1. LSE (RRS) Nasdaq (GOLD)
A DECADE OF DELIVERY
LSE (RRS) Nasdaq (GOLD)

2. Randgold Resources…a return driven business with a decade of delivery
Five 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 prefeasibilty
Commitment to organic growth sees exploration and drilling in six countries
Randgold Resources claims its place as a fully independent gold mining company

3. Randgold Resources… strategically driven
Discovered
Morila
Develop
Morila
Bought
BHP Mali
Develop
Loulo
Discovered
Yalea
US$
Commissioned
Morila
460
420
380
340
300
260
220
Sold
Syama
Gold Price
Privately
Incorporated
Listed on
LSE
Listed on Nasdaq
Jan 95
Jan 96
Jan 97
Jan 98
Jan 99
Jan
2000
Jan 01
Jan 02
Jan 03
Jan 04
Jan 05
10 years old

4. Creating value… a future full of promise
Morila
market pays a premium
Loulo
Morila Gold Mine
‘cash cow’
Loulo Gold Mine Dev
opencast
organic growth
Loulo
U/G
market pays
full value
Tongon
Loulo U/G Dev. Study
more growth, longer life
Loulo 0
Mali /
Senegal
Tongon Prefeasibility
pipeline
valuation?
New
Opportunities
Burkina Faso
Ghana
Tanzania
Exploration success
the foundation of our business
Exploration
Drill targets
Feasibility
Development
Production

5. Africa 10 years ago …a new destination for many
Anglo American/
Iamgold
Ashanti
Nevsun
Oliver Gold/CMC
Azco
Golden Knight
La Source
Emerging Africa Gold
Echo Bay
Channel Resources
Eden Roc
Trillion
Falconbridge
Samax
JCI
BRGM
Paget
Pan African Res
Randgold
Samax
Sutton
Resolute
Ashanti

6. Africa…Randgold Resources claims significant share of major discoveries of the 90’s
Goldfields
Yatela
Sadiola
Morila
Placer
Dome
Loulo
Tarkwa
Siguiri
Tongon
Damang
Barrick
Afrika Mashiriki
Geita
Tulawaka
Bulyanhulu
Golden Pride
AngloGold
Ashanti
Resolute

7. Mali - Morila Mine JV… MALI … 3.1 million ounces produced to date
0.5 1
1.5 2
2.5 3
2000
2001
2002
2003
2004
100
200
300
400
500
600
US$ million
million ounces
Total production
Total cash profit
… 3.1 million ounces produced to date
… US $670 million cash profit to date
…Morila exceeds ounces at $184/oz in 2004
…2005 forecast to exceed oz
…Orebody extensions add to resource inventory

8. Mali - Morila Mine JV …orebody extensions
Outline of mineralisation identified by drilling N
MSZ
extension
Morila
pit
Samacline
target
Gold grades
>5g/t
3-5g/t
2-3g/t
1-2g/t
<1g/t
Pit 5
Tonalite ext
800m

9. Mali…Loulo Gold Mine construction
…second discovery being developed
…finance in place with first draw down in December 2004
…on track for July gold production
…mills on the way to site
…operational management team on site
…a significant ‘goldfield’ in its own right

10. Mali - Loulo Gold Mine Project …development programme
2005
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Construction of plant and infrastructure
Soft rock crushing, milling
and gold recovery
Phase 1
Competent rock crushing
and stockpile
Phase 2
Loulo 0
Open-pit Mining
Yalea
soft ores
Phase 1
Plant Commissioning
competent ores
Phase 2
soft ores
Phase 1
Gold Production
competent ores
Phase 2

11. Randgold Resources… a business with a value focus
115 exploration targets
Commitment to organic growth sees activities in six countries
Aggressive review of portfolio on back of exploration drilling
Generative focus in Ghana, Burkina Faso and Tanzania
Drilling in Mali, Senegal, Burkina Faso and Tanzania
Cote d’Ivoire most underexplored Birrimian terrain in West Africa
Watch this space for new approach
Morila
Senegal
Mali
Côte
d’Ivoire
Tanzania
Burkina
Faso
Ghana
Identified geological anomalies
Exploration targets 70 33 12
Morila Mine
Loulo Gold Mine
Mines and
Mine evaluation
projects
Loulo 0 U/G
Yalea U/G
Feasibility projects and
Resource / reserve
definition
Tongon
Loulo Satellites
Acquisitions
Joint
Ventures
Organic
Growth

12. Exploration… Mali - Loulo prospectivity
- Down dip extension
- Strike extensions
- Satellites
- Anomalies
- New targets

13. Mali…Loulo underground adds long-term value
Yalea
grade model
-500m
-400m
-200m
-300m
Grade
>8 g/t
5 – 8 g/t
3 – 5 g/t
1 – 3 g/t
0.5 – 1 g/t
existing drill holes
1000m
Structure Contour Plan
of the Yalea Shear Zone
(with gold content
projected onto
contoured surface)
Sub-horizontal
shoot along
Intersection with
FW splay
trending shoot
Large shoot
in steep left-
hand flexure
Shoot on steeply
dipping part of the
Yalea Shear Zone
Shoot parallel with
Intersection of north and
020 trending fault segments
fault
trending
shoot in minor
left-hand bend
500m
50 metre contour interval
high
low

14. Mali…Loulo upside Permits with proposed exploration drilling for 2005
Sitakily
Baboto
West
PQ10
P129
Yalea
Loulo 0
Yalea S
Loulo 1,2.3
Sakola
Segala
Tabakoto
P64
Faraba
Loulo
Permit
Selou
10km N
Possible NNE Trending Structures
Modelled Chargeability Section
Blue – Low Values
Red – High Values
Yalea wireframe
Yalea Mylonite mapped on surface
Induced polarisation survey
results over Yalea wireframe and interpreted survey results over Yalea South
Faleme
River
Possible NNE structure
2km
Yalea South “look-a-like” response
Priority Target 1200m long
Permits with proposed exploration drilling for 2005
Possible NNE structure
YSDH03
g/t from 107m
g/t from 169m

