Resolute Mining Limited — Interim / Quarterly Report 2012

Apr 19, 2012

ACTIVITIES

OVERVIEW

EXPLORATION

OPERATIONS

Quarterly Production

• Total gold production for the quarter of 105,357 (95,668) ounces of gold was achieved at a cash cost of A$741 (A$777) per ounce.

• Production at Golden Pride in Tanzania for the quarter was 26,557 (27,589) ounces of gold at a cash cost of A$775 (A$698) (US$821:US$715) per ounce.

• Gold production at Ravenswood generated 36,968 (32,937) ounces at a cash cost of A$663 (A$795) per ounce.

• Production at Syama in Mali for the quarter was a record of 41,832 (35,142) ounces of gold at a cash cost of A$789 (A$822) (US$836:US$842) per ounce.

DEVELOPMENT

• GR Engineering Services completed the Syama Expansion and Sarsfield Feasibility Studies. Final documents have been submitted and will be appraised by the executive management team. Results will be reported following this review.

• Geotechnical consultants completed a site evaluation to provide pit design guidelines for the Syama expanded open pit.

• The Memorandum of Understanding for the proposed Sikasso-Syama power line connection was accepted by the relevant government agencies and submitted to Cabinet for final consideration. Ferkessedougou-Sikasso 225kV Grid Interconnection nearing completion.

• Geotechnical and metallurgical drilling was being completed within the Sarsfield expanded pit area.

• At Mt Wright drilling of deeper resource holes from the decline drill cuddy testing mineralisation below 600RL is underway.

Exploration drilling was carried out in Mali, Tanzania and Queensland while target definition work continued in Cote d’Ivoire.

• In Tanzania the intensive reverse circulation drilling programme which commenced in late 2011 continued in the March quarter. Results have been received for the first 100 holes with the first 24 reported last quarter. A large proportion of the infill and extension programme have returned significant gold intercepts. Of specific interest are the high grade intersections outside of the current published resources at Voyager and Mentelle. These include 27m @ 8.60g/t Au from 16m, 12m @ 9.10g/t Au from 91m and 19m @ 16.69g/t Au from 107m.

• In Mali, exploration concentrated on widespread air core drilling in a number of areas to generate new targets.

• In Queensland, a programme of deep diamond drilling of the down dip extensions of the previously mined Nolans gold deposit commenced. Six drill holes have been completed for 2,010m. Alteration and associated veining typical of the Nolans gold system was encountered in all holes. Assay results have been returned for the first two holes, with a broad (67m) low grade zone of gold mineralisation being very encouraging.

CORPORATE

• Group cash and bullion at the end of the quarter was A$116m (A$71m).

• Gross cash inflow from operations for the quarter was A$81m (A$78m).

• Initial purchases under the Share Buyback Program.

• Agreement to acquire Finkolo for US$20m.

• Production guidance FY2012 maintained.

P.R. SULLIVAN

Chief Executive Officer 20 April 2012

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REPORT ON ACTIVITIES
FOR THE QUARTER TO 31 MARCH 2012 2
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PRODUCTION SUMMARY

*Total Cost includes cash costs, depreciation and amortisation, royalties and in-country operational support costs.

	Ore	Ore	Head	Recovery	Plant	Total	Cash	*Total
	Mined	Milled	Grade	(%)	Availability	Production	Cost	Cost
	(t)	(t)	(g/t)		(%)	(Oz gold)	A$/oz	A$/oz
Golden Pride
Mar Quarter	517,088	546,774	1.65	91.6	92.3	26,557	775	869
Dec Quarter	468,349	503,689	1.85	92.4	93.6	27,589	698	816
Ravenswood
Mar Quarter	368,821	389,896	3.15	93.6	90.9	36,968	663	929
Dec Quarter	358,160	383,987	2.85	93.6	92.6	32,937	795	1,096
Syama
Mar Quarter	586,972	491,948	3.24	81.7	90.6	41,832	789	1,113
Dec Quarter	587,202	475,224	2.79	82.5	87.6	35,142	822	1,195
Total
Mar Quarter	1,472,881	1,428,618	2.60	88.1	91.3	105,357	741	987
Dec Quarter	1,413,711	1,362,900	2.46	88.9	91.2	95,668	777	1,052

OPERATIONS

GOLDEN PRIDE, TANZANIA (RESOLUTE 100%)

The Project had no lost time injuries for the quarter. The twelve-month moving average Lost Time Injury Frequency Rate was 0.63 (0.65).

