RAMELIUS RESOURCES LIMITED — Investor Presentation 2014

Aug 3, 2014

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Ramelius Resources Limited ASX:RMS

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Diggers & Dealers – August 2014

Forward Looking and Competent Persons Statements

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Forward looking statements

This presentation contains certain forward looking statements with respect to Ramelius’financial condition, results of operations, production targets 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.

Competent Persons statement

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 Mark Zeptner (Ore Reserves), who are Competent Persons and Members of The Australasian Institute of Mining and Metallurgy. Kevin Seymour, Rob Hutchison and Mark Zeptner are full-time employees of the company. Kevin Seymour, Rob Hutchison and Mark Zeptner 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 Mark Zeptner consent to the inclusion in this report of the matters based on their information in the form and context in which it appears.

Production targets

Production targets presented for Vivien and Kathleen Valley projects contain Inferred Resources. For details covering the resource and reserve classifications and proportions relating to the production targets refer to slide 27. Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.

Ramelius Resources Limited • Diggers & Dealers August 2014

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Corporate Summary

Board & Mana ement g

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Robert Kennedy, Non Executive Chairman Ian Gordon, Non Executive Director Kevin Lines, Non Executive Director Mike Bohm, Non Executive Director Mark Zeptner, Chief Executive Officer

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	Capital Structure(as at 25 July 2014	unless otherwise noted)
	Shares on Issue	398M
	Market Cap	A$27M
	Cash & Gold on hand(as at 30/06/14)	A$16.6M
	Debt(as at 01/08/14)	A$2.0M
	Enterprise Value	A$12.4M
	6 Month Trading Range	A$0.064 - $0.19
	Significant Shareholders(as at	30 June 2014)
	Sprott Dimensional	12.6% 2.5%
	Robert Kennedy	2.2%

Ramelius Resources Limited • Diggers & Dealers August 2014

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Strategy

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1. Be profitable in a low gold price environment 2. Discover a high margin asset over next 2 years

3. Strong focus on capital management

• AISC represents All-In Sustaining Costs as per the World Gold Council guidance

Ramelius Resources Limited • Diggers & Dealers August 2014

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Australian Project Locations

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Ramelius Resources Limited • Diggers & Dealers August 2014

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Project Overview

• Operations

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• Development Projects

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Project Locations - WA

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Ramelius Resources Limited • Diggers & Dealers August 2014

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Operations - Mt Magnet Gold Mine

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Gold Production & C1 Cash Costs

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25,000 $2,000
SAG mill
22,500 repairs ball mill $1,800
motor
20,000 $1,600
17,500 $1,400
15,000 $1,200
12,500 $1,000
10,000 $800
7,500 $600
5,000 $400
2,500 $200
- $0
Fine Gold Production (oz) - LHS C1 - Cash Cost (A$/oz) - RHS
Jun-12 Sep-12 Dec-12 Mar-13 Jun-13 Sep-13 Dec-13 Mar-14 Jun-14
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Operations - Mt Magnet Gold Mine

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• Focus on Saturn and Mars open pits in FY2015

• Saturn pit

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 Mars pit

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Saturn open pit – May 2014

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Operations - Mt Magnet Gold Mine

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Saturn open pit – May 2014
Previous Pit
Pit cutback at May 2014
310mRL (140m deep)
Pit design and resource
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Operations - Mt Magnet Gold Mine

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• Checker Gold Mill – capacity of 1.7Mtpa, highly competitive $20/t operating cost

• Pipeline of open pit & underground mines:

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• Proposed to deliver Vivien / Kathleen Valley ore for treatment at Checker

• Diggers & Dealers August 2014

Ramelius Resources Limited

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Development - Water Tank Hill / St George

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• Potential medium term high grade underground production (after Vivien FY2016)

• Combined Mineral Resource of 105koz at 5.2 g/t Au[1] near existing decline

• Mining Inventory of 48koz at 6.2 g/t Au[1]

• C1 cost of A$660/oz & AISC of A$915/oz with up-front capital of A$11.8M

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St George pit
Water Tank
New UG
Hill stope plan
development
Existing St
George UG
Possible extensions
100m to be drilled from u/g
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Ramelius Resources Limited • Diggers & Dealers August 2014

