RAMELIUS RESOURCES LIMITED — Investor Presentation 2020

Jul 15, 2020

Ramelius Resources Limited

Mark Zeptner Managing Director

ASX:RMS

Noosa Mining Virtual

NOOSA MINING VIRTUAL • JULY 2020 16 July 2020 1

QUALIFICATION

Forward Looking Statements

This presentation contains certain forward looking statements with respect to Ramelius Resources Ltd’s (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 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 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 and 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.

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.

2

NOOSA MINING VIRTUAL • JULY 2020

RAMELIUS CORPORATE SUMMARY

				Production Guidance	Production Guidance	Production Guidance	Production Guidance	Production Guidance	Production Guidance
				Mineral Resources1		4.10Mozat 30 June 2019
				Ore Reserves		0.84Moz at 30 June 2019
				FY 2019 Production		196,679oz @ AISC A$1,192/oz
				FY 2020 Production6		230,426oz @ AISC A$1,150 - A$1,250/oz
				FY 2021 Guidance7		260,000 - 280,000oz @ AISC A$1,230 - A$1,330/oz
Major Shareholders:				Board				Management
Van Eck Associates Corporation	9.7%			Kevin Lines	Non-Executive Chairman			Duncan Coutts	Chief Operating Officer
								Tim Manners	Chief Financial Officer
Ruffer LLP	8.0%			Mark Zeptner	Managing Director
								Kevin Seymour	GM Exploration
The Vanguard Group	4.8%			Mike Bohm	Non-Executive Director
								Liz Jones	GM - Mount Magnet
Broker Coverage				David Southam	Non-Executive Director			Paul Marlow	Mine Manager - Vivien
				Natalia Streltsova	Non-Executive Director			Tim Blyth	GM - Edna May
				Richard Jones	Manager Legal / Company Secretary			Andrew Bishop	Project Manager - Marda
								Hugh Trivett	Project Manager - Tampia

• 1Excludes Mineral Resources increase at Eridanus from 150koz to 490koz as per RMS ASX Release “Major Increase of Eridanus Mineral Resource”, 23 December 2019 2As at 10 July 2020 3As at 30 June 2020 4Syndicated Facility Agreement for A$35.0M in place

• 530 day average number of Ramelius shares traded per trading day to 30 June 2020

• 6As per ASX Release “June 2020 Quarter Record Production of 86,517oz” , 01 July 2020

• 7References to production guidance are based on the Mineral Resource and Ore Reserve Statements contained within, as set out on slides 21-22 and RMS ASX Release, “Ramelius Extends Life of Mine Plan by 34% to 1.45Moz”, 30/06/2020 NOOSA MINING VIRTUAL • JULY 2020 3

RAMELIUS – SPECTRUM TAKEOVER CONTINUES GROWTH PATH

✓ 90% ownership achieved in <3 months with Compulsory Acquisition process commenced

✓ Acquisition in line with strategy of acquiring quality assets within radius of existing mills

✓ Provides a near-term development project providing high grade feed into Mt Magnet

The acquisition adds high-grade mineral resources ✓ to Ramelius’ asset base, increasing mine life

==> picture [339 x 326] intentionally omitted <==

4

NOOSA MINING VIRTUAL • JULY 2020

TIMELINE –VALUE ACCRETIVE ACQUISITIONS

==> picture [760 x 312] intentionally omitted <==

----- Start of picture text -----

A$ / share A$ / share
$2.20 $2.20
$2.00 $2.00
Ramelius Share Price
$1.80 $1.80
May 2020 Spectrum Offer Closed
$1.60 $1.60
$1.40 $1.40
Feb 2020 Spectrum Takeover Offer Open
$1.20 $1.20
$1.00 $1.00
Dec 2019 Commenced Mining Marda
$0.80 $0.80
$0.60 $0.60
Jan 2019 Explaurum Takeover
+ Marda Acquisition
$0.40 $0.40
Oct 2017 Acquired Edna May
$0.20 Oct 2013 Acquired Vivien May 2015 DTM Vivien + Kathleen Valley $0.20
Jun 2014 Acquired Kathleen Valley
$0.00 $0.00
2014 2015 2016 2017 2018 2019 2020
----- End of picture text -----

5

NOOSA MINING VIRTUAL • JULY 2020

GUIDANCE & FORWARD OUTLOOK[1]

