Resolute Mining Limited — Investor Presentation 2012

Feb 8, 2012

8 February 2012

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

MINING INDABACAPE TOWN

CHIEF EXECUTIVE OFFICER PETER SULLIVAN8 FEBRUARY 2012

A GOLDEN VALUE OPPORTUNITY

• •Second largest ASX-listed gold producer by output
• •330,000oz annual production growing to 400,000oz+
• •5.2Moz in Reserves supports 10+ years mine life
• •100% unhedged leverage to the strong gold price
• •Ungeared with no net debt
• • Healthy cash balance and strong cash flows fully fund identified optimisation and expansion pipeline

BALANCE SHEET READY FOR GROWTH

• • Balance sheet and financial risk profile transformed over the course of 2011
• • Face value of total borrowings reduced from $168M to $11M in just 12 months
• • Operations and exercise of options leaves cash balance of $71M at end of Dec 2011
• •Growth and optimisation projects funded
• •Capital management a key consideration
• • Actively seeking new opportunities through joint venture or project acquisition

OPERATING SNAPSHOT

CORPORATE SOCIAL RESPONSIBILITY

• •Over fifteen years experience operating in Africa
• • Strong track record of protecting the environment and delivering benefits for local communities
• • Adopt internationally recognised environmental and occupational health and safety standards
• • Maintain an "open door" policy of giving traditional and community leaders access to Resolute management
• • Programs work with communities to develop and implement sustainable social and economic initiatives that aim to deliver lasting regional benefits
• • Paid $43.6 million in taxes and royalties to the governments of Tanzania and Mali in FY11

TANZANIA

MALI

RESOLUTE VALUE ADD STRATEGY

• • Improve mechanical consistency of Syama to achieve target production of 250,000oz a year
• • Grow group production while reducing costs through identified optimisation and expansion projects
• • Unlock substantial exploration potential in Mali, Australia, Tanzania and Cote d'Ivoire
• • Maintain conservative balance sheet and use for disciplined growth and shareholder returns
• • Actively seeking new opportunities through joint venture or project acquisition

LONG GROWTH PIPELINE

GROWTH PROJECTS

• •Production Growth
• −Syama: oxide circuit additional ~70Koz pa, planned 1H 2014
• −Ravenswood: Sarsfield reopening ~70Koz pa, planned 1H 2013
• •Additional production replaces Golden Pride
• −Golden Pride: closure planned 1H 2013
• −Scoping study to relocate Golden Pride plant to Nyakafuru
• •Syama Grid Power Connection
• −Cost reduction A$75-100/oz
• •Capex requirement over the next two years ~$200M
• Fully funded from operating surplus

SYAMA: RAMP UP

• •FY11 production 85,362oz at US$1,197/oz
• • Gold production increase and cash cost decrease underway
• −Q1 FY12: 25,958oz at US$835/oz
• −Q2 FY12: 35,142oz at US$842/oz
• −Q3 FY12: Expected further improvement
• • Improved mechanical consistency and plant throughput driving production increase
• •Focus moving to:
• −More proactive maintenance
• −Increased training
• •Metallurgical performance confirms process design

SYAMA: PIT EXPANSION

• • Expanded pit design to capture a total of 2.94Moz
• • Mine life extended from 6 years to 13 years
• • GR Engineering to complete Definitive Feasibility Study in March quarter 2012
• •Ore body open at depth
• • Underground mine plan deferred and to be reconfigured

SYAMA: OXIDE CIRCUIT EXPANSION

• • Potential to increase Syama's annual production by ~70koz by addition of oxide milling circuit
• • Resources of 1.0Moz+ along strike north and south of main pit
• • GR Engineering to complete DFS in March quarter 2012
• • Drilling to improve resource inventory and extend life

SYAMA: GRID POWER CONNECTION

• • Diesel power generation currently represents ~1/3 of Syama's cash operating costs
• • West African power pool interconnection with Cote d'Ivoire under construction and expected to be operational by mid-2012
• •Preliminary route between Sikasso and Syama selected
• • Connection to Syama will substantially reduce mine's power generation costs
• • Grid connection capital cost estimated US$42.2M and MOU expected in 2012

