Directors’ Report extensive taxation and accounting experience in the corporate and mining sector.  Your directors submit the report of Resolute Mining Limited for the year ended 30 June 2004. Mr Price is the Chairman of the Audit Committee. Company Secretary Directors Greg William Fitzgerald The names and details of the directors of the Company in office during the financial year and until the date of this report are as follows. Directors were in office for this entire period unless otherwise stated. Names, qualifications, experience and special responsibilities B. Juris, LLB (Hons), B.Com., LLM Mr Peter Huston was appointed to the Board as Chairman in 2001 and has been a director of Resolute Limited since 2000. After gaining admission in Western Australia as a Barrister and Solicitor, Mr Huston initially practised in the area of Corporate and Revenue Law. Subsequently, he moved into the area of Public Listings, Reconstructions, Equity Raisings, Mergers and Acquisitions and advised on a number of major Public Company Floats, Takeovers and Reconstructions. Mr Huston is admitted to appear before the Supreme Court, Federal Court and High Court of Australia. Mr Huston was a partner of the international law firm now known as “Deacons” until 1993 when he retired to establish the boutique Investment Bank and Corporate Advisory firm known as “Troika Securities Limited”.  Mr Huston is a member of the Audit Committee and the Remuneration and Nomination Committee. As at the date of this report, the interests of the directors in the shares and options of the Company and related bodies corporate were: Interests in the shares and options of the Company and related bodies corporate Mr Fitzgerald is a member of the Financial Risk Management Committee. Mr Fitzgerald is a Chartered Accountant with over 15 years of resources related financial experience and has extensive commercial experience in managing finance and administrative matters for listed companies. Mr Fitzgerald is the General Manager – Finance & Administration and has been Resolute’s Company Secretary since 1996. Prior to his involvement with the Company, Mr Fitzgerald worked with an international accounting firm in Australia. C.A. B.Bus Peter Ernest Huston (Non-Executive Chairman) 30 Mr Peter Sullivan was appointed Chief Executive Officer of the Company in 2001 and has been involved with the Resolute group since 1999. Mr Sullivan is an engineer and has been involved in the development of resource companies and projects for approximately 20 years. Mr Sullivan has four years experience in corporate finance with an investment bank and two years in a corporate development role with an Australian resource group. Mr Sullivan has considerable experience in the management and strategic development of resource companies.  Mr Sullivan is a member of the Environment and Community Development Committee, the Safety, Security and Occupational Health Committee and the Financial Risk Management Committee. Resolute Mining Limited (“RML” or the “consolidated entity”) is a Company limited by shares that is incorporated and domiciled in Australia. Corporate Information Nature of Operations and Principal Activities The principal activities of entities within the consolidated entity during the year were: Mr Tom Ford was appointed to the Board in 2001. Mr Ford is an investment banker and financial consultant with over 30 years experience in the finance industry. He retired as an executive director of a successful and well regarded Australian investment bank in 1991 and now fulfils a number of non-executive director roles. He is Chairman of RESIMAC Limited and a non-executive director of Amalgamated Holdings Limited and Australian Pipeline Trust. Consolidated entity profit from ordinary activities after tax and outside equity interests for the financial year was $31,895,061 (2003: $15,281,068). Mr Ford is a member of the Audit Committee and the Remuneration and Nomination Committee. Mr Bill Price is a non-executive director of Resolute and was appointed to the Board on 26 November 2003. Mr Price is a Chartered Accountant with over 35 years experience in the accounting profession. Mr Price has The consolidated entity employed 546 employees as at 30 June 2004 (2003: 390). Employees Dividends Results Thomas Cummings Ford (Non-Executive Director) There has been no significant changes in the nature of those activities during the year. - gold mining; and - prospecting and exploration for minerals. Henry Thomas Stuart (Bill) Price (Non-Executive Director) B.Com, FCA No dividend has been declared. RESOLUTE MINING LIMITED 2004 ANNUAL REPORT FAICD B.E., MBA Peter Ross Sullivan (Chief Executive Officer) Resolute Mining Limited Ordinary Shares Options Over  Ordinary Shares P.Huston 800 266 P. Sullivan 372,750 2,449,250 T.Ford 3,000 - H.Price - - 376,550 2,449,516