==> picture [460 x 324] intentionally omitted <==

• ➢ FY2020 all Quarters achieved Guidance (26 out of last 28 achieved) ▪ June 2020 Quarter: Record 86,517 ounces ▪ Mount Magnet (incl. Vivien) – 61,161 ounces ▪ Edna May (incl. Marda) – 25,356 ounces

➢ FY2020 Full Year Production ▪ 230,426oz @ AISC A$1,150 – A$1,250/oz ➢ FY2021 Full Year Guidance ▪ 260,000 - 280,000oz @ AISC A$1,230 - A$1,330/oz ➢ Project development now reaping benefits ➢ Reduced Upfront capital in June 2020 Quarter ➢ Exploration re-commencing after COVID-19 related reduction in footprint

1See RMS ASX Release, “June 2020 Quarter Record Production of 86,517oz”, 01 July 2020. References to production guidance are based on the Mineral Resource and Ore Reserve Statements contained within, as set out on slides 21-22 and RMS ASX Release, “Ramelius Extends Life of Mine Plan by 34% to 1.45Moz”, 30/06/2020

6

NOOSA MINING VIRTUAL • JULY 2020

RAMELIUS EXTENDS LIFE OF MINE PLAN[*] BY 34% TO 1.45 MILLION OUNCES

✓ FY2020 production guidance upgraded to 225-230,000oz[1]

✓ FY2021 production guidance of 260-280,000oz[2] (19% growth)

✓ Track record of delivering on production & cost guidance

✓ Penny gold project to commence production in late FY2022

==> picture [474 x 299] intentionally omitted <==

*Years FY2026 to FY2028 currently contain primarily low-grade stockpiles at Mt Magnet that will be processed at end of the current mine life. Production for the three years gradually tails off, with FY2026 at 100koz, FY2027 at 50koz and FY2028 at 30koz.

*The Life of Mine Plan is a Production Target that contains a proportion of Inferred Resources (12%). There is a low level of geological confidence associated with inferred mineral resources and there is no certainty that further exploration work will result in the determination of indicated mineral resources or that the production target itself will be realised. 1See RMS ASX Release, “Ramelius on Track for Record Quarter of Over 80koz Gold Produced, FY2020 Guidance Upgraded”, 22 June 2020 2See RMS ASX Release, “Ramelius Extends Life of Mine Plan by 34% to 1.45Moz”, 30 June 2020 NOOSA MINING VIRTUAL • JULY 2020

7

EXTENDED LIFE OF MINE PLAN

✓ Mine Plan outlines total production of 1.45Moz primarily across 6 years ✓ Average All-in Sustaining Costs (AISC) over life of mine A$1,250-A$1,350/oz

✓ Capital provided for projects including Eridanus, Tampia, Penny, Morning Star & Saturn ✓ Exploration contributes to mine life extension and delivers “rolling plan” ✓ Detailed mine plan that provides excellent visibility and predictability

Production, AISC & Capex	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026+	TOTAL/AVG
Production (koz)	260-280	255-275	250-270	265-285	190-210	170-190	1,450
AISC (A$/oz)	1,230-1,330	1,325-1,425	1,200-1,300	1,100-1,200	1,100-1,200	1,750-1,850	1,250-1,350
Capital (A$M)	55-65	35-45	40-50	15-25	20-30	0-10	175-245
Exploration (A$M)	25-30	20-25	20-25	20-25	20-25	10-15	135-175
Total (A$M)	80-90	55-70	60-75	35-50	40-55	10-25	310-420

NOOSA MINING VIRTUAL • JULY 2020 8

COMPARISON OF LIFE OF MINE PLANS – JUNE 2019[#] VS JUNE 2020

==> picture [502 x 300] intentionally omitted <==

▪ 34% growth from previous LOMP

▪ Expanded Stage 2 Eridanus open pit ▪ Preliminary Scoping Study Eridanus u/g ▪ Inclusion of Penny Gold Project PFS

==> picture [263 x 165] intentionally omitted <==

See RMS ASX Release, “Life of Mine and Tampia updates with conference call info”, 17 June 2019

9

NOOSA MINING VIRTUAL • JULY 2020

MT MAGNET PRODUCTION CENTRE – KEEPS ON DELIVERING

==> picture [393 x 319] intentionally omitted <==

▪ Mt Magnet keeps delivering with effective exploration strategy delivering Reserve replacement

▪ Cosmos Mine Area

• Shannon & Hill 60 undergrounds performing well

• Eridanus stage 2 cut-back reflecting larger open pit out to FY2023, with bulk underground planned below pit

