RAMELIUS RESOURCES LIMITED

2014 ANNUAL GENERAL MEETING

CHAIRMAN’S ADDRESS

Ladies and Gentlemen, welcome to the 12th Annual General Meeting of Ramelius Resources Limited.

Present with me today are my fellow directors, Mr Kevin Lines and Mr Mike Bohm, our Company Secretary Mr Dom Francese and also Mr Mark Zeptner, who in June 2014 was appointed as our new CEO.

2013/14 was a challenging year for Ramelius, a year in which the gold mining industry experienced continued market volatility and lower sentiment towards gold producers. Gold prices fluctuated between a high of approximately A$1,590 and a low of A$1,327; ultimately finishing the year at A$1,396. The gold industry saw some corporate consolidations and mine closures and many companies reported large impairments to the value of their assets. Ramelius was not immune from the difficult trading conditions booking a $59.8 million non-cash impairment to the carrying value of its assets, $12.6 million to write down inventory and reporting an after tax loss for the financial year of $85.5 million. Although this was a disappointing result, shareholders should note that we have undertaken some cost cutting measures during 2014 which, subject to any further significant deterioration in the gold price, should result in a much better year ahead for Ramelius.

In looking to the future, it is also worth reflecting on a number of positive achievements by your Company.

Despite lower gold prices and the associated difficult trading conditions, Ramelius was still able to continue its gold producing operations and realise an average gold price of A$1,404 per ounce for the financial year which generated a cash flow of $130 million from the sale of 92,829 ounces of gold. This compared to $134 million in the previous year from a lower quantity of 86,284 ounces of gold.

In the 2013/14 financial year Ramelius expended $9.5 million to complete the acquisition of the high grade Vivien gold project having earlier paid a deposit of $0.5 million. A significant amount of work has been undertaken on this project located near Leinster in Western Australia. A Bankable Feasibility Study was completed in May 2014 that envisages a total mining inventory of 451,000 tonnes at 7.6g/t for 109,000 ounces of gold[1] .

Importantly, at 30 June 2014 Ramelius still had cash at bank of $12.4 million and at 30 September 2014 this had been slightly increased to $12.7 million after outlaying $4.05 million to acquire the Kathleen Valley high grade gold project.

In August 2014 Ramelius closed out a $16 million gold pre-payment facility with Deutsche Bank by successfully completing the repayment of the facility amount in gold over 10 months.

During 2013/14 Ramelius achieved the development of two new open pit gold mines at Western Queen South and Coogee adding to gold production from the Galaxy gold mining operation at Mt Magnet. The amount of gold extracted from the high grade Coogee mine was approximately 30% more than forecast and represented a pleasing result.

I will shortly hand over to our CEO, Mr Mark Zeptner who will provide a more detailed presentation on the activities of Ramelius but before doing so, I would like to leave you with a longer term perspective of Ramelius and our strategy for taking your Company forward.

Ramelius has in the past decade evolved from being an explorer to a gold producer. The Company has successfully demonstrated its ability to develop gold deposits both as open pit and underground operations as was the case with our very successful Wattle Dam gold mine. More recently the Company progressed to become a multi-mine producer with mining operations at Mt Magnet, Western Queen South and Coogee. Although Mt Magnet has proven to be more challenging than originally expected, our focus for the current financial year at Mt Magnet is on the Saturn and Mars pits where mining is expected to yield higher ore grades at or near the base of these pits. All current indications are that Mt Magnet will this year prove to be profitable.

Ramelius also has two new high grade gold development projects in the pipeline, Vivien and Kathleen Valley. We have environmental approvals for the Vivien underground gold mine already in place and have recently selected PYBAR Mining Services as the preferred mining contractor. In addition, we are progressing the high grade Kathleen Valley gold project with a drilling program proposed before the end of 2014 and plan to undertake additional work so that we can be in a position to announce an initial Ore Reserve by March 2015 and have potential mining studies completed towards the middle of 2015.

Vivien and Kathleen Valley are both near term potential development projects that are expected to be lower cost profitable operations that will add to current gold production in the next few years.