Golden Pride produced 26,557 (27,589) ounces of gold from 546,774 (503,689) tonnes of ore at a head grade of 1.65 (1.85) grams per tonne and a recovery of 91.6% (92.4%). Ore processed for the period was higher due to an increased proportion of oxide ore within the mill feed, offset by a planned maintenance shutdown for partial relining of the SAG mill. The head grade was lower than expected as mining of high grade ore was delayed due to the poor availability of mining equipment. Cash cost of production was US$821 (US$715) for the quarter.

The higher cash cost per ounce resulted from lower gold production for the quarter.

Ore volumes mined were higher this quarter due to lower strip ratios in the mine although poor equipment availability of the mining contractor continues to hamper overall production of higher grade material.

Mining continued in the Southern Oxides and Western Cutback. Tailing storage facility No 2 was partially capped with waste from the Southern Oxides. Additional tailings will be deposited into this dam before final closure and capping later this year.

The processing plant throughput was again hampered this quarter by the hardness of ore from the main pit. Blending of higher grade oxide ore from the Southern Oxide pit assisted in improving plant throughput from last quarter. The mains power supply from the state owned distributor was intermittent causing numerous shutdowns of the circuit which continued to affect

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REPORT ON ACTIVITIES
FOR THE QUARTER TO 31 MARCH 2012 3
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throughput. The power supply problem will continue to be an issue in Tanzania for the medium term.

Ore production will increase during the next quarter with decreasing strip ratios in the Western Cutback and Southern Oxides. Introduction of an additional drilling contractor has assisted productivity in the deeper work areas.

Gold production in the next quarter is expected to improve with better availability of higher grade material.

RAVENSWOOD, AUSTRALIA (RESOLUTE 100%)

The Ravenswood operation had one lost time injury during the quarter. The twelve-month moving average Lost Time Injury Frequency Rate was 9.06 (6.43).

Gold produced during the quarter was 36,968 (32,937) ounces of gold from 389,896 (383,987) tonnes at a head grade of 3.15 (2.85) grams per tonne. Gold production increased this quarter due to higher than anticipated grade from Mt Wright assisted by both higher ore production and mill throughput. Gold recovery remained at 93.6% (93.6%) with the gravity circuit continuing to perform to expectations.

Cash cost per ounce of gold was A$663 (A$795) with the lower cash cost per ounce primarily due to increased gold production.

Total development for the Mt Wright underground operation for the quarter was 1,112m (1,174m). This consisted of 439m (358m) of capital development and 673 m (816m) of operating development. The slight decrease in total development advance was due to limited heading availability while establishing the 625 level and resources being used to complete the ancillary portal being developed for the new waste pass.

Ore production was 368,821 t @ 3.15g/t for 37,395 contained ounces (358,160 t @ 2.85g/t for 32,937 contained ounces). The Sub Level Shrinkage mining method continues to operate well with production coming from the 775, 750 and 725 levels.

Gold production in the June quarter is expected to be slightly lower due to lower head grade from Mt Wright.

SYAMA, MALI (RESOLUTE 80%)

The Syama operation had no lost time injuries during the quarter. The twelve-month moving average Lost Time Injury Frequency Rate at the end of the quarter was 0.4 (0.9).

