March 2026 Quarterly Activities Report

23 April 2026

Q1 2026 Activities Report For the Quarter ending 31 March 2026 ('Q1', 'March Quarter' or 'the Quarter')

Quarterly Highlights

• Total Recordable Injury Frequency Rate (TRIFR) of 0.43 with only one recordable injury during Q1

• Group gold production of 59,603 ounces (oz) (Q4 2025: 65,918oz) in line with expectations at both Mako (Senegal) and Syama (Mali)

• All-In Sustaining Costs (AISC) of $2,210/oz (Q4 2025: $1,877/oz) in line with guidance as cost reductions partially offset higher royalty payments due to record average realised gold prices

• Capital expenditure of $33.4 million (Q4 2025: $28.7 million) consisting of $14.3 million non-sustaining, $6.9 million of sustaining, $5.1 million exploration capital spend, $7.1 million at Doropo and Mako Life Extension Project (MLEP). Remains on track with guidance ($310 - 360 million)

• Operating cash flow generation of $119.8 million (Q4 2025: $85.7 million) (operating cash flow before capital expenditure, exploration and working capital)

• EBITDA of $202.9 million (Q4 2025: $104.9 million); $337.6 million revenue (Q4 2025: $201.5 million)

• Net cash of $315.4 million (Q4 2025: $209.0 million), including cash, cash equivalents and bullion of $327.6 million. Drawn overdraft balances and equipment financing were $12.2 million

• Proceeds of $31.9 million received from the sale of Resolute's stake in Loncor Gold

• Key milestones reached at the Doropo Project (Côte d'Ivoire) including receipt of the mining permit and formal approval of Final Investment Decision (FID)

• Strategic Memorandum of Understanding (MoU) signed with Nimba Mining Company regarding the potential co-development of gold projects in Guinea

• Ore Reserves and Mineral Resource Statement for 31 December 2025 published:

• Total Mineral Resources increased by 60% to 17.6 Moz Au with the acquisition of the Doropo and ABC projects and exploration success at Bantaco and La Debo

• Total Ore Reserves increased by 55% to 6.8 Moz Au with the addition of Ore Reserves at Doropo and Tomboronkoto offsetting mining depletion in Mako and Syama

• Promising drill results at ABC Project (Côte d'Ivoire) including 73m at 0.8 g/t Au from 2m along strike of the existing MRE at Kona South

• Scoping Study for the ABC Project remains on track for completion in Q2 2026

• On track to meet production guidance of 250 - 275 koz. Group AISC of $2,000 - 2,200/oz is maintained, however is subject to change at current elevated gold prices and higher fuel costs

Note: Unless otherwise stated, all dollar figures are United States dollars ($). AISC guidance is based on $4,000/oz gold price.

Resolute Mining Limited (Resolute, the Company or the Group) (ASX/LSE: RSG), the West Africa-focused gold miner, is pleased to present its Quarterly Activities Report for the period ended 31 March 2026.

Chris Eger, Chief Executive Officer, commented,

"It has been a positive start to 2026 at both our operations and at our development and exploration projects.

Our operations continued to perform in line with expectations and generated $119.8 million of operating cash flows helping boost our net cash position to $315.4 million. We remain on track with production guidance which is weighted to H2 as the Syama Sulphide Conversion Project is commissioned and ramps up.

In Cote d'Ivoire we have had a very successful Quarter at ABC and Doropo. At ABC we have been focusing on strike extensions of the Kona South and Central deposits that have an existing MRE of 2.2 Moz. With the success we have been seeing at ABC, including an intercept from surface of 73 m grading 0.8 g/t, we will continue drilling in order to further expand resources. During Q1 we started a scoping study for ABC, based on the existing MRE, which we expect to release in Q2. At Doropo we achieved two major milestones: receipt of our mining permit and formal approval of FID. In April ground clearance activities started and we remain on track for first gold in H2 2028.

In Senegal, stockpile processing at Mako continued to perform extremely well. Additionally, strong progress was made on technical and permitting workstreams for the MLEP. Internal technical studies currently indicate annual gold production levels of 75 - 85 koz over seven years from the Tomboronkoto and Bantaco deposits at a capital cost of between $125 - 150 million. We are continuing with optimizations and are confident of further improvements to the project.

During the Quarter we also signed a strategic MoU with Nimba Mining Company to evaluate projects in Guinea. This aligns with Resolute's strategy of building a pipeline of high-quality growth opportunities in established West African gold jurisdictions and complements our other activities in Guinea.

While the ongoing situation in the Middle East has not resulted in any direct disruptions to our supply chain, we are closely monitoring developments. There is a potential for increased AISC due to rising fuel prices, which could impact our operational costs in the coming quarters. At this stage, we are proactively managing these risks and, where possible, minimizing any impacts.

Overall, I am pleased with the Group's activities and financials in Q1. We remain confident in delivering against our guidance, supported by a robust balance sheet and experienced teams, that are well placed to continue performing across the business as we move into Q2."

Webcast and Conference Call

Resolute will host a conference call for investors, analysts, and media on 23 April 2026, to discuss the Company's Quarterly Activities Report for the period ending 31 March 2026. This call will conclude with a question-and-answer session.

