Resolute Mining Limited — AGM Information 2014

Nov 24, 2014

ASX ANNOUNCEMENT

25 November 2014

01

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).

GREG FITZGERALD Company Secretary

About Resolute:

Resolute is an unhedged gold miner with two operating mines in Africa and Australia. The Company is one of the largest gold producers by volume listed on the ASX. Resolute's flagship Syama project in Mali is on track for an increase in production to 270,000oz of gold a year following an approved expansion to be undertaken through FY2016. At its Ravenswood mine in Queensland Resolute is investigating a number of opportunities to add value by increasing gold production and lowering operating costs. In Ghana, the Company is now the owner and operator of the advanced Bibiani gold project where work is being undertaken on an underground feasibility study including a 20,000m drill program. The Company controls an extensive footprint along the highly prospective Syama Shear and Greenstone Belts in Mali and Cote d'Ivoire. Resolute has also identified a number of highly promising exploration targets at its Ravenswood operations and holds a number of exploration projects in Tanzania surrounding its now completed Golden Pride mine.

Annual General Meeting Chief Executive Officer – Peter Sullivan

25 November 2014

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 report that relates to the Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Mr Richard Bray who is a Registered Professional Geologist with the Australian Institute of Geoscientists and Mr Andrew Goode, a member of The Australasian Institute of Mining and Metallurgy. Mr Richard Bray and Mr Andrew Goode both have more than 5 years' experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person, as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Richard Bray and Mr Andrew Goode are full time employees of Resolute Mining Limited Group and each hold equity securities in the Company. They have consented to the inclusion of the matters in this report based on their information in the form and context in which it appears. This information was prepared and first disclosed under the JORC Code 2004. Except where noted, it has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

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.

2014: Solid financials through the gold cycle

Focus on cash

Financial Highlights FY14

Gold production	342,774 oz
Cash Costs	A$922/oz
Goldprice received	A$1,413/oz
Net profit aftertax	A$33.3M
Cash flowfrom operations	A$104.7M
Cash/Bullion/LiqInv	A$69M
Net Assets	A$699M
Gearing1	~13%

• Generating cash over a wide range of gold prices

Gold price (AUD) is daily quoted price, closing Comex price at USD:AUD exchange rate

1Gearing = Debt / (Debt + Equity)

Major Activities

Pursuing a range of opportunities

Syama – Mali

• Oxide circuit expansion commissioning to complete next month ahead of schedule
• 70,000 oz/pa production lift to ~270,000oz/pa from 2015
• Stage 2 mine plan re-optimisation open pit and U/G cutover under review
• Recent high grade underground drill results enhancing prospects of U/G development
• U/G feasibility study brought forward to commence early 2015

Bibiani Gold Mine – Ghana

• 90% ownership completed in June 2014, with Ghanaian Government to hold 10%
• 1.7Moz Mineral Resources, 3Mtpa CIL processing facility, +4Moz gold produced to date
• Significant high grade intercepts from early stages of extensive 25,000m drill program
• New resource modelling ahead of underground Feasibility Study commencing in 2015

Ravenswood – Australia

• Mt Wright ore reserve increase extending mine life 14 months
• Buck Reef West new 1.3Moz gold resource defined1
• Scoping Study being finalised at Buck Reef West

As announced 20 June 2014

Prudent cash flow management

Operational flexibility in lower gold price environment

FY2014

• Syama modified mine plan with reduced capital expenditure
  • ‒ Stage 3 cut back removed, revised Stage 2
• Drive to reduce operating costs, including senior management pay freeze

FY2015

• Retain focus on cash optimisation
  • ‒ Deferral of Syama Stage 2 cut back
  • ‒ AISC reduction US$250/oz
  • ‒ Re-optimise mine plan
• FY2015 guidance 315,000oz at $890/oz
• Up to $25m 10% unsecured convertible note offer currently open

"Addressing the gold price environment via operational flexibility and disciplined capital management"

