RAMELIUS RESOURCES LIMITED — AGM Information 2005

Nov 17, 2005

Ramelius Resources Limited

ACN 001 717 540

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

ASX RELEASE

For Immediate Release Friday, 18 November 2005

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

Dear Sir/Madam,

RAMELIUS RESOURCES LIMITED

2005 ANNUAL GENERAL MEETING

MANAGING DIRECTOR'S PRESENTATION

Good morning Ladies and Gentlemen,

The past year has proved to be a very busy and important time for the Company with significant progress made in advancing the Wattle Dam Gold Project towards production and a cash flow position.

The following statistics give an indication of the level of activity undertaken by the Company during the 2005 financial year.

13 separate drill programs in 12 months comprised of:

• 6,495 metres of Reverse Circulation (RC) drilling for 76 holes.
• 5,644 metres of Aircore (A/C) drilling for 162 holes.
• 4, 695 metres of Rotary Air Blast (RAB) drilling for 114 holes.

Additionally Ramelius also undertook:

• 164 Auger sample holes.
• 487 Soil Samples.
• 223 Gossan Samples.

In respect of the proposed development of the Wattle Dam 7800N resource, the Company carried out:

• Metallurgical Test work.
• Optimisation Studies.
• Mining Studies.
• Environmental Studies.
• Statutory Approval Applications.

This has been achieved with a small, but highly experienced, cost effective and successful exploration team.

The exploration successes over the past year have seen Ramelius develop its focus on two distinct projects for two different commodities, gold and nickel.

At the Wattle Dam Gold Project, a modest but highly minable gold resource has been delineated and as you are now aware its development is expected to commence shortly.

The Wattle dam 7800N prospect hosts a resource of 180,000 tonnes at 3.6 g/t gold (cut) [for 21,000 ounces of gold] which includes the Eastern High Grade Zone of 76,000 tonnes at 5.9 g/t gold (cut) [for 14,400 ounces of gold].

The resource's shallow spectacularly high grades are expected to significantly enhance the economic returns from the Wattle Dam development.

At the Hilditch Nickel Project, massive, disseminated and stringer nickel sulphides have been intersected below nickel sulphide gossans in the north-eastern section of the project area, further confirming the fertility of this ultramafic belt.

Both of these projects are located within the Company's Spargoville Regional Project Area, a substantial regional position and an area that holds considerable promise.

I will now take you through my presentation on the Company's strategy and exploration projects.

RAMELIUS RESOURCES LIMITÉD

Annual General Meeting 2005

COMPANY STRATEGY

EMNING & EXPLORATION

Fo realise the potential of the highly prospective, but as yet only lightly explored Spargoville Belt near Coolgardie.

A major tenement holding in the Belt, covering approximately 280 km2 along more than 30 km strike length, on trend with recent gold and nickel discoveries.

Fo use revenues from shallow, high grade gold discoveries, such as Wattle Dam, to accelerate exploration.

SPARCOVILLE BETORJECTIVES

• Ramelius has achieved initial success in the Belt with
  • Soliscovery of shallow, very high grade gold at Wattle Dam In the suiphide mineralisation at Hilditch
• Low risk, high grade open cut mining at Wattle Dam is to commence shortly
  • supported by the placement to a major Canadian institution itself a vote of confidence in the Company
  • Approximately 25,000 ozs of gold resources presently identified
  • Indications that the resource may continue at depth.
• E Accelerated exploration for new shallow gold resources and nickel at Hilditch will continue during 2006

MANNAGE MANDELLAND

• DIN GIORS BOB KENNEDY (CHAIRMAN) JOE HOULDSWORTH (MANAGING DIRECTOR) REG NELSON (NON EXECUTIVE DIRECTOR) COMPANY MANAGEMENT & CONTRACTORS DOM FRANCESE (CFO/COMPANY SECRETARY) GORDON DUNBAR (CONSULTING GEOLOGIST) ALAN RUDD (GOLDFIELDS EXPLORATION MANAGER) MATTHEW SVENSSON (PROJECT GEOLOGIST) YVONNE WEISSGERBER (TENEMENT MANAGER) $\textcircled{c}$ $\textcircled{c}$ $\textcircled{c}$ ADELAIDE - ADMINISTRATION OFFICE
  • OPERATIONS OFFICE DE T

GAPITAL STRUGIURE (As at 19 September 2005)

ISSUED CAPITAL

67,687,941 fully paid ordinary shares 29,014,083 options * (18.687c) Expire 31 Dec 07

* Includes options yet to be issued to Sprott Asset Management

TOP TEN SHAREHOLDERS

Beach Petroleum Limited	13,400,002
ANZ Nominees Limited*	4,945,984
Bank of New York Nominees Limited
(Bank of NY Global Cust a/c) *	3,784,000
Mandurang Pty Ltd	3,148,600
Joseph Fred Houldsworth	2,620,000
Aurelius Resources Pty Ltd	1,627,727
HFT Nominees Pty Ltd (HFT Super Fund a/c)	1,000,000
Dovido Pty Ltd	759,151
Mr David Ian Kerr, Mrs Cheryl Dorothea Kerr	536 385
REC Global Services Australia Nominees Pty Ltd	500,000
	32.321.849