Gold produced during the quarter was a record 41,832 (35,142) ounces from 491,948 (475,224) tonnes of ore at a head grade of 3.24 (2.79) grams per tonne. Gold recovery was slightly lower this quarter at 81.7% (82.5%) after being impacted by flotation cell wear which has been subsequently repaired. Commissioning of a new skim air unit to assist recovery will occur next quarter.

Gold production was again significantly above the previous quarter due to steadily improving plant performance. Further improvements in availabilities and throughputs contributed to the increase in tonnes milled during the quarter. The roaster continues to perform to expectations with no significant issues encountered during the quarter. The cash cost per ounce was similar this quarter at US$836 (US$842) with increased crushing costs associated with the replacement of the crusher screen in February.

Total material mined for the quarter was 0.77 (0.97) million BCM with production lower than last quarter due to equipment availability combined with reduced waste stripping requirements. Ore tonnages mined this quarter were similar to the previous quarter as the focus remained on meeting increasing mill throughputs.

Routine grade control activities again improved this quarter due to increased availability of drill rigs with 12,188 (9,471) meters of grade control drilling completed. Pumping of water from the workings progressed well this quarter, reducing the water level in the pit with the installation of an improved pumping system.

The milled head grade was higher this quarter reflecting the availability of higher grade material from the pit.

A key improvement to the crushing circuit was completed this period with the replacement of the crusher screen which, along with ongoing plant integrity work will further assist in improving throughputs and reliability.

Gold production in the June quarter is expected to increase as the effects of improved reliability and throughput continue to impact positively on the operation.

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REPORT ON ACTIVITIES
FOR THE QUARTER TO 31 MARCH 2012 4
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DEVELOPMENT

MALI

Syama Pit Expansion and Oxide Circuit (Resolute 80%)

Project managers GR Engineering Services completed the remaining sections of the Syama Expansion Project Feasibility Study. The Study assessed two parts of the Project which comprised of a parallel oxide processing circuit together with the expansion of the Syama open pit and associated infrastructure changes to the sulphide processing circuit. This report has been submitted and is being reviewed by the executive management team prior to external reporting.

A total of 1,286m of diamond drilling was completed during the quarter. The drilling comprised one geotechnical and three resource holes to further assist evaluations of the expanded Syama open pit area.

In January geotechnical consultants conducted a site visit to evaluate rock mass conditions for the expanded open pit design. Their review included an assessment of geotechnical diamond cores and structural mapping of the open pit. The analysis showed that ground conditions in the open pit were in line with expectation providing support for the proposed expanded pit design parameters. Some specific recommendations regarding design slope angles and bench heights will be incorporated into future pit designs. The consultants selected a range of core samples representing the main geological units in the pit for unconfined compressive strength test work. In addition, four geotechnical drill holes have been recommended to provide more detailed data for the western part of the expansion.

High Voltage Grid Connection to Syama (Resolute 80%)

The Memorandum of Understanding (MoU) was accepted by the relevant government agencies prior to the recent unrest in Mali and presented to the Cabinet for review and acceptance.

A transmission line survey from Sikasso to Syama commenced during the quarter. The chosen survey company has completed the angle survey with a detailed contour survey to be finished in the June quarter.

Visual inspection of the 225kV transmission line from Ferkessedougou in Cote d'Ivoire to Sikasso in Mali has confirmed that the line is proceeding on schedule

that should see it completed in the upcoming quarter. The Sikasso substation has been commissioned on secondary power but the official opening delayed due to the recent unrest in Mali.

An experienced local Environmental Consultant has been appointed and commenced work on the Environmental and Social Impact Study (EIES) for the proposed route.

Satellite Deposit Resource Evaluation (Resolute 80%)

At the Alpha deposit, 4km north of the Syama pit, optimisation work indicated potential for an open pit exploiting the recently defined oxide resources. Dedicated geotechnical cores were drilled to confirm ground conditions and enable parameters to be finalised for an open pit mine design. Similar assessment work was completed at the adjacent Beta deposit.

Updated reserve estimates for all satellite deposits in the Syama region will be included in the Syama Expansion Feasibility Study.

