SOURCE: Randgold Resources Ld

March 31, 2010 06:07 ET

Randgold Resources Limited: Foundation laid for next growth stage

JERSEY, CHANNEL ISLANDS--(Marketwire - March 31, 2010) -

Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
Nasdaq Trading Symbol: GOLD


London, 31 March 2010 - Randgold Resources last year laid the
foundation for its next growth stage, says chairman Philippe Lietard in
the company's 2009 annual report published today.

Lietard says the company's record results for 2009 - which included a
79% profit surge - had demonstrated again the effectiveness of its
strategy, which was focused on the long term creation of value rather
than on seizing short term gains."In 2009 Randgold was able to pluck some
of the fruits of its past investments in the discovery and development of
profitable gold projects, as well as in people and partnerships. By the
same token, we believe that the work done during the past year will deliver
its rewards in times to come," he says."In 2009, the foundations were laid,
through organic development as well as acquisition, for the next stage in
the company's growth. At this raised level, Randgold's horizons are being
broadened significantly on every front: the geographical spread of its
activities; its resource base and production profile; and the reach of its

Lietard said Randgold believed the ideal model for successful and
sustainable mining in Africa was that of a partnership between the
company, its investors and the host government. The company's results
for the past year had again demonstrated how effective this approach
could be.

Also in the annual report, chief executive Mark Bristow says that while
2010 will be another very challenging year for the company, it was
confident of achieving the goals it had set itself.

These include boosting annual production at its Loulo complex in Mali
to 400000 ounces through the full ramp-up of the Yalea underground
development; starting work on the Gara underground mine at Loulo;
commissioning the new Tongon mine in Cote d'Ivoire for first
production in the fourth quarter of this year; advancing the Gounkoto,
Massawa and Kibali projects; and maintaining the flow of quality
targets into its prospect pipeline.

Bristow notes that last year's Moto acquisition had given Randgold a
45% stake in the Kibali project in the Democratic Republic of the
Congo, which could become one of the world's great gold mines. It has
also achieved the strategic objective of extending the company's
presence into Central Africa, which it had targeted as a gold region
with great potential."The excitement generated by the Moto/Kibali
acquisition will not, however, distract us from our key strategy of organic
growth through exploration success, and our primary objective is still to
create value through the development of profitable mining projects," he

Randgold today also announced a 69% increase in its total mineral
resources and a 75% rise in attributable reserves for the year to
December 2009. The company's annual resource and reserve declaration,
published as part of the annual report, shows that at the attributable
level, the measured, indicated and inferred resources grew from 16.13
million ounces to 27.33 million ounces while proved and probable
reserves rose from 8.87 million ounces to 15.56 million ounces.
Bristow noted that with its average reserve grade now above 4 g/t
(excluding Morila which is no longer an operational mine) Randgold had
not only increased the size but also enhanced the quality of its asset

The annual report was posted to shareholders today and is available for
viewing and/or downloading at Once Randgold
has filed its Form 20-F report for the 12 months ended 31 December 2009
with the US Securities and Exchange Commission ('SEC') later today,
that report will also be published on the company's website.


Chief executive  Financial director  Investor & Media Relations
Dr Mark Bristow  Graham Shuttleworth Kathy du Plessis
+44 788 071 1386 +44 1534 735 333    +44 20 7557 7738
+44 779 775 2288                     Email:
                 +44 779 614 4438



Randgold Resources is an African focused gold mining and exploration
company with primary listings on the London Stock Exchange and Nasdaq.
Major discoveries to date include the Morila deposit in southern Mali,
the Yalea deposit and the Gounkoto deposit, both in western Mali, the
Tongon deposit in the Cote d'Ivoire and the Massawa deposit in eastern

Randgold Resources financed and built the Morila mine which since
October 2000 has produced more than 5.5 million ounces of gold and
distributed more than US$1.5 billion to stakeholders. It also financedand
built the Loulo operation which started as two open pit mines in
November 2005. Since then, an underground mine has been developed at
the Yalea deposit and construction of a second underground operation is
underway at the Gara deposit. First gold production from the company's
new mine being developed at Tongon is scheduled for the fourth quarter
of 2010.

Randgold's current major projects are Gounkoto on the Loulo permit in
Mali, Massawa in Senegal and Kibali in the Democratic Republic of the
Congo. In 2009 the company acquired a 45% interest in the Kibali
project, which now stands at 9.2 million ounces of reserves and is one
of the largest undeveloped gold deposits in Africa. Randgold also has
an extensive portfolio of organic growth prospects, which is constantly
replenished by intensive exploration programmes in Burkina Faso, Cote
d'Ivoire, DRC, Mali and Senegal.

historical information contained herein, the matters discussed in this
news release are forward-looking statements within the meaning of
Section 27A of the US Securities Act of 1933 and Section 21E of the US
Securities Exchange Act of 1934, and applicable Canadian securities
legislation. Forward-looking statements include, but are not limited
to, statements with respect to the future price of gold, the estimation
of mineral reserves and resources, the realisation of mineral reserve
estimates, the timing and amount of estimated future production, costs
of production, reserve determination and reserve conversion rates.
Generally, these forward-looking statements can be identified by the
use of forward-looking terminology such as 'will', 'plans', 'expects'
or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates',
'forecasts', 'intends', 'anticipates' or 'does not anticipate', or
'believes', or variations of such words and phrases or state that certain
actions, events or results 'may', 'could', 'would','might' or 'will be
taken', 'occur' or 'be achieved'. Assumptions upon which such forward-
looking statements are based are in turn based on
factors and events that are not within the control of Randgold and
there is no assurance they will prove to be correct. Forward-looking
statements are subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of Randgold (including Kibali) to be
materially different from those expressed or implied by such
forward-looking statements, including but not limited to: risks related
to the integration of Randgold and Moto, risks related to mining
operations, including political risks and instability and risks related
to international operations, actual results of current exploration
activities, conclusions of economic evaluations, changes in project
parameters as plans continue to be refined, as well as those factors
discussed in the section entitled 'Risk Factors' in Randgold's annual
report on Form 20-F for the year ended 31 December 2008 which was filed
with the US Securities and Exchange Commission (the 'SEC') on 15 May
2009, and in the section entitled 'Risk Factors' in Randgold's
prospectus published on 30 November 2009 in relation to the indirect
acquisition of 10 per cent of the issued capital of Kibali Goldmines
SPRL. Although Randgold has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking statements. Randgold does
not undertake to update any forward-looking statements herein, except
in accordance with applicable securities laws. CAUTIONARY NOTE TO US
INVESTORS: the SEC permits companies, in their filings with the SEC, to
disclose only proven and probable ore reserves. We use certain terms
in this release, such as 'resources', that the SEC does not recognise
and strictly prohibits us from including in our filings with the SEC.
Investors are cautioned not to assume that all or any parts of our
resources will ever be converted into reserves which qualify as 'proven
and probable reserves' for the purposes of the SEC's Industry Guide
number 7.

                    This information is provided by RNS
          The company news service from the London Stock Exchange


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