Investing in discovery …delivering value and profits BMO Nesbitt Burns 2006 Global Resources.Conference LSE RRS NASDAQ GOLD

Another year of profits and more value… successive years of profits Morila…a significant contributor to bottom line Loulo…converting discovery through development Deep drilling confirms Loulo’s world class potential Tongon…another discovery at prefeasibility Commitment to organic growth sees exploration and drilling in six countries Randgold Resources claims its place as a fully independent gold mining company Balance sheet strengthened following a successful equity raising Five ...Six …more to come …commissioned …starts 2006 …progress …resources grow …we rest our case!

Loulo Gold Mine…our second new mine in 5 years Phase 1 plant performance satisfactory – throughput, recovery and reagent utilisation have all met forecast levels Randgold Resources’ project management team takes over ‘day to day’ management of the project from the contractor, MDM, meeting the challenge of: practical completion of the Phase 1 circuit this quarter putting the construction of the Phase 2 hard ore crushing circuit back on track Operation of softer ore Phase 1 to be extended through: processing of available soft ore stockpiles and ore to be mined use of mobile crushing facilities to process transitional material futher infill drilling to complete mine plan at P129 pit Total Loulo resource increases to 9 million ounces

Loulo Gold Mine…successful commissioning despite the challenges Phase 1 plant operational performance Tons milled Recovery 250000 100 % 90 % 200000 80 % 70 % 150000 60 % 50 % 100000 40 % 30 % 50000 20 % 10 % 0 % Sept Oct Nov Dec 2005

Loulo Gold Mine… operational results Quarter and 12 mnths ended 31 Dec 2005 Ore milled (t 000s) Ore grade milled (g/t) Recovery % Ounces produced Attrib. ounces produced Cash operating costs (US$/oz) Total cash costs (US$/oz) 551 4.5 94.3 67 984 54 387 137 165

Loulo Gold Mine… Phase 2 on track Phase 2 hard ore crushing circuit Scheduled for completion during second quarter Randgold Resources strengthens construction team All crushers en-route to Loulo Civils on critical path Majority of structural steel on site

Loulo Gold Mine…U/G drilling continues to expand high grade zones Yalea deposit 1km Loulo 0 P129 Yalea drill intersections YDH222: 5.8m @ 3.04g/t YDH243: 12.4m @ 2.3g/t YDH245: 11.6m @ 6.3g/t YDH231: 5.9m @ 6.5g/t 500m bs YDH221: 17.8m @ 4.39g/t YDH232: 11.4m @ 7.4g/t YDH247: 40.8m @ 6.9g/t Incl. 7m @ 8.8g/t 4.6m @ 12.6g/t and 3.8m @ 11.9g/t YDH233W: 3.8m @ 6.9g/t YDH191: 22.3m @ 7.7g/t YDH248: 5.8m @ 8.3g/t YDH230: 9m @ 3.6g/t incl. 4.1m @ 5.4g/t YDH246: 10m @ 7.3g/t incl 4.3m @ 10.1g/t >8 g/t 5-8 g/t 3-5 g/t 1-3 g/t <1 g/t Gold value YDH237: 4.77m @ 23.48g/t YDH217: 21.4m @ 8.5g/t incl. 6.7m @ 12.7g/t YDH225: 1.6m @ 3.9g/t (partially faulted out) YDH223: 33.8m @ 8.31g/t incl. 19.2m @ 12.81g/t YDH190: 7m @ 10.11g/t and 9.26m @ 5.47g/t

Loulo Gold Mine… U/G development plans improved and extended on the back of additional project resources Yalea Orebody: Original U/G plan Spiral decline Truck transport 550m depth 550m BS New U/G plan Straight declines Conveyor belt transport Plus 550m depth 550m BS

Loulo LOM production forecast …a world class profile Unscheduled Resources Loulo 0 U/G Yalea U/G Loulo 0 O/C Yalea O/C 50 100 150 200 250 300 350 400 450 5.5 g/t recovered 5 g/t recovered Ounces 000’s per annum 2006 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 22 2023

Morila Mine… a strong performance Morila produces 651 110 oz of gold for the year exceeding earlier forecasts Pays dividends of US$90 million to its shareholders Extension drilling delineates additional resources A 40 000m exploration programme currently underway within the 200km² lease area

Morila Mine… operational results Quarter ended 31 Dec 2005 Quarter ended 30 Sept 2005 12 mnths ended 31 Dec 2005 12 mnths ended 31 Dec 2004 Ore milled (t 000s) Ore grade milled (g/t) Recovery % Ounces produced Attrib. ounces produced Cash operating costs (US$/oz) Total cash costs (US$/oz) 946 5.2 90.8 146 049 58 420 290 326 1 010 5.8 91.4 172 901 69 160 166 197 3 763 5.9 91.7 651 110 260 444 189 221 3 512 5.2 87.9 510 485 204 194 158 184

Morila Mine... replaces ounces mined Morila Pit N S Tonalite Extension Resources: Tonnes Mt 2005 Tonnes Mt 2004 Grade g/t 2005 Grade g/t 2004 Gold Moz 2005 Gold Moz 2004 Attrib. Gold Moz Measured and indicated 34.07 3.78 29.28 4.47 2.84 3.19 3.20 3.79 3.11 0.39 3.01 0.54 1.24 0.16 Inferred

Côte d’Ivoire…phased approach to restart field work 300km N Tongon Deposit Inferred Resource (Northern and southern zones): 3.11 Moz @ 2.69 g/t Nielle Boundiali Southern Pit: Potentially mineable resource: 13 Mt @ 3.53 g/t (1.48 Moz) 6 year life Capex: US$ 110m Cash cost: US$ 260 - 270 Feasibility drilling programme Exploration on other permits Initial field programme with strategic drilling Reconstruction of camps October elections

Exploration…expands opportunities across Africa East Africa: Tanzania N West Africa: Randgold Resources licences JV licences Sadiola Mali Burkina Faso Loulo Nyabigena Nyabirama Buhemba Kiabakari Geita Tulawaka Bulyanhulu Golden Ridge Golden Pride Lake VIctoria Morila Senegal Syama Lero Siguiri Ghana Ahafo Côte d’Ivoire Akyem Bogosu Obuasi Prestea Tarkwa 600km Randgold Resources permits 10km

Loulo Project upside… Faraba 600m 26 holes drilled for a total of 3 385m. 13 results received with zones ranging between 29m and 92m grading between 1 and 3 g/t with higher inclusions of: 11m @5.5g/t 6m @ 11.3g/t 7m @ 6.4g/t 10km Sitakily Segala Tabakoto Loulo Permit Selou N Loulo 0 P129 P64 Faraba Yalea Weathering depth : -45mV 26m @ 3.3g/t 39m @ 2.15g/t 78m @ 1.6g/t with 57m @ 2.0g/t 5m @ 4.87g/t 7m @ 6.43g/t Faraba Main target Faraba FARC004 drill section

Loulo Project upside… P64 P64RC06 71m @ 1.67g/t incl 48m @ 1.81g/t 14m @ 5.45g/t and 16m @ 2.07g/t 10km Sitakily Segala Tabakoto Loulo Permit Selou N Loulo 0 P129 P64 Faraba Yalea P64RC05 81m @ 1.75g/t incl 5m @ 2.45g/t 4m @ 2.64g/t 4m @ 12.6g/t and 5m @ 6.86g/t 280m P64 target map and RC results

Mali West…Loulo Region Randgold Resources’ permits with satellite deposits and gold targets Yatela Sadiola N Baboto West MALI Baboto PQ10 LOULO REGION Loulo 0 Sitakily Loulo 1,2.3 P129 Yalea S Etruscan Sakola Yalea Segala Axmin Loulo Permit Tabakoto Sitakily P64 Loulo 0 Faraba Segala Bena Permit Yalea Sinsinko Randgold permits Tabakoto Selou Permit Boulandissou SENEGAL 10km 25 km

Mali - Morila mining lease… upside resource potential More definition drilling at: N Western Margin Morila Mine Morila Pit Samacline Tonalite Tactical Drilling Programme 800m 6km

Southern Mali…another look at an exciting region Morila Area Field program involving leading consultants generating conceptual, ‘Morila Type’ targets for drilling in 2006 OMRD Permits Pitting and mapping in progress on 11 targets with an aim to RAB testing robust anomalies in early 2006 Morila and Morila Area Study of Hyperion satellite Hyperspectral data and ASTER data over Morila Mine and surrounding area with an aim to identifying spectral and structural signatures associated with mineralisation. N Morila Niame – 395 samples collected from 1km x 200m grid over sheared mafics and sediments. Results pending Morila area and Birrimian of Southern Mali Audit underway on RRL Geophysical data, processing and modeling with an aim to identifying new surveys and techniques Syama Kalana Dieba/Kemogola – 1,318 samples collected from 1km x 250m grid. Results pending Southern Mali Comprehensive mineral intelligence and aggressive regional target generation to ensure continual supply of high quality targets to base of resource triangle. Diosyan - 947 samples on two separate 1km x 200m grids were collected in November 2005. Results pending Randgold exploration permits

