GFI Gold Fields Ltd

JOHANNESBURG, South Africa, Dec. 21 /PRNewswire-FirstCall/ -- 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. DATASOURCE: Gold Fields Limited CONTACT: South Africa, Willie Jacobsz, +27 11 644-2630, or Fax, +27 11 484-0639, , or Nerina Bodasing, +27 11 644-2460, or Fax, +27 11 484-0639, , or North America, Cheryl A. Martin, +1-303-796-8683, or Fax, +1-303-796-8293, , all of Gold Fields Limited Web site: http://www.goldfields.co.za/

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