Sikasso Substation Feb 2011

RAVENSWOOD: SARSFIELD OPEN PIT

• • Mining ceased in early 2009 with pit designed at A$800/oz
• •Reserve of 1.0Moz below current pit
• • Feasibility study investigating potential reopening due to strong gold price
• • Estimated capital cost $72M to restart mining and treatment
• • Simple reconfiguration of downsized plant to increase capacity from 1Mtpa to 5Mtpa for very low capital cost

NYAKAFURU

• • Total Resource of 1.0Moz+ located in an area ~120km NW of Golden Pride
• • Scoping study underway to examine future development options
• • Ongoing 15,000m drilling campaign to extend resources and test large low grade trend and high grade reefs
• • Results to date include 12m @ 10.96g/t from 10m; 16m at 2.07g/t from 14m; and 35m at 1.42g/t from 27m

EXPLORATION PROJECTS

• • Highly prospective tenure in Africa and Australia which has been underexplored
• • Strong balance sheet enables renewed focus to unlock value and add exploration premium
• •Exploration budget for FY12 doubled to $20M
• • Multiple high quality targets identified close to existing infrastructure at Syama and Ravenswood
• • Improving political situation in Cote d'Ivoire has allowed exploration to resume during FY12
• • Drilling underway at Nyakafuru and Kanegele JV in Tanzania to upgrade and extend resources

SYAMA REGIONAL EXPLORATION UPSIDE

• • Located in prolific West African Birimian Greenstone Belt
• • Tenure covers ~75km of the highly prospective and under explored Syama Shear
• • Multiple resource extension targets along strike to the north and south
• • Actively pursuing other nearby prospective tenure – JV with Robex Resources in July 2011
• • Tabakoroni Feasibility Submitted in July 2010 and awaiting approval of Exploitation Permit

COTE D'IVOIRE EXPLORATION

• • Focus on the under explored, World-Class Birimian terrains of West Africa
• • ~10,000km 2 of permits covering over 200km of Greenstone Belts NE of Newcrest Mining's Bonikro Mine
• • Broad scale 1km x 1km multi-element sampling targeting large scale deposits
• • Ten high priority multi element soil anomalies delineated

RAVENSWOOD EXPLORATION

• • 3000km2tenure over Ravenswood Goldfield
• • Numerous Mt Wright-style targets in the region not previously explored for
• • First target Welcome Breccia intersected a spectacular 113m @ 7.7g/t Au from 316m
• •Key Projects for testing in next 12 months:
• Welcome Breccia
• −Golden Valley
• −Mt Success
• Mt Douglas

A GOLDEN VALUE OPPORTUNITY

• •Second largest ASX-listed gold producer by output
• •330,000oz annual production growing to 400,000oz+
• •5.2Moz in Reserves supports 10+ years mine life
• •100% unhedged leverage to the strong gold price
• •Ungeared with no net debt
• • Healthy cash balance and strong cash flows fully fund identified optimisation and expansion pipeline

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 2011
• • 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.

www.rml.com.au

JORC RESERVES – 30 JUNE 2011

Gold Reserves			Project	Resolute Group	Resolute Group
(inc)ludstockpileses	Project	Gold grade	Contained	Share	Share
	Tonnes	(g/t)	Ous Goldnce	%	ounces
RESERVES
s (ed)ResProverve
liaAustra
right (iu) 2Mt Wnsit	5,180,000	2.8	466,000	100%	466,000
Sarsfield (insitu)3	20,270,000	0.9	604,000	100%	604,000
Mali
Sya(insitu)ma	15,806,000	3.0	25,0001,5	80%	1,220,000
Stockpiles	573,000	2.6	48,000	80%	38,000
(insitu)A21	724,000	2.8	65,000	80%	52,000
Finkolo-Etrun JV(insitu)sca	1,037,000	3.3	109,000	51%	56,000
Taniazan
GoldenPride(insitu)	1,880,000	2.0	121,000	100%	121,000
Stockpiles	380,000	1.3	16,000	100%	16,000
Total Pedrov	45,850,000	2.0	2,954,000		2,573,000
Ress (Probable)erve
Australia
Mt Wright (insitu) 2	830,000	2.0	53,000	100%	53,000
sfie3Sarld (insitu)	15,860,000	0.8	428,000	100%	428,000
Stockpiles(Sarsfield)3	250,000	0.6	1,000	100%	1,000
Mali
(insitu)Syama	885,00015,	2.7	1,379,000	80%	03,0001,1
Stockpiles	1,432,000	1.8	83,000	80%	66,000
(insitu)A21	1,442,000	2.7	125,000	80%	100,000
Finkolo-Etrun JV(insitu)sca	1,381,000	2.9	127,000	51%	65,000
Taniazan
GoldenPride(insitu)	940,000	2.0	60,000	100%	60,000
Stockpiles	1,100,000	0.7	25,000	100%	25,000
al (le)TotProbab	39,120,000	1.8	2,281,000		1,901,000
Total Rs (Pedandeserverov
le)Probab	84,970,000	1.9	5,235,000		4,474,000

