RAMELIUS RESOURCES LIMITED — Capital/Financing Update 2003

Oct 26, 2003

FOR IMMEDIATE RELEASE 27 October, 2003

RAMELIUS TIGHTENS GRIP ON

GOLD RIGHTS IN COOLGARDIE

Listed gold explorer, Ramelius Resources Limited, has acquired further gold rights to consolidate its exposure to the regional Spargoville Project near Coolgardie in Western Australia.

Ramelius announced today it will acquire the North Widgiemooltha Gold Rights from Gold Fields Australasia Pty Ltd, for \$250,000 cash.

With the acquisition, Ramelius will have gold rights to more than 30 kilometres of contiguous prospective tenements covering approximately 5,500 hectares of granted mining leases focused along the Spargos Reward and Kunanalling Shear Zones, north of the Widgiemooltha Dome.

"This region has vielded numerous gold and nickel producing mines and hosts the Company's Wattle Dam gold resource and Hilditch nickel anomaly," Ramelius' Managing Director, Mr Joe Houldsworth, said.

Base metal rights to the North Widgiemooltha block remain with Titan Resources Ltd.

Exploration licences to key blocks in the Spargoville and nearby Gnarlbine gold projects were also granted to Ramelius last week.

MEDIA CONTACT:

Joe Houldsworth Ramelius Resources Limited 08 9250 6644

Kevin Skinner Field Public Relations 08 8234 9555 / 0414 822 631

Mark Lindh Ramelius Investor Relations 0414 551 361

issued through FIELD PUBLIC RELATIONS PTY LTD ABN 74 008 222 311 231 South Road, MILE END SA 5031 Ph: 08 8234 9555 Fax: 08 8234 9566 admin@fieldpr.com.au