Randgold Resources Limited: Looking for More in Mali

JERSEY, CHANNEL ISLANDS--(Marketwired - Feb 2, 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

LOOKING FOR MORE IN MALI

Loulo, Mali, 2 February 2015  -  With its Loulo-Gounkoto gold mining complex continuing to grow production, Randgold Resources is looking at the development of a third underground mine there while at the same time expanding its footprint elsewhere in the region, chief executive Mark Bristow said here today.

Bristow, who is leading a group of international investors on Randgold's annual tour of its West and Central African operations, said a feasibility study on an underground mine at Gounkoto had been completed and its findings would be made known when the company publishes its 2014 results later this month.

The complex, which already ranks among the largest and most mechanised of its kind on the African continent, is targeting to increase gold production from its existing Yalea and Gara underground mines and the Gounkoto open pit mine this year, with the underground operations providing some 60% of the ore feed to its mills. In line with Randgold's policy of employing, training and advancing the host country nationals, the complex's entire management and, apart from a handful of key artisans and corporate skills, most of the workforce is Malian.

"Regardless of the potential Gounkoto underground mine, subject to the gold price remaining at current levels, the complex is forecast to up its profitability from its existing mining activities through increased production and reduced unit costs on the back of higher grades, improved recoveries and the benefits of its ongoing capital projects," Bristow said. He noted that as things stood, Loulo-Gounkoto had reserves in excess of 8 million ounces of gold.

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RANDGOLD ENQUIRIES

Website: www.randgoldresources.com