Resource Generation : Response to newspaper article

8 January 2019

Response to newspaper article

Resolute Mining Limited (Resolute or the Company) (ASX: RSG) notes an article in today's Australian Business Review in relation to the Ravenswood Gold Mine.

Resolute has not made any decision in relation to the spin-off or sale of its Ravenswood Gold Mine in Queensland. Resolute expects to undertake a strategic review of Ravenswood in the first half of 2019.

The Company will keep shareholders informed of the progress of the review and of any decisions regarding its future ownership of Ravenswood.

For further information, contact:

John Welborn

Jeremy Meynert

Managing Director & CEO

General Manager - Business Development & Investor Relations

About Resolute

Resolute is a successful gold miner with more than 28 years of experience as an explorer, developer, and operator of gold mines in Australia and Africa. The Company has operated nine gold mines which have produced more than 8 million ounces of gold. Resolute currently owns three gold mines, the Syama Gold Mine in Mali (Syama), the Ravenswood Gold Mine in Australia (Ravenswood) and the Bibiani Gold Mine in Ghana (Bibiani). For the financial year ending 30 June 2019, Resolute expects to produce 300,000 ounces of gold at an All-In Sustaining Cost of US$960/oz (A$1,280/oz). The Company has a pathway to annual gold production in excess of 500,000oz from a Global Mineral Resource base of 16.5 million ounces.

Syama is a world class, robust, long-life asset capable of producing more than 300,000 ounces of gold per annum from existing processing infrastructure. Resolute is currently developing the world's first fully automated underground underground gold mine at Syama which will deliver a low cost, large scale operation with a mine life beyond 2032.

Ravenswood has been a consistent performer and an integral part of Resolute's business for more than a decade. The highly successful Mt Wright Underground Mine continues to produce as the Company transitions back to a large scale, low cost open pit mining operation which will extend the mine life to at least 2032.

Bibiani is a potential long life, high margin operation and represents a growth opportunity for Resolute.

Resolute is actively exploring over 5,300km2 of potential world class tenure in Africa and Australia searching for opportunities to expand and improve the Company's operations. A portfolio of strategic investments in highly prospective, well managed African-focused gold exploration companies has been established to provide a pipeline of future development opportunities.

ASX:RSG Capital Summary

Fully Paid Ordinary Shares: 757,512,088 Current Share Price:

A$1.20 as at 7 January 2019

Market Capitalisation: A$909 million

FY19 Guidance: 300,000oz @ AISC US$960/oz (A$1,280/oz)

Board of Directors

Mr Martin Botha Non-Executive Chairman Mr John Welborn Managing Director & CEO Ms Yasmin Broughton Non-Executive Director Mr Mark Potts Non-Executive Director

Ms Sabina Shugg Non-Executive Director Mr Peter Sullivan Non-Executive Director

Contact

John Welborn Managing Director & CEO Jeremy Meynert GM - BD & IR

Level 2, Australia Place | 15-17 William St Perth, Western Australia 6000

T: [phone] | F: [phone] E:[e-mail]

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