Resolute Mining Limited — Capital/Financing Update 2018

Oct 28, 2018

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29 October 2018

Resolute adds to US$ gold hedges 30,000 ounces forward sold at US$1,250/oz

Resolute Mining Limited (Resolute or the Company) (ASX: RSG) announces that it has forward sold an additional 30,000 ounces of gold in scheduled monthly deliveries of 5,000 ounces between January 2019 and June 2019 at an average price of US$1,250 per ounce .

Resolute has taken advantage of strength of recent US$ gold price volatility to add to the Company’s US$ gold hedge positions. The objective of this hedging is to secure US$ revenues from Resolute’s Syama Gold Mine in Mali (Syama) during the ramp-up phase of the Syama Underground Mine.

The additional 30,000 ounces of forward sales extend the existing US$ hedge positions established in September 2017 of monthly deliveries of 6,000 ounces at US$1,330 per ounce which run to December 2018 (see ASX Announcement dated 1 September 2017).

Resolute’s total gold hedge book as at 29 October 2018, including today’s new US$ gold hedges, consists of 115,000 ounces of gold out to December 2019 representing approximately 26% of Resolute’s expected gold production over this period.

Managing Director and CEO, Mr John Welborn, was pleased to continue Resolute’s success in maximising gold sales revenue through responsible hedging strategies:

“Establishing some US$ gold price certainty at these levels is a prudent economic decision as we enter the rampup phase of the Syama Underground Mine. Syama provides exposure to US$ capital and operational expenditure and our hedging program provides a level of certainty to the Company’s future cashflows and project returns.

“Resolute remains strongly leveraged to gold prices with our current hedge position representing less than 2% of our gold Ore Reserves. Resolute’s gold hedge book now stands at 115,000 ounces of gold forward sold at an average price of approximately A$1,756 per ounce (US$1,247 per ounce)[(1)] .”

Note (1): assumes US$ gold hedges converted to AUD at exchange rate of 0.71.

For further information, contact:

John Welborn

Managing Director & CEO

Jeremy Meynert

General Manager – Business Development & Investor Relations

ASX:RSG Capital Summary Board of Directors Contact Fully Paid Ordinary Shares: 757,512,088 Mr Martin Botha Non-Executive Chairman John Welborn Managing Director & CEO Current Share Price: Mr John Welborn Managing Director & CEO Jeremy Meynert GM – BD & IR A$1.05, 26 October 2018 Mr Peter Sullivan Non-Executive Director Level 2, Australia Place | 15-17 William St Market Capitalisation: Mr Mark Potts Non-Executive Director Perth, Western Australia 6000 A$795m Ms Yasmin Broughton Non-Executive Director T: +61 8 9261 6100 | F: +61 8 9322 7597 FY19 Guidance: Ms Sabina Shugg AM Non-Executive Director E: contact@rml.com.au 300,000oz @ AISC US$960/oz (A$1,280/oz)

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