Resolute Mining Limited · ASX:RSG

Resolute Mining — Denver Gold Forum 2016

30 slides from Resolute Mining's conference presentation, Sep 21, 2016

1. Slide 1: Transforming world class gold assets into an outstanding business

   For personal use only Transforming world class gold assets into an outstanding business Denver Gold Forum 2016, Denver Colorado USA – Tuesday 20 September, 2016

2. Slide 2: Cautionary Statement

   For personal use only Cautionary Statement 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

3. Slide 3: Corporate Summary (ASX:RSG)

   For personal use only Corporate Summary (ASX:RSG) Corporate Structure: 20 September 2016 Shares on issue 658,921,396 Share Price Share Price A$2.14 2.5 Market Capitalisation A$1.41Bn (US$1.06Bn) 2 Cash and bullion A$102m (US$77m) at 30 June 2016 Debt A$27m (US$20m) at 30 June 2016 1.5 $AUD 300,000oz

4. Slide 4: Resolute is a global gold producer, explorer, developer and innovator

   For personal use only Resolute is a global gold producer, explorer, developer and innovator. 4

5. Slide 5: 7Moz over 25 years continuous gold production and counting

   7Moz over 25 years’ continuous For personal use only gold production and counting… 8,000,000 7,000,000 Syama 6,000,000 Ravenswood ounces 5,000,000 Golden Pride 4,000,000 Obotan Bullabulling 3,000,000 Chalice Experience 2,000,000 Marymia Southern Cross 1,000,000 Higginsville Expertise 0 1993 1994 199

6. Slide 6: Transformation: Developing long mine life operations

   For personal use only Transformation: Developing long mine life operations Syama DFS Bibiani FS Ravenswood FS 12 years Confirms pathway to production 13 years 6

7. Slide 7: Transformation: Applying our operational expertise globally

   For personal use only Transformation: Applying our operational expertise globally • Syama: “Mine of the future” • Ravenswood: a long life low cost open pit operation • Bibiani: a viable pathway to production 7

8. Slide 8: FY16: Highlights

   For personal use only FY16: Highlights Outstanding Transformational Performance Financial Operating Balance Sheet Performance Performance Total Cash and bullion at A$213m FY16 net profit after tax 340,540oz Total gold sold for FY16 A$102m market value Revenue from gold and Average price for total go

9. Slide 9: Reserves & Resources

   For personal use only Reserves & Resources 5.6Moz Reserves Total Ore Reserves estimated at 112.1Mt @ 1.5g/t Au for 5.6Moz of contained gold, comprising: 0.6Moz Syama Gold Mine 37.0Mt @ 2.6g/t Au for 3.1Moz 1.8Moz 3.1Moz Ravenswood Gold Mine 69.7Mt @ 0.8g/t Au for 1.8Moz Bibiani Gold Mine 5.5Mt @ 3.7

10. Slide 10: Reserve Life Benchmarking

    For personal use only Reserve Life Benchmarking Ravenswood 13 Syama 12 Resolute Cowal 9 Mt Rawdon 8 Mt Carlton 7 Mungari 4 Evolution Edna May 5 Cracow 2 Ernest Henry 9 Jundee 3 Kundana 5 Northern Star Kanowna Belle 3 Paulsens 1 Garden Well 5 Rosemont 5 Regis Moolart Well 2 Leonora – Gwalia 7 St Barb

11. Slide 11: Peer Benchmarking

    For personal use only Roxgold 542 Northern Star 1,134 Notes: Centamin 374 Regis 851 Source: Evolution 328 Roxgold 777 Northern Star 245 Evolution 722 OceanaGold 222 Saracen 704 Regis 212 Centamin 632 SEMAFO 192 OceanaGold 598 (1) Resource inclusive of reserve. B2Gold 191 B2Gold 503 Acacia 169 SEMAFO

12. Slide 12: FY17: Transformation Continues

    For personal use only FY17: Transformation Continues Prioritising Diversifying our sustainable dividends production base Ambition to be producing Reducing All-in-Sustaining Costs (AISC) >450kozpa through innovation from 3 operations by 2020 12

13. Slide 13: Ravenswood Gold Mine Key Statistics

    For personal use only Ravenswood Gold Mine Key Statistics Acquired 2004 Production Guidance FY17 96koz Production Post 2020 +130kozpa A$1,166/oz LOM AISC US$880/oz Total Reserves 1.8Moz Total Resources 4.3Moz 13

14. Slide 14: Mt Wright underground mine

    For personal use only Mt Wright underground mine World class sub-level cave mining method • Commissioned in 2009 • From 2011 onwards has been the primary ore source for the Ravenswood operation at ~1.5Mtpa • Expected to close during FY17 • Successfully mined in excess of 750,000oz at average grade o