Syama: resetting the project Managing operations closely

• Oxide Circuit Production
  • Commissioning on budget ahead of schedule
  • 1mtpa throughput, 70,000oz/pa
  • ~ US$700/oz cash cost
  • Oxide ore bodies +7 years Reserves
• Re-Optimise mine plan for Syama orebody
  • Deferral Stage 2 cut back
  • Re-optimise mine plan and cut off between open pit and underground development
• High Voltage Grid Connection
  • US$25m of spend up to FY2016
  • Halve energy cost, ~US$100/oz reduction
• Site Production to average 270,000oz/pa

"Oxide circuit at Syama complete on budget and ahead of schedule"

Syama at depth

Underground boosting ore reserves

• Supports viable robust long term mine life
• Latest results firm up ore body quality at depth and increase size of potential U/G opportunity
  • 88m @ 2.73g/t Au (from 413m)
  • 47m @ 3.00 g/t Au (from 621m)
  • 55m @3.71 g/t Au (from 570m)
• Resource modelling commenced

7

• Definitive feasibility study to follow in early 2015

"Underground reserves support long term, high volume, low cost production at this world class gold mine"

As announced 28 March 2014

Bibiani

Advanced Ghana gold project

• Advanced gold project in West Africa
  • 1.7Moz Mineral Resources 1
  • 3Mtpa CIL processing plant
  • +4Moz historic production
• Fully developed site, recommencing production primarily a mine planning exercise
• 90% ownership completed in June 2014, with Ghanaian Government to hold 10%, in line with Ghanaian Mining Code
• Feasibility Study for an underground operation
  • Planned completion within 24 months
  • 25,000m drill program underway to confirm and potentially build on the existing 1.7Moz resource

1 Bibiani Resource at >2.0 g/t Au Cut-off Coffey Mining Resource Study (June 2012) JORC 2004 Compliant Resource

Bibiani Feasibility Drilling

Exceptional results from initial surface and underground holes

• Historic underground workings over 2.0km strike length and 800m depth, reported 2.0Mozs @ 9.5g/t recovered
• Decline for mechanised equipment down 200m beneath pit with 500m total development strike length
• Current 25,000m drill campaign 38% complete – expected to complete early 2015
• Significant high grade mineralisation intersected in surface and u/g diamond drill program including:
  • 30.9m @13.32g/t from 276.7m
  • 40m @ 20.62g/t from 431m
  • 22m @11.81g/t from 109m
  • 24m@ 6.52g/t from 118m

Ravenswood Mt Wright consistent delivery

Extended mine life

• Ore production consistent 1.4Mtpa from sub-level shrinkage
• Grade dilution well within expectation
• 46% increase to Mt Wright ore reserve1
  • Mining to extend below 600RL base
  • Additional 1.7Mt of ore, 137,000oz gold extending mine life to Sep 20161
• Exploration drilling continues, seeking further mineralisation extension

1

As announced 20 February 2014

Ravenswood: Beyond Mt Wright

New resource provides potential extension to Ravenswood

Buck Reef West

11

• New 1.3Moz gold resource defined1
• Opportunity for a larger scale open pit
• Reserves close to Ravenswood processing facility
• Scoping study being finalised to assess open pit mining schedule options, maximise resource conversion, minimise capital using existing processing and tailings storage facilities

1

As announced 20 June 2014

Golden Pride

End of a long mine life

• Closure of Golden Pride end of 2013 after 15 years in production
• Demolition of treatment plant and site rehabilitation completed
• Handover to Government planned Dec 2014

Key statistics
RSG ownership	100%
Commissioned	1998
Production (FY14)	37,989 oz
Production grade	0.89 g/t
Cash costs (FY14)	US$814/oz
Total Mine Life	15 years
Total Production	2.2 Moz

