Mr. John Welborn of Resolute reports

RESOLUTE (TREASURY) PTY LTD. ANNOUNCES FILING OF EARLY WARNING REPORT RELATED TO ACQUISITION OF UNITS OF KILO GOLDMINES LTD.

Resolute (Treasury) Pty. Ltd., a wholly owned subsidiary of Resolute Mining Ltd., has filed an early warning report announcing that Resolute acquired ownership of 24.7 million units of Kilo Goldmines Ltd. for cash consideration of $2.47-million. Each unit comprises one common share of the issuer and one common share purchase warrant of the issuer. The warrants are exercisable into 24.7 million shares of the issuer. The units were acquired by Resolute by way of private placement and not pursuant to market purchases.

After completion of the private placement, Resolute held 24.7 million shares of the issuer corresponding to a securityholding percentage of 14.6 per cent and 24.7 million warrants. Should Resolute exercise all of the warrants, Resolute would hold 49.4 million shares of the issuer, corresponding to a securityholding percentage of 25.9 per cent on a partially diluted basis. Prior to the private placement, Resolute did not own any securities of the issuer.

The units were acquired for investment purposes. Resolute will evaluate its investment in the issuer from time to time and may, based on such evaluation, market conditions and other circumstances, increase or decrease shareholdings as circumstances require. Resolute has agreed with the TSX Venture Exchange and the issuer to not exercise such number of warrants that would result in Resolute becoming a control person of the issuer (as such term is defined in the policies of the TSX-V) without prior shareholder approval.