Saudi Arabian Mining Co. — Capital/Financing Update 2015

Dec 31, 2015

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES LATEST DEVELOPMENT REGARDING JABAL SAYED COPPER MINE OF ITS AFFILIATE MAADEN BARRICK COPPER COMPANY (MBCC)

1211 · 31/12/2015 16:08:36 · Announcement #40620 · View on Saudi Exchange

SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES LATEST DEVELOPMENT REGARDING JABAL SAYED COPPER MINE OF ITS AFFILIATE MAADEN BARRICK COPPER COMPANY (MBCC)

Further to the Saudi Arabian Mining Companys (Maaden) announcement published on Tadawuls website on 03/12/2014, Maaden announces initial production of copper in concentrate at the Jabal Sayed mine of its affiliate Maaden Barrick Copper Company (MBCC). The estimated production capacity of Jabal Sayed is 45,000-60,000 tonnes of copper in concentrate per year.

The financial impact will be considered following the declaration of commercial production, which is targeted to be in the first quarter of 2016.

Any additional information will be provided in due course.

Maaden Barrick Copper Company is a limited liability company, jointly owned 50:50 by Maaden and Barrick Gold Corporation.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.