Royal Gold Buys Non-Core Royalties from Barrick

On October 1, 2008, Barrick Gold Corporation completed the sale of certain non-core royalties to Royal Gold, Inc. in exchange for approximately US$150 million in cash and a significant reduction of royalties otherwise payable to Royal Gold on Barrick's 100 per cent-owned Cortez property located in Nevada. The royalty portfolio sold to Royal Gold consisted of royalties on 72 properties located in North America, Australia, Chile and Guinea.

Royal Gold was represented in-house by Bruce Kirchhoff, vice president and general counsel, and in the United States by Paul Hilton and Keith Olivia of Hogan & Hartson LLP. Royal Gold was represented in Canada by a team from McCarthy Tétrault LLP, including Rob Miller, Tony Knox, Jean-Philippe Buteau and Adam Wanke (mining and business law); Jamie Orzech (real property); Mira Gauvin (environmental); TJ Kang (tax) and Robert Sewell, QC (litigation). Each of Barrick and Royal Gold was also represented by other external legal counsel located in jurisdictions around the world.

Barrick was represented in-house in Canada by Brad Doores, vice president and assistant general counsel, and Jennifer Milich, corporate counsel; in the United States by Edward Grandy, assistant regional general counsel; in Australia by Katrina White, regional general counsel; and in Chile by Laura Emery, legal manager, Chile. Barrick was also represented by a team from Davies Ward Phillips & Vineberg LLP that included Lisa Damiani, Jennifer Longhurst and Michael Rapps (corporate and securities) and Geoffrey Turner and Brent Pidborochynski (tax). In the United States, Barrick was represented by Stephen Hull and Jacob Schipaanboord of Parsons Behle & Latimer.