Randgold Resources Signs Letter of Intent to Sell Interest in Kiaka Gold Project


LONDON--(Marketwire - September 8, 2009) - Randgold Resources (LSE: RRS) (NASDAQ: GOLD) has signed a letter of intent with Volta Resources Inc ("Volta") (TSX: VTR) to sell its entire interest in the Kiaka gold project in Burkina Faso to Volta for an aggregate cash consideration of CAN$4 million and an aggregate share consideration of 20 million common shares in Volta, to be paid and issued over a period of 24 months following the closing of the disposal.

The Toronto-based and TSX-listed Volta is a mineral exploration company with a strong focus on gold properties in West Africa, where it has active programmes in Burkina Faso, Ghana and Mali.

Randgold chief executive Mark Bristow said that with the expansion of its existing Loulo complex, construction of its new mine at Tongon and its advanced Massawa and Gounkoto projects, the company already had a full development pipeline.

"While Kiaka has considerable potential, it does not currently fit Randgold Resources' development profile and is better suited to Volta, which has a strong team and a good track record in the region," he said.

Bristow noted that following the completion of the transaction, Randgold Resources would be a significant shareholder in Volta and would therefore retain its involvement with Burkina Faso and the Kiaka project.

Closing of the agreement is subject to the completion of a definitive agreement within 30 days from the execution of the letter of intent, during which period Volta will carry out its final due diligence. The transaction will also be conditional upon the approval of Volta shareholders, receipt of third party consents and regulatory approvals, including the approval of the Toronto Stock Exchange.

Website: www.randgoldresources.com

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Contact Information: RANDGOLD RESOURCES ENQUIRIES Chief Executive Dr Mark Bristow +44 788 071 1386 +1 307 699 3564 Financial Director Graham Shuttleworth +44 1534 735 333 +44 779 614 4438 Financial Adviser to Randgold ARBUTHNOT SECURITIES John Prior/Ed Gay +44 20 7012 2100 Investor & Media Relations Kathy du Plessis +44 20 7557 7738 RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLD