RAMELIUS RESOURCES LIMITED — Investor Presentation 2011

Aug 2, 2011

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Ramelius Resources Limited ASX:RMS Diggers & Dealers 2011

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DISCLAIMER

This presentation contains certain forward looking statements with respect to Ramelius’ financial condition, results of operations and other matters that are subject to various risks and uncertainties. Actual results, performance or achievements could be significantly different from those expressed in or implied by those forward looking statements. Such forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that are beyond the control of Ramelius that may cause actual results to differ materially from those expressed in the forward looking statements contained herein.

Ramelius Resources Limited gives no warranties in relation to the information and statements within this presentation.

EXPLORATION RESULTS

The Information in this report that relates to Exploration Results is based on information compiled by Kevin Seymour.

Kevin Seymour is a Member of the Australian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity they have undertaken to qualify as a Competent Person. Kevin Seymour is a full-time employee of Ramelius Resources Limited and consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 2

Ramelius Corporate Information

Corporate Details	Corporate Details
ASX Code:	RMS
Ordinary Shares on Issue:	291M
Market Capitalisation:	~A$400M
12 month share price range:	$0.39-1.60
Cash and Gold on Hand:	A$99M

Information	Information
Directors & Shareholders
Ch i a rman:	R b t K d o er enne y
Managing Director:	Ian Gordon
Non Executive Director:	Reg Nelson
Non Executive Director:	Kevin Lines
Significant Shareholder:	Sprott 17.6%

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RMS WA Gold Producers Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 3

Company Overview

	Company Overview	Company Overview	Company Overview
	Wattle Dam (WA) [Gold - Production]	�Hi h G d G ld P d ti g ra e o ro uc on �Cash Costs less than A$350 oz �Mine Life extended through to Dec 2013 �Open at depth – new drillingcommenced
	Mt Magnet (WA) [Gold – Development]	�Project development underway �JORC Resources of 3m oz �Initial Production of 520,000 oz over 6years
		�Mining to commence in August 2011 �A$5m explorationprogram commenced
	Strong Capital Position	�A$99m in cash and gold on hand (30 June)
		�No debt �Mt Magnet fully funded �Cashgenerates corporate opportunities
	Pipeline of new Projects	�Mt Windsor JV – N.Qld �Miranda JV’s - Nevada
	Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 4

Project Locations

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 5

Achievements FY 2010-11

• Share Price increase of over 3x in FY 2010-11 ( 39c to $ 1.28 )

• Record production of 100,000 oz of gold from Wattle Dam

• Record operating cash flow of A$116m on gold revenue A$148m

• Cash operating cost of A$320 per oz for FY 2010 2011

• Increased Wattle Dam mine life by 2.5 years to December 2013

• Completed acquisition of Mt Magnet project and decision to mine

• • ~ -

• Pre tax profit of A$90m for Financial Year 2010 11

• Returned A$20m to shareholders through capital return and dividend

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 6

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Production Profile

• Production increasing to 165,000 oz per annum by 2012-13

• � P o en t ti a l t o ncrease pro i d uc ti on o over t 200 , 000 oz per annum:

• through drilling success at Mt Magnet

• � increasing Mt Magnet plant to 2.4mtpa

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Production (Ounces Au)
180000
160000
140000
120000
100000
Mt Magnet
80000
Wattle Dam
60000
40000
20000
0
2011‐12 2012‐13 2013‐14
Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 7
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Projects – Wattle Dam (100% owned)

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• Highest grade gold mine in Australia

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• Underground mine located 25km SW of Kambalda

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• Structurally controlled gold deposit within ultramafic belt

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• Extremely high nugget effect which creates significant grade estimation issues

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• Production 10-15,000t per month of ~20 g/t ore

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• Ore trucked ~65km to 100% owned Burbanks CIL treatment plant

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 8

Wattle Dam - Mining

Pit	�Production of 100,000 ounces in FY 2010-11	�Production of 100,000 ounces in FY 2010-11
Blocks A & B near completion with ~180,000 oz	�Block A & B mined at ~20 g/t Au (1800 ounces vertical metre)
production over 100m vertically	�Total ounces per	vertical metre
	including the open pit is 1300 ovm
Blocks C & D Decline	�Future mining will be from the base
mining to December 2013	of Block D up to base of Block B �Decline is close to the base of
	Block D with stoping to commence in November
	�All capital development for next 2.5
Open at depth 360m below surface	years mining nearing completion
Ramelius Resources Limited: Diggers & Dealers Presentation 2011	Page 9

Wattle Dam - Production

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• Wattle Dam has produced over 210,000 oz of gold since 2006

• Open Pit produced 51,000 oz (2006-2009)

• UG Production of 60,000 oz in 2009/10

• UG Production of 100,000 oz in 2010-11

• � Expecting production of 80,000 oz 2011-12

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 10

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Wattle Dam - Diamond Drilling Results

• Drilling is designed to test the limits of the alteration zone and

• High Grade define mine design. Seeing visible

• Mineralisation A gold adds to confidence

• � Block A and B had one +500 gram metre hole and ten +100

• B gram metre holes (Grade = 21 g/t Au)

• � Block C and D has seven +500

• C metre holes 3 +

• gram (including 1500 metre and seven gram holes)

• +100 gram metre holes

• D � Conclusion - rade is ex ected to g p

• remain robust over the next 2.5 years of mining

• Open at depth

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 11

Projects – Mt Magnet (100% owned)

• Significant past gold producer in excess of 5m ounces

• � Multiple deposits with majority of old mined in banded iron

• g

• � Existing infrastructure includes 1.7mtpa plant (replacement value A$100m)

• � to commence in

• Mining August and first gold pour January 2012

• � Production plan of 520 , 000 oz over 6 years at 1.7 g/t - no third party royalties

• Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 12

Mt Magnet – Project Rationale

� Four good reasons to buy the Mt Magnet gold project:

• Near production gold project in a high gold price environment

• Will be only regional mill for 200km – a strategic asset

• Ore deposits are robust and mine geology well understood

• Mt Magnet is a large gold system, with potential for new discoveries

• Project now ( assumin g g old p rice A $ 1300 ) p roduction of 520 , 000 oz over 6 years with cash flow of $185m after capital

• –

• Potential Project Upside (Gold Price $1450) (assuming gold price of A$1450) production of 520,000 oz over 6 years with cash flow of $250m after capital

• –

• Potential Project Upside (Gold Price $1450 + new discovery) production of +520,000 oz over 6+ years with increased cash flows

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 13

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Mt Magnet – Progress August 2011

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• 40,000m of drilling, resource estimate and new mining study completed

• New 160 man camp completed and now fully operational

• Site management and mining team recruited and mining approval secured

• Mining contractor secured and mining about to commence (late Aug 11)

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 14

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Mt Magnet – Processing Plant

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� Existing 1.7mtpa processing plant located next to main operating open pits

• Currently being refurbished by GR Engineering at a cost of A$14m

� Can be expanded to 2.4mtpa by expenditure of a further A$5m

• Refurbishment due to be com leted in December 2011 p

Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 15

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Mt Magnet – Mars & Saturn Open Pits

� First ~2.35 years production Hill 50 from Mars & Saturn open pits � Mars ore is primarily banded Mars iron and Saturn ore is banded iron and breccia zone � Mars pit has 1 . 33mt @ 2 . 01 g/t Au � S aturn p t i h as 2 . 6 5mt @ 1 .5 3 g/t Au � Recovered gold in these two Saturn open pits is 200,000 oz undiluted and includes all resource cate g* ories Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 16

Mt Magnet – Project Upside

� Numerous underground targets to be drilled over the next 12 months

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 17

Exploration North QLD (earning 60%)

� Mt Windsor JV – World Class Gold District: 2011 field season drill targets

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 18

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Exploration North QLD (earning 60%)

• Joint venture with Liontown Resources Limited

• Exploring for Kidston style breccia hosted gold deposits

• Drilling planned for Mt Redan and Cardigan Dam Sep/Oct 2011

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Mt Redan
Target
Cardigan
Dam
Target
Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 19
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Exploration Nevada USA (earning 70%)*

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• Nevada is a world class gold district

• Two JV’s with Miranda Gold Corp

• Angel Wing targeting bonanza gold grade epithermal veins: –

• DaVinci veins 2km strike potential

• Bi Blue tar etin Carlin st le g g g y

• sediment hosted disseminated gold mineralisation

• � Drilling in Aug/Sep 2011

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*Marmota may earn 40% of RMS interest

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 20

Why Invest in Ramelius ?

� Operations

• Wattle Dam – high grade, low cost and open at depth

• Mt Magnet – low risk ready to go option on a high gold price

� Capital Position

• Strong cash / gold balance with no debt (A$99m)

• Able to fund Mt Magnet from existing cash

• Strong cash flows with low capital commitments

• Flexibility to take advantage of any opportunities

� Upside Potential

• Wattle Dam has substantial u p side on mine life ( drillin g underwa y)

• Mt Magnet is a large gold system with potential for new discoveries

• Greenfields projects in proven gold belts (Qld & Nevada)

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 21

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Mt Magnet Resource Statement

		RAMELIUS RESOURCES LTD MOUNT MAGNET GOLD PROJECT
		S Resource tatement 30/06/11 Measured Indicated Inferred Total Resource Tonnes Au Au Tonnes Au Au Tonnes Au Au Tonnes Au Au ('000s) g/t Oz ('000s) g/t Oz ('000s) g/t Oz ('000s) g/t Oz
	Deposit	Measured	Indicated	Inferred	Total Resource
		Tonnes Au Au	Tonnes Au Au	Tonnes Au Au	Tonnes Au Au
		('000s) g/t Oz	('000s) g/t Oz	('000s) g/t Oz	('000s) g/t Oz
	Galaxy Hill 50 Deeps Morning Star Morning Star Deeps Other Mt Magnet Deposits WesternQueenGroup	2 151 1 7 120 000 , . , 279 5.5 49,000 75 6.5 16,000 1,282 2.5 101,000 141 33 15000	10 554 1 9 635 000 , . , 932 7.0 209,000 3,736 2.0 240,000 860 4.9 135,000 3,073 2.2 222,000 349 22 25000	7 569 1 3 321 000 , . , 396 6.4 81,000 4,179 2.2 299,000 1,763 4.1 234,000 2,977 2.2 211,000 139 13 6000	20 274 1 6 1 075 000 , . , , 1,607 6.6 340,000 7,915 2.1 539,000 2,697 4.4 385,000 7,332 2.3 533,000 629 23 47000
	Stockpiles and Tailings	. , 493 0.9 15,000	. , 811 0.9 23,000	. , 100 1.2 4,000	. , 1,403 0.9 42,000
	Total Resources	4,421 2.2 316,000	20,314 2.3 1,489,000	17,122 2.1 1,156,000	41,857 2.2 2,961,000

The Information in this report that relates to resources and estimated mine grade is based on information compiled by Rob Hutchison.

Rob Hutchison is a Member of the Australian Institute of Mining and Metallurgy and has sufficient experience which is relevant to the style of mineralisation and t yp e of de p osit under consideration and to the activit y he is undertakin g to q ualif y as a Com p etent Person. Rob Hutchison is a full-time employee of the Company and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears

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Ramelius Resources Limited: Diggers & Dealers Presentation 2011 Page 22