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Acacia: Disagrees With Barrick's Certain Statements Regarding Tanzania Plans

Acacia Mining plc (ACA.L) Wednesday said it strongly disagrees with a number of statements in the announcement from Barrick Gold Corp. (ABX,ABX.TO) regarding their views on the situation in Tanzania and Acacia's mine plans.

Acacia said it is also surprised with the circumstances and timing of Barrick's announcement that immediately followed earlier announcements regarding Acacia's agreement to Barrick's request for an extension to the PUSU Deadline.

The company urged its shareholders not to take any action at this time, and said it will provide a detailed response, as appropriate, in due course.

It was on May 21 that Barrick announced its proposal to acquire Acacia shares it does not already own through a share for share exchange of 0.153 Barrick shares for each ordinary share of 10 pence each in Acacia. This implies a value for Acacia of $887.8 million and total consideration to the minority shareholders of Acacia of $320.1 million.

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