AUSTRALIA

Sarsfield Open Pit – Ravenswood (Resolute 100%)

Project managers GR Engineering Services completed the remaining study elements and documentation for the Sarsfield Feasibility Study. This report has been submitted for review by the executive management team prior to external reporting.

Technical studies from the various sub-consultants for the Environmental Impact Study remained on target. In total 27 reports have now been completed and submitted to Coffey Environmental who will compile the final document.

Two geotechnical holes designed by Coffey Engineering were completed on the north east side of the expanded pit design. The holes were designed to investigate and confirm ground conditions in the vicinity of the planned pit wall cutback. One resource hole extending to a final depth of 474m was drilled to intersect and evaluate mineralisation in the proposed cutback. Results are pending.

A series of step-out diamond holes was completed along the Nolans mineralisation strike zone adjacent to the Sarsfield pit. The data will be used to compile an updated ore body model for mine planning purposes.

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REPORT ON ACTIVITIES
FOR THE QUARTER TO 31 MARCH 2012 5
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Mt Wright Project (Resolute 100%)

Drilling of deep holes targeting additional resources below 600RL was in progress at the end of March. This drilling is designed to investigate the central portion of the rhyolite breccia with positive results to be utilised in the planning of further infill holes. Several months of drilling has been planned to investigate this 150m vertical panel of mineralisation with a view to extending future mining operations.

EXPLORATION

Exploration drilling continued in Mali, Tanzania and Queensland while target definition work continued in Cote d’Ivoire.

MALI

Exploration in Mali for the March quarter concentrated on widespread air core drilling in a number of areas to generate new targets. Limited reverse circulation and diamond drilling was carried out on a few prospects.

Syama Project (Resolute 80%)

Syama North

Regional air core was carried out on the western arm of the northern extensions of the Syama Formation in an area known as Bananso North. A total of 65 drill holes for 2,633m were completed.

Results have been received for all holes and highlighted an area of significant Au anomalism on the eastern edge of the mafic volcanic belt. Follow up drilling is planned for the next quarter.

Syama South

Regional air core was carried out at Cashew, Tuareg and Tellem West. A total of 85 drill holes for 4,386m were completed for the quarter.

Assay results are pending.

N'Golopene Joint Venture (Resolute earning 70%)

Air core drilling continued within the N’golopene joint venture permit. During the December quarter 50 drill holes for 2,271m were drilled over prospective Birimian greenstones. Results have been received for half of the holes with no significant intersections to date.

Borokoba Project (Resolute 100%)

A total of 126 air core drill holes for 4,346m were completed at Borokoba during the March quarter.

Two reverse circulation holes have been drilled at the Sokorani prospect where trenching identified a dyke returning 9m @ 0.45g/t (SKTR002). Reverse circulation chips show a felsic intrusive with abundant pyrite alteration. Magnetite is observed at the contact with basalts.

Assay results are pending.

COTE D’IVOIRE

The Cote d’Ivoire exploration team completed an infill multi-element soil sampling programme over the Goumere permit during the quarter. Results have been received for the majority of the infill soil geochemistry programmes from Toumodi and Goumere. A strong coherent Au anomaly has been outlined at Goumere with supporting anomalous pathfinder elements. Results from Toumodi similarly confirm the original Au in soil anomaly with supporting multi element pathfinder elements.

The majority of Resolute tenement applications in Cote d’Ivoire await formal granting. There are signs from the new government that approvals will commence soon giving Resolute a large area of very prospective unexplored Birimian rocks to explore.

TANZANIA

The extensive reverse circulation drilling at the Nyakafuru Project which commenced last quarter continued throughout the March quarter.

Tiagole Project (Resolute 100%)

Air core drilling was undertaken at the Tiagole project, following up induced polarisation survey anomalies identified last quarter. A total of 76 drill holes for 3,750m have been completed to date.

Assay results are pending.

