VANCOUVER, BRITISH COLUMBIA — (Marketwire) — 10/22/12 — Consolidated Woodjam Copper Corp. (TSX VENTURE: WCC) („Woodjam Copper“) is pleased to report that Gold Fields Horsefly Exploration Corporation („Gold Fields“) a subsidiary of Gold Fields Limited (NYSE: GFI)(NASDAQ: GFI)(JSE: GFI)(DUBAI: GFI), has released assay data for 20 drill holes (totaling 7,820.67 m) completed in 2012 to date on the Woodjam South Property (location maps for the drilling can be viewed at ). The Property is located approximately 45 km east of the City of Williams Lake, BC.
On the Woodjam South Property drilling has been directed at expanding the Southeast Zone where mineralization remains open in several directions. The Southeast Zone has an initial pit constrained NI 43-101 compliant inferred resource of 146.5 million tonnes grading 0.33% copper (with accessory gold) which was announced in a News Release dated March 1, 2012. A table showing results for all the holes completed in 2012 on the Southeast Zone is attached. Highlights of the drilling program are:
The company is very pleased with the results to date on the Southeast Zone and this phase of drilling continued to indicate the strong potential for growth of the resource. Gold Fields is continuing with three drills on the Woodjam North Property and is focusing its effort on the newly discovered Three Firs Zone as well as the Deerhorn Zone (see News Release dated August 7, 2012) where the mineralization carries a high gold to copper ratio. It is expected that this phase of drilling will continue through November. A total of approximately 35,000 m of drilling is expected to be completed on the Woodjam North and Woodjam South Properties during 2012.
Gold Fields has vested a 51% interest in both the Woodjam North and South properties. Gold Fields gave notice to Woodjam Copper in January 2012 that it will exercise its right to earn a further 19% interest in each of the Woodjam North and Woodjam South Properties. To earn this additional interest Gold Fields is required to spend Cdn$12 million and US$8 million over the next four years on the Woodjam North and Woodjam South properties respectively. In addition, Gold Fields is required to complete a comprehensive feasibility study on the Woodjam South Property.
Core samples were analyzed by ALS Laboratory Group, a certified facility in North Vancouver, BC. Glen L. Garratt, P.Geo., a qualified person for the purposes of National Instrument 43-101, has read and taken responsibility for this news release.
Glen L. Garratt, P.Geo., Director
Consolidated Woodjam Copper Corp.
About Consolidated Woodjam Copper Corporation
Consolidated Woodjam Copper Corp. (TSX VENTURE: WCC) („Woodjam Copper“) was called for trading on the TSX-V on November 25, 2011. Woodjam Copper was created when Fjordland Exploration Inc. (TSX VENTURE: FEX) („Fjordland“) and Cariboo Rose Resources Ltd. (TSX VENTURE: CRB) („Cariboo Rose“), 60%-40% partners in the Woodjam Joint Venture („WJV“), jointly put their interests in the WJV into the new company. Shareholders of Fjordland and Cariboo Rose received shares in Woodjam Copper. Woodjam Copper currently owns a 49% interest in the Woodjam North and Woodjam South properties which are under option to Gold Fields who own a 51% interest and may earn a further 19% to total a 70% interest in the properties. In 2012, Woodjam Copper published an initial Southeast Zone NI 43-101 compliant inferred resource of 146.5 million tons grading 0.33% copper (pit constrained).
About Gold Fields Limited
Gold Fields is one of the world-s largest unhedged producers of gold with attributable, annual production of 3.5 million ounces per annum from eight operating mines in South Africa, Ghana, Australia and Peru. Gold Fields also has an extensive growth pipeline with both greenfield and near-mine exploration projects at various stages of development. Gold Fields has total attributable Mineral Reserves of 80.6 million ounces and Mineral Resources of 217 million ounces. For more information visit the company-s website at .
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts: Consolidated Woodjam Copper Corp. Paul Way Investor Relations 604-681-7913 or Toll Free: 1-888-656-6611 604-681-9855 (FAX)
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