Gold Fields Exploration and

Growth Projects
31 December 2011

2
 Growing Gold Fields Growth and International Projects Objectives
Growing Gold Fields’ does not only
mean achieving our goal of 5 million
ounces in production or development
¨¨ Grow the Gold Fields Mineral Reserve base and gold
production on a per share basis through quality
by 2015. It also means pursuing growth
exploration, discovery and development.
in profitable production, earnings and
returns to shareholders on a per share ¨¨ Deliver the existing international projects toward
basis. Whilst doing so, we are also development and production to contribute towards
‘internationalising’ our production base the goal of increasing international production toward
to establish a truly global presence five million ounces per year by 2015.
beyond our historical foundation in
South Africa. This strategy is taking us ¨¨ Develop a strong steady state pipeline of quality
into new and promising growth greenfields opportunities capable of delivering at least
environments, where we are able to one new resource definition project per year.
leverage our expertise and capital to ¨¨ Establish Gold Fields’ exploration capability in key
expand our production, as well as our
regions identified to offer exceptional prospectivity and
Mineral Resources and Mineral
become the dominant explorer in those camps.
Reserves.
¨¨ Focus on delivering the growth objectives of the three
This growth and diversification is based international regional business units.
on three key activities:
¨¨ Successful greenfields exploration,
both within our established
Australasia, South America and
West Africa Regions, and in highly
prospective locations beyond these
operations in Canada and
Kyrgyzstan
¨¨ Leveraging off our large Mineral
Resource and Mineral Reserve base
through successful near-mine
exploration, for example at Damang
in Ghana, Agnew and St Ives in
Australia and Cerro Corona in Peru
¨¨ Advancing development at our four
resource development and feasibility
projects in Finland, Ghana, Peru and
the Philippines

Gold Fields Limited (the company) is

one of the world’s largest unhedged
producers of gold and is globally
diversified with eight operating mines
and a strong portfolio of exploration
and growth projects. The company is
listed on the JSE Limited (primary
listing), the New York Stock Exchange
(NYSE), the NASDAQ Dubai Limited,
the Euronext in Brussels (NYX) and the
Swiss Exchange (SWX).

Gold Fields: Exploration – Technical Short Form Report 2011 3

Contents Significant milestones

¨ Discovery
 effort anchored by exploration
drilling in excess of 700,000 metres in
2011.
Growing Gold Fields IFC
¨ Delivery
 of a 35% increase in the
1. Overview Page 2 Indicated and Inferred Mineral Resource
at the Chucapaca project in Peru and
2. G
 rowth strategy Page 3 continued work toward completion of a
feasibility study in mid-2012.
3. G
 reenfields exploration Page 4
¨ Continued
 near-mine exploration success
4. International projects Page 5 at St Ives, Agnew and Damang.
4.1 Chucapaca JV Project, Peru Page 5
4.2 Arctic Platinum Project, Finland Page 5 ¨ F
ollowing positive proof-of-concept
4.3 Far Southeast Option, Philippines Page 7
drilling and completion of a scoping study
at the Far Southeast project in the
4.4 Greater Damang Project, Ghana Page 8 Philippines, Gold Fields made a third
down-payment in early 2012 of
5. Advanced drilling projects Page 9 US$110 million to secure a 40%
ownership in the project under the terms
5.1 Yanfolila Project, Mali Page 9 of our option agreement. We aim to
5.2 Woodjam JVs, Canada Page 10 progress to pre-feasibility and report a
maiden Mineral Resource in 2012.
5.3 Talas JV Project, Kyrgyzstan Page 11

6. Initial drilling projects Page 11

¨ Completion
 of full-scale
6.1 Toodoggone JV, Canada Page 11 hydrometallurgical pilot plant testwork at
the APP project in Finland and continuing
6.2 East Lachlan JVs, Australia Page 12 work on a pre-feasibility study to be
6.3 Mankayan Project, Philippines Page 12 completed in late 2012.
6.4 Salares Norte, Piedra, Rio Baker and Pircas Projects, Chile Page 12
6.5 Taguas Project, Argentina Page 13 ¨ Completion
 of resource definition drilling
6.6 Moquegua and Tacna Projects, Peru Page 13 at the Greater Damang Project in Ghana
and continuing work towards completion
6.7 Asheba Project, Ghana Page 13 of a pre-feasibility study by mid-2012.
6.8 Edwenase and Boako Projects, Ghana Page 13
6.9 Gladie Project, Mali Page 13 ¨ Completion
 of an internal scoping study
6.10 Telikan Project, Guinea Page 13 at the Yanfolila project in Mali and
ongoing drilling to define additional
7. Near-mine exploration Page 14 resources on other nearby targets.

7.1 St Ives Gold Mine, Australia Page 14

7.2 Agnew Gold Mine, Australia Page 14 ¨ Completion
 of resource delineation drilling
at the Woodjam project in Canada and
7.3 Damang Gold Mine, Ghana Page 14 declared maiden Inferred Mineral
7.4 Cerro Corona Mine, Peru Page 14 Resource for the South-east zone.
Conceptual study to be completed in early
8. E
 nvironment, health & safety, Page 15 2012.
and sustainable development
Exploration drilling on Pircas Project in Chile (4,575 m AMSL)

9. Community relations Page 15 ¨ Maintained

 a robust pipeline of greenfields
exploration projects in Australia, Canada,
10. K
 ey growth and international projects Page 16
Chile, Argentina, Peru, Ghana, Mali,
management Guinea and the Philippines.

Cover image:
Exploring for prospective ground in Alaska.

Note: For abbreviations refer to page 28

and for glossary of terms refer to page 29
– “Mineral Resources and Mineral
Reserves Overview 2011”.

1
 1. Overview Toodoggone JV
Woodjam JV

Gold Fields’ vision is to become the global leader in

sustainable gold mining. This requires the company to take a
long-term view of its investment strategy and integrate
sustainable development and “responsible gold” Vancouver

considerations into all of its activities, from the earliest stages

Denver
of exploration through to feasibility studies, construction,
mining and, ultimately, to mine closure.

Although Gold Fields is open to the

MAP REFERENCE
acquisition of producing or late-stage
projects, it is believed that effective South Africa
exploration continues to offer the best
West Africa
opportunities for value-adding growth
Cerro Corona
that does not dilute shareholder value. Australasia
This forms the basis for the company’s Hualgayoc JV
South America
aggressive focus on near-mine and
Lima
Tacna
greenfields exploration in the existing Moquegua
countries of operation and beyond. EXPLORATION LEGEND Chucapaca JV
Amantina JV
This approach continues to be  Offices
Rio Baker Taguas JV
vindicated by the ongoing success in ◆ Mines Pircas
Salares Norte
expanding the company’s Mineral
 Near-mine exploration Santiago
Resources and Mineral Reserves.
 Exploration projects
– GFI 100%
– GFI option
– JV GFI operated
– JV partner operated

US$207m – Near mine

Group exploration The diversified nature of the growth The current portfolio of greenfields
C2011 pipeline means that the company has projects includes four advanced
the potential to achieve a significant projects at the resource development
increase in “international” production in to feasibility study stage, three projects
the short, medium and long term, at the advanced drilling (scoping study)
which includes: stage, and a robust pipeline of
¨¨ A number of near-mine exploration earlier-stage initial drilling and target
and organic development definition projects.
opportunities at the existing
4 operations in Australia, Ghana and
Peru; and
Gold Fields is currently exploring in
nine countries on five continents.
Major resource ¨¨ Advanced projects in Finland, Exploration offices are located in Perth,
development and Kyrgyzstan, Mali, Peru, Canada Australia; Baguio, Philippines; Beijing,
feasibility projects and the Philippines. Construction China; Denver, USA; Santiago, Chile;
decisions are expected on at least Lima, Peru; Mendoza, Argentina;
two of these within the next two to Vancouver, Canada; Bamako, Mali;
three years. Accra, Ghana and Bishkek,
Kyrgyzstan.
The Gold Fields Exploration Group is
an integral part of the company’s During 2011 Gold Fields spent a total
35% long-term growth strategy and
incorporates these strategies into its
of US$207 million on exploration,
which included US$132 million on
business worldwide. The successes greenfields exploration and
Increase in Mineral
delivered by the Group in 2011 US$75 million on near-mine
Resources at Chucapaca
demonstrate that exploration exploration.
(December 2010 to
excellence is fundamental for a major
December 2011)
mining company to achieve cost-
effective accretive growth.