Kanegele JV (Resolute 65%)

Reverse circulation drilling continued at the Mentelle and Voyager Prospects located at Kanegele, 13km SSE of Nyakafuru. During the March quarter 81 drill holes for 11,696m have been completed.

Results have been received for the first 100 drill holes (VMRC0001-VMRC0100) with the first 24 reported last quarter. A large number of significant intersections

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REPORT ON ACTIVITIES
FOR THE QUARTER TO 31 MARCH 2012 6
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have been received from this infill and extension drilling programme, which are presented in Table 1.

Of particular interest are some high grade intersections which are outside of the current published resource at Voyager and Mentelle. These include 27m @ 8.60g/t Au from 16m in VMRC0058, 12m @ 9.10g/t Au from 91m in VMRC0082 and 19m @ 16.69g/t Au from 107m in VMRC0088.

These intersections have the potential to increase the current resource at these prospects.

AUSTRALIA

Diamond drilling and soil sampling was completed on several target areas during the quarter.

Mingela Project (Resolute 100%)

Welcome Breccia / Welcome Surrounds / Milnes Reward (40km NW of Ravenswood)

Gold assay results from WED038, a newly identified alteration zone 200m south west of the Welcome Breccia Pipe were generally disappointing. A number of low grade zones were seen in the top 200m of the hole which correspond to the upper portions of the main breccia pipe, the deeper intersections into the new zone gave a best result of 4m @ 1.67g/t Au from 557m.

Diamond drilling continued during the quarter testing the down dip extensions of the Welcome Breccia Pipe (WED039) and an induced polarisation chargeability anomaly 900m southwest of the Welcome Breccia Pipe (WED040).

WED039 intersected the down plunge mineralisation in the breccia pipe at the expected position however the results were below expectations with 5m @ 5.16g/t Au from 485m the best result.

Although encouraging, intense alteration seen in WED040 did not return any significant Au intersections.

All results are presented in Table 2.

Results have been received for the first two holes with a very encouraging 67m zone of low grade mineralisation reported in ND446 - see Table 3.

Results of the remaining four holes are pending.

Mt Success Project (Resolute 100%)

Mount Douglas Prospect (70km NE of Ravenswood)

The Department of Defence acquisition of the Fanning River Station, which covers the Mt Douglas and some of the Mt Success projects, has delayed exploration drilling. Discussions with the Department of Finance and Deregulation on the Access agreement are ongoing with a timeframe for resolution for access unknown at this stage.

Golden Valley / Mt Success (60km NW of Ravenswood)

The transfer of MDL257 (Golden Valley) to Carpentaria Gold was completed during the quarter. Drilling is planned to commence on the Golden Valley breccia target in April.

CORPORATE

CASH BALANCES AND MOVEMENTS

As at 31 March 2012, the Resolute Group had cash and bullion with a market value of A$116m (December 2011: A$71m). Included in the quarter end balance was 28,629 ounces of gold bullion on hand, with a market value of A$46m.

The principal movements in the market value of cash and bullion balances during the quarter were attributable to:

Operating Cash Flows

• Gross cash inflows from operations at Syama, Golden Pride and Ravenswood of A$80.7m.

• Cash outflows for royalty payments of A$7.6m.

Ravenswood Project (Resolute 100%)

Nolans

A programme of deep diamond drilling of the down dip extensions of the previously mined Nolans gold deposit commenced during the quarter. Six drill holes (ND446 to ND451) were completed for 2,010m. Alteration and associated veining typical of the Nolans system was encountered.

• Insurance, overheads and operational support costs were A$1.1m.

• Operational capital expenditure, including A$2.6m of Mt Wright underground decline development, totalled A$7.7m.

• A tax payment of A$2.1m was made in Tanzania for a quarterly provisional instalment for the year ending 30 June 2012.

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REPORT ON ACTIVITIES
FOR THE QUARTER TO 31 MARCH 2012 7
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• Rehabilitation and restoration work performed cost A$0.8m.

• Net working capital outflows were A$1.3m.

