RAMELIUS RESOURCES LIMITED - Interim / Quarterly Report 2017

For Immediate Release 31 January 2017

December 2016 Quarterly Activities Report

HIGHLIGHTS – OPERATIONS, DEVELOPMENT & EXPLORATION

Group gold production of 31,367 ounces at an AISC of A$1,464/oz (US$1,098/oz) (Guidance A$1,100/oz or US$825/oz). It should be noted that the AISC calculation uses gold sold rather than gold produced, with 25,528 ounces sold in the Quarter and 5,839 ounces on hand at Quarter’s end.
First Half FY2017 Group gold production of 67,546 ounces at an AISC of A$1,131/oz (US$848/oz), on track to meet annual Guidance of 135,000 ounces*
Mt Magnet
Blackmans open pit - open pit set-up work completed, production commenced
Water Tank Hill underground - approvals received, decline rehab commenced
Stellar open pits - upgraded Mineral Resource announced in December 2016
Mt Magnet Exploration - Mineral Resource modelling underway at Morning Star following further positive RC drilling results (see Exploration section), including; o 15m @ 3.49 g/t Au from 111m in GXRC1520, incl. 5m @ 6.25 g/t Au o 4m @ 20.21 g/t Au from 113m in GXRC1525, incl. 1m @ 75.5 g/t Au

Vivien

Upgraded Mineral Resource to 854,000 tonnes @ 7.2 g/t for 198,000 ounces, an increase of 45,000 ounces (24%) over previous, after including production-to-date

PRODUCTION GUIDANCE – MARCH 2017 QUARTER

Group gold production for the March 2017 Quarter is expected to be 30-34,000 ounces at an AISC of ~A$1,100/oz (US$825/oz*)
Capital development expenditure of approximately A$10.0M:
Water Tank Hill underground development (Mt Magnet) - A$6.0M
o Exploration (Mt Magnet & Vivien) - A$4.0M

HIGHLIGHTS – CORPORATE

Quarterly gold sales A$41.0M at an average sale price of A$1,604/oz
Cash & gold on hand increased to A$95.0M (Sep-16 Qtr: A$88.7M), after A$7.4M capital development expenditure comprising Blackmans open pit set-up (A$0.3M), Water Tank Hill decline rehab (A$3.7M) & exploration (A$3.4M)
At 31 December 2016, forward gold sales consisted of 97,009 ounces of gold at an average price of A$1,673/oz over the period to June 2018
Nil corporate debt
exchange rate assumed 0.75 US$ : A$

ABOUT RAMELIUS

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Figure 1: Ramelius’ Operations & Development Project Locations

Ramelius owns the Mt Magnet gold mining and processing operation and is operating the high grade Vivien underground gold mine near Leinster, in Western Australia.

PRODUCTION SUMMARY

Table 1: Gold Production and Financial Information

		December 2016 Quarter	December 2016 Quarter	December 2016 Quarter	December 2016 Quarter	H1 FY17
	Units	Mt Magnet	Vivien	Kathleen Valley	Group Total	Group Total

	t	325,008	51,826	‐	376,834	600,524
	t	366,341	71,432	15,790	453,563	939,488
	g/t	1.10	7.03	3.85	2.13	2.36
	%	91	97	97	94	94
	oz	11,745	15,622	1,884	29,251	67,293

	oz	12,674	16,524	2,169	31,367	67,546
	A$M				30.2	55.2
	A$/oz				962	817

	oz				25,528	64,768
	A$M				37.4	73.3
	A$/oz				1,464	1,131

Gold sales	A$M				41.0	106.1
Average realisedgoldprice	A$/oz				1,604	1,639
* as per World Gold Council guidelines

^ net of by‐product credits

OPERATIONS

Mt Magnet Gold Mine (WA)

Mining continued in the Galaxy Mine Area throughout the Quarter with the transition from the Perseverance open pit to the Titan open pit almost completed (refer Figure 2). The bulk of total material movements were carried out in Titan (refer Figure 3), with low strip ratio, smaller volumes of material mined from the lowermost benches of Perseverance. The Perseverance open pit is expected to be completed early in the March 2017 Quarter.

Mining activity ramped up at the Blackmans open pit (refer Figure 4), located 30km north of Mt Magnet. Removal of much of the flat-lying laterite ore was carried during the Quarter, with ore haulage commencing in November 2016.

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Figure 2: Mt Magnet key mining & exploration areas

Claimed high-grade ore mined at Mt Magnet was 325,008 tonnes @ 1.51 g/t for 15,798 ounces with mill reconciled production (including the addition of stockpiled and Titan low grade) of 366,341 tonnes @ 1.10 g/t for 11,745 ounces recovered.

Total mill production (refer Figure 5), including Kathleen Valley and Vivien ore, was 453,563 tonnes @ 2.13 g/t for 29,251 ounces recovered at 94.3% recovery. A scheduled 4-day SAG mill re-line was completed in December 2016, with the next such shutdown not scheduled for approximately six months, depending on the actual wear rate of the mill liners and lifters.

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Figure 3: Titan open pit cutback, looking east

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Figure 4: Blackmans open pit, looking north

Gold production (refer Figure 6) met Guidance of 31-35,000 ounces, with 31,367 ounces of fine gold poured for the Quarter. Cash costs for the period increased to A$962/oz and AISC also increased to A$1,464/oz (Guidance A$1,100/oz). This was primarily a result of lower overall gold production, which in part was due to over-performance from Kathleen Valley in the September 2016 Quarter leading a reduction in production in the December 2016 Quarter as the project was completed early. In addition to this, AISC is calculated on gold sold as opposed to gold produced (i.e. 25,528 ounces sold versus 31,367 ounces produced). The difference between gold sold and gold produced does tend to even out over the course of the year, with timing of actually pouring and selling gold dependent on when the end of Quarter actually falls. This is evidenced by the fact that First Half FY2017 gold production is 67,546 ounces @ an AISC of A$1,131/oz, closer to the gold sold figure of 64,768 ounces.

Production for the March 2017 Quarter is expected to be between 30,000 and 34,000 ounces. The midpoint of forecast production (32,000oz) is expected to be delivered at an AISC of A$1,100/oz.

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Figure 5: Mt Magnet Quarterly Milled Tonnes & Head Grade

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Figure 6: Mt Magnet Quarterly Production & Costs

Kathleen Valley Gold Mine (WA)

Kathleen Valley mining was completed late in the September 2016 Quarter. The Yellow Aster North open pit was completed in mid-August 2016, followed by the Nil Desperandum open pit in mid-September 2016. Rehabilitation was carried out concurrently with mining activities and therefore final rehabilitation work, other than ongoing monitoring, was also completed in the December 2016 Quarter.

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Figure 7: Yellow Aster open pit – rehabilitated waste dump & abandonment bund

Ore haulage was completed in the early part of the Quarter and Kathleen Valley attributed mill production was 15,790 tonnes @ 3.85 g/t for 1,884 recovered ounces.

In summary, the Kathleen Valley project has been very successful for Ramelius. This is demonstrated in the summary of key metrics in Table 2 below;

Table 2 : Kathleen Valley Project Completion Comparison (financial results are based on internal management reports)

	Unit	Feb‐15 BFS	Dec‐16 Actual	Variance %
Physicals
Ore tonnes	t	423,700	468,011	10%
In situ grade	g/t	4.12	4.53	10%
Recovered ounces	Oz	55,343	65,244	22%
Financials
Total revenue	$M	74.68	98.68	32%
Total cost	$M	54.19	67.13	24%
Total cost per ounce	A$/oz	$1,016	$1,129	1%
Cash flow	$M	20.49	31.55	54%

Vivien Gold Mine (WA)

Claimed mined production, including low grade, increased to a new record of 59,444 tonnes @ 7.49 g/t for 14,313 ounces.

Ore development was a major focus during the quarter and occurred on the 300, 280 and 260 levels. Floor benching of the 300 level commenced toward the end of the quarter to allow for placement of a cemented rock fill sill pillar. This pillar will underpin the full extraction and backfilling of the 360-300 stoping blocks. Development to the south also occurred on the 280 and 260 levels exposing good lode zones as predicted by the resource model.

Stoping was completed on the 360-340 stoping level and four blind up-hole panels in the 320 north also mined (refer Figure 8). Stope production rates will increase significantly once the 300 pillar is completed toward the end of the March 2017 Quarter.

Ore haulage continued throughout the quarter and Vivien attributed mill production was 71,432 tonnes @ 7.03 g/t for 15,622 recovered ounces.

Deep exploration underground drilling is expected to commence during the March 2017 Quarter.

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Figure 8: Vivien development & stoping progress (grey) - oblique view to east

Vivien Resource Update

An update of the resource model was generated at 31 December 2016 (refer Table 3). The resource incorporates new underground diamond drilling and development sampling information. It was depleted for mining and reflects the greater confidence levels gained to date.

Table 3: Vivien Mineral Resource at 31 December 2016


Category	Tonnes Grade Au (oz)
Measured Indicated	111,000 11.6 41,000 568,000 6.9 126,000
Total Meas. & Ind.	679,000 7.6 167,000
Inferred	175,000 5.5 31,000
Total	854,000 7.2 198,000

Note: Inclusive of Ore Reserves Note: Figures are rounded to nearest 1,000 tonnes, 0.1 g/t and 1,000 ounces. Rounding errors may occur.

This resource represents a significant improvement over the 2014 resource of 805,000 t @ 7.1 g/t for 85,000 ounces (141,000 oz Indicated Resource) considering that 33,000 ounces have been depleted for mining. A revised mine plan and Ore Reserve will be generated in the March 2017 Quarter.

