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ASX ANNOUNCEMENT

ANNUAL GENERAL MEETING

CHIEF EXECUTIVE OFFICER PRESENTATION

Attached is a copy of the Chief Executive Officer’s presentation to be given at the Company’s Annual General Meeting today at 10.00 a.m. (Western Standard Time).

For and on behalf of the Board

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GREG FITZGERALD Company Secretary

25 November 2008

Resolute Mining Limited

Annual General Meeting Investor Presentation November 2008

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Disclaimer

Note: All Reserves Resources as at 30 June 2008

This presentation includes certain statements, estimates and projections with respect to the future performances of Resolute Mining. Such statements, estimates and projections reflect various assumptions concerning anticipated results, which assumptions may prove not to be correct. The projections are merely estimates by Resolute Mining, of the anticipated future performance of Resolute Mining’s business based on interpretations of existing circumstances, and factual information and certain assumptions of economic results, which may prove to be incorrect. Such projections and estimates are not necessarily indicative of future performance, which may be significantly less favourable than as reflected herein. Accordingly, no representations are made as to the fairness, accuracy, correctness or completeness of the information contained in this presentation including estimates or projections and such statements, estimates and projections should not be relied upon as indicative of future value, or as a guarantee of value of future results. This presentation does not constitute an offer, invitation or recommendation to subscribe for or purchase securities in Resolute Mining Limited.
The information in this presentation as it relates to ore reserves, mineral resources or mineralisation is reported in accordance with the Aus.IMM “Australian Code for reporting of Identified Mineral Resources and Ore Reserves” and is based on information compiled by T Brown and R Bray, competent persons as defined by the code. T Brown and R Bray have consented in writing to the inclusion in this report of the numbers based on the information in the form and context in which it appears. “Significant” drill results refer to results that are indicative of potentially economic mineralisation or that warrant follow-up work.
In providing this presentation, Resolute Mining has not considered the objectives, financial position or the needs of the recipient. The recipient should obtain and rely on its own financial advice from its tax legal accounting and other professional advisers in respect of the recipients objectives financial position and needs. To the maximum extent permitted by law neither Resolute Mining nor its related corporations ,directors, employees or agents nor any other person accepts liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it. You represent and confirm by attending and or retaining this presentation that you accept the above conditions.

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About Resolute Mining

Experienced developer and operator of gold projects
Asset portfolio includes projects in Australia, Mali and Tanzania
Successfully produced 4.8 million ounces of gold to date
Current Reserves ~3m ounces
Current Total Resources ~12m ounces
Two operating mines
The redevelopment of the Syama gold mine now 88% complete and is scheduled to contribute circa 70,000 ounces in FY’09 growing to 250,000 ounces in FY’10
Group FY’08 Production of ~300,000 ounces forecast to grow to ~350,000 ounces in FY’09

Growing Production Profile

Syama (Mali) – Overall redevelopment now 88% complete – gold production from the oxide plant due November, Roaster commissioning and sulphide ramp-up scheduled for March Qtr 2009
• Mt Wright / Ravenswood (Queensland Australia ) – Transition from Sarsfield open pit to Mt Wright underground
Golden Pride (Tanzania) – Cutback underway for pit deepening

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500
450
400
350
300 Syama
250 Mt Wright
200 Sarsfield
150 Golden Pride
100
50
0
2008 2009 2010 2011
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Expected Company production of towards 450,000 ounces pa by FY’11 (a 50% increase over 3 years)
Significant reserves and resources proven coupled with excellent exploration potential
• 2 year capital spend of over A$250m nearing completion

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Resource Profile

Reserves & Resources	Reserves & Resources	Reserves & Resources	Reserves & Resources	Reserves & Resources
Reserves	Equity	Mt	Au g/t	Au koz
Golden Pride	100%	11.0	1.5	523
Ravenswood	100%	8.6	1.4	394
Syama	80%	22.5	2.8	1,648
Total		42.1	2.2	2,565
Resources	Equity	Mt	Au g/t	Au koz
Golden Pride	100%	25.5	1.7	1,379
Ravenswood	100%	31.5	1.6	1,576
Syama	80%	49.1	2.5	3,186
Regional	81%	41.8	1.7	1,053
Total		147.9	1.7	7,990

