| Thu 3 Mar 2005, 9:02 | | Joint News Release |
|
Gold Fields - Joint News Release
Gold Fields Limited
Registration number: 1968/004880/06
ISIN: ZAE000018123 JSE Code: GFI
(`Gold Fields` or the `company`)
JOINT NEWS RELEASE
March 2, 2005
Comaplex Minerals Corp. and Gold Fields Announce a Further Equity Investment
(Cdn$8.5 million) and Technical Assistance Cooperation by Gold Fields
Comaplex Minerals Corp. (`Comaplex`) (www.comaplex.com) (TSX:CMF) and Gold
Fields Limited (`Gold Fields`) (JSE and NYSE: `GFI`) are pleased to announce
that Comaplex has entered into a subscription agreement (the `Subscription
Agreement`) with Orogen Holdings (BVI) Limited (`Orogen`), an indirect wholly-
owned subsidiary of Gold Fields, whereby Orogen will purchase, on a non-brokered
private placement basis, 2,428,571 common shares of Comaplex at a price of Cdn.
$3.50 per share for about aggregate gross proceeds to Comaplex of Cdn. $8.5
million. This transaction is expected to close on March 4, 2005 and is subject
to receipt of approval by the Toronto Stock Exchange and the South African
Reserve Bank. When combined with the shares Orogen already owns in Comaplex,
Orogen will own a total of 7,628,571 Comaplex shares, representing a total of
19.8 % of the issued and outstanding shares of Comaplex after giving effect to
this transaction.
Gold Fields has advised Comaplex that all of the Comaplex common shares to be
held by Orogen following completion are for investment purposes and that Orogen
may increase or decrease its holdings at prices which it determines to be
attractive at any time pursuant to market transactions or negotiated
transactions.
The proceeds of the placement will be directed to the further exploration and
development of the Meliadine Properties, located in the Nunavut Territory in
Canada, managed by Comaplex. In connection with the closing of the equity
investment under the Subscription Agreement, Comaplex and Gold Fields intend to
enter into a Technical Assistance Agreement (`TA Agreement`) under which Gold
Fields will provide technical assistance in the planning and execution of the
2005 advanced exploration program on the Meliadine West and other properties,
and, potentially additional programs thereafter. Under the terms of the TA
Agreement, Gold Fields will also provide expertise on drilling locations,
metallurgical testing, environmental and regulatory studies, and other
information necessary to proceed towards a feasibility study.
Comaplex is a junior resource company that explores for precious metals, base
metals and diamonds in Canada and internationally.
Gold Fields is one of the world`s largest unhedged gold producers, with annual
production of approximately 4.2 million ounces of gold and reserves of 75
million ounces and mineral resources of 179 million ounces. Gold Fields is
listed on the JSE Securities Exchange (primary listing), NYSE, LSE, Euronext in
Paris and Brussels, and on the Swiss Exchange.
For additional information, please contact George F. Fink, President and CEO,
or Mark J. Balog, Vice President - Exploration, of Comaplex at (403) 265-2846 or
Cheryl Martin, Vice President, North American Investor Relations of Gold Fields,
at +(303) 796-8683.
Orogen Holding (BVI) Limited Comaplex Minerals Corp.
9 Columbus Centre Suite 901, 1015 4th Street SW
Pelican Drive, Road Town, Tortola Calgary, Alberta
The British Virgin Islands T2R 1J4
Date: 03/03/2005 08:58:09 AM
Produced by the JSE SENS Department
