Dixie Gold Inc. announced that it has executed a definitive agreement with a subsidiary of Barrick Gold Corp. whereby Dixie Gold has granted the right to Barrick Gold, as operator, to earn-in on its Red Lake project situated near Red Lake, Ontario, Canada. Through its Red Lake Gold Project, Dixie Gold holds a large district-scale gold exploration project covering approx. 25,269 ha of mining rights. The project is situated immediately adjacent and contiguous to the Dixie Project being advanced by neighbouring exploration junior Great Bear Resources Ltd. Details on the Earn-In Agreement: The Earn-In Agreement as between Dixie Gold and Barrick Gold is subject to a variety of industry standard earn-in provisions, with key material terms being that: Barrick Gold may earn a 70% interest in the Red Lake Gold Project by incurring, in full, an aggregate of at least $4,000,000 of exploration expenditures within 48 months of the Earn-In Agreement (of which at least $500,000 is a guaranteed expenditure in the first twelve months) (the "Expenditure Period"); and deliver a 43-101 compliant technical report in respect of Dixie Gold's Red Lake Gold Project that establishes a mineral resource of at least half a million ounces of gold (or gold-equivalent ounces) (the "500,000 Ounce Gold Resource") as prepared in accordance with the requirements of National Instrument 43-101 and published within a further 12-months from the Expenditure Period. Subject to a successful earn-in by Barrick Gold, Dixie Gold and Barrick Gold shall establish a joint- venture corporation (the "JV Corp."), to be held on the basis of 30% as to Dixie Gold and 70% as to Barrick Gold. Dixie Gold may, at its sole discretionary election, avail itself of certain development funding options, including whereby upon approval of a feasibility study within the JV Corp., Dixie Gold may request that Barrick Gold provide or otherwise successfully arrange third-party financing of Dixie Gold's portion of any debt financing required for the development and construction of an operating mine (the "Mine Financing Mechanism"), in consideration for a further 10% allocation out of Dixie Gold's 30% allocation in the JV Corp. Among other provisions, the Mine Financing Mechanism outlines that funding from Barrick Gold shall be facilitated at an interest rate equal to Barrick Gold's cost of capital, with 80% of initial free cash flow related to the Dixie Gold interest being allocated to repayment. If either Dixie Gold or Barrick Gold's interest in the JV Corp. declines below a 10% threshold, then that party's interest shall, as applicable, convert to a 1% NSR. Additional announcements related to forward exploration-plans and results as associated with the Red Lake Gold Project will be issued by the parties in normal course.