1. Attributable Ounces

Resources excludes Reserves

Syama Project - Mali

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Syama Project – Overview

Located in the south of Mali 30kms from the Cote d’Ivoire border in an emerging gold belt
Joint venture, Resolute 80% : Mali Govt 20%
Major asset of Resolute with over 6 million ounces in Reserves and Resources
Additional Production of 250,000+ ozs pa
Potential for 10+ Year Operation

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Syama Project – Current Status

Redevelopment construction is now 88% complete
Operations have commenced and mining successfully ramped up
Non sulphide commissioning completed (first gold production coming from stockpiled ore)
Sulphide commissioning and Sulphide production in 1Q 2009
Excellent exploration portfolio around Syama and at Tellem, Tabakoroni and N’gokoli

Outlook

Several Expansion/Extension Projects
Free Milling Feasibility
– Finkolo JV Feasibility
– Underground Scoping Study 8

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Syama Project – Free Milling Feasibility

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A21 - Quartz Vein Hill
Oxide mineralisation
over 6 km of strike
•
Add Free Milling Circuit
A21 & QVH 601,000oz
resource
•
1 – 1.5 mtpa Oxide Feed
•
Extra 80 – 100 kozs pa
Main Pit
•
Incremental Capex
•
Completion by 1Q 09
Basso Areas
10 km of unexplored strike
Oxide mineralisation at
Tellem and Drag Queen
Prospects
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Syama Project – Finkolo JV Feasibility

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Resolute 60%:Etruscan 40%
Extends Resolute control to over 75 km of a poorly explored and very prospective gold belt
Tabakoroni Resource 745,000 ounces
Feasibility commenced on best development option
Completion by 2H09

Regional Aeromagnetics and Prospects

Syama Project – Underground Scoping Study

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Resource of 3.3m ozs below pit
Inwall ramp extend to decline
Infill drilling required to further stope design

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Ravenswood Project – Queensland Australia

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Ravenswood Project – Overview

Located approximately 95kms south west of Townsville in north east Queensland
Resolute holds a 100% interest in the project
Over 1 million ounces in Reserves and Resources
FY’08 production yielded 142,833 ozs @ Cash Cost A$743/oz
Ore principally sourced from Sarsfield open pit and stockpiles
Mt Wright underground development progressing with decline now at 400m vertical and 3 stopes in place
Focusing on decreasing cash costs

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Ravenswood Project – Mt Wright

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Decline Progress to 400m Vertical
• 3 Stopes Developed
• Development Drilling Confirms Orebody Model
• Good Recovery at Plant
• Costs in Line with Feasibility + Escalation
• Improved Head Grade

Ravenswood Project – Mt Wright Development

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Ravenswood Project – Mt Wright Depth Potential

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Brecciated Rhyolite Pipe
• No Drilling Below 800m
• Drilling to Test Further 300m Depth
• Scope to Significantly Increase Resource
• Material Change to Operating Plan
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Ravenswood Project – Exploration Targets

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Golden Pride Project – Tanzania

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Golden Pride Project – Overview

Located in Tanzania, East Africa approximately 200kms south of Lake Victoria
Resolute holds a 100% interest in the project
Over 1,790,000 ounces in Reserves and Resources
FY’08 production yielded 150,224 ounces @ Cash Cost US$449/oz
Mining to New Pit Design and estimated 4 Year Production Life remaining for exiting mine
Production expected to be lower in FY’09 as ore constrained
Exploration focus on Kavsav target which is now defined over 1,600m of strike

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Golden Pride Project – Outlook for Development

• Potential Pit Life Extension

- 0.4m resource ounces
Deeper Pit
South, West and Eastern Extensions
Nyakafuru
Now 100% owned
1.0m resource ounces
120kms from GP

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Golden Pride Project – Regional Exploration

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Consolidating tenure around Golden Pride and exploring under shallow cover with new exploration tools

Exploration and Resource Growth

Strong commitment to exploration focusing on adding value to existing assets
A$10 million budgeted exploration spend for FY’09
Focus on very prospective near mine tenure by expanding resources around the Company’s existing operations in Mali, Tanzania and Queensland
Exploration programme around the Syama project continues to deliver excellent results with new expanded satellite resource discoveries now totalling over 1.3 million ounces
In Tanzania, a new discovery at Kavsav only 8km for Golden Pride is now being systematically drilled out
Focusing on cost effective addition of ounces

