Mr. John Welborn of Resolute reports

RESOLUTE (TREASURY) PTY LTD. ANNOUNCES FILING OF EARLY WARNING REPORT REGARDING ADDITIONAL INVESTMENT IN KILO GOLDMINES LTD.

Resolute (Treasury) Pty. Ltd., a wholly owned subsidiary of Resolute Mining Ltd., has acquired 21,868,000 common shares of Kilo Goldmines Ltd. pursuant to a private share purchase agreement at a price of 11.5 cents per purchased share, which is being satisfied through the issuance of 1,457,867 ordinary shares of Resolute Mining. The purchased shares acquired under the private acquisition represent approximately 11.6 per cent of the current issued and outstanding common shares of the company.

Following completion of the private acquisition, Resolute will own: (i) 46,568,000 common shares, and (ii) 24.7 million common share purchase warrants of the company. Accordingly, today's acquisition of the purchased shares brings the total number of common shares owned by Resolute to 71,268,000, representing approximately 36.6 per cent of the current issued and outstanding common shares on a partially diluted basis, assuming the exercise in full of the warrants.

Resolute acquired the purchased shares pursuant to the private acquisition for investment purposes. Resolute reviews its holdings in the company on a continuing basis, and may from time to time, in their sole discretion, acquire or cause to be acquired equity or debt securities or other instruments of the issuer, or dispose or cause to be disposed such equity or debt securities or other instruments, through open market transactions, private placements by the company and other privately negotiated transactions or otherwise, in each case in accordance with applicable securities laws.

This news release is being issued in accordance with National Instrument 62-103, the early warning system and related takeover bid and insider reporting issues, in connection with the filing of an early warning report dated Oct. 26, 2016. A copy of the early warning report relating to Resolute's acquisition of the purchased shares is available under the company's profile on SEDAR and may also be obtained by contacting Resolute.