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South Africa
Disclaimer
Except for the historical information contained herein, there are matters discussed in this news release that are forward-looking
statements. Such statements are only predictions and actual events or results may differ materially. For a discussion of important
factors including, but not limited to development of the Company's business, the economic outlook in the gold mining industry,
expectations regarding gold prices and production, and other factors, which could cause actual results to differ materially from such
forward-looking statements, refer to the Company's annual report on the Form 20-F for the year ended 31 December 2002 which was
filed with the Securities and Exchange Commission on 7 April 2003.
(Incorporated in the Republic of South Africa)
CORPORATE AFFAIRS DEPARTMENT
(Registration Number: 1944/017354/06)
16th Floor, 11 Diagonal Street, Johannesburg 2001, South Africa
Tel: (+27 11) 637-6385 or Fax: (+27 11) 637-6399/6400
ANGLOGOLD TO HOLD A POSITION IN QUEENSTAKE UPON CLOSING
OF THE SALE OF THE JERRITT CANYON JOINT VENTURE
New York June 3, 2003 AngloGold (NYSE:AU) today announced, further to its June 2, 2003
announcement regarding the sale of AngloGold's interests in the Jerritt Canyon Joint Venture to
Queenstake Resources U.S.A. Inc., a subsidiary of Queenstake Resources Ltd., that upon closing
of the transaction, AngloGold may beneficially own more than 10% in the outstanding stock of
Queenstake Resources Ltd. Queenstake has announced its intention to finance this purchase in
part by a $15 to $20 million brokered equity financing. The closing of the Jerritt Canyon
transaction is scheduled for June 25, 2003, at which time Queenstake will issue to AngloGold's
subsidiary, AngloGold (Jerritt Canyon) Corp., 22,400,000 common shares of Queenstake
Resources Ltd. Based on the current market price of Queenstake's common shares, the shares
acquired by AngloGold will represent, between approximately 10.3% and 11.8% (undiluted) of the
outstanding shares after giving effect to the financing. AngloGold does not currently have any
intention to acquire additional shares of Queenstake; depending, however, on the market price of
Queenstake shares, general economic and industry conditions and other factors, and subject to
applicable securities laws, AngloGold may either sell its shares of Queenstake or acquire
additional shares.
All dollar figures herein are expressed in U.S. dollars.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Name: C R Bull
Title: Company Secretary