LIONTOWN LIMITED — Capital/Financing Update 2021

Aug 1, 2021

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2 August 2021
ISSUED CAPITAL
Ordinary Shares: 814M
DIRECTORS
NON-EXECUTIVE CHAIRMAN:
Bob Vassie
MANAGING DIRECTOR:
Mark Zeptner
NON-EXECUTIVE DIRECTORS:
Michael Bohm
David Southam
Natalia Streltsova
COMPANY SECRETARY:
Richard Jones
www.rameliusresources.com.au
ramelius@rameliusresources.com.au
RAMELIUS RESOURCES LIMITED
Registered Office
Level 1, 130 Royal Street
East Perth WA 6004
Tel +61 8 9202 1127
PO Box 6070
East Perth, WA 6892
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2 August 2021

Sale of Kathleen Valley Lithium Royalty for A$30.25 million

HIGHLIGHTS

• Binding agreement executed with Liontown Resources Ltd (( ASX:LTR) “ LTR” ) for the termination of the Lithium Royalty (the “ Royalty ”) owned by Ramelius over the majority of LTR’s Kathleen Valley Lithium Project

• Consideration of A$30.25M payable in cash upon settlement, which is expected within 3 business days

• The Kathleen Valley Lithium Project is one of the worlds premier undeveloped Lithium deposits

• The divestment of this non-core asset provides additional liquidity for Ramelius as it seeks to grow its gold asset portfolio in WA

• Proforma Cash and Gold balance as at 30 June 2021 of A$264.0M*

Ramelius Resources Limited ( ASX:RMS ) (“ Ramelius ”) is pleased to announce that after a competitive process it has entered into a binding agreement with a subsidiary of LTR to terminate the Lithium Royalty Deed that it owns over a large proportion of the Kathleen Valley Lithium Project.

The Royalty was granted to Ramelius when it disposed of the Kathleen Valley Lithium – Tantalum project to LTR in 2016. The Royalty comprised both a Production component of A$0.50/tonne of ore mined and a Sales component of 1% of the Gross Sales of the ore.

Managing Director, Mark Zeptner, today said:

“When we divested the Lithium project to Liontown in 2016 we did so by accepting a royalty in a commodity that, at the time, was only just beginning to attract market attention. Liontown have done a sensational job in developing the Kathleen Valley Project to the long life, world class scale that it is today. We wish them every success in bringing the project through to development over the coming years.

We are very fortunate to have been able to benefit from the battery minerals thematic and having considered this asset as non-core for some time, we felt that now was the time to exit and use the funds to support our gold growth story.”

This ASX announcement was authorised for release by the Board of Directors. For further information contact:

Investor enquiries:

Mark Zeptner

Tim Manners

Managing Director Chief Financial Officer Ramelius Resources Ltd Ramelius Resources Ltd Ph: +61 8 9202 1127 Ph: +61 8 9202 1127

• The Proforma Cash and Gold balance is the unaudited cash and gold balance of A$234M released to the ASX by Ramelius in its June Quarterly Report on 29 July 2021 plus the headline cash proceeds for the sale of the Lithium Royalty.

ABOUT RAMELIUS

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Figure 1: Ramelius’ Operations & Development Project Locations

Ramelius owns and operates the Mt Magnet, Edna May, Vivien, Marda, Tampia and Penny gold mines, all of which are located in Western Australia (refer Figure 1). Ore from the high-grade Vivien underground mine, located near Leinster, is hauled to the Mt Magnet processing plant where it is blended with ore from both underground and open pit sources at Mt Magnet. The Penny project is currently under development with first ore in late FY22.

The Edna May operation is currently processing high grade underground ore, low grade stockpiles, as well as ore from the adjacent Greenfinch open pit and the satellite Marda open pit mines. Ore feed from the Tampia open pit mine commenced in early FY22.

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