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ACN 097 088 689 01

10 January 2012

ISSUE OF SHARES

As a result of the exercise of listed options and conversion of convertible notes, Resolute Mining has issued and allotted 1,845,123 fully paid ordinary shares at an average issue price of $0.59 per share. The remaining listed options have lapsed and the remaining convertible notes redeemed.

In accordance with the shareholder approved Resolute Mining Limited Employee Share Option Plan, Resolute Mining has issued 823,200 unlisted share options to employees with an exercise price of $1.85 per share and a 5 year term.

Attached is a copy of the Appendix 3B containing these changes. For and on behalf of the Board

GREG FITZGERALD Company Secretary

Appendix 3B

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002.

Name of entity

Resolute Mining Limited

ABN

39 097 088 689

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be issued

Fully paid ordinary shares ("Shares")

Unlisted options to acquire fully paid ordinary shares ("Options")

2 Number of +securities issued or to be issued (if known) or maximum number which may be issued

Shares - 122,000 (as a result of convertible note holder conversion notices)

Shares - 1,723,123 (as a result of the exercising of listed share options)

Options - 823,200

3 Principal terms of the +securities (eg, if options, exercise price and expiry date; if partly paid

+securities, the amount outstanding

and due dates for payment; if

+convertible securities, the conversion price and dates for conversion)

Shares issued rank equally with existing Shares.

The Options have an exercise price of $1.85 and an expiry date of 26 January 2017. Upon conversion into Shares, they will rank equally with existing Shares.

4 Do the +securities rank equally in all respects from the date of allotment with an existing +class of quoted

+securities?

If the additional securities do not rank equally, please state: