Resolute Mining Limited — Investor Presentation 2013

Aug 27, 2013

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ASX Announcement
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28 August 2013

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 28 AUGUST 2013

A PROVEN GOLD PRODUCER

One of the largest gold producers listed on ASX

Operating assets across Africa and Australia

FY2014 guidance of 345,000oz at A$890/oz

100% unhedged – strong leverage to gold price

Profitable and cash generating over wide gold price range Conservative balance sheet ensures strong financial position - flexible to pursue growth

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LONG TERM PRODUCER WITH +16 YEAR PRESENCE IN AFRICA

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FY13 435Koz at A$811/oz
Producing
Ahead of guidance
500,000 gold in Africa
since 96/97
450,000
400,000 Consistent
350,000 gold producer
since 1989
300,000
250,000
200,000
150,000
100,000
50,000
0
Australia Africa
ounces
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+ 6.5Moz gold production to date …

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WORKING WITH OUR COMMUNITY PARTNERS

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CORPORATE OVERVIEW

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Key Information
ASX Code RSG
Shares 641M
Last Share Price [1] $1.02
Market Cap [1] A$654M
Daily Turnover [2] 4.3M shares
Cash/Bullion/Inv [3] A$156M
Debt [3] A$92M
Hedging NIL
Shareholders ICM 33.1%
Van Eck 7.4%
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1. Current at 27 August 2013

2. Average FY2013

3. As at 30 Jun 2013

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FY2013: STRONG FINANCIAL PERFORMANCE THROUGH GOLD CYCLE

• Gold production up 9% to 435,855oz at A$811/oz

• Revenue increased 7% to $619M at average gold price received of A$1,562/oz (FY12: A$1,627/oz)

• Reported NPAT of $85M, after non-cash impairment charges of $79M

• Impairment primarily marked-to-market charges against gold equity investments due to sustained period of lower gold prices and prevailing market conditions at 30 June 2013

• Strong positive cash flow from operations of $154M, incl. ~$17M exploration spend

• Capital expenditure of $113M

• Cash, bullion and investments market value of $156M at 30 June 2013

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Gold production Cash cost / ounce Revenue Operating cashflow
500,000 1,000 700 200
900
600 175
400,000 800
150
700 500
125
300,000 600
400
500 100
300
200,000 400 75
300 200
50
100,000 200
100 25
100
0 0 0 0
09 10 11 12 13 09 10 11 12 13 09 10 11 12 13 09 10 11 12 13
$A
ounces $A million
$A million
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FOCUS ON CASH – OPTIMISING THE BUSINESS

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Operating versatility and cash generating for wide
range of gold price movements
Review of Syama life of mine plans with remaining
expenditure on Syama expansion critically evaluated
Ongoing drive to reduce operating cost base
Senior management pay freeze implemented
Ongoing commitment to capital management
ensuring strong financial position retained.
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SYAMA - A PROFITABLE LONG LIFE PROJECT

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Gold Production

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250,000
200,000
150,000
100,000
50,000
0
ounces
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Key Statistics RSG Ownership 80% Commissioned 2009 Production (FY13) 196,182 oz Production Grade 3.65 g/t Cash Costs (FY13) A$796/oz Mine Life 10+ years Total Reserves 2.4 Moz Reserve Grade 2.6 g/t Total Resources 4.7 Moz Resource Grade 2.4 g/t

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RESETTING SYAMA - EXPANSION REMAINING ROBUST AT CURRENT GOLD PRICE

• Major expansion approved June 2012

• Expansion of open pit

• Establishment of oxide circuit

• Infrastructure including grid power connection

• Production increases to average 270,000ozpa

• Stage 3 of open pit expansion removed

• Resetting reserves

• Underground inventory (+8,000ozs/vm) subject to prefeasibility

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• Capex savings to be determined

• Total capital cost of US$266M under review

• Expansion project 34% complete at June 2013

• ‒ US$61m for FY14 and US$113M currently deferred to FY15

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“A major expansion of
Syama is underway and
scheduled to be
completed in mid 2015.”
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RAVENSWOOD – STABLE, LONG -TERM PRODUCTION

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Gold Production

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150,000
125,000
100,000
75,000
50,000
25,000
0
ounces
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Key Statistics

