Cerro Corona Mine - goldfields.com · Cerro Corona Mine operates one open pit operation and one copper gold fl otation plant at elevations ranging from approximately 3,600 to 4,000

Cerro Corona MineTechnical Short Form Report

The Cerro Corona Mine in the Gold Fields Limited South America Region, is located 40 km north of the Yanacocha mine, and 80 km by road north of the departmental capital of Cajamarca in northern Peru. The deposit is hosted by a sub-vertical, cylindrical shaped diorite porphyry (600 – 700 m in diameter), emplaced in mid-Cretaceous limestone, marls and siliclastic rocks.

This Technical Short Form Report provides brief information on the mining and operational performance achieved during the fi rst 10 months of operations and also presents an updated Mineral Resource and Mineral Reserve statement, as at 30 June 2009. Cerro Corona produces gold and copper by conventional open pit mining methods and benefi ciation of sulphide ores by the extraction of a copper-gold fl otation concentrate, which is trucked approximately 380 km to the Peruvian Port of Salaverry for shipment to smelters in Asia and Europe.

The Mine is expected to produce approximately 2.1 Moz of gold and 407 kt of copper in concentrate over a 15 year Life of Mine. At the declared commodity prices, the estimated copper and gold production is equal to a total of 4.5 million ounces gold equivalents (Moz Au Eq). The Metallurgical Process Plant has a treatment capacity of 18,000 tons of ore per day, or approximately 6.2 million tons of ore per year. LoM average total cash cost (exclusive of capital costs and taxes) is projected at US$358/oz AuEq.

All Mineral Resource and Mineral Reserve fi gures reported are managed unless otherwise stated and Mineral Resources are inclusive of Mineral Reserves.

Salient Features• Ore processing started in August 2008 and full production was reached in

December 2008.• A total of 105 koz of gold and 23,947 t of copper were produced in the

fi rst 10 months of operation.• Mineral Resource at 8.1 Moz (gold equivalent).• Mineral Reserve at 5.5 Moz (gold equivalent).• The current Life of Mine extends to 2024 (15 years).• Anchor point for growth in the Region.

Gold Fields Limited signed a defi nitive agreement in December 2003 to purchase an 80.7% economic and 92% voting interest in the Cerro Corona Project from Sociedad Minera Corona S.A., or SMC, a Peruvian family-owned company. The agreement called for a corporate reorganisation whereby the assets of the Cerro Corona Project were transferred to a Peruvian company called Gold Fields La Cima S.A. (formerly known as Sociedad Minera La Cima S.A.) in July 2004.

The environmental impact assessment (EIA) for the project was submitted to the Peruvian Ministry of Energy and Mines, or MEM, in May 2005. The EIA was approved following a process of public consultation and comment, on 2 December 2005. Gold Fields Limited subsequently completed the purchase of a 92% voting interest (80.7% economic interest) in the Cerro Corona Project in January 2006.

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Key Features

Independent Audit Figures reported in this declaration are as reviewed and approved by external consultants as at 30 June 2009

Prepared by Gold Fields Limited

Effective date 30 June 2009

Source of Information This Technical Statement is a summary of the detailed internally sourced document entitled F2010 Cerro Corona Competent Persons Report

Personal Inspection Personal inspection is conducted by the Competent Persons as listed, who are full time employees of Gold Fields Limited

General Location The Cerro Corona deposit, centred at longitude 78° 37’ 8” W and latitude 6° 45’ 36” S, is located 1.5 km west-northwest of the village of Hualgayoc, some 80 km by road north of the departmental capital of Cajamarca, a city of more than 100,000 people and approximately 600 km north-northwest of Lima the capital of Peru

Licence Status and Holdings

The mining rights owned by Cerro Corona cover an area of 2,940 ha. The surface rights related to the Cerro Corona Project is 945 ha. Cerro Corona is owned by Gold Fields La Cima S.A. (GFLC)