Gold Fields: Exploration – Technical Short Form Report 2011 2

 Arctic Platinum

beijing

Yanfolila Mankayan
Kangare Far Southeast
Bamako Manila
Telikan Talas JV
Gladie
Boako Accra Nabire Bakti JV
Tarkwa
Damang Damang

Asheba Edwenase

Agnew
Agnew
JOhannesBURG

South Deep
Kloof-Driefontein Complex (KDC) Perth
Beatrix
Orange
St Ives Delamarian
St Ives

East Lachlan JVs

2. Growth strategy
Grow the Gold Fields Mineral Reserve base and gold production on a per share basis through
quality exploration, discovery and development.

Over the past 10 to 20 years, there has been a notable decline commensurate with their technical, commercial, geopolitical,
in the number of high-quality discoveries made, despite an social and environmental risks.
increase in global exploration expenditures. Known gold
provinces in lower risk jurisdictions have become very mature The company has targeted opportunities within the three
and traditional exploration methods less and less effective. international operating regions of South America, West Africa
With this backdrop, the renewed commodity boom has made and Australasia, as well as new frontiers such as North
it easier for junior companies to raise money and the level of America, Kyrgyzstan and China. By focusing on these regions,
competition for a smaller number of quality advanced projects not only is the exploration effort more likely to succeed, delivery
has sharply increased. Consequently these better projects are of growth is assisted by leveraging existing resources and
now fully valued, if not overvalued. infrastructure. The Exploration Group has made a priority of
furthering near-mine exploration around the Gold Fields
Gold Fields’ growth strategy has therefore become more operations in Australia, Ghana and Peru – based on the
focused on creating its own high-quality opportunities through philosophy that the best place to find gold is near a gold mine.
an aggressive greenfields exploration programme. This Near-mine exploration is focused on delivering the option value
requires timely and disciplined assessment of opportunities at of the company’s sites and providing a robust platform for
a somewhat earlier stage in the process. The Exploration regional growth.
Group leverages its technical excellence in area selection to
improve the likelihood of success and significantly reduce In order to position Gold Fields for the longer term, the
project development timelines. This exploration focus is company is also establishing its exploration efforts in a few key
expected to grow the Gold Fields Mineral Reserves and gold prospective geological belts where it can be established as a
production on a per share basis and thereby capture dominant player. This effort will centre on new exploration
significant value for the company’s shareholders. search spaces which are underexplored and often have never
seen a drill bit.
Gold Fields’ exploration opportunity selection strategy is based
on a measured and thoughtful approach. The goal is to strike Gold Fields maintains rigorous quality assurance and quality
the appropriate balance between size, quality and the various control (QAQC) protocols on all of its exploration programmes
risks associated with the opportunity. These trade-offs are using best industry practice in data acquisition, accredited
continually re-assessed as the projects advance through the laboratories and having sign-off by Competent Persons under
development pipeline to ensure that their economic potential is the SAMREC 2007 and JORC 2004 Codes.

3
 3. Greenfields exploration
Gold Fields spent $132 million on greenfields exploration projects exclusive of its international
projects and near-mine exploration programmes during 2011.

Gold Fields operates a disciplined greenfields exploration To be successful, targets need to be drill-tested and advanced
project management system with clear decision points based to the next exploration phase. There is a strong focus on
on the discovery potential and economics of a target. turning over targets as effectively as possible by drill-testing
and progressing targets up the pipeline in a timely manner.
Construction Decision
positive feasibility study
1 Greenfields exploration targets are generated by reviewing and
BFS
Indicated and Inferred
ranking the most prospective terrains across the world and
Resources exploration areas are selected after considering country risk
positive prefeasibility study urce t
Resoelopmen and strategic fit. Each exploration region continuously monitors
3 Dev
and reviews opportunities, targeting projects at all stages of
GFI Target Confirmed
ling development.
positive scoping study Dril
nc ed
Adva
3
When evaluating new advanced opportunities or assessing
Economic Intersection conceptual targets, various metrics are used in addition to
with requisite size potential g
llin geological criteria, which include Mineral Reserve and
Dri
ial
40 Init production potential, margin, payback period, initial capital
costs, development timelines, net asset value, earnings and
Bedrock Drill Target n
defined and available itio cash flow.
e fin
e tD
85 g
Tar The table below provides a breakdown of the number of
targets in Gold Fields’ three main exploration regions, as well
as targets in North America and the rest of the world, for each
of the five stages of the resource triangle as of December 31,
The progressive stages of an exploration target’s
2011. The table does not include near-mine exploration
development are illustrated in the diagram above, with the
projects on sites adjacent to Gold Fields’ existing operations.
number of current projects shown in each stage.

Stage Africa Australasia South America Rest of world Total

Feasibility study 0 0 1 0 1
Resource development 1 1 0 1 3
Advanced drilling 1 0 0 2 3
Initial drilling 11 17 9 3 40
Target definition 46 21 17 1 85
Logging core at APP

