Resolute Mining Limited — Investor Presentation 2009

Sep 14, 2009

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ASX ANNOUNCEMENT

CHIEF EXECUTIVE OFFICER PRESENTATION

Attached is a copy of the Chief Executive Officer’s presentation to be given at the Denver Gold Forum today.

For and on behalf of the Board

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GREG FITZGERALD Company Secretary

15 September 2009

Resolute Mining Limited

DENVER GOLD FORUM September 2009

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About Resolute Mining

• Experienced developer and operator of gold projects

• African portfolio focus, projects in Mali and Tanzania, also Australia

• Three Operating Mines

• Group FY’09 Production of 300,000 ounces forecast to grow to ~400,000 ounces in FY’10

• Current Total Reserves and Resources ~12m ounces

• Solid Platform for Further Growth

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Growing Production Profile

• Syama (Mali) – Production ramp-up underway

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600
500
400
300
200
100
0
2009 2010 2011 2012
(A) (F) (F) (F)
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• Mt Wright / Ravenswood (Australia ) – Increased Focus on Mt Wright underground

• Golden Pride (Tanzania) – Deeper Ore available

• Organic production growth profile

• Significant reserves and resources proven coupled with excellent exploration potential

Syama Mt Wright Sarsfield Golden Pride

• Production growth over next three years towards 500,000 ounces pa

(A) Actual (F) Forecast

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Resource Profile

Reserves & Resources

Reserves	Equity	Mt	Au g/t	Au koz
Golden Pride	100%	7.1	1.7	393
Mt Wright	100%	0.9	2.8	77
Sarsfield	100%	6.2	0.6	120
Syama	80%	16.9	3.0	1,626
Total		31.1	2.2	2,216
Resources	Equity	Mt	Au g/t	Au koz
Golden Pride	100%	25.9	1.7	1,404
Mt Wright	100%	7.3	3.3	794
Sarsfield	100%	25.1	1.1	902
Syama	80%	37.8	2.5	3,085
Regional ~~1 Attributable Ounces~~	60-100% ~~30 June 2009~~	35.7	1.7	1,943
Total ~~. ,~~ 2. Resources excludes 3. Includes Low Grade	Reserves stockpiles at eac	131.8 h site	1.9	8,128

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Syama Gold Mine - Mali

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Syama Gold Mine – Overview

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• Major Asset of Resolute ( Resolute 80%, Mali Govt 20%)

• Located in southern Mali

• Emerging gold belt

• Over 6 million ounces in Reserves and Resources

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•
Production of 250,000+ ozs pa @ US$480/oz
• Potential for 10+ Year Operation
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Syama Gold Mine – Current Status

• Treatment Circuit Validated

• Commissioning Ramp Up Phase

• Gold Production

• June 4,000 ozs

• – July 7,000 ozs

• – August 4,144 ozs

• Mining Ramped Up

• Plant Optimisation over next 12 months

• Excellent exploration and advanced development opportunities around Syama

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Syama Gold Mine – Free Milling Upgrade

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A21 - Quartz Vein Hill
Oxide mineralisation
over 6 km of strike
• Add Free Milling Circuit
A21 185,000oz reserve
(2.0mt@2.9g/t)
• Targeting 1 – 1.5 mtpa Oxide
A21 & QVH 601,000oz Feed
resource
• Deliver extra 80 – 100 kozs pa
Main Pit
• Incremental Capex
• FS Completion by 3Q 09
Basso Areas
10 km of unexplored strike
Oxide mineralisation at
Tellem and Drag Queen
Prospects
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Syama Gold Mine – Underground Scoping Study

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• Resource of +3.0m ozs below pit

• In-wall ramp extended to decline

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• Infill drilling required to further stope design
• Connection to grid power
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Syama Gold Mine – Finkolo JV Feasibility

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• Resolute 60%:Etruscan 40%

• Extends Resolute control to over 75 km of a under explored and very prospective gold belt

• Tabakoroni Resource 825,000 ounces

• Feasibility commenced on best development option

• FS Completion by 2H09

Regional Aeromagnetics and Prospects

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Ravenswood Gold Mine – Queensland Australia

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Ravenswood Gold Mine – Overview

• Located approximately 95kms south west of Townsville in north east Queensland

• Resolute holds a 100% interest in the project

• Over 1 million ounces in Reserves and Resources

• FY’09 production yielded 151,913 ozs @ Cash Cost A$762/oz

• Sarsfield low grade Stockpiles treated through to June 10

• Mt Wright ore production and underground development increasing

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• Focus on reducing cash costs
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Ravenswood Gold Mine – Mt Wright

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• Based on 0.9 Moz resource

• Decline Progress over 550m Vertical

• Development Drilling Confirms Orebody Model

• Grade Improves with Depth

• Production target 1.0mpta @3.5g/t for ~100,000 ozs pa for 5 years

• Cash Costs ~ A$600/oz

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Ravenswood Gold Mine – Mt Wright Depth Potential

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• Brecciated Rhyolite Pipe
• No Drilling Below 800m
• Successful Drill Test of Further 300m Depth
• Scope to Significantly Increase Resource
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Ravenswood Gold Mine – Exploration Targets

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• Tenure >1000 sq kms
• Focus on Mt Wright
Style targets
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Golden Pride Gold Mine – Tanzania

