RESOLUTE TO SELL BIBIANI GOLDMINE TO ASANTE GOLD FOR $US90M

Resolute announced it has entered an agreement to sell its interest in the Bibiani Gold Mine in Ghana to Asante Gold Corporation. The deal includes a cash deposit of $US30m already received as a deposit, followed by a further cash payment of $US30m on or before six months from completion and a further $US30m on or before 12 months of completion. Resolute says it has received the Ghanaian Government approval for the sale.

Resolute has already defined a Gold Resource of 2.5m ounces at the Bibiani Gold Mine land said that Asante has recognised the potential to substantially increase the 2.5m ounce resource with additional exploration and drilling.