Gold Fields: Exploration – Technical Short Form Report 2011 4

 4. International projects
Chucapaca JV Project, Peru
(51% Gold Fields)
In February 2010, Gold Fields, through its exploration (platinum group element) deposits located within the Portimo
subsidiary, Minera Gold Fields Peru S.A., completed its and Narkaus mafic layered intrusions. Starting in January
back-in right to earn a 51% interest in the Chucapaca joint 2000, the initial exploration and project development focus
venture project with Compania de Minas Buenaventura was on the Konttijarvi and Ahmavaara deposits, collectively
S.A., or Buenaventura, in southern Peru. Gold Fields and referred to as the Suhanko Project. Gold Fields completed a
Buenaventura have registered Canteras del Hallazgo S.A.C., mill – float – smelter feasibility study for the Suhanko Project
or CDH, as the joint venture company to hold, explore and in the third quarter of fiscal 2005 and, based on the results of
potentially develop the Chucapaca gold-copper property. the study, decided to postpone the development of a 10Mtpa
Following completion of a scoping study in 2010 and surface mining complex.
declaration of a maiden Mineral Resource, Gold Fields
through CDH commenced a feasibility study for the On 24 March 2006, an Acquisition and Framework
Canahuire deposit of the Chucapaca Project. Agreement, or Acquisition Agreement, was entered into
between North American Palladium Limited, or NAP, Gold
Gold Fields is making progress towards completion of the Fields Exploration BV, Gold Fields Finland Oy and North
Canahuire feasibility study and submission of an American Palladium Finland Oy to form a joint venture to
environmental impact assessment (EIA) targeting a advance the exploration and development of a mine at APP.
development decision this year. A total of 12 drill rigs have The Acquisition Agreement granted NAP an option to acquire
been on site during 2011 working on infill and geotechnical up to a 60% undivided interest in APP, including all of the
drilling within the Canahuire resource area. Results proved Suhanko, SJ Reef and SK Reef mining properties and claims,
consistent with expectation and an updated resource upon satisfaction of certain conditions on or before
estimate was released in the third quarter of 2011. The final 31 August 2008. During the option period, NAP was the
resource model for the feasibility study is planned for the operator with the responsibility to manage and fund the
second quarter of 2012. Additional drilling completed project. On 10 September 2008, NAP declined to exercise its
included sterilisation drilling and additional holes for right to acquire 60% of APP and the project reverted
metallurgical samples. Metallurgical variability tests have unencumbered to Gold Fields.
been completed and a metallurgical optimisation study is in
progress. The results of this work will feed into the plant In 2009, Gold Fields investigated Platsol® hydrometallurgical
throughput and process design for the EIA and the feasibility processing, instead of off-site contract smelting, for recovery
study. Baseline work for the EIA is expected to be of copper, nickel, gold and PGE from Suhanko flotation
completed in the first half of 2012. The company has concentrates. The initial metallurgical tests in 2009 returned
established formal access agreements with the local positive results and further engineering work was conducted
communities. A significant sustainable development to provide indicative operating and capital cost estimates for
programme has been implemented including the hiring and hydrometallurgical processing on a commercial scale at
training of local employees and development and Suhanko.
improvement of local infrastructure.
Gold Fields proceeded to fullscale Platsol® pilot plant test
work in 2011. A total of 100 tonnes of sample material was
Arctic Platinum Project, Finland collected from purpose drilled core holes comprising
(100% Gold Fields)
50-tonne samples from each of Konttijarvi and Ahmavaara.
The Arctic Platinum Project, or APP, is located approximately Samples were processed to concentrate at the pilot flotation
60 kilometres south of the city of Rovaniemi in northern plant operated by GTK Outokumpu in Finland, and the
Finland. APP is assessing a number of shallow Cu – Ni – PGE concentrate products were then shipped to SGS Lakefield in

Chucapaca project, Canahuire deposit (Sept 2011)

Tonnes (Mt) Au & Ag = g/t Cu = % Au & Ag = ’000oz Cu = Mlb
Mineral Resource Dec Dec June Dec Dec June Dec Dec June
Classification (managed) 2011 2010 2010 2011 2010 2010 2011 2010 2010
Indicated – Gold
Indicated – Silver
Indicated – Copper
} 92.6 – –
1.45
11.61
0.09
–
–
–
–
–
–
4,315
34,550
179
–
–
–
–
–
–
Total Eq Au Oz (Au+Ag+Cu)
Indicated 92.6 – – 1.83 – – 5,451 – –
Inferred – Gold
Inferred – Silver
Inferred – Copper
} 40.2 83.7 83.7
1.36
8.94
0.09
1.90
8.20
0.09
1.90
8.20
0.09
1,756
11,543
75
5,113
22,066
166
5,113
22,066
166
Total Eq Au Oz (Au+Ag+Cu)
Inferred 40.2 83.7 83.7 1.69 2.09 2.09 2,178 5,639 5,639
Grand total Eq Au Oz
(Au+Ag+Cu) 132.7 83.7 83.7 1.79 2.09 2.09 7,628 5,639 5,639
Note: These Mineral Resources are not Mineral Reserves as an assessment to a minimum of a prefeasibility study is required. Attributable metal to Gold Fields and Buenaventura is
3.9 Moz gold equivalent (Au Eq) and 3.7 Moz Au Eq, respectively. The Mineral Resource is reported at a 0.54g/t Au Eq cut-off grade constrained within a diluted optimised pit shell.
The pit shell is based on a price assumption of US$1,450/oz gold, US$3.90/lb copper and US$27.50/oz silver. Gold equivalent grade is calculated based on gold, silver and copper
grades normalised to differential metal prices. The Mineral Resource estimate, which is reported in accordance with the South African Code for the Reporting of Exploration Results,
Mineral Resources and Mineral Reserves (SAMREC Code — 2007 edition) is reported without dilution or ore loss. Some figures may not sum exactly due to rounding.

5
Canada for pilot plant Platsol® test work. All test work
demonstrated that the process can provide a viable
processing option for the recovery of precious and base
metals from Suhanko concentrates.

Under the base case, operating and capital cost assumptions

Outcropping PGE-Cu sulphide veinlets

of a hydrometallurgical scoping study, which was started in

from the Konttijarvi Deposit, Arctic

April 2011, the economics of the Suhanko Project are likely to
be relatively marginal during the early stages of production.
Nonetheless, there are several other mineral resource

Platinum Project, Finland

positions that could considerably improve the project’s
economics, by providing additional sources of ore and
increased mining flexibility, and by extending the overall life of
the mine. These resource positions require metallurgical tests
to develop the flotation and hydrometallurgical recoveries,
and additional resource definition drilling to firm up on the
earlier exploration results.

Additional work completed in 2011 included preparation of

an EP amendment for Platsol® hydrometallurgical processing
of concentrates at Suhanko, and start of resource definition
drilling at the Suhanko North prospect which is located
five to six kilometres from the proposed Suhanko plant site. It
is expected that this drilling and evaluation would be
completed by May 2012. Drilling, additional metallurgical test

Winter drilling – Suhanko North

work and ongoing mining and project engineering studies will
continue through 2012 with the intention of completing a
pre-feasibility study by end 2012.

Subject to completion of the pre-feasibility engineering and

cost studies, there is opportunity for APP to be among the
lowest operating cost producers in the PGE industry. APP is
located in a strong and stable operating environment with a
sound mining regulatory framework.

2PGE/Au (g/t) 2PGE/Au (’000 oz)

Tonnes (Mt) Cu/Ni (%) Cu/Ni (Mlb)
Suhanko1 Dec Dec June Dec Dec June Dec Dec June

}
Classification (managed) 2011 2010 2010 2011 2010 2010 2011 2010 2010
Measured-2PGE + Au 2.26 2.34 2.34 3,398 2,906 2,906
Measured-Gold 0.16 0.15 0.15 239 186 186
Measured-Platinum 0.41 0.44 0.44 623 546 546
46.7 38.6 38.6
Measured-Palladium 1.69 1.75 1.75 2,537 2,172 2,172
Measured-Copper 0.25 0.23 0.23 267 195 195

}
Measured-Nickel 0.11 0.10 0.10 110 85 85
Indicated-2PGE + Au 1.78 1.83 1.83 2,324 2,826 2,826
Indicated-Gold 0.16 0.14 0.14 192 216 216
Indicated-Platinum 0.30 0.32 0.32 399 493 493
40.9 47.9 47.9
Indicated-Palladium 1.32 1.37 1.37 1,733 2,109 2,109
Indicated-Copper 0.24 0.24 0.24 221 253 253