Mineral Resource Commentary

The Vivien deposit is a high-grade, quartz vein hosted, lode style deposit. Gold mineralisation is closely associated with sulphide content. It is steeply dipping (70°) and typically between 1 and 5 metres wide. Higher grade shoots plunge to the NE. It was mined historically as an underground (circa 1910) and open-pit (1997). Ramelius has completed significant new development and stoping between 150 to 240 metres vertical depth in 2016 (refer Figure 9).

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Figure 9: Resource long section by Au grade, showing mining depletions (grey)

The resource is based on 228 surface RC and Diamond holes, plus 24 recently completed underground diamond holes for 3,582m (see ASX Releases 14/06/16 & 19/12/16) and sampling of 614 ore development faces. The lode was interpreted on 12.5m cross sections and wireframed. A block model was generated and grades were estimated using Ordinary Kriging with geostatistically determined parameters, directions and topcut. Resource categories were assigned based on drillhole spacing, ore development locations and improved confidence in geological and grade continuity seen to date. Ore processed to date is 130,598 tonnes @ 7.72 g/t for 31,422 recovered ounces at 97.0% recovery. Detailed information is given in Appendix A - JORC Table 1 below.

PRODUCTION TARGETS

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Figure 10: FY2017 Group Production Profile

PROJECT DEVELOPMENT

Water Tank Hill Project (WA)

The Water Tank Hill project lies 1.5km west of the town of Mt Magnet (refer Figure 2). The deposit is located 300m west of the St George deposit, which was mined by open pit and then underground methods between 2005 and 2007. Gold mineralisation at the Water Tank Hill deposit occurs within a fold and fault thickened portion of the Banded Iron Formation host rocks.

Current Ore Reserves, released in September 2016, have a combined total for Water Tank Hill and St George of 335,000 tonnes @ 4.9 g/t for 53,000 ounces (refer ASX Release; ‘Resources and Reserves Statement’ 30 September 2016) .

The Quarter saw final approvals received and commencement of open pit and underground rehabilitation work. In addition to surface infrastructure, some 708 metres of the St George decline was rehabilitated during the Quarter (refer Figure 11). The first development ore from the Water Tank Hill orebody is expected late in the March 2017 Quarter.

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Figure 11: Water Tank Hill underground mine

Milky Way Project/Stellar/Stellar West Project (WA)

The Milky Way open pit is located 3.6km south of the Mt Magnet Checkers mill (refer Figure 2). The deposit was mined in 1999-2000 and produced 626,723 t @ 1.64 g/t for 33,073 oz. Gold mineralisation occurs as stockwork style of sericite-silica-pyrite veining and alteration within a thick altered felsic porphyry unit intruded into ultramafic flow sequences.

Ramelius released an updated Mineral Resource and new Ore Reserve in September 2016. The new Ore Reserve is;

Table 4: Milky Way Ore Reserve (>0.65 g/t)

Category	tonnes	grade	ounces
Probable	1,875,000	1.3	78,000

Note: Figure are rounded to nearest 1,000 tonnes, 0.1 g/t and 1,000 ounces. Rounding errors may occur.

See ASX Release, ‘Resource and Reserve Statement’, 30 September 2016 for further details.

Follow up drilling in the Stellar and Stellar West area resulted in an updated Mineral Resource being released in December 2016;

Table 5: Stellar/Stellar West Mineral Resources (>0.7g/t)

Deposit	Category	tonnes grade	ounces
Stellar	Indicated Inferred	637,000 1.5 124,000 1.9	32,000 7,000
	Total	761,000 1.6	39,000
Stellar West	Indicated Inferred	414,000 1.7 97,000 1.1	22,000 3,000
	Total	511,000 1.6	26,000
Total	Indicated Inferred	1,051,000 1.6 221,000 1.5	54,000 11,000
	Total	1,271,000 1.6	65,000

Note: Figures rounded to nearest 1,000 tonnes, 0.1g/t and 1,000 ounces. Rounding errors may occur.

See ASX Release, ‘Exploration & Resource Development Drilling Update’, 19 December 2016 for details.

Work is currently underway to submit a combined Mining Proposal for the Milky Way/Stellar/Stellar West area, following completion of the necessary geotechnical, hydrology, mine & waste dump design and mine scheduling tasks.

EXPLORATION SUMMARY

Ramelius currently has a suite of gold exploration projects at various stages of advancement, as shown on Figure 12.

Exploration during the Quarter continued to focused on step out RC drilling and reconnaissance Aircore drilling at Mt Magnet.

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Figure 12: Current Brownfields and Greenfields Exploration Projects location plan

Mt Magnet Gold Project (WA)

An aggregate of 8,531m of RC drilling (GXRC1473 - 1527) was completed at Mt Magnet, around the Morning Star, Black Cat South and Hesperus pits, while 378 reconnaissance Aircore holes (GXAC0310 – 687) for an aggregate 21,184m was undertaken to scope for additional porphyry targets within the Boogardie Basin during the Quarter. The reader is referred to the Company’s ASX Release dated 19 December 2016 – Exploration & Resource Development Drilling Update for details on the drill holes GXRC1473 – 1512.

MORNING STAR DRILLING

Deeper RC drilling below the Morning Star pit, including the Eddie Carson Lode, continued until the Christmas break. The drilling was testing for blind mineralised quartz lodes, porphyry units and banded iron formations away from the historically mined high grade lode positions (refer Figures 13 and 14). Encouraging results continue to be returned from this exploration strategy. Better intersections returned from the Eddie Carson Lode that were drilled subsequent to the 19 December release include:

15m @ 3.49 g/t Au from 111m in GXRC1520, incl 5m @ 6.25 g/t Au
10m @ 2.89 g/t Au from 166m in GXRC1524
3m @ 11.47 g/t Au from 180m in GXRC1524

4m @ 20.21 g/t Au from 113m in GXRC1525, incl 1m @ 75.5 g/t Au
12m @ 5.53 g/t Au from 173m in GXRC1525, incl 2m @ 24.48 g/t Au

The Eddie Carson Lode represents a series of north-northwest trending quartz-sulphide veins/veinlets hosted within andesitic volcaniclastics that occupy the north-eastern corner of the Morning Star pit. Several lode positions have been intersected to date but the true widths of the mineralised intersections remain unclear given the broad nature of the exploration drilling. Infill drilling will be required to better determine the true orientation and thickness of the veins.

BLACK CAT SOUTH DRILLING

RC drilling targeted the saddle between the Morning Star pit and the Black Cat South pit. Drilling is ongoing here testing the historically mined chert/banded iron hosted mineralisation as well as quartz veins in mafic volcaniclastics and mineralised porphyry lenses in the hangingwall (west of the historically mined main lode). An updated long section is attached as Figure 14. Reported results received to date include:

7m at 5.98 g/t Au from 100m in GXRC1509, incl 1m at 27.3 g/t Au
3m at 7.36 g/t Au from 83m in GXRC1510, incl 1m at 17.35 g/t Au  3m at 9.08 g/t Au from 61m in GXRC1511, incl 1m at 20.9 g/t Au

HESPERUS EAST DRILLING

Broad zones of significant gold mineralisation have been returned from selected RC drilling east of the Hesperus pit (refer Figure 2). The deeper RC holes have shown good dip continuity of mineralised intersections. Gold mineralisation is associated with a series of north-northwest striking felsic porphyry rocks intruding into the mafic/ultramafic stratigraphy (refer Figure 15). They are disrupted by the north-easterly trending Boogardie Breaks. Better porphyry hosted drill results (as reported 19 December 2016) occur where the Boogardie Breaks intersect the porphyry units, including:

20m at 1.23 g/t Au from 31m in GXRC1501
16m at 1.32 g/t Au from 105m in GXRC1505
20m at 1.34 g/t Au from 44m in GXRC1506 and
12m at 2.44 g/t Au from 26m in GXRC1507

MORNING STAR DEEPS DRILLING

Deep exploratory navigational diamond drilling is scheduled to commence at the Morning Star Deeps in late January 2017, with the aim of delineating resource extensions below the current limit of underground mining (980mbs) down to approximately 1,500mbs. Initially the drilling will target the interpreted high grade keel of the Morning Star deposit where previous deep diamond drilling confirmed the depth continuity of the high grade gold mineralisation. Better historical (Hill 50 Gold NL - circa 1992) diamond drill results, from the deepest hole, include:

16m at 9.05 g/t Au from 1,145m in MSD0044F and
11.6m at 9.99 g/t Au from 1,178m in MSD0044F and
8.0m at 10.20 g/t Au from 1,196m in MSD0044F

December 2016 Quarter drill hole assay data (not previously reported) is provided in Attachment 1.

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Figure 13: Morning Star pit plan view highlighting targeted lode extensions including the Eddie Carson Lode and the saddle between Morning Star & Black Cat South pit

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Figure 14: North-south section through the Black Cat South pit looking east

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Figure 15: Hesperus East cross section

BOOGARDIE BASIN – AIRCORE DRILLING

Regional Aircore drilling traverses continued throughout the Boogardie Basin during the Quarter. The Aircore drilling is targeting porphyry-ultramafic contacts in areas of ineffective historical drilling as well as targeting shallow plus 100ppb gold in regolith anomalies and/or historical bottom of shallow RAB/Aircore anomalies where present. Several new target areas including Artemis and Bundy Flats have been identified for followup RC drilling in addition to the previously reported Zeus and Venus targets (refer Figure 16).

ZEUS PROSPECT

Exploration drilling adjacent to the Stellar West deposit has delineated significant quartz vein hosted gold mineralisation along the western flank of the newly named Zeus Porphyry. A single reconnaissance RC drill hole (GXRC1492) returned a highly encouraging intersection of 8m @ 12.20 g/t Au from 65m, to end of hole, associated with the abundant quartz veining within altered porphyry on the contact with ultramafics. This intersection correlates well with the significant porphyry hosted Aircore drill results up to 19m @ 1.31 g/t Au from 32m, located 140m further north. This Zeus Prospect area will become a focus for infill Aircore and deeper RC drill testing during 2017.

