to May 2005, Mr. Crossgrove was the Chairman of
Masonite International Corporation, a door
manufacturing company. He is also a director
of Quadra Logic Technologies Inc., Dundee
Realty Inc., Band-Ore Resources Ltd. and
Excellon Resources. Mr. Crossgrove is the
Chairman of Cancer CARE Ontario. He holds an
undergraduate degree from McGill University and
Concordia University and a masters degree in
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business administration from the University of
Western Ontario. Mr. Crossgrove is a recipient
of the Queens Jubilee Medal and an Officer of
the Order of Canada.Steven J. Shapiro, 53
Houston, Texas, USA
    
    Mr. Shapiro is Executive Vice President,
Finance and Corporate Development, and a
director of Burlington Resources, Inc., an oil
and gas exploration and production company.
Prior to April 2005, he was Executive Vice
President and Chief Financial Officer of
Burlington Resources, Inc., and prior to
January 2003, he was Senior Vice President and
Chief Financial Officer of Burlington
Resources, Inc. He serves as chairman of the
executive committee of the American Petroleum
Institutes general committee on finance. Mr.
Shapiro holds an undergraduate degree from
Union College and a masters degree in business
administration from Harvard University.
 Participation on Other Audit Committees
  Audit Committee Pre-Approval Policies And Procedures
  Principal Accountant Fees And Services
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Fees(amount in millions)
    
    2005
    
    2004Audit Fees1
    
    $
    2.9
    
    
    $
    2.3Audit-Related Fees2
    
    
    0.7
    
    
    
    0.5Tax Fees3
    
    
    0.5
    
    
    
    0.8All Other Fees4
    
    
    0.1
    
    
    
    Total
    
    $
    4.2
    
    
    $
    3.6
 
 1
    
    Audit Fees comprise professional services for the audit of Barricks annual
financial statements, review of Barricks interim financial statements, and services normally
provided in connection with Barricks statutory and regulatory filings.2
    
    Audit-Related Fees comprise amounts paid for consultations on accounting developments
and the accounting for potential corporate transactions. In 2005, Audit-Related Fees included
approximately $675,000 for Sarbanes-Oxley preparation services.3
    
    Tax Fees comprise amounts paid for tax compliance and advisory services.4
    
    In 2005, Other Fees included approximately $50,000 for non-audit related services. No
Other Fees were paid in 2004. CONTROLS AND PROCEDURES
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ADDITIONAL INFORMATION
 http://www.sedar.com http://www.sec.gov
 -93-