15. Mali…Morila regional footprint
Morila Mine
Sagala
Kekoro
Tiorola
Morila
Diokelebougou
Dionkala
Koba
20km N
MALI

16. Côte d’Ivoire…Tongon deposit
300km
COTE D’IVOIRE
Nielle
Mankono
Boundiali
Dabakala
Sikolo
Tongon N
INFERRED RESOURCE… g/t
7.31g/t
3.61g/t
3.18g/t
7.62g/t
2.45g/t
2.49g/t
2.57g/t
g/t
g/t
g/t
Randgold Resources
permits
2.42g/t
3.55g/t
1400m
4.27g/t
Drill holes superimposed
on geology and ore zones

17. Senegal…priority drilling
Tomboronkoto
Permit
Kanoumering
Kounemba
Sabodala
Mankana 2
Kaviar
Sofia
Mandinka KB
Tombo
Bambaraya
20km
SENEGAL N
Current drill targets

18. Burkina Faso… focus on size and infrastructure
Kiaka Permit % [ ' , ! # $ 1 4 2 5 3 9 6 8 7 M a r k e t Ó
Diamond
drill hole
programme N
MDH01
1.74g/t
1.15g/t
>1Km
Danfora
Ouagadougou
Kiaka
KAT01
MDH02
9.45g/t
0.62g/t
1.07g/t
MDH03
0.65g/t
2.93g/t
1.41g/t
1.26g/t
200m
Danfora Permit
142 sample results from southern zone, with 38 returning an average of 8.3 g/t

19. Tanzania…a generative focus
Cover Basalts in excess of
80m thick awaiting larger
rig to penetrate N
Musoma-Mara arc
Sulphide rich lithology
results pending
100km
Lake Victoria N
Mobrama
Outer arc
Nyabigena
South
Inner arc
Weak silicified zones
with discrete pyrite
0.9 g/t
0.1 g/t

20. Ghana… the challenge of a mature domain
TA1-025
0.71g/t
0.21g/t
0.13g/t Õ G Ç
Obuasi
Mine
Lease
Adansi JV
20km N Ç G
GHANA

21. Consolidated Income Statement…
Year
ended
31 Dec
2004
Year
ended
31 Dec
2003
Year
ended
31 Dec
2002
US $ 000s
Gold sales
Profit from mining Depreciation
Explor. and corp. expenditure
Profit from operations
Interest, rehab and other
Profit on sale of Syama
Gain / (loss) on fin. instruments
Profit for the period
Minority interest and tax
Net profit
73 330
35 850
8 738
15 529
11 583
(771)
7 070
2 232
20 114 -
78 926
10 269
17 007
51 650
(2 742) -
(1 733)
47 175
351
47 526
8 765
16 686
74 750
(8 716) -
(346)
65 508
220
65 728

22. Does the market value profits?
Net profit vs Market Cap for the period from 2000 to 3Q 2004
3000
2500
Goldcorp
2000
Market Cap US $ million
Meridian
1500
Bema
1000
Iamgold
Randgold
Resources
500
Cambior
Golden Star
-200
-100
100
200
300
Net profit US $ million

23. Randgold Resources… capable of investing in its own future
Consolidated Balance Sheet At
31 Dec 2004
US$ 000s
Assets
Cash and equivalents
Current assets Current liabilities
Property plant and equipment - net
Other long - term assets
78 240
39 799
(15 584)
20 568
Liabilities and Equity
Long-term debt
Deferred liabilities on financial instruments
Rehabilitation provision
Outside shareholders’ interest
in subsidiaries
Shareholders’ funds
40 718
15 668
3 701
1 621

24. Randgold Resources …we hunt value
15 million ounces
discovered
MALI
SENEGAL
TANZANIA
GHANA
COTE
D’IVOIRE
BURKINA
FASO

25. Randgold Resources …a ‘value-orientated’ investment
Shareholder Distribution
Management
RG&E (RRH) 1%
6.72%
Marketmaking &
Stocklending accounts
UK Retail
& other
0.31%
1.94%
US Retail
ADR & Brokerage
Institutions
30.26%
59.77%

26. Questions…
DISCLAIMER: Statements made in this presentation with respect to Randgold Resources’ current plans, estimates, objectives, strategies and beliefs and other statements that are not historical facts are forward looking statements about the future performance of Randgold Resources. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “intends”, “expects”, “estimates”, “may”, “could”, “would”, “will” or “plan”. Such forward-looking statements are made pursuant to the safe harbour provisions of the U.S. Private Securities Litigation Reform Act of Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. 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. Further information regarding such risk factors and other factors which may cause results to differ materially from those discussed in the forward-looking statements are included in the annual report on Form 20-F for the year ended 31 December 2003, which was filed with the United States Securities and Exchange Commission (the “SEC”). Randgold Resources assumes no obligation to update information in this presentation or that may be made from time to time by Randgold Resources or on its behalf. CAUTIONARY NOTE TO U.S INVESTORS: The SEC permits companies, in their filings with the SEC, to disclose only proven and probable ore reserves. We use certain terms in this presentation, such as “resources”, that the SEC does not recognise and strictly prohibits us from including in our filings with the SEC. Investors are cautioned not to assume that all or any part of our resources will ever be converted into reserves which qualify as ‘proven and probable reserves’ for the purposes of the SEC’s industry guide number 7.