Holding in Company

    FOR:  BARRICK GOLD CORPORATION

TSX, Swiss, PARIS, NYSE, LSE SYMBOL:  ABX

January 28, 2004

Barrick Forms Strategic Partnership with Highland

TORONTO, ONTARIO--

All amounts in United States dollars

Barrick Gold Corporation announced today that it has agreed to a share purchase and strategic partnership with
Highland Gold Mining.

Barrick will invest cash of US $40 million and receive approximately 9.3 million common shares at a price of
235 pence per share. Combined with Barrick's previous share purchase in October 2003, Barrick will own
approximately 17% of Highland's increased share capital on or about February 3, 2004. Barrick will have the
right to nominate one director to the Board of Directors of Highland Gold and to assign personnel to Highland.

"The Highland transaction represents an important next step in the development of Barrick's strategy in Russia
- one of the most prospective gold regions anywhere in the world," said Greg Wilkins, President and Chief
Executive Officer. "Barrick and Highland have strengthened their relationship by agreeing to a strategic
partnership."

- Barrick will have the right, but not the obligation, to participate on an exclusive basis for up to 50% on
any acquisition made by Highland Gold in Russia; it extends similar rights to Highland for any acquisition made
by Barrick in certain regions in Russia, excluding Irkutsk.

- Barrick will have a right of first refusal with respect to third party investment in Highland's Mayskoye
property in the Chutotka region, Russia, and will pursue discussions with Highland on establishing a joint
venture at Mayskoye.

"With today's agreement, our two companies have developed terms that reflect our respective Russian strategies
and will help us build an even stronger relationship," said Tye Burt, Executive Director of Corporate
Development.

Barrick has the lowest cash costs among major gold producers, the only A-rated balance sheet, and operations
and development projects on four continents. It trades under the ticker symbol ABX on the Toronto, New York,
London and Swiss stock exchanges and the Paris Bourse.

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FOR FURTHER INFORMATION PLEASE CONTACT:

Barrick Gold Corporation
Vincent Borg
Vice President, Corporate Communications
[phone]
[phone] (FAX)
[e-mail]

INDUSTRY:  PCS
SUBJECT:   PRT

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BARRICK GOLD CORPORATION