}
Indicated-Nickel 0.08 0.09 0.09 74 95 95
Inferred-2PGE + Au 1.72 1.74 1.74 1,374 1,806 1,806
Inferred-Gold 0.14 0.14 0.14 112 146 146
Inferred-Platinum 0.32 0.31 0.31 255 322 322
24.8 32.4 32.4
Inferred-Palladium 1.28 1.29 1.29 1,009 1,343 1,343
Inferred-Copper 0.22 0.21 0.21 119 150 150
Inferred-Nickel 0.08 0.07 0.07 44 150 150

Gold Fields: Exploration – Technical Short Form Report 2011 6

 2PGE/Au (g/t) 2PGE/Au (’000 oz)
Tonnes (Mt) Cu/Ni (%) Cu/Ni (Mlb)
Suhanko1 Dec Dec June Dec Dec June Dec Dec June

}
Classification (managed) 2011 2010 2010 2011 2010 2010 2011 2010 2010
Total-2PGE + Au 1.97 1.97 1.97 7,096 7,538 7,538
Total-Gold 0.16 0.14 0.14 543 548 548
Total-Platinum 0.36 0.36 0.36 1,277 1,361 1,361
112.5 118.9 118.9
Total-Palladium 1.48 1.47 1.47 5,279 5,624 5,624
Total-Copper 0.24 0.23 0.23 607 598 598
Total-Nickel 0.09 0.09 0.09 228 330 330
Tonnes (Mt) 2PGE + Au (g/t) 2PGE + Au (’000 oz)
SKReef2 Dec Dec June Dec Dec June Dec Dec June
Classification (managed) 2011 2010 2010 2011 2010 2010 2011 2010 2010
Measured – – – – – – – – –
Indicated 6.1 6.1 6.1 3.55 3.50 3.50 696 696 696
Inferred 43.3 43.3 43.3 3.14 3.10 3.10 4,367 4,367 4,367
Total SK Reef (2PGE + Au) 49.4 49.4 49.4 3.19 3.20 3.20 5,063 5,063 5,063

Tonnes (Mt) 2PGE + Au (g/t) 2PGE + Au (’000 oz)

Total APP *
Dec Dec June Dec Dec June Dec Dec June
Classification (managed) 2011 2010 2010 2011 2010 2010 2011 2010 2010
Measured 46.7 38.6 38.6 2.26 2.34 2.34 3,398 2,906 2,906
Indicated 47.0 54.0 54.0 2.01 2.02 2.02 3,020 3,522 3,522
Inferred 68.1 75.7 75.7 2.62 2.53 2.53 5,741 6,173 6,173
Grand total (2PGE + Au) 161.9 168.3 168.3 2.34 2.33 2.33 12,159 12,601 12,601
Models updated in 2011 using new estimation methods, modified geological interpretations and modified resource classification based on new information. Reported at a
1

1.0g/t 2PGE+Au cut-off in compliance with Gold Fields best practice, based on long term resource metal price assumptions and scoping level modifying factors (mining and
processing costs). Average Pd/Pt ratio of 4.2:1
Unconstrained total Mineral Resources as reported in 2005. Flotation studies demonstrate recoveries are similar to Suhanko Engineering studies require completion of Platsol®
2

hydrometallurgical testing. SK Reef Mineral Resources are reported above a 1.0g/t 2PGE+Au cut-of for above 100m depth, and at a 2.0g/t 2PGE+Au cut-off for areas deeper
than 100m. Average Pd/Pt ratio of 3.7:1

Far Southeast Option, Philippines TUBO SHAFT

CROSS FAULT

(option for Gold Fields to acquire 60%) 1400 m

Far Southeast project, Philippines: schematic section

On 20 September 2010 Gold Fields entered into two option
1200 m
agreements with Lepanto Consolidated Mining Company
(Lepanto), 60% owner, and Liberty Express Assets (Liberty), 1000 m
40% owner of the undeveloped gold-copper Far Southeast 900 LEVEL
800 m
deposit (“FSE”), granting Gold Fields an option to acquire a 700 LEVEL
60% interest in Far Southeast for a total consideration of 600 m
% Cu EQUIVALENT ROCK TYPE
US$340-million. After making two down-payments of Or = to 2.00 Bato dacite pyroclastics

US$44-million and US$66-million in September 2010 and 1.50 - 1.99

1.00 - 1.49
Hydrothermal breccia
Imbanguila dacite porphyry
September 2011 respectively, Gold Fields decided to bring 0.70 - 0.99 Imbanguila dacite porphyry
200 m
forward half of the remaining US$220-million payment to Enargite ore
Quart diorite porphyry
Balili volcaniclastics
acquire Liberty’s 40% interest in Far Southeast. Gold Fields Fault
Level drive Lepanto metavolcanics SEA LEVEL

continues to hold its option to acquire an additional 20%

FSE Au-Cu TARGET
0 200 400m
stake in Far Southeast from Lepanto for a further
W50

E250

400

E700

US$110-million, which, if exercised, would increase its total

interest in Far Southeast to 60%.
Liberty option earlier than originally planned due to the fact
The Liberty and Lepanto options were initially granted to Gold that: due diligence results and a scoping study completed
Fields for the later of 18 months from signature in September during 2011 proved positive and demonstrated significant
2010 or the date of receiving a Financial or Technical upside to the resource potential; by acquiring ownership of
Assistance Agreement (FTAA) for the project. A FTAA licence 40% Gold Fields was able to demonstrate its commitment to
allows a foreign corporation to control a majority interest in a the project and formalise its partnership with Lepanto; and
Philippine mining project. Notwithstanding this provision, the early exercise of the Liberty option does not affect the
Gold Fields had the discretion to exercise either option prior remaining 20% Lepanto option, which continues to be
to the FTAA being granted and decided to exercise the exercisable in accordance with the terms of the agreement.

7
The FTAA application for the Far Southeast project was filed Greater Damang Project, Ghana
in November 2011 and based on the date of the filing Gold (90% Gold Fields)
Fields expects it could be granted in the second half of 2012.
Gold Fields also expects to have a maiden Resource The Greater Damang Project comprises a pre-feasibility study
statement for Far Southeast and commence a pre-feasibility aiming to develop a large cut-back on the existing Huni-
study later this year Damang-Juno deposits at the Damang Gold Mine (Abosso
Gold Fields Ltd) in south-west Ghana. A potential “Superpit”
During 2011, eight underground diamond drill rigs operated at of almost 3.5-kilometre length was identified in 2010 following
FSE from an underground drilling platform on the 700-metre conceptual modelling of the deposit, and confirmed as
level of the existing Lepanto Mine. Activities were suspended in potentially viable by a 25,000-metre proof of concept drilling
October following a rush of water from historic mine workings programme completed in May 2011.
which flooded pumping facilities and subsequently the drilling
platforms. Drilling will recommence in Q1 2012. Following completion of the initial proof of concept drilling
programme (25,000 metres) in May a second phase of drilling
Nearly 31,000 metres of drilling had been completed to was completed in October 2011. An additional 38,000m of
December 31, 2011. Early drill results support the existence resource definition drilling confirmed the extent of
and extent of the known core of mineralisation and have mineralisation consistent with current mined ores over the
identified further extensions, both laterally and at depth, entire 3.5km strike length and at depths of up to 500 metres
outside of the main central zone of higher-grade below the current pit floor.
mineralisation. Drilling will continue to scope the system and
infill to a suitable level for resource definition and Gold Fields New geological models incorporating data from the additional
plans to report a maiden resource in 2012. drilling, and subsequent evaluation, contributed to an
updated Mineral Resource for the Greater Damang Project of
In addition to the resource definition drilling and as part of the 7.4 million ounces. Final pre-feasibility study optimisation will
Scoping Study of Gold Fields, a geotechnical programme be completed using the updated models in 2012. Additional
was completed as well as studies on hydrogeology, mining study aspects including design and financial evaluation of the
methods and potential sites for tailings disposal and new processing facilities capable of supporting increased
infrastructure. Surface diamond drilling for geotechnical production rates will also be finalised. The project is
purposes also commenced late in 2011. The community progressing to schedule aiming for completion of the
relations team has ramped up activities in the district and pre-feasibility studies in 2012.
initiated a number of sustainable development programmes
in partnership with the local communities.

