Gold Fields partners with Osisko to develop the Windfall project in Québec, Canada - Seite 3

The life extension upside, both within the Windfall mine footprint through resource conversion and expected onsite exploration success, together with significant regional exploration potential on the Exploration Properties is anticipated to provide a range of additional opportunities to Gold Fields’ pipeline. None of these upside opportunities form part of the Windfall Feasibility Study.

Gold Fields brings extensive experience in exploring, delineating and mining similar complex orebodies like the Windfall deposit, through two decades of effective and profitable mining at our Western Australian assets in particular. The Windfall opportunity presents geology and mining methods we know and understand well. Our operating and construction experience, particularly at Gruyere and Salares Norte, together with Osisko’s Québec exploration and construction credentials, forge a strong capability that will strive to unlock significant value through permitting, construction and operation from the Windfall project and the Exploration Properties.

Significantly, the Windfall Partnership is also consistent with Pillar 2 of Gold Fields strategy – to build on our leading commitment to ESG – and will contribute to achieving our 2030 ESG commitments. We are encouraged by Osisko’s strong ESG practices and relationships with their host communities. Osisko has demonstrated genuine commitment through its actions by, for example, the recent agreement with Miyuukaa Corp. a wholly-owned corporation of the Cree First Nation of Waswanipi with respect to the construction of proposed transmission facilities and the transmission of hydroelectric power to the Windfall Project through an 87km powerline. Construction of the powerline is already underway.

Asset description

Based on the Windfall Feasibility Study¹:

• Mineral Reserves of 3.2Moz (12.18Mt at 8.06g/t)
• Life-of-mine of 10 years
• Average production (100% basis) of 294,000 ounces (peak production of 374,000 ounces in year 2)
• AISC of US$758/oz (C$985/oz)
• Total capital expenditure of c.C$1.1bn which includes pre-construction spend and project capital to be funded 50/50
• First production is expected in 2025, subject to approval of permitting and final engineering design

Total investment into the Windfall Project by Osisko to date exceeds C$800m. Some of the underground infrastructure already in place includes 12.5km of underground development to 635 metres of vertical depth, four main ventilation raises and 40 drill bays. To date Osisko has completed three test stopes to confirm the ability to target ore in production quantities. In addition, extensive civil works have already been undertaken, including a lined waste pad and lined water treatment ponds, an accommodation complex, administrative offices, a communication tower and recreation area.