🕐05.03.10 - 01:17 Uhr

LGL enters Ballarat sale agreement



GPO Box 905
Lihir Gold Limited Phone: +617 3318 3300 Brisbane QLD 4001 Australia
Incorporated in Papua New Guinea Fax: +617 3318 9203 Level 9, 500 Queen Street
ARBN 069 803 998 Website: www.

LGLGold.com Brisbane QLD 4000 Australia
5 March 2010
LGL enters Ballarat sale agreement
Lihir Gold Ltd (LGL) has entered into an agreement with Castlemaine Goldfields Limited for the sale of the
Ballarat project in Victoria.
LGL will receive A$4.5 million in cash plus an additional 2.5% royalty interest* in future production,
capped at A$50 million.

The sale is subject to certain conditions including Castlemaine shareholders
approving the issue of new equity to raise a minimum of A$20 million.
Castlemaine has indicated it intends to take the Ballarat operation forward as an exploration project, and
will therefore cease mining and processing for the immediate future.
In preparation for the transition to new ownership, the operation will be wound down and placed on care
and maintenance from today.

Redundancies will be offered to affected employees.

LGL will provide full
entitlements and support services to employees and their families, including outplacement assistance.
* Calculated on Net Smelter Return
For further information please contact:
Media: Josie Brophy
Corporate Communications Manager
07 3318 3317 or 0448 177 502
Investors: Joel Forwood
Manager Investor Relations
07 3318 3331 or 0438 576 879




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