Ballarat Goldfields is an Australian gold explorer and developer, with a strong
portfolio of projects primarily focused on the highly prospective Ballarat gold
province in Victoria.

Situated in one of the most famous historical gold mining regions of Australia,
Ballarat produced over 12 million ounces before it's premature closure, around
the time of the first world war.

In 2004, for the first time following discovery in the 1850's, the leases over
the entire Ballarat field were consolidated under the sole ownership of BGF.
This has resulted in the company constructing a comprehensive geological model
of the entire field, demonstrating what many had suspected, that Ballarat had
massive unexplored prospectivity.

BGF completed a pre-feasibility study in 2004 which proposed an initial
underground mine at Ballarat East, with twin access declines servicing the
haulage and ventilation. The mine, based on BGF's geological model, has a life of 21 years, and would achieve an average production rate of approximately
200,000 ounces of gold per annum.

Website For Own Research
http://www.ballarat-goldfields.com.au

Top 20 Ordinary Shareholders Hold 69.66% of Issued Capital: 5th July 2006

Diggers & Dealers - Investor Presentation ASX and Media Release: 9th August 2006

Ballarat-Goldfields Annual Report2006

Ballarat East Revised Development Strategy ASX and Media Release: 7th September 2006

Ballarat Goldfields N.L.
28 November 2006

Ballarat Goldfields NL

ASX and Media release: 28 November 2006

Chairman's Address - AGM 28 November 2006

Thank you all for coming to today's meeting. This past year has been a
significant one for Ballarat Goldfields NL, culminating in the announcement of
the proposed merger with Lihir Gold Limited (Lihir). In essence the merger with
one of Australia's leading gold producers will allow the plans we have for
Ballarat Goldfields to be funded thus ending any uncertainty about the Company's
ability to raise the $120m needed to develop the Ballarat East Project. The
Company post merger will have the capacity to advance our extended portfolio of
exploration projects, including Ballarat South, Ballarat West and Berringa.

As noted in the Annual Report, your Company delivered on the objectives set for
the year to June 2006 and in the process a number of significant milestones were
achieved that underscored our belief in the longer term prospects for Ballarat
Goldfields. Considerable investment in the exploration program, coupled with the
greatly increased understanding of the mineralisation at Ballarat East, led to a
significant increase in our previously reported Resource estimate to 1.4 million
ounces of gold.

We have continued to develop the underground mine and completed construction of
most of the major surface infrastructure including stage one of our 600,000
tonne per annum processing facilities continuing our transition from explorer to
producer.

Our focus remains on the evolution of our geological model in order to generate
long term value and this year crucial information, derived from this process and
our early stope development, has enabled us to prioritise and better target our
exploration and development activities. This has led to a change in our mine
plan to focus on the higher grade mineralisation at depth and includes an
increase the Company's target output from the Ballarat East field from 200,000
to 250,000 ounces per annum.

The proposed merger with Lihir by a scheme of arrangement, whereby Ballarat
Goldfields would become a wholly owned subsidiary, ensures that the funding of
the $120m development plan for Ballarat East goes ahead. It also means that the
management, staff and contractors currently working with Ballarat Goldfields
will continue to be employed and that this important economic activity for
Ballarat and the Victorian economy will continue. The Managing Director will
further explain the very sound rationale for this move.

All in all a very satisfactory year and the merger with Lihir ensuring that the
full potential of Ballarat Goldfields can be realised.

Before asking Richard Laufmann to speak I would like to record the Board's and
Management's appreciation of the role played by Colin Smith the previous
Chairman of your Company. Colin made an exceptional contribution to the
development of Ballarat Goldfields and his unwavering enthusiasm in the future
of the Company ensured that we reached the stage we are at today. We all wish
him well in his retirement.

END

explosive,

Hard Luck.

Out of interest, as Lihir are ASX and NASDAQ listed, why can't they be held in an ISA?

Andy - If I'm correct only stocks traded on the FTSE can be held in an ISA. I put it down to experience and move on, no point hanging around to if the sp will recover slightly as theres other good shares going cheap at the moment. Should anyone be holding then best of luck but for me its pastures green!

Ballarat Goldfields N.L.
15 December 2006


ASX and Media release: 15 December 2006


Ballarat Goldfields and Lihir Gold Proposed Merger -
Court Approval


Ballarat Goldfields N.L. (Ballarat Goldfields) is pleased to announce that the
Supreme Court of Victoria today has made orders convening a meeting of Ballarat
Goldfields shareholders (Scheme Meeting) to consider the Scheme of Arrangement
for the company's proposed merger with Lihir Gold Limited (Lihir), that was
announced on 17 October 2006.

ASIC is being asked to register the Explanatory Statement for this purpose,
which will be the subject of a subsequent announcement.

The Explanatory Statement will be mailed to Ballarat Goldfields shareholders by
12 January 2007 to provide them with relevant information necessary to determine
whether to vote in favour of the merger at the Scheme Meeting that will take
place on 12 February 2007 in Ballarat.





