1. Randgold Resources… delivering profits, growth and new opportunities Denver Gold Forum, September 2008

2. Scorecard… Increased profits by 96% year on year Mined first ore from Yalea underground mine at Loulo Taken over management of Morila mine Commenced building of Tongon mine in Côte d’Ivoire Discovered Massawa deposit in Senegal Have grown reserves by 10%

3. Exploiting prospectivity of the West African gold belts… Massawa discovery Loulo gold mine Morila gold mine Kiaka deposit Tongon development project Mali BurkinaFaso Ghana Senegal Côted’Ivoire Faraba deposit Bamako

4. Profitable production is integral to value creation and return on capital invested… Mali BurkinaFaso Ghana Senegal Côted’Ivoire Loulo Gold Mine Profits …cumulated to date Oz 000s $ millions Production …cumulated to date Oz millions Production …cumulated to date Morila Gold Mine Profits …cumulated to date $ millions Loulo Morila

5. Loulo Gold Mine… A significant investment in a gold belt with enormous potential Proven and probable reserves at 7.4 Moz First ore from underground stopes heralds shift to higher grades Forecast increase in gold production ameliorates future cost pressures Millenium infrastructure projects to deliver further efficiencies Loulo Loulodistrict Faraba P64 Yalea Gara Loulo 3 Loulo 1 Baboto Gold deposits and targets Bambadji Dalema Bena Loulo Toronto Loulo 2 Kolya

6. Loulo Gold Mine…operational results Ore milled (t 000s) Ore grade milled (g/t) Recovery % Ounces produced Average price received (US$/oz) Cash operating costs (US$/oz) Total cash costs (US$/oz) Gold sales (US$000) Profit from mining activity (US$000) 1 387 3.3 91.0 133 350 784 441 483 104 316 39 847 6 months ended 30 Jun 2008 Randgold Resources owns 80% of Loulo and the Government of Mali 20%. The Government’s share is not a free carried interest. Randgold Resources has funded the Government portion of the investment in Loulo by way of shareholder loans and therefore controls 100% of the cashflows from Loulo until the shareholder loans are repaid. 12 months ended 31 Dec 2007 2 654 3.3 93.2 264 647 612 337 372 162 154 63 598

7. Loulo…Yalea underground mine Record advance of 1 048 metres achieved for Q2 2008 First stoping ore production started from 28 level Development commenced at secondary P125 decline Conveyor installation in progress and should be finalised in third quarter +28L Tabaski decline +12L access First stoping Declines are here Yalea pit Yalea underground Boxcut

8. Loulo…Yalea mine starts production from stoping operations

9. Loulo…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

10. Morila Gold Mine… Capital repaid and future cash flow is significant New ‘back to basics’ approach under the operatorship of Randgold Resources Higher input prices offset by increased production over past 5 months Six months of in pit mining remain Focus is on reengineering the business in time for the shift to dump retreatment next year Resource drilling will continue during next quarter Morila

11. Morila Gold Mine…operational results Ore milled (t 000s) Ore grade milled (g/t) Recovery % Ounces produced Average price received (US$/oz) Cash operating costs (US$/oz) Total cash costs (US$/oz) Attributable (40%): Ounces produced Gold sales (US$000) Profit from mining activity (US$000) 6 months ended 30 Jun 2008 12 months ended 31 Dec 2007 2 096 3.5 92.2 214 746 907 339 395 85 898 77 916 43 960 4 163 3.7 91.6 449 815 710 282 332 179 926 127 687 67 925

12. At Rangold Resources’ operations a focus on profits means a focus on costs… Gold price Oil price US$ / barrel Net profit Group cash operating costs US$ $ 6.8m $ 11.5m $ 18.2m $ 20.2m $ 14.5m

13. Discovery and development underscores growth forecasts… Mali BurkinaFaso Ghana Senegal Côted’Ivoire Morila Gold Mine Mali Tongon development project, Côte d’Ivoire First gold forecast for Q4 2010 2km Southern Zone Northern Zone N 2 100m 2 200m 0.5 – 1.0g/t 1.0 – 2.0g/t 2.0 – 3.0g/t 3.0 – 4.0g/t > 4.0g/t Loulo Morila Tongon Loulo Gold Mine Mali

