Resolute Mining Limited — Capital/Financing Update 2007

Nov 1, 2007

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ASX ANNOUNCEMENT

RENOUNCEABLE RIGHTS ISSUE – SHORTFALL NOTICE

Resolute Mining Limited is pleased to advise that its 1 for 5 renounceable rights issue of 46.4 million shares to raise $51 million was strongly supported by the Company’s shareholders.

The Company has received applications subscribing for approximately 46 million Resolute Mining shares at a price of $1.10 per share for total proceeds of $50.6 million. This equates to a 99% take up.

The renounceable rights issue was not underwritten and the directors have elected not to place the shortfall. In accordance with the previously provided timetable, new Resolute Mining shares and holding statements will be dispatched on 5 November 2007.

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PETER SULLIVAN Chief Executive Officer

1 November 2007

RESOLUTE MINING LIMITED A.C.N. 097 088 689 A.B.N. 39 097 088 689 4[th] Floor, The BGC Centre, 28 The Esplanade, Perth, Western Australia 6000. PO Box 7232 Cloisters Square, Perth, Western Australia 6850. Telephone +61 8 9261 6100 Facsimile +61 8 9322 7541 Email : contact@resolute-ltd.com.au