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06.09.2019

Director Dealings

Johannesburg, 6 September 2019: Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL - https://www.commodity-tv.net/c/search_adv/?v=299128 ) in compliance with paragraphs 3.63 to 3.74 of the Listings Requirements of the JSE Limited ("the Listings Requirements") hereby advises shareholders that Messrs NJ Froneman and C Keyter Chief Executive Director and Chief Financial Officer of Sibanye Gold Limited have retained and/ or sold Bonus Shares which were granted on 1 March 2018 (“the Grant Date”) in terms of The Sibanye Gold Limited 2017 Share Plan. Bonus Shares awarded to Messrs Froneman and Keyter were sold in order to settle the associated tax liability.

Name	NJ Froneman
Position	Chief Executive Officer
Company	Sibanye Gold Limited
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares
Transaction Date	2 September 2019
Number of Shares	147 104
Class of Security	Ordinary shares
Market Price per share:	R20.90
Total Value	R3 074 473.60
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	NJ Froneman
Position	Chief Executive Officer
Company	Sibanye Gold Limited
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of bonus shares to cover associated tax liability
Transaction Date	2 September 2019
Number of Shares	127 856
Class of Security	Ordinary shares
Market Price per share:	R20.90
Total Value	R2 672 190.40
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	NJ Froneman
Position	Chief Executive Officer
Company	Sibanye Gold Limited
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of capitalisation bonus shares in respect of previously awarded bonus shares on 1 March 2018
Transaction Date	2 September 2019
Number of Shares	5 885
Class of Security	Ordinary shares
Market Price per share:	R20.90
Total Value	R122 996.50
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	NJ Froneman
Position	Chief Executive Officer
Company	Sibanye Gold Limited
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of capitalisation bonus shares to cover associated tax liability
Transaction Date	2 September 2019
Number of Shares	5 114
Class of Security	Ordinary shares
Market Price per share:	R20.75
Total Value	R106 882.60
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	C Keyter
Position	Chief Financial Officer
Company	Sibanye Gold Limited
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares
Transaction Date	2 September 2019
Number of Shares	72 078
Class of Security	Ordinary shares
Market Price per share:	R20.90
Total Value	R1 506 430.20
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	C Keyter
Position	Chief Financial Officer
Company	Sibanye Gold Limited
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of bonus shares to cover associated tax liability
Transaction Date	2 September 2019
Number of Shares	62 647
Class of Security	Ordinary shares
Market Price per share:	R20.90
Total Value	R1 309 322.30
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	C Keyter
Position	Chief Financial Officer
Company	Sibanye Gold Limited
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of capitalisation bonus shares in respect of previously awarded bonus shares on 1 March 2018
Transaction Date	2 September 2019
Number of Shares	2 884
Class of Security	Ordinary shares
Market Price per share:	R20.90
Total Value	R60 275.60
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	C Keyter
Position	Chief Financial Officer
Company	Sibanye Gold Limited
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of capitalisation bonus shares to cover associated tax liability
Transaction Date	2 September 2019
Number of Shares	2 505
Class of Security	Ordinary shares
Market Price per share:	R20.90
Total Value	R52 354.50
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

In terms of paragraph 3.66 of the Listings Requirements, the necessary clearance to deal in the above securities has been obtained.

Dealing in securities by directors of major subsidiaries

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements, shareholders are further advised that directors of major subsidiaries of Sibanye-Stillwater being Mr Chris Bateman and Dr Richard Stewart, Executive Directors of Stillwater Mining Company and Mr Justin Froneman, Executive Director of SWC Trading INC., have retained and/ or sold Bonus and Performance Shares which were granted on 1 March 2018 (“the Grant Date”) in terms of The Sibanye Gold Limited 2017 Share Plan.

