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Beatrix Gold MineTechnical Short Form Report31 December 2011

Gold Fields: Beatrix Gold Mine – Technical Short Form Report 2011 3

Salient features

¨ Mineral Resources at 11.3 Moz.

¨ Mineral Reserves at 5.0 Moz.

¨ Grow West Section to align production to ore body capability.

¨ Optimisation of surface and underground processing.

¨ The Beatrix LoM plan extends to 2025.

The Beatrix Gold Mine has shown that low grade ore deposits can be profitably mined with a corresponding high level of productivity and contribute to Gold Fields’ long-term stated

vision, “To be the global leader in sustainable gold mining”, which is underpinned by safety, human capital, the environment and the social licence to operate.

Geographic location

BeatrixMining Right

SOUTH AFRICA

Cape TownPort Elizabeth

Welkom

Maseru

Carletonville

Kimberley

Bloemfontein

Johannesburg

Pretoria

Durban

Geographic location IFC

1. Overview Page 1

2. Key aspects Page 2

3. Operating statistics Page 3

4. Geological setting and mineralisation Page 4

5. Mining Page 5

6. Projects Page 8

7. Mineral processing Page 8

8. Sustainable development Page 9

9. Mineral Resources and Mineral Reserves Page 10

10. Regulatory codes Page 13

11. Competent Persons Page 13

12. Key technical staff Page 14

13. Brief history Page 17

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1. OverviewThe South Africa Region’s mining assets of Gold Fields Limited comprise a 100% interest in GFI Mining South Africa (Proprietary) Limited (GFIMSA), which holds a 100% interest in Beatrix Gold Mine. The mine has a new order mining right valid from 7 February 2007 to 6 February 2019 in respect of a mining right totalling 16,874 hectares in the Magisterial District Matjhabeng in the Free State Province.

Beatrix consists of four surface operating shafts that mine various gold-bearing reefs from open ground and remnants at depths between 600 and 2,155 metres below surface. Underground ore and low-grade surface stockpiles are processed at two metallurgical plants with mill throughput of approximately 3.7 Mtpa. The mine has a workforce of approximately 9,563 employees.

The 2011 geological and evaluation models of Beatrix have been updated to reflect the latest available data. These models are coupled with an integrated and holistic mine design and scheduled plan that is based on current performance levels. In summary, the Mineral Resource base has decreased by 29.6% while the overall Mineral Reserve base has decreased by 8.9% since the December 2010 declaration, mainly due to depletion, lower MCF, tail end management, geological changes and specific exclusions. A considerable increase in electricity, consumables and labour costs has further offset increased gold price revenues.

This Technical Short Form Report reflects the latest Life of Mine plan input parameters, together with an updated Mineral Resource and Mineral Reserve statement, as at 31 December 2011. All Mineral Resource and Mineral Reserve figures reported are managed unless otherwise stated and the Mineral Resource is inclusive of the Mineral Reserve.

Cover image:

Beatrix No 1 Shaft.

Note: For abbreviations refer to page 28 and for glossary of terms refer to page 29 – “Mineral Resources and Mineral Reserves Overview 2011”.

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Gold Fields: Beatrix Gold Mine – Technical Short Form Report 2011 2

2. Key aspects

Independent audit Figures reported in this declaration are as reviewed by independent external consultants as at 31 December 2011 (Optiro Pty Limited). Gold Fields has been informed that the audit identified no material shortcomings in any process by which the Beatrix Mineral Resources and Mineral Reserves were evaluated

Prepared by Gold Fields Limited in compliance with the SAMREC Code (2007 edition)

Effective date 31 December 2011

Source of information This Technical Statement is a summary of the internally sourced document entitled Beatrix Competent Persons Report December 2011

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

General location Beatrix Mine is situated in the Magisterial District of Matjhabeng, at latitude 28° 15’ S and longitude 26° 47’ E near the towns of Welkom and Virginia, some 240 kilometres southwest of Johannesburg, in the Free State Province of South Africa. The site is accessed via the N1 highway between Johannesburg and Kroonstad, and then via the R34. Geologically it is located in the Free State Goldfield and is the southernmost mine in the Witwatersrand Basin

Licence status and holdings

Beatrix currently has a new order mining right valid from 7 February 2007 to 6 February 2019 in respect of a mining area totalling 16,874 hectares in terms of the Minerals and Petroleum Resources Development Act No. 28, 2002 (the MPRD Act). All required operating permits have been obtained, and are in good standing

Operational infrastructure Beatrix is a large, well-established shallow to intermediate level gold mine that is accessed from surface to 26 level (the lowest working level) at 3 Shaft, some 1,350 metres below surface, and 24 level (the lowest working level) at 4 Shaft, some 2,155 metres below surface. Beatrix consists of four shaft systems and two gold plants

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

Deposit type Shallow to intermediate depth gold mine exploiting auriferous palaeoplacers (reefs), i.e. the Beatrix Reef and the underlying Kalkoenkrans Reef, both of the Kimberley Conglomerate Formation

Life of Mine (LoM) It is estimated that the current Mineral Reserve will be depleted in 2025

Environmental/Health & Safety

Beatrix’s systems, procedures, training etc. are at international best practice levels. ISO 14001:2004 certification has been obtained for this operation. The mine remained accredited for OHSAS 18001:1999 and obtained full compliance for International Cyanide Management Code and certification in June 2009

Reporting codes Gold Fields 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), and other relevant international codes such as SEC Industry Guide 7, JORC Code and NI 43 – 101. The Mineral Resources and Mineral Reserves are underpinned by an appropriate Mineral Resource Management process and protocol to ensure adequate corporate governance in respect of the intent of the Sarbanes-Oxley Act

