Resolute Mining Limited — Investor Presentation 2011

Feb 9, 2011

CHIEF EXECUTIVE OFFICER'S PRESENTATION AT INDABA CONFERENCE

Attached is a copy of the Chief Executive Officer's presentation given at the Mining Indaba Conference.

For and on behalf of the Board

GREG FITZGERALD Company Secretary

GOLD CREDENTIALS

• Production: est 380,000ozs FY11 352,303 ozs FY10 Geographic Diversity at 3 Operations 2 nd Largest Gold Producer on ASX 100% Unhedged
• Reserves: 3.5m ozs* Total All Resources: 10.4m ozs*
• Development: Strong Pipeline of Value Add Projects Ongoing Resource - Reserve Conversion Advanced Projects
• Exploration: Large West African Footprint Improved Prospects in Australia Opportunities in Tanzania

*30 June 2010 attributable +Sarsfield upgrade

CASH RETURNS

• Growing Production Profile
• Falling Cash Cost
• Strong Cash Generation
• Significant Liability Reduction to Dec 11
  • Secured Debt Repayments to Dec 11 US$30m and A$50m
  • Potential Con Note Conversion Dec 11 $67m
  • Potential Option Exercise Dec 11 $32m
• Strong Base for Growth
  • Organic
  • M&A

CORPORATE SUMMARY

Capitalisation

• Issued Shares (ASX: RSG): 466 million
• Issued Options (ASX: RSGO): 52 million
• Issued Con Notes (ASX: RSGG) 137million
• 6 Mth Share Price Range: A$1.53 $0.73
• Market Cap (diluted): A$850 million

Board of Directors

• Peter Huston Non Exec Chairman
• Peter Sullivan Managing Director
• Tom Ford Non Executive Director
• Bill Price Non Executive Director

Debt

• Secured US$32.5 + A$50 million
• Other A$12.3 million
• Deferred Put Premium US$6.6 million

Cash (31 Dec10) A$33.1 million

Major Shareholders

• M&G Investments 19.1%
• Alliance Life Common Fund 18.1%
• Baker Steel 10.4%
• Merrill Lynch 10.1%
• Acorn Capital 6.5%

SYAMA

• Major Asset of Resolute ( Resolute 80%, Mali Govt 20%)
• Operation is Basis of Major West African Position
• Over 6 Million ozs
• Ramping Up to Production of 250,000+ ozs pa
• 10+ Year Operation
  • Pit Expansion
  • Oxide Circuit

SYAMA OPERATIONS

• Production Ramp Up Making Good Progress
• Mechanical Consistency Improving
• Metallurgical Performance Confirms Process Design
• 1H FY11 Gold Production 47,340 ozs @ Cash Cost US$1045
• Significant Production Increase and Cash Cost Decrease Underway

SYAMA PIT EXPANSION

• Resource Of +3.0 Million ozs Below Current Pit Design
• Expanded Pit Design Based on US$1200/oz
• Add 900K ozs to Reserve, 85m Deeper
• Underground Plan to be Revised
• Ore Body Open at Depth

SYAMA OXIDE CIRCUIT

• Resources of +1.0 Million ozs Outlined Along Strike North and South of Main Pit
• Dedicated Oxide Circuit
  • Deliver Extra ~70 kozs
  • Capital Cost Estimate US$38 million
  • 7 years life
• Drilling To Improve Resource Inventory

SYAMA NORTH EXPLORATION

A21/Quartz Vein Hill : Infill and extension RC drilling on 50m traverses Initial resource of 601,000oz @ 2.5g/t Au

Alpha : Infill and extension RC drilling on 50m traverses.

