SOURCE: Randgold Resources Ld

October 24, 2012 09:11 ET

Mills head to Kibali as development progresses

JERSEY, CHANNEL ISLANDS--(Marketwire - Oct 24, 2012) -

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

MILLS HEAD TO KIBALI AS DEVELOPMENT CONTINUES APACE

Kinshasa, DRC, 24 October 2012 - Indicative of the steady progress
being made with the development of the Kibali gold project, two giant 7
megawatt mills are currently being trucked halfway across Africa, from
the east coast port of Mombasa to the mine site at Doko in the north
east of the Democratic Republic of Congo. The Kibali mine will be one
of the largest of its kind in Africa when it pours its first gold,
scheduled for the end of 2013.

The mills, a key component of the production plant at Kibali, are each
being transported in three massive sections. Each mill weighs
170tonnes and is 9.5 metres long and 6.1 metres in diameter and when
installed will be capable of milling a combined 7.2 million tonnes a
year. Manufactured in Europe, they were landed at the port of Mombasa
on 20October and are due to arrive at the mine site at the end of
November after a 1800 kilometre road trip. The mills are expected to
be set on their foundations at the plant early next year.

In the meantime, open pit mining is already underway at Kibali. In
addition, the box cut for the project's underground twin decline
section is almost complete and in the fourth quarter of this year work
is scheduled to start on the development of the twin declines and the
sinking of the vertical shaft. The relocation programme, designed to
rehouse the villagers from the mine area in the new model Kokiza
village, is also progressing rapidly. New houses are being built at
the rate of 45a week and more than 1000 families have been resettled
to date. This means that the whole mine footprint has now effectively
been cleared for development.

Kibali is being developed by project co-owner RandgoldResources, which
will also operate the mine. Randgold already operates the Morila mine
and the Loulo-Gounkoto complex in Mali as well as the Tongon mine in
Coted'Ivoire.

Randgold chief executive Mark Bristow said that once in production,
Kibali would prove an enormous boon to the DRC, generating economic
welfare through the payment of dividends and taxes to the State, which
has a 10% stake in the project, as well as creating jobs and a demand
for support services for local businesses."It's a great example of what can
be achieved in Africa when an
investor-friendly government partners with a mining company in a
long-term commitment to the sustainable creation and sharing of
wealth," he said.

ENQUIRIES:

Mark Bristow, Kibali chairman &    Willem Jacobs, Randgold GM operations
Randgold Resources CEO             Central & East Africa
+223 6675 0122 / +44 788 071 1386  +243 991 001 222

Louis Watum, GM Kibali Goldmines   Kathy du Plessis, Randgold investor &
+243 994 035464 / +243 817 153 062 media relations
                                   +44 20 7557 7738 /
                                    randgoldresources@dpapr.com 

Website:  www.randgoldresources.com 

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the
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 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 2011 which was filed with the US
Securities and Exchange Commission (the 'SEC') on 31 March 2012.
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

END

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