RAMELIUS RESOURCES LIMITED — Capital/Financing Update 2003

Oct 26, 2003

Ramelius Resources Limited ACN 001 717 540

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

ASX RELEASE

For Immediate Release Monday, 27 October 2003

SPARGOVILLE: FURTHER STRENGTHENING OF KEY POSITION

Ramelius Resources Limited is pleased to advise that it has further consolidated its strong position in its Regional Spargoville Project, close to Coolgardie in Western Australia.

With the acquisition of the "North Widgiemooltha Gold Rights" from Gold Fields Australasia Pty Ltd, the Company will hold the Gold Rights to contiguous tenements in this region focusing on over 30 km of prospective ground along the Spargos Reward and Kunanalling Shear Zones, north of the Widgiemoottha Dome.

This region has vielded numerous gold and nickel producing mines and hosts the Company's Wattle Dam gold resource and Hilditch nickel anomaly.

This acquisition will deliver to Ramelius all of the Gold Rights on a group of granted mining leases totalling 5,513ha in area (approximately 55kms2) to the south of and adjacent to Ramelius' Wattle Dam Project.

Under the agreement, the consideration to be paid is $250,000 cash. The base metal rights to this ground remain with the tenement holder. Titan Resources Ltd.

For further information please contact:

Mr Joe Houldsworth Managing Director Ramelius Resources Limited Ph. 08 9250 6644