Huni Pit
Juno Pit Main Damang Pit
Schematic 3D model of the Greater Damang Project

Borehole traces Pit Outline Au Mineralisation

Gold Fields: Exploration – Technical Short Form Report 2011 8

 5. Advanced drilling projects
Yanfolila Project, Mali (85% Gold Fields)
In south-western Mali, Gold Fields is exploring the Yanfolila

Drill core from the Komana East deposit, Komana Project, Yanfolila, Mali
and adjacent Kangare gold projects. Yanfolila is an advanced
drilling stage project which comprises 97,600 hectares of
concessions covering several mineralised areas, including the
Komana East, Komana West, Kabaya South and Solona
targets. Gold Fields owns an effective 85% of the Yanfolila
properties. As of December 2010, Gold Fields had completed
a total of 88,000 metres of reverse circulation and diamond
drilling on the Yanfolila project and delineated SAMREC
compliant pit-constrained resources of 740,000 ounces of
gold at an average grade of 2.5g/t gold in the Komana East
and Komana West deposits. Activities completed during
2011 contributed to the completion of an internal scoping
study in Q3 2011 which indicated that the project needed at
least 1.5 million ounces of pit-constrained gold resources to
be economically viable. Additional drilling is in progress on the
most prospective targets outside of the Komana East and
Komana West area, aiming to identify additional resources
which would have potential to extend the resource base and
life of a greater Komana project.

Yanfolila Inferred Mineral Resources

Deposit Tonnes (Mt) Gold grade (g/t) Gold metal (koz)
(Managed)
Komana East 5.1 2.5 411
Komana West 4.0 2.6 330
Total 9.1 2.5 740
These Mineral Resources are not Mineral Reserves as an assessment to a minimum of a prefeasibility study is required. The Mineral Resource estimate, which is reported in
accordance with the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves, 2007 edition (SAMREC Code), is reported without
dilution or ore loss within an optimised pit shell at a 0.41 g/t Au cut-off grade. A gold price of US$1,100/oz Au is used in the estimate. Some figures may not sum exactly due to
rounding.

The Kangare project is located immediately north of Yanfolila and comprises 118,900 hectares of granted concessions and
applications at the target definition and initial drilling stage. Gold Fields owns an effective 90% of the Kangare properties. Gold
Fields has completed extensive geophysical and geochemical surveys and aircore drilling to define several gold targets. Initial
bedrock drilling using combined reverse circulation and diamond drilling at the Tinguele target in August 2011 defined a large
gold-bearing system. Follow-up drilling is in progress.

535000 540000 545000 550000 555000 560000

Gold in soils for the Farassaba Area, Komana Project, Yanfolila, Mali. Illustrating
>10km long soil anomaly with relevant drill target areas subject of the 2011-12

N Sanoumale
10 kilometres West
1225000 1230000

1225000 1230000

Guirin Diarani
West Komana East
Komana West
Mali
Gonka

Favourable
Kabaya mineralised 25km radius
South corridors
Badogo Malikila
p Exploration Licenses Kabaya South
p License Applications

RC Drilling Target
(Aircore Completed) Farassaba Dalanda
Main N
1220000

1220000

Aircore Drilling Target Dalanda

Link

Dalanda
South
1215000

1215000

YFR01
drilling campaign
1210000

1210000

Farassaba Gold in Soils – Komana Project

535000 540000 545000 550000 555000 560000

9
Woodjam JVs, Canada (Gold Fields earning into 70%)
In central British Columbia, Canada, Gold Fields is exploring earn an initial 51% interest in the property, which has been
the Woodjam project for copper-gold porphyry deposits. The approved by the partners. It has also completed 1,751 metres
project comprises two separate joint venture agreements of diamond drilling on the adjacent Rand option and 2,174
which were signed in July 2009 and May 2010 respectively metres of diamond drilling on the Redgold property.
with Fjordland Exploration Inc. and Cariboo Rose Resources
to earn up to 70%. In November 2011, Fjordland Exploration The Rand option was signed in late 2010 with Teslin River
and Cariboo Rose completed a “plan of arrangement” which Resources (Teslin). The Rand property is adjacent to but not
spun out their combined share of the Woodjam project into included in the Woodjam North Joint Venture. The deal terms
Consolidated Woodjam Copper Corp. (WCC.V), a separate allow Gold Fields to earn-in to an 80% interest through the
company now listed on the TSX Venture Exchange. The following stages of exploration expenditures on the property
property comprises some 56,800 hectares covering several and cash payments to Teslin:
known porphyry copper and gold targets including the SE ¨¨ C$25,000 cash payment upon signing;
Zone, Takom, Megabuck and Deerhorn zones. Additional ¨¨ C$1 million expenditure over the first three years including
prospective third-party concessions totalling 2,150 hectares a minimum of C$250,000 in year 1 for 51%;
within the project area were optioned during 2011 and have ¨¨ C$1.5 million expenditure over the years 4 and 5 for an
been incorporated into the joint venture. In July 2011, Gold additional 19% (to a total of 70%);
Fields also signed a joint venture agreement to earn up to ¨¨ Completion of a Bankable Feasibility Study capped at
70% of the nearby 8,902 hectare Redgold copper-gold C$20 million over the subsequent five years plus a final
property which is owned by two private individuals. cash option payment of C$400,000 for an additional 10%
(to a total of 80%); and
In January 2011, the Woodjam Project was promoted to the ¨¨ Teslin will retain a 2% NSR of which one half (1%) can be
advanced drilling stage based on positive results of the initial purchased by Gold Fields for C$1 million.
drilling programmes in 2009 and 2010. As of November 2011,
Gold Fields had completed a total of 53,534 metres of Gold Fields delivered a maiden Mineral Resource on the
diamond drilling and 173 metres of reverse circulation drilling South East Zone in December 2011 and a conceptual study
on multiple targets within the Woodjam Project and of the combined Woodjam Project will be finalised in the first
consequently has completed the expenditure requirements to quarter of 2012.

