Resolute Mining Limited — Investor Presentation 2012

Aug 29, 2012

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ACN 097 088 689 01
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30 August 2012

CHIEF EXECUTIVE OFFICER’S PRESENTATION AT AFRICA DOWN UNDER CONFERENCE

Attached is a copy of the Chief Executive Officer’s presentation given at the Africa Down Under Conference.

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GREG FITZGERALD Company Secretary

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AFRICA DOWNUNDER PERTH

CHIEF EXECUTIVE OFFICER PETER SULLIVAN 30 AUGUST 2012

A RELIABLE AND CONSISTENT GOLD PRODUCER

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One of the largest gold producers listed on the ASX
Three operating assets across Africa and Australia
FY2013 guidance of 415,000oz at A$830/oz
100% unhedged – strong leverage to gold price
Internally funded Syama expansion to 270Koz pa
Ungeared balance sheet provides flexibility for
capital management and future growth
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RESOLUTE: 20 YEARS+ OPERATING EXPERIENCE INCLUDING MORE THAN 15 YEARS IN AFRICA

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A consistent gold Producing gold in FY13 forecast
OZ producer since 1989 Africa since 1996/97 415Koz at A$830/oz
500000
400000
300000
200000
100000
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WORKING WITH OUR COMMUNITY PARTNERS

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SOLID CORPORATE STRUCTURE

Key Information ASX Code RSG	Key Information ASX Code RSG	$1.59 $1.64									Price (AUD)	Price (AUD)	Price (AUD)	Price (AUD)	Price (AUD)
Shares	628.28M	$1.49 $1.54
Last Share Price1 Market Cap1	$1.56 A$980M	$1.34 $1.39 $1.44
Daily Turnover2	A$6.6M	$1.24 $1.29
Cash/Bullion3	A$139M
Debt3	A$11M	14.0									Volume(m)
Hedging Shareholders	NIL ICM 32.75% M&G 14.19%	0.0 2.0 4.0 6.0 8.0 10.0 12.0
1. Current at 28 August 2012		28 May 06 Jun					15 Jun 26 Jun 05			Jul 16		Jul 25		Jul 03 Aug 14 Aug 23 Aug
2. Three month average current at 28 August 2012		12			12		12 12 12 12 12 12 12													12
3. Current at 30 June 2012

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BALANCE SHEET POSITIONED FOR GROWTH

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Transformation of balance
sheet over the past 18 months
A$139M in cash and bullion at
the end of June 2012
More than $40M spent on
share buybacks since March
Internal growth fully funded by
cash, bullion and cashflow
Ability to consider investment
and acquisition opportunities
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2011/12 Debt & Cash Levels
200
160
120
80
40
0
Debt Cash
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
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FINANCIAL PERFORMANCE CONTINUES TO IMPROVE – REFLECTED IN FIRST DIVIDEND SINCE 1999

	FY2012	FY2011	Change
Group production	398,451oz	330,859oz	20.4%
Gold sales revenue	$576.7M	$445.1M	29.6%
Total operating costs	$262.2M	$293.5M	10.7%
Total debt	$11.0M	$126.0M	91.3%
Cash, bullion, investments	$139.0M	$25.7M	440.9%
Net profit	$105.1M	$59.7M	76.1%
Earnings per share	18.62¢	13.42¢	38.8%
Fully-franked dividends	2.7¢	0¢	‒
per share
Total distribution per share	5.0¢	0¢	‒
(includingdividend)

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A GOLD MINER WITH A GLOBAL FOOTPRINT

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SYAMA – A PROFITABLE, LONG-LIFE PROJECT

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Key Statistics
RSG Ownership 80%
Commissioned 2009
FY12 Production 145,196oz
FY12 Cash Costs US$813/oz
Throughput 2.4Mtpa
Grade 2.8 g/t
Total Reserves 3.6Mozs
Total Resources 2.8Mozs
Mine Life 15+ years
Historical Production 0.33Moz
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SYAMA EXPANSION IS EXTREMELY ROBUST AT CURRENT GOLD PRICE

• § Major expansion approved in July 2012

• Expansion of open pit

• Establishment of oxide circuit

• Infrastructure including grid power connection

• § Captures total reserves of 3.68Moz including 557Koz oxide material

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• § Production increases to average 270,000ozpa

• § Life of Syama pit extended to 15 years

• Further underground potential

• § Initial capital cost of US$241M – fully funded

• § Extremely robust economics:

• LOM pre-tax net cash flow estimated US$1,902M

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“A major expansion of
Syama is underway
and scheduled to be
completed in mid
2014.”
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• Payback period <30 months at US$1650/oz gold

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MALI POLITICAL SITUATION HAS STABILISED

• § Military coup in March 2012

• § No impact on Syama operations, located 300km south of Bamako

• § Military handed power to President Traore in April

• § Transition Government formed in April and replaced in August by a more inclusive Unity Government

• § Unity Government moving towards Presidential and Parliamentary election in the next 12 months

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• § Tuareg disruption is long standing and isolated to the northern areas of the country