Investing Cash Flows

• Exploration expenditure of A$4.3m.

• Development expenditure of A$3.8m.

• Other investing outflows of A$0.3m.

Financing Cash Flows

• Net outflow of interest expense/income of A$4.1m, including the last interest payment made to convertible note holders in early January 2012.

• Net outflow of share buy backs / proceeds from the exercise of Resolute share options was A$1.7m.

• A net drawdown of A$0.3m was made on debt facilities.

• Foreign exchange differentials on cash balances caused a A$0.6m outflow.

BORROWINGS

At 31 March 2012, Resolute’s total borrowings were A$11m (A$11m at 31 December 2011). As at quarter end, the weighted average interest rate payable on the borrowings at that date was 7.8%.

At quarter end, Resolute had approximately US$7m of unused credit on its existing credit facilities.

GOLD SALES

The average cash price received on the 70,827 ounces of gold sold during the quarter was A$1,611 per ounce. The Company has elected to hold a significant portion of surplus cash/bullion in the form of bullion. This has delayed the recognition of revenue/profit on a portion of the ounces produced during the quarter. Revenue and profit are only recognised when gold is sold. The deferral of gold sales and profit recognition is a timing issue only that will be reversed in future quarters when gold sold exceeds gold produced, but will impact the current and future year profit results to the extent that gold produced differs from gold sold. In accordance with International accounting standards, bullion held at the end of the quarter has been recorded in the Company’s accounts at its historical cost of A$25m.

CAPITAL MANAGEMENT

Pursuant to the previously announced share buyback plan, Resolute bought back 1.845m shares in the March quarter. Additional shares have been bought back subsequent to quarter end.

FINKOLO ACQUISITION

During the quarter, Resolute entered into a sale and purchase agreement to acquire the 40 per cent interest of its partner, Endeavour Mining Corporation in the Finkolo Joint Venture in Mali.

The purchase is by way of a cash payment of US$20 million to be paid to Endeavour by Resolute and is subject to the consent of the Minister of Mines in Mali.

The Finkolo Joint Venture covers the area within the Finkolo and N'Gokoli Exploration Permits and includes the Tabakoroni deposit which contains a total 608,000oz (Measured and Indicated) and 219,000oz (Inferred) gold resources located 40km south of the Syama processing plant.

The Finkolo permit is contiguous with Resolute’s Syama mining permit that hosts the 5.3Moz Syama Gold Operation.

PRODUCTION GUIDANCE

In order to achieve the Company’s production guidance of 410,000 ounces at a cash cost of $730 per ounce for FY2012, further operational improvement will need to be achieved in the June quarter. Resolute expects June quarter performance to exceed that of the March quarter however achieving this guidance is now a stretch target.

MALI POLITICAL SITUATION

During the quarter the Malian military intervened in the government of the country and suspended the Constitution. Subsequently it has been reinstated and following the resignation of President Amadou Toumani Toure a new President, under the Constitution, being the President of the National Assembly (Dioncounda Traoré) has been appointed.

The new President will nominate a new Prime Minister who will have the mandate to organize the Presidential elections within 40 days. No date has been set for the elections. Syama is approximately 300km to the south east of the capital Bamako and these events have not had any material impact on the Syama operations.

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REPORT ON ACTIVITIES
FOR THE QUARTER TO 31 MARCH 2012 8
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Table 1: Voyager – Mentelle Reverse Circulation Drilling (Tanzania) – Significant Results