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3. Operating statistics

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UnitsDec

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20101 June2010

June2009

June2008

Surface mining

Total mined kt 1,476 613 190 – –

SRD material to plant (screened) kt 1,476 613 190 – –

SRD Head grade g/t 0.4 0.6 1.1 – –

TSF material to plant kt – – – – –

TSF Head grade g/t – – – – –

Underground mining

Ore mined kt 2,052 1,133 2,435 2,481 2,646

Mined grade g/t 7.0 7.1 6.7 6.3 6.4

Primary development km 23.4 12.7 29.8 32.6 40.8

Primary reef developmentAdvanced km 5.7 3.5 5.5 6.7 8.3

Value cm.g/t 1,237 1,001 1,492 963 974

Processing – Underground tonnes kt 2,341 1,352 2,861 2,991 3,215 – Surface tonnes kt 1,476 613 190 – –

Total tonnes treated kt 3,817 1,965 3,051 2,991 3,215 – Mill head grade (underground) g/t 4.6 4.6 4.4 4.3 4.4 – Mill head grade (surface) g/t 0.4 0.6 1.1 – –

Total head grade g/t 3.0 3.3 4.2 4.3 4.4

– Yield

Underground g/t 4.4 4.4 4.2 4.1 4.2

Surface SRD g/t 0.3 0.5 1.0 – –

Surface TSF g/t – – – – –

Combined yield g/t 2.8 3.2 4.0 4.1 4.2

Plant recovery factor

Underground % 95.4 95.5 95.6 95.7 96.1

Surface SRD % 93.1 93.1 93.1 – –

Surface TSF % – – – – –

Gold Produced

Underground kg 10,313 6,001 11,996 12,164 13,625

SurfaceSurface SRD kg 474 281 192 – –

Surface TSF kg – – – – –

Total gold producedkoz 347 202 392 391 438

kg 10,787 6,282 12,188 12,164 13,625

Gold sold oz 346,810 201,971 391,853 391,082 438,054

Financial

Operating cost

UndergroundR/kg 224,073 199,639 189,352 167,513 126,588

R/t 987 886 794 681 536

SurfaceR/kg 206,559 126,179 9,251 – –

R/t 66 58 9 – –

Total cash cost

R/kg 222,073 192,104 180,358 159,799 120,382

R/t 628 614 721 650 510

US$/oz 957 837 740 552 515

Capital expenditure

R million 611 305 651 629 577

R/kg 56,642 48,489 53,384 51,736 42,322

US$/oz 244 211 219 179 181

Notional cash expenditure (NCE)R/kg 279,957 244,842 239,867 219,254 168,903

US$/oz 1,206 1,067 984 757 723

General

Employees (TEC) number 9,563 9,738 10,216 10,516 10,769

Mineral Reserves Mt 39.5 41.4 38.6 41.0 41.5

Mineral Reserve Head Grade g/t 3.9 4.1 4.6 4.9 5.0

Mineral Reserves Moz 5.0 5.5 5.7 6.5 6.7

Expected Life of Mine years 14 15 12 13 121 Figures shown represent the six months to 31 December 2010. Rounding off of figures presented in this report may result in minor computational discrepancies. Where this occurs it is not deemed significant. SRD: Surface Rock Dump and TSF: Tailings Storage Facility.

Gold Fields: Beatrix Gold Mine – Technical Short Form Report 2011 4

Beatrix Gold Mine is situated in the geologically unique and world-renowned Witwatersrand Basin, which is the world’s premier gold region. The mine is the southernmost mine in the

Witwatersrand Basin, locally called the Free State Goldfield.

The Beatrix mining area is underlain by Karoo Supergroup sediments followed by the Klipriviersberg Group volcanic rocks, which in turn are underlain by the Central Rand Group that hosts the gold-bearing conglomerates (reefs) exploited by Beatrix Gold Mine.

Gold is mainly of detrital origin, deposited syngenetically with the conglomerates, which are generally less than two metres thick and interrelated with sedimentary features such as unconformities and fluvial channels. The Central Rand Group in the Free State Goldfield comprises some 2,000 metres of discrete sedimentary sequences deposited over successive unconformity surfaces in an expanding depositional basin.

Structurally, the Free State Goldfield lies within a north-south trending syncline forming an apex in the south-western corner of the Witwatersrand Basin. The paucity of major faulting and folding of Central Rand Group age has led to the conclusion that subtle tectonic warping of the basin with granite doming on the margins controlled deposition.

4. Geological setting and mineralisation

Initially, the Beatrix 4 Shaft was developed to exploit the Beisa Reef for uranium. The development of this shaft centred on utilising the original Beisa Shaft and a sub-shaft to access the Kalkoenkrans Reef preserved within and beneath the western border overturned structure.

Local geologyThe principal reefs mined in the Free State Goldfield are the Basal Reef, the Saaiplaas Reef, the Leader Reef, the ‘B’ Reef, the ‘A’ Reef, Elsburg and the Dreyerskuil Reefs. Beatrix is situated in the far south of the goldfield and is unique compared to other operations in that it exploits the Beatrix Reef (BXR), Aandenk Reef (AAR), VS5 Reef (VS5) and Kalkoenkrans Reef (KKR), as well as composites of all of the above. Mining has been typically on the BXR in the south from 2 Shaft through to 1 Shaft in the north. At Beatrix 3 Shaft, mining is in general on reef types associated with a transition from BXR to AAR. To the north of 3 Shaft the VS5 erodes the underlying AAR. The BXR is not developed at 4 Shaft where the principle reef is the KKR.

