GFI Gold Fields Ltd

JOHANNESBURG, South Africa, November 29 /PRNewswire-FirstCall/ -- Gold Fields Limited (Gold Fields) (NYSE:GFI)(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. DATASOURCE: Gold Fields Limited CONTACT: Gold Fields: Willie Jacobsz, Tel: +27-11-644-2505, , Nerina Bodasing, Tel: +27-11-644-2630, , Cheryl Martin, Tel: +1-303-796-8683, , Bolivar Gold: Robert Doyle, Tel: +1-416-360-4653,

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