JOINT
NEWS RELEASE
March 2, 2005
Comaplex Minerals Corp. and Gold Fields Announce a Further Equity Investment
(Cdn$8.5 million) and Technical Assistance Cooperation by Gold Fields
Comaplex Minerals Corp. ("Comaplex") (www.comaplex.com) (TSX:CMF) and Gold
Fields Limited ("Gold Fields") (JSE and NYSE: "GFI") are pleased to announce that Comaplex has entered into a subscription agreement (the "Subscription Agreement") with Orogen Holdings (BVI) Limited ("Orogen"), an indirect wholly-owned subsidiary of Gold Fields, whereby Orogen will purchase, on a non-brokered private placement basis, 2,428,571 common shares of Comaplex at a price of Cdn. $3.50 per share for about aggregate gross proceeds to Comaplex of Cdn. $8.5 million. This transaction is expected to close on March 4, 2005 and is subject to receipt of approval by the Toronto Stock Exchange and the South African Reserve Bank. When combined with the shares Orogen already owns in Comaplex, Orogen will own a total of 7,628,571 Comaplex shares, representing a total of 19.8 % of the issued and outstanding shares of Comaplex after giving effect to this transaction.
Gold Fields has advised Comaplex that all of the Comaplex common shares to be held by Orogen following completion are for investment purposes and that Orogen may increase or decrease its holdings at prices which it determines to be attractive at any time pursuant to market transactions or negotiated transactions.
The proceeds of the placement will be directed to the further exploration and development of the Meliadine Properties, located in the Nunavut Territory in Canada, managed by Comaplex. In connection with the closing of the equity investment under the Subscription Agreement, Comaplex and Gold Fields intend to enter into a Technical Assistance Agreement ("TA Agreement") under which Gold Fields will provide technical assistance in the planning and execution of the 2005 advanced exploration program on the Meliadine West and other properties, and, potentially additional programs thereafter. Under the terms of the TA Agreement, Gold Fields will also provide expertise on drilling locations, metallurgical testing, environmental and regulatory studies, and other information necessary to proceed towards a feasibility study.