Your directors will look for other opportunities that may become available in its efforts to add to these assets and grow your Company.

Ramelius will also continue its exploration activities in its quest to make another significant discovery as was the case with Wattle Dam a decade ago. In May this year we entered into an exciting farm-in and joint venture agreement with Tychean Resources Limited giving us the opportunity to earn an 85% interest in the Tanami gold project in the Northern Territory by exploration expenditure of $500,000 over 3 years. Although our minimum exploration commitment is only $100,000 within 2 years, this deal provides Ramelius with a unique opportunity to explore more than 1,700km[2] in a significant but under-explored gold province on tenements located within 100km of Newmont’s 4.5 million plus ounce Callie gold mine.

We also have exploration drilling programs planned for our Vivien Gem and Coogee Extensions projects in Western Australia as well as the Moonlight Creek project in Queensland.

Your directors believe there is real upside potential for Ramelius, particularly if the gold price improves and/or the Australian dollar depreciates against the US dollar, in other words we look forward to a downward movement in the exchange rate.

I take this opportunity to thank the Board, our CEO, Company Secretary and all the Ramelius team for their efforts during the past year.

I also thank all our shareholders for their continuing loyalty and support, especially those here today.

Ladies and gentlemen, thank you for your attention.

Bob Kennedy CHAIRMAN

1 For detailed information relating to Vivien Mining Inventory and Ore Reserve see ASX Release (RMS) 30 May 2014, ‘Vivien Gold Mine Feasibility Completed’.

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Ramelius Resources Limited ASX:RMS

AGM Presentation – October 2014

Forward Looking and Competent Persons Statements

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Forward Looking Statements

This presentation contains certain forward looking statements with respect to Ramelius’financial condition, results of operations, production targets and other matters that are subject to various risks and uncertainties. Actual results, performance or achievements could be significantly different from those expressed in or implied by those forward looking statements. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are beyond the control of Ramelius that may cause actual results to differ materially from those expressed in the forward looking statements contained herein. Ramelius Resources Limited gives no warranties in relation to the information and statements within this presentation.

Competent Persons Statement

The Information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Kevin Seymour (Exploration Results), Rob Hutchison (Mineral Resources) and Mark Zeptner (Ore Reserves), who are Competent Persons and Members of The Australasian Institute of Mining and Metallurgy. Kevin Seymour, Rob Hutchison and Mark Zeptner are full-time employees of the company. Kevin Seymour, Rob Hutchison and Mark Zeptner have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Kevin Seymour, Rob Hutchison and Mark Zeptner consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.

Production Targets

Production targets presented for Vivien and Kathleen Valley projects contain Inferred Resources. For details covering the resource and reserve classifications and proportions relating to the production targets refer to slide 26. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.

Ramelius Resources Limited • AGM Presentation - October 2014

Perception vs Reality?

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Perception	Reality (30 Jun 14 – 30 Sep 14)

Gold price has tanked	Gold price has only declined by 1.2% in A$ terms (A$1,400.21/oz - 30 Jun, A$1,383.98 – 30 Sep)
Mt Magnet is burning cash	AISC now below A$ gold price (A$1,391/oz – Sep Qtr, A$1,275/oz – Dec Qtr)
Ramelius is going broke	A$16.9M cash/gold on hand as at 30 Sep 14 which exceeds 30 Jun 14 cash position

Ramelius needs another capital raise to survive	Cash position healthy & operations cash flow positive
Ramelius cannot commence its Vivien & Kathleen Valley Projects	Kathleen Valley requires only ~A$2M and can be self funded whilst Vivien has multiple options

Market Cap accurately reflects Company value	Market Cap (A$23.4M) reflects cash/gold on hand (A$16.9M) and under-values Mt Magnet, Burbanks mill, Vivien and Kathleen Valley projects

Ramelius Resources Limited • AGM Presentation - October 2014

Perception vs Reality?