The mining area is structurally dominated by a major overfold structure, which is a large north-trending synclinal fold associated with the western margin of the Witwatersrand Basin. Major geological structures within the Beatrix mining right comprise normal faults and gentle folding sub-parallel to the overfold. Sympathetic to it are east-west to east-southeast west-northwest trending dykes and younger, easterly trending wrench faults.

Both the BXR and KKR dip at generally shallow angles, with the BXR dipping at 0° to 15° to the north and the KKR dipping regionally to the east at 8° to 15° in the eastern areas of the mine. However, in the west, the dip of the KKR steepens to vertical in the overfold.

Historically, over a five-year review period, geological losses have been estimated at 5% in most areas, increasing up to 10% in localised parts of the mine. These losses are accounted for in the major structures interpreted in the structural models.

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South-East

3 Shaft 1 Shaft

VS5 AAR

BXR

2 Shaft

Mining Right boundary

WEST RAND GROUP

CENTRAL RAND GROUP

Karoo Supergroup

Ventersdorp Lava

KKR

BEISA REEF

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The Beatrix Reef (and local facies variations thereof) constitutes 61% of the Mineral Reserves, the Kalkoenkrans Reef 38% and the remaining 1% from surface sources.

Exploration and drillingExploration drilling was generally executed from surface on irregular grids of 500 to 2,000 metres dependent on historical exploration strategy, depth of the mineralised horizons and geological uncertainty. Once underground access is available, infill grade control drilling is undertaken from access haulages and cross cuts to provide a 30 to 100 metre

5. Mining

Beatrix comprises four operational shafts. The final depths below surface of 1 and 2 Shafts are 913 metres and 961 metres respectively. They were equipped in 1983 and full production was achieved in May 1985. 3 Shaft, which was sunk to a final depth of 1,447 metres, was commissioned in 2001. West Section operates via a surface shaft and sub-vertical shaft system with two dedicated ventilation shafts, and has eight working levels spaced 50 metres vertically apart down to a depth of 2,155 metres below surface. The layouts are typically the same as at the North and South Sections.

Mining methodsStoping operations at North and South Sections are at depths of 668 to 1,300 metres below surface. Fifteen levels at 50 metre vertical intervals, developed approximately 50 metres below the reef, provide access and serve the mining activities. All main haulage development on Beatrix is carried out as twin haulages to reduce the risk associated with methane and to accommodate the scattered mining layout. The flat dip of the ore body

Beatrix is a large, well-established shallow to intermediate level gold mine that is accessed from surface to 26 level (the lowest working level) at 3 Shaft, some 1,350 metres below surface, and

24 level (the lowest working level) at 4 Shaft, some 2,155 metres below surface.

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grid depending on geological requirements from structural, safety and evaluation perspectives.

Conventional underground grid, prospect and infill grade control drilling is planned for 2012 and will take place from main development at all shafts to gain additional information on facies variations, grade distribution and structure models, to optimise mine design for short and mid-term planning.

Strategic resource definition drilling, from underground drilling platforms, will continue as planned during 2012,

mainly at the West and North Sections. The purpose of this drilling is also to reduce the risk with respect to reef value, structure (for planning purposes) and smectite distribution (specific to the West Section).

Beatrix maintains rigorous quality assurance and quality control (QA/QC) protocols on all of its exploration programmes using best industry practice in data acquisition, reputable laboratories and sign-off by Competent Persons under the 2007 SAMREC Code.

3 L4 L5 L

17 L18 L19 L20 L21 L22 L23 L

24 L

16 L

2,091 mbc

2,303.5 mbc

1,071 mbc

Vent S/V shaft

tpm: Tonnes per montht/hour: Tonns per hourL: Levelmbc: Metres below surfaceS/V: Sub-vertical

TPS1 L2 L

West East

Hoisting capacity:120,000 tpm

Main S/V shaftHoisting capacity

120,000 tpm

GOLD PLANT130,000 tpm SURFACE

4 B VENTSHAFT

4 VENTSHAFT

4 MAINSHAFT

South North2 SHAFT

GOLD PLANT246,000 tpm

Hoisting capacity:138,000 tpm

22 L23 L24 L25L

912.5 mbc

21 L22 L23 L24 L25 L26 L

13 L14 L15 L16 L

17 L18 L

960.6 mbc19 L

20 L

tmp: Tonnes per montht/hour: Tonnes per hourL: Levelmbc: Metres below surface

Hoisting capacity:138,000 tpm

16 LEVEL/30 LEVEL

Hoisting capacity:170,000 tpm

1 SHAFT VENTSHAFT

341.5 mbc1,446.5 mbc

3 SHAFT

SURFACE

Gold Fields: Beatrix Gold Mine – Technical Short Form Report 2011 6

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requires some cross cuts to reef to be extremely long, resulting in on-reef raise development of between 200 and 500 metres between levels. Access to the reef horizon (for stoping the reef) is by means of inclined travelling ways from which the raise is developed to the next level, depending on the structure, evaluation, environmental and rock engineering parameters. Cross cuts and raises are generally 120 metres apart on strike.

The raise becomes the centre gully during stoping operations. Stoping panels are ~30 metres in length. The blasted ore is scraped to the strike gully, which delivers the rock via the centre gully to the ore passes. Locomotive-drawn hoppers convey the ore from the ore pass box to the shaft ore pass system.

Conventional breast mining is the main mining method throughout all the shafts, which allows for scattered or selective mining to be practised throughout.

