THE DISCOVERY AND GEOLOGY OF THE SALARES NORTE

EPITHERMAL GOLD-SILVER DEPOSIT, NORTHERN CHILE

AME ROUNDUP 2017, VANCOUVER

Nathan Brewer, Francisco Azevedo, Diego Huete Verdugo, Teresa Guevara, Fernando Rojas,
Juanita Rodriguez Melo, Christian Lagos, Claudio Cerda, Constanza Moreno, Regina
Baumgartner, Alex Trueman and Andrew Foley
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.

In particular, the forward looking statements in this document include among others those relating to the Damang Exploration Target Statement; the Far Southeast Exploration Target
Statement; commodity prices; demand for gold and other metals and minerals; interest rate expectations; exploration and production costs; levels of expected production; Gold Fields’
growth pipeline; levels and expected benefits of current and planned capital expenditures; future reserve, resource and other mineralisation levels; and the extent of cost efficiencies and
savings to be achieved. Such forward looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or
achievements of the company to be materially different from the future results, performance or achievements expressed or implied by such forward looking statements. Such risks,
uncertainties and other important factors include among others: economic, business and political conditions in South Africa, Ghana, Australia, Peru and elsewhere; the ability to achieve
anticipated efficiencies and other cost savings in connection with past and future acquisitions, exploration and development activities; decreases in the market price of gold and/or copper;
hazards associated with underground and surface gold mining; labour disruptions; availability terms and deployment of capital or credit; changes in government regulations, particularly
taxation and environmental regulations; and new legislation affecting mining and mineral rights; changes in exchange rates; currency devaluations; the availability and cost of raw and
finished materials; the cost of energy and water; inflation and other macro-economic factors, industrial action, temporary stoppages of mines for safety and unplanned maintenance
reasons; and the impact of the AIDS and other occupational health risks experienced by Gold Fields’ employees.

These forward looking statements speak only as of the date of this document. Gold Fields 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.

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 2
Gold Fields Ltd. - 8 operating mines in 4 countries

~2.1 Mozs Au-Eq produced in 2016 (Guidance)

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 3
Northern Chile / Southern Peru – Main gold belts
80º 70º 60º

#
Perú
#

Arequipa La Paz

Miocene
#
Bolívia
Paleocene – Oligocene
Arica

20º

El Peñon
Antofagasta

Guanaco

Salares Norte #

La Coipa
Marte-Lobo Maricunga
Caspiche Belt
Cerro Casale

Gold deposits ≥ 2 Moz Pascua Lama-Veladero

El Indio
El Indio-Tambo 30º
LaSerena Belt
Low sulphidation Alturas

High sulphidation
Argentina
Porphyry SANTIAGO

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 4
Salares Norte
Regional – Regional
Settings Context
& Deposits

Maricunga Gold Belt

Salares Norte

Pedernales Salt
• Total endowment + 90 Moz AuEq.
Lake

• All, except La Coipa, Esperanza and Salares

Esperanza Norte are porphyry-style Au (Cu) deposits; large
La Coipa
but low grade.
220 km

Cerro Maricunga • La Coipa in Care and Maintenance, 2013

~7.5 Moz AuEq production over 25 years.
Lobo Marte

Volcan • Maricunga (Refugio) suspended, 2016

~3 Mozs Au production over 20 years.
Maricunga (Refugio)
• Salares Norte is the first discovery in the
Caspiche northern part of the Maricunga gold belt.
Cerro Casale

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 5
Maricunga Belt: Porphyry-Epithermal Model

Steam heated alteration

Epithermal level
• La Coipa
• Esperanza
• Salares Norte

Porphyry level
• Cerro Casale
• Lobo-Marte
• Refugio
• Caspiche
• Volcan
• Cerro Maricunga

Modified from Sillitoe, R.H., 2010

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 6
Salares Norte – History of Discovery

• 2007-2008: Area selection & reconnaissance using La Coipa (Puren) model

• 2,500 km2 area selected; minor previous exploration; open ground
• Few roads, high elevation (+4,000m); Seasonal exploration (Oct-Apr)
• Focus on spectral anomalies within NW-SE structural corridor
• 4 of 10 targets selected for detailed follow-up work

Salares Norte

La Coipa

25 km
10 km

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 7
Salares Norte – History of Discovery

• 2008-2009: Initial RC drilling at Pircas, with positive results: 24m @ 4.1 g/t Au, in
structurally controlled breccia with oxidised vuggy quartz.

• 2009-2010: Follow-up drilling at Pircas, intersections on the order of 100m @

0.5 g/t Au, in vuggy quartz breccia with advanced argillic alteration.

• 2010-2011: First drill program at Salares Norte, March 2011: 980m RC / 4 holes;
Discovery hole: SNRC002, with 96m @ 1.54 g/t Au and 61 g/t Ag
Oxidized, good metallurgical response in preliminary leach tests.

• 2011-2013: Delineation drilling; Spectacular oxide intercept: 132m @ 53.2 g/t Au

and 59.3 g/t Ag (SNDD017). Maiden Resource Declaration (2013)

• 2014-2015: Positive Scoping Study; 71,374m completed in 231 holes;

Updated Mineral Resource Declaration (December 2015):

Tonnes (Mt) Au (g/t) Ag (g/t) Au (Moz) Ag (Moz) Comments

26.8 3.9 48.9 3.3 42.1 30% Indicated; 96% Oxide

• 2016: Further drilling and studies.

