RNS Number:0770W
Ballarat Goldfields N.L.
22 December 2005

Ballarat Goldfields NL

ASX and Media release: 22 December 2005

                      Ballarat Goldfields Pours First Gold

Ballarat Goldfields NL (BGF) is pleased to announce that the first gold was
poured on 21 December 2005 as part of the commissioning of the gravity circuit
at Ballarat East. The pour was made on schedule with BGF's accelerated
timetable.

Ballarat Goldfields Managing Director, Richard Laufmann, said, "This is a
significant milestone in the Company's history as BGF begins the transition from
explorer to gold producer, heralding a new era of gold mining in Ballarat."
Ballarat Goldfields re-commenced development at Ballarat East in November 2004
from the existing Woolshed Gully decline and the first stope was accessed in
September 2005. Construction of the processing facilities commenced in July 2005
and the plant is currently commissioning.

"The timetable achieved is testament to the vision, commitment and teamwork of
the Ballarat Goldfields team and the dedication of our contractors and
suppliers", he said. "I don't think this could have been achieved elsewhere in
the country in such a short time frame. The skilled workforce and facilities
available here in Ballarat, along with the strong support of the community are
second to none, and we thank them." Mr Laufmann said.

BGF expects to provide further details in the December Quarterly Activities
Report in January 2006.


About Ballarat Goldfields

Ballarat Goldfields is an Australian gold explorer and developer, with a strong
portfolio of projects primarily focused on the highly prospective Ballarat gold
province in Victoria.

Situated in one of the most famous historical gold mining regions of Australia,
Ballarat produced over 12 million ounces before it's premature closure, around
the time of the first world war.

In 2004, for the first time following discovery in the 1850's, the leases over
the entire Ballarat field were consolidated under the sole ownership of BGF.
This has resulted in the company constructing a comprehensive geological model
of the entire field, demonstrating what many had suspected, that Ballarat had
massive unexplored prospectivity.

BGF completed a pre-feasibility study in 2004 which proposed an initial
underground mine at Ballarat East, with twin access declines servicing the
haulage and ventilation.  The mine, based on BGF's geological model, has a life
of 21 years, and would achieve an average production rate of approximately
200,000 ounces of gold per annum.

For further information on Ballarat Goldfields NL, please visit our website
www.ballarat-goldfields.com.au or contact Joel Forwood, Manager Corporate and
Markets, on 03 5327 1111.



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

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