Resolute Mining Limited — AGM Information 2012

Nov 26, 2012

27 November 2012

CHIEF EXECUTIVE OFFICER'S PRESENTATION AT AGM

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

GREG FITZGERALD Company Secretary

ANNUAL GENERAL MEETING PERTH

CHIEF EXECUTIVE OFFICER PETER SULLIVAN 27 NOVEMBER 2012

A TRANSFORMATIONAL YEAR IN FY2012

All operations performed strongly in FY2012

Reliability at Syama improved significantly

Board approved a US$241M expansion of Syama

Balance sheet transformed – minimal debt and strong cash, bullion and investment position

Returned $40 million to shareholders through share buybacks during FY2012

Examined a range of investments and acquisitions

FY2013: CONSOLIDATING OUR POSITION

FY2013 guidance of 415,000oz at A$830/oz

Outstanding first quarter – 115,544oz at $705/oz

Dividend of $31 million paid to shareholders

Syama expansion underway – FY2014

Golden Pride closure – Nyakafuru assessment

Strategic investment in Noble Mineral Resources

RESOLUTE: IN A POSITION OF STRENGTH

A GOLD MINER WITH A GLOBAL FOOTPRINT

SYAMA - A PROFITABLE LONG LIFE PROJECT

KeyStatistics
RSGOwnership	80%
Commissioned	2009
FY12Production	145,196oz
FY12Cash Costs	US$813/oz
Throughput	2.4Mtpa
Grade	2.8g/t
TotalReserves	3.6Moz
TotalResources	2.8Moz
MineLife	15+years

SYAMA EXPANSION IS EXTREMELY ROBUST AT CURRENT GOLD PRICE

• § Major expansion approved end of June 2012
  • ‒ Expansion of open pit
  • ‒ Establishment of oxide circuit
  • ‒ Infrastructure including grid power connection
• § Captures total reserves of 3.68Moz including 557Koz oxide material
• § Production increases to average 270,000ozpa
• § Life of Syama pit extended to 15 years
  • ‒ Further underground potential
• § Initial capital cost of US$241M fully funded
• § Extremely robust economics:
  • ‒ LOM pre-tax net cash flow estimated US$1,902M
  • ‒ Payback period <30 months at US$1650/oz gold

"A major expansion of Syama is underway and scheduled to be completed in mid 2014."

GOLDEN PRIDE – A STRONG PRODUCTION RECORD

KeyStatistics
RSGOwnership	100%
Commissioned	1999
FY12Production	115,298oz
FY12Cash Costs	US$764/oz
Throughput	2.4Mtpa
Grade	1.6g/t
TotalReserves	0.1Moz
TotalResources	1.4Moz
MineLife	0.5year

POTENTIAL TO LEVERAGE EXPERIENCE IN TANZANIA

• § Closure of Golden Pride in mid 2013 after 15 years in production
• § Existing 1.1Moz resource located 120km NW of Golden Pride at Nyakafuru
• § Studies underway to evaluate a future development at Nyakafuru – potential to transport GP plant
• § Extensive RC/diamond drilling at Nyakafuru is producing good results:
  • ‒ 34m at 8.87gpt from 74m
  • ‒ 27m at 8.6gpt from 16m
  • ‒ 39m at 3.34gpt from 128m

RAVENSWOOD – STABLE, LONG -TERM PRODUCTION

KeyStatistics
RSGOwnership	100%
Commissioned	2004
FY12Production	137,965oz
FY12Cash Costs	A$753/oz
Throughput	1.5Mtpa
Grade	0.9g/t
TotalReserves	1.5Moz
TotalResources	0.9Moz
MineLife	3+years

RE-OPENING OF SARSFIELD REMAINS AN OPTION

• § Potential to extend Ravenswood life and increase production by reopening Sarsfield pit
  • ‒ Reserves of 1.1Moz
  • ‒ Additional 110kozpa output
  • ‒ Mine life extended by 9 years
• § Feasibility Study estimated capital cost of $123M and LOM average cash costs of $1106/oz
• § Opportunities to improve returns being examined, including:
  • ‒ Tailings storage facility design
  • ‒ Owner Mining
  • ‒ Conversion of near-pit inferred resources to reserves

NOBLE MINERAL RESOURCES INVESTMENT

RSG has taken a 19.9% stake in Noble and backed a US$85 million financing package

Noble operates the Bibiani gold mine in Ghana

To date Bibiani has underperformed and not met production or cost forecasts

Resolute to provide Noble with technical support

Strategic investment by Resolute provides exposure to operational improvements at Bibiani

SOLID CORPORATE STRUCUTRE

KeyInformation
ASX Code	RSG
Shares	642.9M
Price1LastShare	$1.91
Cap1Market	A$1,228M
Turnover2Daily	A$7.36M
Cash/Bullion3	A$159M
Debt3	A$8M
Hedging	NIL
Shareholders	ICM 29.9%
	M&G15.0%
	Vanguard9.0%
	VanEck5.0%

1. Current at 26 November 2012

2. Three month average at 26 November 2012

3. Current at 30 September 2012

A PROVEN GOLD PRODUCER

One of the largest gold producers listed on the ASX

Three operating assets across Africa and Australia

FY2013 guidance of 415,000oz at A$830/oz

100% unhedged – strong leverage to gold price

Internally funded Syama expansion to 270Koz pa

Ungeared balance sheet provides flexibility for capital management and future growth

Thank you

DISCLAIMER

• 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 R Bray and I Wearing, competent persons as defined by the code. R Bray and I Wearing have consented 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. All Reserves Resources as at 30 June 2012
• 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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JORC RESERVES

