Resolute Mining Limited — Major Shareholding Notification 2010

Dec 19, 2010

SUBSTANTIAL SHAREHOLDER NOTICE

Please find attached a copy of a substantial shareholder notice received by the Company.

GREG FITZGERALD Company Secretary

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme	Resolute Mining Limited
ACN/ARSN	097 088 689
1. Details of substantial holder (1)
Name	Alliance Life Common Fund Limited
ACN/ARSN (if applicable)
There was a change in the interests of thesubstantial holder on	17/12/2010
The previous notice was given to the company on	06/10/2010
The previous notice was dated	٠06/10/2010

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Previous notice			Present notice
Person's votes	Voting power (5)	Person's votes	Voting power (5)
97, 318, 975	21.6%	90, 461, 956	20.0%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date ofchange	Person whoserelevant interestchanged	Nature of change (6)	Consideration given inrelation to change (7)	Class and numberof securitiesaffected	Person's votesaffected
	See Appendix"A"
			$\sim$

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder ofrelevantinterest	Registered holderof securities	Person entitled to beregistered as holder8)	Nature of relevantinterest $(6)$	Class and numberof securities	Person's votes
	See Appendix"A"

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable)	Nature of association
See Appendix "A"

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
See Appendix "A"

Signature

print name	Brad Goddard	Directorcapacity
sign here		date

DIRECTIONS

• If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the $(1)$ manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 6 of the form.
• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.
• See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001. $(3)$
• The voting shares of a company constitute one class unless divided into separate classes. $(4)$
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• $(6)$ Include details of:
  • any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) $(a)$ applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
  • any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or $(b)$ disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired $(7)$ has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write $(8)$ "unknown"
• Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice. $(9)$

This is Appendix A of 2 pages referred to in form 604 - Notice of change of interests of substantial holder

Resolute Mining Ltd - ACN 097 088 689

$3.$ Changes in relevant interests

Date of	Person whose		Consideration	Class and	Person's
change	relevant interest	Nature of change	given in relation	number of	votes
	changes		to change	securities	affected
05-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	42,109	31,000	31,000
07-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	118,183	85,000	85,000
11-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	105,775	75,000	75,000
11-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	249,817	175,800	175,800
11-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	35,258	25,000	25,000
11-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	71,015	50,000	50,000
12-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	190,729	134,500	134,500
13-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	679,168	500,000	500,000
14-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	395,366	279,221	279,221
15-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	55,668	40,000	40,000
19-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	46,788	35,000	35,000
21-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	209,047	160,000	160,000
25-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	91,199	70,000	70,000
26-Oct-10	Eclectic Investment Company plc	On Market Purchase	321,045	250,002	250,002
27-Oct-10	Eclectic Investment Company plc	On Market Purchase	973,484	749,998	749,998
27-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	406,789	316,696	316,696
28-Oct-10	Alliance Life Common Fund Ltd	On Market Sale	64,893	50,000	50,000
01-Nov-10	Eclectic Investment Company plc	On Market Sale	1,308,690	1,000,000	1,000,000
03-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	68,018	52,000	52,000
04-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	363,364	275,000	275,000
08-Nov-10	Eclectic Investment Company plc	On Market Purchase	730,748	498,306	498,306
08-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	73,257	50,000	50,000
08-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	366,402	250,877	250,877
09-Nov-10	Eclectic Investment Company plc	On Market Purchase	2,484	1,694	1,694
09-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	295,522	200,000	200,000
15-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	202,344	140,000	140,000
15-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	200,352	137,221	137,221
16-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	60,026	41,500	41,500
16-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	144,402	100,000	100,000
17-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	139,979	100,000	100,000
24-Nov-10	Alliance Life Common Fund Ltd	On Market Sale	287,963	221,000	221,000
01-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	124,316	102,000	102,000
06-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	204,262	155,000	155,000
06-Dec-10	Alliance Life Common Fund Ltd	On Market Purchase	43,773	32,858	32,858
07-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	974,954	718,063	718,063
08-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	353,376	265,000	265,000
10-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	110,470	85,000	85,000
13-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	127,290	100,000	100,000
14-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	767,991	600,000	600,000
15-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	1,243,205	950,000	950,000
16-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	64,392	49,999	49,999
17-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	2,497,500	2,000,000	2,000,000
17-Dec-10	Alliance Life Common Fund Ltd	On Market Sale	350,421	270,000	270,000
17-Dec-10	Eclectic Investment Company plc	On Market Sale	642,981	500,000	500,000
17-Dec-10	Eclectic Investment Company plc	On Market Purchase	2,502,500	2,000,000	2,000,000

This is Appendix A of 2 pages referred to in form 604 - Notice of change of interests of substantial holder

Resolute Mining Ltd - ACN 097 088 689

Present relevant interests 4.

Holderof relevant interest	Registered holder ofsecurities	Person entitled to beregistered as holder	Nature ofrelevantinterest	Class andnumber ofsecurities	Person'svotes
Alliance Life Common	HSBC Custody Nominees	Alliance Life Common Fund	Beneficial	61,483,471	61,483,471
Fund Ltd		Ltd	owner
Alliance Life Common	Newport Black Trust	Alliance Life Common Fund	Beneficial	1,978,485	1,978,485
Fund Ltd	Company	Ltd	owner
		Utilico Ltd	Beneficial	25,000,000	25,000,000
Utilico Ltd	JP Morgan		owner
Eclectic Investment		Eclectic Investment	Beneficial	2,000,000	2,000,000
Company plc	HSBC Custody Nominees	Company plc	owner

Changes in association 5.

Name and ACN

006 538 147 Ingot Capital Investments Pty Ltd Custodial Capital Management Pty Ltd 086 198 656 Utilico Ltd Eclectic Investment Company PLC

Nature of association

Common directors and fund manager

Addresses 6.

Name

Alliance Life Common Fund Ltd Custodial Capital Management Pty Ltd Ingot Capital Investments Pty Ltd Eclectic Investment Trust PLC

Utilico Ltd

Address

1/12 Via San Simpliciano, Milan, Italy PO Box 2073, Rose Bay North, NSW, 2030 PO Box 2073, Rose Bay North, NSW, 2030 Springfield Lodge, Colchester Road, Chelmsford Essex CM2 5PW, United Kingdom Exchange House, Primrose Street, London EC2A 2NY, United Kingdom

Director

B.A. Goddard

Date

20/12/10