Edjudina X

Kalgoorlie-Boulder X Bulong

C Kanibalda IHilditch JWattle Dam North Widgie

"FLAGSHP"

SPARGOVILLE REGIONAL PROJECT AREA

• E Highly Prospective Mineralised Corridor
• $\approx 280$ km2 in area:
• 30 kms strike length of gold belt:
• Example State Supersyte State State State State State State State State State State State State State State State State State State State State State State State State State State State State State State State State State
• 1. Wattle Dam gold project
• 1. Hilditch Nickel project
• 1. North Widgiemooltha gold rights
• 1. Logans/Larkinville gold project

SPARCOVIER REGIONAL PROJECT AREA

7800N resource of 180,000 tonnes @ 3.6/t gold for approximately 21,100 ounces. Production imminent. Advanced exploration programs on additional target areas.

1. HILDITCH NICKEL PROJECT

sulphides intersected

1. NORTH WIDGIEMOOLTHA GOLD RIGHTS

Anomalous gold in bed-rock over 10 kms strike length.

1. LOGANS/LARKINVILLE COLD PROJECT

Hosts the prospective Kunanalling shear

1. WATTLE DAM GOLD PROJECT

Massive, disseminated and stringer nickel

WATHEDAW7800NDEVELOPMENTSTUDIES NETA EUROOALITEANORK Free Milling, High Recoveries, Low Reagent Usage. OPERATING COSTS Cpen Cut Mining, High Grades from Surface, Low Risk Operation. B. Toll Treatment - Mainly Free Digging - Robust Return OPTIMISATION SUMMARY

* using 60km Ore Haulage, $26/tonne Ore Milling, 96% Mill recovery

GOLD	MINING RESERVES		OUNCES	CASH COST	OPERATING	OPERATING
PRIOE	TONNAGE	GRADE	RECOVERED	per OUNCE	PROFIT	PROFIT @$600/oz
($log)	(O)	(Q/f)	(OZ)	$(%)$	$\left( 0\right)$	$\langle 6 \rangle$
560	66,139	5.88	12,012	837	2,680,554	3,161,03
600	69,979	5.69	12,289	344	3, 143, 922	3, 143, 92
640	73,210	5.57	12,597	353	3,612,842	3,108,97

WATHE DAW 7800N PH DESIGN

$\blacktriangleright$ -4/5 months to mine

• $\triangleright$ -2/3 months to mill

PROJECT

HIDHCH NGK # PROJECT

Exalong strike from various nickel mines and resources.

E Recent intercepts of massive, disseminated and stringer nickel sulphides confirm fertility of Hilditch.

RGANT DRUANG AT HIDITGH NORTH

Drill Hole HRC025 -2m @ 2.4% Ni & 0.3% Cu from 73m 1m @ 1.3% Ni & 0.1% Cu from 93m

Drill Hole HRC041-2m @ 1.2% Ni & 0.1% Cu from 74m

Drill Hole HRC052-(Gossan up dip of HRC041)

5m @ 1.6% Ni & 0.4% Cu from 25m

HIDI KOHANO RAHAKI (OKANA PROS) 2009

Hilditch North Nickel Prospect Schematic Geological Section Looking North

Studies enable differentiation between remobilised and a prospective

OTHER REGIONAL PROJECTS

ELACK GATH GOLD

EReassessand Reightimise in Ight of current gold price

OUTLOOK

• WATTLE DAM (GOLD)
• COMMENCE MINING OPERATIONS
• WATTLE DAM RESOURCE HAS EXCEPTIONAL POTENTIAL FOR GRADE OVERCALL
• CASHFLOWS FROM MINING TO FUND AGGRESSIVE EXPLORATION PROGRAM
• SPARGOVILLE TENEMENTS HAVE THE POTENTIAL TO YIELD A MAJOR GOLD DEPOSIT.
• OTHER ACTIVITIES
• FOCUS ON LARGER GOLD TARGETS WITHIN THE SPARGOVILLE AREA
• RO AND DIAMOND DRILLING DOWN PLUNGE OF NICKEL SULPHIDE INTERS CHIONS AT HEILDER
• REASSESS THE ECONOMICS OF THE BLACK CAT COLD RESOURCE

Ladies and Gentlemen, that completes the presentation. The forthcoming year should see a cash flow generated from the development of Wattle Dam, and a renewed vigour in exploration at the Hilditch Nickel Project and the many gold targets yet to be tested throughout our Spargoville Regional Project Area.

In closing I would like to thank the Company's Staff, Consultants and Contractors for their tremendous efforts during the past year. In particular, I thank the Company Secretary Dom Francese, and the Board for their support and guidance.

Thank You.