JORC RESOURCES – 30 JUNE 2011

				Resolute	Resolute					Resolute	Resolute
1Gold Resources			Project	Group	Group	Gold R1esources			Project	Group	Group
(includckpiles)stoes	Project	Gold grade	Contained	Share	Share			Gold
	Tonnes	(g/t)	Ous Goldnce	%	Ounces	(includckpiles)stoes	jecProt	degra	Contained	Share	Share
RESOURCES 1							Tonnes	(g/t)	Ous Goldnce	%	ounces
(Md)Resourceseasure
Australia						(In)Resferredources
) 2Mt Wright (insitu	0	0.0	0			liaAustra
Sarsfield (tu)3insi	2,030,000	0.8	52,000	100%	52,000	right (in) 2Mt Wsitu3	470,000	2.6	39,000	100%	39,000
Mali						Sarsfield (insitu)	7,850,000	0.8	202,000	100%	202,000
(insitu)Syama	2,630,000	3.0	254,000	80%	203,000	Welcome Bia (insitu)recc	2,040,000	3.2	210,000	87%	180,000
A21(insitu)	430,000	2.1	29,000	80%	23,000	Mali
Finkolo-(in)Etrun JVsitusca	1,300,000	2.7	113,000	60%	68,000	Sya(insitu)ma	3,800,000	2.4	293,000	80%	234,400
Taniazan						(insitu)A21	3,300,000	1.8	191,000	80%	153,000
GoldenPride(insitu)	3,580,000	1.9	219,000	100%	219,000	Alpha,SyaExt& Tellemam
al (red)TotMeasu	9,970,000	2.1	667,000		565,000	(insitu)	2,619,000	2.4	204,000	80%	163,000
(Ind)Resdicateources						Finkolo-(in)Etrun JVsitusca	3,100,000	2.2	219,000	60%	131,400
Australia						iaTanzan
) 2Mt Wright (insitu	780,000	2.6	65,000	100%	65,000	GoldenPride(insitu)	11,800,000	1.7	645,000	100%	645,000
Sarsfield (tu)3insi	5,360,000	0.7	121,000	100%	121,000
Mali						kafuNyaru JV	11,700,000	1.4	527,000	75%	393,000
(insitu)Syama	7,414,000	2.7	644,000	80%	515,000
Stockpiles	3,360,000	1.4	151,000	80%	121,000	al (ed)TotInferr	46,679,000	1.7	2,530,000		2,141,000
A21(insitu)	1,764,000	2.0	113,000	80%	90,000
Alpha,Sya& TelleExtmam						Total Resources	96,640,000	1.8	66,0005,7		4,944,000
(insitu)	3,203,000	2.2	224,000	80%	179,000
Finkolo-(in)Etrun JVsitusca	3,100,000	2.6	259,000	60%	,000155
Taniazan
Goldende(insitu)Pri	8,210,000	1.6	422,000	100%	422,000
GoldenPride(ckpiled)sto	1,100,000	0.7	25,000	100%	25,000
kafuNyaru	7,700,000	2.2	545,000	100%	545,000
al ()TotIndicated	41,991,000	1.9	2,569,000		2,238,000
Total Md andIndicatedeasure	51,961,000	1.9	3,236,000		2,803,000