FOR:  BARRICK GOLD CORPORATION
 
TSX, NYSE, LSE, Swiss, PARIS SYMBOL:  ABX
 
September 23, 2003
 
Barrick Unveils New Organizational Design
 
TORONTO, ONTARIO--
 
Announces key personnel changes; Kinver to become COO
 
Barrick Gold Corporation today unveiled a new organizational design and announced several key appointments, including
the appointment of Peter J. Kinver as Chief Operating Officer, effective January 1, 2004. Reflecting Barrick's growth
into a global company in recent years, the new organization is designed to streamline reporting at the corporate level
and increase accountability and responsibility at the regional level, with the creation of three regional business
units.
 
"Our aim is to put a structure in place that allows us to manage the Company more efficiently toward our ultimate goal:
sustained earnings growth," said President and CEO Greg Wilkins. "Over the past few years, through growth and
acquisitions, Barrick has made the transition into a global company, with major mines and development projects on four
continents in seven countries with over 7,000 employees. Running a global company requires best practices in
professional management and organization."
 
The New Design
 
The new organizational design has three elements at its core:
 
Consolidating life-of-mine accountability under the COO. Under the new design, Company managers responsible for the
full range of life-of-mine activities -- Development, Operations and Closure -- will report directly to the Chief
Operating Officer. This approach streamlines reporting at corporate office and ensures that decisions on development
can be integrated with operating decisions, which, in turn, can be integrated with closure decisions.
 
Establishing regional economic business units. The new design calls for the creation of three regional business units:
North America, South America and Australia/Africa. These business units should create a catalyst for cost management,
expanding opportunities to exploit regional synergies in terms of capital, operating and other costs. 
 
Building a corporate center that adds value to the global enterprise. While the regional business units create value,
the role of corporate center is to add value, for example, by sharing expertise and best practices to help the regions
be successful. "Our task at the corporate level is to set the strategic direction and provide the resources - both
financial and personnel -- that add value and drive future growth," said Mr. Wilkins.
 
Peter Kinver to become COO; John Carrington to focus on integration
 
The appointment of Peter J. Kinver as Chief Operating Officer, effective Jan. 1, 2004 is part of Barrick's on-going
succession planning. Mr. Kinver will succeed John Carrington, who will remain Vice Chairman of the Company. Mr. Kinver
is well-qualified to take over the COO position, having worked in senior management positions at major international
mining companies, with both surface and underground operations, during a 27-year career. Most recently, he was
Divisional Director, Western Division for Anglo American Platinum plc in South Africa. "Peter brings leadership,
technical and management skills that will enable a smooth transition," said Mr. Wilkins. John Carrington will champion
implementation of the new organizational design, ensuring the integration of development, operating and closure
activities under the COO. Mr. Carrington will also focus on strategic operational issues, including Continuous
Improvement programs throughout the Company.
 
Senior Appointments
 
Mr. Wilkins also announced several other personnel appointments. "As I said when I came back to Barrick, a key part of
our challenge is putting the right people in the right places, and today we've made further progress in doing just
that."
 
- Greg Lang, currently Vice President, Australian Operations, will become VP, North America, where five producing
properties are located, including the Goldstrike Property and Round Mountain in Nevada; Eskay Creek in British
Columbia; and Holt-McDermott and the Hemlo joint venture in Ontario.
 
- Steve Orr, currently Vice President responsible for several North American operations, was named Vice President,
Australia and Africa, where five operations in total are located, including the Kalgoorlie joint venture in Australia
and the Bulyanhulu Mine in Tanzania.
 
- Igor Gonzales, currently Vice President and General Manager of Pierina Mine, will become Vice President/Peru,
overseeing the Pierina Mine, as well as the Alto Chicama project.
 
- Ray Threlkeld will be VP/Chile and Argentina, where he is currently Vice President/Project Development, overseeing
the development of the Veladero and Pascua-Lama projects. The appointment reflects the current significance of the
projects, which, in time, will be part of the South American business unit (including Peru).
 
- The corporate office will be strengthened by the appointment of Rene Marion as Vice-President, Technical Services,
with responsibility for providing technical support to the regions in mining, processing and maintenance; and John
Turney as Vice-President, Capital Projects, with responsibility for providing support in project management, timetables
and controls.
 
The organizational changes and the appointments are expected to be effective January 1, 2004. Commenting on the
changes, Wilkins noted: "We have been focused on transforming Barrick into a stronger global competitor, building on
our professional management strengths, getting the right organization in place. We think this new design fits our
global realities -- and our vision of building Barrick into a global industry leader -- allowing us to be more
efficient, more effective, and with a management structure that enables us to better execute our strategy."
 
Barrick is one of the world's leading gold producers, with operations and development projects on four continents, one
of the largest gold reserves, at 87 million ounces, and the industry's only A-rated balance sheet. Barrick's shares are
traded under the 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
(416) 307-7477
(416) 861-1509 (FAX)
media@barrick.com