Near Mine Exploration – Maintaining the Base Load

Diggers and DealersKalgoorlie, Western Australia2nd August 2011

Justin OsborneGeneral Manager Near Mine Exploration – Gold Fields

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

Such forward looking statements involve known and unknown risks, uncertainties andother important factors that could cause the actual results, performance or achievementsof the company to be materially different from the future results, performance orachievements expressed or implied by such forward looking statements. Such risks,uncertainties and other important factors include among others: economic, business andpolitical conditions in South Africa, Ghana, Australia, Peru and elsewhere ; decreases inthe market price of gold and/or copper; hazards associated with underground and surfacegold mining; labour disruptions; availability terms and deployment of capital or credit,changes in government regulations, particularly environmental regulations; and newregulation affecting mining and mineral rights; changes in exchange rates; currencydevaluations; inflation and other macro-economic factors, industrial action, temporarystoppages of mines for safety and unplanned maintenance reasons; and the impact of theAIDS crisis in South Africa. These forward looking statements speak only as of the date ofthis document.

The company undertakes no obligation to update publicly or release any revisions to theseforward looking statements to reflect events or circumstances after the date of thisdocument or to reflect the occurrence of unanticipated events.

Forward Looking Statements

A Growth StoryGold Fields

Building a global company

3

South AfricaKDCBeatrix

MaliYanfolila

South Deep

Chucapaca

FinlandAPP

PhilippinesFSE

PeruCerro Corona

2001

AustraliaAgnewSt Ives

GhanaTarkwaDamang

Gold Fields

A deep value opportunity4

What Gold Fields Offers ….

77 million ounces of reservesQuality Reserve

3.6 million ounces annualisedSolid Production Base

US$154 million1 (Q1 2011)Robust Free Cash Flow

Targeting at least 5moz by 20152Strong Growth Pipeline

Net debt only 0.3 of EBITDA3Strong Balance Sheet

If we cannot mine safely, we will not mineCommitment to Safety

Full exposure to gold priceUnhedged

1. Cash flow before financing activities and dividend payments2. In production or development3. Calendar 2010

Free Cash Flow

Our Value Proposition

Unhedged

Grow cash flow margin per ounce

Grow ouncesper share Sustainability

SecureOur Future

GrowingGold Fields

Optimise OurAssets

5

Targeting 5 million ounces by 2015** In production or development

6

Growth Portfolio

Strong pipeline in support of growth strategy

Cerro Corona

South Deep

Chucapaca

Far Southeast Arctic Platinum

Yanfolila WoodjamTalas

Exploration projects in 13 CountriesExploration

Scoping

Pre-feasibility

Feasibility

Construction

Production Athena(St Ives)

Hamlet(St Ives)

Cerro Corona Oxides

Damang Super PitCerro Corona Resource

Conversion Project

Argo-Athena Camp (St Ives)Agnew Life Extension, Tarkwa

TOTOS

Regional Exploration at St Ives, Agnew, Damang and Cerro Corona

Greenfields Projects Near Mine Projects

Track record of delivery

Maintaining the Base LoadGrowing Gold Fields

Exploration underpins the growth strategyExploration and Growth

Near Mine Activities Focus on Prolonging our Assets

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Far South East

Athena - Hamlet

Greater Damang

Growth Projects – Our FutureChucapaca – Au-Ag-Cu - Peru

• Canahuire initial resource of 5.6 Moz eq

• Scoping study results positive

• Feasibility study fast-tracked

• 100,000m drilling for FS

Arctic Platinum – PGE-Au-Cu-Ni - Finland

• 12Moz 2PGE+Au Resource

• Platsol Pre-Feasibility ongoing

• Aim to start Feasibility study

Yanfolila - Gold - Mali

• Significant land package - 180 x 60km

• Drill intensive project

• Scoping study Q3 2011

A Diversified Advanced PortfolioAA DDiiversiiffiiedd A

5000m in the Andes

Sub-Saharan Mali

Arctic Finland

Growth Projects - Far Southeast

9

Drilling a world-class deposit

Well established mining district

Gold and Copper porphyry• Exceptional grades and scale • Significant exploration upside• Potential Giant deposit