Initial resource of 101,000oz @ 1.8g/t Au

Syama Extended : Infill and extension RC drilling on 50m traverses

Initial resource of 162,000oz @ 2.5g/t Au

Other Targets: Untested extensions to QVH/A21, Ba01 and Samory, All Untested below 100m

SYAMA SOUTH EXPLORATION

Tellem : RC drilling on 50-100m traverses.Continuous mineralisation over 4000m – Open along strike

Initial resource of 165,000oz @ 2.5g/t Au

Paysans: Broad spaced (200m) aircore traverses. Continuous mineralisation over 1400m. Open along strike*.*

Senufo-Salikou: Broad spaced (200-600m) aircore traverses. Continuous mineralisation over 1000m. Open along strike.

Other Targets: 12km of underexplored strike remains to be tested, All Untested below 100m

SYAMA GRID POWER CONNECTION

Sikasso Substation Progress July 2010 – 80% completed

• West African Power Pool Interconnection with Cote d'Ivoire
• Grid to be Commissioned in Sikasso early 2011
• Current Diesel Power Generation Costs ~1/3 of Cash Costs
• Connection will Substantially Reduce Costs
• Grid Connection Capital Estimated US$42.2M

SYAMA REGIONAL EXPLORATION

• Located in Prolific West African Birimian Greenstone Belt
• Tenure Covers ~ 75 km of the Highly Prospective and Under Explored Syama Shear
• Actively Pursuing Other Nearby Prospective Tenure
• Tabakoroni Feasibility Submitted in July 2010. Awaiting Approval of Exploitation Permit

COTE D IVOIRE EXPLORATION

• Focus on the Under Explored World Class Birimian Terrains of West Africa
• ~10,000 sqkm of Permits Covering over 200km of Greenstone Belts NE of Bonikro Gold Mine
• Broad Scale 1km x1km Multi Element Sampling Targeting Large Scale Deposits
• Ten High Priority Multi Element Soil Anomalies Delineated

RAVENSWOOD

• Over 1.5 Million ozs in Reserves
• 1H FY11 Gold Production 57,076 ozs @ Cash Cost A$952/oz
• Mt Wright Ore Production Becoming Main Feed Source
• Expansion of Sarsfield Open Pit Extends Mine Life to 10 Years
• A Number of Mount Wright/Kidston Style Targets to be Tested

MOUNT WRIGHT

• Mining Ramp Up with Sub Level Shrinkage Method Established
• Production target 1.0mpta @3.5g/t for ~100,000 ozs pa
• Reserve Additions with Infill Drilling from 720mRL to 600mRL
• Further Testing for Depth Extension (600mRL to 300mRL) to Commence.
• Adjacent Granite Breccia Prospective

SARSFIELD OPEN PIT

• Mining Ceased in Early 2009, Pit Designed at A$800/oz
• Reserve of 1.0 Moz Below the Pit
• Estimated Capital $72 M to Restart Mining and Treatment
• 5Mtpa Throughput at Nolans Plant

WELCOME BRECCIA

• New Discovery Near Ravenswood Plant (Resolute 80%)
• WED003 Intersected a Spectacular 113m @ 7.7g/t Au from 316m
• Mineralisation is Plunging Steeply and Remains Open at Depth.
• Initial Resource Estimate 2.04 Mt @ 3.18g/t Au for 208,000 ozs
• Welcome Breccia the First of Five Mt Wright Style Targets to be Tested in the District

GOLDEN PRIDE

• 300,000 ounces in Reserves
• 1H FY11 Gold Production 57, 232 ozs @ Cash Cost US$708/oz
• Mining to Final Pit Design, 2 Year Production Life
• Mine Planning for Near Pit Deposits
• Exploration Focus for Longevity

GOLDEN PRIDE

• Incremental Reserve Additions of ~50,000 ounces at Maji / Southern Oxides
• Assessments of Terry's Target , ATM and Far East Ongoing

• Strong Long Term Production Profile
• Moving to Cash Generation Phase
• De-gearing Balance Sheet
• Growth Options Becoming Focus
• Extensive Range of Organic Value Add Projects

THANK YOU

DISCLAIMER

• 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 R Bray, a competent person as defined by the code. R Bray has consented 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. All Reserves Resources as at 30 June 2010
• 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.