At 3 Shaft, hydro-power, as opposed to compressed air, is used for a variety of activities including drilling. The benefits of this include improved cooling and machine efficiency, lower noise levels and less power wastage.

VentilationThe North and South Sections of Beatrix have four downcast shafts, of which 2 Shaft has a brattice wall to facilitate both up and downcast flow of ventilation. The 2 Shaft upcast returns the ventilation circulated at Beatrix South, whilst the upcast shaft at 3 Shaft returns the ventilation from Beatrix North. The 2B Ventilation Shaft is a downcast shaft situated in the west of 2 Shaft, with its primary purpose to ventilate the Beatrix South workings. The total airflow quantity circulating through the North and South complex of Beatrix is 1,042m3/s.

Beatrix West Section has two downcast shafts from surface to 5 level and a single sub-vertical downcast shaft from 5 level to shaft bottom. The upcast facility consists of a sub-vertical upcast shaft from 21 level to 5 level and from 5 level through the 4B Ventilation Shaft which extends to surface. In addition to the sub-vertical ventilation shaft, there is a 3.5-metre diameter raise bored shaft from 17 level to 5 level, which connects with both the sub-vertical ventilation shaft as well as 4B Ventilation Shaft. The total airflow quantity circulating through Beatrix West Section is 600m3/s.

Refrigeration and CoolingNorth SectionA 20.6 MW ammonia refrigeration plant, consisting of three Stal Astra machines, is situated on surface and is designed to chill 425 l/s of water to a temperature 0.5°C. Cooling is provided by means of a 15 MW surface bulk air cooler situated at 3 Shaft.

West SectionA 39 MW ammonia refrigeration plant, consisting of four Howden machines, is situated on surface and is designed to chill 900 l/s of water to a temperature of 0.5°C.

Cooling is utilised as follows: ¨ 9.4 MW surface bulk air cooler at 4 shaft, with a packed

tower configuration and a nominal flow rate of 300 kg/s. ¨ 9.7 MW surface bulk air cooler at 1A Vent Shaft, with a

packed tower configuration and a nominal flow rate of 300 kg/s.

¨ Two bulk air coolers with a capacity of 2 MW each are installed underground in the 20C3 South and 20C4 South drives respectively. These bulk air coolers provide cooling to the Zone 5 mining area above 20 level.

¨ Chilled water is furthermore utilised throughout the underground mining areas of the West Section.

Methane managementThe mine has a well executed methane management system to control this risk, which comprises the following:

¨ The detection of flammable gas is most important in order to institute control measures and therefore, the availability of flammable gas detection instruments (methanometers) is imperative. At Beatrix North and South Sections, the mine has a telemetry system to which strategically placed flammable gas sensors, velocity sensors, critical fans, as well as carbon monoxide sensors are connected. These conditions are monitored in control rooms at Beatrix North and South Sections respectively on a 24-hour basis;

¨ Where methane gas is continually present in the general atmosphere in concentrations of more than 0.5%, the mine declares hazardous locations based on the results of risk assessments. Hazardous locations require special operating conditions such as explosion protected apparatus, telemetry standards and, most importantly, awareness training of all employees in such working places;

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¨ To ensure proper supervision at all working places, the mine instituted a Work Place Management (WPM) system. These documents contain, among others, all special instructions, hazard identification, risk assessments, Department of Mineral Resources (DMR) recommendations, flammable gas register and handing over notes. The WPM system is used to give any new person or a person acting in a specific section the required induction, so as to ensure the required knowledge and awareness in his or her area of responsibility.

In addition to the normal flammable gas induction training, the mine also has regular awareness training sessions.

Methane extraction projectThe mine embarked on a project to flare and generate electricity from a planned extraction flow rate of 400 l/s of methane gas captured at the mine’s South Section, which has a total methane emission rate of 988 l/s. This is based on gas sample analyses relative to the ventilation flow.Partial extraction and flaring of the methane gas commenced in May 2011 although it is expected that the design extraction flow rate of 400 l/s should be reached by mid 2012. Phase 2 of the project is to generate 4 MW of electricity once stable methane gas flows have been established.

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Mine planning and schedulingDesigns and schedules are continuously modified and optimised as new information becomes available. All designs and schedules are done in consultation with production and other technical personnel. Production efficiencies are based on past experience and production models describing activities for the different development layouts and equipment used.

Mineral Reserve development will continue to be a key performance indicator in 2012 and will be accelerated further in appropriate areas. The following tables detail the development advanced for the last 12 months to December 2011. A total of 23.4 kilometres was developed with 5.7 kilometres driven on-reef.

Development results

Category Beatrix KKR1

Advanced (metres) 16,978 6,404

On-reef (metres) 4,360 1,342

Sampled (metres) 4,218 1,179

Channel width (cm) 126 104

Average reef grade (g/t) 8.9 15.9

Average value (cm.g/t) 1,125 1,6581 Kalkoenkrans Reef

Production and hoisting capacities

Shaft zoneOperating

shaftHoistingcapacity

North Section 3 170,000

South Section 1 138,000

South Section 2 138,000

West Section 4 120,000

West Section 4 SV 120,000

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Gold Fields: Beatrix Gold Mine – Technical Short Form Report 2011 8

At the North Section (3 Shaft and Vlakpan area), stoping volumes are maintained or increased until C2025 and current development volumes are maintained until C2016, after which time a decline in volumes occurs as the Mineral Reserve will be nearing full development.

This production profile is underpinned by two incremental growth areas that have been added to the North Section. The strategy maximises the LoM of the 3 Shaft complex and extraction from the current infrastructure. The North Section has a Mineral Reserve of 83.6 tonnes (2.7 Moz) of gold and contributes 54% of the Mineral Reserve base of Beatrix. The LoM for the North Section is now estimated to 2025.