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Operations – Burbanks/Coogee

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• Mining completed Feb 2014

• Mine production of 145kt @ 4.37g/t for 20.4koz

• Haulage distance of 110km

• Cash costs (C1) of A$720/oz

• Processing complete Sep 2014

• Further exploration planned by end of CY14

Coogee open pit – Feb 2014

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Development - Vivien Project

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• May 2014 - BFS completed

• 1[st] July 2014 - Acquisition from Gold Fields

• 10[th] July 2014 - Permitting approvals received

• Key BFS results:

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Magazine
Ore Pad
Wall cutback
UG Power
UG Portal
Vivien Lode
Dewatering Dam
Office,
workshop,
go-line
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Development - Vivien Project

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Development - Vivien Project

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Development - Vivien Project

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Development - Vivien Project

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2013 Drill Hole VVDD1005 – 6.5m @ 30.4g/t Au from 257m downhole

Ramelius Resources Limited • Diggers & Dealers August 2014

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Development - Kathleen Valley Project

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
Mossbecker
Resource –
high grade
near term
mining
opportunity

Mining
studies
indicate
potential to
mine 48,000
⁴
ozs over 15
months
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Ramelius Resources Limited • Diggers & Dealers August 2014

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Development - Kathleen Valley Project

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 Overall Mineral Resource of 130koz → A$30/oz purchase price

⁴  Mossbecker Resource - mining studies indicate potential to mine 48kozs over 15 months

 Potential AISC of A$940/oz with low up front capital (A$1.7M)

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Mossbecker Mineral Resource:
520kt @ 3.8 g/t Au for 63koz⁴
⁴ Mossbecker Production target includes Inferred Resources. Refer slide 27 for details.
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Ramelius Resources Limited • Diggers & Dealers August 2014

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Production Targets[*]

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• Clear plan for production through FY2017 with increasing grade

• Development of Vivien / Kathleen increases total production to ~130koz pa

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Production Profile
140,000 $1,400
A$1,300/oz A$1,300/oz
Mossbecker
120,000 $1,200
A$1,150/oz
Mossbecker
100,000 $1,000
80,000 $800
60,000 $600
Coogee
Saturn Kathleen
40,000 & $400
Mars Percy Percy Vivien
& &
20,000 $200 Mt Magnet
Titan Titan
AISC
0 $0
FY2015 FY2016 FY2017
A$/oz
Ounces
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• Vivien and Kathleen Valley production targets contain Inferred Resources. Refer slide 27 for further details.

Ramelius Resources Limited • Diggers & Dealers August 2014

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Exploration Projects

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Ramelius Resources Limited • Diggers & Dealers August 2014

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Exploration – Vivien Gem

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 Encouraging shallow high grade intersections reported from RMS drilling:

 Historical drilling including:  Mineralisation remains open at depth

Ramelius Resources Limited • Diggers & Dealers August 2014

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Exploration – Fraser Range

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• Targeting buried IOCG systems within Fraser Range Province

• New 24 sub-block application over coincident magnetic and gravity anomalies

• Proceeding to grant

• No previous drilling

• Drill ready target….

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Ramelius Resources Limited • Diggers & Dealers August 2014

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Exploration – Tanami

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• Targeting new discoveries within Tanami Complex

• Farm-in secured over 1,700km[2] of prospective geology

• Under-explored and within 100km of Newmont’s 4.5Moz Callie Gold Mine and Granites Treatment Plant

Ramelius Resources Limited • Diggers & Dealers August 2014

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The Investment Case

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WA focused gold producer in a strong financial position to progress near term, high grade development projects

Operations Upside Capital Position

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Ramelius Resources Limited • Diggers & Dealers August 2014

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Thank you – see us at Booth #20

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Contact details:

• Mark Zeptner – Chief Executive Officer

• Phone – +61 8 9202 1127

• Email – reception@rameliusresources.com.au

• Website – www.rameliusresources.com.au

Ramelius Resources Limited • Diggers & Dealers August 2014

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Production Targets, Mineral Resources and Ore Reserve Note

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¹ All Mt Magnet Production targets are based on current Ore Reserves. For detailed information relating to Mt Magnet Mineral Resources and Ore Reserves see ASX release (RMS) 12 Sept 2013, ‘Resources and Reserves Statement’.