Name	CM Bateman
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of bonus shares awarded 1 March 2018
Transaction Date	3 September 2019
Number of ADRs	32 844
Class of Security	ADR
Market Price per share:	US$5.4899
Total Value	US$180 310.27
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	CM Bateman
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of capitalisation bonus shares awarded on 1 March 2018
Transaction Date	3 September 2019
Number of ADRs	1 314
Class of Security	ADR
Market Price per share:	US$5.4899
Total Value	US$7 213.72
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of bonus shares awarded 1 March 2018
Transaction Date	2 September 2019
Number of shares	82 596
Class of Security	Ordinary shares
Market Price per share:	R20.90
Total Value	R1 726 256.40
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of capitalisation bonus shares awarded 1 March 2018
Transaction Date	2 September 2019
Number of shares	3 304
Class of Security	Ordinary shares
Market Price per share:	R20.90
Total Value	R69 053.60
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	J Froneman
Position	Executive Director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares awarded 1 March 2018
Transaction Date	3 September 2019
Number of ADRs	18 711
Class of Security	ADR
Market Price per share:	US$ 5.64
Total Value	US$ 105 530.04
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	J Froneman
Position	Executive Director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of capitalisation bonus shares in respect of previously awarded bonus shares on 1 March 2018
Transaction Date	3 September 2019
Number of ADRs	748
Class of Security	ADR
Market Price per share:	US$ 5.64
Total Value	US$ 4 218.72
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

In terms of paragraph 3.66 of the Listings Requirements, the necessary clearance to deal in the above securities has been obtained.

Historical Dealings in securities by directors of major subsidiaries

In compliance with paragraphs 3.63 to 3.66 of the Listings Requirements, shareholders are further advised of a delayed announcement of dealings in securities by directors of major subsidiaries in previous periods.

The Company recently reviewed its securities trading policy and communicated the reporting obligations to the affected personnel. In the review, it was determined that two of the US registered subsidiaries, being Stillwater Mining Company and SWC Trading INC., had become “major subsidiaries” (as defined by the Listings requirements) from 1 July 2017 and 1 July 2018 respectively based on financial results for the periods ending 30 June 2017 and 30 June 2018. In line with the procedures at that time the Company had not provided clearance to trade and had omitted to disclose dealings by directors of these major subsidiaries since these dates. All of these dealings were undertaken during a non-prohibited period in line with the Company’s procedures. The Company has, in addition, disclosed in its Integrated Annual Report and Form 20-F filings the securities held by each prescribed officer of the Company.

Name	CM Bateman
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market purchase of shares
Transaction Date	28 February 2018
Number of ADRs	12 722
Class of Security	ADR
Market Price per share:	US$3.91
Total Value	US$49 743.02

Name	CM Bateman
Position	Executive Director
Company	Stillwater Mining Company
Extent of interest	Direct and Beneficial
Nature of transaction	Issue of capitalisation shares
Number of shares held at the time	12,722
Number of capitalisation shares awarded	508
Transaction Date	20 April 2018
Class of Security	ADR
Total number of shares after capitalisation issue	13,230