ARTEMIS PROSPECT

The Artemis Porphyry was tested by three Aircore traverses 400 to 600m apart. Better drill intersections include 22m @ 0.69 g/t Au from 48m, including 12m @ 1.01 g/t Au in GXAC0631. The anomalous gold mineralisation is associated with oxidised porphyry rocks adjacent to ultramafic contacts. Historical drilling over this target area was too shallow to identify any gold anomalism. Follow-up Aircore drilling and RC drill testing is planned.

BUNDY FLATS PROSPECT

At Bundy Flats encouraging intersections up to 16m @ 1.63 g/t Au from 16m, including 4m @ 5.63 g/t Au in GXAC0665 were returned. Mineralisation is again associated with upper saprolite anomalism along a porphyry – ultramafic contact. Infill Aircore drilling and RC drill testing is being planned.

Significant (>0.4g/t Au) composite drill hole assay data for the Aircore holes not previously reported, up to and including GXAC0687 is provided in Attachment 2.

Deeper RC drill testing proposed to follow-up on the Venus and Zeus targets during the December 2016 Quarter was delayed as priorities focussed on RC drilling around the Morning Star pit. A second RC rig has been contracted from January 2017 to ensure the Aircore prospects can be followed up concurrently with infill and extension RC drilling below the Morning Star and Black Cat South open pits (refer Figure 17).

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Figure 16: Reconnaissance Aircore & RC drilling completed by Ramelius throughout the Boogardie Basin to date

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Figure 17: Longitudinal section through the Morning Star Deeps

Tanami Joint Venture (NT) – Ramelius 85%

An aggregate 5,780m of reconnaissance Aircore drilling was completed over the Highland Rocks ELs during the Quarter (HRAC0001 – 167). Disappointingly, only low order gold anomalism was returned from the drilling program (see ASX Release dated 19 December 2016).

It is anticipated the balance of the Tanami joint venture ELA’s will be granted ahead of the start of the 2017 field season in April. Also further work is scheduled to follow up other areas of gold anomalism identified from previous soil sampling programs.

Coogee Gold Project (WA)

No significant results were returned from the small diamond drilling program completed over Coogee Beach as reported last Quarter.

CORPORATE & FINANCE

Gold sales for the December 2016 Quarter were A$41M at an average price of A$1,604/oz.

At 31 December 2016, the Company had A$85.7M of cash and A$9.3M of gold bullion on hand for a total of A$95.0M . This represents a A$6.3M increase from the September 2016 Quarter (A$88.7M) after capital development expenditure comprising Blackmans open pit set-up (A$0.3M), Water Tank Hill decline rehab (A$3.7M) and exploration (A$3.4M).

The sale of the Kathleen Valley Project tenements to Liontown Resources Limited’s ( ASX: LTR ) subsidiary LRL (Aust) Pty Ltd was completed on 9 December 2016 with the issue of 25 million fully paid ordinary LTR shares to Ramelius. Ramelius retains 100% rights to all gold won from the tenement package and will be entitled to a $0.50 per tonne production royalty on any rare metal pegmatite hosted ore (including lithium, tantalum and associated metals) mined and milled from the tenements and a royalty of 1% of the gross sales of concentrate produced from rare metal pegmatite hosted ore removed from the tenements.

The A$10M financing facility secured with the Commonwealth Bank of Australia (CBA) in June 2015 remains undrawn.

At 31 December 2016, forward gold sales consisted of 97,009 ounces of gold at an average price of A$1,673/oz over the period to June 2018. The hedge book summary is shown below in Table 6;

Table 6: Hedge Book Summary

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For further information contact: Mark Zeptner Duncan Gordon Managing Director Executive Director Ramelius Resources Limited Ph: +61 8 9202 1127 Ph: +61 8 8232 8800

Executive Director Adelaide Equity Partners Ph: +61 8 8232 8800

FORWARD LOOKING STATEMENTS

This report contains forward looking statements. The forward looking statements are based on current expectations, estimates, assumptions, forecasts and projections and the industry in which it operates as well as other factors that management believes to be relevant and reasonable in the circumstances at the date such statements are made, but which may prove to be incorrect. The forward looking statements relate to future matters and are subject to various inherent risks and uncertainties. Many known and unknown factors could cause actual events or results to differ materially from the estimated or anticipated events or results expressed or implied by any forward looking statements. Such factors include, among others, changes in market conditions, future prices of gold and exchange rate movements, the actual results of production, development and/or exploration activities, variations in grade or recovery rates, plant and/or equipment failure and the possibility of cost overruns. Neither Ramelius, its related bodies corporate nor any of their directors, officers, employees, agents or contractors makes any representation or warranty (either express or implied) as to the accuracy, correctness, completeness, adequacy, reliability or likelihood of fulfilment of any forward looking statement, or any events or results expressed or implied in any forward looking statement, except to the extent required by law.

COMPETENT PERSONS

The information in this report that relates to Exploration Results, Mineral Resources and Ore Reserves is based on information compiled by Kevin Seymour (Exploration Results), Rob Hutchison (Mineral Resources) and Duncan Coutts (Ore Reserves), who are Competent Persons and Members of The Australasian Institute of Mining and Metallurgy. Kevin Seymour, Rob Hutchison and Duncan Coutts are full-time employees of the company. Kevin Seymour, Rob Hutchison and Duncan Coutts have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Kevin Seymour, Rob Hutchison and Duncan Coutts consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.

Attachment 1: Significant (>0.5 g/t Au) RC drilling, Mount Magnet, WA

Hole Id	Easting	Northing	Az/Dip	RL	F/Depth (m)	From (m)	To (m)	Interval (m)	g/t Au
GXRC1513	580862	6896675	070/-60	444	133	43 58 74 79 97	47 59 75 80 101	4 1 1 1 4	0.63 0.56 0.56 5.54 6.11
GXRC1514	580876	6896733	072/-61	445	139	22 30 37	23 34 38	1 4 1	0.59 0.41 0.97
GXRC1515	580797	6896704	070/-60	443	139	20 24 29 67 76 135	21 25 33 71 80 136	1 1 4 4 4 1	5.33 0.60 3.02 1.57 1.95 0.59
GXRC1516	580786	6896977	113/-64	447	121	5 26 33 83 99	6 28 36 84 100	1 2 3 1 1	2.74 0.63 1.14 0.58 1.93
GXRC1517	580786	6896995	074/-63	448	181	0 19 44 51 73 82 123	1 22 45 52 74 84 124	1 3 1 1 1 2 1	0.58 0.62 0.67 0.64 2.49 1.85 1.64
GXRC1518	581194	6897475	070/-62	442	175				NSR
GXRC1519	581170	6897506	070/-62	442	193				NSR
GXRC1520	581156	6897526	070/-70	442	181 Incl.	111 121 152	126 126 153	15 5 1	3.49 6.25 1.46
GXRC1521	581142	6897562	070/-70	442	163	90 99	91 100	1 1	0.89 0.86
GXRC1522	581150	6897586	070/-70	442	151	66 94	67 96	1 2	1.56 0.88
GXRC1523	581126	6897637	250/-70	442	151	149	150	1	3.86
GXRC1524	581168	6897631	258/-70	442	235	104 121 125 137 166 180 188 212 229	106 122 126 138 176 183 192 213 230	2 1 1 1 10 3 4 1 1	0.99 4.83 1.06 0.98 2.89 11.47 4.82 0.68 1.20
GXRC1525	581219	6897603	248/-61	441	247 Incl. Incl.	1 11 15 40 45 113 114 139 173 173 209 243	5 12 17 42 46 117 115 140 185 175 214 245	4 1 2 2 1 4 1 1 12 2 5 2	1.10 0.51 1.10 1.19 0.65 20.21 75.50 1.24 5.53 24.48 2.58 0.69
GXRC1526	581138	6897830	248/-61	444	212	163	164	1	0.51
GXRC1527	581150	6898037	248/-67	446	146	77 82 107	78 85 108	1 3 1	1.87 2.70 1.07

Reported significant gold assay intersections (using a 0.5 g/t Au lower cut) are reported using 1m downhole intervals at plus 0.5 g/t gold, with up to 2m of internal dilution. Gold determination was by Fire Assay using a 50gm charge with AAS finishes and a lower limit of detection of 0.01 ppm Au. NSR denotes no significant results. True widths of the reported mineralised intersection remain unknown given the paucity of deeper drilling at this stage. Coordinates are MGA94-Z50. Abn hole denotes hole was abandoned due to excessive deviation away from its intended target.

Attachment 2: Anomalous Aircore drilling 4m composite intersections (>0.40 g/t Au over 4m or greater) within the Boogardie Basin - Mt Magnet, WA.

Hole Id	Easting	Northing	Az/Dip	RL	F/Depth (m)	From (m)	To (m)	Interval (m)	g/t Au
GXAC0608	578977	6895703	270/-60	436.0 000	67	12 36	16 40	4 4	0.43 0.71
GXAC0629	580195	6893299	270/-60	436	70	0	4	4	0.42
GXAC0631	580295	6893305	270/-60	436	70 Incl.	48 48	70 60	22 12	0.65 1.01
GXAC0646	580544	6892897	270/-60	427	78	28	32	4	0.58
GXAC0648	580122	6893909	270/-60	429	67	56	64	8	0.55
GXAC0657	580500	6896855	270/-60	444	79	72	79	7	0.58
GXAC0659	580153	6896953	270/-60	444	61	32	40	8	0.71
GXAC0665	580024	6897052	270/-60	444	72	16 24	32 28	16 4	1.63 5.63
GXAC0666	580056	6897053	270/-60	444	97	84	92	8	0.85
GXAC0668	580252	6897053	270/-60	444	73	28	32	4	0.41

Reported anomalous gold assay intersections are constrained using a 0.40 g/t Au lower cut for the 4m composite interval, with up to 4m of internal dilution. Gold determination was by Fire Assay using a 50gm charge with AAS finishes and a lower limit of detection of 0.01 ppm Au. NSR denotes no significant results. EOH denotes end of hole depth. True widths remain unknown at this stage of exploration. Coordinates are MGA94-Z50.