The first incremental growth area at North Section is to access the Vlakpan ground, situated to the far west of 3 Shaft and with a Mineral Reserve of 10.5 tonnes (0.37 Moz) of gold. The second growth area at North Section is winze mining of zone 51 from 26 level, adding 7.7 tonnes (0.25 Moz) of gold to the Mineral Reserve base.

South Section (1 and 2 Shafts) is currently focused on mining available Mineral Reserve blocks, resulting in the immediately available Mineral Reserve declining in the short term. The current 2 Shaft infrastructure will have a phased closure over the next two years and the Mineral Reserve at South Section is now 10.5 tonnes of gold (0.34 Moz) or 7% of the Beatrix Mineral Reserve base. The LoM for the South Section is estimated at 2018.

At West Section (4 Shaft) underground drilling and development has continued to support the macro-structure

and extension of the higher-grade zones 405, 451 and 453 to the south. Local areas of higher grade facies and improved facies/evaluation models have been incorporated in this plan. Delays and impacts associated with smectite (swelling clays) in a number of tunnels, as well as application of the “Theory of Constraints” to eliminate current bottlenecks/optimised layouts, have been taken into account with current mine access tunnel design and scheduling. A number of alternative access ways, either in the hangingwall or in deep footwall, have been designed to ensure long-term tunnel stability and to support the future production profile. A general increase in production volumes at West Section from the current base of 8,500 m2 (C2011) up to 11,000 m2 a month has been planned. The expected LoM for the West Section is 2024 with the overall Mineral Reserve base at 58.4 tonnes of gold (1.878 Moz) or 37.9% of the Beatrix Mineral Reserve base.

The current major mine projects at Beatrix are the development towards Vlakpan, development of the North Block at West Section and the winzes below 26 level at North Section.

6. Projects

7. Mineral processing

Beatrix 1 Plant has been converted to a reef only plant and underground reef tonnage from 4 Shaft is transported by road to be processed at the plant. Ore storage silos at the plant have a capacity to store 14,000 tonnes of dry ore and facilities also allow for ore to be stockpiled and reclaimed outside the plant. The plant uses four semi-autogenous grinding mills with installed power of 3 MW per mill. The downstream process is matched to the milling capacity of 246 ktpm at 95.6% recovery and comprises three 60-metre diameter thickeners and 12 mechanically agitated carbon-in-leach tanks with a combined volume of 18,000 m3.

The plant further has two pressured Zadra elution circuits rated at 20 tonnes of carbon per day and utilises steam from the mine boilers as heating energy. Regeneration of carbon is carried out in two rotary kilns with a capacity of 500 and 350 kg/hr.

In 2003, a gravity gold recovery circuit was retrofitted at 1 Plant and each mill now has a 30-inch Knelson

concentrator that recovers gold concentrate from the mill cyclone underflow. An Acacia intensive leach reactor is used to dissolve gold contained in the concentrate, and this gold is then recovered from solution by electrowinning. The concentrate is currently being tabled using a Gemini table. Cathode sludge is recovered by high-pressure washing and filtration before smelting to produce doré. Bulk reagent storage facilities inside the plant include storage for dry lime, sodium cyanide solution, caustic soda solution, hydrochloric acid and liquid oxygen. Water treatment chemicals are used to control water quality to the Knelson concentrators.

The plant was originally designed to treat 170 ktpm. The fourth milling circuit was added in 1996 and current operational capacity is estimated at 246 ktpm. The projected LoM throughput averages 200 ktpm and peaks at 225 ktpm.

2 Plant was commissioned in 1992, is situated at 4 Shaft and has recently been converted into a waste processing plant. The source of the waste is from the North Waste Rock Dump

Beatrix incorporates two metallurgical plants; the Beatrix 1 Plant, situated between 1 and 2 Shafts and the Beatrix 2 Plant, situated at 4 Shaft.

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situated at 4 Shaft as well as underground waste material from 4 Shaft.

Four RoM mills are used with installed power of 2 MW per mill and milling capacity is rated as 130 ktpm at a recovery of 93%. The downstream process comprises three 50-metre diameter thickeners, eight mechanical agitated leach tanks with a combined volume of 13,000 m3 and a carousel type carbon adsorption circuit comprising eight stages.

The elution circuit is also a pressure Zadra circuit and is designed to elute 10 tonnes of loaded carbon per day

utilising fuel-fired burners for heating energy. Regeneration of carbon takes place in one of two rotary kilns. A gravity circuit, installed in October 2006, and a standalone 30-inch Knelson Concentrator is fed by each of the running mills and recovers gold concentrate from the mill discharge sump. This concentrate is further enriched on an automated Gemini table and then smelted to produce gold bullion.

Beatrix 1 and 2 Plants achieved full compliance from the International Cyanide Management Code (ICMI) body during an external cyanide audit conducted during June 2009.

Plant capacities

PlantCapacity

(tpm)Recoveryfactor (%)

Material treated

1 – CIL 246,000 96 Underground

2 – CIP 130,000 93 Surface

8. Sustainable development

As part of this business imperative, Gold Fields has introduced structures that encourage a networked interface between disciplines like safety, health, environmental engineering, natural environment, risk, stakeholder engagement, legal and communication. This approach has allowed Gold Fields to capitalise on synergies and to avoid duplication. In this regard, several Key Performance Indicators (KPIs) are monitored and utilised to make informed business decisions.