Gold Reserves			Project	ResoluteGroup	ResoluteGroup
(includes stockpiles)	Project	Goldgrade(q/t)	ContainedOunces	Share	Shareounces
	Tonnes		Gold	$\frac{9}{6}$
RESERVES
Reserves (Proved)
Australia
Mt Wright (insitu) 3	4,845,000	2.6	400,000	100%	400,000
Sarsfield (insitu) 2	24,150,000	0.8	629,000	100%	629,000
Mali
Syama (insitu)	14,115,000	3.1	1,392,000	80%	1,114,000
Stockpiles	918,000	2.7	79,000	80%	63,000
A21 (insitu)	1,058,000	2.2	76,000	80%	61,000
Alpha (insitu)	468,000	2.2	33,000	80%	26,000
Beta (insitu)	216,000	2.2	15,000	80%	12,000
Finkolo-Etruscan JV (insitu)	1,335,000	3.1	133,000	51%	68,000
Tanzania
Golden Pride (insitu)	628,000	2.2	44,000	100%	44,000
Stockpiles	468,000	1.2	18,000	100%	18,000
Total (Proved)	48.201.000	1.8	2.819.000		2.435,000
Reserves (Probable)
Australia
Mt Wright (insitu) 3	25,000	2.6	2,000	100%	2,000
Sarsfield (insitu) 2	20,520,000	0.7	466,000	100%	466,000
Mali
Syama (insitu)	15,425,000	2.8	1,371,000	80%	1,097,000
Stockpiles	1,432,000	1.8	83,000	80%	66,000
A21 (insitu)	2,748,000	2.3	205,000	80%	164,000
Alpha (insitu)	627,000	2.0	41,000	80%	33,000
Beta (insitu)	692,000	2.2	50,000	80%	40,000
Finkolo-Etruscan JV (insitu)	1,821,000	2.8	163,000	51%	83,000
Tanzania
Golden Pride (insitu)	413,000	2.3	30,000	100%	30,000
Stockpiles	683,000	1.0	17,000	100%	17,000
Total (Probable)	44,386,000	1.7	2,428,000		1,998,000
Total Reserves (Proved and

JORC RESOURCES

Gold Resources 1(includes stockpiles)	ProjectTonnes	Goldgrade(q/t)	ProjectContainedOuncesGold	ResoluteGroupShare$\frac{9}{6}$	ResoluteGroupShareounces
						RESOURCES1
						Resources (Measured)
Australia
Sarsfield (insitu) 2	1,840,000	1.0	59,000	100%	59,000
Mali
Syama (insitu)	2,630,000	3.0	254,000	80%	203,000
A21 (insitu)	393,000	1.8	22,000	80%	18,000
Alpha, Beta & Tellem (insitu)	241,000	1.5	12,000	80%	10,000
Finkolo-Etruscan JV (insitu)	996,000	2.7	87,000	60%	52,000
Tanzania
Golden Pride (insitu)	3,786,000	2.0	238,000	100%	238,000
Total (Measured)	9,886,000	2.1	672,000		580,000
Resources (Indicated)
Australia
Mt Wright (insitu) 3	780,000	2.6	65,000	100%	65,000
Sarsfield (insitu) 2	3,730,000	1.0	120,000	100%	120,000
Mali
Syama (insitu)	7,414,000	2.7	644,000	80%	515,000
Stockpiles	3,691,000	1.5	172,000	80%	138,000
A21 (insitu)	2,341,000	1.7	128,000	80%	102,000
Alpha, Beta & Tellem (insitu)	1,852,000	2.0	120,000	80%	96,000
Finkolo-Etruscan JV (insitu)	2,674,000	2.6	224,000	60%	134,000
Tanzania
Golden Pride (insitu)	6,744,000	1.8	401,000	100%	401,000
Golden Pride(stockpiled)	1,300,000	0.7	27,000	100%	27,000
Nyakafuru JV (insitu) 2	7,700,000	2.2	545,000	100%	545,000
Total (Indicated)	38,226,000	2.0	2,466,000		2,143,000
Total Resources (Measured andIndicated)	48,112,000	2.0	3,138,000		2,723,000

Gold Resources 1(includes stockpiles)		Goldgrade(g/t)	Project	ResoluteGroupShare$\frac{0}{6}$	ResoluteGroupShareounces
	ProjectTonnes		ContainedOuncesGold
Australia
Mt Wright (insitu) 3	193,000	2.0	12,000	100%	12,000
Sarsfield (insitu) 2	16,130,000	0.8	437,000	100%	437,000
Welcome Breccia (insitu)	2,040,000	3.2	210,000	100%	210,000
Mali
Syama (insitu)	3,800,000	2.4	293,000	80%	234,000
A21 (insitu)	5,544.000	2.1	366,000	80%	293,000
Alpha, Beta & Tellem insitu)	3,280,000	2.3	246,000	80%	197,000
Finkolo-Etruscan JV (insitu)	3,100,000	2.2	219,000	60%	131,000
Tanzania
Golden Pride (insitu)	12.945.000	1.7	724.000	100%	724,000
Nyakafuru JV (insitu) 2	11,700,000	1.4	527,000	75%	393,000
Total (Inferred)	58,732,000	1.6	3,034,000		2,631,000
Total Resources	106.844.000	1.8	6.172.000		5,354,000

Notes:

1. Mineral Resources are exclusive of Reserves – differences may occur due to rounding.

2. All Resources and Reserves are reported above 1gpt cut-off except Sarsfield above 0.4gpt cut-off and Nyakafuru above 0.5gpt cut-off. 3. Mt Wright underground Reserves and Resources reported above 1.8gpt cut-off.