Court Schedules Hearing for January 17 to Consider Propriety of Gold Fields' Purchases of Bolivar Gold Shares

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
BTG	LSE:BGC	London	Ordinary Share	GB0001001592	ORD 10P

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BTG

LSE:BGC

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GB0001001592

ORD 10P

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Court Schedules Hearing for January 17 to Consider Propriety of Gold Fields' Purchases of Bolivar Gold Shares

12/01/2006 2:47am

PR Newswire (US)

BTG (LSE:BGC)
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CUPERTINO, Calif., Jan. 11 /PRNewswire-FirstCall/ -- Scion Capital, LLC announced today that the Ontario Superior Court has scheduled hearings on the application filed by Scion Capital requesting a ruling that Gold Fields Limited (NYSE:GFI) has violated Ontario securities laws in its recent purchases of 5,186,000 shares of Bolivar Gold Corp. (TSX: BGC). The application seeks an order, among other things, prohibiting Gold Fields from voting these improperly acquired shares at the January 12 meeting of Bolivar securityholders to consider the proposed acquisition of Bolivar by Gold Fields. "We are pleased that the court has ordered that, if the 5,186,000 shares acquired by Gold Fields are material to tomorrow's vote, the transaction may not proceed until the court has considered whether Gold Fields violated the take-over bid rules," said Michael Burry, Scion Capital's President. The court scheduled the hearing for a date after tomorrow's vote without prejudice to Scion. Therefore, although the matter will be heard after the vote, the court could order to exclude Gold Fields' votes and block the transaction. Further, Scion Capital sought and obtained from the Supreme Court of Yukon Territory an extension, until 4:00 p.m. Tuesday, January 17th, for the delivery of materials challenging the fairness of the transaction. Meanwhile, Scion has requested that the independent committee of Bolivar's Board cause the company to postpone the meeting so that shareholders can have more than the 26 hours they have been given to consider the adequacy of Gold Fields' 6.7% increase to its offer. Scion Capital's firm position is that the revised offer remains undervalued and wholly inadequate. About Scion Capital Based in Cupertino, California, Scion Capital, LLC is an investment advisory firm founded in 2000, with current assets under management in excess of US$750 million. Scion Capital seeks to make long-term investments in companies it identifies as having value that has not yet been recognized by the market. It employs a value-oriented investment strategy across many public and private industries, markets and investment opportunities. Scion Capital is Bolivar's largest shareholder with holdings of 21,676,400 shares representing approximately 19.14% of Bolivar's outstanding common shares. Scion Capital's Dissident Circular is available at http://www.sedar.com/ and at http://www.scioncapital.com/. DATASOURCE: Scion Capital, LLC CONTACT: investors, Steven A. Druskin, Chief Legal Officer of Scion Capital, LLC, +1-408-441-8400; or media, John Lute of Lute & Company, +1-416- 929-5883, for Scion Capital, LLC; or Mackenzie Partners Inc., 1-800-322-2885, +1-212-929-5500, for Scion Capital, LLC Web site: http://www.sedar.com/ Web site: http://www.scioncapital.com/

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