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LIBEL PROCEEDINGS NEWS Barrick Files $200M Suit

TORONTO BARRICK GOLD has begun libel proceedings in the Ontario Superior Court of Justice against BLANCHARD AND C...


TORONTO BARRICK GOLD has begun libel proceedings in the Ontario Superior Court of Justice against BLANCHARD AND CO. The move arises from what Barrick calls a "series of false and defamatory statements" published by Blanchard and its CEO, Donald W. Doyle, Jr., since mid-December 2002. Basically, Blanchard accused Barrick of conspiring to lower gold prices since 1987.

Barrick seeks damages in the amount of $100 million; aggravated, exemplary and punitive damages in the amount of $100 million; a permanent injunction restraining Blanchard from repeating, disseminating, publishing or causing to be re-published the defamatory statements; and a mandatory injunction requiring Blanchard to remove such statements from its web site and other locations on the Internet.

"We value highly our reputation for carrying on business in a proper, ethical and lawful manner and will not tolerate the dissemination of false statements that are harmful to our reputation, business interests and stakeholdersby Blanchard, Doyle or others," said Barrick president and CEO Greg Wilkins.

Barrick investors with questions should contact Richard Young at 416-307-7431 or ryoung@barrick.com.


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