Project Financing for Bulyanhulu CIL Expansion

AFRICAN BARRICK GOLD PLC - Project Financing for Bulyanhulu CIL Expansion

PR Newswire

London, January 21

22nd January 2013

African Barrick Gold plc (the "Company" or "ABG")

ABG is pleased to announce that it has concluded negotiations with a syndicateof commercial banks, led by Standard Bank, for the provision of an exportcredit backed term loan facility ("Facility") for the amount of US$142 million.The Facility has been put in place to fund the bulk of the costs of theconstruction of one of our key growth projects, a new Carbon in Leach circuitat the process plant at Bulyanhulu ("Project"). The Facility is secured uponthe Project, has a term of seven years and when drawn the spread over Liborwill be 250 basis points.

Commenting on the financing, ABG CEO, Greg Hawkins, said: "The debt financingof the Bulyanhulu Process Plant Expansion is a clear example of the focus wehave placed on efficient capital allocation. Whilst we have sufficient cash onthe balance sheet to fund the expansion, we have decided to utilise a costeffective form of project financing to ensure we maintain maximum flexibilityas we look to drive improved returns from our asset base.

ENQUIRIES

For further information contact:

African Barrick Gold plc +44 (0)20 7129 7150Andrew Wray, Head of Corporate Development & Investor RelationsGiles Blackham, Investor Relations Manager