RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLD RANDGOLD FORECASTS SIGNIFICANT PRODUCTION INCREASES AND UNIT COST REDUCTIONS London, 31 March 2011 - Randgold Resources is projecting significant production increases and reductions in cash cost per ounce driven by forecast improvements in grade and new mine developments over the next five years, says chief executive Mark Bristow in the company's annual report for 2010, published today. Group production for 2011 was expected to increase by more than 70% over 2010 to between 750000 and 790000 ounces of gold, and management was targeting total cash costs, after royalties and taxes, of less than US$600/oz, Bristow said. The recently commissioned Tongon is scheduled to produce 260000 to 270000 ounces while the Loulo complex's production is expected to be 420000 to 440000 ounces, of which some 120000 ounces will be contributed by the new Gounkoto mine development in the latter half of the year. The Morila joint venture should produce 200000 to 210000 ounces. Bristow cautioned, however, that this forecast was subject to exchange rates and input costs remaining at last year's levels, and to the political impasse in Cote d'Ivoire not impacting to a greater extent on the Tongon mine. He also said that the company's focus on efficiencies and costs would have to be even tighter than usual, particularly in the first half of the year. Reviewing the past year, Bristow said it had been even more challenging than anticipated but despite some daunting operational and political obstacles, the company had increased its profit by 43%. "More importantly, it kept intact its strategy of creating real stakeholder value in the African gold industry, delivered on some very demanding objectives and remained firmly on course to achieve its future growth targets," he said. Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/9655D_1-2011-3-30.pdf RANDGOLD RESOURCES ENQUIRIES Chief Executive Financial Director Investor & Media Relations Mark Bristow Graham Shuttleworth Kathy du Plessis +44 788 071 1386 +44 1534 735 333 +44 20 7557 7738 +44 779 775 2288 +44 779 771 1338 Email: randgoldresources@dpapr.com Website:www.randgoldresources.com This information is provided by RNS The company news service from the London Stock Exchange END
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