Name	CM Bateman
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares in the form of American Depository Receipts (ADRs) awarded on 1 March 2018
Transaction Date	4 December 2018
Number of ADRs	19 517
Class of Security	ADR
Market Price per share:	US$ 2.44
Total Value	US$ 47 621.48
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	CM Bateman
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of bonus shares in the form of ADRs awarded 1 March 2018 to cover associated tax liability
Transaction Date	4 December 2018
Number of ADRs	14 640
Class of Security	ADR
Market Price per share:	US$ 2.44
Total Value	US$ 35 721.60
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares awarded 1 March 2016
Transaction Date	6 September 2017
Number of shares	9 871
Class of Security	Ordinary shares
Market Price per share:	R20.66
Total Value	R203 934.86
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares awarded 1 March 2017
Transaction Date	27 December 2017
Number of shares	9 015
Class of Security	Ordinary shares
Market Price per share:	R15.07
Total Value	R135 856.05
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of bonus shares awarded 1 March 2017 to cover associated tax liability
Transaction Date	27 December 2017
Number of shares	7 717
Class of Security	Ordinary shares
Market Price per share:	R15.07
Total Value	R 116 295.19
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of performance shares awarded 2 March 2015
Transaction Date	22 March 2018
Number of shares	84 441
Class of Security	Ordinary shares
Market Price per share:	R11.65
Total Value	R983 737.65
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of performance shares awarded 2 March 2015 to cover associated tax liability
Transaction Date	22 March 2018
Number of shares	71 805
Class of Security	Ordinary shares
Market Price per share:	R11.65
Total Value	R836 528.25
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares awarded 1 March 2017
Transaction Date	3 September 2018
Number of shares	9 311
Class of Security	Ordinary shares
Market Price per share:	R8.85
Total Value	R82 402.35
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of bonus shares awarded 1 March 2017 to cover associated tax liability
Transaction Date	3 September 2018
Number of shares	8 091
Class of Security	Ordinary shares
Market Price per share:	R8.85
Total Value	R71 605.35
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of performance shares awarded 3 November 2015
Transaction Date	5 November 2018
Number of shares	162 101
Class of Security	Ordinary shares
Market Price per share:	R9.26
Total Value	R1 501 055.26
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of performance shares 3 November 2015 to cover associated tax liability
Transaction Date	5 November 2018
Number of shares	140 888
Class of Security	Ordinary shares
Market Price per share:	R9.26
Total Value	R1 304 622.88
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares awarded 1 March 2018
Transaction Date	3 December 2018
Number of shares	45 957
Class of Security	Ordinary shares
Market Price per share:	R8.73
Total Value	R401 204.61
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of performance shares granted on 1 March 2018 to cover associated tax liability
Transaction Date	3 December 2018
Number of shares	39 943
Class of Security	Ordinary shares
Market Price per share:	R8.73
Total Value	R348 702.39
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of performance shares awarded 1 March 2016
Transaction Date	6 June 2019
Number of shares	12 046
Class of Security	Ordinary shares
Market Price per share:	R14.70
Total Value	R177 076.20
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Name	RA Stewart
Position	Executive Director
Company	Stillwater Mining Company
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of performance shares granted on 1 March 2016 to cover associated tax liability
Transaction Date	6 June 2019
Number of shares	10 415
Class of Security	Ordinary shares
Market Price per share:	R14.70
Total Value	R153 100.50
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Name	J Froneman
Position	Executive Director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares awarded on 1 March 2017
Transaction Date	3 September 2018
Number of shares	4 402
Class of Security	Ordinary shares
Market Price per share:	R8.85
Total Value	R38 957.70
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	J Froneman
Position	Executive Director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of bonus shares awarded 1 March 2017 to cover associated tax liability
Transaction Date	3 September 2018
Number of shares	3 824
Class of Security	Ordinary shares
Market Price per share:	R8.85
Total Value	R33 842.40
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	J Froneman
Position	Executive Director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of ADR awarded on 1 March 2017
Transaction Date	11 September 2018
Number of ADRs	1 812
Class of Security	ADR
Market Price per share:	US$2.43
Total Value	US$4 403.16
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	J Froneman
Position	Executive Director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of bonus shares awarded on 1 March 2017 to cover associated tax liability
Transaction Date	11 September 2018
Number of ADRs	758
Class of Security	ADR
Market Price per share:	US$2.43
Total Value	US$1 841.94
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	J Froneman
Position	Executive director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares awarded on 1 December 2015
Transaction Date	3 December 2018
Number of shares	16 902
Class of Security	Ordinary shares
Market Price per share:	R8.73
Total Value	R147 554.46
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Name	J Froneman
Position	Executive director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	On market sale of performance shares granted on 1 December 2015 to cover associated tax liability
Transaction Date	3 December 2018
Number of shares	14 686
Class of Security	Ordinary shares
Market Price per share:	R8.73
Total Value	R128 208.78
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Name	J Froneman
Position	Executive director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares awarded on 1 December 2015
Transaction Date	4 December 2018
Number of ADRs	4 462
Class of Security	ADR
Market Price per share:	US$2.44
Total Value	US$10 887.28
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Name	J Froneman
Position	Executive director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of bonus shares awarded on 1 March 2018
Transaction Date	4 December 2018
Number of ADRs	19 458
Class of Security	ADR
Market Price per share:	US$2.44
Total Value	US$ 47 477.52
Vesting Period	Vest in equal parts on 9 months and 18 months of the Grant Date