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Market Cap to Net Cash - Peer Comparison as at 30 June 2014 (A$M)

500 749 730 450 400 350 300 250 200 150 100 50 0 (50) (100) (150) (200) (250) (300)

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820 949

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Market Cap Cash Less Debt

Source: Company Releases * Translated to AUD using USD:AUD of 1 to 0.942

Ramelius Resources Limited • AGM Presentation - October 2014

Corporate Summary

Board & Management

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Robert Kennedy, Non Executive Chairman Mark Zeptner, Chief Executive Officer Kevin Lines, Non Executive Director

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Mike Bohm, Non Executive Director

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	Capital Structure(as at 30 Sep 14)
	Shares on Issue	468.8M
	Market Cap	A$23.4M
	Cash & Gold on hand	A$16.9M
	Corporate Debt	Nil
	Enterprise Value	A$6.5M
	6 Month Trading Range	A$0.05 - $0.12

	Significant Shareholders(as at	30 Sep 14)
	Sprott Asset Management	9.9%
	Board & Management	2.8%
	Dimensional Fund Advisors	1.8%

Ramelius Resources Limited • AGM Presentation - October 2014

Strategy

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1. Be profitable in a low gold price environment 2. Discover a high margin asset over next 2 years

3. Strong focus on capital management

AISC represents All-In Sustaining Costs as per the World Gold Council guidance

Ramelius Resources Limited • AGM Presentation - October 2014

What Makes Up Ramelius?

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Mt Magnet Gold Mine	Mt Magnet Gold Mine
Capacity	1.7Mtpa
Resource	1.9Moz
Reserve	326koz
Life	4 years
Capex	A$1.5Mpa
C1 Cost	A$1,280/oz
AISC	A$1,320/oz
UCF*	A$24M

Burbanks Treatment Plant
Capacity	180ktpa
C&M	Jan 2015
Options	Toll treatment
Available	and leasing

Mt Magnet Gold Mine			Kathleen Valley Project
Capacity 1.7Mtpa			Resource 130koz
Resource 1.9Moz			Reserve Jan 2015
Reserve 326koz			Life 1.5 years
Life 4 years			Capex A$1.7M
Capex A$1.5Mpa			C1 Cost / AISC A$940/oz
C1 Cost A$1,280/oz			UCF A$15M*
AISC A$1,320/oz
			Vivien Gold Project
UCF A$24M*
			Resource 184koz

			Reserve 101koz
			Life 3 years
Burbanks Treatment Plant
			Capex A$16.3M
Capacity 180ktpa
			C1 Cost A$766/oz
C&M Jan 2015
			AISC A$990/oz
Options Available Toll treatment and leasing
			UCF A$26.7M*

*Undiscounted Cash Flow @ A$1,400/oz

Ramelius Resources Limited • AGM Presentation - October 2014

Operations - Mt Magnet Gold Mine

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Focus on Saturn and Mars open pits in FY15
Saturn pit

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Mars pit

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Quartz sample with Au – Saturn open pitMars open pit blast

Ramelius Resources Limited • AGM Presentation - October 2014

Operations - Mt Magnet Gold Mine

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Mt Magnet Milled Tonnes & Grade

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800,000 2.00
WQS pit
700,000
1.75
600,000
1.50
500,000
400,000 1.25
300,000
1.00
200,000
0.75
100,000
0 0.50
Milled Tonnes (LHS) Head Grade (RHS)
Milled Tonnes (t) Head Grade (g/t)
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Mt Magnet Gold Production & Costs

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25,000 2,000
SAG mill
22,500 repairs Ball mill 1,800
motor
20,000 1,600
17,500 1,400
15,000 1,200
12,500 1,000
10,000 800
7,500 600
5,000 400
2,500 200
- -
Fine Gold Production (oz) - LHS C1 - Cash Cost (A$/oz) - RHS AISC (A$/oz) - RHS
Costs (A$/oz)
Gold Production (oz)
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Ramelius Resources Limited • AGM Presentation - October 2014

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Operations - Mt Magnet Gold Mine

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Checker Gold Mill – capacity of 1.7Mtpa, highly competitive $20/t operating cost
Pipeline of open pit & underground mines:

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Proposed to deliver Vivien / Kathleen Valley ore for treatment at Checker