▪ Vivien Underground Mine

• Additional year of mine life in FY2021, further drilling early 2022

▪ Penny Gold Project

• Development commencing December Qtr 2021

• Pre-Feasibility Study complete

▪ Processing Plant

• Reliable 1.9-2.0Mtpa mill throughput

• Low cost <A$20/t, gas-fired power

NOOSA MINING VIRTUAL • JULY 2020NOOSA MINING VIRTUAL • JULY 202010

10

EDNA MAY PRODUCTION CENTRE –THE PARTS ARE COMING TOGETHER

==> picture [252 x 325] intentionally omitted <==

• Edna May production centre set to deliver higher margins

• ▪ Edna May Operations

• Underground operation up to full production

• ▪ Greenfinch open pit well underway

• ▪ Marda Gold Project

▪ Marda Central production well underway

• Marda North resource to reserve conversion in progress

• ▪ Tampia Gold Project

• Tampia project Feasibility Study results included with significant reduction in upfront Capital, production commencing in FY2022

• ▪ Symes Find

• Still being drilled/assessed, later in the Mine Plan

• ▪ Edna May Processing Plant

• 2.7Mtpa current capacity, reducing to 2.1Mtpa to accommodate finer grind for Tampia

• ▪ Low cost (<$20/t), State grid power

NOOSA MINING VIRTUAL • JULY 2020NOOSA MINING VIRTUAL • JULY 202011 11

PENNY GOLD PROJECT

12

NOOSA MINING VIRTUAL • JULY 2020

PENNY GOLD PROJECT – MOVING QUICKLY TO BRING INTO PRODUCTION

Acquisition completed (100% ownership) <5 mths Pre-Feasibility Study completed in <3 months New high-grade Mineral Resources estimate of ✓[✓✓] 620kt @ 15.0 g/t Au for 300,000oz[1 ]

• Penny Nth: 420kt @ 20.0g/t for 270,000oz

• Penny Wst: 90kt @ 6.6g/t for 19,000oz

• Magenta: 110kt @ 2.7g/t for 9,800oz

Maiden Ore Reserve estimate of 500kt @ 14.0g/t ✓ Au for 230,000oz[1]

• Penny Nth UG: 490kt @ 15.0g/t for 230,000oz

• Magenta OP: 12kt @ 3.9g/t for 1,500oz

✓ Exploration drilling to re-commence July 2020

==> picture [465 x 333] intentionally omitted <==

1See RMS ASX Release, “Ramelius Extends Life of Mine Plan by 34% to 1.45Moz”, 30 June 2020

13

NOOSA MINING VIRTUAL • JULY 2020

PENNY GOLD PROJECT – COMPELLING PFS RESULTS

Parameter	Unit	Pre-Feasibility Study (June 2020)	.
General
Start Date (open pit cut-back)	Qtr	September 2021 Quarter
Initial life	Yrs	3.8
Mining (open pit)
Ore tonnes (high grade)	kt	13
Grade	g/t	5.1
Contained Gold	koz	2
Mining (underground)
Ore tonnes (high grade)	kt	571
Grade	g/t	13.3
Contained Gold	koz	248
Processing
Ore processed	Mt	584
Grade	g/t	13.3
Gold fed	koz	250
Recovery	%	92
Gold Production	koz	230
Financial
Upfront Capital Cost	A$M	23.5
AISC	A$/oz	703

14

NOOSA MINING VIRTUAL • JULY 2020

ERIDANUS UPDATE

15

NOOSA MINING VIRTUAL • JULY 2020

ERIDANUS – 3[RD] LARGEST ENDOWMENT AREA AT MT MAGNET

➢	Significant Mineral Resource estimate of	.
	12Mt @ 1.3 g/t Au for 490,000oz1
➢	Stage 2 open pit commenced in June 2020
	Qtr, following excellent performance from
	Stage 1 open pit
➢	Recent diamond drilling returned wider
	zones of mineralisation across the 60m
	wide Eridanus granodiorite;
	▪ 203m at 2.18 g/t Au from 297m in GXDD0103,
	including 22m at 13.07 g/t Au (see opposite)
	▪ 114m at 1.11 g/t Au from 288m in GXDD0096A
	▪ 103m at 1.19 g/t Au from 319m in GXDD0097

1See RMS ASX Release “Major Increase of Eridanus Mineral Resource”, 23 December 2019