14. Tongon…commences with site establishment and adds further proven and probable reserves Estimated pit reserves are increased to 3.08 Moz Better definition of ore zones sees an increase in grade Mining contractors have been short listed Design work on plant nears completion Main access road being upgraded Commenced construction of site village Environmental impact assessment and management plan completed Power to be supplied via the Côte d’Ivoire national grid Negotiations concluded with Ministry of Mines to settle the mining convention Tongon Construction of the bridge and water storage facility

15. Tongon…growth in ounces confirms original resource estimates and highlights further prospectivity Dec 06Sep 07Dec 07Mar 08Jun 08 Moz Resources Reserves Indicated Inferred 38.18 10.30 36.76 2.89 2.65 2.60 3.55 0.88 3.08 2.88 0.71 2.49 Tonnes Mt Grade g/t Gold Moz Gold Moz 81% atttrib. Prov & Prob

16. We continue to forecast growth in a declining industry… Oz 000’s 2400 2500 2600 2700 1997989900010203040506 tonnes 07 Gold mining industry: declining production Randgold Resources forecast attributable production

17. Discovered reserves and resources are the foundation for future growth…Moz Resources (attrib.) Reserves (attrib.) Mineral Resources total measured and indicated total inferred Ore Reserves total proved and probable 110.23 Tonnes(Mt)Grade(g/t)Gold(Moz)Gold (Moz attrib) Updated 30 April 2008 128.86 39.72 3.2211.428.53 3.46 2.81 14.32 3.58 10.84 2.84 2008 Tongon reserves grow to 3.08Moz in Q2

18. Exploration success offers additional geopolitical diversity and value potential… Mali Côted’Ivoire BurkinaFaso …drilling highlights hangingwall mineralisation Kiaka deposit …fieldwork and EM survey highlight two corridors for follow up Bambadji permit Senegal Randgold Resources fourth significant discovery Massawa …drilling completed Tongon satellites …drilling on Tiasso target Boundiali Permit Faraba deposit …new targets defined Ghana Ghana and Tanzania …generative work LouloMine MorilaMine TongonDev Bamako

19. Regional synergy… Massawa - Loulo - Bambadji JV Randgold Resources permits Bena Tomboronkoto Bambadji JV Miko Kounemba Kanoumering MALIMALI Kedougou Saraya 100 Km Dalema Proposed railway line GUINEAGUINEA to Dakar SENEGALSENEGAL Northern Zone: 1.7km 1000m true width 9.20m @ 4.80g/t Central Zone: 1.4km true width 17.65m @ 3.42g/t Massawadiscovery Loulodistrict N Kenieba window Loulo 5 Km MALI Faraba P64 Loulo 3 Loulo 1 Baboto Loulo Kolya Bena Bambadji Dalema Toronto Loulo 2 SENEGAL Gara Yalea

20. Senegal…Massawa discovery 1000m 3D block models of Northern and Central zones N Northern Zone: 1.7km true width 9.20m @ 4.80g/t Central Zone: 1.4km true width 17.65m @ 3.42g/t Northern Zone Central Zone Separate mineralised units 3.7km

21. Mali South…still hunting another Morila Tonalite (~2090 Ma) Hybridized tonalite Porphyritic mafic sill Weakly foliated metagreywacke Porphyritic mafic sills Felsic porphyry (0.2 g/t) Volcaniclastic (0.2 g/t) Fragmental / Rip-up clasts Volcaniclastic ? Chloritic fault breccia Metasomatic infiltration Zone (0.8 g/t visible Aspy) 0 50 100 150 200 250 300 350 400 450 500 Siltstones, mudstones (semi-pelitic to pelitic assemblages) Ironstone Porphyritic mafic and felsic sills (~2135 Ma) Quartz arenites, Greywackes, & volcaniclastics Diabase dykes Post-D2 pink granites and associated pegmatites Syn- to post D2 calc-alkaline tonalite-granodiorite Local statigraphy (REG015) Schematic regional stratigraphy Kalana Mine Syama Mine Yanfolila Belt Yanfolila Shear Banifing Shear Bougouni terrane Syama Belt Bougouni Belt Morila Mine N Mali South