Hole ID	Coordinates	Coordinates	Dip	Azi	Intercept (m)	Intercept (m)	Intercept	Grade
	North (m)	East (m)	(°)	(°)	**From **	To	width (m)	(g/t Au)
VMRC0026	9592683	418594	-51	143	12	36	24	16.57
including					13	15	2	184.00
and					41	56	15	1.39
and					63	86	23	0.94
and					90	147	57	1.22
VMRC0027	9592701	418583	-51	140	28	51	23	1.05
and					71	94	23	1.09
and					98	118	20	1.11
and					122	150	28	1.15
VMRC0028	9592649	418565	-51	141	31	51	20	2.27
and					66	84	18	1.49
VMRC0029	9592631	418579	-52	141	14	24	10	1.81
and					51	72	21	0.72
VMRC0030	9592617	418594	-51	142	32	47	15	1.74
VMRC0034	9592674	418346	-60	141	84	91	7	2.70
VMRC0035	9592643	418371	-52	143	15	17	2	24.73
including					16	17	1	47.80
VMRC0037	9592681	418390	-51	142	68	73	5	44.99
including					69	70	1	220.00
and					95	104	9	3.06
VMRC0042	9592692	418486	-50	140	49	69	20	0.94
and					77	90	13	3.59
and					108	129	21	1.64
VMRC0045	9592738	418703	-52	139	10	45	35	0.81
VMRC0051	9592653	418716	-51	142	49	61	12	1.44
VMRC0053	9592756	418832	-51	140	15	34	19	0.74
and					52	59	7	1.77
VMRC0054	9592745	418897	-51	142	14	42	28	1.36
VMRC0057	9592753	418790	-52	141	16	23	7	2.39
and					40	60	20	1.59
VMRC0058	9592775	418774	-52	142	16	43	27	8.60

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REPORT ON ACTIVITIES
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Hole ID	Coordinates	Coordinates	Dip	Azi	Intercept (m)	Intercept (m)	Intercept	Grade
	North (m)	East (m)	(°)	(°)	**From **	To	width (m)	(g/t Au)
including					39	42	3	63.30
and					67	85	18	0.61
VMRC0060	9592773	418822	-51	142	31	77	46	1.22
VMRC0062	9592807	418800	-51	142	134	148	14	0.93
VMRC0069	9592823	418881	-51	142	94	99	5	5.92
VMRC0073	9592960	419180	-56	142	38	40	2	9.24
VMRC0075	9592918	419162	-56	142	43	53	10	2.01
VMRC0076	9592957	419135	-55	142	73	79	6	1.91
VMRC0078	9592876	419195	-56	142	5	10	5	2.60
VMRC0079	9592854	419165	-55	142	11	69	58	1.88
and					79	87	8	1.95
VMRC0080	9592878	419139	-61	142	30	42	12	1.38
and					79	112	33	2.01
VMRC0081	9592908	419118	-61	142	69	124	55	2.01
including					106	107	1	35.20
VMRC0082	9592924	419106	-61	142	91	103	12	9.10
including					91	92	1	90.80
and					107	124	17	1.08
VMRC0085	9592797	419206	-56	142	7	26	19	1.57
VMRC0086	9592812	419195	-56	142	4	43	39	0.96
VMRC0087	9592812	419138	-56	142	26	72	46	1.20
and					82	85	3	4.19
VMRC0088	9592939	419091	-56	142	107	126	19	16.69
including					108	110	2	103.00
and					116	117	1	56.60
and					132	168	36	1.53
VMRC0089	9592868	419100	-55	142	85	105	20	1.44
VMRC0090	9592886	419086	-55	142	83	109	26	1.13
and					123	137	14	1.25
and					147	165	18	1.93
VMRC0091	9592807	419097	-55	142	55	76	21	2.80
including					70	71	1	33.40
and					80	88	8	1.33

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REPORT ON ACTIVITIES
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Hole ID	Coordinates	Coordinates	Dip	Azi	Intercept (m)	Intercept (m)	Intercept	Grade
	North (m)	East (m)	(°)	(°)	**From **	To	width (m)	(g/t Au)
VMRC0092	9592824	419084	-55	142	29	40	11	1.33
and					118	138	20	0.94
VMRC0093	9592854	419061	-55	142	130	158	28	3.27
and					164	179	15	1.34
VMRC0094	9592731	419099	-55	142	20	37	17	0.82
VMRC0095	9592764	419076	-56	142	14	25	11	1.22
and					119	126	7	1.40
VMRC0096	9592780	419065	-56	142	26	53	27	3.62
including					39	40	1	46.10
VMRC0097	9592812	419043	-55	142	18	48	30	1.67
VMRC0098	9592815	419040	-56	142	26	54	28	0.84
and					87	129	42	0.95
and					149	164	15	1.67
VMRC0099	9592834	419027	-56	142	110	123	13	1.04
and					141	167	26	2.02
VMRC0100	9592850	419015	-56	142	188	190	2	14.08

