Offer Update

    FOR:  BARRICK GOLD CORPORATION

NYSE, TSX SYMBOL:  ABX
LSE SYMBOL:  BGD

November 10, 2006

Barrick Extends Bid for Pioneer

TORONTO, ONTARIO--(CCNMatthews - Nov. 10, 2006) - Barrick Gold Corporation
(NYSE:ABX)(TSX:ABX)(LSE:BGD) announces that it has extended its offer to acquire all of the
outstanding common shares of Pioneer Metals Corporation for Cdn$1.00 cash per share to 6:00 p.m.
(Vancouver time) on November 30, 2006. To date, Barrick has acquired approximately 59.1 million shares
of Pioneer.

Copies of the Circular for Pioneer Metals Corporation are available on Barrick's website at
www.barrick.com or from the Canadian System for Electronic Document Analysis and Retrieval at
www.sedar.com.

Barrick's vision is to be the world's best gold company by finding, acquiring, developing and
producing quality reserves in a safe, profitable and socially responsible manner.


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FOR FURTHER INFORMATION PLEASE CONTACT:

INVESTOR CONTACTS:
Barrick Gold Corporation
James Mavor
Vice President, Investor Relations
[phone]
Email: [e-mail]

OR

Barrick Gold Corporation
Mary Ellen Thorburn
Director, Investor Relations
[phone]
Email: [e-mail]

OR

MEDIA CONTACT:
Vincent Borg
Senior Vice President, Corporate Communications
[phone]
Email: [e-mail]

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Barrick Gold Corporation