Resolute Mining Limited — Capital/Financing Update 2012

Jul 9, 2012

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• 10 July 2012

GOLD PRODUCTION TO INCREASE IN 2012-13

• Group gold production forecast to rise by 4% to 415,000oz in 2012-13 from current year

• Group cash costs in 2012-13 forecast to be $830/oz

• Continued growth at Syama more than offsets expected run down at Golden Pride

• Syama expansion underway and expenditure fully funded

• Robust unhedged cashflow and ungeared balance sheet enable Resolute to drive growth opportunities and improve shareholder returns

Resolute Mining Limited (ASX: RSG, “Resolute”) is pleased to provide its Group gold production and cash cost guidance for the coming 2012-13 year.

Gold production in the coming year is forecast to increase to 415,000 ounces at a

cash cost of $830 per ounce.

This forecast places Resolute among the largest primary listed gold producers on the Australian Securities Exchange and represents an increase in unaudited, 2011-12 year gold production of 398,452 ounces at unaudited cash costs of approximately $750/oz. Cash costs in the coming year will be impacted by increases in input costs, including labour cost increases at all operations, the effects of the carbon tax on the Ravenswood operation, commencement of a large waste stripping program at Syama and treatment of low grade stockpiles at Golden Pride.

Resolute’s continued improvement in outlook is underpinned by ongoing progress being achieved at the flagship Syama operation in Mali. Plant throughput and head grades are expected to continue to improve over the period, resulting in another lift in production. This more than offsets the lower production from Golden Pride as the operations wind down over the year.

Resolute Chief Executive Officer Peter Sullivan said: “Our robust operational cashflow and strong balance sheet allows us to internally fund a major expansion at Syama, drive our exploration programmes harder and examine other growth opportunities while considering direct returns to our shareholders.”

In the coming year Resolute will advance works on the Syama expansion which will include the award of a new mining contract and commencement of construction of a new oxide circuit and associated infrastructure.

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Work will also commence on installation of the grid power connection at Syama which will deliver significant cost savings and other operational benefits.

At Ravenswood in Queensland further optimisation work will be undertaken following the outcomes of the Sarsfield Feasibility study. The obtaining of regulatory approvals for this project is expected to be completed during the period. Development drilling to extend the depth of the Mt Wright ore body will also continue.

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PETER SULLIVAN

Chief Executive Officer

About Resolute:

Resolute is an unhedged gold miner with three operating mines in Africa and Australia. The Company is the second largest gold producer by volume listed on the ASX. Resolute is targeting an increase in production from its flagship Syama project in Mali to 270,000oz of gold a year following an approved expansion. At its Ravenswood mine in Queensland Resolute is investigating a number of opportunities to add value by increasing gold production and lowering operating costs. The Company controls an extensive footprint along the highly prospective Syama Shear and Greenstone Belts in Mali and Cote d’Ivoire. Resolute has also identified a number of highly promising exploration targets at its Ravenswood operations and holds a number of exploration projects in Tanzania surrounding its Golden Pride mine.

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