Name	J Froneman
Position	Executive Director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of performance shares awarded 1 March 2016
Transaction Date	24 May 2019
Number of shares	5 776
Class of Security	Ordinary shares
Market Price per share:	R11.6275
Total Value	R67 140.44
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Name	J Froneman
Position	Executive Director
Company	SWC Trading INC.
Nature of interest	Direct and Beneficial
Nature of transaction	Retention of performance shares awarded 1 March 2016
Transaction Date	27 May 2019
Number of shares	1 155
Class of Security	ADR
Market Price per share:	US$3.25
Total Value	US$3 753.75
Vesting Period	The Performance Shares vest on the third anniversary of the Grant Date.

Ends.

Investor relations 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

In Europe:

Swiss Resource Capital AG

Jochen Staiger

info@resource-capital.ch

www.resource-capital.ch

FORWARD LOOKING STATEMENTS

The information in this announcement may contain forward-looking statements within the meaning of the “safe harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, among others, those relating to Sibanye Gold Limited’s (trading as Sibanye-Stillwater) (“Sibanye-Stillwater” or the “Group”) financial positions, business strategies, plans and objectives of management for future operations, are necessarily estimates reflecting the best judgment of the senior management and directors of Sibanye-Stillwater.

All statements other than statements of historical facts included in this announcement may be forward-looking statements. Forward-looking statements also often use words such as “will”, “forecast”, “potential”, “estimate”, “expect” and words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth in this disclaimer and in the Group’s Annual Integrated Report and Annual Financial Report, published on 29 March 2019, and the Group’s Annual Report on Form 20-F filed by Sibanye-Stillwater with the Securities and Exchange Commission on 5 April 2019 (SEC File no. 001-35785). Readers are cautioned not to place undue reliance on such statements.

The important factors that could cause Sibanye-Stillwater’s actual results, performance or achievements to differ materially from those in the forward-looking statements include, among others, our future business prospects; financial positions; debt position and our ability to reduce debt leverage; business, political and social conditions in the United Kingdom, South Africa, Zimbabwe and elsewhere; plans and objectives of management for future operations; our ability to obtain the benefits of any streaming arrangements or pipeline financing; our ability to service our bond Instruments (High Yield Bonds and Convertible Bonds); changes in assumptions underlying Sibanye-Stillwater’s estimation of their current mineral reserves and resources; the ability to achieve anticipated efficiencies and other cost savings in connection with past, ongoing and future acquisitions, as well as at existing operations; our ability to achieve steady state production at the Blitz project; the success of Sibanye-Stillwater’s business strategy; exploration and development activities; the ability of Sibanye-Stillwater to comply with requirements that they operate in a sustainable manner; changes in the market price of gold, PGMs and/or uranium; the occurrence of hazards associated with underground and surface gold, PGMs and uranium mining; the occurrence of labour disruptions and industrial action; the availability, terms and deployment of capital or credit; changes in relevant government regulations, particularly environmental, tax, health and safety regulations and new legislation affecting water, mining, mineral rights and business ownership, including any interpretations thereof which may be subject to dispute; the outcome and consequence of any potential or pending litigation or regulatory proceedings or other environmental, health and safety issues; power disruptions, constraints and cost increases; supply chain shortages and increases in the price of production inputs; fluctuations in exchange rates, currency devaluations, inflation and other macro-economic monetary policies; the occurrence of temporary stoppages of mines for safety incidents and unplanned maintenance; the ability to hire and retain senior management or sufficient technically skilled employees, as well as their ability to achieve sufficient representation of historically disadvantaged South Africans’ in management positions; failure of information technology and communications systems; the adequacy of insurance coverage; any social unrest, sickness or natural or man-made disaster at informal settlements in the vicinity of some of Sibanye-Stillwater’s operations; and the impact of HIV, tuberculosis and other contagious diseases. These forward-looking statements speak only as of the date of the content. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the extent legally required).

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”)

Business Address:

Libanon Business Park

1 Hospital Street

(Off Cedar Ave)

Libanon, Westonaria, 1780

Postal Address:

Private Bag X5

Westonaria, 1780

Tel +27 11 278 9600

Fax +27 11 278 9863

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