16

NOOSA MINING VIRTUAL • JULY 2020

ERIDANUS UNDERGROUND – PRELIMINARY SCOPING STUDY

		➢	➢	Close spaced GC	Close spaced GC	drilling & in-pit mapping	drilling & in-pit mapping	drilling & in-pit mapping
	.			has led to a number of sub-vertical quartz
				lode structures being defined
		➢		Eridanus being re-modelled incorporating
				vein sets in September 2020 Quarter
				Parameter		Unit	Preliminary Scoping
							Study
							(June 2020)
				General
				Start Date	(decline	Qtr	December 2023 Quarter
				development)
				Initial life		Yrs	3.0
				Mining (underground)
				Ore tonnes		Mt	2.0
				Grade		g/t	1.6
				Contained Gold		koz	103
				Processing
				Oreprocessed		Mt	2.0
				Grade		g/t	1.6
				Recovery		%	95.0
				Gold Production		koz	98
				Financial
				Upfront Capital Cost		A$M	30
				AISC		A$/oz	1,559

17

NOOSA MINING VIRTUAL • JULY 2020

FURTHER OPTIMISATION

18

NOOSA MINING VIRTUAL • JULY 2020

MINING/PROCESSING STUDIES & RESOURCE CONVERSION

➢ Mount Magnet

.

• Galaxy (Saturn, Mars, Titan & Hill 50) – underground studies to convert ~470koz of existing mineral resources into the LOMP

• Morning Star – underground study to consider ~80koz mineral resource currently at depth as well as other nearby opportunities

• Eridanus/Shannon/Stellar – continue work on the bulk underground option at Eridanus as well as accelerate extensional drilling at Shannon and considering underground opportunities below the high-grade pod at the base of the Stellar pit

• Processing facility – the processing plant, currently operating between 1.9-2.0Mtpa, has previously operated up to 2.4Mtpa with additional secondary crushing, ball mill and leach tank capacity being decommissioned in the early 2000’s. Cost/benefit analysis on upgrade which, based on previous studies, could be carried out for less than A$20M.

➢ Edna May

• Underground – carry out study on bulk underground option and compare to current high-grade lode only mine plan which focuses primarily on the Fuji and Jonathan lodes

• Stage 3 Open Pit – re-visit the large cutback on the original Stage 2 pit to potentially unlock over 500koz of mineral resources which would potentially secure mine life at Edna May for up to 10 years

1See RMS ASX Release, “Resources and Reserves Statement 2019”, 10 September 2019.

NOOSA MINING VIRTUAL • JULY 2020 19

RAMELIUS

Sunrise at Edna May gold mine

Ramelius Resources Limited ASX Code: RMS

Level 1, 130 Royal Street East Perth WA 6004

Authorised for release to the ASX by the Managing Director. For further information contact:

Investor enquiries:

Mark Zeptner Managing Director Ramelius Resources Ltd Ph: +61 8 9202 1127

Tim Manners Chief Financial Officer Ramelius Resources Ltd Ph: +61 8 9202 1127

Media enquiries:

Luke Forrestal Associate Director Media & Capital Partners Ph: +61 411 479 144

20

NOOSA MINING VIRTUAL • JULY 2020

2019 MINERAL RESOURCE STATEMENT

		MINERAL RESOURCES AS AT 30 JUNE 2019- INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2019- INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2019- INCLUSIVE OF RESERVES	MINERAL RESOURCES AS AT 30 JUNE 2019- INCLUSIVE OF RESERVES
Project	Deposit	Measured	Indicated	Inferred	Total Resource
		t g/t oz	t g/t oz	t g/t oz	t g/t oz
Mt Magnet	Galaxy Group Morning Star Bartus Group Boomer Britannia Well Bullocks Eastern Jaspilite Eclipse Eridanus Golden Stream Lone Pine Milky Way O'Meara Group Spearmont - Galtee Stellar Welcome-Baxter	92,000 1.8 5,400	4,100,000 1.6 220,000	2,300,000 1.3 96,000	6,600,000 1.5 320,000
			4,900,000 1.9 300,000	4,300,000 1.5 210,000	9,200,000 1.7 510,000
		49,000 2.2 4,000	110,000 2.1 8,000	240,000 1.6 12,000	400,000 1.9 24,000
			1,200,000 1.8 68,000	790,000 1.0 26,000	2,000,000 1.5 94,000
			180,000 2.0 12,000		180,000 2.1 12,000
			200,000 3.3 21,000	40,000 2.5 3,000	240,000 3.1 24,000
		150,000 2.2 10,000	120,000 2.8 11,000	130,000 2.5 11,000	400,000 2.5 32,000
			170,000 2.2 12,000	41,000 2.1 3,000	210,000 2.2 15,000
			2,800,000 1.3 120,000	690,000 1.1 23,000	3,500,000 1.3 150,000
			150,000 2.9 14,000	67,000 1.2 2,700	220,000 2.4 17,000
			490,000 1.3 21,000	390,000 1.7 21,000	870,000 1.5 42,000
			1,400,000 1.3 58,000	880,000 1.1 30,000	2,300,000 1.2 88,000
			180,000 2.5 14,000	230,000 1.7 12,000	410,000 2.0 27,000
			25,000 2.9 2,000	210,000 4.3 28,000	230,000 4.0 30,000
			380,000 2.1 26,000		380,000 2.1 26,000
		220,000 1.6 11,000	280,000 1.6 15,000	200,000 1.8 11,000	700,000 1.7 37,000
	Open Pit deposits	510,000 1.9 30,000	17,000,000 1.7 920,000	11,000,000 1.4 480,000	28,000,000 1.6 1,400,000
	Hill 50 Deeps Hill 60 Morning Star Deeps Saturn UG Shannon	280,000 5.5 49,000	930,000 7.0 210,000	400,000 6.4 81,000	1,600,000 6.6 340,000
			200,000 4.4 28,000	160,000 4.3 22,000	360,000 4.3 50,000
			190,000 4.2 26,000	330,000 5.0 53,000	530,000 4.7 79,000
				1,600,000 2.5 130,000	1,600,000 2.5 130,000
			330,000 5.9 63,000	290,000 4.2 39,000	620,000 5.1 100,000
	UG deposits	280,000 5.5 49,000	1,700,000 6.1 330,000	2,800,000 3.6 320,000	4,700,000 4.6 700,000
	ROM & LG stocks	1,500,000 0.7 33,000			1,500,000 0.7 33,000
	Total Mt Magnet	2,300,000 1.5 110,000	18,000,000 2.1 1,200,000	13,000,000 1.9 810,000	34,000,000 2.0 2,200,000
	Edna May Edna May UG Greenfinch ROM & LG stocks		21,000,000 0.9 580,000	5,100,000 0.8 130,000	26,000,000 0.9 720,000
			310,000 6.9 70,000	12,000 6.7 2,700	330,000 6.9 73,000
Edna May			2,700,000 1.1 94,000	1,700,000 1.1 60,000	4,400,000 1.1 150,000
		1,700,000 0.5 25,000			1,700,000 0.5 25,000
	Total Edna May	1,700,000 0.5 25,000	24,000,000 1.0 750,000	6,800,000 0.9 200,000	32,000,000 0.9 970,000
Vivien	Vivien UG	370,000 5.8 68,000	41,000 3.9 5,100	34,000 2.9 3,100	440,000 5.4 77,000
Kathleen Valley	Mossbecker Yellow Aster Nil Desperandum		110,000 2.6 8,900	120,000 3.4 13,000	230,000 3.0 22,000
			91,000 3.8 11,000	300,000 2.0 18,000	390,000 2.4 30,000
			23,000 5.8 4,400	100,000 2.9 9,500	120,000 3.5 14,000
	Total KV		220,000 3.4 24,000	520,000 2.5 41,000	750,000 2.7 66,000
Coogee	Coogee		31,000 3.6 3,600	65,000 3.3 7,000	96,000 3.4 11,000
WesternQueen	WQ South		100,000 3.6 12,000	81,000 3.4 8,800	180,000 3.5 21,000
	Dolly Pot Dugite Python Goldstream Golden Orb King Brown Die Hardy Red Legs		560,000 1.7 31,000	44,000 1.7 2,300	610,000 1.7 34,000
			250,000 1.9 15,000		250,000 1.9 15,000
			760,000 1.9 47,000	170,000 1.8 10,000	940,000 1.9 57,000
Marda			100,000 2.5 8,300	130,000 1.4 5,900	230,000 1.9 14,000
			370,000 3.0 35,000	190,000 1.8 11,000	560,000 2.6 46,000
			130,000 4.3 18,000	41,000 1.9 2,600	170,000 3.7 21,000
			1,100,000 1.6 54,000	450,000 1.5 21,000	1,500,000 1.6 75,000
				370,000 2.9 34,000	370,000 2.9 34,000
	Total Marda		3,200,000 2.0 210,000	1,400,000 2.0 87,000	4,600,000 2.0 300,000
Tampia	Tampia	390,000 2.4 31,000	7,700,000 1.7 420,000	130,000 1.8 7,400	8,200,000 1.7 460,000
Tot	al Resource	4,700,000 1.6 240,000	53,000,000 1.6 2,700,000	22,000,000 1.6 1,200,000	81,000,000 1.6 4,100,000
Figures rounde	d to 2 significant figures.	Rounding errors may occur.

