Securities Law & Instruments

Headnote

Mutual Reliance Review System for ExemptiveRelief Applications - Issuer has 24 beneficial security holders- issuer deemed to have ceased being a reporting issuer.

Applicable Ontario Statutory Provisions

Securities Act, R.S.O. 1990, c. S.5, as am.s. 83.

IN THE MATTER OF

THE SECURITIES LEGISLATIONOF

ALBERTA, SASKATCHEWAN,

ONTARIO, QUÉBEC, ANDNOVA SCOTIA

AND

IN THE MATTER OF

THE MUTUAL RELIANCE REVIEWSYSTEM

FOR EXEMPTIVE RELIEF APPLICATIONS

AND

IN THE MATTER OF

HOMESTAKE MINING COMPANY

 

MRRS DECISION DOCUMENT

WHEREAS the local securities regulatoryauthority or regulator (the "Decision Maker") in eachof Alberta, Saskatchewan, Ontario, Québec and Nova Scotia(collectively, the "Jurisdictions") has received anapplication of Homestake Mining Company ("Homestake")for a decision pursuant to the securities legislation of theJurisdictions (the "Legislation") that Homestake bedeemed to have ceased to be a reporting issuer or equivalentthereof under the Legislation;

AND WHEREAS pursuant to the Mutual RelianceReview System for Exemptive Relief Applications (the "System"),the Ontario Securities Commission is the principal regulatorfor this application;

AND WHEREAS Homestake has representedto the Decision Makers as follows:

1. Homestake, incorporated in 1983 under Delawarelaw, conducts gold exploration, development and mining operationsat numerous projects around the world. Homestake's principaloffice is Suite 2700, South Tower, Royal Bank Plaza, Toronto,Ontario M5J 2J3;

2. On December 14, 2001, pursuant to a mergerunder Delaware law, an indirect wholly-owned subsidiary ofBarrick Gold Corporation ("Barrick") merged withHomestake. As a result, Homestake became an indirect wholly-ownedsubsidiary of Barrick.

3. Homestake is a reporting issuer or theequivalent under the Legislation in each of the Jurisdictions.Homestake is not in default of any requirement under the Legislation,other than failure to file continuous disclosure documentsfor periods ending after the effective date of the mergerwith Barrick, including the annual report, annual informationform and annual financial statements for the year ended December31, 2001 and interim financial statements for the period endedMarch 31, 2002 and June 30, 2002;

4. The authorized capital of Homestake consistsof 450,000,000 shares of common stock, 10,000,000 shares ofvoting preferred stock, of which one share constitutes theseries A preferred stock, and one share of special votingstock. As at June19, 2002 there were 260,389,955 shares ofHomestake common stock, 1 share of Homestake series A preferencestock and no shares of Homestake special voting stock outstanding;

5. All of the outstanding shares of Homestakecommon stock and the one share of Homestake series A preferencestock are owned by Barrick Holding Co., which is a subsidiaryof Barrick and is resident in the United States;

6. Homestake has options ("Options")outstanding to acquire 3,299,028 Barrick common shares andshare rights ("Share Rights") outstanding to acquire46,402 Barrick common shares;

7. Homestake currently has 23 beneficial holdersof Options in Canada, of which 6 are resident in Ontario andnone of which are resident in Alberta, Saskatchewan, Quebec,or Nova Scotia, and one beneficial holder of Share Rightsin Canada who is resident in Ontario;

8. No securities, including debt securities,of Homestake are listed or quoted on any exchange or market;

9. Homestake does not intend to seek publicfinancing by way of an offering of its securities;

10. Other than the shares of Homestake commonstock, the share of Homestake series A preference stock, Optionsand Share Rights, Homestake has no other securities, includingdebt securities, outstanding;

AND WHEREAS pursuant to the System thisMRRS Decision Document evidences the decision of each DecisionMaker;

AND WHEREAS each of the Decision Makersis satisfied that the test contained in the Legislation thatprovides the Decision Maker with the jurisdiction to make theDecision has been met;

THE DECISION of the Decision Makers underthe Legislation is that Homestake shall be deemed to have ceasedto be a reporting issuer or the equivalent thereof under theLegislation.

September 25, 2002.

"Howard I. Wetston"                    "RobertL. Shirriff"