Resolute Mining Limited — Major Shareholding Notification 2010

Jul 20, 2010

Fax To: Australian Stock Exchange

Attention: Company Announcements Office

Fax No: 00 612 9347 0005 / 9778 0999

No. of pages: (including cover) 3

20th July 2010 Date:

Sender: Tino Isnardi

In the event of any query, please call the sender on +44 (0)20 7389 0009

Dear Sir,

Please find enclosed completed Form 604 Notice of Change of Interests of Substantial Holder relating to our group holding in Resolute Mining Limited.

A copy has also been sent directly to the company.

Please advise if you have any queries regarding this notice,

Regards,

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name / Scheme	RESOLUTE MINING LTD
ACN/ARSN
1. Details of substantial holder (1)
Name		BAKER STEEL CAPITAL MANAGERS LLP (CLIENTS OF AND ASSOCIATED OR CONNECTED PARTIES)
ACN/ARSN (if applicable)
There was a change in the interests of the substantial holder on		14-Jul-09
The previous notice was given to the company on		18-May-10
The previous notice was dated		18-May-10

The previous notice was dated

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:

Class of securities (4)	IPrevious notice.		lPresent notice.-----
	iPerson's vote	(5) Woting power	IPerson's vote	Voting power (5)
Ordinary Shares	35.074.392	19.10%	134.701.392	:8.80%

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 whose relevant interest changed	Nature of change (6)	Consideration given inIrelation to change (7)	Class and number ofIsocuritios affoctod	Person's votes affected
	14-Jul-10 // Rit Capital Partners Plc	Imarkot salo	AUD41,713.94	lordinary	44.500
	09-Jul-10 // Rit Capital Partners Pic	Imarket sale	AUD132.499.95	lordinary	142.000
	09-Jul-10 // Rit Capital Partners Pic	Imarket sale	AUD170.819.84	lordinary	186.500
وسيعتبط والمنافسة

4. Present relevant interests

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

Holder of relevant interest	Registered holder of securities	Person entitled to beregistered as holder (8)	Nature of relevant(interest (6)	Class and number ofsecurities	Person's vote
Genus Dynamic Gold Fund	HSBC Custody Nominees (Australia) Ltd	[as previous column	Iregistered holder	7,290,000lordinary /	7.290.000
ICF Ruffer Baker Steel Gold Fund	National Nominees Ltd	las previous column	registered holder	21,450,608lordinarv i	20,810,608
IRIT Capital Partners PLC	National Nominees Ltd	las previous column	registered holder	ordinary /1,540,835	2,553,835
Baker Steel Gold Fund	HSBC Custody Nominees (Australia) Ltd	las previous column	Iregistered holder	3,539,949lordinary /	3.539.949
Genus Natural Resources Master Fund	HSBC Custody Nominees (Australia) Ltd	jas previous column	Iregistered holder	880,000ordinary /	880.000

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:

_________________________________FOR THE 24 YEAR OLD FEMALES AND RESIDENCE-----------Name and ACN/ARSN (if applicable)	___________Nature of association_______. .
n/a	------------------------------------------
	----.__________________________________

6. Addresses

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

Name	Address.1.18800
Ifor all entities listed…	c/o Baker Steel Capital Managers LLP_______________________________________1.4.444.1
________	[86 Jermyn Street, London, SW1Y 6JD---------------------------------------

Signature

print name	Tino Isnardi	Head of Trading and Operationscapacity	.
sign here	ملصحات	20-Jul-10date

DIRECTIONS

(1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the 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.

(3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.

(4) The voting shares of a company constitute one class unless divided into separate classes.

(5) The person's votes divided by the total votes in the body corporate or scheme multiplied by 100.

(6) Include details of:

(a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) 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

(b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or 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.

(7) Details of the consideration must include any and all benefits, meney and other that any narron from whom a relevant interact was genuice