1

Paul Harbidge, Randgold Resources

New Gengold Nov 2013

The Giant Kibali gold deposit…in Northeast Democratic Republic of Congo:

evidence to support Central Africa as the new

location for the next generation of multi-million

ounce gold deposits

Major Gold Bearing Cratons of Africa…

Kibali Gold

Project

N

1000km

2

West Africa Craton…early 1990s

Syama

Prestea

Obuasi

Tarkwa

Lero

Ity

Afema

AngoviaGold mines

Birimian Basinal sediments

Birimian Belt

Proterozoic Plutonic Rocks

N

500km

West Africa Craton…today

Gold mines

Birimian Basinal sediments

Birimian Belt

Proterozoic Plutonic Rocks

Mali BurkinaFaso

IvoryCoast

Ghana

Senegal

Youga

Yatela

Sadiola

Yalea

Gara

Sabodala

MorilaSiguiri

Syama

Tongon

Kalana

Ity

Bonikro

Prestea

Chirano

Bibani

Ahafo

Akyem

Obuasi

Damang

Tarkwa

Essakane

Mana

Kalsaka

Taparko

Inata

Lefa

TabakotoMassawa

Gounkoto

Côte d’Ivoire

N

500km

3

Congo Craton…today

!

!!

!

!

!

!

!

!

Kibali21.5Moz

DRC

500km

ProterozoicArchean

Kilo Goldmines2Moz

Zani Kodo1.2Moz

Mongbwalu

2.2Moz

Twangiza

5 Moz

Major gold

occurrences

N

NE DRC…challenging infrastructure

Before, during and after the repair of the main road from Uganda into the Kibali project

4

Kibali…history

1903… First gold discovery in the territory of a local chief named Kilo

by Australian prospectors Hannan and O’Brien, working under direction of

the Government of the Independent State of Congo

1904… Beginning of gold production in north eastern DRC

1905 – 1906… Gold discovery to the northwest in the gravel beds of Moto River

1926… Organisation created by Belgian Government to operate these deposits

became la Société des Mines d’Or de Kilo-Moto

1950’s… Annual production culminates to about 9 tons of fine gold

After 1960: Gold production plummeted

1966… The name of the Société was changed to Office des Mines d’Or de Kilo-

Moto or OKIMO

Since 1990… Annual production less than 100 kg of gold. Total recorded historic output

of the region comes to 350 tons

1998… Barrick and AngloGold in JV over project area, discovery of Kibali deposit

2002… New attractive Mining Code in place, with the baking of the World Bank

2004… Moto Goldmines acquires the Kibali Project and discover main KCD

deposit and define ~20Moz

2009… Randgold Resources and Anglogold Ashanti acquire Moto Goldmines

and the Kibali Project

2012… Development of Kibali starts

2013… First gold poured on 24th September and commercial production commenced in

October

Old Gorumbwa Open pit – 1950’s

History…Moto Goldfields

5

Kibali…geology and geophysics

Magnetic Radiometric

Electromagnetic Geology

KCDN

60km

Kibali…central area aeromagnetic data

KCD Ironstone

Pakaka

Mengu HillN

5km

6

Kibali…Geological Model

KCD

3D Looking SW

Durba

9000

5000 3000

NE

NE

East

Transfer

Structure

Examples of S1 foliation being folded (F2) into

‘rods’ and younger crenulation. Develops at all

scales

Intersection lineation is parallel to the long axis

of mineralised lenses of the gold deposits

Kibali…Main KCD deposit

3000 Lode 5000 Lode

Long section9000 Lode

500m

7

Kibali…KCD deposit cross sectiongeology and structure

Kibali…KCD deposit cross sectionalteration and mineralisation

8

Kibali…KCD deposit alteration

Pervasive silicate-carbonate flooding, which predates D2 mineralization

Quartz-ankerite-siderite, plus minor sericite-albite

Several alteration events

1 mm

100 µm

XPL photomicrograph

Carb

Qtz

Back-scattered electron image (Sd =

siderite; ank = ankerite; qtz = quartz)

Sd

Ank

Qtz

Kibali…KCD deposit mineralisation

Four stages of sulphide growth, with the majority of Au linked to stage 2 pyrite

Stage 1:

pyrrhotite-

arsenopyrite

Stage 2 (>85%):

arsenian pyrite +

Au + accessory

Cu-Sb-Ni-Pb

sulphides

Stage 3: second

local generation

of pyrrhotite (As-

depleted)

Stage 4: second

local generation

of skeletal pyrite

(As-depleted)

Asp

Po-I

Po-I

Py-I

Po-II

Py-IPy-I

Py-II

Reflected light images

150 µm 150 µm

150 µm 150 µm

9

Kibali…KCD deposit mineralisation

150 µm

150 µm 200 µm

Back-scattered electron image

Reflected light image Reflected light image

Marcasite + galena Sphalerite

Ullmannite

100 µm 100 µm

50 µm

Py-I

Mrc

Gn

SpPy-I

Py-I

Um

Back-scattered electron images

Kibali…KCD deposit mineralisation

Auriferous pyrite is associated with numerous trace Cu-(As-Sb),Pb-Zn-(Sb), and Ni phases