Conference Call: 6:00pm (AEST, Sydney) / 9:00am (BST, London)

Webcast registration link: https://sparklive.lseg.com/ResoluteMiningLtdAustralia/events/c3dd5dd8-30b9-42d2-ae18-47b19e044b88/resolute-mining-ltd-q1-2026-conference-call

Written questions can be submitted using the 'Ask a Question' button on the webcast page. Those wishing to ask questions as part of the Q&A should use the conference call facility (please join five minutes before the start time).

Conference call registration link: https://registrations.events/direct/LON34665289

A presentation, to accompany the call, will be available for download on the Company's website: https://www.rml.com.au/investors/presentations/.

Group Operations Overview 

Table 1: Resolute Group Operational Performance Summary

During the Quarter, Resolute processed over 1.63 Mt across Syama (Mali) and Mako (Senegal) at an average milled head grade of 1.40 g/t. In Q1 the Group produced 59,603 oz of gold at an AISC of $2,210/oz.

Environmental and Social Update

Resolute's year-to-date (and quarterly) TRIFR as of 31 March 2026 improved to 0.43 (full-year 2025: 1.87) with one recordable injury during the Quarter. This is a significant decrease on previous quarters with improvements to preventive safety measures and leading indicators during H2 2025.

In Q1, Resolute recorded no significant environmental incidents, regulatory non-compliances, and no reportable community grievances.

During the Quarter, Resolute published its 2025 Sustainability Report, Climate Report and Greenhouse Gas Emissions Calculation Method Statement. These climate-related disclosures were prepared in accordance with the Australian Sustainability Reporting Standards (ASRS).

Resolute is undergoing external assurance against the Responsible Gold Mining Principles and Conflict Free Gold Standard with assurance reports expected in Q2. In addition, Resolute will be audited against the Responsible Gold Guidance in Q2. ISO14001 Environmental Management and 45001 OHS Management audits at Syama are now expected in Q4.

In Senegal, the focus has been on the Mako Life Extension Project, comprising technical studies in support of the Tomborokoto and Bantaco satellite deposits, and expansion of the existing Mako Mine process plant. For the Tomboronkoto Satellite Deposit, the Environmental & Social Impact Assessment (ESIA) report was validated by the environmental regulator in advance of ministerial approval. Consultation is ongoing with potentially affected persons for the resettlement of Tomboronkoto village, who have selected their preferred site for detailed resettlement planning. In parallel, formal ESIA studies are ongoing for (i) the expansion of the Mako Mine process plant, including a new Tailings Storage Facility, and (ii) the Bantaco Satellite Deposit. Draft ESIA reports for these two project components are scheduled for submission to the environmental regulator in Q2.

At the Doropo Project, Côte d'Ivoire, the first phase of land acquisition is nearing completion in preparation for the commencement of early works construction activities in Q2 2026. Strategies have also been developed in consultation with project affected communities to enhance local economic participation through project-related employment and procurement opportunities.

At Syama, Mali, a detailed feasibility study and accompanying ESIA were initiated for the development of a third Tailings Storage Facility. This follows satisfactory results from the completion of multi-criteria alternatives analysis for tailings management and conceptual design studies on the preferred design option. 

Mali

Syama gold production for the Quarter was 43,802oz at an AISC of $2,227/oz. The operational performance is set out in the table below.

Table 2: Syama Production and Cost Summary

At Syama, production delivered a strong start to the year, with 43,802 oz of gold poured in Q1 across both sulphide and oxide operations, in line with the Company's plan. Operational performance remained robust, with both processing plants achieving consistently high utilisation and availability, supporting total ore throughput of approximately 1.06 Mt for period.

As expected, oxide mining was lower than the prior Quarter with material primarily sourced from the A21 (Syama North) open pit. Oxide mining is expected to continue in Q2 to build stockpiles for processing later in the year. In Q1, the primary source of oxide feed was previously stockpiled material, delivering a consistent and reliable average head grade of 0.64 g/t, demonstrating the strength and flexibility of the operation's stockpile management system.

During Q2, Stage 1 of the Syama Sulphide Conversion Project (SSCP) commissioning will move to processing a blended sulphide feed sourced from A21 fresh rock, underground sulphide ore, and sulphide stockpiles.

At the sulphide operation, underground ore tonnes were above target with additional low grade draw points accelerated, resulting in slightly lower mined grade of 2.23 g/t from the sub-level cave. These low grade ore tonnes have been stockpiled for SSCP commissioning in Q2.

The sulphide head grade averaged 2.36 g/t as higher grade run of mine ore was processed through Process Plant 1 (PP1 - historically the sulphide plant). Feed grades are expected to increase slightly to between 2.4 - 2.5 g/t from the underground production in Q2.

In Q2 sulphide processing activities will undergo a transition with a focus on commissioning of the flotation plant on Process Plant 2 (PP2 - historically the oxide plant which has been converted to dual purpose through the SSCP). As expected, sulphide production in Q2 is expected to be lower than Q1 due to a planned plant shutdown to tie in the SSCP and upgrade the roaster. As per Figure 1, Syama remains on track for full-year production guidance of 195 - 210 koz with production weighted to the second half of the year.

