Based on IFRS and expressed in US dollars. For a full explanation of results, the Financial Statements and Management Discussion & Analysis, please see the company’s website, www.barrick.com.

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (Barrick or the “company”) today reported net earnings of $0.75 billion ($0.75 per share) compared to net earnings of $1.16 billion ($1.16 per share) in the same prior year quarter. Adjusted net earnings were $0.78 billion ($0.78 per share)¹ compared to $1.12 billion ($1.12 per share) in the second quarter of 2011. Operating cash flow and adjusted operating cash flow of $0.76 billion(1) compare to operating cash flow of $0.75 billion and adjusted operating cash flow of $0.94 billion, respectively, in the same prior year quarter.

Operating Highlights

• Gold and copper production of 1.74 million ounces and 109 million pounds, respectively

• Gold total cash costs of $613 per ounce¹ and net cash costs of $534 per ounce¹

• Gold total cash margins of $995 per ounce¹, and net cash margins of $1,074 per ounce¹

• C1 copper cash costs of $2.28 per pound¹ and C1 copper cash margins of $1.17 per pound¹

Pascua-Lama Cost Increase

• Due to lower than expected productivity and persistent inflationary and other cost pressures, as previously disclosed, the company initiated a detailed review of the cost and schedule estimates for Pascua-Lama in the second quarter. Preliminary results currently indicate an approximate 50-60 percent increase in capital costs from the top end of the previously announced estimate of $4.7-$5.0 billion, with first production expected in mid-2014. The company will provide a further progress update with third quarter results.

Pueblo Viejo Completion

• Construction of the Pueblo Viejo and Jabal Sayid projects is essentially complete and capital costs for both projects are anticipated to be within guidance. First gold from Pueblo Viejo is expected in August and initial copper production from Jabal Sayid is anticipated in the third quarter.

2012 and Longer Term Outlook

• Expected gold production for 2012 continues to be in the range of 7.3-7.8 million ounces. Total and net cash costs for gold are now anticipated to be slightly higher in the range of $550-$575 per ounce and $460-$500 per ounce², respectively, primarily as a result of higher first half costs in Australia Pacific and at African Barrick Gold. Expected copper production for 2012 has been adjusted to 460-500 million pounds, primarily reflecting lower than expected production from Lumwana, and C1 cash costs are expected to be $2.10-$2.30 per pound. Total capital expenditures for 2012 are now anticipated to be $6.0-$6.3 billion.³

• In light of the current economic environment and Barrick’s increased rigor on disciplined capital allocation, the company has determined that various pipeline projects do not currently meet its investment hurdles. As a result, our gold and copper production base is now expected to be 8+ million ounces by 2015 and 600+ million pounds by 2013, respectively, representing a high quality and profitable core from which to expand further.

“Our second quarter earnings reflected lower gold production and higher operating costs as anticipated, but we continue to generate strong financial results and expect to have a stronger second half,” said Jamie Sokalsky, President and Chief Executive Officer. “We have announced a schedule delay and an increase in capital at Pascua-Lama, as well as some short term production challenges at Lumwana. These are disappointing developments but we are focused on addressing these challenges and they are my top priorities. We are taking immediate and strong action to get both on the right path.

I have also initiated a thorough review of our mines and projects to evaluate their rates of return and ability to generate free cash flow as part of a more disciplined capital allocation framework. In my view, rate of return should drive production, not the other way around. Our new Pueblo Viejo mine is an excellent example of an investment with an attractive rate of return that will generate free cash flow. I am very pleased to report that it has been completed on schedule and will begin contributing low cost ounces shortly.”

FINANCIAL AND OPERATING RESULTS

Reported net earnings were $0.75 billion or $0.75 per share compared to $1.16 billion or $1.16 per share in the same prior year quarter. Net adjusting items in the quarter totaled $34 million and significant components of this include:

• $29 million in tax adjustments related to a rate change in Canada and a foreign income tax assessment

• $25 million in asset impairment charges (primarily related to available-for-sale investments)

• $17 million in unrealized foreign currency translation losses

• $12 million in severance costs

Second quarter 2012 adjusted net earnings were $0.78 billion or $0.78 per share compared to $1.12 billion or $1.12 per share in the same prior year period. The lower net earnings and adjusted net earnings primarily reflect higher cost of sales for gold and copper, lower gold sales volumes and lower realized copper prices, partially offset by higher realized gold prices, higher copper sales volumes and lower income tax expense.