Ramelius Resources Limited • AGM Presentation - October 2014

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Operations – Burbanks/Coogee

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Physicals	Coogee Budget June 2013	Coogee Actual August 2014	Relative Variance	Relative Variance
Total Volume	1,214,395 bcm	1,200,454 bcm	-1%	
Ore Tonnes	102,152 t	152,776 t	50%	
In Situ Grade	5.66 g/t	4.81 g/t	-15%	
Mill Recovery	95.0%	96.4%	2%	
Recovered Grade	5.38 g/t	4.69 g/t	-13%	
Recovered Ounces	17,654 oz	23,019 oz	30%	
Strip Ratio	32.0	19.2	-42%	

Financials	Coogee Budget June 2013	Coogee Actual August 2014	Relative Variance
Budgeted Gold Price	A$1,475/oz	A$1,401/oz	-5%	
Operating Unit Cost	A$950/oz	A$844/oz	-11%	
Total Unit Cost	A$1,085/oz	A$901/oz	-17%	
Total Cost	A$19.1M	A$20.7M	8%	
Revenue	A$25.2M	A$32.2M	28%	
Cash Flow	A$6.1M	A$11.5M	89%	

Coogee Open Pit

Ramelius Resources Limited • AGM Presentation - October 2014

Development - Vivien Project

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Office, workshop, go-line Magazine Ore Pad Dewatering Dam UG Power Wall cutback UG Portal Vivien Lode  Acquisition completed on 1st July 14  Permitting approvals received on 10th July 14  Project financials improved by recent tenders	Physicals May 2014 Oct 2014 Relative Variance
	Mine Life 3 years 3 years Unchanged
	Mineral Resource 184koz2 184koz2 Unchanged
	Mining Inventory 109koz3 109koz3 Unchanged
	Grade 7.6 g/t 7.6 g/t Unchanged
	Recovery 95.0% 95.0% Unchanged
	Recovered Ounces 104koz 104koz Unchanged

	Financials BFS May 2014 Tenders Oct 2014 Relative Variance
	Up Front Capital A$20.5M A$16.3M -20% 
	C1 Cash Cost A$800/oz A$766/oz -4% 
	Royalties A$120/oz A$120/oz Unchanged
	AISC A$1,000/oz A$990/oz -1% 
	Total Cost (incl Up Front) A$1,200/oz A$1,148/oz -4% 
	Cash Flow @ A$1,400/oz not published A$26.7M
	Cash Flow @ A$1,450/oz A$26M A$31.4M +21% 

Ramelius Resources Limited • AGM Presentation - October 2014

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Development - Vivien Project

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Ramelius Resources Limited • AGM Presentation - October 2014

Development - Vivien Project

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Vivien has one of the highest grade Ore Reserves in Australia

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Underground Gold Mines – Ore Reserves & Grade
2,500
Bubble Size = FY15 Production Guidance (oz)
2,000
SBM - Gwalia
1,500
1,000
TRY - Casposo
(Au Eq)
EVN - Cracow
MLX - Higginsville
EVN - Pajingo NST - EKJV
500 NST - Kanowna SLR - Mt Monger "
0 DRM - Andy Well
RSG - Ravenswood UML - Henty
RMS - Vivien
(incl. Mt Wright) ~ NST - Plutonic
KCN - Challenger SAR - Red October
(500)
1.00 2.00 3.00 4.00 5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00
Reserves ^ (koz)
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Reserve Grade ^ (g/t)

^ Reflects latest published Ore Reserve statement

Assumed 50.5koz (101koz evenly split over a two year period commencing FY15)
~ Pro-rata FY15 production guidance using FY14 actual production
“ Mt Monger operations include Wombola Dam. Ore Reserves based on JORC 2012 compliant Ore Reserves as at June 2014

Ramelius Resources Limited • AGM Presentation - October 2014

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Development - Kathleen Valley Project

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Acquisition completed 1[st] Sep 2014
ounces
Mineral Resource of 130,000[4]
Approvals processes commenced
Heritage Survey 22 Oct 2014
Infill drilling Nov 2014
Maiden Ore Reserve early 2015
Ready for development Jun 2015 Qtr
Low capital start-up requirements
Estimated AISC of A$940/oz

