MEDIA RELEASE
GOLD FIELDS ACQUIRES AN
ADDITIONAL 2.3% OF THE SHARES OF
BOLIVAR GOLD CORP
.
JOHANNESBURG, South Africa, December 21, 2005 –
Gold Fields Limited (Gold Fields) (NYSE: GFI; JSE: GFI) announces
that since December 12, 2005 it has acquired a further 2,600,600
common shares (TSX: BGC) of Bolivar Gold Corp. (Bolivar) through
the facilities of the Toronto Stock Exchange. As a result, Gold Fields
currently holds 17,530,444 common shares of Bolivar, representing
approximately 15.5% of the common shares and 6,172,222 warrants
of Bolivar, representing a further approximately 5.1% of the common
shares on a partially diluted basis, resulting in a combined ownership
of 19.85%.
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-
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
Enquiries:
South Africa
Willie Jacobsz
Tel +27 11 644-2630
Fax +27 11 484-0639
williej@goldfields.co.za
Nerina Bodasing
Tel +27 11 644-2460
Fax +27 11 484 0639
Nerina.bodasing@goldfields.co.za
North America
Cheryl A. Martin
Tel +1 303 796-8683
Fax + 303 796-8293
camartin@gfexpl.com