OperationalInfrastructure

Cerro Corona Mine operates one open pit operation and one copper gold fl otation plant at elevations ranging from approximately 3,600 to 4,000 m above mean sea level

Climate No extreme climatic conditions are experienced that may affect mining operations

Deposit Type The Cerro Corona copper-gold deposit is typical of porphyry style mineralization comprising stockwork quartz-pyrite-marcasite-chalcopyrite ± bornite ± hematite ± magnetite veining hosted by intensely altered intrusive lithologies of diorite to dacitic composition

Life of Mine (LoM) It is estimated that the current Mineral Reserve will be depleted in 2024

Environmental Cerro Corona’s environmental objective is to achieve the ISO 14001 certifi cation during this calendar year. The fi nal certifi cation audit is planned for October 2009

Regulatory Codes Gold Fields Limited reports its Mineral Resources and Mineral Reserves in accordance with the South African Code for The Reporting of Exploration Results, Mineral Resources and Mineral Reserves (2007 SAMREC Code). The Mineral Resources and Mineral Reserves are underpinned by suffi cient Mineral Resource Management process and protocol to ensure adequate corporate governance in respect of the intent of the Sarbanes-Oxley Act.In June 2009 the Lima Stock Exchange (www.bvl.com.pe) registered Gold Fields La Cima S.A. in the Good Corporate Governance Index (IBGC). This index, which is adjudicated on a yearly basis, includes the top nine listed companies in Peru, that exhibit the best practices in transparency, social responsibility, equity, trust and information integrity for their shareholders and stakeholders

Cerro Corona

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Operating StatisticsYear ended June F2009 F2008

Waste Mined ‘000 tons 4,894 5,762

Sulphide Tons mined ‘000 tons 5,044 939

Strip Ratio w:o 1.0 6.1

Au Head Grade g/t 1.2 1.2

Cu Head Grade % 0.8 0.4

Tons Milled ‘000 tons 4,547 –

Au Head Grade g/t 1.24 -

Cu Head Grade % 0.80 -

Concentrate Produced tons 118,848 -

Gold Produced koz 105 -

Copper Produced tons 23,947 -

Total Gold Equivalent Produced eq koz 219 -

Total Gold Equivalent Sold eq koz 218 -

Operating Cost US$/oz 394 -

Capital Expenditure US$/oz 532

NCE US$/oz 926 -

Total Cash Cost million US$ 80.3 -

Total Cash Cost US$/oz 369 -

Number of Employees personnel 310 277

Expected LoM years 15 16

Reserves million tons 89.3 94.1

Au Head Grade of Mineral Reserves g/t 1,0 1.0

Cu Head Grade of Mineral Reserves % 0.50 0.51

Geological Setting and MineralisationThe Cerro Corona Project is located in northern Peru on the eastern slope of the western mountain range of the Andes. The copper-gold deposit is a typical porphyry-style of mineralisation situated within the Hualgayoc Mining District in the northern part of the Cajamarca Province, a metallogenic province hosting prolifi c epithermal, porphyry and polymetallic style mineralisation. The mining area is characterised by moderate to moderately steep mountainous terrain with elevations ranging from approximately 3,600 to 4,000 m above mean sea level.

The Cerro Corona copper-gold porphyry is one of fourteen known Tertiary-aged porphyry Cu-Au-Mo deposits and nineteen epithermal Au-Ag deposits located in the Cajamarca Metallogenic Province (CMP) of northern Peru. There are two well mineralised districts within the CMP. These are the Yanacocha district in the south of the province, which is host to the largest producing gold mine in South America, and the Hualgayoc Mining District in the north which is one of the oldest mining districts in Peru, best known for its past silver production and more recent base metal production. This well known district has been an important silver producing area since Inca times, with more than 50 million ounces of silver and signifi cant amounts of lead, zinc and copper produced from vein and manto-type deposits since the Spanish Conquest in the 16th Century. The Hualgayoc mining town was established in 1771.Rounding off of fi gures presented in this report may result in minor computational discrepancies, where this occurs it

is not deemed signifi cant.

