African Barrick Gold plc (the Company or ABG ) Nyanzaga Resource Continues to Grow. Total Resource now 3.75Moz Au Indicated and 0.

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1 3 rd April 2012 African Barrick Gld plc (the Cmpany r ABG ) Nyanzaga Resurce Cntinues t Grw Ttal Resurce nw 3.75Mz Au Indicated and 0.85Mz Au Inferred ABG is pleased t annunce a further uplift t the previusly declared Mineral Resurce estimate fr the Nyanzaga Prject, with the additin f the Kilimani zne. This cntinues t increase ur cnfidence that the Nyanzaga prject, which cmprises the Tusker and Kilimani mineralised znes, has the ptential t becme ur next mine in Tanzania. The inclusin f this near surface, xide resurce in the Kilimani zne and the further expansin f the verall in-pit resurce shuld imprve the verall prject ecnmics with additinal prductin at the start f the mine life. The in-pit resurce has been increased by a further 0.5Mz and is nw in excess f 4.6Mz Au, cnsisting f 3.75Mz at 1.42g/t Au Indicated and 0.85Mz at 1.81g/t Au Inferred. The updated mdelling nw cnfirms the pprtunity t explit the Tusker and Kilimani mineralised znes in a single pen pit, and is anther highly encuraging step in the Cmpany s verall strategy f realising the ptential f its existing prtfli f high quality assets. Since annuncing the updated mineral resurce fr the Nyanzaga prject in January 2012, desktp scping wrk has fcused n the mdelling f the Kilimani near-surface resurce, whilst field activities have fcused n cntinuing getechnical, hydrlgy and metallurgical drill prgrammes t allw us t better cnstrain the pen pit mdel. As a result f the additin f the Kilimani resurce we have been able t re-mdel the pen pit resurce, which has resulted in a larger, single pit incrprating bth the Tusker and Kilimani resurce areas. Cmmenting n the expanded Mineral Resurce at Nyanzaga, CEO Greg Hawkins said: The additin f near surface, xide unces and resulting further expansin f the verall depsit further increases ur cnfidence in the ptential fr Nyanzaga t becme ur next mine in Tanzania. Nt nly des it add t the verall scale f the depsit but it further imprves the ecnmics with an imprved prductin prfile early n in the life f the prject.

2 The fllwing table details the in-pit Mineral Resurces, which have been develped and are reprted in accrdance with Canadian Natinal Instrument Table 1: Mineral Resurce Estimatin fr the Nyanzaga Prject Tusker Zne Indicated Inferred Oxide Transitin Fresh Ttal Kilimani Zne Indicated Inferred Oxide Transitin Fresh Ttal Nyanzaga (Tusker + Kilimani) Indicated Inferred Oxide Transitin Fresh Ttal (1) ABG wns 100% f the prspecting licences encmpassing the Nyanzaga resurce area thrugh whlly wned Tanzanian subsidiaries (2) Estimated at a 0.45g/t Au cut-ff (3) Base case gld price f $1,400 per unce and an estimated recvery f 86% (4) Ttals may nt add due t runding (5) Mineral resurces that are nt mineral reserves have nt demnstrated ecnmic viability (6) See Nte t mineral resurce estimates at the end f this release fr infrmatin n the calculatin f mineral resurces estimates and definitins. The fllwing table prvides a breakdwn f the in-pit Mineral Resurces at varying cut-ff grades. Table 2: Mineral Resurce Estimatin fr the Nyanzaga Prject: Cut-ff (g/t) Indicated Inferred (1) ABG wns 100% f the prspecting licences encmpassing the Tusker resurce area thrugh whlly wned Tanzanian subsidiaries (2) Base case gld price f $1,400 per unce and an estimated recvery f 86% (3) Ttals may nt add due t runding (4) Mineral resurces that are nt mineral reserves have nt demnstrated ecnmic viability (5) See Nte t mineral resurce estimates at the end f this release fr infrmatin n the calculatin f mineral resurces estimates and definitins.

