M E D I A
R E L E A S E
Gold Fields Limited
Reg. 1968/004880/06
24 St Andrews Road
Parktown, 2193
Postnet Suite 252
Private Bag X30500
Houghton, 2041
South Africa
Tel +27 11 644-2400
Dir +27 11 644-2460
Fax +27 11 484-0639
www.goldfields.co.za
Enquires
South Africa
Willie Jacobsz
Tel +27 11 644-2630
Fax +27 11 484-0639
Nerina Bodasing
Tel +27 11 644-2460
Fax +27 11 484-0639
North America
Cheryl A Martin
Tel +1 303 796-8683
Fax +1 303 796-8293
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-
Directors: A J Wright (Chairman), I D Cockerill
†
(Chief Executive Officer),K Ansah
#
, G J Gerwel, A Grigorian°, N J Holland
†
(Chief Financial
Officer), J M McMahon
†
, R L Pennant-Rea
†
, P J Ryan, M A Sosnovski°, S Stefanovich°,T M G Sexwale, C I von Christierson
†
British,
#
Ghanaian, °Russian
Corporate Secretary: C Farrel