0
-5 -1
7 1
11 -5 14 3
SE 10 11 0- -3 49 7
SE SE 1 11 1- 0-0
1,000 m SE SE 1 1
SE SE Resource Pit

Long section illustrating resource block model with NSR value over local
Overburden
Fine Quartz
Monzonite

geology, South East Zone,Woodjam Project, BC, Canada

800 m
Inferred Fault

Medium
Quartz
600 m Monzonite

Model NSR Value1

400 m
$25
$17 - $25
Coarse Quartz Monzonite $12 - $17
250 m $7.50 - $12

Woodjam Inferred Mineral Resources

Classification (Managed) Tonnes (Mt) Cu % Cu Mlb
Inferred copper (SE zone) 146.5 0.33 1,060
Note: These Mineral Resources are not Mineral Reserves as an assessment to a minimum of a prefeasibility study is required. Gold Fields holds a 51% interest in the project with
attributable metal of 541Mlb of copper. The Mineral Resource is reported at a US$7.50 NSR cut-off constrained within a diluted optimised pit shell. The pit shell is based on price
assumptions of US$1,450/oz gold and US$3.90/lb copper. The Mineral Resource estimate, which is reported in accordance with the South African Code for the Reporting of
Exploration Results, Mineral Resources and Mineral Reserves (SAMREC Code – 2007 edition) is reported without dilution or ore loss. Some figures may not sum exactly due to
rounding.
The NSR block values per tonne were calculated for the Inferred materials in the model by multiplying the copper grade by the recovery, then by the metal price and then
1 

subtracting the smelting and refining costs. A copper price of $3.90/lb and an average copper recovery of 82% were used in NSR calculation.

Gold Fields: Exploration – Technical Short Form Report 2011 10

Talas JV Project, Kyrgyzstan (Gold Fields 60%)
In north-western Kyrgyzstan, Gold Fields owns a 60% averaging 0.5 g/t gold and 0.17% copper. The gold
interest in the Talas joint venture with partner Orsu Metals equivalent ounces have been recalculated using the new
Corporation. The Talas JV covers four exploration licences metal prices as at 31 December 2011 with a similar outcome.
which are prospective for copper-gold porphyry deposits. Due to ongoing social and political unrest in Kyrgyzstan
Most of the exploration work completed to date has focused which began with a revolution in April 2010, field work has
on the Taldybulak copper-gold deposit that is located on the been suspended. In October 2011, a new President was
Taldybulak licence, which is one of four licences controlled by elected and he is now consolidating his new government.
the joint venture. As of the end of 2010, a total of about Gold Fields and its partner will continue to monitor the
30,000 metres of diamond drilling had been completed on situation and make a decision on the way forward once more
the Taldybulak deposit to delineate a SAMREC compliant clarity is obtained.
copper-gold resource of 11.7 gold-equivalent ounces

Talas project (% Gold Fields 60%)

Au = ’000oz, Cu = Mlb and
Tonnes (Mt) Au = g/t, Cu = % and Mo = % Mo = Mlb

Mineral Resources Dec Dec Jun Dec Dec Jun Dec Dec Jun
classification (managed) 2011 2010 2010 2011 2010 2010 2011 2010 2010

}
Indicated – gold 0.6 0.6 0.6 2,600 2,600 2,600

Indicated – copper 127.0 127.0 127.0 0.2 0.2 0.1 477 477 477

Indicated – molybdenum 0.01 0.01 0.01 29 29 29

Total Eq Au Oz (Au+Cu+Mo)
Indicated 127.0 127.0 127.0 — — — 4,223 4,228 4,228

}
Inferred – gold 0.4 0.4 0.4 3,710 3,710 3,710

Inferred – copper 296.0 296.0 296.0 0.2 0.2 0.1 1,098 1,098 1,098

Inferred – molybdenum 0.01 0.01 0.01 69 69 69

Total Eq Au Oz (Au+Cu+Mo)
Inferred 296.0 296.0 296.0 — — — 7,472 7,477 7,477

Grand Total Eq Au Oz
(Au+Cu+Mo) ID & IF 423.0 423.0 423.0 — — — 11,695 11,705 11,705
These Mineral Resources are not Mineral Reserves as an assessment to a minimum of a prefeasibility study is required. The Mineral Resource estimate, which is reported in
accordance with the South African Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves, 2007 edition (SAMREC Code), is reported without
dilution or ore loss.
The Mineral Resources are constrained within an optimised open pit shell developed using scoping-level study parameters including mining, processing and administration cost
estimates; mining parameters; and process recoveries for gold, copper and molybdenum. Commodity prices used in this study are US$1,450/oz gold, US$3.90/lb copper and
US$17/lb molybdenum. Some figures may not sum exactly due to rounding.

6. Initial drilling projects

Toodoggone JV, Canada
(Gold Fields earning into 75%)
Exploration in British Columbia, Canada

In northern British Columbia, Gold Fields is earning up to

a 75% interest in Cascadero Copper Corporation’s
Toodoggone copper and gold property. The initial diamond-
drilling programme was concluded in October 2009. In June
2011, a helicopter-supported diamond drilling programme
(2,448 metres in seven holes) was completed on the Mex
porphyry copper-gold target which had not been drilled in the
2009 campaign. Assay results are mixed at this stage and a
follow-up drilling programme is planned in 2012.

11
 East Lachlan JVs, Australia (80% Gold Fields) Mankayan copper-gold project located on Luzon Island in the
Philippines. The Mankayan project is immediately adjacent to
In the East Lachlan Fold Belt of New South Wales, Australia, the Far South east project and contains a significant buried
Gold Fields holds an 80% interest in six project areas gold-copper porphyry deposit located at Guinaoang about
(Wellington North, Cowal East, Jemalong, Moorefield, Parkes- four kilometres east of the FSE deposit. Diamond drilling is
Clancy and Parkes-Centaurus) and has completed the 51% planned at Mankayan in 2012.
earn-in of a potential 80% on the Myall JV. Gold Fields has
expanded its own ground position in this world-class Au-Cu
porphyry belt with the addition of four new project areas in its Salares Norte, Piedra, Rio Baker and Pircas
own right and now holds approximately 2,100km2 in the belt. Projects, Chile (options for 100% Gold Fields)
A substantial full field air-core drilling programme remains In Chile, Gold Fields has an option agreement with
ongoing at the Myall concession focussed on the discovery SBX Asesorias e Inversiones, a private Chilean company,
of concealed porphyry gold-copper systems that have which allows Gold Fields the option to acquire 100% of two
breached the palaeosurface. Elsewhere in the belt, 14 initial properties, Salares Norte and Piedra. At Salares Norte, Gold
drill targets have been tested in C2011 with encouraging Fields completed an initial reverse circulation drilling
results. Focused target definition work consisting of airborne programme in April 2011. The 933-metre programme
and ground geophysical surveys and auger drilling coupled consisted of three widely-spaced holes which tested
with multi-element and multi-spectral ASD analysis is combined geophysical and soil geochemical anomalies
revealing a number of porphyry-related anomalies at the considered prospective for epithermal gold-silver
Wellington North project. Further work at the Cowal East JV mineralisation. Results were encouraging and follow-up
is identifying both epithermal Au and porphyry Cu-Au targets. diamond drilling commenced in December 2011.
These and other targets are scheduled for initial drilling in
early C2012 while greenfields target definition work In May 2011, an option agreement was signed with S.L.M.
continues. Rio Baker, a private Chilean company, which allows
Gold Fields the option to acquire 100% of the Rio Baker
Mankayan Project, Philippines property which is adjacent to the west of Salares Norte.
(Gold Fields option to acquire 100%) Target definition work consisting of geological mapping, soil
In September 2011, Gold Fields signed an option agreement sampling and geophysical surveys is in progress and initial
with Bezant Resources PLC to acquire 100% of the drilling is scheduled for early 2012.

