The Bulyanhulu Mine is located in northwest Tanzania, East Africa, approximately 55 kilometers south of Lake Victoria and approximately 150 kilometers from the city of Mwanza. The mine is an underground trackless operation using long hole and drift-and-fill as its principal stoping methods. Ore reserves are accessed via a surface shaft and an internal ramp system.

In 2004, the mine produced 349,864 ounces of gold at a total cash cost of $283 per ounce. In 2005, production is expected to be between 320,000 and 325,000 ounces of gold at an average total cash cost of between $340 and $350 per ounce. Based on existing reserves of 10.6 million ounces and current production capacity, the expected minimum remaining mine life is approximately 24 years.

At Bulyanhulu, the geology consists of mafic volcanic flows overlain by a series of pyroclastics and ash tuffs. Argillite is present at the contact between the mafic and felsic rocks. The gold, silver and copper mineralization on the property occurs in mineralized “reefs” or quartz veins localized along steeply dipping northwest striking structures, generally localized in the argillite units. The zone strikes 310 degrees and dips steeply to the northeast. The mineralization has been defined over a strike length of 5 kilometers and averages 2 to 3 meters wide. The most significant structure discovered on the property to date is Reef 1, which contains the bulk of the mineral reserves defined to date.

The Bulyanhulu mine is owned by Barrick Gold Corp.

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