3 At the same time, we cntinue t receive encuraging assay results fr infill and step-ut drilling cmpleted in late 2011 and earlier this year that shw excellent cntinuity frm the brader spaced drilling. Recent results include intersectins f: NYZRCDD0506: 1.57g/t Au frm 218m, including 64.7g/t Au frm 441m NYZRCDD0509: 1.52g/t Au frm 329m, including 5.39g/t Au frm 532m NYZRCDD0510: 2.68g/t Au frm 262m, including 20.2g/t Au frm 392m and 2.60g/t Au frm 448m, including 9.28g/t Au frm 459m NYZRCDD0512: 1.28g/t Au frm 244m and 2.06g/t Au frm 515m, including 8.99g/t Au frm 524m NYZRCDD0514: 1.82g/t Au frm 343m, including 4.03g/t Au frm 358m At Kilimani, the tw hydrlgical hles drilled t date as part f the scping study wrk have bth returned significant results frm shallw depths including intersectins f: NYZRCDDHY0006: 22.75g/t Au frm 23m NYZRCDDHY0011: 1.32g/t Au frm 4m. Further explratin drilling cmmenced n schedule during March, with the bjective f defining high grade undergrund resurces at depth at Tusker, as well as testing further near surface targets arund bth the Kilimani and Tusker resurce areas. At the same time, the scping study fr the prject cntinues, with the current wrk prgramme fcusing n the cmpletin f getechnical drilling and metallurgical mdelling acrss the ptential newly defined pen-pit area, infrastructure trade-ff studies, envirnmental and scial baseline studies and licensing fr the prject. Abut the Nyanzaga Prject The Nyanzaga Prject is lcated within the Sengerema District, Mwanza regin, apprximately 35km nrtheast f the Bulyanhulu mine and is cmprised f the Tusker and Kilimani resurce areas, which frm a single pen-pit, and numerus reginal explratin prspects. Nyanzaga lies n the nrtheastern flank f the Sukumaland Archaean Greenstne Belt cnsisting f a granite-greenstne terrain. The Nyanzian greenstne system cnsists mainly f mafic vlcanic rcks and sediments typical f greenstne belts f the central Cng Cratn. The rcks are divided int a lwer series (primarily basalt, andesite and dacite lavas) and an upper series f sediments (banded irn frmatin, recrystallised chert, felsic lavas, tuff, ferruginus chert and mudstne). The greenstnes are generally metamrphsed t greenschist facies and they are flded abut steeply dipping axial planes. The interpreted gelgical sequence appears largely cnsistent dwn dip and alng strike. Hst lithlgies fr gld mineralisatin in the Tusker depsit are predminantly chert, siltstne and sandstne units f the upper series f the Nyanzian, assciated with stckwrk quartz, and quartz-carbnate vein arrays. Mineralised veins appear t have n preferred rientatin with late stage silica veining and breccias assaying higher than average gld grades fr the bulk f the depsit. The Tusker mineralised system displays extensive and strng carbnate alteratin that extends well beynd the gld mineralisatin, with silica-carbnate-pyrite-pyrrhtite-arsenpyrite alteratin assciated with znes f gld mineralisatin.

4 Figure 1 Leapfrg screensht lking east, shwing new resurce pen-pit design incrprating Kilimani mineralisatin, and planned deep drilling at Nyanzaga targeting undergrund resurces. Nte als the higher grade near surface mineralisatin n nrth end f Tusker Hill. Figure 2 (belw) shws the drill hle lcatin plan fr the Tusker-Kilimani depsits and the surface utline f the revised resurce pen pit, whilst Figures 3 & 4 shw typical east-west crss sectins thrugh the Tusker depsit with selected recent drill results shwn frm infill drilling. Higher grade gld mineralisatin has been intersected at depths greater than 600 metres, and the current wrk prgramme includes further drilling t review the ecnmic ptential fr these deeper znes.

