Resolute Mining Limited — Capital/Financing Update 2010

Apr 14, 2010

RESOLUTE MINING

LIMITED

HIGH GRADE GOLD DISCOVERY- RAVENSWOOD

• Mount Wright style gold discovery at the Ravenswood Gold Project in North Queensland,Australia

• High gold grades at Welcome Breccia in drill hole WED003:

113m @ 7.70g/tAu from 316m depth including 19m @ 31.30g/tAu

• First three diamond drill holes intersect broad zones of gold mineralisation within a strongly altered breccia pipe and associated quartz veining including visible gold

• Gold mineralisation remains open at depth with width and grade increasing down plunge

• Drilling to test the depth extension of this mineralisation to commence shortly

• Geophysical techniques will test for additional sulphide bearing breccia pipes in the region

Resolute Mining Limited (ASX:RSG) is pleased to announce that it has intersected high grade gold mineralisation at its Welcome Breccia prospect, 40km north-west of the company's Ravenswood gold mine in North Queensland,Australia.

The highlight of the first pass three hole diamond drill program was an intercept of 113m @ 7.70g/t Au from 316m , including 19m @ 31.30g/t Au from 403m in the third and deepest hole (WED003). Other significant results included 18m @ 3.92g/tAu from 215m and 19m @ 4.52g/tAu from 359m in WED001.Atable of all significant intercepts and a plan and cross section of the drilling is included in this announcement.

Welcome Breccia is located within the Welcome Mining Lease which forms part of a Joint Venture with local company Denjim Pty Ltd. Resolute has the right to earn an initial 80% interest by spending A$1M over a 24 month period. The prospect was previously mined as a shallow open pit to a depth of 25m. On recognition of the geochemical and geophysical similarities to Resolute's 100% owned Mt Wright deposit, exploration to test for depth extensions at Welcome was initiated.

Gold mineralisation at Welcome is focused in and around a vertical granodiorite breccia pipe. In both WED001 and WED002 the mineralisation intercepted is associated with steeply dipping concentric quartz vein arrays surrounding a lower grade breccia. WED003 intercepted the peripheral quartz vein array at around 300m below surface, which continued into the breccia system resulting in exceptionally high grade gold mineralisation. The current results indicate that the width and grade of gold mineralisation is increasing with depth.

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RESOLUTE MINING LIMITED

The mineralisation appears to be plunging steeply to the northeast into a magnetic low and remains open at depth. Further diamond drilling is planned to test for additional high grade mineralisation below WED003 as well as defining the overall dimensions of the deposit, whilst deep IP is being planned to test for additional sulphide bearing breccia pipes in the immediate region.

“ This is a significant discovery for our Ravenswood Operation and we look forward to the results from further drilling ” commented Resolute’s CEO, Peter Sullivan.

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PETER SULLIVAN Chief Executive Officer 15 April 2010

Resolute Mining Limited

4th Floor, The BGC Centre 28 The Esplanade Perth, Western Australia 6000 Tel: 61 8 9261 6100 Fax: 61 8 9322 7597 contact@rml.com.au

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RESOLUTE MINING LIMITED

00200mN	WED001	WED001			00400mN WED00	00400mN WED00	00400mN WED00	WED003	WED003	WED003			00600mN	00600mN
8	RL Existing Pit				8 2								8
7 200m					7								7
								g/t Au g/t Au					� � Raven (4.6M Welc Charters Towers (6.6Moz*)
					22m @ 1.37			g/t Au
					31m @ 0.77			g/t Au
000m	RL							/t Au			/t		� � Pajingo (3.5Moz*) Mt Leyshon (3.2Moz*)
					18m @ 3.92g
					113m incl 1
						113m incl 1		@ 7.70g/t Au 9m @ 31.30g			/t
20m 19m	@ 1.02g/t Au @ 4.52g/t Au										* - Pre-mining Reserves and re**		* - Pre-mining Reserves and re**
									457200mE 7800400mN			457300mE WED
-200m	RL				Quartz vei alteration			ned halo
									7800300mN WED Gran brec			0 odiorite cia pipe ~~Magnetic low~~ boundary
					Granodi breccia
								orite pipe	7800200mN			01 Q alt
Hole ID		Coordinates (AMG84 Z55)					Dip			Azi	Intercept(m) Interce
		North(m)		East(m)			(°)			(°)	From			To Width(
WED001		7800279.8		457203.65			-70.1			84.6	215			233 18
										and	246			255 9
										and	272			273 1
										and	330			350 20
										and	359			378 19
WED002*		7800374.75		457330			-60			200.5	144			166 22
										and	173			181 8
										and	201			232 31
WED003		7800420		457357			-72			197	311			313 2
										and	316			429 113
										including	401			420 19
										and	438			446 8

• 0.5g/t lower cut, max 2m internal waste, no upper cut

• 0.2g/t lower cut, max 3m internal waste, no upper cut