JORC Table 1 Report for Mt Magnet, RC and Aircore Drilling

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
*Sampling*	 Nature and quality of sampling (eg	 At Mt Magnet potential gold mineralised
*techniques*	cut channels, random chips, or	intervals are systematically sampled using
	specific specialised industry standard	industry standard 1m intervals, collected from
	measurement tools appropriate to the	reverse circulation (RC) drill holes and 4m
	minerals under investigation, such as	composites from reconnaissance Aircore
	down hole gamma sondes, or	traverses.
	handheld XRF instruments, etc). These	 Drill hole locations were designed to allow for
	examples should not be taken as	spatial spread across the interpreted
	limiting the broad meaning of	mineralised zone. All RC samples were
	sampling.	collected and riffle split to 3‐4kg samples on 1m
	 Include reference to measures taken	metre intervals. Aircore samples are speared
	to ensure sample representivity and	from piles on the ground and are composited
	the appropriate calibration of any	into 4m intervals before despatching to the
	measurement tools or systems used.	laboratory. Single metre bottom of hole Aircore
	 Aspects of the determination of	samples are collected for trace element
	mineralisation that are Material to	determinations
	the Public Report.	 Standard fire assaying was employed using a
	 In cases where ‘industry standard’	50gm charge with an AAS finish for all RC and
	work has been done this would be	Aircore chip samples. Trace element
	relatively simple (eg ‘reverse	determination was undertaken using a multi (4)
	circulation drilling was used to obtain	acid digest and ICP‐ AES finish.
	1 m samples from which 3 kg was
	pulverised to produce a 30 g charge
	for fire assay’). In other cases more
	explanation may be required, such as
	where there is coarse gold that has
	inherent sampling problems. Unusual
	commodities or mineralisation types
	(eg submarine nodules) may warrant
	disclosure of detailed information.
*Drilling*	 Drill type (eg core, reverse circulation,	 Drilling was completed using best practice 5 ¾”
*techniques*	open‐hole hammer, rotary air blast,	face sampling RC drilling hammers for all RC drill
	auger, Bangka, sonic, etc) and details	holes and 3” Aircore bits.
	(eg core diameter, triple or standard
	tube, depth of diamond tails, face‐
	sampling bit or other type, whether
	core is oriented and if so, by what
	_method, etc). _
*Drill sample*	 Method of recording and assessing	 Bulk RC and Aircore drill holes samples were
*recovery*	core and chip sample recoveries and	visually inspected by the supervising geologist
	results assessed.	to ensure adequate clean sample recoveries
	 Measures taken to maximise sample	were achieved. Note Aircore drilling while clean
	recovery and ensure representative	is not used in any resource estimation work.
	nature of the samples.	Anywet,contaminated orpoor sample returns

Criteria	JORC Code explanation	Commentary
	 Whether a relationship exists	are flagged and recorded in the database to
	between sample recovery and grade	ensure no sampling bias is introduced.
	and whether sample bias may have	 Zones of poor sample return both in RC and
	occurred due to preferential loss/gain	Aircore are recorded in the database and cross
	of fine/coarse material.	checked once assay results are received from
		the laboratory to ensure no misrepresentation
		of sampling intervals has occurred. Of note,
		excellent RC drill recovery is reported from all
		RC holes. Reasonable recovery is noted for all
		Aircore samples.
*Logging*	 Whether core and chip samples have	 All drill samples are geologically logged on site
	been geologically and geotechnically	by professional geologists. Details on the host
	logged to a level of detail to support	lithologies, deformation, dominant minerals
	appropriate Mineral Resource	including sulphide species and alteration
	estimation, mining studies and	minerals plus veining are recorded relationally
	metallurgical studies.	(separately) so the logging is interactive and not
	 Whether logging is qualitative or	biased to lithology.
	quantitative in nature. Core (or	 Drill hole logging is qualitative on visual
	costean, channel, etc) photography.	recordings of rock forming minerals and
	 The total length and percentage of	quantitative on estimates of mineral
	the relevant intersections logged.	abundance.
		 The entire length of each drill hole is
		geologicallylogged.
*Sub‐sampling*	 If core, whether cut or sawn and	 Duplicate samples are collected every 25th
*techniques*	whether quarter, half or all core	sample from the RC and Aircore chips.
*and sample*	taken.	 Dry RC 1m samples are riffle split to 3‐4kg as
*preparation*	 If non‐core, whether riffled, tube	drilled and dispatched to the laboratory. Any
	sampled, rotary split, etc and whether	wet samples are recorded in the database as
	sampled wet or dry.	such and allowed to dry before splitting and
	 For all sample types, the nature,	dispatching to the laboratory.
	quality and appropriateness of the	 All RC and Aircore chips are pulverized prior to
	sample preparation technique.	splitting in the laboratory to ensure
	 Quality control procedures adopted	homogenous samples with 85% passing 75um.
	for all sub‐sampling stages to	200gm is extracted by spatula that is used for
	maximise representivity of samples.	the 50gm charge on standard fire assays.
	 Measures taken to ensure that the	 All samples submitted to the laboratory are
	sampling is representative of the in	sorted and reconciled against the submission
	situ material collected, including for	documents. In addition to duplicates a high
	instance results for field	grade or low grade standard is included every
	duplicate/second‐half sampling.	25thsample, a controlled blank is inserted every
	 Whether sample sizes are appropriate	100thsample. The laboratory uses barren
	to the grain size of the material being	flushes to clean their pulveriser and their own
	sampled.	internal standards and duplicates to ensure
		industry best practice quality control is
		maintained.
		 The sample size is considered appropriate for
		the type, style, thickness and consistency of
		mineralization.
*Quality of*	 The nature, quality and	 The fire assay method is designed to measure
*assay data*	appropriateness of the assaying and	the totalgold in the RC and Aircore samples.

Criteria	JORC Code explanation	Commentary
*and*	laboratory procedures used and	The technique involves standard fire assays
*laboratory*	whether the technique is considered	using a 50gm sample charge with a lead flux
*tests*	partial or total.	(decomposed in the furnace). The prill is totally
	 For geophysical tools, spectrometers,	digested by HCl and HNO3acids before
	handheld XRF instruments, etc, the	measurement of the gold determination by
	parameters used in determining the	AAS. Aqua regia digest is considered adequate
	analysis including instrument make	for surface soil sampling.
	and model, reading times,	 No field analyses of gold grades are completed.
	calibrations factors applied and their	Quantitative analysis of the gold content and
	derivation, etc.	trace elements is undertaken in a controlled
	 Nature of quality control procedures	laboratory environment.
	adopted (eg standards, blanks,	 Industry best practice is employed with the
	duplicates, external laboratory	inclusion of duplicates and standards as
	checks) and whether acceptable levels	discussed above, and used by Ramelius as well
	of accuracy (ie lack of bias) and	as the laboratory. All Ramelius standards and
	precision have been established.	blanks are interrogated to ensure they lie within
		acceptable tolerances. Additionally, sample
		size, grind size and field duplicates are
		examined to ensure no bias to gold grades
		exists.
*Verification*	 The verification of significant	 Alternative Ramelius personnel have inspected
*of sampling*	intersections by either independent or	the RC and Aircore chips in the field to verify
*and assaying*	alternative company personnel.	the correlation of mineralised zones between
	 The use of twinned holes.	assay results and lithology, alteration and
	 Documentation of primary data, data	mineralization.
	entry procedures, data verification,	 All holes are digitally logged in the field and all
	data storage (physical and electronic)	primary data is forwarded to Ramelius’
	protocols.	Database Administrator (DBA) in Perth where it
	 Discuss any adjustment to assay data.	is imported into Datashed, a commercially
		available and industry accepted database
		software package. Assay data is electronically
		merged when received from the laboratory.
		The responsible project geologist reviews the
		data in the database to ensure that it is correct
		and has merged properly and that all the drill
		data collected in the field has been captured
		and entered into the database correctly.
		 The responsible geologist makes the DBA aware
		of any errors and/or omissions to the database
		and the corrections (if required) are corrected
		in the database immediately.
		 No adjustments or calibrations are made to any
		of the assay data recorded in the database.
		 No new mineral resource estimate is included in
		this report.
*Location of*	 Accuracy and quality of surveys used	 All drill hole collars are picked up using accurate
*data points*	to locate drill holes (collar and down‐	DGPS survey control. All down hole surveys are
	hole surveys), trenches, mine	collected using downhole Eastman single shot
	workings and other locations used in	surveyingtechniquesprovided bythe drilling