5 Figure 2: Nyanzaga Prject, drill hle lcatin plan with new ptimised $1,400/z pen pit including Kilimani mineralisatin, and shwing the lcatin f crss sectins included as Figure 3 and 4 where recent infill drilling cntinues t shw excellent grade and width cntinuity f higher grade znes.

6 Figure 3: Nyanzaga Prject, Tusker Depsit Crss Sectin 2,400mN shwing $1400/z resurce pit utline and recent infill drilling results fr hle NYZRCDD0510, which included several higher grade znes including 17.8g/t Au frm 392m and 7.59g/t Au frm 455m (dwn hle width and depths)

7 Figure 4: Nyanzaga Prject, Tusker Depsit Crss Sectin 2,480mN shwing $1400/z resurce pit utline and recent infill drilling results fr hle NYZRCDD0509, which included several higher grade znes including 5.39g/t Au frm 329m and 4.87g/t Au frm 591m (dwn hle width and depths)

8 ENQUIRIES Fr further infrmatin cntact: African Barrick Gld plc +44 (0) Andrew Wray, Head f Crprate Develpment & Investr Relatins Giles Blackham, Investr Relatins Manager RLM Finsbury +44 (0) Charles Chichester Abut ABG ABG is Tanzania s largest gld prducer and ne f the five largest gld prducers in Africa. We have fur prducing mines, all lcated in nrthwest Tanzania, and several explratin prjects at varius stages f develpment. With a high-quality asset base, slid grwth pprtunities and a clear strategy, we have the bjective f increasing ur existing prductin t ne millin unces per year by We aim t achieve this by: driving perating efficiencies t ptimise prductin frm ur existing asset base; grwing thrugh near mine expansin and develpment f advanced-stage prjects; and rganic greenfield grwth and acquisitins in Africa. Maintaining ur licence t perate thrugh acting respnsibly in relatin t ur peple, the envirnment and the cmmunities in which we perate is central t achieving ur bjectives. ABG is a UK public cmpany with its headquarters in Lndn. We are listed n the Main Market f the Lndn Stck Exchange under the symbl ABG and have a secndary listing n the Dar es Salaam Stck Exchange. Histrically and prir t ur initial public ffering (IPO), ur peratins cmprised the Tanzanian gld mining business f Barrick Gld Crpratin (Barrick), ur majrity sharehlder. ABG reprts in US dllars in accrdance with IFRS as adpted by the Eurpean Unin, unless therwise stated in this reprt. Nte n estimatin techniques A blck mdel was created in the Surpac sftware t estimate grades and define classificatin f the resurce. Blck size were defined as 10x10x5 meters, utilising a nminal 0.45g/t cut-ff hard bundary. Dmains were defined based n the interpreted lithlgical units f the depsit. The Ordinary Kriging algrithm was used t estimate gld int each f the blcks after which the blcks were classified int Indicated and Inferred. In rder t cnstrain the resurce estimate, a cnceptual pit shell was develped using Datamine sftware t identify thse parts f the blck mdel that have reasnable prspects fr eventual ecnmic extractin. Parameters used in Whittle ptimisatin were: US$3.17 per tnne mining cst; US$1400 per z gld price; 86% prcess recvery; US$12.00 per tnne prcess cst; verall slpe angle f 48.

