ACA.L Regulatory News (ACA)

15 November 2013 African Barrick Gold plc (the "Company" or "ABG") Agreement to transfer Tulawaka ABG today announces it is has reached an agreement with STAMICO, the TanzanianState Mining Corporation, whereby STAMICO will acquire the Tulawaka Gold Mine("Tulawaka") and certain exploration licenses surrounding Tulawaka forconsideration of US$4.5 million and the grant of a 2% net smelter royalty onfuture production in excess of 500,000 ounces, capped at US$500,000. As part of the agreement, STAMICO will take ownership and management of therehabilitation fund established as part of the closure plan for the mine, inreturn for the assumption of all remaining past and future closure andrehabilitation liabilities for Tulawaka, and will indemnify the other partiesto the agreement in relation to these liabilities. This will result in a cashpayment by ABG to STAMICO of the balance of the rehabilitation fund, whichcurrently stands at US$17.6 million, less the transaction consideration oncompletion. Tulawaka is 100% owned by the Tulawaka Joint Venture, in which ABG holds a 70%economic interest through a wholly owned subsidiary, with MDN Inc holding theremaining 30% of the Joint Venture. Production at Tulawaka ceased in Q2 2013. The transaction, which has been approved by the Board of ABG and itssubsidiaries and STAMICO, is subject to the satisfaction of regulatoryapprovals before completion. Brad Gordon, ABG's Chief Executive Officer, said, "Tulawaka was a highlysuccessful mine for African Barrick Gold and this transaction provides STAMICOthe opportunity to further develop the domestic Tanzanian mining industry." ENQUIRIES For further information contact: African Barrick Gold plc +44 20 7129 7150Andrew Wray, Chief Financial OfficerGiles Blackham, Investor Relations Manager Bell Pottinger +44 207 861 3800Charles VivianDaniel Thöle About ABG ABG is Tanzania's largest gold producer and one of the five largest goldproducers in Africa. We have three producing mines, all located in NorthwestTanzania, and several exploration projects at various stages of development inTanzania and Kenya. We have a high-quality asset base, solid growthopportunities and a clear strategy of optimising, expanding and growing ourbusiness. Maintaining our licence to operate through acting responsibly in relation toour people, the environment and the communities in which we operate is centralto achieving our objectives. ABG is a UK public company with its headquarters in London. We are listed onthe Main Market of the London Stock Exchange under the symbol ABG and have asecondary listing on the Dar es Salaam Stock Exchange. Historically and prior to our initial public offering (IPO), our operationscomprised the Tanzanian gold mining business of Barrick Gold Corporation, ourmajority shareholder. ABG reports in US dollars in accordance with IFRS asadopted by the European Union, unless otherwise stated in this announcement.