Criteria	JORC Code explanation	Commentary
	Mineral Resource estimation.	contractors.
	 Specification of the grid system used.	 All Mt Magnet holes are picked up in MGA94 –
	 Quality and adequacy of topographic	Zone 50 grid coordinates.
	control.	 DGPS RL measurements captured the collar
		surveys of the drill holes prior to the resource
		estimation work.
*Data spacing*	 Data spacing for reporting of	 All drilling was reconnaissance in nature,
*and*	Exploration Results.	looking for extensions to known mineralised
*distribution*	 Whether the data spacing and	systems. As such the drilling pattern is random
	distribution is sufficient to establish	and no true continuity has been established to
	the degree of geological and grade	date.
	continuity appropriate for the Mineral	 Given the limited understanding of the target
	Resource and Ore Reserve estimation	horizon infill drilling will be considered
	procedure(s) and classifications	necessary to help define the continuity of
	applied.	mineralisation.
	 Whether sample compositing has	 No sampling compositing has been applied
	been applied.	within keymineralised intervals.
*Orientation*	 Whether the orientation of sampling	 The RC drilling is completed orthogonal to the
*of data in*	achieves unbiased sampling of	interpreted strike of the target horizon. Aircore
*relation to*	possible structures and the extent to	drilling is completed on systematic MGA E‐W
*geological*	which this is known, considering the	traverses with holes nominally 50m apart.
*structure*	deposit type.	 No diamond drilling has been completed by
	 If the relationship between the drilling	Ramelius at this stage.
	orientation and the orientation of key
	mineralised structures is considered
	to have introduced a sampling bias,
	this should be assessed and reported
	if material.
*Sample*	 The measures taken to ensure sample	 Sample security is integral to Ramelius’
*security*	security.	sampling procedures. All bagged samples are
		delivered directly from the field to the assay
		laboratory in Perth, whereupon the laboratory
		checks the physically received samples against
		Ramelius’ sample submission/dispatch notes.
*Audits or*	 The results of any audits or reviews of	 Sampling techniques and procedures are
*reviews*	sampling techniques and data.	reviewed prior to the commencement of new
		work programmes to ensure adequate
		procedures are in place to maximize the sample
		collection and sample quality on new projects.
		No external audits have been completed to
		date.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
*Mineral*	 Type, reference name/number,	 The results reported in this report are on
*tenement and*	location and ownership including	granted Mining Leases (ML) 58/136 + 187 and
*land tenure*	agreements or material issues with	ML58/202 all owned 100% by Ramelius
*status*	third parties such as joint ventures,	Resources Limited. The Mt Magnet tenements
	partnerships, overriding royalties,	are located on pastoral/grazing leases.
	native title interests, historical sites,	Heritage surveys are completed prior to any
	wilderness or national park and	ground disturbing activities in accordance with
	environmental settings.	Ramelius’ responsibilities under the Aboriginal
	 The security of the tenure held at the	Heritage Act.
	time of reporting along with any	 At this time all the tenements are in good
	known impediments to obtaining a	standing. There are no known impediments to
	licence to operate in the area.	obtaininga licence to operate in the area.
*Exploration*	 Acknowledgment and appraisal of	 Exploration and mining by other parties has
*done by other*	exploration by other parties.	been reviewed and is used as a guide to
*parties*		Ramelius’ exploration activities. Previous
		parties have completed shallow RAB, Aircore
		drilling and RC drilling and shallow open pit and
		underground mining at Morning Star, plus
		drilling and open pit mining only at Hesperus,
		Milky Way, O’Meara, and Stellar plus
		geophysical data collection and interpretation.
		This report concerns only exploration results
		generated by Ramelius during the December
		quarter 2016 that were not previously reported
		to the ASX 19 December 2016.
*Geology*	 Deposit type, geological setting and	 The targeted mineralisation at Morning Star is
	style of mineralisation.	typical of orogenic structurally controlled
		Archaean gold lode systems. The mineralisation
		is controlled by anastomosing shear zones
		passing through competent rock units, brittle
		fracture and stockwork mineralization is
		common on the competent BIF or porphyry
		rock. The bedrock Morning Star mineralisation
		currently extends over 700m strike and dips
		steeply westwards and plunges 60deg to the
		southwest. The historically mined lodes are
		known to extend to at least 1km below surface.
*Drill hole*	 A summary of all information	 All the drill holes reported in this report have
*Information*	material to the understanding of the	the following parameters applied. All drill holes
	exploration results including a	completed, including holes with no significant
	tabulation of the following	results (as defined in the Attachments) are
	information for all Material drill holes:	reported in this announcement.
	`o` easting and northing of the drill	 Easting and northing are given in MGA94
	hole collar	coordinates as defined in the Attachments.
	`o` elevation or RL (Reduced Level –	 RL is AHD
	elevation above sea level in	 Dip is the inclination of the hole from the
	metres) of the drill hole collar	horizontal. Azimuth is reported in magnetic
	`o` dip and azimuth of the hole

Criteria	JORC Code explanation	Commentary
	`o` down hole length and interception	degrees as the direction the hole is drilled.
	depth	MGA94 and magnetic degrees vary by <10in the
	`o` hole length.	project area.
	 If the exclusion of this information is	 Down hole length is the distance measured
	justified on the basis that the	along the drill hole trace. Intersection length is
	information is not Material and this	the thickness of an anomalous gold intersection
	exclusion does not detract from the	measured along the drill hole trace.
	understanding of the report, the	 Hole length is the distance from the surface to
	Competent Person should clearly	the end of the hole measured along the drill
	explain why this is the case.	hole trace.
		 No results currently available from the
		exploration drilling are excluded from this
		report. Gold grade intersections >0.4 g/t Au
		within 4m Aircore composites or >0.5 g/t Au
		within single metre RC samples (with up to 4m
		of internal dilution) are considered significant in
		the broader mineralised host rocks
		 Gold grades greater than 0.5 g/t Au are
		highlighted where good continuity of higher
		grade mineralization is observed.
*Data*	 In reporting Exploration Results,	 The first gold assay result received from each
*aggregation*	weighting averaging techniques,	sample reported by the laboratory is tabled in
*methods*	maximum and/or minimum grade	the list of significant assays. Subsequent repeat
	truncations (eg cutting of high	analyses when performed by the laboratory are
	grades) and cut‐off grades are usually	checked against the original to ensure
	Material and should be stated.	repeatability of the assay results.
	 Where aggregate intercepts	 Weighted average techniques are applied to
	incorporate short lengths of high	determine the grade of the anomalous interval
	grade results and longer lengths of	when geological intervals less than 1m have
	low grade results, the procedure used	been sampled.
	for such aggregation should be stated	 Exploration drilling results are generally
	and some typical examples of such	reported using a 0.1 g/t Au lower cut‐off (as
	aggregations should be shown in	described above and reported in the
	detail.	Attachments) and may include up to 4m of
	 The assumptions used for any	internal dilution. Significant resource
	reporting of metal equivalent values	development drill hole assays are reported
	should be clearly stated.	greater than 0.5 or 8.0 g/t Au and are also
		reported separately. For example, the broader
		plus 1.0 g/t Au intersection of 6.5m @ 30.5 g/t
		Au contains a higher grade zone running plus 8
		g/t Au and is included as 4m @ 48.5 g/t Au.
		Where extremely high gold intersections are
		encountered as in this example, the highest
		grade sample interval (eg 1.0m @ 150 g/t Au) is
		also reported. All assay results are reported to
		3 significant figures in line with the analytical
		precision of the laboratory techniques
		employed.
		 No metal equivalent reporting is used or
		applied.

Criteria	JORC Code explanation	Commentary
*Relationship*	 These relationships are particularly	 The intersection length is measured down the
*between*	important in the reporting of	length of the hole and is not usually the true
*mineralisation*	Exploration Results.	width. When sufficient knowledge on the
*widths and*	 If the geometry of the mineralisation	thickness of the intersection is known an
*intercept*	with respect to the drill hole angle is	estimate of the true thickness is provided in the
*lengths*	known, its nature should be reported.	Attachment.
	 If it is not known and only the down	 The known geometry of the mineralisation with
	hole lengths are reported, there	respect to the drill holes reported in this report
	should be a clear statement to this	is not well constrained at this stage given the
	effect (eg ‘down hole length, true	variable orientation of ore shoots historically
	_width not known’). _	mined at MorningStar.
*Diagrams*	 Appropriate maps and sections (with	 Drillhole plan and sectional views of Morning
	scales) and tabulations of intercepts	Star/Black Cat South pits have been provided
	should be included for any significant	previously. Drilling into the Eddie Carson Lode
	discovery being reported These should	is still too broadly spaced to create any
	include, but not be limited to a plan	meaningful interpretations/sections at this
	view of drill hole collar locations and	stage, hence true widths can’t be determined.
	appropriate sectional views.	Given the interpreted steep dips of the
		mineralisation at Morning Star the long
		sectional view presentation is currently
		considered the best 2‐D representation of the
		known spatial extent of the mineralization
		intersected to date.
*Balanced*	 Where comprehensive reporting of all	 All drill holes completed to date are reported in
*reporting*	Exploration Results is not practicable,	this report and all material intersections as
	representative reporting of both low	defined) are reported.
	and high grades and/or widths should
	be practiced to avoid misleading
	reporting of Exploration Results.
*Other*	 Other exploration data, if meaningful	 No other exploration data that has been
*substantive*	and material, should be reported	collected is considered meaningful and material
*exploration*	including (but not limited to):	to this report.
*data*	geological observations; geophysical
	survey results; geochemical survey
	results; bulk samples – size and
	method of treatment; metallurgical
	test results; bulk density,
	groundwater, geotechnical and rock
	characteristics; potential deleterious
	or contaminating substances.
*Further work*	 The nature and scale of planned	 Future exploration includes infill RC and further
	further work (eg tests for lateral	step out drilling below and along strike of the
	extensions or depth extensions or	reported intersections at Morning Star, Black
	large‐scale step‐out drilling).	Cat South and Eddie Carson to better define the
	 Diagrams clearly highlighting the	extent of the mineralization discovered to date.
	areas of possible extensions, including	Deep exploratory diamond drilling into the
	the main geological interpretations	Morning Star Deeps is also scheduled for the
	and future drilling areas, provided this	March quarter 2017.
	information is not commercially
	sensitive.