Figure 1: 2026 Syama actual gold production (koz) and guidance

During Q1 capital expenditure was $20.6 million split $6.3 million and $14.3 million between sustaining and non-sustaining capital respectively. Expenditure for the Quarter includes Underground production mobile machinery, and Tailings Storage Facility lift, with $8.0 million spent on the SSCP and Roaster upgrade as well as $5.7 million of sustaining waste capital. Syama remains on track for its capital expenditure guidance of $110 - 125 million.

Disruption in the Middle East has affected global logistics, supply chains and cost of materials. In response, Resolute has increased procurement activity and on‑site inventory levels for selected critical consumables as a risk mitigation measure, with the objective of supporting continuity of operations. At this stage, the business has not been materially impacted by consumable shortages, and supply disruptions have been successfully managed. However, the company is experiencing elevated costs for some inputs, including fuel and key reagents, which may impact overall operating costs if these price trends persist. Management continues to closely monitor market conditions and maintain contingency plans to minimize potential adverse effects on production and costs.

At Syama, storage capacity has been increased for both light fuel oil (LFO), used for mobile equipment, and heavy fuel oil (HFO), used for power generation. LFO storage on site is currently approximately 77% of total capacity equating to over 50 days of operational coverage at current consumption rates. HFO storage capacity approximately 90%, providing over 40 days of power generation coverage. For both LFO and HFO, deliveries have continued largely as scheduled, however unit costs have increased. Fuel prices in Mali are regulated by the government and in April LFO prices increased by approximately 50%. If the current prices for fuel are maintained for the remainder of the year, we expect an increase to AISC of approximately $75/oz for the full-year.

Key processing reagents, including cyanide, PAX and Sasol products, currently exceed three months of on‑site inventory. Other consumables remain in transit, with some experiencing minor delays, although no material operational impacts have been reported to date.

Explosive inventories at Syama continue to fluctuate in line with supply conditions. Current on‑site inventories provide more than one month of operational coverage. The Company has continued progress toward securing a modular emulsion manufacturing facility at Syama. Engagement with Malian authorities regarding permitting is ongoing, and subject to regulatory approvals, construction and commissioning are expected to occur in H2.

In Q1 the AISC was slightly above guidance $2,227/oz due to higher royalty payments. Royalty payments were driven by an average realised gold price during the quarter. The impact of high gold prices on AISC was approximately $135/oz above the level expected for guidance. Syama remains on track for full-year AISC guidance of $1,950 - 2,150/oz (at a gold price assumption of $4,000/oz) subject to ongoing fuel cost pressures. 

Syama Sulphide Conversion Project (SSCP)

The project remains on track and on budget with no lost time injuries (LTIs) after approximately 1.06 million person-hours worked until the end of March 2026. 

During the March 2026 quarter, construction of the flotation circuit was successfully completed, marking a major milestone for the SSCP and significantly advancing the project towards completion. Commissioning has now commenced, with activities progressing through Q2, positioning the operation for a strong ramp-up phase.

Capital expenditure on the SSCP in Q1 was $8.0 million and in line with the full-year guidance for capital spend of $40 million.

With flotation plant construction substantially complete, focus in Q1 shifted to advancing other critical components, particularly the secondary crusher and ball mill circuits. Strong progress was achieved across these areas during Q1, positioning SSCP well for Stage 2 commissioning in Q3.

Looking ahead to Q2, commissioning activities for the flotation plant are on schedule. In April, sulphide ore feed is planned to commence with handover to operations anticipated toward the end of the month. Construction activities in the secondary crusher and ball mill areas are expected to continue throughout Q2.

Figure 2: Construction of the Electrostatic Precipitator (ESP), a key component of Roaster Upgrade

Figure 3: Flotation Circuit

The project remains on track and on budget. As per Figure 4, full commissioning is expected in Q3 2026 followed by a ramp-up throughout Q4 2026.

Figure 4: SSCP Timeline

Senegal

Mako Operations

Mako gold production for the Quarter was 15,801oz at an AISC of $1,669/oz. The operational performance for Mako is set out in the table below.

Table 3: Mako Production and Cost Summary

At Mako, the operation delivered a solid Q1 performance in line with expectations. During the quarter, the plant processed over 574 kt of stockpiled material at an average gold head grade of 0.93 g/t, producing 15,801 oz of gold. As per Figure 5, Mako remains on track for full-year production guidance of 55 - 65 koz with steady Quarterly production levels expected.

Figure 5: 2026 Mako actual gold production (koz) and guidance

During the Quarter the AISC was $1,669/oz in line with expectations reflecting continued cost discipline and operational control. Mako remains on track with full-year AISC guidance of $1,600 - 1,800/oz, supporting resilient margins and consistent cash flow generation.

Capital expenditure in Q1 was $0.6 million (Q4 2025: $0.3 million) and consisted of replacement parts for the processing plant.

No material supply disruptions have been experienced in Senegal during Q1. At Mako, which relies on LFO for both mobile equipment and power generation, fuel storage capacity is maintained at greater than 94%, representing approximately 27 days of operational coverage. Inventories of other consumables and key reagents generally exceed one month, with the majority exceeding two months. If the current prices for fuel, approximately 30% higher than originally anticipated, are maintained for the remainder of the year we expect there to be an increase to AISC of approximately $50/oz for the full-year.

