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Barrick Gold Corporation: Barrick Extends Bid for Pioneer

Fri, 20 Oct 2006 5:06:00 PDT

TORONTO, ONTARIO -- (MARKET WIRE) -- 10/20/2006 -- Barrick Gold Corporation (NYSE: ABX)(TSX: ABX)(LSE: BGD)(SWX: ABX) announces that it has extended its offer to acquire all of the outstanding common shares of Pioneer Metals Corporation for Cdn$1.00 in cash per share to 6:00 p.m. (Vancouver time) on November 9, 2006. To date, Barrick has acquired approximately 58.6 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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