Name and Location
Gounkoto gold project, Mali.

Project Description
The Gounkoto project is located 25 km south of Randgold Resource’s Loulo complex, in Mali.

The Gounkoto project has been found favourable in terms of its quality, grade, simple metallurgy and lack of fatal flaws in environmental studies.

Owing to the fact that the project meets all the necessary criteria, it is being fast-tracked.

Four assessments are being considered for the project.

Assessment 1 is based on a $700/oz mineral reserve pit, with a one-year prestrip and a 100 000-t/m plant throughput.

Assessment 2 is in accordance with Assessment 1 plus the Faraba and P64 scoping pits, with a two-year prestrip and a 150 000-t/m plant throughput.

Assessment 3 is in accordance with Assessment 2 plus the underground scoping, with a two-year prestrip and a 150 000-t/m plant throughput.

Assessment 4 is based on the prefeasibility study completed at the end of the first quarter of 2010, plus the Faraba and P64 scoping pits and the underground scoping (as in Assessment 3), but processed through the Loulo plant at an average of 100 000 t/m.

Value
Assessment 1 will involve capital expenditure (capex) of $207-million;
Assessment 2, a capex of $254-million;
Assessment 3, a capex of $496-million; and
Assessment 4, a capex of $271-million.

Duration
First gold is expected early in 2013.

Client
Randgold Resources.

Key Contracts and Suppliers
None stated.

Latest Developments
Randgold Resources reports that work on the Gounkoto feasibility study, which is due for completion by the end of the year, has resulted in a doubling of its mineral resources, which, at the attributable level, now stand at 4,61-million indicated and inferred ounces, while the attributable openpit reserves have increased by 43%, to 1,87-million ounces.

Meanwhile, the plan to include the project as part of the Loulo complex is currently being progressed.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Randgold Resources group corporate communications manager Lois Wark, tel +44 207 557 7745 or email lwark@randgoldresources.com; or investor and media relations, Kathy du Plessis, tel +44 207 557 7738 or email randgoldresources@dpapr.com.