Proven gold producer

Australian gold company with a focus on Africa

Reserves and Resources Reserves and Resources

Strong underlying gold base Strong underlying gold base

• Total Reserves and Resources 20% at 30 June 2014
  • Reserves at +5Moz of gold:
  • 30% compared to FY13 after mining depletion
  • 1.1Moz underground Reserve added to Syama
  • 46% to Mt Wright
• Resources 20% to 10.4Moz of gold
  • New 1.28Moz Resource at Buck Reef West, Queensland
  • Bibiani underground Resource 1.7Moz

Total Mineral Resource and Ore Reserve

A sustainable gold producer

Flexibility through the gold cycle

• Long-term operator in Africa and Australia
• +5Moz gold Reserves, +10Moz Resources
• FY2015 guidance of 315,000oz at $890/oz
• Operational flexibility in lower gold price environment
• Cash generating over wide range of gold prices
• Production growth options can deliver value

Thank you

RESOLUTE GROUP RESERVES and RESOURCES
Reserves and Resources comply with the Australian code for reporting of Mineral Resources and Reserves (The JORC Code 2004 and JORC Code 2012)
Reserves and Resources Statement as at 30 June 2014								As at 30 June 2013
Gold Reserves		Gold	Project	Group	Group		Gold	Project	Group	Group
(includes stockpiles)	Project	grade	Contained	Share	Share	Project	grade	Contained	Share	Share
	Tonnes	(g/t)	Ounces	%	Ounces	Tonnes	(g/t)	Ounces	%	Ounces
RESERVES					RESERVES					Comments on Differences
Reserves ( Proved)						Reserves ( Proved)
Australia
Mt Wright (insitu)3	2,655,000	2.7	226,000	100%	226,000	3,271,000	2.8	290,000	100%	290,000	Depletion due to annual production offset by reserve extension (February 2014) - JORC2012
Sarsfield (insitu)2	28,450,000	0.8	747,000	100%	747,000	28,450,000	0.8	747,000	100%	747,000	No change
Mali
Syama (insitu)	9,026,000	2.9	856,000	80%	685,000	11,191,000	3.0	1,077,000	80%	862,000	Depletion due to annual production
Stockpiles	196,000	3.2	20,000	80%	16,000	249,000	2.6	21,000	80%	17,000	Movement in operating stockpiles
Syama Satellites (insitu)	3,122,000	2.2	224,000	80%	179,000	3,122,000	2.2	224,000	80%	179,000	No change
Tabakoroni (insitu)	1,335,000	3.1	133,000	85%	113,000	1,335,000	3.1	133,000	51%	68,000	Increase in Group share due to ownership change
Total (Proved)	44,784,000	1.5	2,206,000		1,966,000	47,618,000	1.6	2,492,000		2,163,000	Decrease in Proven Reserves mainly due to MTW & Syama annual production
Reserves ( Probable)						Reserves ( Probable)
Australia
Mt Wright (insitu)3	626,000	1.8	37,000	100%	37,000	0	0.0	0	100%	0	Reserve extension (February 2014) - JORC 2012
Mt Wright Stockpiles3	9,000	2.5	1,000	100%	1,000	60,000	2.9	6,000	100%	6,000	Movement in operating stockpiles - JORC 2012
Sarsfield (insitu)2	18,640,000	0.7	423,000	100%	423,000	18,640,000	0.7	423,000	100%	423,000	No change
Mali
Syama (insitu)	2,955,000	2.6	243,000	80%	194,000	3,439,000	2.6	288,000	80%	230,000	Depletion due to annual production
Syama UG (insitu)5	14,296,000	2.4	1,103,000	80%	882,000	0	0.0	0	80%	0	Additional reserves from UG Pre-Feasibility (March 2014) - JORC 2012
Stockpiles	2,627,000	1.9	157,000	80%	126,000	2,199,000	1.9	136,000	80%	109,000	Movement in operating stockpiles
Syama Satellites (insitu)	4,986,000	2.1	337,000	80%	270,000	4,986,000	2.1	337,000	80%	270,000	No change
Tabakoroni (insitu)	1,821,000	2.8	163,000	85%	139,000	1,821,000	2.8	163,000	51%	83,000	Increase in Group share due to ownership change
Tanzania
Nyakafuru JV (insitu)2	7,360,000	1.6	388,000	98%	380,000	7,360,000	1.6	388,000	98%	380,000	No change
Golden Pride (insitu)	0	0.0	0	100%	0	480,000	2.0	30,000	100%	30,000	Depletion due to annual production - Operation closed 2014
Golden Pride Stockpiles	0	0.0	0	100%	0	1,264,000	0.9	37,000	100%	37,000	Depletion due to annual production - Operation closed 2014
Total (Probable)	53,320,000	1.7	2,852,000		2,452,000	40,249,000	1.4	1,808,000		1,567,000	Increase in Probable Reserves mainly from Syama Underground and MTW
Proved and Probable	98,104,000	1.6	5,058,000		4,418,000	87,867,000	1.5	4,300,000		3,730,000	Increase in Reserves exceeds the 401koz. 2013/14 production depletion

