RANDGOLD RESOURCES LIMITED Incorporated in Jersey, Channel Islands Reg. No. 62686 LSE Trading Symbol: RRS Nasdaq Trading Symbol: GOLD PROFIT AND PRODUCTION UP WHILE GROWTH PROJECTS ADVANCE London, 7 May 2009 - Randgold Resources (LSE :RRS ) (Nasdaq: GOLD) boosted net profit quarter on quarter by 41% to USUSD13.1 million in the three months to March 2009 on the back of increased production and a higher gold price. The company also reported today that: * the expansion of its Loulo complex in Mali was on track; * development of its new Tongon mine in Cote d'Ivoire was ramping up; * a scoping study on its Massawa target in Senegal had confirmed that this had the makings of a world-class orebody; and that * exceptional results from the Gounkoto discovery reconfirmed the potential of the Loulo region. Chief executive Mark Bristow said while the company had more than met its financial and operational targets for the quarter, its real achievement was the substantial progress made on a range of expansion, development and exploration projects designed to ensure sustainable production and profitable growth. Attributable production for the quarter was up 3% at 110 313 ounces and gold sales rose by 12% to USUSD87.3 million. Total cash costs per ounce of USUSD461 were in line with the previous quarter. Loulo increased production by 17% to 70 826 ounces thanks to higher ore grades and a slightly higher throughput, achieved in spite of a planned nine day shutdown required for the plant expansion project which will raise production by some 30% to 300 000 tonnes per month. The increased production was reflected in a 4% reduction in total cash costs per ounce. Production at Morila was down 16% at 98 718 ounces, in line with plan, as the operation is being converted from mining to stockpile treatment. The Yalea underground mine development, which along with the plant expansion is anticipated to increase Loulo's total production to 400 000 ounces per year by 2010, made a record advance of 605 metres in March, keeping the project on track to achieve its goal of ramping up to 120 000 tonnes of ore per month by the end of this year. Planning of Gara, the second underground mine at Loulo, is being finalised with development scheduled to start in January 2010. In Cote d'Ivoire, the development of Randgold Resources' new Tongon mine, which is scheduled to pour its first gold in the fourth quarter of 2010, is gaining momentum. Work on the infrastructure has made significant progress and the main contractor's personnel as well as the Randgold Resources management teams are currently mobilising to the site. During the past quarter, the company completed the scoping study on Massawa, which confirmed that this is a very robust project with a first inferred resource of 3.39 million ounces, capable of returns in excess of 20% at a gold price down to USUSD650 per ounce. Drilling for a prefeasibility study, due for completion by the end of this year has been given the green light by the board. Meanwhile Gounkoto on the Loulo permit is also shaping up as a significant new discovery, with recent drill intersections returning 60 metres at 16.53g/t and 10.9 metres at 43.52g/t, adding to the 46.6 metres at 13.63g/t announced previously - some of the highest recorded in the company's history. "This is a very exciting discovery - I have always said the Loulo region has legs and this certainly highlights its continuing prospectivity," says Bristow. RANDGOLD RESOURCES ENQUIRIES: Chief Executive Financial Director Investor & Media Relations Dr Mark Bristow Graham Shuttleworth Kathy du Plessis +44 788 071 1386 +44 779 614 4438 +44 20 7557 7738 +44 779 775 2288 +44 1534 735 333 Email: randgoldresources@dpapr.com Website: www.randgoldresources.com Click on, or paste the following link into your web browser, to view the associated PDF document. http://www.rns-pdf.londonstockexchange.com/rns/8230R_1-2009-5-6.pdf This information is provided by RNS The company news service from the London Stock Exchange END
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