• § Tuaregs represent a small portion of the Mali population

GOLDEN PRIDE – A STRONG PRODUCTION RECORD

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Key Statistics RSG Ownership 100% Commissioned 1999 FY12 Production 115,298oz FY12 Cash Costs US$764/oz Throughput 2.4Mtpa Grade 1.6 g/t Total Reserves 0.1Mozs Total Resources 1.4Mozs Mine Life 1 year Historical Production 2.07Moz

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POTENTIAL TO LEVERAGE EXPERIENCE IN TANZANIA

• § Closure of Golden Pride due in mid 2013 after 15 years in production

• § Existing 1.1Moz resource located 120km NW of Golden Pride at Nyakafuru

• § Studies underway to evaluate a future development at Nyakafuru – potential to transport GP plant

• § Extensive RC/diamond drilling at Nyakafuru is producing good results:

• 34m at 8.87gpt from 74m

• 27m at 8.6gpt from 16m

• 39m at 3.34gpt from 128m

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RAVENSWOOD – STABLE, LONG-TERM PRODUCTION

Key Statistics RSG Ownership 100% Commissioned 2004 FY12 Production 137,965oz FY12 Cash Costs A$753/oz Throughput 1.5Mtpa Grade 0.9 g/t Total Reserves 1.5Mozs Total Resources 0.9Mozs Mine Life 4+ years Historical Production 1.17Moz

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RE-OPENING OF SARSFIELD REMAINS AN OPTION

§ Potential to extend Ravenswood life and increase production by reopening Sarsfield pit

• Reserves of 1.1Moz

• Additional 110kozpa output

• Mine life extended by 9 years

• § Feasibility Study estimated capital cost of $123M and LOM average cash costs of $1106/oz

• § Opportunities to improve returns being examined, including:

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• Tailings storage facility design

• Treatment of in-pit tailings

• Conversion of near-pit inferred

• resources to reserves

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HIGH VALUE EXPLORATION PORTFOLIO

• § Highly prospective, underexplored tenure spread across Mali, Cote d’Ivoire, Tanzania and Australia

• § Strong balance sheet enables renewed exploration focus to unlock value and add exploration premium

• § Exploration budget for FY13 US$22M

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• § Multiple high quality targets close to existing infrastructure at Syama and Ravenswood

• § Work expected to resume at Cote d’Ivoire FY13 following regulatory delays in FY12

“Resolute is exploring 13,590 km[2] of prospective tenure across three countries in Africa.”

• § Drilling currently ongoing in Tanzania, Mali and Australia

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SYAMA SATELLITE EXPLORATION UPSIDE

§ Significant oxide material outlined to support the proposed 1Mtpa process plant expansion

§ Further drilling designed to test and expand the current resource base along the 6km Alpha to A21 deposit trend north of the Syama deposit

§ Gold anomalism confirmed from recent drilling along western arm of northern extension

§ Sulphide depth potential untested along strike

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SYAMA REGIONAL EXPLORATION UPSIDE

§ Tenure covers ~75km of highly prospective and underexplored Syama Shear in West African Birimian Greenstone Belt

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• § Multiple resource extension targets along strike to the north and south

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• § Tabakoroni Feasibility Submitted and awaiting Exploitation Permit approval

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• § Ownership consolidation with recent acquisition from JV partner for US$20M

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RAVENSWOOD EXPLORATION

• § 3000km[2] tenure over Ravenswood Goldfield in Queensland

• § Mt Wright/Kidston style breccia pipe targets

• § Key Projects for testing in next 12 months

• Golden Valley

• Mt Success

• Mt Douglas

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HUGE POSITION IN PROSPECTIVE COTE D’IVOIRE

• § Targeting large deposits in the underexplored, world-class Birimian terrains of West Africa

• § Applied for ~10,000km[2] of permits covering 200km+ of Greenstone Belts NE of Newcrest Mining’s Bonikro mine

• § Ten high priority multi element soil anomalies delineated

• § Drill testing planned for FY13 following final permit approvals

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FIFTEEN YEARS EXPERIENCE OPERATING IN AFRICA – AND AT LEAST 15 MORE TO COME

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Proven track record mining in Africa and Australia
Three operating assets across Africa and Australia
FY2013 guidance of 415,000oz at A$830/oz
100% unhedged – strong leverage to gold price
Internally funded Syama expansion to 270Koz pa
Ungeared balance sheet provides flexibility for
capital management and further growth
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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 and I Wearing, competent persons as defined by the code. R Bray and I Wearing have 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 2012

• 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.

• Source of map on page 11: Wikipedia

www.rml.com.au

JORC RESERVES

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JORC RESOURCES

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Notes:

1. Mineral Resources are exclusive of Reserves – differences may occur due to rounding.

2. All Resources and Reserves are reported above 1gpt cut-off except Sarsfield above 0.4gpt cut-off and Nyakafuru above 0.5gpt cut-off. 3. Mt Wright underground Reserves and Resources reported above

3. 1.8gpt cut-off.

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