267800 268000 268200 268400 268600 268800 269000

N
1862600

FSE
Guinaoang
1862200 1862400

TGF-34 TGF-28 TGF-30 Baguio

 
BRC-56
(!(!
PFC-46 TGF-38 TGF-33 TGF-26
   

BRC-55
PFC-48 PFC-43 TGF-29  TGF-27
 
  THM-25 Manila


TGF-35 
PFC-40 PFC-47 Legend
BRC-52   THM-15 

Bato dacite porphyry
THM-23
BRC-54
1862000

 
TGF-31 MMD-03
BRC-50 PFC-44 Diatreme
 PFC-39
 THM-19
PFC-42 MMD-11 Imbanguila dacite pyroclastic
THM-13
Ò
Ò
Ò
Ò
Ò

Quartz diorite porphyry

Ò
Ò
Ò
Ò
Ò

THM-24 THM-12
Ò
Ò
Ò
Ò
Ò

MMD-04  MMD-05
Ò
Ò
Ò
Ò
Ò

  TGF-32

MMD-10 Ò Ò Ò Ò
Balili volcaniclastic
BRC-57
Ò Ò Ò Ò
THM-22 Ò Ò Ò Ò

PFC-45
1861800

Ò Ò Ò Ò

MMD-02   PFC-49 Fault


 THM-18
BRC-58  ¤! DDH
THM-14 0.3 % Cu @ 900m asl
MMD-01 THM-17

THM-16 MMD-06
1861600

MMD-08 THM-21

BRC-51  MMD-09

MMD-07  THM-20
BRC-53
Geology of Mankayan Project

1862400

TGF-36
1861200

0 200 400
Metres

267800 268000 268200 268400 268600 268800 269000

Gold Fields: Exploration – Technical Short Form Report 2011 12

 Gold Fields also has an option to acquire 100% of the nearby commenced on the Chapi Chiara epithermal gold target
Pircas gold property held by S.C.M. Aguas Heladas, a private which is part of the Amantina joint venture signed with Vena
Chilean company. In May 2011, a follow-up reverse Resources Inc. to earn up to a 70% interest. The Amantina
circulation drilling programme on the main breccia target was joint venture property is contiguous with the Moquegua
suspended by early winter snowstorms. This drilling project. This drilling programme will continue in the first
programme will resume in 2012. quarter of 2012.

Asheba Project, Ghana (90% Gold Fields)

Geologist inspecting field samples, Salares Norte Project,

Gold Fields acquired the Asheba project through acquisition of

the Glencar Group in November 2009. The project covers
approximately 24 square kilometres and is located
25 kilometres south of Gold Fields’ Tarkwa Mine in Ghana.
Assays were received from the initial drilling programme (4,800
metres) completed in early 2011, which confirmed
mineralisation in two prospect areas consistent with
Maricunga District, northern Chile

expectation. Follow-up drilling will be completed by mid-2012.

Inspecting exploration trenches completed on the Asheba Project, Ghana

Taguas Project, Argentina
(Gold Fields earning up to 70%)
Gold Fields signed a joint venture agreement in October 2011
to earn up to 70% of the Taguas gold-silver project from
Minera S.A., a private company. The project is located in the
El Indio gold belt in San Juan province, Argentina. Diamond
drilling commenced in December 2011 and will continue into
2012.
Drilling on the Taguas Project, San Juan Province,

Edwenase and Boako Projects, Ghana

(Gold Fields Options to acquire 90%)
At the Edwenase Project, soil sampling and trenching has
defined several new targets which warrant drill testing. Drilling
will commence in the first quarter of 2012. At the Boako
Project, infill soil sampling has defined three priority zones
which will be followed up with a combination of trenching,
Argentina

air-core and reverse circulation drilling in early 2012.

Gladie Project, Mali

(Gold Fields Option to acquire 90%)
Moquegua and Tacna Projects, Peru
(100% Gold Fields) Gold Fields signed an option agreement with a Malian vendor
to acquire 90% of the Gladie project located in south-east
Gold Fields is exploring the Moquegua and Tacna projects
Mali. Soil sampling commenced in October 2011 and results
located in the Altiplano region of southern Peru. Initial reverse
have validated the existing anomalies, as well as outlining
circulation drilling partially tested the Ichocollo porphyry gold
two new zones. A program of Air Core drilling (4,125 metres
target at the Tacna Project in September 2011. However, the
in 67 holes) is in progress with the objective of testing the
drilling programme was suspended after two holes, due to
three main anomalies. Assay results are pending.
regional social unrest. This programme is scheduled to
resume in early 2012, followed by initial reverse circulation
drilling programmes on two other target areas.
Telikan Project, Guinea (80% Gold Fields)
Gold Fields completed follow-up soil sampling, trenching and
At the Moquegua Project, an initial drilling programme of six a reverse circulation drilling programme (5,350 metres in
diamond drill holes was completed between August and 45 holes) in 2011. The drilling programme tested two
November 2011 on the Pacosani breccia target. Final assay first-priority gold-in-soil anomalies. A decision on the way
results are still incomplete but results to date have not been forward will be made once all assay results are returned in
encouraging. In December 2011, initial diamond drilling early 2012.

13
 7. Near-mine exploration
St Ives Gold Mine, Australia
The St Ives Gold Mine in Australia is in the process of building strike potential exists on both project areas as highlighted in a
up the Athena-Hamlet complex within the highly prospective full geological review completed in 2011 by external consulting
Argo-Athena camp. The camp is situated within the St Ives specialists. Drilling late in 2011 has tested the immediate strike
lease area, five kilometres from the Lefroy Plant CIL extent of Amoanda and activities will continue into 2012.
processing facility. The Athena project is the first fully defined
deposit within the Athena-Hamlet complex, and after initial Early stage exploration activity has been limited at Damang in
discovery in 2006 mine development commenced in 2009. recent history. Recent re-interpretation work over the entire
Construction at the Athena mine was completed during fiscal tenement holding has highlighted a number of conceptually
2011 and is now ramping up to full production levels. prospective target areas. Target definition and initial drilling
Development of the Hamlet mine commenced in 2010 activities are planned for 2012 to test the highest-ranking
utilising the same Athena portal site and infrastructure, and prospects including the Bonsa Hydrothermal and the Central
first ore development commenced late in 2011. Anticline prospects.

Framework diamond drilling has been completed around the Cerro Corona Mine, Peru
Victory complex. Prospective new mineralisation has been At the Cerro Corona copper-gold mine in Peru, initial assay
identified to the west of the current Leviathan pit which will results of the recently completed Phase 2 infill and
require follow up. Additional mineralisation was also identified extensional drilling programme confirms the existing resource
in the vicinity of the Britannia Footwall, Sirius and Paddy’s model, with localised variations in grade. The data will be
resources. used to develop a revised litho-structural-alteration model
and resource update to enhance the Life of Mine reserves.
Target generation drilling was carried out at several other
targets within the junction, the South Argo Trend and the Exploration framework drilling commenced in June 2011 on
South Foster area. Reserve conversion and extensional the adjacent Sylvita Project. Of the five holes completed,
drilling is in progress at Athena, Hamlet and Cave Rocks. three have successfully intersected altered porphyry and two
intersected limestone with narrower dykes intruding the
Agnew Gold Mine, Australia sequence. Skarn and sulphide manto mineralisation has been
At the Agnew Gold Mine in Australia, recent drilling has observed in the limestone close to dykes and the porphyry,
identified three high-grade ore-shoots developed at depth on with some indications of localised strong copper
the Waroonga Main Lode North; the Fitzroy, the Bengal and mineralisation.
the Hastings shoots. The Fitzroy and Bengal shoots plunge
steeply to the north-west and may intersect with the porphyry The Oxide Stockpile drilling project was completed in June
link zone which was previously identified between the Main 2011. Assays received confirmed the estimated grade of the
North and Kim lodes. Results of drilling have been positive stockpile, as well as distribution and levels of soluble copper
and an initial surface deep-drilling programme is expected to (which were very low) within the stockpile stack. Full analysis
be completed in Q1 2012. Additional follow-up drilling to a and modelling of the stockpiles was completed in July 2011.
density that is appropriate for resource estimation will follow if
initial indications prove consistent with interpretations. A pre-feasibility study for processing the oxide material by
Heap Leach has been initiated.
Assay results from two new holes into the porphyry link zone
suggest that the extensions to the shallow plunging,
moderate-grade mineralisation situated on the southern edge
Drillers working on the Cerro Corona Phase 2 project, Cerro Corona pit floor, Peru

