RNS Number:3985U
Ballarat Goldfields N.L.
20 November 2005

Ballarat Goldfields NL
ASX and Media release: 21 November 2005

                          Placement of Ordinary Shares

Ballarat Goldfields NL (BGF) is pleased to announce that it has undertaken a
multi jurisdictional placement of 150,000,000 fully paid ordinary shares at an
issue price of A$0.30 cents per share to raise approximately A$45 million,
before issue costs. The shares are to be placed with institutional investors by
RBC Capital Markets, acting as global co-ordinator, Numis Securities Limited and
Haywood Securities Inc.

The funds raised by the placement will be applied to exploration and feasibility
of the Ballarat South, Berringa and Ballarat West projects; bringing forward the
Ballarat East gold project; and general working capital purposes.

BGF Managing Director, Richard Laufmann said, "We are delighted to have received
such strong support from a wide panel of major international institutional
investors, in London and North America as well as here in Australia, in a
placement that was two and a half times over subscribed".

The number of shares to be issued falls within BGF's placement capacity and
therefore shareholder approval will not be required.

The placing is subject to the placing agreements between BGF and RBC Capital
Markets, Numis Securities Limited and Haywood Securities Inc becoming
unconditional and not being terminated prior to the issue of the shares.

Dealing in the placement shares is expected to commence on 28 November 2005.

                                      End.

For further information, please visit our website www.ballarat-goldfields.com.au
or contact Joel Forwood, Manager Corporate and Markets, on +61 3 5327 1111.



                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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