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GOLD FIELDS LIMITED -
GOLD FIELDS LIMITED
SHARE CODES:GFI
ISIN CODE:ZAE000018123
SHANDONG BGMR ALLIANCE
Johannesburg, 16 January 2004: Gold Fields Limited (JSE and
NYSE:GFI) and Sino Gold Limited are pleased to advise that the
Sino Gold Fields Joint Venture ("SGF") has entered into an
exploration alliance and project joint venture agreement in
Shandong Province, Peoples Republic of China.
The agreement is with the Shandong Provincial Bureau of Geo-
Mineral Exploration and Development ("Shandong BGMR") for a
cooperative joint venture to explore the Hei-Shan gold
exploration project. The cooperative joint venture is held
70% by SGF and 30% by Shandong BGMR, with SGF providing the
first phase exploration funding and Shandong BGMR the
tenement.
SGF is the 50/50 joint venture between Sino Gold and Gold
Fields to identify and acquire exploration properties in
Shandong Province, which is China"s richest gold producing
province with several 2 to 3 million ounce gold deposits.
This region is considered to be highly prospective and is a
focus for SGF"s activity.
SGF regards this agreement as significant in realising its
strategy of securing high quality properties in the Shandong
Province. Shandong BGMR is an important joint venture and
exploration alliance partner as it is the largest tenement
holder in the Shandong province and has a comprehensive
geological database.
The Hei-Shan project is located in north-eastern Shandong
Province, approximately 300km from the provincial capital of
Jinan. The property is an early-stage exploration prospect
for alteration-style lode deposits. It has been tested
previously to a shallow depth with low-grade mineralisation
encountered. Hei-Shan has favourable structural settings and
is adjacent to similar style deposits that are producing gold
at depth beneath an unmineralised portion of over 200 metres.
The initial commitment for SGF is US$300,000 for planned
geophysical work to assist in future deep drill targeting.
While at this stage Hei-Shan is an exploration prospect, the
agreement also covers possible project evaluation and
development. Additionally, under the terms of the agreement,
an exclusive right to cooperate in three other exploration
areas has been preserved for 12 months.
The signed contract has been submitted to the Ministry of
Commerce for approval and issuing of the Business Licence.
For further details, please contact:
Gold Fields
Willie Jacobsz
Senior Vice President Investor Relations and Corporate Affairs
+27 11 644-2460
Cheryl Martin
Vice President North American Investor Relations
+303 796-8683
Sino Gold
Jake Klein,
Chief Executive Officer
02 8259 7000
Date: 15/01/2004 05:34:03 PM Supplied by www.sharenet.co.za
Produced by the JSE SENS Department
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