² For detailed information relating to Vivien Mineral Resources see ASX release (RMS) 1 April 2014, ‘Resource boost for Vivien high grade gold project’.

³ Vivien Production Target based on Ore Reserves plus a small proportion of Inferred Mineral Resource (7%). For detailed information relating to Vivien Mining Inventory and Ore Reserve see ASX release (RMS) 30 May 2014, ‘Vivien Gold Mine Feasibility Completed’.

⁴ Kathleen Valley Project, Mossbecker deposit production target is based on a mining scoping study based on Indicated (19%) and Inferred (81%) Mineral Resources. For detailed information relating to the Mineral Resource see ASX release (RMS) 10 June 2014, ‘Kathleen Valley Gold Project Acquisition.’ Further evaluation work and appropriate studies are required to establish sufficient confidence that this target will be met.

⁵ For detailed information relating to the Mossbecker Mineral Resource see ASX release (RMS) 10 June 2014, ‘Acquisition of Kathleen Valley Gold Project’ and 30 July 2014 ‘June 2014 Quarterly Activities Report’.

The Company confirms that it is not aware of any new information or data that materially affects the information included in this presentation and that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed.

Ramelius Resources Limited • Diggers & Dealers August 2014

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Mineral Resource Statement

MINERAL RESOURCES AS AT 30 JUNE 2013 - INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2013 - INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2013 - INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2013 - INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2013 - INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2013 - INCLUSIVE OF RESERVES
Deposit	Measured		Indicated	Inferred	Total Resource
	Tonnes ('000s)	Au Au g/t Oz	Tonnes Au Au ('000s) g/t Oz	Tonnes Au Au ('000s) g/t Oz	Tonnes Au Au ('000s) g/t Oz
Galaxy MorningStar	1,556	1.8 88,000	8,009 2.0 510,000 5,277 1.7 285,000	5,167 1.3 215,000 2,807 1.9 169,000	14,733 1.7 813,000 8,084 1.7 454,000
Total major deposits	1,556	1.8 88,000	13,286 1.9 795,000	7,974 1.5 384,000	22,817 1.7 1,267,000
Bartus Group Boomer Britannia Well Bullocks Eastern Jaspilite Eclipse Golden Stream Hesperus Hesperus West Hill 60 Lone Pine O'Meara Group Shannon Simmer And Jack Souvenir Group Spearmont - Galtee Stellar Welcome - Baxter	49 146 7 199 94 2 160 222	2.2 4,000 2.2 10,000 1.1 2.5 16,000 2.5 8,000 1.2 2.1 11,000 1.6 11,000	115 2.1 8,000 1,115 1.7 60,000 179 2.0 12,000 202 3.3 21,000 121 2.8 11,000 167 2.2 12,000 154 2.9 14,000 354 1.5 17,000 277 1.7 15,000 231 2.5 18,000 35 2.5 3,000 113 1.7 6,000 25 2.9 2,000 87 1.9 5,000 276 1.6 15,000	238 1.6 12,000 158 1.9 10,000 40 2.5 3,000 134 2.5 11,000 41 2.1 3,000 7 1.7 - 61 1.4 3,000 170 1.8 10,000 309 4.6 46,000 147 1.7 8,000 151 1.5 7,000 42 2.6 3,000 455 1.5 22,000 641 1.5 32,000 207 4.3 28,000 59 1.8 3,000 198 1.8 11,000	402 1.8 23,000 1,274 1.7 69,000 179 2.0 12,000 242 3.2 25,000 401 2.4 32,000 208 2.1 14,000 160 2.8 15,000 422 1.5 20,000 170 1.8 10,000 309 4.6 46,000 623 1.9 38,000 383 2.1 26,000 170 2.5 14,000 455 1.5 22,000 755 1.5 38,000 232 4.1 31,000 306 2.0 19,000 696 1.7 37,000
Total satellite deposits	878	2.1 60,000	3,451 2.0 219,000	3,058 2.2 212,000	7,387 2.1 491,000
Hill 50 Deeps Morning Star Deeps Saturn UG St George UG Water Tank Hill UG	279 110	5.5 49,000 4.9 17,000	932 7.0 209,000 195 4.2 26,000 149 4.2 20,000 229 6.6 49,000	396 6.4 81,000 334 5.0 53,000 1,607 2.5 127,000 42 4.0 5,000 89 4.9 14,000	1,607 6.6 339,000 528 4.7 79,000 1,607 2.5 127,000 302 4.4 42,000 318 6.1 63,000
Total UG deposits	390	5.3 66,000	1,504 6.3 304,000	2,468 3.5 280,000	4,362 4.6 650,000
Western Queen South Mt Magnet Stockpiles	412	1.0 13,000	400 3.2 42,000 1,668 0.8 41,000	376 2.5 30,000 100 1.2 4,000	776 2.9 72,000 2,180 0.8 58,000
Mt Magnet Total	3,236	2.2 227,000	20,309 2.1 1,401,000	13,975 2.0 910,000	37,521 2.1 2,538,000
Coogee			165 4.7 25,000	65 3.3 7,000	231 4.3 32,000
Total Resources	3,236	2.2 **227,000 **	20,474 2.2 **1,426,000 **	14,041 2.0 917,000	37,752 2.1 2,570,000