Gold Fields has stated that:

“If we cannot mine safely, we will not

mine”.This principle is

embedded at Cerro Corona.

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The regional structure is characterised by large open folds of Cretaceous-aged sedimentary units, predominately limestones, with axial planes striking approximately 315° and steep southwest dips. Faulting is generally restricted to normal and oblique slip faults with offsets of a few metres to a few tens of metres.

Local geologyThe Cerro Corona copper-gold deposit is hosted by a 600 to 700 m diameter sub-vertical cylindrical-shaped diorite porphyry emplaced in mid-Cretaceous limestone, marls and siliclastic rocks. Within the porphyry, the copper-gold mineralisation is primarily associated with zones of stockwork quartz veining conforming to classic porphyry-type vein defi nition. The Cerro Corona porphyry is unusual in that it carries a very high gold content in comparison to other copper-gold deposits.

There are at least two phases of diorite placement, only one of which is mineralised. The non-mineralised diorite is generally regarded as the last event, and is referred to as ‘barren core’. Most recent geological modelling strongly suggests that the Cerro Corona porphyry is probably comprised of four or fi ve satellite stocks with the last two being barren. Early mineralisation was accompanied by moderate to strong potassic alteration which has been commonly overprinted by late, semi-pervasive argillic alteration and locally, by structurally controlled phyllic alteration assemblages (quartz-sericite-pyrite).

Regional Geology of the Cerro Corona area

The intrusive has been emplaced at the intersection of Andean-parallel and Andean-normal (transandean) structures, which is a typical feature of the Cajamarca Metallogenic Province. A dominant northeast-southwest trending fault system running through the intrusive is referred to as the Mariela Fault trend and has an important relationship with the distribution of mineralisation. There are three distinct mineralised zones within the deposit. These are identifi ed as the Annulus Zone, the Northern Zone and the Southern Zone. Each of these is treated separately in

geological and resource modelling. In addition

to the mineralised zones, the deposit is

characterised by several domains conforming

to the degree of oxidation and weathering.

Supergene oxidation and leaching processes

at Cerro Corona have led to the development

of a weak to moderate copper enrichment

blanket, allowing for the subdivision of the

deposit, from the surface downward, into an

oxide zone, a mixed oxide-sulphide zone, a

secondary enriched (supergene) sulphide zone

and a primary (hypogene) sulphide zone.

Sheeted and stockwork quartz-pyrite-marcasite-chalcopyrite ± bornite ± hematite ± magnetite veining Blasthole drilling

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Geological domainsOxidation,weathering,leaching and subsequent secondary enrichment has led to the formation of four mineral domains with distinctly different metallurgical behaviour. The top-most domain, the Oxide Domain, is characterised by the complete removal of copper mineralisation through the action of oxidation and leaching. Gold mineralisation within the Oxide Domain is characterised by some improvement in grade and is free milling due to the complete breakdown of primary sulphide minerals. All of the ore beneath the Oxide Domain comprises parts of the sulphide zone, which is separated into three domains on the basis of degree of oxidation and consequent change in sulphide mineralogical composition. The sulphide zone has three main domains, which from top to bottom are the Mixed Domain, the Supergene Domain and the Hypogene Domain. The Hypogene Domain is the primary sulphide zone. The Supergene Domain is an enriched copper blanket comprising chalcocite-covellite-chalcopyrite with grades in the range of 1% Cu.

Exploration and drillingExploration in the district continues on the 50:50 joint venture project with Compania de Minas Buenaventura S.A.A.

3D structural model of principal faults in the Cerro Corona deposit

North south section through the Cerro Corona intrusion, showing interpreted geological and resource domains

Location of mineral zones within 2009 design pit

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– Economic evaluation of each measured or indicated block considered for processing;

– Optimum practical economic sequence as generally defi ned by the push backs;

– Structural material required for earth structures; and

– Constraints related to the deposition of tailings and overburden material.

