Randgold Resources New York, May 2008

Randgold Resources…a pure gold company with a focus on creating value 2 Market cap in 1997 US$ 147 million Market cap in 2008 US$ 3.5 billion Purpose: Incorporated: Secondary Listing 2002: Primary Listing 1997: Shares outstanding: Balance sheet strength: cash and financial assets US$ million 76.2 million Nasdaq…Symbol: GOLD LSE…Symbol: RRS Jersey, Channel Islands in 1995 To create value for all stakeholders by developing and operating profitable gold mines value time

Discovered 3 multi million ounce orebodies, financed and developed 2 world class gold mines with the third in progress… Massawa advanced target Loulo Mine Faraba advanced target Morila Mine Tiasso advanced target Tongon S target Kiaka advanced target Tongon development project MALI SENEGAL BURKINA FASO GHANA Tongon E target CÔTED’IVOIRE

Highlights of Q1 2008… Net profit up 25% on previous quarter in spite of industry cost pressures Morila delivers satisfactory performance but reduces production guidance for the year Loulo delivers strong production to support annual group forecast Yalea underground development intersects orebody and first development ore delivered to plant Continued infill drilling at Tongon delivers a 52% increase in reserves Equity participation in Tongon project increased to 81% Initial results from a metre drilling programme confirm significant mineralisation at Massawa Exploration drilling to focus on three advanced targets

Loulo Gold Mine… the company flagship Production maintained in line with current mine plan Profit from mining increases in spite of higher cash costs Additional tonnes mined continues to add to mining flexibility ahead of the rainy season Orebody intersected at Yalea underground and first development ore delivered to processing plant

Loulo Mine…operating results Quarter ended 31 Mar 2008 Quarter ended 31 Dec months ended 31 Dec 2007 Ore milled (t 000s) Ore grade milled (g/t) Recovery % Ounces produced Attrib. ounces produced (80%) Cash operating costs (US$/oz) Total cash costs (US$/oz) Gold sales (US$000) Profit from mining activity (US$000) Quarter ended 31 Mar

Yalea underground intersects orebody… On schedule to establish mining faces by midyear Targeting steady state production by year end Plan to access ‘purple patch’ by second half of 2009 Short term focus on integrating underground mining team into Loulo operation Yalea boxcut P125 pit Yalea orebody We are here

Gara underground mine development on schedule… Busy with final selection of portal position Focus is on balancing conveying distance, development metres and ground conditions with life of mine operating costs Development to commence January 2009 Steady state production targeted for 2011 Conceptual Gara underground development Gara pit

Morila Gold Mine…focus on operational efficiencies Randgold Resources takes over operatorship on 15 February and completes on site due diligence audit Higher than planned grades compensate for lower throughput caused by poor plant availability Revised orebody model suggests lower tonnage at lower grades Production guidance for 2008 reduced to ounces Advanced grade control drilling prioritised to enable life of mine reserves and plan Focus is on increasing plant availability and throughput Exploration to develop new targets for drill testing in Q4

Morila Mine…operational results Quarter ended 31 Mar 2008 Quarter ended 31 Dec months ended 31 Dec 2007 Quarter ended 31 Mar Ore milled (t 000s) Ore grade milled (g/t) Recovery % Ounces produced Cash operating costs (US$/oz) Total cash costs (US$/oz) Attributable (40%): Ounces produced Gold sales (US$000) Profit from mining activity (US$000)

Tongon development project… a growing reserve base Probable reserves increased by 52% to 2.44 Moz Randgold Resources stake in project increased from 76.5% to 81% Public Participation Process conducted Plant design progressed and long lead items being ordered Discussions continue towards conclusion of the mining convention General election scheduled for end November 2008

Tongon orebodies…drilling to test depth extensions 0.5 – 1.0g/t 1.0 – 2.0g/t 2.0 – 3.0g/t 3.0 – 4.0g/t > 4.0g/t 2 100m 2 200m Northern Zone Northern Zone Southern Zone Southern Zone Southern Zone Northern Zone N 2km Mineral resources indicated inferred g/t g/t Ore reserves probable g/t Plus potential mineable inpit resource: Plus potential mineable inpit resource: 0.37 Moz