Beatrix has initiated a brick-making project that is designed to create employment, develop skills and alleviate poverty. Beatrix is also assessing the potential for introducing a day care centre that its employees will be able to utilise.

Beatrix’s environmental initiatives are focused on reducing the impact that the mine may have on the environment through concurrent rehabilitation and responsible water management. Water

management is a high priority. All potential sources of pollution like the water discharges are monitored and sampled on a regular basis.

Beatrix has committed itself to the Mine Health and Safety Council target set by the industry in conjunction with the DMR. These milestones are based on rate improvements for fatalities,

noise-induced hearing losses and silicosis, with the objective of aligning to international norms.

For details on the Social and Labour Plan refer to Section 5 in the Integrated Annual Review.

Gold Fields has embraced sustainable development as a business imperative, which is reflected in its vision, values and strategy.

Safety statisticsClass Units June 2008 June 2009 June 2010 Dec 20101 Dec 2011

Fatalities Number 4 4 1 4 5

Fatality rate per mmhrs 0.13 0.13 0.03 0.29 0.19

LDIFR per mmhrs 3.92 5.22 3.29 3.02 2.921 For six months to December 2010.

Bea

trix

spo

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Gold Fields: Beatrix Gold Mine – Technical Short Form Report 2011 10

The Beatrix Mineral Resource and Mineral Reserve declaration is based on systematic and sustainable mineral reporting practices. Underground mapping and exploration drilling consistently updates geological structural and facies models, which are used as the basis of each declaration. Ongoing sampling of all development and stoping on a grid basis is carried out to provide additional data that is incorporated into a detailed evaluation model.

Updated mine designs and schedules are then compiled and evaluated based on the most recent technical-economic models to compile a LoM plan for each operational shaft, taking note of infrastructural capacities, limitations and the need for any additional infrastructure requirements. Detailed economic and scenario models are subsequently completed to ensure validity of a positive cash flow for Mineral Reserve declaration purposes. Peer reviews, as well as internal and external audits, ensure consistency and compliance to regulatory codes. Beatrix’s Mineral Resource and Mineral Reserve are reported within its mining right and are adjusted to show the split between above (AI) and below (BI) current shaft infrastructure.

Mineral ResourcesMineral Resources are quoted at an appropriate in situ economic cut-off grade with tonnages and grades based on the relevant resource block model, which include estimates of any material below the cut-off grade required to be mined to extract the complete pay portion.

Mineral Resourcesclassification

Tonnes (Mt) Grade (g/t) Gold (’000 oz)

Dec 2011

Dec 2010

June 2010

Dec 2011

Dec 2010

June 2010

Dec 2011

Dec 2010

June 2010

Underground

Measured 20.4 15.6 22.6 6.9 8.1 6.1 4,555 4,072 4,465

Indicated (AI) 30.2 31.3 37.5 6.2 6.8 6.6 5,980 6,854 7,942

Inferred (AI) 2.8 3.7 1.9 6.4 7.9 8.8 585 940 540

Total above infrastructure 53.5 50.6 62.0 6.5 7.3 6.5 11,120 11,866 12,947

Indicated (BI) – 23.3 28.6 – 5.4 4.5 – 4,044 4,114

Inferred (BI) – 0.1 – – 7.5 – – 24 –

Total below infrastructure – 23.4 28.6 – 5.4 4.5 – 4,068 4,114

Total underground 53.45 74.0 90.6 6.5 6.7 5.9 11,120 15,934 17,061

Surface stockpiles

Indicated 12.4 5.8 3.0 0.4 0.4 0.4 156 78 35

Total surface stockpiles 12.4 5.8 3.0 0.4 0.4 0.4 156 78 35

Grand total 65.9 79.8 93.6 5.3 6.2 5.7 11,276 16,012 17,096

Notes: AI = Above Infrastructure and BI = Below Infrastructure.

9. Mineral Resources and Mineral Reserves

Geological and evaluation models have been updated to reflect the latest available data sets. These models are coupled to an integrated mine design and schedule that takes account of

current performance levels and operational risks inherent to the production plan.

Modifying factors ¨ The Measured and Indicated Mineral Resources are

inclusive of those Mineral Resources modified to produce Mineral Reserves;

¨ Both the Mineral Resources and Mineral Reserves are quoted as 100% (managed) and are wholly owned by GFI Mining South Africa (Pty) Limited;

¨ The Mineral Reserves are quoted in terms of RoM grades and tonnage as delivered to the metallurgical processing facilities and are fully diluted; and

¨ The Mineral Reserve statement includes only the Measured and Indicated Mineral Resources, modified to produce Mineral Reserves contained in the LoM plan.

¨ Mineral Resources and Mineral Reserves undergo both internal and external audits during the year and any issues identified are rectified at the earliest opportunity.

Mineral Resource and Mineral Reserve parameters

Dec 2010

Dec 2011

Mineral Resource gold price (US$/oz) 1,100 1,450

Mineral Resource gold price (ZAR/kg) 290,000 340,000

Exchange rate (ZAR:US$) 8.24 7.42

Mineral Resource pay limit (cm.g/t) 790 840

Mineral Reserve gold price (US$/oz) 1,000 1,300

Mineral Reserve gold price (ZAR/kg) 265,000 310,000

Mineral Reserve pay limit (cm.g/t) 870 920

Mine Call Factor (%) 84 79

Block factor (%) 100 100

Shortfall (%) 10.4 5.0

Stoping width (cm) 160 164

Mill width (cm) 200 194

Plant recovery % 96 96

11

Grade tonnage curveThis grade tonnage curve represents undiluted grade (at block width) and tonnes within the total Mineral Resource. Underground Mineral Resources make provision for minor faulting and minor geological losses.

Underground

175

140

105

70

35

0

25

20

15

10

5

00 5 10 2015

Cut-off grade (g/t)—

Ave

rage

gra

de a

bove

cut

-off

(g/t

)

— T

onne

s (m

illio

ns)

Mineral ReservesMineral Reserve estimation at Beatrix is based on the development of an appropriately detailed and engineered LoM plan, which accounts for all necessary access development and stope designs. All design and scheduling work is undertaken with mine-planning software. The planning process incorporates appropriate modifying factors and the use of cut-off grade policies and technical-economic investigations.

Despite an increase in the gold price, pay limits have increased due to a concomitant increase in overall cost. Optimised mine design and scheduling on the Mineral Reserve estimate, utilising a US$1,300 per ounce gold price, resulted in a Proved and Probable Mineral Reserve estimate as at 31 December 2011, as follows:

Mineral Reserveclassification

Tonnes (Mt) Grade (g/t) Gold (’000 oz)

Dec 2011

Dec2010

June 2010

Dec 2011

Dec2010

June 2010

Dec 2011

Dec2010

June 2010

Underground

Proved 23.4 8.1 10.3 4.6 5.0 4.8 3,437 1,311 1,585

Probable (AI) 10.5 27.5 23.0 4.3 4.6 5.1 1,465 4,056 3,749

Probable (BI) – – 2.4 – – 4.8 – – 371

Total underground 34.0 35.6 35.6 4.5 4.7 5.0 4,901 5,367 5,705

Surface stockpiles

Probable 5.5 5.8 3.0 0.3 0.4 0.4 57 78 35

Total surface stockpiles 5.5 5.8 3.0 0.3 0.4 0.4 57 78 35

Grand total 39.5 41.4 38.6 3.9 4.1 4.6 4,958 5,445 5,740

Notes: AI = Above Infrastructure and BI = Below Infrastructure.

Mineral Reserveclassified per mining area

Proved Probable Total Mineral Reserve

Tonnes(kt)

Grade(g/t)

Gold(koz)

Tonnes(kt)

Grade(g/t)

Gold(koz)

Tonnes(kt)

Grade(g/t)

Gold(koz)

Underground

North section 15.4 3.8 1,900 7.0 3.5 786 22.4 3.7 2,686

South section 1.9 4.4 265 0.5 4.5 72 2.4 4.4 337

West section 6.2 6.4 1,271 3.0 6.2 607 9.2 6.3 1,878

Total underground 23.4 4.6 3,436 10.5 4.3 1,465 34.0 4.5 4,901

Surface stockpiles

Surface – – – 5.5 0.3 57 5.5 0.3 57

Total surface stockpiles – – – 5.5 0.3 57 5.5 0.3 57

Grand total 23.4 4.6 3,436 16.0 3.0 1,522 39.5 3.9 4,958

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Gold Fields: Beatrix Gold Mine – Technical Short Form Report 2011 12

Factors that affected Mineral Reserve reconciliation:

¨ Depletion since December 2010;

¨ Exclusions due to changes in geological structures and mining strategy;

¨ Pay limit changes and decrease in MCF; and

¨ Increase in stope width.

Change in Mineral Reserves December 2010 to December 2011

Gol

d (M

oz) 6

5

4

3

2

1

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5.40.4

0.4

0.2 0.02

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5.0

Factors that affected Mineral Resource reconciliation:

¨ Depletion since December 2010;

¨ Modelling changes;

¨ Exclusions of areas not accessible from current or planned infrastructure;

¨ Exclusions of small remnant pillars; and

¨ Pay limit changes.

18

16

14

12

10

8

6

4

2

0

Change in Mineral Resources December 2010 to December 2011

Gol

d (M

oz)

Mod

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16.0 0.3

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1.9

11.8 0.5 11.3

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Mineral Reserve SensitivityThe following graph indicates the Mineral Reserve Sensitivity at -10%, -5%, Base, +5%, + 10% and +25% to the gold price.

The sensitivities are not based on detailed depletion schedules and should be considered on a relative and indicative basis only.

Managed Mineral Reserve Sensitivity

Gol

d (M

oz)

3.7 4.0

5.05.2 5.5

6.4

(-10%) (-5%) (+5%) (+10%) (+25%)

Gold price (ZAR/kg)

(Base)310,000

8

7

6

5

4

3

2

1

0

Mineral Resources and Mineral Reserves reconciliation year-on-year

13

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10. Regulatory codes

SAMRECThis 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 Listings Requirements of the JSE Limited (JSE), South Africa, specifically Section 12.

Sarbanes-Oxley ActMineral Resources and Mineral Reserves are underpinned by an appropriate Mineral Resource Management process and protocol to ensure appropriate corporate governance in respect of the intent of the Sarbanes-Oxley Act.

EnvironmentalBeatrix has an environmental management team who are supported by specialists from the South African Regional office at Libanon. The systems, procedures, training etc. are at international leading practice levels.

11. Competent Persons

Competent Persons

SG Becker: Manager Mine Planning and Resource ManagementBEng (Mining), Mine Manager’s Certificate, ECSA (Registration number: 875564). Mr Becker has over 30 years’ experience in the mining industry of which eight years have been at Beatrix Gold Mine.

LC Esterhuizen: Chief SurveyorMine Survey Certificate of Competency, IMSSA (Registration number 2218/2009). Mr Esterhuizen has over 30 years’ experience in the mining industry of which 15 years have been at Beatrix Gold Mine.

