Resolute Mining Limited — Investor Presentation 2016

Aug 2, 2016

Transforming world class gold assets into an outstanding business

Diggers & Dealers – Wednesday, 3 August 2016

Resolute is a global gold producer, explorer, developer and innovator.

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Investment Highlights

• Two high margin operating gold mines and a longer term development project

• Currently operating the 250koz Syama Gold Mine in Mali and the 100koz+ Ravenswood Gold Mine in Queensland, Australia
• Bibiani Gold Project in Ghana provides longer term growth option
• Extensive exploration footprint along the highly prospective Syama Shear and greenstone belts in Mali and Cote d'Ivoire

• Organic production growth to >450kozpa

• Syama Underground Mine a long life low cost opportunity
• Ravenswood Extension Project the future beyond Mt Wright
• Bibiani Gold Project large scale gold deposit with infrastructure in place

• Large reserve and resource inventory

• Gold reserves of 5.3Moz
• Gold resources of 14.3Moz
• Proven track record of replenishing reserves

• Strong balance sheet and ongoing operational cashflow generation

• Significant cash balance and bullion reserves of A$102 million
• No senior secured or corporate debt
• Balance sheet flexibility and strength

• New management team

• High calibre personnel with operational expertise
• Global experience across all phases of the mining cycle (operator developer explorer)
• Expertise to drive operational innovation and performance excellence 3

7Moz over 25 years' continuous gold production and counting…

New Executive Team leading a high performance culture

John Welborn Managing Director & CEO

Peter Beilby Chief Operating Officer

David Kelly GM - Corporate Strategy

Paul Henharen GM - Project Delivery

Greg Fitzgerald Chief Financial Officer

Bruce Mowat GM - Exploration

Vanessa Hughes GM - People, Culture & Info.

Transformation

Balance sheet strengthened all senior and secured debt repaid

Developing long mine life operations at our existing projects

Applying our operational expertise globally

Transformation: Record Net Profit FY16

A$213 million

	Transformation:Balance sheetstrengthened	Resolute
	2015	2016
Secured Debt /Convertible Notes	A$89m	0
Cash & Bullion	A$54m	A$102m
Net Cash/(debt)	A$-64m	A$75m
Gross OperatingCash Flows	A$162m	A$229m

Transformation: Developing long mine life operations

12+ years Confirms pathway to production Bibiani FS

Syama DFS Ravenswood FS

Targeting a 10 year extension project

• Mt Wright success ► Syama development • Syama: "Mine of the future" • Bibiani: a viable pathway to production • Ravenswood: open pit mining recommencing

Peer Benchmarking

EV / Reserve (A$/oz)

EV / Resource(1) (A$/oz)

Source: Publicly available company documents, presentations and websites and broker research. Market data as at 29 July 2016. Notes: (1) Resource inclusive of reserve.

(2) Based on broker consensus estimates calendarised to June year end.

EV / FY17E Production(2) (A$/oz)

EV / FY17E EBITDA(2) (x)

West-African ASX-Listed

S y ama G old Mine

Ke y St a t i s t ics

Commissioned	2009
Production Guidance FY17	204koz
AISC Guidance FY17	A$1,221/ozUS$891/oz
Mine life	Beyond 2028
Total Reserves	$3.5$ Moz
Total Resources	3.2Moz

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Current operations at Syama

• Completed in FY15 below budget and ahead of schedule
• Operating at ~1.3Mtpa throughput, ~80,000ozpa
• Oxide ore bodies optimization program
• Significant further Satellite ore body potential

Sulphide Circuit

• Ore Stockpile of ~5 million tonnes @ ~2g/t
• +2Mtpa throughput capacity
• Stable operating performance and aiming for +80% recoveries

Site Production capable of +250,000ozpa

Going underground at Syama: developing a robust, long life flagship gold mine.

Life of U/G Mine

per ounce

All-in-Sustaining-Cost

US$881

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Initial12 year Operating life

Pre-production capital of US$95 million fully funded

Syama: a robust, long life flagship mine

12 Years and Growing

Mine of the Future

Syama: building on the success of Mt Wright

Characteristics	MtWright	Syama UG
Oz/verticalmetre	2,400oz/v metre	6,300oz/vmetre
Tonneof stopeore/metreof development	318t/mof totaldevelopment	343t/mof totaldevelopment
Verticaladvanceperyear	51mpaLoMaverage	39mpaLoMaverage
Grade	2.73g/t	2.81g/t
Steadystateproductionrate	1.5Mtpa	2.4Mtpa
Minelife	11yrs fromstart	12+yrs fromstart
Designdepth	850m belowsurface	600mbelowsurface

Syama: Community Support

Health

• Building & refurbishing Clinics
• Training community doctors
• Drought relief aid

Education

• Building schools
• Training & development of mine employees
• Supporting Mine Training Centre in Sikasso

Water

• Solar powered pumps and water supply tanktower in Fourou
• Installing water bores and hand pumps

Sustainability

• Potential connection of Fourou to National Grid Power
• Building community centres
• Employment of local service providers

Ravenswood Gold Mine

KeyStatistics
Acquired	2004
Production GuidanceFY17	96koz
AISC Guidance FY17	A$1,344/ozUS$981/oz
TotalReserves	1.3Moz
TotalResources	3.0Moz

Mt Wright: a world leading operation

• Excellent operating history at Mt Wright
• World first mining approach – sub-level shrink stoping with fill
• Highly productive, low cost extraction of 2-3g/t deposit
• Learnings to be applied in Resolute's global operations

Ravenswood Extension Project:

a strong future beyond Mt Wright.