Exploration…delivering growth opportunities Massawa advanced target Loulo Mine Faraba advanced target Morila Mine Tiasso advanced target Tongon S target Kiaka advanced target Tongon development project MALI CÔTED’IVOIRE SENEGAL BURKINA FASO GHANA Tongon E target

Senegal - Massawa…significant mineralisation over 7 km DDH g/t 2.00 g/t 1.09 g/t g/t 1.09 g/t g/t 0.70 g/t DDH g/t 31.04g/t 1.93 g/t 0.83 g/t 0.44 g/t DDH g/t incl: 4.20 g/t g/t 0.70 g/t DDH g/t incl: 3.65 g/t 0.58 g/t 1.55 g/t DDH g/t 1.13 g/t 4.70 g/t 1.50 g/t 2.40 g/t DDH g/t incl: 7.32 g/t RAB 256: 1.24 g/t 259: 2.95 g/t Incl: 5.50 g/t RAB 239: 1.35 g/t Incl: 4.25 g/t 1.52 g/t 241: 0.47 g/t RAB 208: 0.69 g/t 209: 1.32 g/t Incl: 2.01 g/t 216: 0.50 g/t RAB 180: g/t Incl: 3.47 g/t 175: 0.64 g/t RAB 171: 0.50 g/t 170: 1.14 g/t 169: 0.70 g/t 168: 0.40 g/t DDH g/t g/t 0.18 g/t RAB 226: 0.97 g/t Incl: 1.49 g/t 227: 0.87 g/t Incl: 2.07 g/t 2.23 g/t RAB 198: 0.20 g/t 200: 1.32 g/t Incl: 10.10g/t 201: 0.23 g/t RAB 298: 1.66 g/t Incl: 3.05 g/t 2.10 g/t 299: 1.62 g/t 301: 2.63 g/t RAB 238: 0.40 g/t Incl: 1.00 g/t 258: 0.69 g/t Incl: 1.99 g/t 388: 2.63 g/t Incl: g/t RAB 290: 1.20 g/t 291: 9.40 g/t Incl: 0.49 g/t 1km

Bena Tomboronkoto Bambadji JV Miko Kounemba Kanoumering MALIMALI Kedougou Saraya Dalema Proposed railway line GUINEAGUINEA to Dakar Loulo Region…a dominant land position within the highly prospective Kenieba inlier Loulo N SENEGALSENEGAL Faraba Target with proposed drill holes BabotoTarget Loulo 3 Target MassawaTarget OPEN NORTH SOUTH FADH g/t FADH g/t Proposed drill holes FADH g/t FADH g/t Faraba North FADH g/t and 9.11g/t FADH g/t FADH g/t Bambadji Dalema Loulo Bena Randgold Resources permits Inferred resource of g/t Faraba Main 100 Km 5 Km

Mali south…hunting for another Morila Morila mine Kalana Mine Syama Mine Yanfolila Belt Yanfolila Shear Banifing Shear Bougouni terrane Bougouni Belt Syama Belt Bagoe West 36 RAB holes totaling 967m; 345 samples collected over 3 drill targets identified to intersect NE structures. Pitting programs in progress Titona New 70 km2 authorisation for exploration granted. Infill geochemistry completed, geological mapping and interpretation ongoing Bagoe East 3669 RAB holes totaling 1876m. 662 samples collected over 4 drill targets to check the extension of the existing known mineralisation N

Côte d’Ivoire…a golden opportunity Nielle Permit: Geology with gold targets Nielle Permit: Geology with gold targets 4.4 Moz Tongon Project 5km Tiasso Boundiali Dabakala Mankono Apouasso Dignago Nielle 300km Boundiali Permit: Tiasso and other targets Boundiali Permit: Tiasso and other targets Gold in soil (ppb) Tongon East Soloni A & B Koro North Koro Poungbe Koulivogo Oleo South Oleo North Tongon South Tiebila East Oleo Yvette-Nafoun Nafoun East Tongon Northern and Southern Zone N Trenches: 8.37g/t 2.06g/t and 12.86g/t and 2.00g/t 15km