JORC Measured & Indicated Resources

Gold Resources 1		Gold	Project	Group	Group		Gold	Project	Group	Group
(includes stockpiles)	Project	grade	Contained	Share	Share	Project	grade	Contained	Share	Share
	Tonnes	(g/t)	Ounces	%	Ounces	Tonnes	(g/t)	Ounces	%	Ounces
RESOURCES 1						RESOURCES 1					Comments on Differences
Resources (Measured)						Resources (Measured)
Australia
Mt Wright (insitu)3	281,000	2.9	26,000	100%	26,000	0	0.0	0	100%	0	Upgrading of Resources from Indicated and Inferred - JORC 2012.
Stockpiles (Mt Wright)	42,000	2.1	3,000	100%	3,000	0	0.0	0	100%	0	Movement in operating stockpiles
Sarsfield (insitu)2	16,185,000	0.8	393,000	100%	393,000	16,185,000	0.8	393,000	100%	393,000	No change
Buck Reef West (insitu) 2	17,857,000	1.1	598,000	100%	598,000	0	0.0	0	0%	0	New Resource identified at Ravenswood (June 2014) - JORC 2012
Mali
Syama (insitu)	6,900,000	2.4	525,000	80%	420,000	14,769,000	2.6	1,256,000	80%	1,005,000	Resources converted to Reserves
Syama Satellites (insitu)	1,051,000	1.7	56,000	80%	45,000	1,051,000	1.7	56,000	80%	45,000	No change
Tabakoroni (insitu)	996,000	2.7	87,000	85%	74,000	996,000	2.7	87,000	60%	52,000	Increase in Group share due to ownership change
Tanzania
Golden Pride (insitu)	3,786,000	2.0	238,000	100%	238,000	3,786,000	2.0	238,000	100%	238,000	No change
Total (Measured)	47,098,000	1.3	1,926,000		1,797,000	36,787,000	1.7	2,030,000		1,733,000	Increase in Measured Resources mainly due to new resources offset byconversion to Reserves
Resources (Indicated)
						Resources (Indicated)
Australia
Mt Wright (insitu)3	290,000	2.8	26,000	100%	26,000	604,000	3.2	63,000	100%	63,000	Resources converted to Reserves (February 2014) - JORC 2012
Sarsfield (insitu)2	20,384,000	0.7	444,000	100%	444,000	20,384,000	0.7	444,000	100%	444,000	No change
Buck Reef West (insitu) 2	11,582,000	0.9	323,000	100%	323,000	0	0.0	0	0%	0	New Resource identified at Ravenswood (June 2014) - JORC 2012
Mali
Syama (insitu)	12,482,000	2.9	1,153,000	80%	922,000	19,285,000	2.6	1,595,000	80%	1,276,000	Resources converted to Reserves
Stockpiles	4,069,000	1.4	177,000	80%	142,000	3,774,000	1.3	164,000	80%	131,000	Movement in operating stockpiles
Syama Satellites (insitu)	4,840,000	1.9	288,000	80%	231,000	4,840,000	1.9	288,000	80%	231,000	No change
Tabakoroni (insitu)	2,674,000	2.6	224,000	85%	190,000	2,674,000	2.6	224,000	60%	134,000	Increase in Group share due to ownership change
Tanzania
Golden Pride (insitu)	6,744,000	1.8	401,000	100%	401,000	6,744,000	1.8	401,000	100%	401,000	No change
Nyakafuru JV (insitu)2	19,067,000	1.1	672,000	95%	638,000	19,067,000	1.1	672,000	95%	638,000	No change
Ghana
Bibiani (insitu)4	7,629,000	3.4	834,000	90%	751,000	0	0.0	0	0%	0	New Project - Coffey 2012 study (Refer to Table 1)
Total (Indicated)	89,761,000	1.6	4,542,000		4,067,000	77,372,000	1.5	3,851,000		3,318,000	Increase Indicated Resources mainly due to new resources and NewProject

JORC Inferred Resources

Gold Resources 1		Gold	Project	Group	Group			Project	Group	Group
(includes stockpiles)	Project	grade	Contained	Share	Share	Project	Goldgrade	Contained	Share	Share
	Tonnes	(g/t)	Ounces Gold	%	Ounces	Tonnes	(g/t)	Ounces	%	Ounces	Comments on Differences
Resources (Inferred)						Resources (Inferred)
Australia
Mt Wright (insitu)3	967,000	3.1	95,000	100%	95,000	1,090,000	3.1	108,000	100%	108,000	Resources converted
Sarsfield (insitu) 2	22,192,000	0.7	521,000	100%	521,000	22,192,000	0.7	521,000	100%	521,000	No change
Buck Reef West (insitu) 2	12,360,000	0.9	356,000	100%	356,000	0	0.0	0	0%	0	New Resource identified at Ravenswood (June 2014) - JORC 2012
Welcome Breccia (insitu)	2,036,000	3.2	208,000	100%	208,000	2,036,000	3.2	208,000	100%	208,000	No change
Mali
Syama (insitu)	3,403,000	2.3	249,000	80%	199,000	3,425,000	2.3	251,000	80%	201,000	Resources converted
Syama Satellites (insitu)	6,946,000	2.1	479,000	80%	383,000	6,946,000	2.1	479,000	80%	383,000	No change
Tabakoroni (insitu)	3,132,000	2.2	219,000	85%	186,000	3,132,000	2.2	219,000	60%	131,000	Increase in Group share due to ownership change
Tanzania
Golden Pride (insitu)	12,945,000	1.7	724,000	100%	724,000	12,945,000	1.7	724,000	100%	724,000	No change
Nyakafuru JV (insitu) 2	6,312,000	1.1	227,000	90%	204,000	6,312,000	1.1	227,000	90%	204,000	No change
Ghana
Bibiani (insitu)4	7,667,000	3.5	866,000	90%	779,000	0	0.0	0	0%	0	New Project - Coffey 2012 study (Refer to Table 1)
Total (Inferred)	77,960,000	1.6	3,944,000		3,655,000	58,078,000	1.5	2,737,000		2,480,000	Increase in Inferred Resources mainly due to new resources and NewProject
Total Resources	214,819,000	1.5	10,412,000		9,519,000	172,237,000	1.6	8,618,000		7,531,000	Increase in Resources due to New project and new resources offset byconversions to Reserves

1. Mineral resources are exclusive of the Reserves - differences may occur due to rounding.

2. All Resources and Reserves are reported above 1.0 g/t cut-off except Nyakafuru and Buck Reef West above 0.5 g/t cut off and Sarsfield above 0.4 g/t cut off.

3. Mt Wright Reserves are reported above 2.3 g/t cut off and Resources above 1.8 g/t cut off.

4. Bibiani Resources quoted above a 2.0 g/t cut off.

5. Syama Underground Reserves quoted above a 1.8 g/t cut off.