Appendix A – JORC Table 1 Criteria Vivien Gold Deposit

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
*Sampling*	 Nature and quality of sampling (e.g.	The deposit was sampled using surface Reverse
*techniques*	cut channels, random chips, or	Circulation (RC) and diamond drill holes (DD) on
	specific specialised industry standard	a nominal 25m x 25m grid spacing. Drilling
	measurement tools appropriate to the	comprises of campaigns by a number of
	minerals under investigation, such as	companies: Asarco Australia Ltd, Wiluna Mines
	down hole gamma sondes, or	Ltd, Australian Gold Fields, Agnew Gold Mining
	handheld XRF instruments, etc).	Company (AGMC) and Ramelius Resources Ltd
	These examples should not be taken	(RMS). Holes were generally angled towards
	as limiting the broad meaning of	grid west at varying angles to optimally intersect
	sampling.	the mineralised zones. 24 new NQ diamond
	 Include reference to measures taken	holes were drilled from available UG positions
	to ensure sample representivity and	and 614 development ore faces sampled
	the appropriate calibration of any	All sampling by conventional gold industry
	measurement tools or systems used.	drilling methods.
	 Aspects of the determination of	Diamond core was NQ size sampled on
	mineralisation that are Material to the	geological intervals (0.3 m to 1.5 m); cut into half
	Public Report.	core to give sample weights under 3 kg.
	 In cases where ‘industry standard’	Samples were crushed, dried and pulverised
	work has been done this would be	(total prep) to produce a sub sample for analysis
	relatively simple (e.g. ‘reverse	by 1kg 100µm Screen Fire Assay (SFA) or 50 g
	circulation drilling was used to obtain	Fire Assay (FA) for sample outside the
	1 m samples from which 3 kg was	mineralised zone. Previous drilling programmes
	pulverised to produce a 30 g charge	used FA or SFA analytical techniques. RC
	for fire assay’). In other cases more	drilling was used to obtain 1m samples from
	explanation may be required, such as	which 2-3 kg was pulverised (total prep) to
	where there is coarse gold that has	produce a sub sample for assaying by 50 g FA.
	inherent sampling problems. Unusual	Face sampling involved collecting representative
	commodities or mineralisation types	chips sample from geologically defined 0.2-2.0m
	(e.g. submarine nodules) may warrant	wide intervals across the face, including wallrock
	disclosure of detailed information.	zones. Duplicate samples are frequently
		collected from highgrade sulphidic lode zones
*Drilling*	 Drill type (e.g. core, reverse	Surface drillholes comprise 70 RC and 170
*techniques*	circulation, open-hole hammer, rotary	Diamond holes. Diamond holes are NQ size and
	air blast, auger, Bangka, sonic, etc)	normally have RC precollars. Approximately
	and details (e.g. core diameter, triple	80% of drilling was done post 2002 and deeper
	or standard tube, depth of diamond	holes are mostly Diamond (12 by Ramelius) in
	tails, face-sampling bit or other type,	2013.
	whether core is oriented and if so, by	24 UG NQ core holes were completed in 2016
	_what method, etc). _
*Drill sample*	 Method of recording and assessing	RMS Diamond core recoveries were recorded
*recovery*	core and chip sample recoveries and	during core logging. Diamond drilling is close to
	results assessed.	100%
	 Measures taken to maximise sample	Diamond core is used in preference to test the
	recovery and ensure representative	narrow vein and ensure a true representation of
	nature of the samples.	vein width.
	 Whether a relationship exists between	No indication of sample bias is evident or has
	sample recovery and grade and	been established
	whether sample bias may have
	occurred due to preferential loss/gain
	of fine/coarse material.
*Logging*	 Whether core and chip samples have	All drillholes are geologically logged on site by
	been geologically and geotechnically	RMS geologists. Details on the host lithologies,
	logged to a level of detail to support	deformation, dominant minerals including
	appropriate Mineral Resource	sulphide species and alteration minerals plus
	estimation, mining studies and	veiningare recorded relationally (separately).

	metallurgical studies.	Drillhole logging of RC chips is qualitative on
	 Whether logging is qualitative or	visual recordings of rock forming minerals and
	quantitative in nature. Core (or	estimates of mineral abundance.
	costean, channel, etc) photography.	The entire length of drillholes are geologically
	 The total length and percentage of the	logged
	relevant intersections logged.	Development faces are mapped and
		photographed providing an absolute definition of
		lode width
*Sub-*	 If core, whether cut or sawn and	RMS DD core was sawn and half core sampled
*sampling*	whether quarter, half or all core taken.	to 1m or geologically determined boundaries
*techniques*	 If non-core, whether riffled, tube	(min 0.3m). All earlier DD drilling was by same
*and sample*	sampled, rotary split, etc and whether	method. Earlier RC samples and pre-collars
*preparation*	sampled wet or dry.	were sampled at 1m intervals and riffle split to
	 For all sample types, the nature,	3kg. UG DD core samples were whole core
	quality and appropriateness of the	sampled or sawn & half core sampled
	sample preparation technique.	All samples prepared following industry best
	 Quality control procedures adopted for	practise. Samples were dried then homogenised
	all sub-sampling stages to maximise	by pulverisation to 85% passing 75µm before
	representivity of samples.	sub-sampling and assay. Sample preparation
	 Measures taken to ensure that the	and assay was carried out by commercial Perth
	sampling is representative of the in	or Kalgoorlie based laboratories. Earlier
	situ material collected, including for instance results for field	sampling was conducted using similar techniques which are considered appropriate for
	duplicate/second-half sampling.	the style of mineralisation.
	 Whether sample sizes are appropriate	The sample sizes are considered appropriate to
	to the grain size of the material being	represent Vivien mineralisation.
	_sampled. _
*Quality of*	 The nature, quality and	Assays have been generated using Fire Assay
*assay data*	appropriateness of the assaying and	techniques and in some earlier drilling Screen
*and*	laboratory procedures used and	Fire Assay. The assay method is appropriate
*laboratory*	whether the technique is considered	and Vivien ore is not especially nuggetty. All
*tests*	partial or total.	jobs are accompanied by regular pulp standards
	 For geophysical tools, spectrometers,	No field analyses of gold grades are completed.
	handheld XRF instruments, etc, the	Quantitative analysis of the gold content and
	parameters used in determining the	trace elements is undertaken in a controlled
	analysis including instrument make	laboratory environment.
	and model, reading times, calibrations	Industry best practice is employed with the
	factors applied and their derivation,	inclusion of duplicates and standards as
	etc.	discussed above, and used by Ramelius as well
	 Nature of quality control procedures	as the laboratory. All Ramelius standards and
	adopted (e.g. standards, blanks,	blanks are interrogated to ensure they lie within
	duplicates, external laboratory checks)	acceptable tolerances.
	and whether acceptable levels of
	accuracy (i.e. lack of bias) and
	_precision have been established. _
*Verification*	 The verification of significant	Alternative Ramelius personnel have inspected
*of sampling*	intersections by either independent or	the RC chips in the field to verify the correlation
*and*	alternative company personnel.	of mineralised zones between assay results and
*assaying*	 The use of twinned holes.	lithology, alteration and mineralisation.
	 Documentation of primary data, data	All holes are digitally logged in the field and all
	entry procedures, data verification,	primary data is forwarded to Ramelius’
	data storage (physical and electronic)	Database Administrator (DBA) in Perth where it
	protocols.	is imported into Datashed. Assay data is
	 Discuss any adjustment to assay data.	electronically merged when received from the
		laboratory. The responsible project geologist
		reviews the data in the database to ensure that it
		is correct and has merged properly and that all
		the drill data collected in the field has been
		captured and entered into the database
		correctly.