*ARC60 Zone 36S, 0.5 lower cut, max 3m internal waste, no upper cut, only >10gxm reported,

*includes zones will all samples >30g/t.

Table 2: Welcome Breccia Diamond Drilling (Australia) – Significant Results

Hole ID	Coordinates	Coordinates	Dip	Azi	Intercept (m)	Intercept (m)	Intercept	Grade
	North (m)	East (m)	(°)	(°)	**From **	To	width (m)	(g/t Au)
WED038	7800346	457278	-60	171	86	89	3	2.47
and					158	173	15	1.51
and					188	195	7	2.66
and					557	561	4	1.67
WED039	7800460	457375	-76	201	485	490	5	5.16
and					570	579	9	0.84
and					586	594	8	2.28

• AMG84 Zone 55, 0.5g/t lower cut, max 2m internal waste, no upper cut, only >5gxm reported.

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REPORT ON ACTIVITIES
FOR THE QUARTER TO 31 MARCH 2012 11
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Table 3: Nolans Deeps Diamond Drilling (Australia) - Significant Results

Hole ID	Coordinates	Coordinates	Dip	Azi	Intercept (m)	Intercept (m)	Intercept	Grade
	North (m)	East (m)	(°)	(°)	**From **	To	width (m)	(g/t Au)
ND446	7776228	489598	-60	218	193	209	16	1.48
and					214	219	5	2.36
and					230	246	16	1.32
and					253	260	7	0.77

• AMG84 Zone 55, 0.5g/t lower cut, max 4m internal waste, no upper cut, only >5gxm reported

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REPORT ON ACTIVITIES
FOR THE QUARTER TO 31 MARCH 2012 12
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CORPORATE	DIRECTORY
SENIOR MANAGEMENT		REGISTERED AND PRINCIPAL OFFICE
		4th Floor, BGC Centre
P.R. Sullivan	Chief Executive Officer	28 The Esplanade
		Perth, WA, Australia, 6000
P.A. Beilby	Operations	Tel: 61 8 9261 6100
		Fax: 61 8 9322 7597
P.J. Venn	Business Development	Web: www.rml.com.au
G.W. Fitzgerald	Finance/Admin and	HOME EXCHANGE
	Company Secretary	The Company’s securities are listed on the
		Australian Securities Exchange and the home
		exchange is Perth
J. Ray	Operations Manager
	Ravenswood, Queensland	SHAREHOLDER ENQUIRIES
		Enquiries concerning shareholdings should be
L. Taylor	Operations Manager	addressed to:
	Syama, Mali	Security Transfer Registrars Pty Ltd
		PO Box 535, Applecross, WA 6953
D. Fairlie	Operations Manager	Australia
	Golden Pride, Tanzania	Tel: 61 8 9315 2333
		Fax: 61 8 9315 2233
		Email: registrar@securitytransfer.com.au

The information in this report that relates to the Mineral Resources and Ore Reserves is based on information compiled by Mr Richard Bray who is a Registered Professional Geologist with the Australian Institute of Geoscientists and Mr Iain Wearing, a member of The Australian Institute of Mining and Metallurgy. Mr Richard Bray and Mr Iain Wearing both have more than 5 years experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person, as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Richard Bray and Mr Iain Wearing are full time employees of Resolute Mining Limited Group and have consented to the inclusion of the matters in this report based on their information in the form and context in which it appears.

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