Sarsfield 1.2Moz Reserve & 1.3Moz Resource

Targeting a 10+ year Extension Project

Buck Reef West 1.2Moz Resource

Nolans East 71koz Reserve

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Ravenswood Extension Project: The key deposits

5Mtpa Mill Capacity

Feasibility Study Pending

Ravenswood: Sarsfield

• Reserves: 47.1Mt @ 0.8g/t (1.17Moz)
• Resources: 58.8Mt @ 0.7g/t (1.36Moz)
• Majority of drilling < 400m.
• Further potential:
  • ØAt depth and to north-east of pit
  • ØAlong strike of Buck Reef Fault
  • ØPossible post-mineralisation fault offsets (e.g. BRW)

Sarsfield – E-W section

Ravenswood: Buck Reef West

• Resources: 41.8Mt @ 1.0g/t (1.28Moz)

• High grade at intersection with quartzsulphide lodes.
• East dip / north-east plunge to mineralisation.
• Depth extension offset by late faults.
• Further potential:
  • ØBuck Reef Deeps (U/G resource)
  • ØAlong strike / down plunge of Buck Reef Fault Buck Reef West – N-S section

B i b i ani G old P r o j ect

Ke y St a t i s t ics

FeasibilityStudyCompleted	June2016
MiningRate	12Mtpa
MiningGrade	3.7g/t
AnnualProduction	>100koz
AISC	US$858/oz
TotalReserves	07Moz
TotalResources	17Moz	26

Bibiani: Feasibility Study confirms viable pathway to production.

Life of Mine All-in-Sustaining-Cost US$858/oz per ounce

Pre-production capital of US$72 million

Initial Ore Reserve of 5.4Mt @ 3.7g/t containing 640,000oz of gold 9 month

timeline to production

B i b i a n i: up side

• A sub s tan tial gold depo sit:
  • Ø P roduc tion t o da t e o f ~ 4 Moz
  • Ø 1 . 7 Moz To t al Resou rce
• In f erred R e sou r c e o f 4 . 5 M t @ 4 .1g/t
• P o ten tial t o con v ert t o Indic a ted wi t h f urthe r d rilling
• In f erred R e sou r c e s can be acc essed fr o m planned de cline – v e r y little additional c o s t t o rea c h the se r e sou r ces
• Original w o r king s a t Bi biani e x tend t o a round 800m depth
• C urren t 1 . 7 M o z R e sou r c e li e s be t ween the pit ba s e at 200 m belo w s urf a c e , and the li mit o f d rilling , a t a round 450 m belo w s urf a ce.
• Open a

High value exploration portfolio FY17 Exploration Budget A$19M

• 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
• Multiple high quality targets close to existing infrastructure at Syama in Mali and Ravenswood in Queensland
• Drilling currently ongoing in Mali, Cote d'Ivoire and Australia

"Resolute is exploring more than 13,500km2 of prospective tenure across three countries in Africa"

Resolute: 20 Years in Africa Exploring, Developing, Operating & Rehabilitating Mines

Golden Pride 1996 to 2014

Purchased Exploration Portfolio

Defined a mineable resource

Completed Feasibility Study

Constructed the first modern gold mine in Tanzania

Produced 2.2 Moz gold over a 15 year mine life

Generated net cash flows of US$211m

Completed award winning environmental rehabilitation program

Delivered land back to our partners, the Tanzanian Government

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An abundance of natural resources

Each kilometre of African soil holds just $25,000 of proven assets compared to $125,000 in the developed world. The gap isn't evidence of Africa's lower reserves, though, but a sign of how little of it has been surveyed.

The Wall Street Journal 32

Invest in Resolute

• Large Reserve & Resource inventory
• Operational expertise earned through 25+ years experience
• Strong Balance Sheet and ongoing operational cash flow generation
• New Executive Team leading cultural and performance transformation
• Organic production growth to >450kozpa
  • Syama Underground Mine a long life low cost opportunity
  • Ravenswood Extension Project a confirmed future beyond Mt Wright
  • Bibiani Gold Project Positive Feasibility Study for advanced large scale gold project
• Pursuing exploration and new project development opportunities in Africa
• Focus on shareholder returns

Global Gold Growth

Competent Person Statement and Forward Looking Statements

This presentation includes certain statements, estimates and projections with respect to the future performances of Resolute. 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, of the anticipated future performance of Resolute'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 report that relates to the Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Mr Richard Bray who is a Registered Professional Geologist with the Australian Institute of Geoscientists and Mr Andrew Goode, a member of The Australasian Institute of Mining and Metallurgy. Mr Richard Bray and Mr Andrew Goode both have more than 5 years' experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person, as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Richard Bray and Mr Andrew Goode are full time employees of Resolute Mining Limited Group and each hold equity securities in the Company. They have consented to the inclusion of the matters in this report based on their information in the form and context in which it appears. This information was prepared and first disclosed under the JORC Code 2004. Except where noted, it has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

In providing this presentation, Resolute 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 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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