RNS Number:9634R
Randgold Resources Ld
12 November 2003

RANDGOLD RESOURCES EXPANDS AFRICAN FOOTPRINT AS IT POSTS ANOTHER STRONG QUARTER

London, 12 November 2003 - Randgold Resources said today it was close to a
development decision on its Loulo gold project in Mali and was continuing to
expand and entrench its presence in the major gold belts of Africa.

At the same time, the London and Nasdaq listed gold miner reported a net profit
of US$13.7 million for the September quarter (US$47.3 million for the year to
date).  The sustained profit stream was reflected in the further strengthening
of the balance sheet, where shareholders' equity again improved and cash or cash
equivalents grew to US$108 million.

Production at its Morila joint venture in Mali dropped to just under 200 000
ounces for the quarter, partly because the higher-grade areas in the pit were
inaccessible due to heavy rain.  The Company said, however, that production for
the full year was still in line with its forecast of 800 000+ ounces, but that
costs were likely to be marginally higher than expected because of the impact on
transport expenses of the unrest in the neighbouring Cote d'Ivoire.  In the
meantime, the capital expansion programme designed to partially offset the
forecast grade drop-off by increasing production is on track for commissioning
by the year-end.

Elsewhere in Mali, work is continuing on the final process and infrastructure
design for the Loulo project, synergies which could optimise start-up and
operating costs are being reviewed, and discussions with the government about
fiscal and regional infrastructure issues are making progress.  The Randgold
Resources board is due to make a final decision about the development of a mine
at Loulo at the year-end board meeting.

The acquisition of new ground in Mali, Senegal, Tanzania and Burkina Faso has
expanded the Company's African footprint, and its portfolio of targets and
projects now covers more than 8 000 km2.  Within this portfolio, aggressive
programmes designed to discover new ounces and convert existing resources into
reserves will kick off at the end of the rainy season.

An exploration programme to expand the reserve base and generate new targets is
planned for the Loulo project.  The Company's presence in the Loulo region has
been extended through an agreement with the artisanal cooperative at Sitakili,
an area previously untested by modern geological methods.

In the Morila region, exploration work continues to search for new mineralised
systems within the mine lease area as well as the Company's 2 500 km2 holding
around the lease.  On the lease, two significant mineralisation zones have been
highlighted, and around the lease, target delineation is in progress at Ntiola
and 12 other prospects within a 25 km radius of the mine.

In Senegal, the Company is seeking to expand its current holding of more than 1
200 km2 within three permits on the Sabodala Belt.  Meanwhile, encouraging
results are being returned from the Tomboronkoto permit.

The Company has now secured eight prospecting licences in the Lake Victoria
Goldfields of Tanzania.  Four of them are in an area covered by its
collaborative venture with the government.  A further seven are pending.

Chief executive Dr Mark Bristow said that while the Ashanti board's decision not
to accept Randgold Resources' merger proposal had been disappointing, Randgold
Resources had a wide range of other attractive growth opportunities, organic as
well as external, on which it was now focusing.

"The absorption of Ashanti by AngloGold will leave Randgold Resources as the
only gold miner with a big footprint across Africa which is independent of the
major producers.  We intend to leverage this position - which is bolstered by
our strong cash flows, robust balance sheet, FTSE 250 ranking, access to global
capital markets and successful track record in Africa - in order to capitalise
fully on these opportunities," he said.

Bristow noted that a number of due diligence reviews of new exploration and
mining opportunities were already in progress.

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For further information call:
(CEO) Mark Bristow on +44 779 775 2288
(CFO) Roger Williams on +44 779 771 9660

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Issued on behalf of Randgold Resources Limited  by du Plessis Associates.
dPA contact Kathy du Plessis - Tel: +27 11 728 4701,
mobile:+27 (0) 83 266 5847 or e-mail randgoldresources@dpapr.com
website: www.randgoldresources.com

DISCLAIMER: Statements made in this document with respect to Randgold Resources'
current plans, estimates, strategies and beliefs and other statements that are
not historical facts are forward-looking statements about the future performance
of Randgold Resources.  These statements are based on management's assumptions
and beliefs in light of the information currently available to it.  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, estimates of reserves and mine life and liabilities arising from the
closure of Syama.  Randgold Resources assumes no obligation to update
information in this release.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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