Independent Assurance Statement

Bureau Veritas North America was engaged to provide independent external assurance to the stakeholders of Barrick Gold Corporation over its 2010 Responsibility Report and also assess Barrick’s progress on corporate responsibility issues.

Building on the previous year, the assurance process was designed to further our understanding of how Barrick identifies its material risks and emerging issues in a changing environment, and to assess Barrick’s implementation of, and performance against the ICMM Sustainable Development Principles, Subject Matters and Position Statements.

Objectives of the Assurance Process

Provide reasonable assurance over the stated content of the 2010 Responsibility Report including representations on the Barrick website;
Provide impartial commentary on Barrick’s alignment with ICMM Sustainable Development Principles, Position Statements and Subject Matters;
Acknowledge improvements from previous reporting years;
Propose recommendations for future development.

Barrick recognizes the need for a robust, transparent assurance process to ensure continued credibility with stakeholders and to act as a tool to drive continual performance improvement. Therefore, in addition to our commentary on the reporting processes, we provided further recommendations based on this period’s assurance in a separate detailed report to the management of Barrick.

Scope and Methodology

A review of relevant activities undertaken by Barrick over the reporting period January 1, 2010 through December 31, 2010;
A review of information about Barrick’s performance data, case studies and the underlying management systems for relevant information and data;
A review of disclosures reported under the GRI G3 Sustainability Reporting Guidelines;
Observations to assess alignment with ICMM Sustainable Development Principles, Subject Matters and Position Statements;
Interviews with internal staff and external stakeholders who have relevant input or opinions about Barrick’s performance during the reporting period.

To conduct the assurance, we undertook the following:

Source verification of performance data and factual information contained within the 2010 Responsibility Report and the online information at the Barrick website;
Interviews and follow-up communication with management staff from Barrick corporate offices in Toronto and Salt Lake City, and with regional management staff;
Visits to five operating mines, including North Mara and Buzwagi in Tanzania, Goldstrike in Elko, Nevada, Lagunas Norte in Peru and Porgera in Papua New Guinea;
Interviews with numerous local stakeholders at each visited site;
Review of processes for identification and collation of relevant information, report content and performance data from global operations.

Limitations and Exclusions:

Excluded from the scope of our work is information relating to:

Activities outside the defined reporting period and scope;
Statements of commitment to, or intention to undertake action in the future;
Statements of position, opinion, belief and/or aspiration;
Content that presents the opinions of external parties;
Financial data audited by another 3rd party.

This independent statement should not be relied upon to detect all errors, omissions or misstatements that may exist. It represents our professional judgment based on the broad sample of interviews, observations and data.

Conclusions

Based on the work we performed, it is our opinion that:

The 2010 Responsibility Report is accurate, reliable, free from material mistakes or misstatements and is clearly presented and understandable.
The report is a fair representation of Barrick’s performance over the reporting period and provides readers with a balanced perspective of its activities and material issues.
The report advances Barrick’s ongoing public communication about its operations, impacts, and programs for corporate responsibility.
The report identifies and focuses on key material issues, based on the implementation of a comprehensive risk assessment process.
The Barrick website includes updated responses to some of the key challenges Barrick faces, providing readers with continued understanding and context.

Global Reporting Initiative (GRI) G3 Sustainability Reporting Guidelines

It is our opinion the 2010 Responsibility Report has been prepared in accordance with the GRI Reporting Framework, including appropriate consideration of the Reporting Principles and necessary indicators to meet the requirements of GRI Application Level A+.

ICMM Sustainable Development Framework

It is our opinion that Barrick continues to align its operations and activities with the ICMM Sustainable Development Principles. We observed evidence to support the conclusion that the five ICMM Subject Matters have been substantially addressed.

Observed Improvements

In 2010 Barrick implemented a formal and comprehensive High Level Risk Assessment process across all its operations. The result is that material issues at all levels have been fully documented and are discussed in the 2010 Responsibility Report.
Barrick is establishing a Corporate Social Responsibility (CSR) Advisory Board and has appointed an independent member with a background in CSR to its Board of Directors.
Barrick subscribed to the Voluntary Principles on Security and Human Rights.
The Barrick website includes updated information about material issues, and the company is demonstrating more humility, accountability and transparency.
Corporate stakeholder outreach has been strengthened with respect to corporate responsibility, creating better transparency and more direct engagement with stakeholders.
Community relations efforts have expanded at some sites and are more proactive.
Data collection and reporting processes are more standardized and reliable.
Formal grievance procedures have been implemented at high-risk sites throughout the company.

Recommendations

Site level stakeholder communications could be improved to include more information about material issues, community support, and how Barrick uses stakeholder feedback in the planning, development and operation of mining activities.
The Biodiversity Standard has been developed but the implementation is still in the early stages at some mines. Barrick should consider adding biodiversity experts to its corporate and regional staff and at mines where there is greater need for this expertise.
Increase the visibility and value of stakeholder input to the risk assessment process at all levels.
Increase transparency for material issues in African Barrick Gold (ABG).

Statement by Bureau Veritas of Independence, Impartiality and Competence

Bureau Veritas is an independent professional services company that specializes in quality, health, safety, social and environmental management advice and compliance with over 180 years history in providing independent assurance services and an annual turnover in 2010 of EUR 3.1 billion.

Bureau Veritas has implemented a Code of Ethics across its business which ensures that all our staff maintains high standards in their day to day business activities. We are particularly vigilant in the prevention of conflicts of interest.

Bureau Veritas has no other commercial contracts with Barrick. Our assurance team does not have any involvement in any other projects with Barrick outside those of an independent assurance scope and we do not consider there to be a conflict between the other services provided by Bureau Veritas and that of our assurance team.

Our assurance team completing the work for Barrick has extensive knowledge of conducting assurance over environmental, social, health, safety and ethical information and systems, and through its combined experience in this field, an excellent understanding of good practice in corporate responsibility reporting and assurance.

Bureau Veritas North America
April 2011