For detailed information relating to Mineral Resources see ASX Releases (RMS) “Resources and Reserves Statement 2019”, 10 September 2019, “Vivien Underground Extended to June 2021”, 12 September 2019, “Major Increase of Eridanus Mineral Resource”, 23 December 2019 and “Ramelius Extends Life of Mine Plan by 34% to 1.45Moz”, 30 June 2020.

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.

21

NOOSA MINING VIRTUAL • JULY 2020

2019 ORE RESERVE STATEMENT

		ORE RESERVE STATEMENT AS AT 30 JUNE 2019	ORE RESERVE STATEMENT AS AT 30 JUNE 2019	ORE RESERVE STATEMENT AS AT 30 JUNE 2019
Project	Mine	Proven	Probable	Total Reserve
		t g/t oz	t g/t oz	t g/t oz
Mt Magnet	Boomer Brown Hill		130,000 2.9 12,000 620,000 1.6 31,000	130,000 2.9 12,000 620,000 1.6 31,000 3,100,000 1.1 110,000 95,000 3.0 9,200 200,000 1.2 7,800 1,100,000 1.9 68,000 170,000 2.7 15,000 180,000 1.3 7,500
	Eridanus		3,100,000 1.1 110,000
	Golden Stream Milky Way Morning Star Stellar Vegas		95,000 3.0 9,200 200,000 1.2 7,800 1,100,000 1.9 68,000 170,000 2.7 15,000 180,000 1.3 7,500
	Total Open Pit		5,600,000 1.4 260,000	5,600,000 1.4 260,000
	Hill 60 Shannon		240,000 3.2 25,000 290,000 5.1 48,000	240,000 3.2 25,000 290,000 5.1 48,000
	Total Underground		530,000 4.3 73,000	530,000 4.3 73,000
	ROM & LG stocks	1,500,000 0.7 33,000	- - -	1,500,000 0.7 33,000
	Mt Magnet Total	1,500,000 0.7 33,000	6,100,000 1.7 330,000	7,600,000 1.5 360,000
	Edna May UG	1,700,000 0.5 25,000	420,000 4.7 63,000 1,700,000 1.2 62,000	420,000 4.7 63,000 1,700,000 1.2 62,000 1,700,000 0.5 25,000
	Greenfinch
	ROM & LG stocks		- - -
	Edna May Total	1,700,000 0.5 25,000	2,100,000 1.9 130,000	3,700,000 1.3 150,000
Vivien	Vivien UG	220,000 6.2 44,000	-	220,000 6.2 44,000
	Dolly Pot Dugite Python Goldstream Golden Orb East Golden Orb West King Brown		300,000 1.7 16,000 170,000 2.0 11,000 320,000 2.2 22,000 71,000 2.6 6,000 64,000 4.2 8,600 140,000 2.7 12,000 75,000 5.3 13,000	300,000 1.7 16,000 170,000 2.0 11,000 320,000 2.1 22,000 71,000 2.6 6,000 64,000 4.2 8,600 140,000 2.7 12,000 75,000 5.4 13,000
Marda
	Marda Total	- - -	1,100,000 2.5 89,000	1,100,000 2.5 89,000
Tampia	Tampia	170,000 3.7 20,000	2,000,000 2.7 180,000	2,200,000 2.8 200,000
	Total Reserve	3,600,000 1.1 120,000	11,000,000 2.0 720,000	15,000,000 1.8 840,000
Figures rounded t	o 2 significant figures. Rounding err	ors may occur.

For detailed information relating to Ore Reserves see ASX Releases (RMS) “Resources and Reserves Statement 2019”, 10 September 2019, “Vivien Underground Extended to June 2021”, 12 September 2019, “Major Increase of Eridanus Mineral Resource”, 23 December 2019 and “Ramelius Extends Life of Mine Plan by 34% to 1.45Moz”, 30 June 2020.

.

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.

22

NOOSA MINING VIRTUAL • JULY 2020