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 8
Salares Norte – District Geology

0 2 4
Km

Multiple volcanic events: 21.1 – 1.1 ma Source: SERNAGEOMIN1998- modified by Gold Fields
The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 9
Salares Norte – Alunite / Kaolinite Alteration, Aster Data

Rio Baker

Dacite Dome

Looking NW

Alunite and kaolinite in orange and yellow; steam-heated silica in pale blue;
based on Aster data.
The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 10
Salares Norte - Processed AS Ground Mag (100m)

Rio Baker

Dacite Dome

Looking NW

Low magnetic response (blue-purple colour) coincides with hydrothermal alteration

and trace element geochemical anomalies.
The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 11
Salares Norte – Discovery hole SNRC002

NE LOOKING SE SW

Andesite
Dacite Dome
Dome

Brecha
Principal

SNRC002

96m @ 1.54 g/t Au y 61 g/t Ag

• Hydrothermal breccia; advanced argillic alteration (silica-alunite-vuggy quartz)

• Anomalous trace elements in “soil”: As, Sb, Pb, Bi, Hg Anomalous
gold-in-soil
• Low gold (<24 ppb) except one sample with 628 ppb Au below breccia outcrop. sample site
• Margin of magnetic low; Coincident resistor identified by CSAMT.
• Model had been proved positive at Pircas.
• Two RC holes: 1st hole lost @ 85m; 2nd hole successful: 96m @ 1.5 g/t Au from 189m

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 12
Salares Norte – Breccia development
Crackle Jigsaw Mosaic Rubble

Brecciation Intensity

Polymictic breccia

“Wispy”
juvenile clast
Monomictic breccia

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 13
Salares Norte – Geological Map

Agua Amarga

Brecha Principal

Lithology Surface
RC - Alluvial/colluvial deposit
STH - Steam Heated Alteration
BXP - Polymictic Breccia (Diatreme)
BXPH - Hydrotermal Breccia (polymictic)
ICPA_D - Porphyritic Andesite Dome
BXMPA - Monomictic Andesite Breccia
ICPD_D - Porphyritic Dacite Dome
IFAB - Andesite Lava
VTBRB - Pyroclastic Tuff
VTL - Tuff

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 14
Salares Norte – 4000NW Section

SW Looking Northwest NE

60.95m @ 4.8 g/t

67.5m @ 10.4 g/t Au, 58.3 g/t Ag
Au, 43.9 g/t Ag
Monomictic Hydrothermal Breccia
Monomictic Breccia

4,370 Polymictic Hydrothermal Breccia

Polymictic Breccia
Porphyritic Andesite - Basal
120m @ 2.9 g/t Porphyritic Andesite - Dome
Au, 48.0 g/t Ag Porphyritic Dacite - Dome
Basaltic Andesite Lava

50.4m @ 1.6 g/t

Au, 81.3 g/t Ag
< 0.05
166m @ 10.6 g/t 0.05 – 0.25
Au, 101.0 g/t Ag 0.25 – 0.50
132m @ 53.2 g/t 0.50 – 1.00
Au, 59.3 g/t Ag 1.00 – 2.50
2.50 – 5.00
> 5.00

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 15
Salares Norte – Alteration model
Alteration facies typical of a high sulphidation epithermal system
LEGEND

N STH Steam Heated

UNA

SIC
Chalcedonic
silica
Agua
Massive and
Amarga SI
cream silica

SIC AAA Quartz-Alunite

STH Kaolinite -/-

AKD
Dickite
AAA
Brecha ARI Illite
UNA Principal SIC
AKD
ARS Illite/smectite

ARM
PO Potassic

PR Propylitic

ARM Smectite

UNA Unaltered rock

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 16
Salares Norte - Brecha Principal – Alteration Model
Section 4,000NW – Looking NW
SW NE
STH
STH
AAA Oxidation limit
SIC
SI
4,370
ARM AAA
AKD

ARS

ARI

Steam Quartz -
LEGEND STH AAA ARS Illite/smectite ARM Smectite (Argillic)
Heated Alunite
Chalcedonic Kaolinite -
SIC AKD PO Potassic Unaltered
silica Dickite UNA
Rock
SI Massive and ARI Illite PR Propylitic
cream silica

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 17
Salares Norte – Mineralisation examples in HQ drill core

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 18
Salares Norte – Gold Grade Shells

Agua Amarga

Grade Shells
Gold

≥ 1 g/t

Brecha Principal ≥ 5 g/t

500 m

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 19
Salares Norte – Gold Grade Shell

NW LONGITUDINAL SECTION LOOKING TO NE SE

Top of mineralisation ~4370

Top of mineralisation ~4310
1

Open

Agua Amarga - 700m

Gold (g/t)
0 - 0.05

0.05 - 0.25
Brecha Principal - 700m
0.25 - 0.5

0.5 - 1
1 – 2.5
2.5 – 5
5 – 2,850

The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 20
Salares Norte - Final remarks
Key factors which led to the discovery
● Understanding of Andean high sulphidation Au-Ag systems

● Effective Aster image processing & targeting

● Geological mapping and recognition of key alteration facies

● Geochemical sampling and pathfinder element anomalism

● Geophysical surveys (ground magnetics and CSAMT)

● Early validation of the exploration model at Pircas

● Persistence, systematics and perhaps some serendipity!

● Supportive management, consistent budgets and local autonomy.

Thank you!!
Gracias!
The Discovery and Geology of the Salares Norte Epithermal Gold-Silver Deposit, Northern Chile | January 2017 21