Annual Resource and Reserve Declaration

at 31 December

Mineral Resources

Mine/Project Category Tonnes (Mt) Grade (g/t) Gold (Moz) Attributable Gold (Moz)
    2017 2016 2017 2016 2017 2016 2017 2016
Kibali               45% 45%
  Measured 22 17 4.1 2.7 3.0 1.5 1.3 0.67
  Indicated 104 118 3.1 3.2 10 12 4.6 5.5
Subtotal Measured and indicated 126 135 3.3 3.2 13 14 5.9 6.2
  Inferred 44 46 2.3 2.3 3.3 3.4 1.5 1.5
Loulo               80% 80%
  Measured 20 23 4.5 4.8 2.9 3.6 2.3 2.9
  Indicated 33 30 4.7 4.5 5.0 4.3 4.0 3.4
Subtotal Measured and indicated 53 53 4.6 4.6 7.9 7.9 6.3 6.3
  Inferred 12 15 3.9 3.8 1.6 1.9 1.3 1.5
Gounkoto               80% 80%
  Measured 7.1 8.0 3.7 3.7 0.86 1.0 0.69 0.76
  Indicated 21 21 4.3 4.3 2.9 3.0 2.3 2.4
Subtotal Measured and indicated 28 29 4.1 4.2 3.7 3.9 3.0 3.1
  Inferred 4.0 4.2 3.1 3.1 0.40 0.42 0.32 0.33
Morila               40% 40%
  Measured 16 0.51 0.26 0.10
  Indicated 0.25 22 1.6 0.59 0.013 0.41 0.0052 0.17
Subtotal Measured and indicated 16 22 0.53 0.59 0.27 0.41 0.11 0.17
  Inferred 0.94 0.94 0.45 0.45 0.014 0.014 0.0055 0.0055
Tongon               89.7% 89%
  Measured 7.9 8.0 2.3 2.4 0.59 0.62 0.53 0.56
  Indicated 16 15 2.6 2.6 1.3 1.3 1.2 1.1
Subtotal Measured and indicated 24 23 2.5 2.5 1.9 1.9 1.7 1.7
  Inferred 9.2 13 2.7 2.8 0.80 1.1 0.72 1.0
Massawa               83.25% 83%
  Measured 0.54 5.5 0.10 0.079
  Indicated 24 19 3.8 4.0 2.9 2.5 2.4 2.0
Subtotal Measured and indicated 24 20 3.8 4.0 2.9 2.6 2.4 2.1
  Inferred 12 21 2.6 2.7 0.99 1.8 0.82 1.5
Total Mineral Resources Measured and indicated 271 282 3.4 3.4 30 30 20 20
  Inferred 83 100 2.7 2.7 7.1 8.6 4.6 5.9

Ore Reserves

Mine/Project Category Tonnes (Mt) Grade (g/t) Gold (Moz) Attributable Gold (Moz)
    2017 2016 2017 2016 2017 2016 2017 2016
Kibali               45% 45%
  Proved 19 4.3 4.1 1.9 2.5 0.26 1.1 0.12
  Probable 47 66 4.1 4.2 6.2 8.9 2.8 4.0
Subtotal Proved and probable 66 71 4.1 4.0 8.7 9.2 3.9 4.1
Loulo               80% 80%
  Proved 12 14 4.2 4.7 1.6 2.1 1.3 1.7
  Probable 24 23 4.7 4.3 3.6 3.1 2.9 2.5
Subtotal Proved and probable 36 37 4.5 4.5 5.2 5.3 4.1 4.2
Gounkoto               80% 80%
  Proved 6.1 6.8 3.9 3.9 0.78 0.86 0.62 0.69
  Probable 14 15 4.9 4.9 2.2 2.3 1.7 1.8
Subtotal Proved and probable 20 21 4.6 4.6 3.0 3.1 2.4 2.5
Morila               40% 40%
  Proved
  Probable 11 15 0.56 0.55 0.19 0.27 0.077 0.11
Subtotal Proved and probable 11 15 0.56 0.55 0.19 0.27 0.077 0.11
Tongon               89.7% 89%
  Proved 7.0 7.5 2.2 2.2 0.49 0.53 0.44 0.48
  Probable 9.3 12 2.5 2.5 0.74 0.95 0.66 0.85
Subtotal Proved and probable 16 19 2.3 2.4 1.2 1.5 1.1 1.3
Massawa               83.25% 83%
  Proved
  Probable 23 19 3.6 4.3 2.7 2.6 2.2 2.2
Subtotal Proved and probable 23 19 3.6 4.3 2.7 2.6 2.2 2.2
Total Ore Reserves Proved and probable 172 182 3.8 3.7 21 22 14 14

Notes to the annual resource and reserve declaration

Randgold reports its mineral resources and mineral reserves in accordance with the JORC 2012 code and as such are reported to the second significant digit.
Reporting standards are equivalent to National Instrument 43-101
The reporting of mineral resources is based on a gold price of $1 500/oz. The reporting of ore reserves is also in accordance with Industry Guide 7. All mineral resource tabulations are reported inclusive of that material which is then modified to form ore reserves.
Reserve pit optimisations are carried out at a gold price of $1 000/oz for all pits, except for KCD pit in Kibali which is carried out at a gold price of $1 100/oz.
Underground ore reserves are also based on a gold price of $1 000/oz. Dilution and ore loss are incorporated into the calculation of reserves.
Cautionary note to US investors: The United States Securities and Exchange Commission (the ‘SEC’) permits mining companies, in their filings with the SEC, to disclose only proved and probable ore reserves.  Randgold uses certain terms in this annual report such as ‘resources’, that the SEC does not recognise and strictly prohibits the company from including in its filings with the SEC.
Investors are cautioned not to assume that all or any parts of the company’s resources will ever be converted into reserves which qualify as ‘proved and probable reserves’ for the purposes of the SEC’s Industry Guide number 7.
See glossary of terms on website at www.randgoldresources.com.