9 Nte t mineral resurce estimates Infrmatin in this annuncement relating t Mineral Resurces is based n resurce blck mdels cmpiled by Patrick Adams, wh is a Qualified Persn fr Cube Cnsulting Prprietary Limited. Mineral resurces estimates cntained in this annuncement have been calculated in accrdance with Natinal Instrument as required by Canadian securities regulatry authrities. Canadian Institute f Mining, Metallurgy and Petrleum (CIM) definitins were fllwed fr the mineral resurces estimates. Calculatins have been reviewed, verified (including estimatin methdlgy, sampling, analytical and test data) and cmpiled by ABG persnnel under the supervisin f ABG Qualified Persn: Richard Adf, Crprate Manager, Gelgy. Hwever, the figures stated are estimates and n assurances can be given that the indicated quantities f metal will be prduced. Mineral Resurces have been calculated using an assumed lng-term average gld price f US$ 1400 per unce. Resurce estimates can change and tend t be influenced mstly by new infrmatin pertaining t the understanding f the depsit and secndly the cnversin t re reserves. In additin, estimates f inferred mineral resurces may nt frm the basis f an ecnmic analysis and it cannt be assumed that all r any part f an inferred mineral resurce will ever be upgraded t a higher categry. Therefre, investrs are cautined nt t assume that all r any part f an inferred mineral resurce exists, that it can be ecnmically r legally mined, r that it will ever be upgraded t a higher categry. Likewise, investrs are cautined nt t assume that all r any part f measured r indicated mineral resurces will ever be upgraded int mineral reserves. An inferred mineral resurce is that part f a mineral resurce fr which quantity and grade r quality can be estimated n the basis f gelgical evidence and limited sampling and reasnably assumed, but nt verified, gelgical and grade cntinuity. The estimate is based n limited infrmatin and sampling gathered thrugh apprpriate techniques frm lcatins such as utcrps, trenches, pits, wrkings and drill hles. An indicated mineral resurce is that part f a mineral resurce fr which quantity, grade r quality, densities, shape and physical characteristics can be estimated with a level f cnfidence sufficient t allw the apprpriate applicatin f technical and ecnmic parameters, t supprt mine planning and evaluatin f the ecnmic viability f the depsit. The estimate is based n detailed and reliable explratin and testing infrmatin gathered thrugh apprpriate techniques frm lcatins such as utcrps, trenches, pits, wrkings and drill hles that are spaced clsely enugh fr gelgical and grade cntinuity t be reasnably assumed. Frward-lking statements This annuncement is fr infrmatin purpses nly and des nt cnstitute an invitatin r ffer t underwrite, subscribe fr r therwise acquire r dispse f any securities f ABG in any jurisdictin. This annuncement includes frward-lking statements that express r imply expectatins f future events r results. Frward-lking statements are statements that are nt histrical facts. These statements include, withut limitatin, financial prjectins and estimates and their underlying assumptins, statements regarding plans, bjectives and expectatins with respect t future prductin, peratins, csts, prducts and services, and statements regarding future perfrmance. Frward-lking statements are generally identified by the wrds plans, expects, anticipates, believes, intends, estimates and ther similar expressins. All frward-lking statements invlve a number f risks, uncertainties and ther factrs, many f which are beynd the cntrl f ABG, which culd cause actual results and develpments t differ materially frm thse expressed in, r implied by, the frward-lking statements. Factrs that culd cause r cntribute t differences between the actual results, perfrmance and achievements f ABG include, but are nt limited t, plitical, ecnmic and business cnditins, industry trends, cmpetitin, fluctuatins in the spt and

10 frward price f gld r certain ther cmmdity prices, changes in regulatin, currency fluctuatins (including the US dllar, Suth African rand and Tanzanian shilling exchange rates), ABG s ability t successfully integrate future acquisitins, ABG s ability t recver its reserves r develp new reserves, including its ability t cnvert its resurces int reserves and its mineral ptential int resurces r reserves, and t timely and successfully prcess its mineral reserves, risk f trespass, theft and vandalism, changes in its business strategy as well as risks and hazards assciated with the business f mineral explratin, develpment, mining and prductin. Althugh ABG s management believes that the expectatins reflected in such frward-lking statements are reasnable, ABG cannt give assurances that such statements will prve t be crrect. Accrdingly, investrs shuld nt place reliance n frward lking statements in this annuncement. Any frward-lking statements in this annuncement nly reflect infrmatin available at the time f preparatin. Subject t the requirements f the Disclsure and Transparency Rules and the Listing Rules r applicable law, ABG explicitly disclaims any bligatin r undertaking publicly t release the result f any revisins t any frward-lking statements in this annuncement that may ccur due t any change in ABG s expectatins r t reflect events r circumstances after the date f this annuncement. Nthing in this annuncement shuld be cnstrued as a prfit frecast r estimate.