Notification in terms of Section 45(5) of the Companies Act 71 of 2008 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”, “the Company” and/or “the Group”) Notification in terms of Section 45(5) of the Companies Act 71 of 2008 Westonaria, 27 June 2017. Following the completion of the acquisition of Stillwater Mining Company (incorporated in the State of Delaware, United States)("Stillwater"), the Company is in the process of refinancing the bridge loan facility which was utilised by the Company and its subsidiaries to fund the acquisition of Stillwater (the “Acquisition Debt”), through various means including the recent rights offering by the Company which closed on 4 May 2017 (the “Rights Offer”), the proceeds of which are being applied to partially settle the Acquisition Debt. Notice is hereby given that, in terms of the provisions of Section 45(5) of the Companies Act 71 of 2008 (the “Companies Act”), and pursuant to the special resolution passed at the general meeting of the Company held on 23 May 2017, the board of directors of the Company (the “Board”) has adopted a resolution (the “Resolution”) to provide financial assistance to an indirect wholly owned subsidiary of the Company, Thor US Holdco Inc. (“US HoldCo”), by advancing to US HoldCo an amount of US$750 million (the “Loan”) for the purposes of capitalising its wholly owned subsidiary, Stillwater. This application by the Company of a portion of the Rights Offer proceeds will enable Stillwater to settle a portion of the Acquisition Debt incurred by it directly. The Loan constitutes direct and/or indirect financial assistance in terms of the provisions of Section 45(2) of the Companies Act. Having considered all reasonable financial circumstances of the Company in terms of and pursuant to the provisions of Section 45 as read with Section 4 of the Act, the Board satisfied itself that: • immediately after providing the financial assistance referred to above, the Company would satisfy the solvency and liquidity test contemplated in Section 4 of the Act; • all relevant conditions and restrictions relating to the granting of such financial assistance by the Company contained in the Company's memorandum of incorporation are satisfied; and • the terms and conditions on which such financial assistance is to be given are fair and reasonable to the Company. 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 Date: 27/06/2017 03:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.