Ramelius Resources Limited • AGM Presentation - October 2014

**Production Targets[*]**

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 Assumes approval of both Vivien (Dec 2014) & Kathleen Valley (Mar 2015) gold projects

Combines with Mt Magnet to produce a 4 year production profile with increasing grade

RMS – Group Production Profile

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140,000
Mossbecker
Yellow Aster
120,000
&
Nils
Mossbecker
Desperandum
100,000
80,000
60,000
Saturn Percy, Water Tank
& Percy Hill
Morning Star
40,000
Mars & & &
Morning Star Water Tank Titan
20,000 Hill
0
FY2015 FY2016 FY2017 FY2018
Ounces
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Coogee
Kathleen 4
3
Vivien
1
Mt Magnet
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Vivien and Kathleen Valley production targets contain Inferred Resources. Refer slide 26 for further details.

Ramelius Resources Limited • AGM Presentation - October 2014

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Exploration - Projects

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Fraser Range (WA)
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Ramelius Resources Limited • AGM Presentation - October 2014

Exploration – Moonlight Creek (Qld)

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300m deep angled RC hole drilled into Intrusive Breccia Target
Reversely polarised magnetic anomaly = magnetic high feature
Anomalous disseminated sulphides (2% - 7%) incl pyrrhotite (magnetic) + pyrite +/chalcopyrite + arsenopyrite from 251m to end of hole within host rock sediments - distal to targeted intrusive body
Pervasive weak sericite alteration associated with the sulphides
Awaiting assay results

Ramelius Resources Limited • AGM Presentation - October 2014

Exploration – Coogee (WA)

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10km poorly tested strike north of Coogee open pit
Variable transported sand cover, masking underlying rock units
Prospective sheared felsic intrusives & volcaniclastics (associated with Coogee pit mineralisation & alluvial nugget gold patches further north)
Regional angled RAB drilling traverses completed Oct 2014
Awaiting assay results

Ramelius Resources Limited • AGM Presentation - October 2014

Exploration – Vivien Gem (WA)

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Encouraging shallow high grade intersections reported from RMS drilling:

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Historical drilling including:
Nil existing Resource
Currently drilling 6 x RC holes to test deeper plunge 200 - 300mbs

Ramelius Resources Limited • AGM Presentation - October 2014

Exploration – Fraser Range (WA)

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New 24 sub-block Fraser Range EL over coincident magnetic & gravity anomalies (after Teck)
EL granted 17 Oct 2014
Heritage Survey 30 Oct 2014
Targeting coincident gravity and magnetic highs for buried IOCG systems within Fraser Range Province
400m deep angled RC hole in Nov 2014

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Ramelius Resources Limited • AGM Presentation - October 2014

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Exploration – Tanami (NT)

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Farm-in JV secured over 1,700km[2] of prospective geology
Under-explored and within 100km of Newmont’s 4.5Moz Callie Gold Mine and Granites Treatment Plant
Walk-up Callie-style drill targets within granted Suplejack EL
Suplejack RC drilling planned for Nov 2014, pending heritage survey results

Ramelius Resources Limited • AGM Presentation - October 2014

Exploration – Timeline

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Active Exploration Program

Project	Sep-14	Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15
Brownfields
Coogee (WA)	Site prep	Drilling Results assessment
Vivien Gem (WA)	Site prep	Drilling Results assessment
Kathleen Valley (WA)		Heritage Drilling BFS & Mining Approvals Ready to develop
Greenfields
Fraser Range (WA)	Heritage	EL Grant Drilling Results assessment
Moonlight Creek (Qld)	Site prep	Drilling Results assessment
Eungella, Yandan & Auburn (Qld)		EL Grant Rock chip & soil sampling
Suplejack - Tanami JV (NT)		Heritage Drilling Results assessment
Highland Rocks - Tanami JV (NT)	Heritage	EL Grant Rock chip & soil sampling