15. Slide 15: Ravenswood Expansion Project

    Ravenswood Expansion Project For personal use only a long life low cost open pit operation Sarsfield Buck Reef West 1.2Moz Reserve & Nolans East NEW 0.5Moz Reserve 2.6Moz Resource 71koz Reserve &1.3Moz Resource 13 year Life of Mine All-in-Sustaining-Cost mine life A$1,166 A$134m start up capital per

16. Slide 16: Ravenswood Expansion Project: The key deposits

    Ravenswood Expansion Project: For personal use only The key deposits Mt Wright 10km 5Mtpa mill capacity 13-year operation Annual gold production 120Koz* @ AISC A$1,166 Low capex, long life mine * = LOM average 16

17. Slide 17: Ravenswood: Buck Reef West

    For personal use only Ravenswood: Buck Reef West • NEW Reserves: 19.0Mt @ 0.9g/t (0.53Moz) • Resources: 41.8Mt @ 1.0g/t (1.28Moz) • High grade at intersection with quartz- sulphide lodes. • East dip / north-east plunge to mineralisation. • Depth extension offset by late faults. • Further potential:

18. Slide 18: Syama Gold Mine Key Statistics

    Syama For personal use only Gold Mine Key Statistics Commissioned 2009 Production Guidance FY17 204koz A$1,221/oz AISC Guidance FY17 US$891/oz Mine Life Beyond 2028 Total Reserves 3.1Moz Total Resources 6.0Moz 18

19. Slide 19: Going underground at Syama

    Going underground at Syama: For personal use only developing a robust, long life flagship gold mine. Life of U/G Mine All-in-Sustaining-Cost US$881 Initial 12 year Operating life per ounce Pre-production capital of US$95 million fully funded 19

20. Slide 20: Syama: a robust, long life flagship mine

    Syama: a robust, long life For personal use only flagship mine 12 Years and Growing Mine of the Future 20

21. Slide 21: Syama: building on the success of Mt Wright

    Syama: building on the For personal use only success of Mt Wright Characteristics Mt Wright Syama UG Oz/vertical metre 2,400oz/v metre 6,300oz/v metre Tonne of stope ore/metre of development 318t/m of total development 343t/m of total development Vertical advance per year 51mpa LoM average 39mpa LoM

22. Slide 22: Bibiani Gold Project Key Statistics

    Bibiani For personal use only Gold Project Key Statistics Feasibility Study Completed June 2016 Total Reserves 0.6Moz Total Resources 1.8Moz Mining Rate 1.2Mtpa Mining Grade 3.7g/t Proposed Annual Production >100koz AISC US$858/oz Development Decision Pending 22

23. Slide 23: Bibiani: Feasibility Study confirms viable pathway to production

    Bibiani: Feasibility Study confirms For personal use only viable pathway to production. Initial Ore Reserve of Life of Mine All-in-Sustaining-Cost 5.4Mt @ 3.7g/t US$858/oz containing per ounce 640,000oz of gold Pre-production capital of US$72 million 9 month timeline to production 23

24. Slide 24: Bibiani: upside

    For personal use only Bibiani: upside • A substantial gold deposit: Ø Production to date of ~4Moz Ø 1.8Moz Total Resource • Inferred Resource of 4.5Mt @ 4.1g/t • Potential to convert to Indicated with further drilling • Inferred Resources can be accessed from planned decline – very little additional

25. Slide 25: Resolute focus on Growth: Exploration and Discovery

    For personal use only Resolute focus on Growth Exploration and Discovery • Expansion of existing inventory to drive improvements and long mine life at Syama, Ravenswood, and Bibiani • Highly prospective, underexplored tenure spread across Mali, Cote d’Ivoire, Tanzania and Australia • FY17 Exploratio

26. Slide 26: Golden Pride 1996 to 2014

    Golden Pride For personal use only 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 enviro

27. Slide 27: Invest in Resolute

    For personal use only 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 grow

28. Slide 28: Appendix 1: Updated Mineral Resources Statement 2016

    Appendix 1: Updated Mineral For personal use only Resources Statement 2016 MEASURED INDICATED INFERRED TOTAL Group share MINERAL RESOURCES 1 kt g/t koz kt g/t koz kt g/t koz kt g/t koz koz Ravenswood (Australia) 100% Sarsfield (insitu) 2 46,453 0.8 1,186 57,664 0.7 892 22,192 0.7 521 126,309 0.6 2,5

29. Slide 29: Appendix 2: Updated Ore Reserves Statement 2016

    Appendix 2: Updated Ore For personal use only Reserves Statement 2016 PROVED PROBABLE TOTAL Group share ORE RESERVES Kt g/t KOz Kt g/t KOz Kt g/t KOz KOz Ravenswood (Australia) 100% Sarsfield (insitu) 2 28,450 0.8 747 18,640 0.7 423 47,090 0.8 1,170 1,170 Nolans East 1,818 0.8 46 846 0.9 25 2,664 0.

30. Slide 30: For personal use only

    For personal use only ASX:RSG | www.rml.com.au

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