Open pit optimisations are built using Whittle 4X© – (Multi-element standard mine design software) on the BLUC resource model. Multiple case scenarios are run using varying gold and copper prices, processing costs, mill

MiningThe Cerro Corona deposit is mined by conventional surface mining methods. The fi nal surface mine area is expected to cover some 900 x 500 m. The mining operation is extending from the crest of the original Cerro Corona hill, which peaked at 3,964 mRL, to a fi nal depth at around 3,660 mRL.

Bulk mining will utilise 10 m benches with loading planned by a combination of a diesel hydraulic face shovel (230 t) and a rubber tired front end loader (190 t) loading and six (150 t) dump trucks. At this stage it is assumed that all of the material requires drilling and blasting (with varying powder factors) utilising 200 mm holes for 10 m benches.

Mine planning and schedulingCerro Corona’s LoM plan is based on detailed Geological and Mineral Resource models. The LoM plan is established from detailed short term and long term mining design and schedules using specialised Xpac© software and a resource estimation model termed the Bivariate Local Uniform Conditioning model (BLUC) that has been developed by internal Gold Fields Limited geostatistical consultants.

Geotechnical and geochemical models for waste materials have also been developed and are used in the LoM as an effective Acid Rock Drainage (ARD) management strategy. The planning cycle commences with the ratifi cation of key input parameters prior to producing a compliant Mineral Resource statement. The planning process starts after the construction of the resource model and incorporates the following considerations:• Corporate decision on macro-economic

parameters;• Development of a broad planning strategy,

identifying key mining and processing constraints;

• Development of comprehensive operating costs for mining, processing, administration and selling;

• Modelling of the strategic, geological, geotechnical, metallurgical, environmental and economic parameters; for application of the Lerchs Grossman algorithm. Subsequently, development of a broad economic sequence and an optimum ultimate economic pit shell;

• Development of a pit design and push backs applying mine design parameters; and• The resource model contained within the pit

design is scheduled with consideration of impacting factors such as the following:

View of the Cerro Corona pit from Cerro Candela

View of the rhyolite quarry for TSF construction material

recovery values, and inclusion/exclusion of inferred material to ensure that the optimal pit is selected. The work undertaken includes:• Geotechnical review and pit wall angle

recommendation;• Cost review;• Pit optimisation; and• Sensitivity analysis

ProjectsThe Cerro Corona Pit is considered to be the LoM project. The upside potential is controlled by the availability to place and store tailings. Efforts to fi nd additional storage capacity are ongoing.

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Mineral ProcessingCommissioning and ramp-up of the processing plant was performed in parallel, to optimise the operational timing between these two activities. The ramp-up to full monthly production levels was achieved by December 2008.

From January 2009, the plant has been operating at near stable conditions with the only infl uence on the optimal performance resulting from the high variability of the ore feed. This variability is attributed to the complexities arising from the varying degree of sulphide oxidation in the different mineral domains such as the Mixed Ore and the Supergene Ore.

The various ore types from the mine are stockpiled on the Run of Mine pad. They are fed in appropriate blends by front end loader to the crushing plant. This comprises two mineral sizers in parallel, one of which is a standby unit. Mineral sizers facilitate crushing of soft, wet ore with clay components. The crusher feed design also makes provision for direct tipping of ore from the mine if necessary.

Crushed product is conveyed to a two-stage grinding circuit consisting of a SAG mill and a ball mill in closed circuit with cyclones for classifi cation. Cyclone overfl ow represents the fi nal milled product which feeds the fl otation plant consisting of two sections. The rougher-scavenger fl otation produces a bulk concentrate, which is then reground and upgraded to smelter copper grade in the four-stage cleaner fl otation section.

The fi nal concentrate is thickened and fi ltered before being stockpiled for fi nal shipment to the smelters. The thickened rougher-scavenger fl otation tails and the tails from the cleaner fl otation are pumped to the tailings storage facility.