Mako Life Extension Project (MLEP)

MLEP represents a compelling growth opportunity, centered on the potential development of the Tomboronkoto and Bantaco satellite deposits. Advancing these deposits is expected to extend the mine life of the Mako Gold Mine and further enhance the long-term value of the operation.

The current combined Mineral Resource Estimates of Tomboronkoto and Bantaco contain over 800 koz of gold, with possibilities of expansion based on ongoing exploration. There is significant potential at Tomboronkoto with the orebody remaining open along strike to the west and at depth.

Following internal technical studies, an initial Ore Reserve of 348 koz oz at 1.2g/t Au is at a gold price assumption of $2,500/oz was declared at Tomboronkoto.

In Q1 $2.9 million was spent on the MLEP, consisting of technical and metallurgical studies and Relocation Action Plan (RAP) development. The MLEP remains on track and on budget as per Figure 6.

Figure 6: Approximate Timeline for the MLEP

Detailed Operating Plan

Technical studies have been carried out that consolidate historical exploration results, updated Mineral Resource Estimates as at December 2025, mine design, scheduling and metallurgical test work to a level of confidence considered appropriate for internal planning purposes.

Mining and processing studies support a conventional open pit operation with ore being processed through the existing Mako plant, subject to targeted plant upgrades. Internal scheduling work indicates Bantaco is expected to provide initial satellite mill feed ahead of Tomboronkoto (Figure 7), reflecting permitting and resettlement sequencing, with Tomboronkoto providing the majority of higher‑grade feed once mining commences.

Bantaco oxide ore properties are consistent with Mako oxides so processing plant upgrades are only required prior to processing Tomboronkoto oxides which have a higher clay content.

Figure 7: Annual mill feed (in tonnes) schedule by source

Based on current schedules, indicatively, the combined MLEP is assessed as capable of supporting annual gold production of approximately 75 - 85 koz over seven years with indicative gold production from satellite sources commencing following depletion of existing stockpiles and continuing over the subsequent mine life, subject to refinement through ongoing optimisation and permitting outcomes.

Figure 8: Annual recovered gold ounces (oz) by source

Capital and operating cost estimates were prepared on a combined MLEP basis during the quarter using detailed cost frameworks at Tomboronkoto, supplemented by high‑level estimates for Bantaco pending further study. On this basis, total pre‑production costs for the combined MLEP is estimated at approximately $125 - 150 million, reflecting process plant modifications, tailings infrastructure, resettlement and enabling works, road construction and mining establishment costs. The majority of this is expected in the second half of 2027. Operating cost estimates are expected to be similar to those at the Mako Mine with the addition of haulage and will continue to be refined as an integrated life‑of‑mine plan is progressed. All capital, cost and production parameters remain subject to further optimisation, permitting approvals and execution planning.

Tomboronkoto

During Q1 2026, key development milestones were successfully achieved at Tomboronkoto, with the final Environmental & Social Impact Assessment validated by the authorities and the feasibility study completed. These achievements significantly de-risk the project and position it strongly to support the forthcoming mining permit application that is being submitted in Q2 2026.

Planning and stakeholder engagement activities to inform the development of the RAP are well underway and remain ongoing while all required surveys are being finalised. Receipt of the mining permit will provide the necessary authority to implement the RAP, including the initiation of village relocation once agreement has been reached with the affected parties. This approach underscores our commitment to regulatory compliance, transparent community consultation, and responsible project execution.

During Q1 2026, the village relocation site was pre-selected and validated with all stakeholders, including village and state representatives. In Q2 2026, this site selection process will be finalised following the completion of all required field investigations, including geophysical surveys to identify groundwater availability, geotechnical characteristics, and sterilisation requirements. Individual household asset surveys, the relocation entitlement matrix, and public infrastructure designs will also be validated during Q2 2026.

Formal ESIA studies for the expansion of the existing Mako Mine Process Plant, including a new TSF and Ore Transport Road between Tomboronkoto and the Mako plant, progressed as planned during Q1 2026. The TSF technical study and detailed engineering commenced during the Quarter and is expected to be completed by Q3 2026. Detailed engineering for the Mako processing facility is expected to commence in Q2 2026. 

Bantaco

During Q1, strong progress was made across key workstreams, including ongoing metallurgical test work and technical studies, which remain on track for completion in Q2 2026. Environmental permitting activities also advanced well, with the ESIA progressing towards submission.

Community engagement activities with the affected communities are also ongoing as part of the development of a Livelihood Restoration Plan.

Next Steps

Key next steps for the MLEP include:

• Submission of the Tomboronkoto mining permit application in Q2 and, assuming no major revisions are required, approval is anticipated in 2027

• Submission of the ESIA for the Mako plant upgrades, Gambia river bridge and ore transport route in April 2026 with approval anticipated during Q4 2026

• Finalisation of Bantaco technical studies are expected towards the end of Q2 2026

• Submission of Bantaco ESIA in Q2 2026 and validation anticipated in Q3 2026

• Preparation of all documentation for submission of the Bantaco Mining Permit application in Q3 2026

Côte d'Ivoire

Doropo Project

Doropo continues to track strongly towards first gold which is expected in H2 2028. Key milestones were delivered during Q1, as construction activities are set to accelerate in Q2 2026, positioning the project for a well-executed build and long-term value creation.