RSG Ownership 100% Commissioned 2004 Production (FY13) 141,846oz Production Grade 2.9 g/t Cash Costs (FY13) A$760/oz Current Mine Life 10+ years Total Reserves 1.5 Moz Reserve Grade 0.9 g/t Total Resources 1.7 Moz Resource Grade 0.8 g/t

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MT WRIGHT DELIVERING

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Drill testing to the
500RL
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• Ore production consistent 1.4mtpa from sub level shrinkage

• Grade dilution well within expectation

• Decline completed to design depth

• Assessment underway for potential to extend mining below 600RL base

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RE-OPENING OF SARSFIELD REMAINS AN OPTION

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

• Reserve/Resources of 2.5Moz

• Additional 110kozpa output

• Mine life extended by 9 years

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

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• Opportunities to improve returns being examined, including:

• Tailings storage facility design

• Owner Mining

• Buckreef West and Nolan’s East drill targets

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GOLDEN PRIDE – NEAR END OF LONG MINE LIFE

• Closure of Golden Pride end of 2013 after 15 years in production

• Rehabilitation well advanced as progressively undertaken since commencement

• Cost provision of ~$10M

• Plant options being considered

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Ke Statistics y RSG Ownership 100% Commissioned 1999 Production (FY13) 97,827 oz Production Grade 1.46 g/t Cash Costs (FY13F) A$915/oz Mine Life 0.5 year Total Reserves 0.1 Moz Reserve Grade 1.2 g/t Total Resources 1.4 Moz Resource Grade 1.8 g/t

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POTENTIAL TO LEVERAGE EXPERIENCE IN TANZANIA

• Located 120km NW of Golden Pride at Nyakafuru

• Recently announced 388,000oz Reserve and 900,000oz in Resources

• RC/diamond drilling along Kanegele shear continues to deliver very good results over a 5km strike

• Studies continue to evaluate future development at Nyakafuru

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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 FY14 US$15M

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

• Drilling currently ongoing in Tanzania, Mali and Australia

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

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

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

• Tabakoroni Feasibility Submitted and awaiting Exploitation Permit approval

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

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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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EXPOSURE TO GHANA - NOBLE MINERAL RESOURCES

Resolute acquired a 19.99%[1] stake in Noble and backed a A$85M financing package in Nov 2012 Noble owns the Bibiani gold mine in Ghana

To date Bibiani has underperformed and not met production or cost forecasts Resolute has invested A$85M in Noble convertible notes Strategic investment by Resolute provides exposure to advanced West African gold project

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1. Current holding is 19.67%

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RESERVES AND RESOURCES UPDATE: 30 JUNE 2013

• Total Reserves and Resources up 13%

• Reflecting modified Syama mine plan and drilling success across Queensland, Mali and Tanzania

• Reserves at 4.3Moz of gold

• Impacted by removal of Stage 3 cut back (1.2Moz reduction)

• Redesigned Syama open pit driving lower cash costs and strong cash flow for next 8 years

• 50% increase in Reserves at A21 Mali

• First reserve at Nyakafuru Tanzania

Total Mineral Resource and Ore Reserve

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14
12.92 Moz
12 11.42 Moz
10
4.30
8
5.25
6
4
2
6.17 8.62
0
30 June 2012 30 June 2013
Mineral Resource Ore Reserve
Gold contained ounces (Moz)
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• Resources increase 40% to 8.6Moz of gold

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WHY RESOLUTE?

One of the largest gold producers listed on the ASX Long term operating gold miner in Africa and Australia FY2014 guidance of 345,000oz at A$890/oz 100% unhedged – strong leverage to gold price Cash generating over wide range of gold prices Lightly geared balance sheet provides flexibility for capital management and future growth Active examination of new growth opportunities in receptive gold price and equities market

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Thank you

rml.com.au

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JORC RESERVES

RESOLUTE GROUP RESERVES and RESOURCES

Reserves and Resources comply with the Australian code for reporting of Mineral Resources and Reserves (The JORC Code 2004)