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Golden Pride Gold Mine – Overview

• Located in Tanzania, East Africa approximately 200kms south of Lake Victoria

• Resolute holds a 100% interest in the project

• 400,000 ounces in Reserves

• FY’09 production yielded 127,047 ounces @ Cash Cost US$488/oz

• Mining to New Pit Design, estimated 3-4 Year Production Life

• Mine Planning for near pit deposits

• Exploration focus for longevity

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Golden Pride Gold Mine – Regional Exploration

• Focus on targets along strike to the east of pit

• • Kavsav (8 km east of pit) promising

• Consolidating tenure around Golden Pride and exploring under shallow cover with new exploration tools 18

Golden Pride Project – Nyakafuru

• Nyakafuru

• 100% owned

• 1.1m resource ounces

• 120kms east of Golden Pride

• Review of Development Options

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Resource Growth

Exploration

• Strong commitment to exploration focusing on adding value to existing assets

• US$10 million budgeted exploration spend for FY’10

• Focus on very prospective near mine tenure by expanding resources around the Company’s existing operations in Mali, Tanzania and Queensland

• Focusing on cost effective addition of ounces

Acquisition

• African Operating base

• Advanced Projects and Existing mines

• Sector Consolidation

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Corporate Summary

Capitalisation

• Issued Shares (ASX: RSG): 352 million

• Issued Options (ASX: RSGO): 80 million

• • 6 Mth Share Price Range: A$0.85 – $0.37 • Market Cap: A$250 million

Board of Directors

• Peter Huston

• Peter Sullivan

• Tom Ford

• Bill Price

Non Exec Chairman Managing Director Non Executive Director Non Executive Director

Debt

• Secured US$44.0 million

• • Convertible Notes A$51.7 million • Other A$14.1 million • Deferred Put Premium US$7.0 million

Major Shareholders

• Alliance Life Common Fund 39.9%

• • Baker Steel 8.5% • Acorn Capital 6.5%

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Vol ('000) RSG - 2 Year Share Price and Volume Price ($)
10,000 3.00
2.50
8,000
2.00
6,000
1.50
4,000
1.00
2,000 0.50
0 0.00
M ar-07 Jun-07 Sep-07 Dec-07 M ar-08 Jun-08 Sep-08 Dec-08 M ar-09
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Hedging

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450
400
350
300
250 Production
200 Hedging
150
100
50
0
2009 2010 2011
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• Hedge Book ~12% of Reserves

• Run Off Existing Hedge Book

• 2yrs, ~ 25 % of Production

• Primarily $A Gold Forwards, A$726/oz

• Price Protection with Put Options

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Comparative Value

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$600
$500
$400
$300
$200
$100
$0
Adjusted Market Capitalisation/ Reserve Oz
Source: BMO Gold Pages 21 August 09 Intermediate Producers
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Eldorado Gold LihirRedbackIamgold AlamosSino GoldGammon SemafoPeter HambroAurizonCenterraKinsgateOceanaGolden StarResolute MiningPeer Average
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Investment Summary

• Strong gold production with an expected 400,000 ozs production in FY’10

• Quality asset portfolio with excellent exploration potential

• Modest hedging provides meaningful leverage to gold price movements

• Anticipate significant cashflow generation over the next 4 years capable of retiring debt.

• Syama key driver of shareholder return

• Strong base for further growth

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Thank You

Disclaimer

Note: All Reserves Resources as at 30 June 2009

• This presentation includes certain statements, estimates and projections with respect to the future performances of Resolute Mining. Such statements, estimates and projections reflect various assumptions concerning anticipated results, which assumptions may prove not to be correct. The projections are merely estimates by Resolute Mining, of the anticipated future performance of Resolute Mining’s business based on interpretations of existing circumstances, and factual information and certain assumptions of economic results, which may prove to be incorrect. Such projections and estimates are not necessarily indicative of future performance, which may be significantly less favourable than as reflected herein. Accordingly, no representations are made as to the fairness, accuracy, correctness or completeness of the information contained in this presentation including estimates or projections and such statements, estimates and projections should not be relied upon as indicative of future value, or as a guarantee of value of future results. This presentation does not constitute an offer, invitation or recommendation to subscribe for or purchase securities in Resolute Mining Limited.

• The information in this presentation as it relates to ore reserves, mineral resources or mineralisation is reported in accordance with the Aus.IMM “Australian Code for reporting of Identified Mineral Resources and Ore Reserves” and is based on information compiled by T Brown and R Bray, competent persons as defined by the code. T Brown and R Bray have consented in writing to the inclusion in this report of the numbers based on the information in the form and context in which it appears. “Significant” drill results refer to results that are indicative of potentially economic mineralisation or that warrant follow-up work.

• In providing this presentation, Resolute Mining has not considered the objectives, financial position or the needs of the recipient. The recipient should obtain and rely on its own financial advice from its tax legal accounting and other professional advisers in respect of the recipients objectives financial position and needs. To the maximum extent permitted by law neither Resolute Mining nor its related corporations ,directors, employees or agents nor any other person accepts liability for any loss arising from the use of this presentation or its contents or otherwise arising in connection with it. You represent and confirm by attending and or retaining this presentation that you accept the above conditions.

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