SIBANYE GOLD LIMITED - Sibanye Released as Guarantor of Gold Fields Bond

Sibanye Released as Guarantor of Gold Fields Bond

Sibanye Gold Limited
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye Gold”, “Sibanye” or “the Company”)

Sibanye Released as Guarantor of Gold Fields Bond
Westonaria, 29 April 2015: Sibanye (JSE: SGL & NYSE: SBGL) is
pleased to inform shareholders that the Group has been released
as guarantor by the noteholders of Gold Fields Limited’s (“Gold
Fields”) US$1 billion bond issued on 30 September 2010     by a
subsidiary of Gold Fields, Gold Fields Orogen Holding (BVI)
Limited (the “Bond”).

Sibanye remained as a guarantor of the Bond after its unbundling
by Gold Fields in February 2013. This restricted Sibanye‘s debt
capacity, as lenders considered the contingent liability which
arose from the guarantee as debt.

During March 2015 Gold Fields approached the Bond noteholders
through a consent solicitation process to release Sibanye of its
obligations as a guarantor under the Bond. On 22 April 2015 the
noteholders approved the various resolutions to release Sibanye
as a guarantor. The release became effective on 24 April 2015
when all the conditions to the extraordinary resolution were met.

“The R12 billion guarantee has always been a concern to our
lenders, resulting in complex funding arrangements and the
imposition of certain limitations on our borrowing capacity. The
removal of the guarantee enhances balance sheet flexibility and
increases Sibanye’s capacity for debt, should it require it. This
is positive for our credit and equity profile and completes the
successful unbundling of Sibanye by Gold Fields” said Charl
Keyter, Chief Financial Officer of Sibanye.

ENDS


Contact

James Wellsted
SVP Investor Relations
Sibanye Gold Limited
+27 83 453 4014
james.wellsted@sibanyegold.co.za

Sponsor: J.P. Morgan Equities South Africa Proprietary Ltd

FORWARD 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.

These forward-looking statements, including, among others, those
relating to Sibanye’s future business prospects, revenues and
income, wherever they may occur in this document and the exhibits
to this document, are necessarily estimates reflecting the best
judgment of the senior management of Sibanye and involve a number
of known and unknown risks and uncertainties that could cause
actual results, performance or achievements of the Group to
differ materially from those suggested by the forward-looking
statements. As a consequence, these forward looking statements
should be considered in light of various important factors,
including those set forth in this document. Important factors
that could cause the actual results to    differ materially from
estimates or projections contained in the forward looking
statements include without limitation: economic, business,
political and social conditions in South Africa and elsewhere;
changes in assumptions underlying Sibanye’s estimation of its
current mineral reserves and resources; the ability to achieve
anticipated efficiencies and other cost savings in connection
with past and future acquisitions as well as existing operations;
the success of exploration and development activities; changes in
the market price of gold and/or uranium; the occurrence of
hazards associated with underground and surface gold and uranium
mining; the occurrence of labour disruptions and industrial
action; the availability, terms and deployment of capital or
credit;    changes   in  government   regulations,   particularly
environmental regulations and new legislation affecting water,
mining and mineral rights; the outcome and consequence of any
potential or pending litigation or regulatory proceedings or
other environmental, health and safety issues; power disruptions
and cost increases; fluctuations in exchange rates, currency
devaluations, inflation and other macro-economic factors; the
occurrence of temporary stoppages of mines for safety incidents
and unplanned maintenance reasons; Sibanye’s ability to hire and
retain senior management or sufficient technically skilled
employees, as well as its ability to attract sufficient
historically disadvantaged South Africans representation in its
management    positions;    failure   of  Sibanye’s   information
technology and communications systems; the adequacy of Sibanye’s
insurance coverage; any social unrest, sickness or natural or
man-made disaster at informal settlements in the vicinity of some
of Sibanye’s operations; and the impact of HIV, tuberculosis and
other contagious diseases. These forward looking statements speak
only as of the date of this document.

The Group undertakes no obligation to update publicly or release
any revisions to these forward looking statements to reflect
events or circumstances after the date of this document or to
reflect the occurrence of unanticipated events.

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