Resolute Mining Limited — Capital/Financing Update 2008

Dec 9, 2008

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ASX ANNOUNCEMENT

LETTER TO SHAREHOLDERS WITH CONVERTIBLE NOTE & PRO RATA SHARE OFFERS

Please find attached a copy of a letter to be dispatched to shareholders today.

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PETER SULLIVAN Chief Executive Officer 10 December 2008

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

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Dear Shareholder,

Enclosed Prospectuses for Convertible Note Offer and Pro rata Share Offer

You will have recently received a letter from the Company setting out details of a major capital raising to complete the development of our flagship Syama Gold Project in Mali and maintain our other exploration and development activities.

Following from this, we are pleased to enclose with this letter two documents, a prospectus for the Pro-rata Share Offer and another prospectus for the Convertible Note Offer (which includes the supplementary prospectus dated 10 December 2008). You are invited to apply for Convertibles Notes and Shares in accordance with each prospectus.

As part of the Convertible Note Offer the Company has set aside a minimum of 20,000,000 Convertible Notes for shareholders on a priority basis. Included with this letter is your Priority Offer Application Form which you should use to apply for Convertible Notes to ensure your priority participation.

The Company does not have reasonable grounds at the date hereof to be able to determine if all interest throughout the term of the Convertible Notes will be able to be paid in cash 6 monthly in arrears as provided for in the terms of the Convertible Notes. The terms of the Convertible Notes allow the Company to choose to:

• (a) pay interest 6 monthly in arrears;

• (b) issue Shares in satisfaction of the payment of interest; or

• (c) defer the payment of interest until the third anniversary of the issue of the Convertible Notes.

The Company has not determined whether it will satisfy the interest obligations by the payment of interest or issue of shares or whether it will defer the payment of interest. The Company will make this decision at the various times at which interest is due under the terms of the Convertible Notes (6 monthly). Further information about the payment of interest is in Section 2(a) of the Supplementary Prospectus.

Your entitlement under the Pro-rata Share Offer is set out in the enclosed Entitlement and Acceptance Form which you should use to apply for shares under this Offer. You may also apply for shortfall shares under this Offer on this form.

You may apply for the securities on offer under either or both offers.

Please note the Closing Date for both the Convertible Note Offer and the Pro Rata Share Offer is 24 December 2008. Investors should read the prospectuses carefully before completing the applicable Form. Shareholders are encouraged to lodge their Forms as soon as possible. Should you wish to apply for both Offers you can forward a single cheque with both completed forms.

Despite the challenging market conditions, Resolute heads into the coming year with great confidence and looks forward to consolidating its position as one of Australia’s leading gold miners. On behalf of the Board of Resolute, I encourage you to share in this opportunity by supporting these important funding initiatives.

Yours faithfully

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PETER SULLIVAN Chief Executive Officer 10 December 2008

R ESOLUTE M INING L IMITED

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. P.O. Box 7232 Cloisters Square, Perth Western Australia 6850. Telephone: + 61 8 9261 6100 Facsimile: + 61 8 9322 7597 Email: contact@resolute-ltd.com.au