exploration overview Australia Ravenswood open pit), the Buck Reef West underground mine and potentially the Mt Wright deposit. Historically Sunset, Grant and Rob Roy, a series of narrow, high grade (+30g/t Au), flat to moderate dipping quartz veins were exploited.  The Ravenswood deposits represent four styles of mineralisation. Ravenswood is located approximately 125km south-west of Townsville and 80km east of Charters Towers in  north-east Queensland. Resolute assumed management  control of the Ravenswood mine on 1 March 2004.  The project encompasses a series of exploration permits and mining leases covering an area of approximately 700km 2 . These extend from Mingela in the north to south of Ravenswood, a distance of more than 50km. With the acquisition of the Ravenswood mine a significant land package with a long history for gold and base metals exploration was acquired. Reappraisal of this land package and reprioritisation of exploration targets is in progress. The Ravenswood mine comprises mining operations on the Sarsfield open pit (which includes part of the Nolan’s The vein hosted gold mineralisation at Ravenswood occurs within the upper portion of the 410 million year old Jessops Creek Tonalite. The Tonalite is a heterogeneous body and a number of unnamed diorite bodies and other mafic differentiates occur within the unit. • Sarsfield and Nolan’s represent a network of flatly dipping sulphide- quartz veins within the host tonalite • Sunset vein types are a series of high grade (+30g/t Au), moderately to flat dipping quartz-sulphide veins • Buck Reef West is a sulphidic fault breccia deposit, containing pyrrhotite or pyrite, and post dates the Sunset vein system • Mt Wright is a rhyolite breccia  Geology and Mineralisation  Ravenswood Ravenswood Mine Area QUEENSLAND Charters Towers Mingela Mt Wright Townsville 25km Mining Leases Exploration Permits FIGURE 6 Ravenswood location 18 RESOLUTE MINING LIMITED 2004 ANNUAL REPORT