Operating cash flow and adjusted operating cash flow of $0.76 billion for the quarter compare to operating cash flow of $0.75 billion and adjusted operating cash flow of $0.94 billion, respectively, in the second quarter of 2011. The higher operating cash flow primarily reflects a decrease in net working capital outflows and income tax payments, as well as the impact of one-time acquisition related costs on operating cash flow in the second quarter of 2011, partially offset by lower net earnings. EBITDA for the second quarter was $1.51 billion⁴ compared to $2.09 billion in the same prior year period, reflecting the same factors affecting net earnings, except for income tax expense.

The second quarter realized gold price was $1,608 per ounce⁴, six percent higher than the same prior year period. Gold total cash margins and net cash margins were $995 per ounce and $1,074 per ounce compared to $1,068 per ounce and $1,177 per ounce in the second quarter of 2011. The realized copper price in the second quarter was $3.45 per pound⁴, 15 percent lower than the same prior year quarter.

PRODUCTION AND COSTS

Second quarter gold production was 1.74 million ounces at total cash costs of $613 per ounce and net cash costs of $534 per ounce. As previously disclosed, gold production in the second quarter was expected to be lower and total cash costs higher than the first quarter, with better results anticipated in the second half as lower cost mines contribute to a greater proportion of company production. Second quarter copper production of 109 million pounds at C1 cash costs of $2.28 per pound primarily reflects the impact of a waste stripping deficit accumulated in prior years as well as planned mill maintenance and the expected impact of the rainy season on ground conditions at Lumwana.

North America Regional Business Unit

North America produced 0.85 million ounces at total cash costs of $516 per ounce in the second quarter. Cortez production of 0.38 million ounces at total cash costs of $286 per ounce in the second quarter exceeded expectations on higher than expected underground grades and higher ore tons from the open pit.

Goldstrike produced 0.25 million ounces at total cash costs of $616 per ounce. As indicated with first quarter results, production in the second quarter was impacted by lower throughput capacity due to the planned shutdown of the roaster for maintenance. Goldstrike is expected to benefit in the second half of the year from increased throughput capacity following maintenance improvements implemented during the first half and from access to higher grades with completion of underground development. We continue to expect full year production for the region to be in the range of 3.425-3.60 million ounces at total cash costs of $475-$525 per ounce.

South America Regional Business Unit

South America produced 0.33 million ounces at total cash costs of $458 per ounce in the second quarter. The Veladero mine produced 0.16 million ounces at total cash costs of $397 per ounce. The mine experienced lower equipment availability as well as lower recoveries due to slower leach kinetics in addition to expected lower grades. At Lagunas Norte, production of 0.14 million ounces at total cash costs of $365 per ounce reflected mine sequencing and was also impacted by water management issues which restricted access to high grade areas of the open pit. Lagunas Norte is expected to return to higher production levels in the second half of the year with access to higher grades following the completion of pit dewatering. We continue to expect full year production for the region to be in the range of 1.55-1.70 million ounces at total cash costs of $430-$480 per ounce.

Australia Pacific Regional Business Unit

Australia Pacific produced 0.45 million ounces at total cash costs of $844 per ounce in the second quarter. The Porgera mine produced 0.10 million ounces at total cash costs of $1,014 per ounce, primarily reflecting lower underground tons mined. Expected full year production for Australia Pacific continues to be 1.80-1.95 million ounces. Total cash costs are now anticipated to be in the $770-$800 per ounce range in 2012 compared to the original guidance range of $700-$750 per ounce, primarily due to higher total cash costs in the first half of the year at Porgera and a similar outlook for the second half.

