Barrick Mining Challenges Mali Government's Attempt to Impose Provisional Administration At Loulo-Gounkoto, Tribunal Decision Expected June 2

Barrick Mining Corporation (NYSE:B)(TSX:ABX) – A ruling by the President of the Bamako Commercial Tribunal following submissions made on May 22 by Barrick's Loulo and Gounkoto mines opposing the Malian government's request to place the mining complex under provisional administration, is expected on June 2.

On May 8, the government formally submitted its request to the court seeking to impose provisional administration over the site. Barrick believes there is no basis — either in law or in practice — for the day-to-day operations at Loulo-Gounkoto to be handed over to a court appointed interim administrator. The move follows a preliminary hearing on May 15 during which the mines were granted the opportunity to formally respond.

This latest escalation by the Malian government follows the continued unlawful detention of several Barrick employees — now held for over five months — and the ongoing blockage of gold exports from the complex. Despite the government's actions, including the blocking of gold exports and the seizure of stockpiled production, Barrick has maintained support for its employees and contractors. Since operations were reluctantly suspended, the company has continued to pay wages and support the operations on an ongoing monthly basis.

The attempt to interfere with Loulo-Gounkoto's operations is without precedent or lawful justification. It disregards Barrick's rights under both Malian law and binding agreements, and it is inconsistent with the principles of due process and mutual respect that should underpin partnerships between governments and long-term investors.