Training of qualifi ed plant operators has been successfully achieved at Cerro Corona. Sixty people from the DIA (Direct Infl uence Area) were selected for a comprehensive seven-month training program comprising theory/practical training, and exposure to existing Peruvian copper operations.

Sustainable DevelopmentCerro Corona commenced implementing it’s Health and Safety Management System in July 2008 in accordance with OHSAS 18001 and Corporate requirements. The objective of the Health and Safety Management System is to prevent injuries, occupational illness, and property damage and process loss.

View of the Cerro Corona process plant

View of the SAG and Ball Mills in the process plant

No fatalities were recorded in F2009. Only two Lost Time Injuries (LTI) were recorded during the year and 2.3 million Man Work Hours without any LTI’s were accumulated. The Lost Day Injury Frequency Rate (LDIFR) improved from 0.96 in F2008 to 0.25. Cerro Corona was awarded the Safety Mining Award (second

place) for Peru, a competition that is organized by the Safety Mining Institute of Peru.

Cerro Corona’s environmental objective is to achieve the ISO 14001 certifi cation during this calendar year. The fi nal certifi cation audit is planned for October 2009.

View of the Aguilas TSF construction site

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Modifying factors• Mineral Resources and Mineral Reserves are

quoted at an appropriate in-situ economic NSR cut-off with costs and tonnages and grades based on the resource block model. They also include estimates of any material below the NSR cut-off required to be mined to extract the complete pay portion of the Resource;

• All Mineral Resources and Mineral Reserves are quoted as at 30 June 2009;

• Unless otherwise stated, all Mineral Resources and Mineral Reserves are quoted as 100% and are not attributable with respect to ownership;

• All Mineral Reserves are quoted in terms of

Run-of-Mine (ROM) grades and tonnages

as delivered to the metallurgical processing facilities;

• Mineral Reserve statements include only Measured and Indicated Mineral Resources, modifi ed to produce Mineral Reserves and contained in the LoM plan; and

• Mineral Resources and Mineral Reserves undergo both internal and external audits during the year and any issues identifi ed are rectifi ed at the earliest opportunity – usually during the current reporting cycle.

Mineral Resources and Mineral ReservesMineral Resources are reported as in-situ and are inclusive of those Mineral Resources which have been modifi ed to produce Mineral Reserves.The Measured, Indicated and Inferred Oxide and Sulphide Mineral Resource estimate has been calculated within the diorite intrusion above 3,300 mRL. Mineral Resource statements include Measured, Indicated and Inferred Mineral Resources.

The Mineral Resources are reported from the Bivariate Localised Uniform Conditioned model at a Net Smelter Return (NSR) cut-off of US$10.92/t and constrained within an optimised Whittle Pit Shell, based on the same economic parameters as the NSR calculation. (For comparative purposes, the NSR cut-off applied to the current Mineral Resources is 30% higher than was declared in the June 2008 CPR at US$8.40/t).

Gold equivalent ounces are defi ned as a quantity of metal (such as copper) converted to an amount of gold in ounces, based on accepted gold and other metal prices i.e. The accepted total value of the metal based on its weight and value thereof divided by the accepted value of one troy ounce of gold.

Modifying FactorsResource Gold Price US$/oz 1,000Resource Copper Price* US$/lb 2.20Reserve Gold Price US$/oz 800Reserve Copper Price* US$/lb 1.75Resource Cut off grade NSR (US$) 10.92Reserve Cut off grade NSR (US$) 10.92Stripping Ratio Waste:ore 0.81Dilution % –Plant Recovery Factor (Au) – Mixed % 55Plant Recovery Factor (Cu) – Mixed % 58Plant Recovery Factor (Au) – Supergene % 72Plant Recovery Factor (Cu) – Supergene % 84Plant Recovery Factor (Au) – Hypogene % 75Plant Recovery Factor (Cu) – Hypogene % 89

* Whittle shells run at US$2.20/lb for Mineral Resources and US$1.75/lb for Mineral Reserves. However US$2.75/lb and US$2.2/lb were used to calculate equivalent gold ounces for Mineral Resources and Mineral Reserves and to compare cash fl ows.