		The responsible geologist makes the DBA
		aware of any errors and/or omissions to the
		database and the corrections (if required) are
		applied in the database immediately.
		No adjustments or calibrations are made to any
		of the assaydata recorded in the database.
*Location of*	 Accuracy and quality of surveys used	Hole collars are picked up using accurate DGPS
*data points*	to locate drill holes (collar and down-	survey control. All downhole surveys are
	hole surveys), trenches, mine	collected using downhole Gyro or digital
	workings and other locations used in	magnetic surveying techniques provided by the
	Mineral Resource estimation.	drilling contractors.
	 Specification of the grid system used.	All holes are picked up in MGA94 – Zone 51 grid
	 Quality and adequacy of topographic	coordinates.
	control.	Topographic control is of high quality and
		adequate accuracy.
		UG Face samples are located orthogonal to
		surveyed UG development drives. The start
		point of each face is measured from a known
		survey point.
*Data spacing*	 Data spacing for reporting of	Drillholes were planned on a nominal 25m
*and*	Exploration Results.	(northing) sections and 10 – 30m eastings to
*distribution*	 Whether the data spacing and	adequately cover the core mineralised zones.
	distribution is sufficient to establish the	Drill locations however are partly restricted by
	degree of geological and grade	the existing pit and UG development.
	continuity appropriate for the Mineral	UG face sample traverses are spaced at 3m
	Resource and Ore Reserve estimation	intervals along 20m vertical development levels
	procedure(s) and classifications	This spacing is considered adequate to define
	applied.	the geological and grade continuity of
	 Whether sample compositing has	mineralisation
	been applied.	The UG drilling is fans of holes from available
		locations. The fans are designed to intercept the
		vein as orthogonally as possible
		No sampling compositing has been applied
		within keymineralised intervals
*Orientation*	 Whether the orientation of sampling	The drilling is generally drilled orthogonal to the
*of data in*	achieves unbiased sampling of	interpreted strike of the target horizon. However,
*relation to*	possible structures and the extent to	a number of holes have varied directions.
*geological*	which this is known, considering the	No drilling orientation and/or sampling bias is
*structure*	deposit type.	evident
	 If the relationship between the drilling orientation and the orientation of key	Vivien uses MGA94 (Zone 51). Data transformed to local north-south grid for
	mineralised structures is considered to	resource modelling. Accuracy of drill hole
	have introduced a sampling bias, this	collars, open-pit and topographic features is +/-
	should be assessed and reported if	1m. A topographic model is available for the site
	material.	with +/-1m accuracy.
*Sample*	 The measures taken to ensure sample	All bagged RC / DDH / Face samples are
*security*	security.	delivered from the field to the assay laboratories
		in Perth and Kalgoorlie, whereupon the
		laboratory checks the physically received
		samples against Ramelius’ sample
		submission/dispatch notes and confirmations
		sent.
*Audits or*	 The results of any audits or reviews of	Sampling techniques and procedures are
*reviews*	sampling techniques and data.	reviewed prior to the commencement of new
		work programmes to ensure adequate
		procedures are in place to maximise the sample
		collection and sample quality on new projects.
		No external audits have been completed to date.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
*Mineral*	 Type, reference name/number,	The results presented in this report are on
*tenement*	location and ownership including	granted Mining Lease (ML) 36/34 owned 100%
*and land*	agreements or material issues with	by Ramelius Resources Limited. The tenement
*tenure status*	third parties such as joint ventures,	is located on pastoral/grazing leases.
	partnerships, overriding royalties,	At this time all the tenements are in good
	native title interests, historical sites,	standing. There are no known impediments to
	wilderness or national park and	obtaining a licence to operate in the area.
	environmental settings.
	 The security of the tenure held at the
	time of reporting along with any known
	impediments to obtaining a licence to
	_operate inthe area. _
*Exploration*	 Acknowledgment and appraisal of	Exploration by other parties has been reviewed
*done by*	exploration by other parties.	and is used as a guide to Ramelius’ exploration
*other parties*		activities. Previous parties have completed
		shallow RAB, RC drilling and shallow open pit
		miningat Vivien.
*Geology*	 Deposit type, geological setting and	The mineralisation at Vivien is a typical orogenic
	style of mineralisation.	structually controlled Archaean gold lode
		system. It is a steeply dipping narrow quartz vein
		hosted within a dolerite/gabbro unit. It has strong
		geological continuity and is well understood from
		diamond drill core and historic mining and
		investigation. Mineralisation is related to a
		secondary phase of quartz veining with
		associated sulphide mineralisation. Vein width
		may relate to flexures in the lode and current
		interpretation is that several higher grade shoots
		plunge shallowly to the NE within the overall
		lode.
		Heterogeneity work by Snowden consultants
		found that coarse gold (>100µm) was readily
		identifiable in polished thin sections and usually
		less than 300µm. Coarse grained visible gold is
		often associated with the presence of pyrrhotite
		and arsenopyrite.
		The deposit is sub-vertical in geometry, with
		clear boundaries which define the mineralised
		domains. Infill drilling has supported and refined
		the model and the current interpretation is thus
		considered to be robust.
		The position and continuity of the Vivien quartz
		vein has been used as the primary interpretation
		factor defined by grade data and geological logs.
		Variography was used to determine the plunge
		of the high grade shoots within the vein
		mineralisation.
		The main factors affecting continuity are the
		position, shape and thickness of the main quartz
		vein.
*Drill hole*	 A summary of all information material	All the drill holes reported in recent releases
*Information*	to the understanding of the	have been included the following information.
	exploration results including a tabulation of the following information	All drillholes reported, including those with no significant results.
	for all Material drill holes:	Easting and northing in MGA94 (Zone 51)
	`o` easting and northing of the drill	coordinates
	hole collar	RL is AHD

Criteria	JORC Code explanation	Commentary
	`o` elevation or RL (Reduced Level –	Dip is the inclination of the hole from the
	elevation above sea level in	horizontal. Azimuth is reported in magnetic
	metres) of the drill hole collar	degrees as the direction the hole is drilled.
	`o` dip and azimuth of the hole	MGA94 and magnetic degrees vary by ≈1°in the
	`o` down hole length and interception	project area
	depth	Down hole length is the distance measured
	`o` hole length.	along the drill hole trace. Intersection length is
	 If the exclusion of this information is	the thickness of an anomalous gold intersection
	justified on the basis that the	measured along the drill hole trace.
	information is not Material and this	Hole length is the measured distance along the
	exclusion does not detract from the	drill hole trace.
	understanding of the report, the	No information is excluded
	Competent Person should clearly
	_explain why this is the case. _
*Data*	 In reporting Exploration Results,	Weighted average techniques are applied to
*aggregation*	weighting averaging techniques,	determine the grade of the anomalous interval
*methods*	maximum and/or minimum grade	when geological intervals less than 1m have
	truncations (e.g. cutting of high	been sampled.
	grades) and cut-off grades are usually	Gold intersections are generally reported for the
	Material and should be stated.	width of the geologically defined quartz-lode
	 Where aggregate intercepts	intercept. This often includes sub-grade material
	incorporate short lengths of high	within the lode
	grade results and longer lengths of	No metal equivalent reporting is used or
	low grade results, the procedure used	required.
	for such aggregation should be stated
	and some typical examples of such
	aggregations should be shown in
	detail.
	 The assumptions used for any
	reporting of metal equivalent values
	_should be clearly stated. _
*Relationship*	 These relationships are particularly	The intersection length is measured down the
*between*	important in the reporting of	length of the hole and is not usually the true
*mineralisatio*	Exploration Results.	width
*n widths and*	 If the geometry of the mineralisation	True widths are variable given the varied drill
*intercept*	with respect to the drill hole angle is	angles. For the majority of intercepts true widths
*lengths*	known, its nature should be reported.	are around 60-80% of reported intervals.
	 If it is not known and only the down
	hole lengths are reported, there
	should be a clear statement to this
	effect (e.g. ‘down hole length, true
	_width not known’). _
*Diagrams*	 Appropriate maps and sections (with	Representative maps and sections are shown
	scales) and tabulations of intercepts	attached
	should be included for any significant
	discovery being reported These
	should include, but not be limited to a
	plan view of drill hole collar locations
	_and appropriate sectional views. _
*Balanced*	 Where comprehensive reporting of all	All drillhole intercepts completed by RMS were
*reporting*	Exploration Results is not practicable,	reported in previous ASX releases in 2016
	representative reporting of both low and high grades and/or widths should
	be practiced to avoid misleading
	_reporting of Exploration Results. _
*Other*	 Other exploration data, if meaningful	No other exploration data that has been
*substantive*	and material, should be reported	collected is considered meaningful and material
	_including (but not limited to): _	to this report

Criteria	JORC Code explanation	Commentary
*exploration*	geological observations; geophysical
*data*	survey results; geochemical survey
	results; bulk samples – size and
	method of treatment; metallurgical test
	results; bulk density, groundwater,
	geotechnical and rock characteristics;
	potential deleterious or contaminating
	_substances. _
*Further work*	 The nature and scale of planned	Future exploration includes further step out
	further work (e.g. tests for lateral	drilling below and along strike of the reported
	extensions or depth extensions or	intersections at Vivien to better define the extent
	large-scale step-out drilling).	of the mineralisation discovered to date.
	 Diagrams clearly highlighting the	Further drilling will be from UG development.
	areas of possible extensions,	Ongoing face samples will be collected as
	including the main geological	development of ore drives progresses.
	interpretations and future drilling
	areas, provided this information is not
	_commercially sensitive. _

Section 3 Estimation and Reporting of Mineral Resources

Criteria	JORC Code explanation	Commentary
*Database*	 Measures taken to ensure that data	RMS employs an SQL central database using
*integrity*	has not been corrupted by, for	Datashed information management software.
	example, transcription or keying	User access to the database is regulated by
	errors, between its initial collection	specific user permissions. Only specific users
	and its use for Mineral Resource	can overwrite data. Data collection uses Field
	estimation purposes.	Marshall software with fixed templates and
	 Data validation procedures used.	lookup tables for collecting field data
		electronically. A number of validation checks
		occur upon data upload to the main database.
		Older data appears to have used similar
		methods but cannot be fullyvalidated.
*Site visits*	 Comment on any site visits	The Competent Person is a full time employee
	undertaken by the Competent Person and the outcome of those visits.	of Ramelius Resources and has made frequent site visits to Vivien.
	 If no site visits have been undertaken
	indicate why this is the case.
*Geological*	 Confidence in (or conversely, the	Confidence in the geological interpretation is
*interpretation*	uncertainty of) the geological	high and has been confirmed by detailed
	interpretation of the mineral deposit.	mapping and exposure in via underground
	 Nature of the data used and of any	mining
	assumptions made.	Data used includes drilling assays & logging
	 The effect, if any, of alternative	from broader spaced exploration/resource
	interpretations on Mineral Resource	drilling and high density UG face sampling
	estimation.	No alternate interpretation required
	 The use of geology in guiding and	Geology forms a significant component in the
	controlling Mineral Resource	Mineral Resource modelling & estimation.
	estimation.
	 The factors affecting continuity both
	of grade and geology.
*Dimensions*	 The extent and variability of the	Narrow vein/lode style. Strike NNE (026°), dip
	Mineral Resource expressed as	at 70-80° to ESE. Average lode width

