sale of shares

Resolute Mining Limited advises that it has sold 15.6 million Paladin Resources Ltd
shares for cash consideration of C$79.8m. This was the remaining balance of its
Paladin Resources holding following the sale announced on 4 October 2006.
Resolute Mining also advises that it has agreed to sell all of its shares, and warrants to
acquire shares, in Goldbelt Resources Ltd (TSX: GLD) to Dundee Precious Metals Inc
(TSX: DPM) for a total consideration of C$19.7 million.
The proceeds from both of these sales is C$99.5m, which is equivalent to A$116.2
million at current exchange rates.
Resolute Mining has this month now sold all its Paladin Resources and Goldbelt
holdings for total proceeds of A$196.0 million. These sales have resulted in a realised
profit for the group of approximately A$175 million, the majority of which for tax
purposes will be offset against carry forward tax losses.
‘’The proceeds from these sales place the company in a very strong financial position. It
means we are able to fund the Syama development in Mali as well as look at other
value adding options ‘’ said CEO, Peter Sullivan.