Permitting and Investment Milestones

During Q1, material progress was achieved at the Doropo Project. All key approvals were secured during the quarter, including issuance of the mining permit in February 2026, signing of the Mining Decree in March 2026 and announcement of FID on 12 March 2026.

The mining permit is valid for 14 years with the ability to extend. The permit covers a substantial area of 400km², encompassing the main Doropo deposits and several drill-tested mineralised trends.

Contracts and Procurement

During Q1 bids for the EPCM contract were evaluated and post-quarter end Lycopodium Limited were awarded the EPCM contract.

Key long-lead procurement packages were tendered during FEED, including mills, crushers, oxygen plant, CIL tanks, thickeners and associated processing equipment, with adjudication substantially complete and major equipment awards anticipated in Q2 2026.

Early construction-related packages covering camp facilities and the Doropo village were tendered and progressed to evaluation.

Site Preparation

Site preparation and engineering activities advanced, including completion of geotechnical investigations and early engineering design for the tailings storage facility, water infrastructure, access roads and airstrip.

Major earthworks contracts were adjudicated, with early pioneer earthworks awarded and mobilisation scheduled for April 2026. Water bore drilling contracts were also awarded during the quarter.

Project Team & Organisational Build-Out

Owner's team was strengthened with the appointment of senior personnel across construction, procurement, cost control and mining engineering functions.

Land Access & Community Engagement

Land access and compensation activities continued, with land surveys completed, compensation tariffs agreed and payment mechanisms established. Post-quarter end the compensation payments for early works areas were substantially completed.

Figure 9: Land compensation activities

Planned Activities

During Q2 activities are expected to focus on placing orders for major long-lead items, commencing bulk earthworks and camp construction, expanding site infrastructure, advancing HV power supply arrangements and progressing full-scale site development. Upcoming activities include:

Owner's Team and Studies

• Continue buildup of the owner's team

• Appoint HV power engineer and start HV power supply engineering and early work

Land Access, Acquisition and Crop Compensation

• Complete compensation for all identified early works areas within the project development footprint in early April 2026

• Continue compensation activities for areas outside the early works footprint

Procurement and Fabrication Packages

• Place orders for long lead items (Mills, Jaw crusher, Apron feeders, CIL tanks and agitators, Thickener, Oxygen plant, Cyclones, Sewage treatment plant, Cranes and hoists)

• Commence tender process for remaining equipment (mechanical, electrical, piping and valves) and steelwork and fabrication packages

• Commence procurement and hire of site vehicles and mobile equipment

Site Works and Early Construction

• Commence temporary construction camp upgrade and award contracts for permanent camp construction

• Commence site earthworks, including access, plant side, construction camp and water infrastructure in April 2026

• Commence drilling and equipping of water bores

Figure 10: Groundbreaking starting on site

Figure 11: Ground clearance activities

The Doropo project remains on track with the timeline in Figure 12 with first gold expected in H2 2028.

Figure 12 : Doropo Project Timeline

Côte d'Ivoire Exploration

ABC Project

The ABC Project is a greenfield exploration project located in western Cote d'Ivoire. Resolute has four exploration permits granted around the ABC Project with two further permit applications.

Over Kona Central and South deposits there is a NI 43-101-compliant Inferred MRE of 2.16 Moz grading 0.9 g/t Au contained within the Kona permit.

Figure 13: Permit and Prospect Locations at the ABC Project

Exploration activity during Q1 focused on drilling programs planned to expand the Mineral Resources at the Kona deposits. Furthermore, a scoping study on the ABC Project, based on the existing MRE, was advanced during the period and is expected in Q2 2026.

Drilling successfully advanced efforts to extend known mineralisation at both Kona South and Kona Central, along strike to the north and south of the deposits. A total of 64 RC holes for 11,000m were completed during the March quarter with drilling at both areas reinforcing the scale and continuity of the mineralised system.

Drilling progressed strongly during the quarter, where activity ramped up to five rigs toward period end to accelerate delineation and rapidly expand the mineralised footprint, positioning the project for continued resource growth.

Results from the first 40 holes demonstrate wide intervals of gold mineralisation across the majority of drilling completed to date, reinforcing the scale and continuity of the system. Key standout intersections include:

• KNRC0499 - 73m @ 0.8g/t Au from 2m

• KNRC0500 - 80m @ 0.4g/t Au from 88m

• KNRC0501 - 23m @ 1g/t Au from 6m

• KNRC0506R - 35m @ 0.9 and 21m @ 1.2g/t

• KNRC0508 - 10m @ 1.9g/t Au from 217m

• KNRC0512 - 31m @ 1g/t from 151m

The majority of the results returned to date are from Kona South which is higher grade than Kona Central. The drill intersections clearly confirm the along strike extensions of the gold mineralisation to the north and south of Kona South.

All reported drill intersections are located outside the current Mineral Resource block models, highlighting clear potential for a meaningful increase in the existing resource base and underpinning a compelling growth opportunity.

Figure 14: Kona South Plan with drillhole locations

New drilling north of Kona South has delivered wide zones of mineralisation, extending the zones by 500m to the north, highlighting potential continued resource expansion.

Figure 15: Kona South cross section at 967950N

The accelerated drilling program will continue throughout 2026 to build the Mineral Resource Inventory of the ABC Project. An updated Mineral Resource Estimate is planned to be announced in H2 2026.

