Resolute Mining Limited — Capital/Financing Update 2007

Apr 3, 2007

ASX ANNOUNCEMENT

SYAMA CONSTRUCTION SET TO COMMENCE

Resolute Mining Limited is pleased to announce that formalities for the commencement of construction at Svama have been completed.

The President of Mali, His Excellency, Amadou Toumani Toure, who officiated at a ground breaking ceremony at the site earlier this week, wished the Company well in its development of this very important project for Mali.

Construction activities are now planned to ramp up with the development scheduled for completion in the second half of 2008.

Resolute Mining is six months into a two year development phase and remains focused on successfully bringing into production its key development projects at Mt Wright and Syama. Syama by itself represents nearly 50% of the Company's reserve and resource base.

These projects, which have been substantially funded through the extraction of nearly $200 million in cash from the recent disposal of non core assets, will improve significantly the Company's production base and cost profile when complete.

PETER SULLIVAN Chief Executive Officer

4 April 2007