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For detailed information relating to Mt Magnet Mineral Resources see ASX release (RMS) 12 Sept 2013, ‘Resources and Reserves Statement’. No material change has occurred.

Note: Figures rounded to nearest 10,000 tonnes, 0.1 g/t and 1,000 ounces. Rounding errors may occur.

Ramelius Resources Limited • Diggers & Dealers August 2014

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Ore Reserve Statement

	ORE RESERVE STATEMENT AS AT 30 JUNE 2013	ORE RESERVE STATEMENT AS AT 30 JUNE 2013	ORE RESERVE STATEMENT AS AT 30 JUNE 2013
	Proven	Probable	Total Reserve
	Tonnes Au Au ('000s) g/t Oz	Tonnes Au Au ('000s) g/t Oz	Tonnes Au Au ('000s) g/t Oz
Galaxy Pits Saturn 508 1.9 31,000 Mars 202 2.0 13,000 Titan 717 1.4 32,000 Perseverance Vegas Brown Hill Morning Star Cutback Morning Star Satellite Pits Boomer Hesperus Lone Pine O'Meara Welcome Baxter Golden Stream Underground Water Tank Hill St George 73 3.6 8,000 Western Queen Western Queen South Stockpiles 412 1.0 13,000		635 1.6 32,000 439 2.1 30,000 536 1.3 23,000 981 2.5 79,000 64 1.2 2,000 393 2.1 26,000 1,679 1.8 98,000 583 1.6 30,000 352 1.1 12,000 258 1.8 15,000 150 2.6 12,000 191 1.1 7,000 90 2.9 9,000 269 5.1 44,000 86 3.0 8,000 182 3.9 23,000 1,164 0.8 30,000	1,144 1.7 63,000 641 2.1 43,000 1,253 1.4 55,000 981 2.5 79,000 64 1.2 2,000 393 2.1 26,000 - 1,679 1.8 98,000 - 583 1.6 30,000 352 1.1 12,000 258 1.8 15,000 150 2.6 12,000 191 1.1 7,000 90 2.9 9,000 - 269 5.1 44,000 159 3.3 16,000 - 182 3.9 23,000 1,576 0.8 43,000
Mt Magnet Total	1,912 1.6 97,000	8,052 1.9 480,000	9,964 1.8 577,000
Coogee		109 5.1 18,000	109 5.1 18,000
Total Reserves	1,912 1.6 97,000	8,161 1.9 498,000	10,073 1.8 595,000

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For detailed information relating to Mt Magnet Ore Reserves see ASX release (RMS) 12 Sept 2013, ‘Resources and Reserves Statement’. No material change has occurred.

Note: Figures rounded to nearest 10,000 tonnes, 0.1 g/t and 1,000 ounces. Rounding errors may occur.

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