SOURCE: Randgold Resources

April 21, 2005 04:03 ET


Jersey, Channel Islands -- (MARKET WIRE) -- April 21, 2005 --Randgold Resources Limited

Incorporated in Jersey, Channel Islands

Reg. No. 62686

LSE Trading Symbol: RRS

Nasdaq Trading Symbol: GOLD


Zurich, Thursday 21 April 2005 - London and Nasdaq listed gold miner Randgold Resources said today its attributable resource base had grown by more than 20% from less than 8 million ounces at the end of 2003 to 10.02 million ounces a year later.

Addressing the European Gold Forum in Zurich, Randgold Resources CEO Dr Mark Bristow said the main contributor to the increase at the company's Loulo project in Mali had been deep drilling of the Yalea orebody where total measured, indicated and inferred resources now stood at 5.2 million ounces for that ore body alone. Total resources for the project, when Loulo 0 is included, are now a robust 8 million ounces. The ongoing drilling forms part of a study, currently being completed by SRK Consulting, on the development of underground operations on both orebodies to boost the Loulo open-cast mine which was scheduled to start producing gold in July this year, he said.

At the company's Morila joint venture, also in Mali, drilling of the MSZ extension to the main orebody has resulted in the partial replacement of the resources depleted by the mining operation during the year. More drilling is planned to convert the additional resources to the reserve category.

Overall, the company's attributable reserves increased slightly to 2.51 million ounces, mainly on the back of an increase in the Loulo reserve from 1.42 million ounces to 1.85 million ounces. Significantly, the higher-confidence proved-reserve category makes up 66% of attributable proved and probable reserves.

"The substantial resource growth at Yalea has vindicated the company's high expectations of the Loulo project and we are still bullish on the prospects of finding more in this region," said Bristow.

"The orebody has passed the 5 million ounce mark and is still growing, construction of the open-cast mine is on schedule and the latest drilling results confirm the potential for the development of long-life underground mines to exploit the extensions of the Yalea and Loulo 0 pits. Meanwhile, we are also expanding our footprint in other prospective areas to further increase our resource base through organic growth," he said.

(at 31 December 2004)

Category             Tonnes         Grade         Gold        Attributable
                     (Mt)           (g/t)       (Mozs)         Gold (Mozs)

Mineral Resources

Measured and Indicated 29.28          3.20          3.01           1.20
Inferred                4.47           3.79          0.54           .22

Sub-total              33.75          3.28          3.55           1.42
Measured, Indicated 
and Inferred

Measured and Indicated 23.34          3.95          4.21           3.37
Inferred               26.31          4.53          3.83           3.06

Sub-total              59.48          4.20          8.04           6.43
Measured, Indicated 
and Inferred


Sub-total              34.00          2.65          2.89           2.17

Total Resources
Measured and Indicated 52.62          4.27          7.22           4.57
Inferred               64.79          3.49          7.27           5.45
Measured, Indicated and 
Inferred              117.41         3.84          14.49          10.02

Ore Reserves

Morila                 25.79          3.11          2.58           1.03
Proved and Probable

Loulo                  15.18          3.78          1.85           1.48
Proved and Probable

Total Ore Reserves     40.97          3.36          4.42           2.51
Proved and Probable


Chief Executive                  -  Dr Mark Bristow +44 779 775 2288

Financial Director               -  Roger Williams +44 791 709 8939

Investor & Media Relations       - Kathy du Plessis +27 11 728 4701, 
                                   Cell: +27 (0) 83 266 5847


DISCLAIMER: Statements made in this document with respect to Randgold Resources' current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward looking statements about the future performance of Randgold Resources. These statements are based on management's assumptions and beliefs in light of the information currently available to it. Randgold Resources cautions you that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, and therefore you should not place undue reliance on them. The potential risks and uncertainties include, among others, risks associated with: fluctuations in the market price of gold, gold production at Morila, the development of Loulo and estimates of resources, reserves and mine life. For a discussion on such risk factors, refer to the annual report on Form 20-F for the year ended 31 December 2003, which was filed with the United States Securities and Exchange Commission (the 'SEC') on 30 June 2004. Randgold Resources assumes no obligation to update information in this release. 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 part 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.

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