Cash Increases as Randgold Boosts Profit From Mining and Beefs up Exploration Drive

JERSEY, CHANNEL ISLANDS--(Marketwired - May 7, 2015) - RANDGOLD RESOURCES LIMITED (LSE: RRS) (NASDAQ: GOLD)

RANDGOLD RESOURCES LIMITED
Incorporated in Jersey, Channel Islands
Reg. No. 62686
LSE Trading Symbol: RRS
NASDAQ Trading Symbol: GOLD

CASH INCREASES AS RANDGOLD BOOSTS PROFIT FROM MINING AND BEEFS UP EXPLORATION DRIVE

London, 7 May 2015 - Randgold Resources increased its profit from mining by 5% to $143.9 million in the quarter to 31 March 2015 despite slightly reduced gold production of 279 531 ounces, mainly as a result of planned lower grades. Profit for the quarter of $51.3 million (2014 Q4: $54.4 million) was impacted by increased exploration expenditure and corporate costs as well as adverse exchange rate movements during the period.

Q1 results, published today, show that despite the production decrease, total cash cost per ounce came down to $708/oz, reflecting a solid operational performance. Net cash generated by the operations increased from $69.3 million to $101.7 million, and this strong cash flow, combined with decreasing capital expenditure after the completion of Kibali's first phase of construction, boosted cash on hand by 71% to $141.2 million.

Chief executive Mark Bristow said the quarter had been a very active one, with the underground mine development at Kibali advancing ahead of schedule, the continuing expansion and upgrade programme at Tongon delivering an improving performance, and Loulo moving towards full owner-operator status at its underground mines. A number of capital projects, including the construction of a second hydropower station and the commissioning of the paste backfill operation at Kibali, the medium voltage infrastructure upgrade at Loulo and the completion of the new crushing circuit at Tongon, are still in progress.

He also said that Randgold's traditional emphasis on exploration was being intensified and that the generative team had been strengthened to step up the hunt for the company's next world-class discovery.

RANDGOLD ENQUIRIES:

Website: www.randgoldresources.com

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