A scoping study is underway on the existing Kona MRE, with results due for release in Q2 2026, marking an important step in advancing the project's development pathway.

La Debo Project

The La Debo Project, located in southern Côte d'Ivoire approximately 280 km west of Abidjan, hosts an Inferred Mineral Resource of 17.6Mt at 1.14 g/t Au for 643 koz of contained gold (0.5 g/t cut-off) across the G3S and G3N prospects, providing a strong foundation for future growth.

A diamond drilling program commenced in March 2026 at G3S, aimed at expanding the existing Mineral Resource. Drilling last year identified a coherent linear zone of high-grade mineralisation at the deepest levels of G3S highlighting compelling potential for the development of a future underground operation.

This drilling program aims to drill out a panel of gold mineralisation over a strike length of 600m which may form the basis of an underground operation.

Drilling is progressing well, with results expected to be released in the second half of 2026, providing near-term catalysts for resource growth and project advancement. 13,000m of drilling is planned for the remainder of 2026.

Figure 16: La Debo Project Permits and Prospect Locations

Subject to positive drilling results at depth at G3S, La Debo has the potential to advance its development stage, with further technical and strategic updates planned for the second half of 2026. This work will support a comprehensive assessment of the project's potential and help identify broader growth opportunities in the region. 

Doropo Exploration

Exploration drilling within the Doropo Mining Permit is set to commence in Q2 2026 targeting both the Vako area and Kilosegui - see Figure 17.

Kilosegui represents a potential mineral resource expansion opportunity, with a 6km strike length and mineralisation remaining open at depth along its entire strike length. The initial strategy is to expand the Kilosegui Mineral Resources at depth but within the top 200m.

Historical exploration by Centamin identified a broad, high-grade gold-in-soil anomaly along the Vako Shear Zone, with initial follow-up drilling returning encouraging early-stage results. However, there was no further work carried out at the Vako Shear Zone.

Resolute plans to carry out a systematic work program at Doropo, commencing with auger drilling to identify the source of the gold anomalies, followed by a focused RC drilling campaign to test and delineate the underlying mineralisation. Detailed exploration planning is underway with up to 30,000m of drilling potentially planned.

Figure 17: Map of deposits and prospects at Doropo

Guinea

Strategic Partnership with Nimba Mining Company

In March the Company signed an MoU with the state-owned company Nimba Mining Company (NMC). This strategic partnership demonstrates the Government's recognition of and the support for Resolute's growth plans in Guinea.

The partnership will focus on jointly assessing mineral resources, conducting comprehensive geological studies, and developing strategic frameworks for potential large-scale gold production operations. The MoU aligns with Resolute's strategy of building a pipeline of high-quality growth opportunities in established West African gold jurisdictions. Moreover, it complements Resolute's other exploration activities in Guinea including a reconnaissance authorisation covering 83 km2 within the Siguiri Basin.

The next steps of the MoU involve Resolute and NMC completing a preliminary assessment of areas of interest and forming a joint team to review these, within the next 90 days following signing.

Planned Activities

At Barama, initial soil geochemistry results from the reconnaissance authorisation are expected in Q2 2026. Subject to results, the Company plans to undertake tighter-spaced (infill) soil sampling to refine and prioritise identified anomalies for follow-up.

In parallel, Resolute will continue to assess additional licence opportunities and advance its business development activities throughout Q2 2026. 

Mineral Resources and Ore Reserves Statement

During the Quarter Resolute released its Mineral Resources and Ore Reserves statement as of 31 December 2025.

Ore Reserves

Total Ore Reserves increased by 55% to 6.8 Moz Au with the addition of Ore Reserves at Doropo (Côte d'Ivoire) and Tomboronkoto (Senegal) offsetting mining depletion in Mali and Senegal.

Table 4: Ore Reserves (100% Basis)

Mali

At Syama, Underground Ore Reserves decreased by 235 koz Au, consistent with expectations, reflecting mining depletion and updated modifying factors based on a $2,300/oz gold price assumption. Stockpile Ore Reserves declined as material was processed, with higher sulphide depletion in 2025 due to underground mining disruptions, while oxide stockpiles reduced broadly in line with expectations; further oxide depletion is anticipated ahead of commissioning of the SSCP in H2 2026.

Ore Reserves at Tabakoroni Underground were unchanged. Ore Reserves at the Syama Satellite Deposits increased by 83 koz to 1.6 Moz Au following completion of a new pit optimisation, with Syama North underpinning the SSCP and the long‑term future of the Syama operation.

Senegal

At Mako, Ore Reserves decreased by 108 koz Au due to mining depletion, following the completion of open pit mining in June 2025 and the commencement of stockpile processing in H2 2025. Remaining Proven Ore Reserves total 108 koz Au at 0.9 g/t Au, with stockpile processing expected to continue until the end of 2027.

An initial Ore Reserve of 348 koz Au at 1.2 g/t Au has been declared for Tomboronkoto based on a $2,500/oz gold price assumption. Further optimisation studies at Tomboronkoto and Bantaco are planned as part of the Mako Life Extension Project.

Cote d'Ivoire

Following the updated DFS completed in 2025 the Doropo Ore Reserves total 2.5 Moz Au grading 1.3 g/t using a gold price assumption of $1,950/oz.

