RAMELIUS RESOURCES LIMITED — Capital/Financing Update 2005

Jan 26, 2005

For Immediate Release

Thursday 27 January, 2005

NEW RESULTS CONFIRM MORE NICKEL ZONES

AT HILDITCH FOR RAMELIUS RESOURCES

The Hilditch nickel discovery in Western Australia is growing after new drill results confirmed even further mineralisation within the project area.

Project owner, Ramelius Resources Limited (ASX code: "RMS") said today the results confirmed the "nickel fertility" of the Hilditch area within the Spargoville Belt 25 kilometres west of Kambalda.

Ramelius' Managing Director, Mr Joe Houldsworth said. "Most of the drilling has been within the oxide zones and is yet to get into the deeper supergene and primary zones so the upside at Hilditch is extremely encouraging."

"This project is getting bigger and more exciting with the drill results all heading in the right direction," Mr Houldsworth said.

As a result of the drill outcomes - from an RC drilling program conducted during December last year - Ramelius will now commence a 1,900 metre RC drilling program and a 300 metre diamond tail program within two weeks to target massive sulphides below some of the successful holes drilled during December.

Detailed results of the December program, released today, included:

• As previously announced, massive sulphides grading 3.9% nickel and $\bullet$ 0.5% copper were intersected on the western contact between ultramafics and a mafic unit at a down hole depth of 74 metres
• A further zone of nickel bearing sulphides grading 1.3% nickel and 0.1% $\bullet$ copper was also intersected by hole HRC025 at 93 to 94 metres.
• Shallow geochemical drilling intersected nickel mineralisation associated with the western zone both north and south of the original drill line. These intersections returned values to 0.8% nickel and 0.1% copper in the oxide zone.
• Approximately 1.5 kms south and along strike, shallow RC drilling beneath $\bullet$ . Gossan HR 133 returned an 8 metre wide intercept of 0.4% nickel between 9 metres and 17 metres depth of which the more significant interval is 14 metres to 16 metres which returned 2 metres at 0.5% nickel and 0.1% copper.

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

MEDIA CONTACT: Joe Houldsworth Kevin Skinner Mark Lindh

Ramelius Resources Field Public Relations Investor Relations

08 9250 6644 / 0408 920 891 08 8234 9555 / 0414 822 631 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

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