of the Kim South lode extends to the south and may

potentially join up with the high-grade mineralisation in the
Fitzroy and Bengal shoots. Although the immediate focus at
Waroonga will be on confirming grade and continuity of the
high-grade shoots, this mineralised trend between Kim lode
and the Fitzroy shoot requires follow-up which will also be
scheduled for the 2012 work programme.

Recent reconnaissance aircore drilling was completed to the

north of the Cinderella deposit. Two zones of shallow
mineralisation were delineated, approximately 200 metres and
one kilometre respectively north of the potential Cinderella pit
position. A follow-up drilling programme is planned.

Damang Gold Mine, Ghana

At the Damang Gold Mine in Ghana, the Superpit project
described under International Projects forms the main site
project for 2011 and 2012. To accompany this project,
additional near-mine activities will focus on definition of
potential extensions to the Rex and Amoanda deposits to the
south of the Superpit project area. Considerable depth and

Gold Fields: Exploration – Technical Short Form Report 2011 14

 8. Environment, health and safety,
and sustainable development
Gold Fields Exploration has an overriding commitment to undertake. The approach is to apply a set of EHS
sustainable development, which is pursued through effective fundamentals that form foundations of the desired culture,
management of environment, health and safety (EHS). The expected behaviours and performance standards within the
EHS management system forms the basis for the Group. Gold Fields Exploration sustained zero lost-time
development and application of the EHS systems at all levels incidents from February through to December 2011. The
within the Group. This system is based on best practices and Group continues to aspire to zero harm to employees, the
meets the requirements of ISO 14001 and OSHAS 18000. host communities, and to the environment in which the
Gold Fields seeks to create a mindset and environment company operates, and will introduce a range of initiatives
where people know it is possible to work incident free, designed to support that aspiration.
regardless of where they are in the world or what role they

9. Community relations
The establishment and maintenance of a strong social licence is acceptable to them. The Group believes in the value of
to operate is essential for successful exploration activities. It being transparent when dealing with the community and that
is also an important factor in the licence acquisition process, the company complies with the law in all aspects. The focus
with many governments offering preference to those is on social investment rather than philanthropy, and the
companies with a proven track record of constructive company considers itself to be an enabler of community
community engagement and development. As a result, the development. Gold Fields believes in the inclusion and
implementation of socio-economic development (SED) participation of stakeholders and capitalises on existing
initiatives in local communities start from the moment the community skills.
company begins to explore, right through to mine closure.
Gold Fields’ social development teams are spread around the
For Gold Fields Exploration, engagement with stakeholders is world and are embedded with the company’s exploration
a broad and continuous process of contact, dialogue and teams at every project, ensuring consistency of approach
interaction. These steps assure that affected communities and continuity throughout the exploration stages. The
and other stakeholders are adequately informed and able to objective is to make Gold Fields the global leader in
participate in decisions that affect their lives in a manner that sustainable gold mining.

Helicopter supported exploration in British Columbia, Canada

15
 10. Key Growth and international projects
management
The Growth and International Projects team comprises about 639 full-time and contract personnel including 151 geoscientists,
who provide the key exploration and project-development capability in the regions of focus worldwide. In addition to experienced
field-based technical personnel, state-of-the-art expertise and support are provided to the regional teams by two in-house
groups: the Earth Science Group and the Project Generation Group.

Post Incumbent Qualifications Years Key responsibilities

Executive Vice Tommy McKeith BSc (Hons) Geology, 24 Executive Head of Growth and International Projects;
President Growth and GDE Mining, MBA, FAusIMM responsible for strategic direction, leadership &
International Projects management; Perth office
Senior Vice President Nate Brewer BA Geology; AIPG (CPG) 35 Head of global Greenfields Exploration; Denver office
Greenfields Exploration
Vice President Justin Osborne BSc (Hons) Geology; FAusIMM 23 Strategic development, communication strategies,
Development Strategy innovation and technology, sustainable energy and
business analysis for the Growth and Projects group;
Senior Manager - Ed Baltis BSc (Hons) Geology 24 Head of Project Generation Group and Near-Mine
Project Generation and Exploration (delineation and target generation within
Near Mine high potential gold provinces and mining operations;
supports Exploration Group and international
operations with technical decision making on active
exploration projects; R&D); Perth office
Vice President Michael Botha BSc (Hons); MSc Geology 28 Strategic Projects and advanced growth projects
Strategic Projects
Head of Human Conrad Mtshali BA (Social Sciences) MAP 16 Overall responsibility for Human Resource strategy
Resources execution
Head of Finance Vinit Desai CA (SA), BCompt (Hons) 14 Head of Finance for the Growth + International Projects
Division
Vice President Diega Ortego Law degree (Masters) 15 Head of Sustainable Development in Growth and
Sustainable International Projects
development
Vice President Matt Dusci BSc Hons (Geology) 17 Head of concepts + studies team including the
Concepts and Studies AIG (CP) - 3395 generation of Mineral Resources
Vice President Mike Nelson BSc (Hons) Masters in Applied 25 Project delivery (Pre-feasibility onward)
International Projects Finance

Exploration drilling at Yanfolila in Mali

Gold Fields: Exploration – Technical Short Form Report 2011 16

Notes

Small scale folding in banded ironstone

This Technical Short Form Report (“the Report”) contains information as at 31 December 2011 (“the Effective Date of this Report”). The
statements and information set out in this Report speak only as of the Effective Date of this Report. Shareholders and other interested and
affected parties are therefore urged to review all public disclosures made by Gold Fields after the Effective Date of this Report, as some of the
information contained in the Report may have changed or have been updated. Gold Fields does not undertake any obligation to update publicly
or release any revisions to statements and information set out in this Report to reflect events or circumstances after the Effective Date of this
Report or to reflect the occurrence of unanticipated events, unless obliged to do so pursuant to law or regulation. In such event, Gold Fields
does not undertake to refer back to any information contained in this Report.

17
 “If we cannot mine safely, we
will not mine”
Gold Fields Safety Value

Registered Office South Africa:

150 Helen Road
Sandown
Sandton, 2196
Johannesburg
Gauteng
Private Bag X30500
Houghton, 2041
South Africa

Website: [Link]
Telephone: +27 (0) 11 562 9700
Facsimile: +27 (0) 11 562 9838

Gold Fields: Exploration – Technical Short Form Report 2011 1