Ramelius Resources Limited • AGM Presentation - October 2014

Summary - The Investment Case

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Australian gold producer in a strong financial position to ro ress near term hi h rade develo ment ro ects p g , g g p p j Operations

Upside Capital Position

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Ramelius Resources Limited • AGM Presentation - October 2014

Thank you

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Contact details:

Mark Zeptner – Chief Executive Officer
Phone – +61 8 9202 1127
Email – [email protected]
Website – www.rameliusresources.com.au

Ramelius Resources Limited • AGM Presentation - October 2014

Production Targets, Mineral Resources and Ore Reserve Note

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¹ All Mt Magnet Production targets are based on current Ore Reserves. For detailed information relating to Mt Magnet Mineral Resources and Ore Reserves see ASX release (RMS) 3 Sept 2014, ‘Resources and Reserves Statement’.

² For detailed information relating to Vivien Mineral Resources see ASX release (RMS) 3 Sept 2014, ‘Resources and Reserves Statement’.

³ Vivien Production Target based on Ore Reserves plus a small proportion of Inferred Mineral Resource (7% oz). For detailed information relating to Vivien Mining Inventory and Ore Reserve see ASX release (RMS) 30 May 2014, ‘Vivien Gold Mine Feasibility Completed’.

⁴ Kathleen Valley Project production target is based on a mining scoping study based on Indicated (48% oz) and Inferred (52% oz) Mineral Resources. For detailed information relating to the Mineral Resource see ASX release (RMS) 3 Sept 2014, ‘Resources and Reserves Statement’. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.

The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

Ramelius Resources Limited • AGM Presentation - October 2014

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Mineral Resource Statement

MINERAL RESOURCES AS AT 30 JUNE 2014 - INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2014 - INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2014 - INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2014 - INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2014 - INCLUSIVE OF RESERVES
Deposit	Measured	Indicated	Inferred	Total Resource
	Tonnes Au Au ('000s) g/t Oz	Tonnes Au Au ('000s) g/t Oz	Tonnes Au Au ('000s) g/t Oz	Tonnes Au Au ('000s) g/t Oz
Galaxy MorningStar	1,266 1.7 69,000	6,984 2.0 451,000 1,765 1.8 103,000	4,501 1.3 185,000 4 1.4 -	12,751 1.7 705,000 1,770 1.8 103,000
Total major deposits	1,266 1.7 69,000	8,749 2.0 554,000	4,505 1.3 185,000	14,520 1.7 808,000
Bartus Group Boomer Britannia Well Bullocks Eastern Jaspilite Eclipse Golden Stream Hill 60 Lone Pine O'Meara Group Shannon Spearmont - Galtee Stellar Welcome - Baxter	49 2.2 4,000 146 2.2 10,000 199 2.5 16,000 94 2.5 8,000 160 2.1 11,000 222 1.6 11,000	115 2.1 8,000 1,194 1.8 68,000 179 2.0 12,000 202 3.3 21,000 121 2.8 11,000 167 2.2 12,000 154 2.9 14,000 277 1.7 15,000 231 2.5 18,000 35 2.5 3,000 25 2.9 2,000 87 1.9 5,000 276 1.6 15,000	238 1.6 12,000 786 1.0 26,000 40 2.5 3,000 134 2.5 11,000 41 2.1 3,000 7 1.7 - 309 4.6 46,000 147 1.7 8,000 151 1.5 7,000 42 2.6 3,000 207 4.3 28,000 59 1.8 3,000 198 1.8 11,000	402 1.8 24,000 1,980 1.5 94,000 179 2.0 12,000 242 3.2 25,000 401 2.4 32,000 208 2.1 14,000 160 2.8 15,000 309 4.6 46,000 623 1.9 38,000 383 2.1 26,000 170 2.5 14,000 232 4.1 31,000 306 2.0 19,000 696 1.7 37,000
Total satellite deposits	869 2.1 60,000	3,063 2.1 204,000	2,359 2.1 161,000	6,291 2.1 425,000
Hill 50 Deeps Morning Star Deeps Saturn UG St George UG Water Tank Hill UG	279 5.5 49,000 110 4.9 17,000	932 7.0 209,000 195 4.2 26,000 149 4.2 20,000 229 6.6 49,000	396 6.4 81,000 334 5.0 53,000 1,607 2.5 127,000 42 4.0 5,000 89 4.9 14,000	1,607 6.6 339,000 528 4.7 79,000 1,607 2.5 127,000 302 4.4 42,000 318 6.1 63,000
Total UG deposits	390 5.3 66,000	1,504 6.3 304,000	2,468 3.5 280,000	4,362 4.6 650,000
WesternQueen South		104 3.6 12,000	81 3.4 9,000	185 3.5 21,000
Mt Magnet Stockpiles	113 1.1 4,000	890 0.6 17,000	- -	1,003 0.7 21,000
Mt Magnet Total	2,638 2.3 199,000	14,310 2.4 1,091,000	9,413 2.1 635,000	26,361 2.3 1,925,000
Mossbecker Yellow Aster/Nils D.		182 3.2 19,000 282 2.5 23,000	338 4.0 44,000 638 2.1 44,000	520 3.8 63,000 920 2.3 67,000
Kathleen Valley Total		464 2.8 42,000	976 2.8 88,000	1,440 2.8 130,000
Coogee Vivien		31 3.6 4,000 499 8.8 141,000	65 3.3 7,000 306 4.4 43,000	96 3.4 11,000 805 7.1 184,000
Other Deposits Total		530 8.5 145,000	372 4.2 50,000	902 6.7 195,000
Total Resources	2,638 2.3 199,000	15,304 2.6 1,278,000	10,761 2.2 773,000	28,702 2.4 2,250,000
Note: Figures rounded to neares