Mineral Resource Classifi cation (Copper)

Tons (Mt) Grade (%) Copper MlbJune 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006

Open PitMeasured 26.7 29.0 39.6 0.5 0.5 0.5 305 345 415Indicated 115.6 135.1 165.7 0.4 0.4 0.4 1,076 1,215 1,370Inferred 4.8 10.4 15.8 0.3 0.3 0.2 35 69 84Total Open Pit 147.0 174.5 221.1 0.4 0.4 0.4 1,416 1,629 1,869Surface stockpilesMeasured 1.2 0.6 0.0 0.5 0.6 0 14 8 0Total Surface 1.2 0.6 0.0 0.5 0.6 0 14 8 0Grand Total 148.2* 175.2 221.1 0.4 0.4 0.4 1,429 1,637 1,869Mineral Resource Gold Equivalent

Tons (Mt) Grade (%) Gold Equivalents (’000 oz)June 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006

Copper as Gold Equivalent (Cu-Au Eq) – – – – – – 3,931 4,297 5,030

Grand Total Gold Equivalent(Au+Cu-Au Eq) – – – – – – 8,140 8,974 10,068

* Oxide Mineral Resource contains gold only resulting in the difference in tonnage

Mineral Resource Classifi cation (Gold)

Tons (Mt) Grade (g/t) Gold (’000 oz)June 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006

Open PitMeasured 27.5 31.9 44.6 1.0 1.0 0.9 894 1,051 1,224Indicated 116.7 137.8 170.2 0.8 0.8 0.7 2,940 3,336 3,632Inferred 4.9 10.5 15.8 0.5 0.5 0.4 81 155 182Total Open Pit 149.1 180.2 230.7 0.8 0.8 0.7 3,915 4,542 5,038Surface stockpilesMeasured 6.7 2.8 0.0 1.4 1.5 0.0 295 135 0Total Surface 6.7 2.8 0.0 1.4 1.5 0.0 295 135 0Grand Total 155.8* 183.0 230.7 0.8 0.8 0.7 4,209 4,677 5,038

Mineral Resources

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Grade tonnage curvesSulphide Mineral Resource Oxide Mineral Resource

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Mineral Reserves Classifi cation (Copper)

Tons (Mt) Grade (%) Copper MlbJune 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006

Open PitProved 21.5 23.6 25.8 0.6 0.6 0.6 266 305 353Probable 66.6 69.9 68.2 0.5 0.5 0.5 708 748 736Total Open Pit 88.1 93.5 94.0 0.5 0.5 0.5 974 1,053 1,089Surface stockpilesProved 1.2 0.6 0 0.5 0.6 0 14 8 0Total Surface stockpiles 1.2 0.6 0 0.5 0.6 0 14 8 0Grand Total 89.3 94.1 94.0 0.5 0.5 0.5 988 1,061 1,089Mineral ReserveGold Equivalent

Tons (Mt) Grade (%) Gold Equivalents (’000 oz)June 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006

Copper as Gold Equivalent (Cu-Au Eq) – – – – – – 2,717 2,857 2,720

Grand Total Gold Equivalent(Au+Cu-Au Eq) – – – – – – 5,539 5,874 5,896

Mineral Reserves Classifi cation (Gold)

Tons (Mt) Grade (g/t) Gold (’000 oz)June 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006 June 2009 June 2008 Dec 2006

Open PitProved 21.5 23.6 27.7 1.1 1.1 1.1 756 843 1,016Probable 66.6 69.9 70.2 0.9 1.0 1.0 2,017 2,145 2,160Total Open Pit 88.1 93.5 98.0 1.0 1.0 1.1 2,773 2,988 3,176Surface stockpilesProved 1.2 0.6 0.0 1.2 1.4 0 49 29 0Total surface stockpiles 1.2 0.6 0.0 1.2 1.4 0 49 29 0Grand Total 89.3 94.1 98.0 1.0 1.0 1.0 2,822 3,017 3,176

Mineral Reserves

View of the Gordas TSF from Cerro Candela

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Regulatory CodesSAMRECThis Technical Statement has been prepared in Compliance with the South Africa Code for the Reporting of Exploration Results, Mineral Resources and Mineral Reserves (2007 SAMREC Code).