Burkina Faso…remains a prospective destination Nakomgo Yibogo Kiaka Safoula Gogo Kaibo Tanema BURKINA FASO GHANA Bourou Tiakane Basgana Bole Niaogo-Gozi Goulanda Kiaka east Limsega north Limsega east Limsega south Sinikere Kaibo east Sondo Dam Toula Basgana centre Basgana south Waleme north Waleme south Nazinga north Nazinga south 1 500m of diamond drilling commenced at Kiaka to test plunge of anticline to North where last hole returned 1.3g/t m of RAB drilling underway at Limsega, Goulanda and Waleme Pitting and trenching at Basanga, Kaibo East, Sinkere, Kiaka Dam and Toula gold targets RRL permits Kiaka

Ghana...advancing early stage targets Navrongo Prospect Bole NE RL Fumbisi Prospect Zamsa South Kadema Prospect Zamsa North Bole NE Concession Randgold Resources permits 80km Akyem Mine Damang Mine Tarkwa Mine Obuasi Mine Chirano Mine Bibiani Mine Ahafo Mine Bole NE Ghana Burkina Faso N Fanoma Enyinase Côte d’Ivoire Prestea Mine

Tanzania…searching for new opportunities Randgold Resources permits N Tanzania North Mara Permits Nyabigena South Mtamba Regional soils completed, assays outstanding, 3 identified Targets Miyabi JV RAB Drilling (99 holes, 3402m) On 3 regional Au-Cu targets In NW corridor Tabora Region Generative Targets

Constant investment in exploration supplies an ongoing pipeline of opportunities… value time Morila mine exploration discovery production development Loulo opencast mine Loulo underground development Tongon development project New opportunities Tanzania, Ghana Burkina Faso Kiaka scoping study Senegal - Massawa

Summary Financials… it’s the profits that count US $ 000s Gold sales # Total cash costs* Profit from mining activity* Exploration and corporate expenditure Profit before income tax Net profit Net profit attributable to equity shareholders Net cash generated from operations Cash and financial assets Attributable production**(ounces) Group total cash costs per ounce** *(US$) Group cash operating costs per ounce** *(US$) Quarter ended 31 Dec 2007 Quarter ended 31 Mar months ended 31 Dec 2007 Quarter ended 31 Mar 2007 # Gold sales does not include the non cash profit/(loss) on the roll forward of hedges * Refer to explanation of non-GAAP measures provided ** Randgold Resources consolidates 40% of Morila and 100% of Loulo

Reserves and resources… the foundation for future growth Moz Resources (attrib.) Reserves (attrib.) Mineral Resources total measured and indicated total inferred Ore Reserves total proved and probable Tonnes(Mt)Grade(g/t)Gold(Moz)Gold (Moz attrib) Updated 30 April

Forecasting growth in a declining industry… *Randgold Resources owns 80% of Loulo, 81% of Tongon and 40% (left-hand column) of Morila but consolidates 100% of Loulo, 100% of Tongon and 40% (right-hand column) of Morila in terms of IFRS accounting standards Production ounces 000’s

The market invests in pure gold… 35%15%-5%-25%-45% GOLD ELD CN HL DROOY HMY GBG CN AEM BVN G CN K CN OZN CN YRI CN GSC CN GFI PAN SJ GAM CN RGLD MFL CN ABX RBI CN NEM LIHR AU AFO SJ GRZ CN IMG CN CDE HRG CN Source: BJM Gold Weekly 28 April 2008 Gold Equities: 2008 year to date RandgoldResources

Looking ahead… Growing the team with the business Managing efficiencies as Morila moves to a stockpile retreatment operation Yalea underground stoping is key to Loulo’s future Mobilising the Tongon development team ahead of construction Focus to remain on evaluating and adding to our project pipeline Evaluating external opportunities as important as developing new exploration targets

disclaimer… The presentation is not for distribution in, nor does it constitute any offer of securities for sale. Statements made in this presentation with respect to Randgold Resources’ current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of Randgold Resources. These statements are based on management’s assumptions and beliefs in light of the information currently available to it. Randgold Resources cautions you that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, and therefore you should not place undue reliance on them. The potential risks and uncertainties include, among others, risks associated with: fluctuations in the market price of gold, gold production at Morila and Loulo, the development of Loulo and estimates of resources, reserves and mine life. For a discussion on such risk factors refer to the annual report on Form 20-F for the year ended 31 December 2006 which was filed with the U.S. Securities and Exchange Commission on 25 June Randgold Resources undertakes no obligation to update information in this presentation.