Resolute Mining : Syama Drilling Results

Syama Drilling Results.docx

8 February 2016 Syama Drilling Results

• Infill drilling results have been received for diamond holes testing upper levels of the proposed Syama underground development. Significant results included:

  • SUDD012 43m @ 6.4g/t Au from 118m to End of Hole
  • SUDD011 70m @ 3.8g/t Au from 33m o SUDD015 36m @ 7.0g/t Au from 51m o SUDD014 79m @ 3.2g/t Au from 66m o SUDD018 72m @ 2.9g/t Au from 136m o SUDD021 48m @ 4.4g/t Au from 67m o SUDD007 17m @ 8.3g/t Au from 74m

• The infill results extend the mineralised footprint and provide confidence that the Syama underground reserve estimate can be enhanced in the upper levels of the proposed development.

• Results have been received for the first hole of the resource extension drilling program and have confirmed the potential for significant future resource growth at Syama:

  • SYRD428 32m @ 2.7g/t Au from 323m; and 13m @ 3.1g/t Au from 377m.

    
    

    
    

    Resolute Mining Limited (ASX: RSG, "Resolute" or the "Company") is pleased to report results for the recently completed infill diamond drilling program undertaken at the Syama Gold Mine in Mali. The program commenced in October 2015 and comprised 18 holes designed to confirm and enhance the confidence of the mineral reserve in the upper levels of the proposed Syama underground development. Assay results have been returned for the first 15 holes which are reported in this announcement with the remaining results expected during the current quarter.

    The drilling results extend the mineralised footprint and provide confidence that the Syama underground reserve estimate can be enhanced. The program was designed to provide drilling data in gaps between previous holes and to target a shadow area directly beneath the completed open pit. This area was historically sparsely drilled due to the difficulty of targeting shallow angled holes beneath the open pit with surface drilling. An electric powered underground diamond drill rig was used to improve the targeting and orientation of drilling within the limited space along the open pit haulage ramp. Drilling focused on a 250m section of the broader, high grade, northern area within the extensive mineralised strike of the Syama orebody.

    Commenting on the assay results Managing Director and CEO, Mr John Welborn, indicated the recent and current drilling programs confirm that Syama is a world class ore body that will continue to grow.

    "The Syama Underground PFS published in June 2015 demonstrated Resolute has the opportunity to develop a long life robust underground operation at Syama. Our current ore reserve is a wide rich ore body with limits that are yet to be defined. We know that the ore we mined at the bottom of the open pit graded in excess of 3.2g/t. Today's results

    
    

    confirm that we can expect the early years of the underground operation to produce ore of a similar grade profile. The infill drilling program and the deep resource extension drilling program are part of a commitment to enhance the economics of the Syama Underground Project."

    Results have been reported in accordance with the 2012 JORC code and a comprehensive listing of assay results is provided in the attached appendices, including the JORC Table 1 report.

    Significant assay results received for the infill drilling campaign above 60 gram-metres include:

• SUDD005 22m @ 3.12g/t Au from 108m

• SUDD007 7m @ 10.09g/t Au from 49m; and

  17m @ 8.29g/t Au from 74m.

• SUDD008 15m @ 4.07g/t Au from 1m

• SUDD011 23m @ 3.64g/t Au from 6m;

  70m @ 3.79g/t Au from 33m; and 27m @ 4.32g/t Au from 110m.

• SUDD012 26m @ 3.45g/t Au from 49m

• SUDD013 42m @ 6.40g/t Au from 118m to End of Hole

• SUDD014 79m @ 3.17g/t Au from 66m

• SUDD015 36m @ 7.02g/t Au from 51m

• SUDD016 36m @ 3.26g/t Au from 94m

• SUDD018 30m @ 2.46g/t Au from 100m; and

  72m @ 2.92g/t Au from 136m.

• SUDD019 21m @ 3.33g/t Au from 98m

• SUDD020 22m @ 3.12g/t Au from 108m

• SUDD021 48m @ 4.38g/t Au from 67m; and

17m @ 4.76g/t Au from 142m.

Note: Intersections are reported as down hole length and not true width using a 1.0g/t cutoff and up to 3 continuous metres of internal waste.

Figure 1: Syama Infill Drilling Program drill hole plan

The drill hole plan in Figure 1 displays the location of the infill drilling program relative to the recently completed Syama open pit mine. The drill cross sections below highlight that the completed infill drilling program has both confirmed and enhanced the orebody geometry and grade anticipated in the upper levels of the scheduled underground mine plan.

Figure 2: Cross Section 23300mE

Figure 3: Cross Section 23525mE

Figure 4: Cross Section 23475mE

Figure 5: Cross Section 23500mE

The completion of this successful infill drilling program has overlapped with the recommencement of deep exploration drilling as part of the resource extension program. An initial program of 10,000 metres commenced in December 2015 and has been designed to test the limits of the open underground mineralisation down plunge and along strike, with the aim of expanding the mineral resource available for future mining. High grade mineralisation at Syama