Mineral Resources

Total Mineral Resources increased by 60% to 17.6 million gold (Au) ounces (Moz) with the acquisition of the Doropo and ABC projects (Côte d'Ivoire) and exploration success at Bantaco (Senegal) and La Debo (Côte d'Ivoire).

Table 5: Mineral Resources (100% Basis)

Mali

Mineral Resources at the Syama Underground mine decreased by approximately 680 koz Au, reflecting mining depletion, an updated resource estimate and revised RPEEE (Reasonable Prospects For Eventual Economic Extraction) inputs. The Syama North Mineral Resource decreased by approximately 50 koz to 3.3 Moz Au due to mining depletion and revised RPEEE inputs. Mineral Resources at Tabakoroni Underground were unchanged.

Senegal

Mineral Resources at Mako, including stockpiles, decreased by approximately 130 koz Au in line with mining depletion, with no further additions expected following completion of open pit mining and the commencement of stockpile processing.

Mineral Resources at Tomboronkoto increased in 2025 due to reporting at a lower cut‑off grade of 0.5 g/t Au within a $2,950/oz optimised pit shell, increasing to 444 koz Au at 1.3 g/t Au (2024: 377 koz at 1.7 g/t Au). At Bantaco the Mineral Resource was updated to 365 koz Au at 1.0 g/t Au.

Cote d'Ivoire

Mineral Resource additions reflect the acquisition of the Doropo and ABC projects and the declaration of an initial Mineral Resource at La Debo.

At Doropo, an updated Mineral Resource Estimate released in September 2025, based on a $3,000/oz gold price assumption, increased total Mineral Resources to 4.4 Moz Au, a 1 Moz Au increase from 2023, with approximately 84% classified as Measured and Indicated.

At the ABC Project, Mineral Resources total 2.2 Moz Au at the Kona Central and South deposits, with further exploration and a Scoping Study planned during 2026.

An initial Mineral Resource was declared at La Debo in November 2025 of 643 koz Au at 1.14 g/t Au, with further drilling planned during 2026.

Financial Highlights and Balance Sheet Activities

Quarterly Net Cash Movements (US$ million)

*Included in Operating Cash flows are $26.9 million of royalties

Figure 18: Q1 2026 Net Cash Movements

In Q1 gold sales of 69,352 oz were achieved at an average realised gold price of $4,858/oz (Q4: $4,023/oz), with all gold being sold at spot prices. The strong gold price environment helped the Company generate an operating cashflow of $119.8 million in Q1.

For Q1 there was a working capital outflow of $3.1 million (Q4 2025: $29.0 million inflow) The working capital outflow was due to a reduction in payables that were settled in the normal course of business.

The VAT paid in Q1 in Mali and Senegal was $8.7 million (Q4 2025: $12.3 million). During the Quarter $4.3 million of VAT mandates were approved by the Senegalese tax authorities and will be used to settle payables in Q2. Resolute continues to engage with local governments to settle these amounts. In Q2 Resolute expects considerable income tax payments in Mali and Senegal of approximately $50 million.

EBITDA for the three months ending 31 March 2026 was $202.9 million (Q4 2025: $104.9 million) reflecting $337.6 million of revenue (Q4 2025: $201.5 million) driven by the significant increase in gold prices in the quarter as well the impact of the increase of gold sales in the quarter.

Exploration Expenditure

Total Group exploration spend, including capital and operating expenditure, in Q1 was $5.3 million (Q4 2025: $5.6 million), with drilling programs continuing in Senegal ($1.1 million), Côte d'Ivoire ($3.7 million) and Mali ($0.5 million). Exploration spend remains on track with guidance ($15 - 25 million).

Net Cash Summary

Net cash (including bullion) at 31 March 2026 was $315.4 million, increasing from the $209.0 million net cash position at 31 December 2025.

Total borrowings at 31 March 2026 were $12.2 million (Q4 2025: $57.0 million) which includes in-country overdraft facilities in Senegal of $2.2 million, used to optimise working capital, as well as $10.0 million for in-country equipment financing. Cash, cash equivalents and bullion increased by $106.4 million in the Quarter to $315.4 million (Q4 2025: $209.0 million) including $31.4 million that was received from the sale of Resolute's stake in Loncor Gold. The Company has available liquidity of approximately $425.0 million (including $99.6 million bullion on hand) as at 31 March 2026.

As at 31 March 2026 the receivable for the Ravenswood promissory note was approximately $52 million. The promissory note has an annual coupon of 12% with interest being capitalised and is to be paid to Resolute upon maturity. The promissory note maturity is 31 December 2027 but may be repaid early on future Ravenswood financings, liquidity event(s), or excess cash from Ravenswood.

Financing Updates

Resolute intends to use its existing balance sheet and operating cash flows to progress Doropo into construction. The Company continues to consider a range of funding options to support the construction of the Doropo project.

Guidance

Resolute remains on track for its full-year production guidance of 250,000 - 275,000 oz.

Group AISC of $2,000 - 2,200/oz (at a gold price assumption of $4,000/oz) is maintained however is subject to change at current elevated gold prices and higher fuel costs. For every $100/oz increase in gold price we anticipate a $20/oz increase in Group AISC. If prices for fuel persist at current levels we expect an impact to the Group's full-year AISC.