JSEThis Technical Statement has been prepared in compliance with the listing requirements of the

Mineral Reserve sensitivityImproved Mineral Resources and Mineral Reserves potential are infl uenced by increased commodity prices, but is limited by the size of the Tailings Storage Facility (94.1 Mt). The sensitivities are not based on detailed depletion schedules and should be considered on a relative and indicative basis only.

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+25%+10%+5%800-5%-10%

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Gold Price (US$/oz)Note: Cerro Corona is currently Tonnage constrained due to the current capacity of it`s tailings facility. Adoption of possible TSF expansion opportunities will provide the mine with future upside potential.

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F2010SpecificInclusions

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DepletionF2009

Mineral ResourceFactors that affected Mineral Resource reconciliation:• Decreases resulting from depletion, a rise in the NSR cut-off and

geotechnical factors.

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JSE Securities Exchange, South Africa (JSE),specifi cally Section 12 – Issue 11.

Sarbanes-Oxley ActThe Mineral Resource and Mineral Reserve is underpinned by an adequate Mineral Resource Management process and protocol to ensure adequate corporate governance in respect of the intent of the Sarbanes-Oxley Act.

EnvironmentalCerro Corona has an environmental management team who are supported by specialist assistance from corporate offi ce in Johannesburg. The systems, procedures, training etc. are at international best practice levels. Gold Fields Limited has produced a Sustainability Report in 2009 and intends reporting annually in accordance with the Global Reporting Initiative.

Mineral Resources and Mineral Reserves Reconciliation year-on-year

Change in Gold Mineral Reserve F2009 to F2010

Change in Gold Mineral Resource F2009 to F2010

Change in Copper Mineral Reserve F2009 to F2010

Change in Copper Mineral Resource F2009 to F2010

Managed Mineral Reserve Sensitivity

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Competent PersonsJulian Misiewicz: Consulting GeologistBSc (Hons) Geology, MSc Geology. Mr Misiewicz is a Fellow of the Society of Economic Geologists (SEG 541613). He has 31 years experience in the mineral exploration and mining industry and is responsible for the overall correctness, standard and compliance of this declaration.

Alberto Cardenas: Mining Operations ManagerCivil Engineer (CIP 62693), Pontifi cia Universidad Católica del Perú. Mr Cardenas has 15 years experience in the mining industry, and has held senior positions in construction and mining. He is responsible for the management of the Mining and Geology Department and related functions.

Eddie Garcia: Chief Mining EngineerMine Engineer (CIP 109603), Pontifi cia Universidad Católica del Perú. Mr Garcia has 12 years experience in mining engineering and 3 years in Business Planning at Minera Yanacocha. Mr Garcia is responsible for the Mineral Resource Management at Cerro Corona.

Hugo Solis: Long Term EngineerMining Engineer (CIP 77973), Universidad Nacional Mayor de San Marcos. Mr. Solis has 14 years experience in surface and underground mining operations

Oscar RettoResource Manager, Universidad Nacional Mayor de San Marcos, specialized in Geostatistics at the Paris School of Mines. Mr Retto has over 15 years working in exploration and mining companies as a resource modeller and geostatistician in Canada, Australia and Peru. Currently, is responsible for the Geology Department at Cerro Corona mine

Key Technical StaffPost Incumbent Qualifi cations Years Key responsibilities

Head of Operations Manuel Diaz Metallurgical Engineer 25 Responsible for the overall strategic direction, leadership & management

Mining:Senior Manager: Mine

Alberto Cardenas Civil Engineer, MBA 15 Mine Operations, Engineering. Geotechnical and Mine Geology management

