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Gold Fields - South African Reserve Bank Gives Approval For Gold Fields/Bolivar
Transaction
Gold Fields Limited
(Reg. No. 1968/004880/06)
(Incorporated in the Republic of South Africa)
Share Code: GFI
ISIN Code: ZAE000018123
MEDIA RELEASE
South African Reserve Bank Gives Approval For Gold Fields / Bolivar Transaction
Johannesburg, November 29, 2005: Gold Fields Limited (Gold Fields) (NYSE and
JSE: GFI) is pleased to announce that the South African Reserve Bank has given
its approval for the proposed transaction between Gold Fields and Bolivar Gold
Corp. (Bolivar) (TSX: BGC).
Gold Fields and Bolivar announced on November 21, 2005, that the companies had
entered into an agreement by which all of the outstanding securities of Bolivar
will, through a court-approved plan of arrangement, be combined with Gold Fields
for a total cash consideration of approximately US$330 million (approximately
ZAR 2.2 billion).
Gold Fields is one of the world"s largest unhedged gold producers, with annual
gold production of approximately 4.2 million ounces from mines in South Africa,
Ghana and Australia as well as a developing mine at Cerro Corona in Peru. The
Company has reserves of 64.8 million ounces and mineral resources of 174.5
million ounces. Gold Fields has its primary listing on the Johannesburg
Securities Exchange and secondary listings on the NYSE, LSE, Euronext in Paris
and Brussels, and on the Swiss Exchange. All of Gold Fields" operations are ISO
14001 certified.
Bolivar Gold Corp. is a gold exploration, development and production company. At
its 95%-owned Choco 10 property in Venezuela, drilling has confirmed near-
surface proven and probable ore reserves of 1.3 million ounces. The 5,400 tonne
per day Choco 10 operation commenced commercial production in August 2005.
Bolivar Gold intends to exploit this reserve while continuing to pursue the
exploration potential of the Choco 10 property, as well as throughout the El
Callao district in conjunction with its joint venture partner, Gold Fields
Limited.
-ends-
Enquiries:
Gold Fields
Willie Jacobsz
+27 11 644-2505
williej@goldfields.co.za
Nerina Bodasing
+27 11 644-2630
nerinab@goldfields.co.za
Cheryl Martin
(303) 796-8683
camartin@gfexpl.com
Bolivar Gold
Robert Doyle
(416) 360-4653
rdoyle@bolivargold.com
Date: 29/11/2005 11:53:07 AM Produced by the JSE SENS Department
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