Ramelius Resources Limited • AGM Presentation - October 2014

Ore Reserve Statement

	ORE RESERVE STATEMENT AS AT 30 JUNE 2014	ORE RESERVE STATEMENT AS AT 30 JUNE 2014	ORE RESERVE STATEMENT AS AT 30 JUNE 2014
	Proven	Probable	Total Reserve
	Tonnes Au Au ('000s) g/t Oz	Tonnes Au Au ('000s) g/t Oz	Tonnes Au Au ('000s) g/t Oz
*Galaxy Pits* Saturn Mars Titan Perseverance Brown Hill *Morning Star Cutback* Morning Star *Satellite Pits* Boomer Lone Pine O'Meara Golden Stream *Underground* Water Tank Hill St George *Stockpiles*	204 1.8 12,000 176 2.0 11,000 667 1.4 30,000 73 3.6 8,000 113 1.1 4,000	170 1.7 9,000 426 2.0 28,000 483 1.4 21,000 597 2.5 48,000 109 2.6 9,000 478 2.8 43,000 132 2.9 12,000 258 1.8 15,000 46 3.4 5,000 95 3.0 9,000 176 6.5 37,000 86 3.0 8,000 890 0.6 17,000	374 1.8 21,000 603 2.0 39,000 1,150 1.4 51,000 597 2.5 48,000 109 2.6 9,000 478 2.8 43,000 132 2.9 12,000 258 1.8 15,000 46 3.4 5,000 95 3.0 9,000 176 6.5 37,000 159 3.3 16,000 1,003 0.7 21,000
Mt Magnet Total	1,234 1.6 65,000	3,945 2.1 261,000	5,179 2.0 326,000
Vivien		400 7.9 101,000	400 7.9 101,000
Total Reserves	1,234 1.6 65,000	4,345 2.6 362,000	5,579 2.4 427,000

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For detailed information relating to Mt Magnet Ore Reserves see ASX release (RMS) 3 Sept 2014, ‘Resources and Reserves Statement’. No material change has occurred.

Note: Figures rounded to nearest 10,000 tonnes, 0.1 g/t and 1,000 ounces. Rounding errors may occur.

Ramelius Resources Limited • AGM Presentation - October 2014

AI assistant

RAMELIUS RESOURCES LIMITED — AGM Information 2014

65718_rns_2014-10-29_90ac3ca2-8000-4e85-82e6-8d12d571d0dc.pdf