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Hedging

Gold Hedging	Forward Sales	Forward Sales	Gold Put Options Bought	Gold Put Options Bought
Y/E	Ounces	$	Ounces	$
AUD’s
30/06/09	1,723	732	15,000	660
30/06/10	77,361	726	-	-
30/06/11	108,061	726	52,800	1,000
30/06/12	27,015	726	57,200	1,000
	214,162	726	125,000	959
USD’s
30/06/09	56,749	531	-	-
30/06/10	37,065	527	-	-
	93,814	527	-	-
Total	307,976		195,000

Sold Gold Call Options			Ounces	$
Y/E
AUD’s
30/06/09			25,000	1,085

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500
450
400
350
300
Production
250
Hedging
200
150
100
50
0
2009 2010 2011
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Debt

At 30 September 2008 Resolute’s total borrowings were A$82.9m with the A$ at 0.7904 (compared to A$69.4m at 30 June 2008) comprising of
US$55m owing on the Barclay’s debt facility
US$7.7m of loans from Barclays used to purchase gold put options
Hire purchase / finance leases totaling A$3.5m
Increase in total borrowings due to significant weakening of AUD against USD
Standby credit facility of A$20m drawn down

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Corporate Summary

•	Capitalisation				10,000 Vol ('000)		6	month	month	Share	Share	Price	Price	Performance	Performance	Performance	and	Volume		2.80 Price ($)	2.80 Price ($)
•	Issued Shares:			281 million	8,000																2.40
•	Unlisted Options:			2.2 million
																					2.00
•	6 Month Price Range:			A$2.55 – $0.46	6,000
•	Average Monthly Turnover:			6.9million	4,000																1.60
•	Market Cap:			A$134.9 million																	1.20
					2,000																0.80
•	Major Shareholders				0																0.40
• •	Alliance Life Common Barclays Capital		Fund	39.9% 8.0%	Jun-08 10,000 Vol ('000)		2	Jul-08 year Share			A ug-08 Price	Sep-08 Performance				Oct-08 and Volume			No v-08 2.80 Price ($)
• • •	Officium Acorn Capital Board of Directors			6.7% 6.5%	6,000 8,000																1.60 2.00 2.40
•	Peter Huston		Non	Exec Chairman	4,000																1.20
•	Peter Sullivan		Managing Director		2,000																0.80
•	Tom Ford	Non Executive Director
					0																0.40
•	Bill Price	Non Executive Director			No v-06	Feb-07			M ay-07	A ug-07			No	v-07	Feb-08		M ay-08	A ug-08		Nov-08

Capital Requirement – Key Points

New capital requirement driven primarily by Syama cost overun and delays
Impacted adversely by recent fall of $A:$US, Sept 08 0.83 - 0.65
The overruns can be attributed specifically to;
cost escalation between estimates and orders
scope changes
delays in manufacturing, construction, transport
Operating working capital increases associated with start up delays
mining activity and operational build from early 2008
early production due to start in July 08
problematic start up, mechanical issues and ore handling
plant availability improving during Nov 08

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Capital Raising – Restructured and Re-priced

The falls in capital markets necessitated a restructuring and re-pricing of the Company’s issue
The Company is undertaking two contemporaneous capital raising initiatives structured with input from key and supportive shareholders which combined could raise up to $72.5 million (min $50m)
Placement of redeemable listed convertible notes to raise up to $60 million with a priority pool for shareholders
- Face value of 50¢
- 4 year term
- 1:1 conversion ratio
- Coupon rate of 12% payable half yearly in arrears
- 1 for 3 attaching 3 year option with an exercise price of 60¢
- Redemption at maturity or by Resolute after 3 years
1 for 9 non-renounceable rights issue to all shareholders at 40¢ per share with a 1 for 3 attaching 3 year option exercisable at 60¢ to raise up to $12.5 million

Use of Funds

$ million Projected use of funds raised	$ million Projected use of funds raised
Completion of the Syama mine	30.0
Ramp up of Syama operation and working capital	22.0
Development at Mt Wright	5.0
Completion of Syama Free Milling and Finkolo Feasibility Studies	3.0
Total	60.0

Any funds raised in excess of $60 million will be used for working capital or to pay down debt

