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MARKET RELEASE
Significant milestones reached in terms of the Altar transaction
Johannesburg, 25 September 2018: Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) is pleased to
advise that significant milestones have been reached with the Arrangement Agreement to unlock
value at its Altar copper-gold project with Regulus Resources Inc. (Regulus) and a newly formed
subsidiary of Regulus, Aldebaran Resources Inc. (Aldebaran), to create a strategic partnership, as per
the announcement on 29 June 2018.
The milestones include 99.8% of votes cast by Regulus shareholders being in favour of the Arrangement
at its annual and special meeting held on 21 September 2018, as well as obtaining the requisite final
court order from the Alberta Court of Queen's Bench. The closure of the Arrangement is subject to the
satisfaction of customary closing conditions, including receipt from the TSX Venture Exchange (TSX-V)
of conditional listing approval for the Aldebaran shares.
As previously announced, the Arrangement sees Sibanye-Stillwater benefit from upfront proceeds
(US$15 million), while retaining a direct interest in the project of either 40% or 20% (should Aldebaran
exercise its additional earn in option) as well as an indirect exposure though its 19.9% shareholding in
Aldebaran. Sibanye-Stillwater will also gain indirect exposure to the Argentine exploration assets that
Aldebaran will be acquiring from Regulus as part of the Arrangement, including the Rio Grande and
Aguas Calientes projects, amongst others.
Closure and implementation of the transaction is dependent on the successful listing of Aldebaran
Resources on the TSXV which, subject to regulatory approval by the TSXV, is anticipated to occur during
the fourth quarter of 2018.
For more information regarding the transaction, please refer
https://www.sibanyestillwater.com/investors/transactions/altar and to www.regulusresources.com for
the related Regulus announcements.
Sibanye-Stillwater CEO, Neal Froneman commented: “We are pleased that these significant
milestones has been achieved and recognize that it is an important step towards closing the
transaction. The support of the Regulus shareholders demonstrates the value creation that is expected
to be realised through the implementation of this transaction, unlocking the upside potential of the
Altar Project by providing it with the focus from the experienced Aldebaran team.”
Contacts:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
Sibanye Gold Limited
Trading as Sibanye-Stillwater
Reg. 2002/031431/06
Incorporated in the Republic of South Africa
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye-Stillwater”,”the Company” and/or “the Group”)
Registered Address:
Constantia Office Park
Bridgeview House • Building 11 • Ground Floor
Cnr 14th Avenue & Hendrik Potgieter Road
Weltevreden Park • 1709
Postal Address:
Private Bag X5 • Westonaria • 1780
Tel +27 11 278 9600 • Fax +27 11 278 9863