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Gold Fields Limited and Gold One International Limited to Investigate a Joint Venture for Retreatment of West Rand Surface Tailings Deposits

January 24, 2012

JOHANNESBURG, January 24, 2012 /PRNewswire/ –

Gold Fields Limited (JSE, NYSE, NASDAQ Dubai: GFI) (“Gold Fields”) and Gold One
International Limited (ASX and JSE: GDO) are pleased to announce that they have entered
into a Memorandum of Understanding (“MOU”) to investigate the viability of concurrently
reprocessing their combined surface tailings deposits, located on the West Rand region of
South Africa’s Witwatersrand Basin. Gold One and Gold Fields currently operate mines on
the West Rand, a region with a long history of gold and uranium mining.

In terms of the MOU, Gold Fields and Gold One (collectively, the “parties”) will
jointly investigate the feasibility of establishing a Joint Venture into which both
parties will contribute surface assets for retreatment. These assets are expected to
comprise in excess of 700 million tonnes and represent over 60% of the total tailings
material in the region. The parties aim to complete a detailed scoping study by the middle
of this year, following which a decision will be taken on whether to progress the study to
a feasibility level.

Should the Joint Venture proceed, the intention is to reclaim and retreat the
historical tailings material and current tailings to recover residual gold, uranium and
sulphur. A key objective of the project will be to address the re-deposition of the
residues in accordance with modern sustainable deposition practices, ultimately supporting
mine closure in an environmentally sustainable manner.

In 2010, Gold Fields completed extensive economic studies on its Tailings Treatment
Project (“TTP”), which is a low-grade gold and uranium recovery project focusing on the
existing tailings storage facilities and the current underground mining horizons of Gold
Fields’ West Rand operations, KloofDriefontein Complex (“KDC”) and South Deep. As at
December 2010, Gold Fields declared a mineral resource of 475.6 million tonnes at its
tailings storage facilities, which includes gold mineral resources of 4.5 million ounces
and uranium mineral resources of 53.6 million pounds.

Gold One advised Gold Fields that on 9 January, 2012, it completed the acquisition of
Rand Uranium (Pty) Limited (“Rand Uranium”). Furthermore, as part of the Rand Uranium
transaction, Gold One established the Randfontein Surface Operations, which are currently
processing approximately 300,000 tonnes of tailings material per month through the Cooke
Gold Plant. Gold One also advised that it had commenced with a review of its Cooke Uranium
Project.

Rand Uranium had earlier completed a comprehensive definitive feasibility study on the
processing of the Cooke Tailings Deposit for the extraction of both gold and uranium
(including 70% of detailed and already completed engineering design). The primary focus of
the feasibility study is the construction of a uranium metallurgical plant to treat the
Cooke Tailings Deposit. In addition, during the December 2011 quarter, Gold One stated
that it commenced assessing the potential treatment of several other surface tailings
deposits that exist on the mining and prospecting licenses acquired from Rand Uranium.

The combined consideration of the Gold One, Rand Uranium and Gold Fields studies, as
well as the possibility of utilising existing and planned metallurgical plant
infrastructure, will allow the companies to significantly fast-track a joint economic
assessment of the reprocessing of the combined tailings deposits.

Gold One President and Chief Executive Officer Neal Froneman comments: “I am excited
about the opportunity of forging a strategic relationship with Gold Fields. Economic
recovery of gold and uranium from historical tailings deposits has been successfully
demonstrated in other districts of the Witwatersrand Goldfields. The combination of our
extensive technical studies and the quality of assets that would be pooled into the
partnership presents an exciting prospect for the Joint Venture and growth of Gold One’s
surface business. Importantly, the economically sustainable retreatment of the existing
tailings deposits will also have a positive environmental impact, benefiting all
stakeholders in the district in which we operate.”

Gold Fields Chief Executive Officer Nick Holland comments: “This is an exciting
opportunity to investigate the feasibility of extracting value from our substantial
surface resources on the West Rand. Gold Fields already has projects in place to retreat
our tailings and the MOU with Gold One allows us to further explore a relatively low risk
opportunity to extract value from Gold Fields’ surface resources that is not inherent in
our share price.”

Notes to editors

About Gold Fields

Gold Fields is one of the world’s largest unhedged producers of gold with attributable
annualised production of 3.5 million gold equivalent ounces from eight operating mines in
Australia, Ghana, Peru and South Africa. Gold Fields also has an extensive and diverse
global growth pipeline with four major projects in resource development and feasibility,
with construction decisions expected in the next 18 to 24 months. Gold Fields has total
attributable gold equivalent Mineral Reserves of 76.7 million ounces and Mineral Resources
of 225.4 million ounces. Gold Fields is listed on the JSE Limited (primary listing), the
New York Stock Exchange (NYSE), NASDAQ Dubai Limited, Euronext in Brussels (NYX) and the
Swiss Exchange (SWX).

Sponsor: J.P. Morgan Equities Limited

        Gold Fields Limited
        Reg. 1968/004880/06
        150 Helen Road,
        Sandown, Sandton,
        2196

        Postnet Suite 252
        Private Bag X30500
        Houghton, 2041
        South Africa

        Tel +27-11-562-9700
        Fax +27-11-562-9838

http://www.goldfields.co.za

        Enquiries

        Investor Enquiries

        Zakira Amra
        Tel +27-11-562-9775
        Mobile +27-79-694-0267
        Email Zakira.Amra@goldfields.co.za

        Willie Jacobsz
        Tel +1-508-839-1188
        Mobile +1-857-241-7127
        Email Willie.Jacobsz@gfexpl.com

        Media Enquiries

        Sven Lunsche
        Tel +27-11-562-9763
        Mobile +27-83-260-9279
        Email Sven.Lunsche@goldfields.co.za

SOURCE Gold Fields Limited


Source: PR Newswire