	length (along strike or otherwise),	approximately 2.5 m, mostly ranging between
	plan width, and depth below surface	1- 6m. Established strike length of 600m and
	to the upper and lower limits of the	down-dip extent of 400m.
	Mineral Resource.
*Estimation*	 The nature and appropriateness of	The geological interpretation of the lode
*and modelling*	the estimation technique(s) applied	equates to the estimation domain. A
*techniques*	and key assumptions, including	comparison of the resource model wireframes
	treatment of extreme grade values,	to the block model volume is completed as part
	domaining, interpolation parameters	of the validation process.
	and maximum distance of	Grade within the domain is estimated by
	extrapolation from data points. If a	geological software using Inverse Distance
	computer assisted estimation method	Squared and Ordinary Kriging methods within
	was chosen include a description of	hard bounded domains. Final grade is the
	computer software and parameters	topcut OK estimate. The ID² estimate is used to
	used.	validate the OK grade.
	 The availability of check estimates,	Only gold is estimated
	previous estimates and/or mine	No deleterious elements present
	production records and whether the	Parent cell of 6.25mN x 5mE x 5mRL with sub-
	Mineral Resource estimate takes	cells to minimum of 3.125mN x 1mE x 1mRL
	appropriate account of such data.	ratio. Parent cell estimation only. The sub-cell
	 The assumptions made regarding	size is small to allow for narrow sections of the
	recovery of by-products.	lode to be defined.
	 Estimation of deleterious elements or	Domains are geostatistically analysed and
	other non-grade variables of	assigned appropriate search directions, top-
	economic significance (e.g. sulphur	cuts and estimation parameters. The search is
	for acid mine drainage	aligned with the observed geological strike and
	characterisation).	dip of the lode. The variography study helps
	 In the case of block model	determine plunge within the lode.
	interpolation, the block size in relation	Samples were composited within ore domains
	to the average sample spacing and	to 1m lengths.
	the search employed.	Top cuts were applied to domains after review
	 Any assumptions behind modelling of	of grade population characteristics. A cut of
	selective mining units.	90g/t was applied. No significant bias is
	 Any assumptions about correlation	observed between the face samples and the
	between variables.	drill samples.
	 Description of how the geological	Validation includes visual comparison against
	interpretation was used to control the	drillhole grades; swath plots of northing and
	resource estimates.	elevation comparisons; and comparative
	 Discussion of basis for using or not	statistics of composites against block model
	using grade cutting or capping.	grades.
	 The process of validation, the
	checking process used, the
	comparison of model data to drill hole
	data, and use of reconciliation data if
	available.
*Moisture*	 Whether the tonnages are estimated	Tonnages are estimated on a dry basis
	on a dry basis or with natural
	moisture, and the method of
	determination of the moisture content.
*Cut-off*	 The basis of the adopted cut-off	All lode material within longsectionally defined
*parameters*	grade(s) or quality parameters	category/grade areas is reported including
	applied.	minor internal low-grade zones.
*Mining factors*	 Assumptions made regarding	Resources are reported on the assumption of
or	possible mining methods, minimum	mining by conventional underground mining
*assumptions*	mining dimensions and internal (or, if	methods. Block size and estimation
	applicable, external) mining dilution. It is always necessary as part of the	methodology were selected to generate a model appropriate for current underground sub-
	process of determining reasonable	level open stope mining practices at Vivien.

	prospects for eventual economic	Productivity and economics are dependent on a
	extraction to consider potential mining	minimum mining width of around 2.5m (stope)
	methods, but the assumptions made	and 4.5m (development).
	regarding mining methods and
	parameters when estimating Mineral
	Resources may not always be
	rigorous. Where this is the case, this
	should be reported with an
	explanation of the basis of the mining
	assumptions made.
*Metallurgical*	 The basis for assumptions or	A number of metallurgical tests have been
*factors or*	predictions regarding metallurgical	previously carried out and show the deposit is
*assumptions*	amenability. It is always necessary as	free milling, has high gravity recovery (+50%)
	part of the process of determining	and high overall recovery (95%).
	reasonable prospects for eventual	Attributed mill recovery to date is 96.9%
	economic extraction to consider
	potential metallurgical methods, but
	the assumptions regarding
	metallurgical treatment processes
	and parameters made when reporting
	Mineral Resources may not always
	be rigorous. Where this is the case,
	this should be reported with an
	explanation of the basis of the
	metallurgical assumptions made.
*Environmental*	 Assumptions made regarding	All Mining Approvals and permitting are in
*factors or*	possible waste and process residue	place.
*assumptions*	disposal options. It is always	Dewatering will be by pipeline to Gold Fields
	necessary as part of the process of determining reasonable prospects for	Agnew mill, 8km away.
	eventual economic extraction to
	consider the potential environmental
	impacts of the mining and processing
	operation. While at this stage the
	determination of potential
	environmental impacts, particularly
	for a greenfields project, may not
	always be well advanced, the status
	of early consideration of these
	potential environmental impacts
	should be reported. Where these
	aspects have not been considered
	this should be reported with an
	explanation of the environmental
	assumptions made.
*Bulk density*	 Whether assumed or determined. If	Gold Fields undertook numerous air/water
	assumed, the basis for the	density measurements from core samples.
	assumptions. If determined, the	Density assignment for the 2007 resource by
	method used, whether wet or dry, the	Gold Fields included a variable ore density
	frequency of the measurements, the	based on grade, with density ranging from 2.61
	nature, size and representativeness	to 2.91. This reflects the relationship between
	of the samples.	higher grade samples containing more
	 The bulk density for bulk material	sulphides therefore a greater specific gravity.
	must have been measured by	In the most recent model densities of 2.80 to
	methods that adequately account for	3.20 were assigned based on grade ranges to
	void spaces (vugs, porosity, etc),	reflect higher sulphide contents and tonnage
	moisture and differences between	reconciliations seen in recent mining.
	rock and alteration zones within the	Density values for weathered rocktypes are
	deposit.	assumed,however this material is a relatively

	 Discuss assumptions for bulk density		minor component of the resource.
	estimates used in the evaluation
	process of the different materials.
*Classification*	 The basis for the classification of the		The resource has been classified as Indicated
	Mineral Resources into varying		or Inferred category’s based on geological
	confidence categories.		continuity, drillhole spacing, search pass and
	 Whether appropriate account has		kriging variance. The resource is classified as
	been taken of all relevant factors (ie		Measured within the recently mined and face
	relative confidence in tonnage/grade		sampled areas.
	estimations, reliability of input data,		The resource classification accounts for all
	confidence in continuity of geology		relevant factors
	and metal values, quality, quantity		The classification reflects the Competent
	and distribution of the data).		Person’s view
	 Whether the result appropriately
	reflects the Competent Person’s view
	of the deposit.
*Audits or*	 The results of any audits or reviews		The Ramelius 2014 Vivien Resource was
*reviews*	of Mineral Resource estimates.		reviewed by Optiro Pty Ltd. No fatal flaws were
			identified in the technical review of the data
			quality, interpretation approach and estimation
			/classification process of the Resource
			estimate.
			The latest model was not audited.
*Discussion of*	 Where appropriate a statement of the		The accuracy and confidence in the Resource
*relative*	relative accuracy and confidence		is very high given the deposit style, quality of
*accuracy/*	level in the Mineral Resource		drilling and sampling, both historic and new and
*confidence*	estimate using an approach or		recent mining experience and reconciliations.
	procedure deemed appropriate by the Competent Person. For example, the		Comparison of recent mining data shows a good reconciliation with the Resource model.
	application of statistical or
	geostatistical procedures to quantify
	the relative accuracy of the resource
	within stated confidence limits, or, if
	such an approach is not deemed
	appropriate, a qualitative discussion
	of the factors that could affect the
	relative accuracy and confidence of
	the estimate.
	 The statement should specify
	whether it relates to global or local
	estimates, and, if local, state the
	relevant tonnages, which should be
	relevant to technical and economic
	evaluation. Documentation should
	include assumptions made and the
	procedures used.
	 These statements of relative
	accuracy and confidence of the
	estimate should be compared with
	production data, where available.

AI assistant

RAMELIUS RESOURCES LIMITED — Interim / Quarterly Report 2017

65718_rns_2017-01-30_02e94926-3c5b-46ef-a326-951dc611ecc6.pdf

For Immediate Release 31 January 2017

December 2016 Quarterly Activities Report

HIGHLIGHTS – OPERATIONS, DEVELOPMENT & EXPLORATION

Vivien

PRODUCTION GUIDANCE – MARCH 2017 QUARTER

HIGHLIGHTS – CORPORATE

ABOUT RAMELIUS

PRODUCTION SUMMARY

OPERATIONS

Mt Magnet Gold Mine (WA)

Kathleen Valley Gold Mine (WA)

Vivien Gold Mine (WA)

Vivien Resource Update

Mineral Resource Commentary

PRODUCTION TARGETS

PROJECT DEVELOPMENT

Water Tank Hill Project (WA)

Milky Way Project/Stellar/Stellar West Project (WA)

EXPLORATION SUMMARY

Mt Magnet Gold Project (WA)

MORNING STAR DRILLING

BLACK CAT SOUTH DRILLING

HESPERUS EAST DRILLING

MORNING STAR DEEPS DRILLING

BOOGARDIE BASIN – AIRCORE DRILLING

ZEUS PROSPECT

ARTEMIS PROSPECT

BUNDY FLATS PROSPECT

Tanami Joint Venture (NT) – Ramelius 85%

Coogee Gold Project (WA)

CORPORATE & FINANCE

FORWARD LOOKING STATEMENTS

COMPETENT PERSONS

JORC Table 1 Report for Mt Magnet, RC and Aircore Drilling

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

Appendix A – JORC Table 1 Criteria Vivien Gold Deposit

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

Section 3 Estimation and Reporting of Mineral Resources

More from RAMELIUS RESOURCES LIMITED

RAMELIUS RESOURCES LIMITED Interim / Quarterly Report 2017