Barrick Acquires Additional 40% Interest in Cortez Property in Nevada

The acquisition will increase Barrick's share of proven and probable reserves by 4.6 million ounces to 11.5 million ounces and measured and indicated mineral resources by 1.4 million ounces to 3.5 million ounces.

When the Cortez Hills project is commissioned, the Cortez property is expected to become a significant contributor to Barrick's quality Nevada production base, with average annual production between 950,000 - 1,000,000 ounces of gold at total cash costs of $280-$290 per ounce in the first full five years of production.

Barrick Acquires Additional 40% Interest in Cortez Property in Nevada; Cortez Expected to Become a Million-Ounce, Low-Cost Producer: Financial News - Yahoo! Finance