Senegal…prioritising drill targets and adding to portfolio 20km Madina Bambaraya: New trench intersections BBTR007: 27.2m @ 1.67g/t incl 18m @ 2.26g/t BBTR008: 8m @ 0.3g/t. N Makana JV Miko Makana JV: A 200m by 50m soil sampling initiated at Makana JV East. Partial soil sent to the lab for assays and results awaited Kounemba Kanoumering Sofia: Significant geochemical anomaly being evaluated Permits under application Tomboronkoto

Burkina Faso…solid strategic footprint with a focus on exploration Essakane 2.7Moz @ 1.6g/t Bouroum 0.45Moz @ 1.1g/t Taparko 1.04Moz @ 2.6g/t Samira 1.5Moz @ 1.5g/t Bombore 1.1Moz @ 1.6g/t Tanema Nakongo Youga 1.19Moz @ 2.1g/t Kaibo Yibogo Basgana Kiaka N 30km Regional Aeromagnetic Survey Bourou Kampala Tiakane BENIN TOGO GHANA 200km

Ghana…another round of exploration driven by our generative team Nangodi West Bole NE N Bui Licence Obuasi Mine Ahafo Mine Bibiani Mine Akyem Mine Chirano Mine Damang Mine JV with Central Goldfields Tarkwa Mine Randgold Resources’ licences 80km

Tanzania…strong land position with first ‘walk up’ drill target Lake Victoria Mara Greenstone Belt Musoma Greenstone Nyabigena 50km N Old Kiabakari Mine Buhemba Nyabirama Kiabakari exploration licence awarded Preliminary reconaissance drilling to commence at Kiabakari Randgold Resources licences JV licences

Creating value through organic growth… Loulo Mine Sustainable production Morila Mine Value Loulo U/G Tongon Côte d’Ivoire Value creation Faraba Mali P64 Mali Sitakily Mali Exploration Senegal Tanzania Burkina Faso Ghana Time

Income Statement…a profitable business Quarter ended 31 Dec 2005 Quarter ended 30 Sept 2005 12 mnths ended 31 Dec 2005 12 mnths ended 31 Dec 2004 US $ 000s Gold sales Profit from mining Depreciation Explor. and corp. expenditure Profit from operations Interest, tax, rehab and other Profit on sale of Syama Gain / (loss) on fin. instruments Net profit for the period Attrib to: Minority interest Equity shareholders 60 553 30 315 4 733 6 715 18 299 (5 873) - 12 426 2 349 10 077 31 000 17 059 2 275 4 993 9 225 (60) - 54 9 219 151 502 82 759 11 910 21 802 46 800 (5 967) - 54 40 887 2 349 38 538 73 330 35 850 8 738 15 529 10 262 (771) 7 070 2 232 18 793 -

Consolidated Balance Sheet… investing in our own future 31 Dec 2005 At 31 Dec 2004 Assets US$ 000s Cash and equivalents Current assets Current liabilities Property plant and equipment - net Other long - term assets 152 452 82 394 (59 899) 202 636 30 428 408 011 78 240 39 799 (15 804) 129 854 20 568 252 657 Liabilities and Equity Long-term debt Deferred liabilities on financial instruments Rehabilitation provision Outside shareholders’ interest in subsidiaries Shareholders’ funds Deferred income tax liabilities 49 538 34 151 9 480 3 878 309 737 1 227 408 011 40 718 15 448 3 701 1 621 191 169 - 252 657

Randgold Resources… an independent gold business creating value through exploration, development and production July 2002 Feb 2006 Randgold Resources Nasdaq Listing 100 200 300 400 500 600 Randgold Resources Newmont Meridian Gold AngloGold Ashanti Goldcorp Gold Industry Index

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, 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 2004 which was filed in amended form with the U.S. Securities and Exchange Commission on 1 Nov 2005, as well as the prospectus filed on form F3 on the same date.. Randgold Resources undertakes no obligation to update information in this presentation.