10

Kibali…KCD gold deportment

150 µm

150 µm 100 µm

100 µm

Kibali…KCD alteration and mineralisationparagenesis

Hydrothermal alteration consists of: ankerite + later siderite + quartz + sericite

Sulphide assemblages include: (1) early pyrrhotite + arsenopyrite; (2) pyrite +/- Cu phases and gold; (3) later second generation pyrrhotiteand skeletal pyrite

11

Kibali…building value through Integrated Geology and MRM

Acquired total mineral resource inventory of 22.0Moz from Moto (2009), 5.5Moz reserves

Completed mapping, re-logging of core, drilling of key oriented holes, developed geologic models, updated resource models and applied economic criteria

Inventory reduced to 18.9Moz but increased reserves to 10.9Moz (2012)

Inventory increased by 2.5Moz to 21.5Moz (Q2 /’13)

Excluding 1.1Moz low grade Kibali South (to Sokimo)

New geologic model being used to prepare new mining model and update reserves

2009 3D View Looking NW

Sessenge

Durba Chauffeur Karagba

400m

Sessenge

9000

Lode

800m Deep

5000

Lode3000

Lode

Durba

2013 3D View Looking WNW

Kibali…project resources and reserves

Measured

Measured

Indicated

Inferred

Indicated

Inferred

Meas/Ind

Inferred

2.11

4.21

74.39

21.17

67.90

30.73

148.61

51.90

2.13

2.97

2.11

2.16

5.20

3.10

3.55

2.72

0.14

0.40

5.04

1.47

11.35

3.06

16.94

4.53

Mt g/t Moz

Stockpiles

Open pit

Underground

Total Mineral Resources

Proven

Proven

Probable

Probable

Prov/Probab

3.20

3.00

39.00

44.00

89.20

2.30

2.80

2.50

5.70

4.10

0.20

0.30

3.10

8.00

11.60

Stockpiles

Open pit

Underground

Total Mineral Reserves

12

Kibali KCD deposit…potential resource addition

DDD574 – 3000 up

4m @ 0.88g/t

DDD574 – 5000 up

7m @ 3.16g/t

DDD587 – 3000 up

9.2m @ 1.09g/t

DDD532 – 5000 up

31.8m @ 3.21g/t

DDD587 – 5000 low

12.4m @ 4.54g/t

DDD587 – 5000 mid

24m @ 3.23g/t

DDD587 – 5000 up

13m @ 2.34g/t

DDD563A – 5000 low

77.2m @ 3.29g/t

DDD563A – 5000 up

27m @ 7.18g/t

DDD563A – 3000

23m @ 1.78g/t

57m @ 2.10g/t

Durba HillUS$ 1000/oz

KCD pit

DDD480

40.7m @ 5.60g/t

3000

5000

9000

500m

Kibali…integrated mine design

9000 lode

5000 lode

Shaft

BoxcutOpen pit

Mine design

Haulage level

Crusher and Pumping stations

1km

decline

13

Kibali gold mine…a world class development

Metallurgical plant

Open pit mining

UG development

Vertical shaft

headgear

Kibali commissioning schedule…

First bank of Gensets

commissioned

Start up material

through mill and CIL

Low feed rate initially

to fill CIL circuit

First gold

Sulphide circuit

commissioning

2013 2014

Oxide circuit

commissioning

PHASE 1 (2012 to 2014) US$ 1 billion

PHASE 2 (2012 to 2016) US$ 0.7 billion

Metallurgical facility, first hydropower station, thermal power station, TSF, RAP, open pit mining, infrastructure

Underground development, including twin decline and single vertical shaft system, 3 hydropower stations

14

Kibali…satellite deposits

KCD

Pakaka1.28Moz at 2.17g/t

Mengu Hill0.72Moz at 2.33g/t

Agbarabo

Megi0.29Moz at 1.84g/t

Sessengue0.64Moz at 1.56g/t

Kombokolo0.17Moz at 2.00g/t

Gorumbwa0.63Moz at 3.50g/t

Exploration target Satellite deposit with down plunge potential

Pamao

0.72Moz at 1.5g/t N

Kibali exploration team continues its hunt for new ounces…

Mofu

Trench results returned

average intersection

of 12.25m @ 7.8g/t

over 300m

Rambi

High grade rock

samples at Dri:

12g/t, 6.7g/t,

9.5g/t, 2.8g/t,

8g/t over 3.5km

associated with

ironstone

Rhino

Additional high grade

rods of mineralisation

being defined

KCD

10km

Memekazi

RC drilling defines

near surface target

18m @ 3.3g/t, 20m @ 5.9g/t

Kalimva/Ikamva

New models reprioritise

targets which locate on

major regional fold

in ironstones

N

Sayi

RC drill results

22m @ 2.3g/t

18m @ 2.6g/t

22m @ 2.9g/t

15

Kibali exploration…Mofu near mine target

Trenching returned high grade gold mineralisationat surface over 300m strike length

Weighted average intersect of trench results is 12.25m @ 7.81g/t

Drill motivation approved and underway in Q4

MOTR0013

6m @ 3.35g/t

and 12m @ 0.74g/t

MOTR0006

6m @ 6.46g/t

MOTR0012

10m @ 7.94g/t

MOTR0005

26m @ 13.50g/t

MOTR0001

11m @ 1.20g/t

MOTR0014

13.5m @ 4.43g/t

MOTR0003

7m @ 4.50g/t

50m

N

Kibali…Kalimva-Ikamva target

Historic drilling:

10.5m @ 2.18g/t

8.95m @ 8.07g/t

11.8m @ 4.5g/t

Channel sample

10m @ 2.76g/t

inc. 4m @ 4.26g/t

Magnetic data and results

Litho

13.9g/t, 4.62g/t

5.6g/t, 3.97g/t

8.01g/t, 1.31g/t

Ikamva

Historic drilling

10.5 @ 8.0g/t

9m @ 3.73g/t

4m @ 6.4g/t

16

Kilo JV…reinvesting our future returns

10km

Thrust duplication crosscut

by NE transfer structures

30km major thrust

Rotation into D2 shear

Pressure shadow

around intrusive

SE plunging

anticline

Jog in NE

corridor

30km NW dextral

shear

D1,D2

intersection

Legend

Geology

Amphibolite

Banded iron formation

Biotite granite

Dolerite

Gneiss

Granite

K rich sediments

Mafic volcanic

Metasediments

Quartz feldspar porphyry

Volcanosediments

Geological interpretation of Isiro Belt

Preliminary target

areas

Geological interpretation of Ngayu Belt

ISIRO BELT

NGAYU BELT

50km

N

Conclusions…

DRC: Attractive destination

Congo Craton under explored

Kibali is a truly world class deposit

Significant demonstrable upside

Randgold well positioned for future growth

17

Disclaimer…

Competent persons:

COMPETENT PERSONS: Yalea and Gara mineral resources from Loulo were calculated by Mr Abdoulaye Ngom, an officer of the company, under the

supervision of Mr Jonathan Kleynhans, an officer of the company and competent person. Loulo 3 and Baboto mineral resources from Loulo were

calculated by Mr Ivan Doku, an independent consultant, and reviewed by Mr Jonathan Kleynhans, an officer of the company and competent person.

Faraba mineral resources from Gounkoto were calculated by Mr Jonathan Kleynhans, an officer of the company and competent person. Tongon mineral

resources were calculated by Mr Mamadou Ly and Mr Babacar Diouf, both officers of the company, under the supervision of Mr Jonathan Kleynhans, an

officer of the company and competent person. Morila mineral resources were calculated by Mr Adama Kone, an officer of the company, under the

supervision of Mr Jonathan Kleynhans, an officer of the company and competent person. Kibali mineral resources were calculated by Mr Ernest Doh, an

officer of the company and competent person. Morila open pit resources were calculated by Miss Paula Oligive, an independent consultant, under the

supervision of Mr Jonathan Kleynhans, an officer of the company and competent person. Gounkoto mineral resources were calculated by Mr Fredrick de

Bruin, an independent consultant, under the supervision of Mr Jonathan Kleynhans, an officer of the company and competent person. Mr Johan

Kleynhans and Mr Rodney Quick are members of SACNASP and both have sufficient experience in the style of mineralisation and types of deposits

under consideration and the activity which they are undertaking as competent person as defined in the 2004 addition in the ‘Australasian Code for

Reporting Exploration Results, Mineral Resources and Ore Reserves’.

The Loulo, Tongon, Morila and Gounkoto open pit mineral reserves were calculated by Mr Shaun Gillespie, an independent consultant and competent

person and member of SAIMM. Kibali open pit mineral reserves were generated by Mr Nicholas Coomson, an officer of the company and competent

person and member of AusIMM. Loulo underground reserves were calculated by Mr Mamou Toure, an officer of the company, and reviewed by Mr Mark

Odell, an independent consultant and competent person and practising professional engineer. Massawa mineral reserves remain unchanged from last

year and were calculated by Mr Onno ten Brinke, an independent consultant and competent person and member of AusIMM, and reviewed by Mr

Rodney Quick, an officer of the company and competent person. The Kibali underground mineral reserves were calculated by Mr Tim Peters of Piran

Mining and reviewed by Mr Dan Donald of Mine RP, both independent consultants and competent person and members of AusIMM. All competent

person have sufficient experience in the style of mineralisation and types of deposits under consideration and the activity which they are undertaking as

competent person as defined in the 2004 addition in the ‘Australasian Code for Reporting Exploration Results, Mineral Resources and Ore

Reserves’.Cautionary note to US investors: The United States Securities and Exchange Commission (the SEC) permits mining companies, in their filings

with the SEC, to disclose only proven and probable ore reserves. Randgold uses certain terms in this report such as ‘resources’ that the SEC does not

recognise and strictly prohibits the company from including in its filings with the SEC. Investors are cautioned not to assume that all or any parts of the

company’s 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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: Except for the historical information contained herein, the matters discussed

in this presentation 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 Resources Limited (‘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 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 Randgold’s filings with the US Securities and Exchange Commission (the ‘SEC’). 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.