C Opperman: Chief Mine PlannerND Mine Surveying, LDP (Unisa), MAP, IMSSA (Registration number 2189). Mr Opperman has over 30 years’ experience in the mining industry of which 10 years have been at Beatrix Gold Mine.

Internal technical reviews have been conducted by the Competent Persons as listed, who are full-time employees of Gold Fields Limited.

Gold Fields: Beatrix Gold Mine – Technical Short Form Report 2011 14

Post Incumbent Qualifications Years Key responsibilities

Vice President and Head of Operations

Ben Haumann Mine Manager’s Certificate 34 Overall strategic direction, leadership and management

Manager: Mine Planning and Resource Management

Gerhard Becker BEng (Mining Engineering) Mine Manager’s Certificate ECSA

30 Mine planning, Mineral Resources and Mineral Reserves and compilation of CPR

Senior Manager Operations: West

Riaan vd Berg BSc (Hons), MSc, Mine Manager’s Certificate

23 Full operational managementWest Section

Senior Manager Operations

Dawie Venter Mine Manager’s CertificateSMDP

29 Full operational managementNorth Section

Senior Manager Operations

Themba Ngobeni NHD Metal Mining, Mine Manager’s Certificate

22 Full operational managementSouth Section

Finance Manager Angela Daniels National Diploma Cost Management

15 Financial reporting and compliance

Manager Human Resource

James Muller IPM Personnel Diploma, BTech Hons

31 Human resources management

Metallurgy Manager Les van Niekerk National Higher Diploma, Metallurgical, Extraction ECSA

36 Metallurgical management

Senior Manager Engineering

Frans Heyneke NHD Technical, GCCMechanical, GCC Electrical, ECSA, AMRE

36 Engineering, logistics, infrastructure and capital management

12. Key technical staff

1 P

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Gold Fields: Beatrix Gold Mine – Technical Short Form Report 2011 17

13. Brief history

The history of Beatrix

1933:Exploration in the Free State started as far back as 1885 but only commenced in earnest in 1933 when the first borehole was drilled on the farm Aandenk 227 HP. The discovery of the Basal Reef in 1939 set exploration afire, which resulted in a score of mines being developed in the Free State.

1969: Exploration drilling for gold and uranium commenced in the southern limits of the Free State Goldfields.

1976:General Mining acquired Union Corporation in 1976. General Mining Union Corporation Limited, as it was then called, became Gencor Limited.

1981: Beisa Shaft commissioned to exploit uranium. Sinking of Beatrix 1 and 2 Shafts commenced.

1984: Beisa Uranium Mine closed due to the low prevailing uranium price.

1985:Beatrix 1 and 2 Shafts commissioned. Exploration for Kalkoenkrans Reef in the vicinity of the old Beisa Mine commenced.

1987:Sinking of two new sub-vertical shafts and a ventilation shaft at Beisa Mine, renamed Oryx Mine, to exploit gold, commenced.

1993: Gold production began at Oryx Mine.

1995: Sinking of Beatrix 3 Shaft Complex and down dip expansion of mine commenced.

1998:A new company, Goldco, is formed, which brought together the gold assets of Gold Fields of South Africa Limited with those of the unbundled Gencor. Goldco was later renamed Gold Fields Limited.

2001: Beatrix 3 Shaft completed.

2002:St Helena Gold Mine sold to Freegold, Beatrix and Oryx mines merged to form Beatrix Gold Mine. Beatrix Gold Mine is awarded ISO 14001 certification in July 2002.

2003:Beatrix Gold Mine achieves one million and Beatrix North and South Sections achieve two million fatality-free shifts for the first time.

2004:Completion of a new surface ventilation shaft to service the south-west corner of the mine near 2 Shaft. Beatrix Gold Mine achieves two million fatality-free shifts for the first time.

2005: Beatrix North and South Sections achieve three million fatality-free shifts for the first time.

2007: Beatrix Gold Mine granted new order mining right.

2009:Beatrix Gold Mine achieves full compliance from the ICMI during an external cyanide audit conducted during June 2009.

2010: Beatrix West Section achieves two million fatality-free shifts for the first time.

2011: Partial extraction and flaring of the methane gas commenced in May 2011.

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Beatrix Mineral Resource and Mineral Reserve Classification

Beatrix Life of Mine Mineral Resource classification

eXPLORATIONReSULTS

MINeRALReSeRVeS

MINeRALReSOURCeS

Reported as in situmineralisation estimates

Consideration of mining, metallurgical, economic, marketing, legal,environmental, social and governmental factors (the ‘modifying factors’)

65.9 Mt @ 5.3 g/t 11.3 Moz

39.5 Mt @ 3.9 g/t 5.0 Moz

16.0 Mt @ 3.0 g/t 1.5 Moz

23.4 Mt @ 4.6 g/t 3.4 Moz

2.8 Mt @ 6.4 g/t 0.6 Moz

42.6 Mt @ 4.5 g/t 6.1 Moz

20.4 Mt @ 6.9 g/t 4.6 Moz

Reported as mineableproduction estimates

Incr

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and

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MeASUReD PROVeD

PROBABLeINDICATeD

INFeRReD

Notes

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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.

Gold Fields: Beatrix Gold Mine – Technical Short Form Report 2011 1

“If we cannot mine safely, we will not mine”

Gold Fields Safety Value

Registered Office South Africa:150 Helen RoadSandownSandton, 2196 JohannesburgGautengPrivate Bag X30500Houghton, 2041 South Africa

Website: http://www.goldfields.co.za Telephone: +27 (0) 11 562 9700Facsimile: +27 (0) 11 562 9838