For further information, please visit our website
www.ballarat-goldfields.com.au

or contact Joel Forwood, Manager Corporate and Markets, on 03 5327 1111

Ballarat Goldfields N.L.
18 December 2006

BALLARAT GOLDFIELDS NL
ASX and Media release: 18 December 2006


Ballarat Goldfields and Lihir Gold Proposed Merger -

Release of Explanatory Statement


Ballarat Goldfields N.L. (Ballarat Goldfields) is pleased to announce that on
Friday 15 December 2006 the Supreme Court of Victoria made orders convening a
meeting of Ballarat Goldfields shareholders (Scheme Meeting) to consider the
Scheme of Arrangement for the company's proposed merger with Lihir Gold Limited
(Lihir), that was announced on 17 October 2006.


Explanatory Statement and Scheme Meeting

ASIC has subsequently registered the Explanatory Statement for this purpose and
a copy follows. This will be mailed to Ballarat Goldfields shareholders by 12
January 2007 to provide them with relevant information necessary to determine
whether to vote in favour of the merger at the Scheme Meeting that will take
place on 12 February 2007 in Ballarat.


The Explanatory Statement is also available on the Ballarat Goldfields website
at


www.ballarat-goldfields.com.au



Directors' Recommendation

The Directors of Ballarat Goldfields unanimously recommend that, in the absence
of a superior proposal, Ballarat Goldfields shareholders vote in favour of the
proposed merger as they believe it will deliver significant value to Ballarat
Goldfields shareholders. Ballarat Goldfields Directors (all of whom hold
Ballarat Goldfields shares) intend to vote their shares, and any proxies cast at
their discretion, in favour of the merger.


Scheme Consideration

Under the terms of the Scheme, Lihir will acquire all of the shares in Ballarat
Goldfields with Ballarat Goldfields shareholders receiving 5 New Lihir Shares
for every 54 Ballarat Goldfields shares held.


Independent Expert

An independent expert's report from Grant Samuel & Associates Pty Ltd (Grant
Samuel) has assessed the proposed merger and has concluded that, on balance, the
Scheme is in the best interests of Ballarat Goldfields shareholders.


Next Steps

Ballarat Goldfields shareholders will be asked to vote at the Scheme Meeting,
which will take place at 10.00am on 12 February 2007 at the Ballarat Lodge, 613
Main Road Ballarat.



If shareholders vote in favour of the merger, Ballarat Goldfields intends to
seek court approval at a second hearing of the Supreme Court of Victoria, which
is expected to occur on or about 23 February 2007. Subject to Court approval at
this hearing, implementation of the Scheme would occur on or about 5 March 2007.






For further information, please visit our website
www.ballarat-goldfields.com.au

or contact Joel Forwood, Manager Corporate and Markets, on 03 5327 1111

LONDON (AFX) - Ballarat Goldfields NL said underground development at the Ballarat East project in Australia was slightly ahead of schedule with key depth and lateral targets achieved during the period.

The company said the development rates at the project were sustained at the high rates achieved in the previous quarter with a total of 989 metres developed for the December quarter.

The current development rates are expected to be maintained and improved upon, Ballarat added.

In September, Ballarat announced a revised development plan which would defer production to 2008.



newsdesk@afxnews.com

tsm/ks

Ballarat Goldfields N.L.
12 February 2007

BALLARAT GOLDFIELDS NL
ASX and Media release: 12 February 2007


Ballarat Goldfields Shareholders Vote in Favour

of Proposed Scheme of Arrangement


The following information regarding the result of the resolutions considered at
the Ballarat Goldfields (ASX, AIM: BGF) Scheme Meeting is provided in accordance
with ASX Listing Rule 3.13.2 and section 251AA of the Corporations Act 2001
(Cth) (Act).

The shareholders of Ballarat Goldfields NL today voted in favour of a resolution
proposing agreement to the Scheme of Arrangement with its shareholders
(excluding Lihir Australian Holdings Pty Ltd) for the merger of Ballarat
Goldfields NL with Lihir Gold Limited. Accordingly, Ballarat Goldfields NL will
seek the approval of the Supreme Court of Victoria for the Scheme at a Court
hearing on 23 February 2007.


If the Court approves the Scheme then ASX will be advised immediately. The
Scheme Effective date is expected to be 26 February 2007 and trading in Ballarat
Goldfields NL securities will cease. The record date for determining Scheme
entitlements will be 5 March 2007.


Scheme Meeting - Resolution 1.

The resolution was carried on a poll, with:

95.87% of shareholders present and voting at the Share Scheme Meeting (in person
or by proxy) voting for the resolution - being greater than the requirement for
a majority in number (more than 50%); and

94.10% of the total number of votes cast on the resolution by shareholders
entitled to vote voting for the resolution, being greater than the requirement
for at least 75%.

The detailed result of the poll was:
Total For Against % For
Votes Cast 651,410,018 612,981,106 38,428,912 94.10%
Shareholders voting 2,180 2,090 90 95.87%

In accordance with ASX Listing Rule 3.13.2 and Section 251AA(2) of the
Corporations Act, we advise that proxy votes received for the meeting were as
follows:
Total For Against Open % For
Votes Cast 667,722,675 582,848,048 38,258,028 46,616,599 87.29%

For further information, please visit our website
www.ballarat-goldfields.com.au