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GFI
GOGOF
Gold Fields Limited - Fairness Hearing Adjourned
Gold Fields Limited
Share Code: GFL
Isins: ZAE000014270
JOINT PRESS RELEASE
Fairness Hearing Adjourned
Johannesburg and Toronto, Canada, January 20, 2006 - Gold Fields Limited
(NYSE/JSE: GFI) and Bolivar Gold Corp. (TSX:BGC) announced today that the
Supreme Court of the Yukon Territory of Canada has adjourned the fairness
hearing to be heard February 7 to February 10. Scion Capital, LLC has filed an
oppression claim against Bolivar, its senior officers and non-independent
directors, as well as Gold Fields. The court stated that the fairness hearing
and oppression claim involve similar issues and should be heard together.
"We are extremely disappointed that Scion continues with legal actions that
prevent our securityholders from receiving their money for their securities.
This was a democratic process whereby 77% of the common shares and 82% of
warrants and options were voted in favour of the transaction. Other than Scion,
less than 5% of the common shares were voted against the transaction," stated
Serafino Iacono, Chairman and CEO of Bolivar Gold. Ian Cockerill, Chief
Executive Officer of Gold Fields also noted, "We are disappointed in this delay
but are confident that the courts will favorably resolve the matter. "
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.
For further information:
Gold Fields Limited Bolivar Gold Corp.
Willie Jacobsz Peter Volk
+27-11-644-2460 (416) 360-4653
williej@goldfields.co.za pvolk@bolivargold.com
Nerina Bodasing
+27-11-644-2630
Nerina.Bodasing@goldfields.co.za
Cheryl A Martin,
(303) 796-8683,
camartin@gfexpl.com
Date: 20/01/2006 10:06:22 AM Produced by the JSE SENS Department
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