RAMELIUS RESOURCES LIMITED — Capital/Financing Update 2004

Apr 5, 2004

Ramelius Resources Limited

ACN 001 717 540

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

ASX RELEASE

For Immediate Release Tuesday 6th April 2004

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

HILDITCH NICKEL ANOMALY IN THE SPARGOVILLE NICKEL BELT: RAMELIUS COMPLETES FIRST PASS RAB DRILLING

Ramelius has completed its first pass RAB drilling program at its Hilditch project along with the analytical results of 4m composite sampling.

The program was designed to provide an initial assessment of the geology and geochemistry in the vicinity of a number of EM (Electromagnetic) conductors identified in the south western corner of the Hilditch tenements. The work has identified zones of interest for further investigation.

The main features investigated were

• A northern conductive zone interpreted as Iving within bedrock at a depth of 115 m
• A central conductive zone
• A southern conductive zone with an adjacent weaker conductive zone approximately 200 $\bullet$ m to the east

1. Northern conductive zone

Drilling has identified a tremolitic ultramafic unit within a felsic sequence Iving adiacent to the northern conductor. Further drilling to determine the geometry of this ultramafic unit particularly in relation to the conductor is planned for early May as part of a further 1200 metre drilling program.

2. Central conductive zone

The source of the central conductor located 400m to the south remains unresolved and further drilling is also planned to be undertaken in this vicinity.

3. Southern conductive zones

It appears that the southern conductor and the weak conductor 200m to its east and adjacent to the magnetic ultramafic are due to chert and black shales. No further drilling is planned for these zones.

For further information please contact:

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