African Barrick Gold plc (ABG)

Second quarter attributable production from ABG was 0.11 million ounces at total cash costs of $950 per ounce, mainly reflecting lower grades from Buzwagi, as well as higher energy costs. Barrick’s share of 2012 production continues to be expected at 0.500-0.535 million ounces. Total cash costs are expected to be at the top end of the original $790-$860 per ounce range.

Copper

The Zaldívar copper mine in Chile produced 73 million pounds at C1 cash costs of $1.56 per pound in the second quarter. The Lumwana mine in Zambia produced 36 million pounds of copper at C1 cash costs of $3.53 per pound.

Previous ownership at Lumwana planned and operated the mine with a view to maximizing short-term production. Production and C1 cash costs have been primarily constrained by a historical waste stripping deficit, and, as previously disclosed with our first quarter results, were expected to be impacted in the second quarter by planned mill maintenance and poor ground conditions from the wet season, which also led to lower than anticipated equipment availability. Barrick has determined it needs to advance a number of key initiatives at Lumwana in order to improve site performance and maximize longer-term returns and value. These initiatives include:

• increased waste stripping

• migration to owner maintenance, currently underway, to improve maintenance practices and equipment availability

• infrastructure improvements to mitigate the impact of the annual rainy season

• key leadership changes at site, the majority of which were recently made

In addition, the company will increasingly focus on advancing work around the large Chimiwungo deposit, which is the primary future ore supply for the operation.

As a result of a weaker than expected first half performance from the Malundwe pit and efforts to advance these key initiatives, we now expect 2012 production from Lumwana to be 145-165 million pounds at C1 cash costs of $3.30-$3.50 per pound. Overall higher grades are expected in 2013, with production anticipated to be about 250 million pounds at lower C1 cash costs. Beyond 2013, the scale of the Chimiwungo orebody is expected to allow for more productive mining. The expansion into the Chimiwungo deposit is on schedule. Commissioning of the crusher and overland conveyor system was completed in July and mill feed is expected in early August. About one million tonnes of ore have been stockpiled to date.

Exploration results to date continue to confirm the significant upside potential of Chimiwungo. We are also conducting a substantial infill drilling program to provide a more precise model of the ore body for mine planning purposes. These programs are expected to be completed at the end of the year and will form the basis for an updated resource base and life-of-mine plan. They will also be incorporated into a prefeasibility study on the expansion opportunity for Lumwana, which has the potential to double processing rates.

The company has floor protection on approximately 60 percent of its expected copper production for the remainder of 2012 at an average floor price of $3.75 per pound⁵ and has full participation to any upside in copper prices.

COST MANAGEMENT

Barrick continues to employ key risk management strategies which have helped manage our cost exposures, maximize margins and give predictability to our earnings.

The largest currency exposure for the company is the Australian dollar/US dollar exchange rate. Barrick is substantially hedged on its remaining Australian operating and administrative expenditures for 2012 at an effective average rate of $0.80. The company is also 94 percent hedged on expected Australian operating expenditures in 2013 at an effective average rate of $0.84. Additional hedge coverage is also in place for 2014-2016 at levels below current rates.

The company has also mitigated the impact of higher crude oil prices through the use of financial contracts and production from Barrick Energy. The Barrick Energy contribution, along with the financial contracts, provides hedge protection for approximately 70 percent of the expected remaining 2012 fuel consumption.

EXPLORATION UPDATE

The 2012 exploration budget is $450-$490 million⁶, of which over 40 percent is for major exploration programs at Goldrush, Lumwana and Turquoise Ridge. These are key projects with large drill programs which are expected to add to and upgrade gold and copper resources in 2012-2013 and directly contribute to various planned scoping, prefeasibility and expansion studies.

In Nevada, over 50 drill rigs are currently operating, 12 of which are located at Goldrush. Overall, the robustness and continuity of the Goldrush system continues to be demonstrated. The limits of the entire system still remain open in multiple directions. Based on results to date, a significant increase is expected by 2012 year end to the already defined indicated resource of 1.3 million ounces and inferred resource of 5.7 million ounces⁷.