22. Côte d’Ivoire…a new country offering prospectivity and infrastructure Nielle Permit: geology with gold targets 4.4 Moz Tongon Project 5km Boundiali Dabakala Mankono Apouasso Dignago Nielle 300km 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 Trenches: 16m @ 8.37g/t 6m @ 2.06g/t and 2m @ 12.86g/t and 4m @ 2.00g/t Kofre Tioro Yele Baya Kassere Tiasso Sani Yama Fonondara N Fonondara S Fodjo Katiali Boundiali Permit: geology with gold targets Côte d’Ivoire

23. Burkina Faso, Kiaka target …opportunity for more? KDH19 26m @ 0.60 g/t 34m @ 0.64 g/t 66m @ 0.53 g/t KDH24 129m @ 0.56 g/t KDH21 11m @ 2.30 g/t 15m @ 1.00 g/t 18m @ 1.60 g/t KDH22 2m @ 84.70 g/t 8m @ 6.24 g/t 26m @ 0.76 g/t KDH23 5m @2.00 g/t KDH17 166m @ 1.26 g/t Incl. 14m @ 1.00 g/t 38m @ 1.24 g/t 35m @ 1.85 g/t KDH21 11m @ 2.33 g/t 15m @ 1.00 g/t 8m @ 0.61 g/t Kiaka target: Interpreted geology with latest drill results Cross section Main zone HW zone 500m N Nakomgo Yibogo Kiaka Safoula Gogo Kaibo Tanema BURKINA FASO GHANA Bourou Tiakane Basgana Bole Burkina Faso

24. New opportunities today could be tomorrow’s discovery…. Randgold Resources projects, prospect and operations Total = 171 MaliSenegal follow-up targets identified Targets regional exploration 9 Tanzania 1 Burkina Faso Cote d’Ivoire Ghana 757 6 2 3 1 Morila Mine, Mali Loulo Mine, Mali Loulo U/G development, Mali Tongon development, Côte d’Ivoire reserve definition measured & indicated resources inferred resources Massawa discovery Senegal Massawa discovery Senegal advanced targets 9 2 4 26 8 8 95 14 15 9 6 7 6 11 Kiaka deposit, Burkina Faso Kiaka deposit, Burkina Faso Potential to lever Randgold Resources skills in other prospective regions and gold belts across Africa

25. Randgold Resources…summary financials 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$) Group cash operating costs per ounce** *(US$) # 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 182 232 98 425 83 807 26 505 52 251 38 391 33 877 28 333 324 275 219 248 449 401 6 months ended 30 Jun 2008 289 841 158 318 131 523 35 920 66 901 45 628 42 041 62 233 343 133 444 573 356 315 12 months ended 31 Dec 2007

26. Exploration success offers additional geopolitical diversity and value potential… Randgold Resources Newmont Red Back Semafo AngloGold Ashanti Nevsun Iamgold Orezone Resolute Moto Goldmines Gold Fields Oromin Crew Gold Cluff Gold Mineral Deposits Banro Golden Star Adamus Resources Etruscan Resources Axmin Central African Gold From high From low % Randgold Resources Semafo Orezone Red Back Moto Goldmines Banro Axmin Etruscan Golden Star Crew Gold Central African Gold Oromin Nevsun Mineral Deposits Iamgold AngloGold Ashanti Oromin Gold Fields Resolute Mining Adamus Resources Cluff Gold % Movement in stock prices for 12 months to August 2008

27. 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 2007 which was filed with the U.S. Securities and Exchange Commission on 25 June 2008. Randgold Resources undertakes no obligation to update information in this presentation.