RAMELIUS RESOURCES LIMITED — AGM Information 2004

Nov 25, 2004

Ramelius Resources Limited

RAMELIU

ACN 001 717 540

140 Greenhill Road, Unley SA 5061 GPO Box 1373, Adelaide SA 5001 DX 52003, Unley Telephone (08) 8373 6473 or (08) 8373 5588 Facsimile (08) 8373 5917

ASX RELEASE

For Immediate Release Friday, 26 November 2004

General Manager The Company Announcements Office Australian Stock Exchange Limited PO Box H224 Australia Square Sydney NSW 1215

Dear Sir/Madam,

RAMELIUS RESOURCES LIMITED

PRESENTATION BY MANAGING DIRECTOR

MR JOE HOULDSWORTH

2004 AGM

Please refer to the attached PowerPoint presentation.

Yours faithfully

Dom Francese Company Secretary

Good Morning Ladies and Gentlemen:

My presentation today will update you on the Company's operations to date.

This cover slide depicts "The Road to Wattle Dam" one of our exciting projects. The significance of the Wattle Blossom is that we have discovered another "Golden Blossom" sticking out of the ground near Wattle Dam- Gold! Firstly, I would like to remind you of the Company's Capital Structure.

oan la Wart de Br (As at 31 st August 2004) ISSUED CAPITAL		RAMELI
59,016,275 fully paid ordinary shares 23,185,750 options (18.687c) Expire 31 st Dec 07
QUOTED SECURITES
44,739,123 fully paid ordinary shares 12,897,175 options (18,687c) Expire 31 st Dec 07
TOP TEN SHAREHOLDERS		И.
Brach Patroleum Ltd	13,400,002	2771
Mandurang Pty Ltd	3 148 600	7.74
Joseph Fred Houldsworth J.P. Mongan Nommees Australia Ltd.	2 620.000 2.000.000	4.44 3.39
Kildran N. & Kurana PA	7000000	3.39
Pit Canital Partners Ltd	1.618.456	3.08
Autolus Resources Bitz	ANIVAI	275
Fat Corners Minerals PAC	4 000 000	8268
Mr John Roperts Mr ninsh & Mr Meratur Sarah Prophes (The Chatter) Septe Fund)	1.000.000	1.62
Clovido All	ZM KO 29.322.935	93 49.77

This slide indicates the Company's issued capital and the top ten shareholders at 31 August 2004.

In respect of the Corporate Structure and Company Management, the Board is comprised of the three Directors before you today. The management is comprised of Mr. Dom Francese our Company Secretary, Mr Gordon Dunbar our Consultant Geologist who oversees the exploration effort, Mr. Alan Rudd our Goldfields based Exploration Manager and Ms. Yvonne Weissgerber, our Tenement and Land Manager.

With the exception of Mr. Dom Francese, who is Adelaide based, all other management is Western Australian based.

The majority of the Company's current projects listed here are gold and nickel projects located in the Eastern Goldfields of W.A. The main exception being the Ingebong Group Copper/Zinc Projects located in the Earaheedy Basin in central W.A.

I will start with our Flagship Project, the Spargoville Regional Project Area which embraces four sub projects being Wattle Dam Gold; Hilditch Nickel and Gold; North Widgiemooltha Gold Rights and the Logans/Larkinville gold project.

Collectively these projects cover over 280 square kilometres with a strike length of over 30 kilometres in one of the most prospective gold and nickel belts in Australia.

This image shows the gold in soil geochemistry over this area. The gold anomalies highlight the Spargos Reward Shear from the Spargos Reward mine in the north, all the way south past Larkinville to the intersection of the Kunanalling Shear.

One may note the changes in direction of the Spargos Reward Shear and the accompanying gold anomalism at these points. Changes in strike along with jogs and offsets are favoured by many geologists for the location of gold deposits.

With the completion of our geochemical exploration over our Spargoville area, we now have a significant number of targets.

This image highlights the gold geochemical anomalism in the vicinity of our 7800N gold resource and also the two advanced prospects immediately north and south of this resource at 8500N and 7000N respectively. Drilling by the previous explorers at these locations returned potentially economic intersections that were never followed up.

This air magnetics image of the 7800N Project shows a small part of the northsouth trending ultramafic belt. Note the areas of complexity and the destruction of the magnetic component in the otherwise very magnetic rocks.

These areas reflect firstly the 7800N resource and secondly, the 7000N and 8500N targets.

One can also see the wide spacing of the earlier lines of drill holes between which one could fit the current resource at 7800N.

This 3D image of the 7800N resource shows that the mineralisation occurs from the surface, particularly over the high grade eastern zone.

Our initial mining studies indicate a favourable optimisation based mainly on this zone. It is expected to provide an economic return to the Company in the near future.

Metallurgical studies show the free-milling nature of the ore, the significant gravity gold component and the potential recoveries. We know from our drilling, the free digging nature of the ground which should translate into lower mining costs.

Due to the preliminary nature of the optimisation studies I am reluctant to place any hard monetary figures to this optimisation other than to say that I am pleased with it.

Moving on to the Hilditch Nickel Project which is located within our Spargoville Regional Area, note the regional strike and location of nickel mines within the belt.