At Lumwana, the full contingent of 23 exploration drill rigs is operating at Chimiwungo. Drilling to date has increased confidence in the ability to substantially upgrade resource categorization and has also demonstrated strong potential for resource expansion outside of current reserve and resource areas. Favorably thickened ore zones, grading 0.8 percent copper on average in the Equinox and Roan Shoots, are being intersected both within the current inferred resource areas as well as in areas of no previously defined resources, adjacent to and along the trend of these ore shoots.

Results have also identified strong mineralization between the shoots, typically grading 0.7-0.8 percent copper. This Intershoot zone appears to project to depths of less than 150 meters from surface, which could favorably impact near term development opportunities and offer significantly more operational flexibility.

These results are expected to significantly grow 2011 copper reserves and resources, which had already been increased by about 75 percent from the pre-acquisition copper inventory to 4.9 billion pounds of proven and probable reserves, 2.1 billion pounds of measured and indicated resources and 10.7 billion pounds of inferred resources⁷.

PROJECT UPDATE

Pueblo Viejo

Construction of the 60 percent-owned Pueblo Viejo project in the Dominican Republic has been essentially completed on schedule. Mine construction capital is expected to be within the previously disclosed guidance of $3.6-$3.8 billion (100 percent basis) or $2.2-$2.3 billion (Barrick’s 60 percent share). First gold is expected in August and commercial production continues to be anticipated in the fourth quarter of 2012. Pueblo Viejo is expected to contribute approximately 100,000-125,000 ounces of gold to Barrick at total cash costs of $400-$500 per ounce⁸ in 2012 as it ramps up to full production in 2013. Barrick’s 60 percent share of annual gold production in the first full five years of operation is expected to average 625,000-675,000 ounces at total cash costs of $300-$350 per ounce⁹.

About 16.4 million tonnes of ore, representing approximately 1.9 million contained gold ounces, has been stockpiled to date. During the quarter, construction on the tailings starter dam advanced to in excess of 175 meters. The mine is now fully connected to the national grid and has also secured additional supplemental onsite power. Major systems completed and commissioned include: the water supply system, main switch yard and harmonic filters, ore and limestone crushing and grinding, the first two of four autoclaves, the oxygen plant (with the first of two trains in production) and the first of three lime kilns.

Construction is well advanced on a 215 MW dual fuel power plant at an estimated net incremental cost of approximately $300 million (100 percent basis) or $180 million (Barrick’s 60 percent share). The power plant is expected to commence operations in 2013 utilizing heavy fuel oil, but have the ability to subsequently transition to lower cost liquid natural gas.

Pascua-Lama

Pascua-Lama is expected to be one of the world’s largest, lowest cost mines and, once in production, is expected to contribute significant free cash flow to Barrick for many years to come. As previously disclosed with our first quarter results, due to lower than expected productivity and persistent inflationary and other cost pressures, the company initiated a detailed review of Pascua-Lama’s schedule and cost estimate in the second quarter.

While the review is not yet complete, preliminary results currently indicate that initial gold production is now expected in mid-2014, with an approximate 50-60 percent increase in capital costs from the top end of the previously announced estimate of $4.7-$5.0 billion. Approximately $3 billion has been spent to date. Inflationary pressures have also had an impact on total cash costs, which are now expected to be $0 to negative $150 per ounce based on a silver price of $25 per ounce¹⁰.

Based on information gathered to date, it is apparent that the challenges of building a project of this scale and complexity were greater than we anticipated. We also determined that we needed to re-align the project management structure between Barrick and our EPCM partners, Fluor and Techint. We have taken immediate actions to address these issues. We are strengthening the project management structure by seeking to have Fluor take over a greater proportion of the construction management of the project. Barrick is also working with Fluor and Techint to develop an integrated action plan that ensures the scope of remaining work is well planned and executed and has also engaged a leading EPCM organization to provide an independent assessment of the status of the project. We will provide a further progress update with third quarter results.

The key factors contributing to the capital cost increase are:

• lower than expected contractor productivity (~30%)

• engineering and planning gaps (~25%)

• cost escalation (~25%)

• schedule extension (~20%)

The delay to the schedule arises primarily from delays to completing the camps, tunnel and process plant.

