Resolute Mining Limited — Capital/Financing Update 2010

Sep 19, 2010

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EQUITY RAISING AND REMOVAL OF GOLD HEDGES

Resolute Mining Limited is pleased to announce that it has successfully completed an equity raising of A$40 million. The net proceeds from this raising will primarily be applied to the close out of Resolute’s gold hedge book with the balance used for working capital and general corporate purposes.

Resolute has received approval from its hedge book counterparties, Barclays Capital and Investec, to neutralise, through forward gold purchases, the portion of the hedge book not closed out with the proceeds from the equity raising.

As a result, Resolute will become effectively unhedged and fully exposed to gold price movements.

The equity proceeds were raised through a combination of an institutional placement and exercise of existing listed options (ASX:RSGO). A total of approximately 11.8 million shares were issued at A$1.24 per share under the placement and approximately 42.4 million options were exercised at a price of A$0.60 per option.

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Resolute’s CEO, Peter Sullivan said “the removal of the hedge book will provide us with full gold price exposure and is expected to significantly improve our operating cash flow as we continue to grow our business.”

Resolute was advised by Morgan Stanley Australia Securities Limited who also acted as underwriter to the raising.

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PETER SULLIVAN

Chief Executive Officer

4th Floor, The BGC Centre 28 The Esplanade Perth, Western Australia 6000 P.O. Box 7232 Cloisters Square, Perth Western Australia 6850 Tel: 61 8 9261 6100 Fax: 61 8 9322 7597 E-mail: contact@rml.com.au www.rml.com.au