RAMELIUS RESOURCES LIMITED — Capital/Financing Update 2003

Nov 2, 2003

Ramelius Resources Limited

ACN 001 717 540

140 Greenhill Road, Unley SA 5061 GPO Box 1373, Adelaide SA 5001 DX 52003. Unlev Telephone (08) 8373 5588 Facsimile (08) 8373 5933

ASX RELEASE

For immediate Release Monday, 3 November 2003

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

Dear Sir/Madam,

RELEASE OF RESTRICTED SECURITIES

Pursuant to the ASX Listing Rules, Ramelius Resources Limited advises that the following Restricted Securities will be released from escrow and at the expiry of ten business days from the date of this announcement, the Company will apply to ASX for official quotation of these securities.

• 422,850 ordinary fully paid shares $\bullet$
• 836,425 options expiring 31 December 2007

Yours Faithfully

Joe Houldsworth Managing Director