Established infrastructure• Tarred access roads• Existing power lines and substations• Proximity to port facilities• Established camp, and facilities• Local landing strip• Tailings facilities with capacity

Established workforce • Local and supportive• Based on site• Established mining culture

Existing mineral tenure

Growth Projects - Far SoutheastA massive mineral system – 8 Drill Rigs working Underground

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Exceptional grades – mineralisation open in every direction

100 m

-200 m

FSEAu-Cu

Porphyry

Historic ProductionVictoria 18Mt @ 7.71g/t AuEnargite 40Mt @ 3.05g/t Au, 2.25% Cu

500m

1,60

0m

?

Some historic drill intersections:691m at 2.5g/t Au, 0.9% Cu907m at 1.5g/t Au, 0.5% Cu613m at 0.8g/t Au, 0.8% Cu460m at 3.2g/t Au, 1.0% Cu

Drilling level

Enargite

• Option signed Sept 2010

• Proof of Concept Drilling

• Initial 80000m planned

• Holes upto 2000m long

• Drilling to determine:• Geology• Grade confirmation• Scale

After Hedenquist et al. 2002

St Ives Mine – a Great Gold Camp

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St Ives District

• One of Australia’s premier gold camps

• 10.8 Moz produced to June 2011

• 5.8 Moz Resource Dec 2010

• Multi-million ounce exploration potential

Athena-Hamlet

• Greenfields discovery in 2006 - 2007

• Combined reserve of 1.1 Moz Dec 2010

• Reserve additions of 525 koz H2 2010

• Established an UG baseload supporting St Ives longer term future

-Hamlet

St Ives Gold Mine

A 20 Million Ounce Camp*

*Historic production plus Resource plus exploration potential endowment

Athena UndergroundDevelopment to Production

• Capital Project Completed

• Ore drives developed and full production stoping commenced

• Ore body consistent with expectation

Reserve Growth

• Dec 2010: 2.15Mt @ 6.3g/t, 437Koz

• Increase of 104koz - June to Dec ‘10

• Considerable exploration and extensional potential remains

Athena Undergground

R

•

•

•North end

9143 Jupiter OD

South end

$100M Project – Delivered on time and on budget

Underground drilling

St Ives Gold Mine

Reserve price Dec 2010 = A$1225; Resource price Dec 2010 = A$1350

Hamlet Underground

Resource Development

• Focused Resource conversion H2 2010

• Approx 25,000m drilled to convert resources

• FS completed and construction commenced

Reserve Growth

• Dec 2010 Reserve: 4.2Mt @ 4.89g/t, 659Koz

• Increase of 423koz from June 2010

• Open down plunge potential

• Synergies with Argo-Athena have resulted in formation of a single mining centre

Inferred to Development in 6 Months

June 2010 Reserve

December 2010 Reserve

St Ives Gold Mine

Reserve price Dec 2010 = A$1225; Resource price Dec 2010 = A$1350

Base load underground for a 10 year mine life

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St Ives Gold MineHamlet Underground

Project Progress

• Project commenced Dec 2010

• 1000m development to date

• Fresh Air Rise Complete

• Interim primary ventilation planned for commissioning end of July

• Finalising power and dewatering strategy

• Primary Vent rise civil commenced

Decline DesignMain access moved to south

Primary Vent Rise in construction

St Ives Gold Mine

Defined endowment >3.5Moz – with upside potential

The Argo-Athena-Hamlet Corridor

15Resource figures as of December 2010 ** Total Historic Production to June 2011Reserve price Dec 2010 = A$1225; Resource price Dec 2010 = A$1350

Pollux

Hero Zeus

Dido

Yorick

Macbeth

West East

A’A

F2010 DrillTargets

Undrilled Potential

Argo1.3 Moz produced**398Koz Resource

Athena777Koz Resource

Hamlet955koz Resource*

Apollo110 koz produced

Underground drillholes testing for repeats

The Greater Damang Project

Tarkwa and Damang• Largest gold producer in Ghana• Minority acquisition of IAMGold’s 18.9% stake

approved in the June 2011 quarter• US$667M for:

• Additional 181koz annual production• $540/oz current cash cost and $940/oz NCE• Additional 2.14Moz Reserve & 3.27Moz Resource

Greater Damang Upside• Major open pit expansion opportunity• Combined Huni-Damang-Juno complex• Targeting a substantial growth profile

Tarkwa Upside• TOTOS – mine optimisation project

Adding to the production base

A major expansion opportunity in Ghana

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Bamako

MALI

GHANA

Yanfolila Project

AccraTarkwa Gold MineDamang Gold Mine

163

163

196

Current Strike Length

JunoDamang Pit Cut BackHuni

v

Potential Strike Length

Potential Depth

Nth Sth

A major expansion opportunity in GhanaThe Greater Damang Project

Targeting a 4Moz Damang Reserve

• Conceptual modelling demonstrates a significant size potential

• Grade control model extrapolated to depth and evaluated for mining potential

• Evaluation demonstrated conceptual pit with >2Moz potential

• 25,000m Proof of Concept Drilling completed to test extrapolated continuity

• Pre Feasibility Study in progress targeting a major cut-back opportunity

• Mining, Environmental, Processing studies

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Current Depth

Reserve price Dec 2010 = US$1000; Resource price Dec 2010 = US$1100Dec 2010 total Damang Gold Mine Reserve = 2.08Moz

Greater Damang Project

Drilling in the Active Pit – A Logistical Challenge

A complex project in all ways

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D illi i th A ti Pit A L i ti l Ch ll

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Greater Damang ProjectThe Damang Deposit – Cross Section 25710mN

19Drilling results are not true width. These drill holes are drilled down the steep dipping stratigraphy to define overall continuity of mineralisation. Individual flat lodes are intersected and demonstrate higher grade mineralisation consistent with mined ores

Proof of Concept Drilling – Defining Continuity of Mineralisation

Initial conceptual pit shell

Greater Damang ProjectDetailed Cross Section 25710mN – High Grade Lodes

Initial concept pit shell

High grade lodes intersected to depth – consistent with mined lodesLodes are schematic and for illustrative purposes. Drill intersections represent mineralisation at an approximate 0.6g/t cut-offwith maximum 3m internal dilution, and based on geological interpretation

The Greater Damang Project

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current pit shelldrill hole intersectionsurface topographydrill hole trace

N 500m

Huni Damang Juno

current pit shellN 500m

72m at 0.8 g/t Au

72m at 3.9 g/t Au

180m at 2.4 g/t Au

181m at 0.5g/t Au

351m at 0.8g/t Au

240m at 1.0 g/t Au

349m at 1.1 g/t Au

300m at 1.3 g/t Au

402m at 1.1 g/t Au

168m at 0.6g/t Au

189m at 0.6 g/t Au

122m at 1.7 g/t Au

270m at 1.0 g/t Au605m at 0.6 g/t Au

425m at 0.7 g/t Au408m at 0.5 g/t Au

144m at 3.9 g/t Au

355m at 0.8 g/t Au

351m at 1.2 g/t Au

Continuity of the Damang Mineralised System

The Future of Damang

Pre Feasibility Study commenced May 2011

• 45,000m drilling to an 80 x 40m spacing

• To approx 350m below current pit

• 14,000m geotechnical drilling

• Pre Feasibility studies ongoing

• Targeting completion by Q1 2012

• Targeting a total Damang Reserve of 4Moz

Growing Gold Fields - Securing Our Future – Optimising Assets

The Greater Damang ProjectThe Future of Damanggg

• Growth portfolio developing rapidly

• Global diversification accelerating

• Growing free cash flow margin per ounce

• Growing ounces per share

• A leader in sustainability

A deep value opportunityConclusions

Towards being the global leader in sustainable gold mining

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A DEEP VALUE OPPORTUNITY

Investor Relations

Zakira AmraSenior Vice President Head of Investor Relations(office) +27 11 562 9775(mobile) +27 79 694 0267zakira.amra@goldfields.co.za

Nikki Catrakilis-WagnerInvestor Relations Manager(office) +27 11 562 9706(mobile) +27 83 309 6720nikki.catrakilis-wagner@goldfields.co.za