Reserves and Resources Statement as at end of June 2013	Reserves and Resources Statement as at end of June 2013	Reserves and Resources Statement as at end of June 2013
Gold Reserves (includes stockpiles)	Project Tonnes	Project Resolute Group Resolute Group Gold grade Contained Share Share (g/t) Ounces Gold % ounces
RESERVES
Reserves ( Proved) Australia Mt Wright (insitu)3 Sarsfield (insitu)2 Mali Syama (insitu) Stockpiles Syama Satellites (insitu) Finkolo-Etruscan JV(insitu)	3,271,000 2.8 290,000 100% 290,000 28,450,000 0.8 747,000 100% 747,000 11,191,000 3.0 1,077,000 80% 861,000 249,000 2.6 21,000 80% 17,000 3,122,000 2.2 224,530 80% 180,000 1,335,000 3.1 133,000 51% 68,000
Total Proved	47,618,000 1.6 2,492,530 2,163,000
Reserves ( Probable) Australia Mt Wright Stockpiles3 Sarsfield (insitu)2 Mali Syama (insitu) Stockpiles Syama Satellites (insitu) Finkolo-Etruscan JV (insitu) Tanzania Nyakafuru JV (insitu)2 Golden Pride (insitu) Golden Pride Stockpiles	60,000 2.9 6,000 100% 6,000 18,640,000 0.7 423,000 100% 423,000 3,439,000 2.6 288,000 80% 230,000 2,199,000 1.9 136,000 80% 108,000 4,986,000 2.1 337,000 80% 270,000 1,821,000 2.8 163,000 51% 83,000 7,360,000 1.6 388,000 98% 380,000 480,000 2.0 30,000 100% 30,000 1,264,000 0.9 37,000 100% 37,000
Total(Probable)	40,249,000 1.4 1,808,000 1,567,000
Total Reserves(Proved and Probable)	87,867,000 1.5 4,300,530 3,730,000

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JORC RESOURCES

Gold Resources1 (includes stockpiles)	Project Tonnes	Project Resolute Group Resolute Group Gold grade Contained Share Share (g/t) Ounces Gold % ounces	Gold Resources1 (includes stockpiles)	Project Tonnes	Project Resolute Group Resolute Group Gold grade Contained Share Share (g/t) Ounces Gold % ounces
			Resources (Inferred) Australia Mt Wright (insitu)3 Sarsfield (insitu)2 Welcome Breccia (insitu) Mali Syama (insitu) Syama Satellites (insitu) Finkolo-Etruscan JV (insitu) Tanzania Golden Pride (insitu) Nyakafuru JV (insitu)2	1,090,000 22,192,000 2,036,000 3,425,000 6,946,000 3,132,000 12,945,000 6,312,000	3.1 108,000 100% 108,000 0.7 521,000 100% 521,000 3.2 208,000 100% 208,000 2.3 251,000 80% 201,000 2.1 479,000 80% 383,000 2.2 219,000 60% 131,000 1.7 724,000 100% 724,000 1.1 227,000 90% 204,000
RESOURCES1
Resources (M easured) Australia Sarsfield (insitu)2 Mali Syama (insitu) Syama Satellites (insitu) Finkolo-Etruscan JV (insitu) Tanzania Golden Pride(insitu)	16,185,000 14,769,000 1,051,000 996,000 3,786,000	0.8 393,000 100% 393,000 2.6 1,256,000 80% 1,005,000 1.6 56,000 80% 45,000 2.7 87,000 60% 52,000 2.0 238,000 100% 238,000
			Total(Inferred)	58,078,000	1.5 2,737,000 2,480,000
Total(Measured)	36,787,000	1.7 2,030,000 1,733,000	Total Resources	172,237,000	1.6 8,618,000 7,531,000
Resources (Indicated) Australia Mt Wright (insitu)3 Sarsfield (insitu)2 Mali Syama (insitu) Stockpiles Syama Satellites (insitu) Finkolo-Etruscan JV (insitu) Tanzania Golden Pride (insitu) Nyakafuru JV (insitu)2	604,000 20,384,000 19,285,000 3,774,000 4,840,000 2,674,000 6,744,000 19,067,000	3.2 63,000 100% 63,000 0.7 444,000 100% 444,000 2.6 1,595,000 80% 1,276,000 1.3 164,000 80% 131,000 1.9 288,000 80% 231,000 2.6 224,000 60% 134,000 1.8 401,000 100% 401,000 1.1 672,000 95% 638,000	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 Reserves are reported at a 2.3gpt cut-off and Resources above 1.8gpt cut-off.
Total(Indicated)	77,372,000	1.5 3,851,000 3,318,000
Total Measured and Indicated	114,159,000	1.6 5,881,000 5,051,000

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