News: RSG Resolute Mining receives approval for Ravenswood Expansion Project, page-2

Resolute Mining Limited (ASX:RSG) (Resolute or the Company) is pleased to announce the Queensland Department of Environment and Heritage Protection has issued the final approved Amended Environmental Authority for the recommencement of mining at the Sarsfield open pit. The Environmental Authority is a major milestone in the governmental approval process required to progress the Ravenswood Expansion Project (REP) and includes all provisions required to recommence mining at the Sarsfield open pit. The REP will extend the Company’s local operations for a further 13 years to at least 2029, increase average annual gold production to more than 120,000 ounces, and generate Life-of-Mine All-In Sustaining Costs of A$1,166 per ounce (see ASX Announcement dated 21 September 2016). Receipt of the final Environmental Authority for Sarsfield follows the granting of Prescribed Project status to the REP by the Queensland Government (see ASX Announcement dated 1 December 2016). Managing Director & CEO, Mr. John Welborn, was delighted to receive the important environmental approval on-time and confirmed Resolute’s appreciation of the ongoing support the Company is receiving from the Queensland Government: “The Amended Environmental Approval we have received is a critically important aspect of our plans to expand production and extend the mine life of our Ravenswood Gold Mine. We have already successfully recommenced open pit mining at the nearby Nolans East pit and have increased processing capacity to 2.8 million tonnes per annum while we continue underground operations at Mt Wright. The next stage of our expansion plans require approvals to recommence mining activities at the Sarsfield open pit mine before advancing to the adjacent Buck Reef West deposit. “The approval to recommence mining at Sarsfield is a testament to our status as a responsible operator and also demonstrates the collaborative support we are receiving from the Queensland Government and local agencies. The Prescribed Project status has streamlined administrative decisions and allowed for improved communication between the various stakeholders. “The Ravenswood Expansion Project balances the important local and regional interests of heritage, environmental impacts, economic development, and community. Extending the mine life at our Ravenswood operations will help maintain long-term employment for our local workforce of approximately 280 people and provide a short-term boost of up to 100 new construction jobs. From an environmental aspect, we have incorporated a number of important improvements into our plans which have not only enhanced the future environmental outcomes, but importantly have also boosted economic outcomes. The amended approval allows us to process and place additional tailings resulting from our expansion plans using an innovative dry stacked tailing system. “We will now work with the various Queensland Government agencies, using the assistance of the Coordinator General’s department, to ensure the remaining approvals we require, most importantly for open pit mining to commence at Buck Reef West, are also received on a timely basis”. 2 Ravenswood Expansion Project During 2016 Resolute completed a feasibility study for the REP which established a 13-year mine life for the operation based on a return to large scale open pit mining at the Nolans East, Buck Reef West and Sarsfield deposits. The REP outlined the following development sequence:  Mt Wright underground operations continuing until eventual closure during 2017:  Open pit mining recommenced from Nolans East and continuing during 2017;  Processing capacity increased to 2.8 million tonnes per annum (Mtpa);  Regulatory approvals for recommencement of mining at Sarsfield obtained in March 2017;  Regulatory approvals for open pit mining of Buck Reef West expected in mid-2018; and  Expansion of the mill to 5.0Mtpa from FY2018.