Acacia Mining : Update on Barrick Gold Corporation’s discussions with the Government of Tanzania

25 Jun 2018

Acacia Mining plc (the 'Company') notes the announcement on Sunday 24 June 2018 made by Barrick Gold Corporation ('Barrick'), providing an update on Barrick's discussions with the Government of Tanzania ('GoT').

The Company notes Barrick's statement that the discussions between Barrick and the GoT are constructive, and that progress has been made on the drafting of definitive agreements necessary for the implementation of the proposed framework agreed between Barrick and the GoT in October 2017.

The Company has been supporting Barrick in its discussions with the GoT, but has not been directly involved in those discussions to date. Any proposal received by the Company in the future that might be agreed in principle between Barrick and the GoT as a result of those discussions will be subject to review by the Independent Committee of the Acacia Board of Directors.

The Company further notes from the statement that Barrick is not providing a timetable for the completion of Barrick's discussions with the GoT at this time, in order to allow its process to continue in an orderly manner and without an arbitrary deadline.

The Company will continue to engage with Barrick to seek to understand Barrick's expectations for the future conduct and a timetable for the completion of its discussions with the GoT.

Further updates will be provided by the Company in due course.