In addition to the major change being made to construction management, we are also taking a series of other steps to mitigate the schedule and cost pressures. We have expedited procurement of key equipment and supplies to protect against adverse forward price movements and expanded procurement efforts in local markets. We have had notable successes with the fabrication and procurement of tanks and power transformers which are now being sourced in Argentina. We have also been ensuring since last year that, to the extent possible, new contracts for major work packages are done on a fixed fee basis, which should help mitigate significant labor cost increases.

During the second quarter, the project achieved critical milestones with completion of Phase 1 of the pioneering road and also the water management system in Chile, both of which enabled the commencement of pre-stripping activities. At the end of the second quarter, the tunnel was about 40 percent complete, the power-line in Chile was about 50 percent complete, and approximately 75 percent of the targeted 10,000 beds were available.

While Pascua-Lama has some unique challenges, it is a world-class resource with nearly 18 million ounces of proven and probable gold reserves plus silver contained within gold reserves of 676 million ounces⁷. Annual gold and silver production in the first full five years of a 25 year mine life is expected to average 800,000-850,000 ounces and 35 million ounces, respectively.

Jabal Sayid

Construction of the Jabal Sayid copper project in Saudi Arabia has been essentially completed and total project capital expenditures are expected to be approximately $400 million¹¹, in line with expectations. Current efforts are focused on completing pre-commissioning testing. The ore crushing circuit is complete and ore is expected to be processed in the third quarter.

The mine has received approval of the Environmental and Social Impact Assessment (ESIA) permit relating to construction and project commissioning. Additional safety and security design engineering is being completed to enable shipments of concentrates to commence by mid-2013.

Approximately 320,000 tons of underground ore had been mined at the end of the second quarter, representing about 17.2 million contained pounds of copper. Jabal Sayid is expected to produce 25-35 million pounds of copper in 2012, slightly below original guidance as plant commissioning has been delayed by one month. This production will be included within finished goods inventory until the project is in receipt of authorization to enable the shipment of concentrates. Average annual production from Jabal Sayid is expected to be 100-130 million pounds over the first full five years of operation at C1 cash costs of $1.50-$1.70 per pound¹².

PROJECTS IN FEASIBILITY AND PERMITTING

Barrick is evaluating its next tier of projects. Cerro Casale and Donlin Gold do not currently meet our investment criteria, primarily due to their large initial capital investments, and under our disciplined capital allocation framework we would not make a decision to construct them at this time. However, they contain large, long life mineral resources in stable jurisdictions, have significant leverage to the price of gold, and therefore represent valuable long-term opportunities for the company. We will maintain and enhance the option value of these projects by advancing permitting activities at reasonable costs which, in the case of Donlin Gold, will take a number of years. During this time, we will monitor the attractiveness of these projects and evaluate alternatives to improve their economics. This will provide the company with the option to make construction decisions in the future should investment conditions warrant.

2012 OUTLOOK

Barrick maintains its full year gold production guidance of 7.3-7.8 million ounces. As previously indicated, production is expected to be higher in the second half of 2012 compared to the first half as production commences at Pueblo Viejo and as Goldstrike and Lagunas Norte contribute to a greater proportion of production.

Total and net cash costs for gold are now expected to be slightly higher in the range of $550-$575 per ounce and $460-$500 per ounce, respectively, mainly due to higher costs in Australia Pacific and at African Barrick Gold in the first half of the year. Total cash costs are expected to be lower in the second half as a result of significantly higher overall production levels and lower cost mines contributing to a greater share of total company production.

Full year copper production is now expected to be 460-500 million pounds, primarily as a result of lower than anticipated production from Lumwana, at C1 cash costs of $2.10-$2.30 per pound.

CAPITAL ALLOCATION FRAMEWORK

Barrick’s renewed focus on maximizing shareholder value will be achieved through a disciplined approach to capital allocation based on maximizing returns on investment and free cash flow within the context of the prevailing economic and political environment. Under this approach, all capital allocation options, which include organic investment in exploration and projects, and acquisitions or divestitures to improve the quality of our portfolio, will be assessed on the basis of maximizing risk-adjusted returns. Our increased emphasis on free cash flow will position the company with the potential to return more capital to shareholders, repay debt, and make additional attractive return investments to upgrade our portfolio.