Total group AISC includes corporate costs

Table 6: Summary of year-to-date performance and full-year production and cost guidance

Total Group capital expenditure, inclusive of Doropo and exploration, is expected to be between $310 - 360 million in 2026. Administration and other corporate expenditure is expected to be approximately $25 million.

Doropo capital expenditure is expected to be weighted 75% to the second half of 2026.

Table 7: Summary of 2026 capital expenditure guidance

Contact

About Resolute

Resolute is an African-focused gold miner with more than 30 years of experience as an explorer, developer and operator. Throughout its history the Company has produced more than 9 million ounces of gold from ten gold mines. The Company is now entering a growth phase through the development of the Doropo project in Côte d'Ivoire which will supplement the existing production from the Syama mine in Mali and Mako mine in Senegal. 

Through all its activities, sustainability is the core value at Resolute. This means that protecting the environment, providing a safe and productive working environment for employees, uplifting host communities, and practicing good corporate governance are non-negotiable priorities. Resolute's commitment to sustainability and good corporate citizenship has been cemented through its adoption of and adherence to the Responsible Gold Mining Principles (RGMPs). This framework, which sets out clear expectations for consumers, investors, and the gold supply chain as to what constitutes responsible gold mining, is an initiative of the World Gold Council of which Resolute has been a full member since 2017.

Appendix 1

Q1 Production and Costs (unaudited)

ASX Listing Rule 5.23 Mineral Resources

This announcement contains estimates of Resolute's mineral resources. The information in this Quarterly report that relates to the mineral resources of Resolute has been extracted from reports entitled 'Ore Reserves and Mineral Resource Statement' announced on 5 March 2026, and are available to view on Resolute's website (www.rml.com.au) and www.asx.com (Resolute Announcement).

For the purposes of ASX Listing Rule 5.23, Resolute confirms that it is not aware of any new information or data that materially affects the information included in the Resolute Announcement and, in relation to the estimates of Resolute's ore reserves and mineral resources, that all material assumptions and technical parameters underpinning the estimates in the Resolute Announcement continue to apply and have not materially changed. Resolute confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from that announcement.

ASX Listing Rule 5.8 and 5.9 Ore Reserves

This announcement contains information relating to Resolute's Ore Reserves which has been previously disclosed in the announcement titled "Ore Reserves and Mineral Resource Statement" lodged with ASX on 5 March 2026 (Resolute Announcement).

Resolute confirms that it is not aware of any new information or data that materially affects the information included in the Resolute Announcement and that all material assumptions and technical parameters underpinning the Ore Reserve estimates continue to apply and have not materially changed. The form and context in which the Competent Person's findings are presented have not been materially modified from the Resolute Announcement.

ASX Listing Rule 5.19 Production Targets

The information in this announcement that relates to production targets of Resolute has been extracted from the report entitled 'Q4 2025 Activities Report and 2026 Guidance' announced on 22 January 2026 and are available to view on the Company's website (www.rml.com.au) and www.asx.com.

For the purposes of ASX Listing Rule 5.19, Resolute confirms that all material assumptions underpinning the production target, or the forecast financial information derived from the production target continue to apply and have not materially changed.

Cautionary Statement about Forward-Looking Statements

This announcement contains certain "forward-looking statements" including statements regarding our intent, belief, or current expectations with respect to Resolute's business and operations, market conditions, results of operations and financial condition, and risk management practices. The words "likely", "expect", "aim", "should", "could", "may", "anticipate", "predict", "believe", "plan", "forecast" and other similar expressions are intended to identify forward-looking statements. Indications of, and guidance on, future earnings, anticipated production, life of mine and financial position and performance are also forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Resolute's actual results, performance and achievements or industry results to differ materially from any future results, performance or achievements, or industry results, expressed or implied by these forward-looking statements. Relevant factors may include (but are not limited to) changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which Resolute operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward-looking statements are based on Resolute's good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect Resolute's business and operations in the future. Resolute does not give any assurance that the assumptions will prove to be correct. There may be other factors that could cause actual results or events not to be as anticipated, and many events are beyond the reasonable control of Resolute. Readers are cautioned not to place undue reliance on forward-looking statements, particularly in the significantly volatile and uncertain current economic climate. Forward-looking statements in this document speak only at the date of issue. Except as required by applicable laws or regulations, Resolute does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in assumptions on which any such statement is based. Except for statutory liability which cannot be excluded, each of Resolute, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in these forward-looking statements and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in forward-looking statements or any error or omission.

Competent Persons Statement

The information in this report that relates to the Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Mr Bruce Mowat, a member of The Australian Institute of Geoscientists. Mr Bruce Mowat has more than 15 years' experience relevant to the styles of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person, as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (the JORC Code). Mr Bruce Mowat is a full-time employee of the Resolute Mining Limited Group and holds equity securities in the Company. He has consented to the inclusion of the matters in this report based on his information in the form and context in which it appears. This information was prepared and disclosed under the JORC Code 2012 except where otherwise noted.

Appendix 2. Recent drilling results

JORC Code, 2012 Edition - Table 1 report

Section 1 Sampling Techniques and Data

ABC Project

Section 2 Reporting of Exploration Results

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)