Mineral Resources:Manager: chief engineerAnd resource management

Eddie Garcia Mining Engineer, MBA 15 Mine Planning, Mineral Resources & Mineral Reserves and the compilation of CPR

Regional Chief Financial Offi cer

Rodolfo Michels BS in Business AdministrationCertifi ed Professional AccountantReg. Chartered Accountant

38 Financial management, reporting and compliance

Human Resources:Senior Manager: Human Resources

JaimeObreros

Attorney in Law 29 Human resources, Training & development

Metallurgy:Senior Manager: Process

Ruben Zevallos Metallurgical Engineer 26 Mineral Processing and Metallurgy

Engineering: Senior Manager:Engineering and Construction

Carlos Herrera Electrical & Mechanical Engineering, MBA

29 Engineering, logistics and infrastructure management

Environmental Manager Luis Alberto Sanchez MSc Environmental Services Mechanical Engineer

27 Environmental management

Cerro Corona History at a Glance

• 1984-2003Mina Carolina intermittently exploited lead-zinc-silver mantos and veins in Hualgayoc District.

•

• 2003Gold Fields completed option agreement with Sociedad Minera Corona S.A. for purchase of Cerro Corona deposit and adjoining mining concessions.

• 2000-2001Minproc Draft Feasibility Study estimated sulphide Reserves at 65.2 Mt at 1.14 g/t Au and 0.61% Cu.However this was followed immediately by a further study, which indicated a Mineral Reserve of 95 Mt that was used in the due diligence.

• 2004-2005Gold Fields completed surface land acquisition, project engineering and design work, environmental impact assessment, pit dewatering investigations, remapping of surface geology, relogging of prior drill core, check assaying investigations and updated Mineral Resource and Mineral Reserve estimates.

• 1979Exploration by BRGM identifi ed porphyry-style mineralisation in the Cerro Corona area.

• 1992-1993Sampling by Gubbins group identifi ed gold mineralisation in leached cap of Cerro Corona deposit. Cu-Au porphyry mineralisation discovered through drilling of 9 diamond core holes and completion of exploration adit into mineralised zone.

• 1994-1996Cerro Corona optioned by Barrick. 140 reverse circulation drill holes totalling 9,476 m and 118 diamond core holes totalling 35,694 m completed in Cerro Corona deposit area. Draft Feasibility Study completed by Kilborn indicating Reserves of 6.85 Mt of oxide ore at 1.34 g/t Au and 84 Mt of sulphide ore at 1.02 g/t Au and 0.58% Cu.

• 2006Environmental impact assessment approved on 2 December 2005. Purchase transaction for the Cerro Corona Project completed in January 2006. Mine construction commenced in May 2006.

• 2008Cerro Corona moved into production in August 2008 when the process plant started to operate.

• 2007Las Gordas Tailing dam construction commenced in May 2007. Rhyolite quarry commenced mining.

• 1997-1998Cerro Corona optioned by RGC Limited. 6 diamond core holes totalling 2,760 m completed. Preliminary Feasibility Study completed by Fluor in 1998 estimated Reserves at 6.98 Mt of oxide ore at approximately 1.3 g/t Au and 133 Mt of sulphide ore at 0.91 g/t Au and 0.52% Cu.

Note: For abbreviations refer to page 23 “Mineral Resource and Mineral Reserve Overview 2009”

DisclaimerForward looking statements

Certain statements in this document constitute “forward looking statements” within the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the US Securities Exchange Act of 1934.

Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks, uncertainties and other important factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve anticipated effi ciencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold or copper; hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; infl ation and other macro-economic factors, industrial action, temporary stoppages of mines for safety reasons; and the impact of the Aids crisis in South Africa. These forward looking statements speak only as of the date of this document. The company undertakes no obligation to update publicly or release any revisions to these forward looking statements to refl ect events or circumstances after the date of this document or to refl ect the occurrence of unanticipated events.