The company has recently launched a full review of its operations and projects to ensure they meet our objective of delivering appropriate risk-adjusted returns and maximizing free cash flow generation. In light of the current economic environment and this increased rigor on disciplined capital allocation, we have determined that various pipeline projects do not currently meet our investment criteria.

As a result, our annual gold production base is now expected to be 8+ million ounces by 2015 once Pueblo Viejo and Pascua-Lama are in full production. Our annual base copper production is expected to be 600+ million pounds by 2013, with the opportunity to increase to more than 1 billion pounds should the company decide to proceed with the Zaldívar Sulfides expansion and the Lumwana expansion. This production base represents a high quality and profitable core on which to expand further.

Barrick’s vision is to be the world’s best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner. Barrick’s shares are traded on the Toronto and New York stock exchanges.

¹ Adjusted net earnings, adjusted operating cash flow, gold total cash costs and net cash costs per ounce, gold total cash margins and net cash margins per ounce, C1 copper cash costs and C1 copper cash margins per pound are non-GAAP financial measures. See pages 44-48 of Barrick’s Q2 2012 Report.

² Based on an assumed realized copper price of $3.50 per pound for the balance of 2012.

³ Reflects the increase in Pascua-Lama capital expenditures.

⁴ EBITDA and realized gold and copper prices per ounce/pound are non-GAAP financial measures. See pages 44-48 of Barrick’s Q2 2012 Report.

⁵ The average realized price on total 2012 production is expected to be reduced by approximately $0.17 per pound as a result of the net premium paid for these positions.

⁶ Barrick’s exploration programs are designed and conducted under the supervision of Robert Krcmarov, Senior Vice President, Global Exploration of Barrick.

⁷ Calculated in accordance with National Instrument 43-101 as required by Canadian securities regulatory authorities. For a breakdown of reserves and resources by category and additional information relating to reserves and resources, see pages 161-166 of Barrick’s 2011 Year-End Report.

⁸ Based on a WTI oil price assumption of $90/bbl. The 2012 total cash cost estimate is dependent on the rate at which production ramps up after commercial levels of production are achieved. A change in the efficiency of the ramp up could have a significant impact on this estimate.

⁹ Based on gold and WTI oil price assumptions of $1,300/oz and $90/bbl, respectively. Does not include escalation for future inflation.

¹⁰ First full five year average. Based on gold, silver and WTI oil price assumptions of $1,300/oz, $25/oz and $90/bbl, respectively, and assuming a Chilean Peso assumption of 475:1. Inflation escalation assumptions are as of Q2 2012, and do not include escalation for future inflation.

¹¹ Includes approximately $125 million in incurred costs prior to Barrick’s acquisition of Equinox Minerals in 2011.

¹² Does not include escalation for future inflation.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

Certain information contained or incorporated by reference in this Second Quarter Report 2012, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “believe”, “expect”, “anticipate”, “contemplate”, “target”, “plan”, “intend”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements.

Such factors include, but are not limited to: fluctuations in the spot and forward price of gold and copper or certain other commodities (such as silver, diesel fuel and electricity); diminishing quantities or grades of reserves; the impact of inflation; changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and political or economic developments in Canada, the United States and other jurisdictions in which the company does or may carry on business in the future; the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; fluctuations in the currency markets; changes in U.S. dollar interest rates; risks arising from holding derivative instruments; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; business opportunities that may be presented to, or pursued by, the company; the ability of the company to successfully integrate acquisitions; operating or technical difficulties in connection with mining or development activities; employee relations; availability and increased costs associated with mining inputs and labor; increased costs and technical challenges associated with the construction of capital projects; litigation; the speculative nature of mineral exploration and development, including the risks of obtaining necessary licenses and permits; adverse changes in our credit rating; contests over title to properties, particularly title to undeveloped properties; and the organization of our previously held African gold operations and properties under a separate listed company. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion or copper cathode losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this Second Quarter Report 2012 are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.

The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.