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Proposed Timetable

•	Pre Marketing of Convertible Note Placement & Rights Issue	Pre Marketing of Convertible Note Placement & Rights Issue
	during which firm commitments to receive a	1 for 3	up to 26 November 2008
	commitment option(1)
•	Lodge Prospectus for Convertible Note Placement		26 November 2008
•	Lodge Prospectus for Rights Issue		26 November 2008
•	Despatch of Prospectus		4 December 2008
•	Despatch of Rights Issue Prospectus		10 December 2008
•	Placement of Convertible Note Closes		18 December 2008
•	Meeting to Approve Convertible Note Placement		22 December 2008
•	Rights Issue Closes		24 December 2008
•	Anticipated Quotation of Convertible Notes		30 December 2008
(1)	Subject to shareholder approval
	Timetable subject to change
		29

Investment Summary

Focussed on gold production with an expected 350,000 ozs production profile in FY’09
Quality asset portfolio with excellent exploration potential
Capital raisings will complete funding of development activities allowing focus on productivity and costs
With circa 20%/25% of production being delivered into hedges there is meaningful leverage to gold price movements where the current price of circa AUD$1,100 sits well above current group cash costs
Anticipate significant cashflow generation at an EBITDA level over the next 4 years capable of retiring debt.
The task before the Directors and Management is to secure the funding, complete Syama and deliver expected gold production within budgeted operational framework so as to deliver shareholders returns

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AI assistant

Resolute Mining Limited AGM Information 2008

10548_rns_2008-11-24_8f2de4d0-b1a9-404a-9421-59635f4a3963.pdf

ASX ANNOUNCEMENT

ANNUAL GENERAL MEETING

CHIEF EXECUTIVE OFFICER PRESENTATION

Resolute Mining Limited

Disclaimer

Note: All Reserves Resources as at 30 June 2008

About Resolute Mining

Growing Production Profile

Resource Profile

1. Attributable Ounces

Syama Project - Mali

Syama Project – Overview

Syama Project – Current Status

Outlook

Syama Project – Free Milling Feasibility

Syama Project – Finkolo JV Feasibility

Syama Project – Underground Scoping Study

Ravenswood Project – Queensland Australia

Ravenswood Project – Overview

Ravenswood Project – Mt Wright

Ravenswood Project – Mt Wright Development

Ravenswood Project – Mt Wright Depth Potential

Ravenswood Project – Exploration Targets

Golden Pride Project – Tanzania

Golden Pride Project – Overview

Golden Pride Project – Outlook for Development

• Potential Pit Life Extension

Golden Pride Project – Regional Exploration

Exploration and Resource Growth

Hedging

Debt

Corporate Summary

Capital Requirement – Key Points

Capital Raising – Restructured and Re-priced

Use of Funds

Proposed Timetable

Investment Summary

AI assistant

Resolute Mining Limited — AGM Information 2008

10548_rns_2008-11-24_8f2de4d0-b1a9-404a-9421-59635f4a3963.pdf

ASX ANNOUNCEMENT

ANNUAL GENERAL MEETING

CHIEF EXECUTIVE OFFICER PRESENTATION

Resolute Mining Limited

Disclaimer

Note: All Reserves Resources as at 30 June 2008

About Resolute Mining

Growing Production Profile

Resource Profile

1. Attributable Ounces

Syama Project - Mali

Syama Project – Overview

Syama Project – Current Status

Outlook

Syama Project – Free Milling Feasibility

Syama Project – Finkolo JV Feasibility

Syama Project – Underground Scoping Study

Ravenswood Project – Queensland Australia

Ravenswood Project – Overview

Ravenswood Project – Mt Wright

Ravenswood Project – Mt Wright Development

Ravenswood Project – Mt Wright Depth Potential

Ravenswood Project – Exploration Targets

Golden Pride Project – Tanzania

Golden Pride Project – Overview

Golden Pride Project – Outlook for Development

• Potential Pit Life Extension

Golden Pride Project – Regional Exploration

Exploration and Resource Growth

Hedging

Debt

Corporate Summary

Capital Requirement – Key Points

Capital Raising – Restructured and Re-priced

Use of Funds

Proposed Timetable

Investment Summary

More from Resolute Mining Limited

Resolute Mining Limited AGM Information 2008