RAMELIUS RESOURCES LIMITED — Major Shareholding Notification 2005

Aug 15, 2005

Ramelius Resources Limited

ACN 001 717 540

140 Greenhill Road, Unley SA 5061 GPO Box 1373, Adelaide SA 5001 DX 52003, Unley Telephone (08) 8373 6473 / (08) 8373 5588 Facsimile (08) 8373 5917

ASX RELEASE

For Immediate Release 16 August 2005

General Manager The Company Announcements Office Australian Stock Exchange Limited PO Box H224 Australia Square Sydney NSW 1215

Dear Sir/Madam,

Initial Substantial Holder Notice

Attached is an Initial Substantial Holder notice received by Ramelius Resources Limited from Sprott Asset Management Inc. of Canada.

Yours faithfully

Dom Francese Company Secretary

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603 page 1/2 15 July 2001

Saction 67tBNotice of initial substantial holderRamelius Rosources LimitedTo. Company Name/Schemoacn/arsn51540COL1171. Details of substantial holder (1)ASSETNameSPROTTMANDGEDENTINC.ACN/ARSN (if applicable)Aug 10812005The holder bocanic a substantial holder on2. Details of voting powerThe total runnity of votes attached to all the voting shares in the company or voting interests in the schome that the substantial holder or an associate (2) had arelevant interest (3) in on the date the substantial holder became a substantial flokier are as follows.Class of securities (4)Number of securitiesPorson's votes (5)Voting power (6)R. 666, 66GShacksrdınary$2.82%$3. Dolails of relevant interests.The noture of the relevant interest the substantial holder or an associate had in the following voting securities on the data the substantial holder became a substantialhinder are as follows:Holder of relevant interestNature of relevant interest (7)Class and number of securities4. Datails of prosect registered holdersSchodulesæafferhedThe persons registered as holders of the securities referred to in paragraph 3 above are as follows:Holder of relevant.Registered holder ofPerson entitled to beClass and numberaderest.Serviriescopistered as holder (8)of securities.So attached stradule5. ConsiderationThe consideration paid for each relevant intense referred to in paragraph 3 above, and acquired in the four membes prior to the day that the substantial holder became asubstantial holder is as follows:Hakler of relevantOute of acquisitionConsideration (9)interestof securitiesCashNon-cash
						Class and namber
			ORIOSIOS (augos 2006)

603 page 2/2 15 July 2001

			Name and ACN/ARSN (if applicable)	NIANuture of association
	7. Addresses	The addresses of persons named in this form are as follows:
		NameShaan Alset		Antress
			MGMT INC	BAY STედSTE ITOOBox 27TORONTO۵nM55-251
	Signature		Neal Nenadovic, CA, CFA.Chief Financial Officer
		Of int. name		Sprott Asset Management Inc.CODUCITY
		sign h ar e
				빼81/2105$\lt\lt_{\epsilon}$
				CHRECTIONS
łI)				If there are a number of substantial holders with similar or rahaed relevant interest (e.g. a corporation and its related corporations, or the manager and trustee of anequity trust), the names could be included in an announce to the form. If the relevant interests of a group of persons are essontially similar, they may be referred to
	form.			throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph / of the
t0				See the definition of "associate" in sociion 9 of the Corporations Act 2001.
Ø				See the definition of "relevant interest" in sections 608 and 6718(7) of the Corporations Act 2001.
傅				The voting shares of a company constitute one class unless divided into separate classes.
Ы	The total number of votes attached to all the voting shares in the company or wolmy interests in the scheme (if any) that the person or an associate has a relevantinterest in
儨		The person's votes divided by the total votes in the body corporate or scheme austiplied by 100.
47)		Include details of:
	勧	any relevant syreement or other circumstances by which the relevant interest was acquired. If subsoction 671B(4) applies, a copy of any document setting outthe terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or alrangement, must accompanythis form, together with a written statement certifying this contract, scheme or arrangement, and
	脚			any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities towhich the relevent into ost relates (indicating clearly the particular securities to which the qualification applies).
				See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.
偽		If the substantial holder is unable to determine the identity of the person (eg. If the relevent interest arises because of an option) write "unknown".
偽		Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, becomecritited to receive in relation to that acquisition. Details must be included even if the bondition on the mappening or not of a contingency. Details must beincluded of any boxefit paid on benefit of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whomthe relevant interest was acquired.

Ramellus Resources Ltd

CommonShares Held7/29/2005	Holder of Relevant Interest	Registered Holder of Securities	Consideration Details$(0.15$ AUD)
3.784,000	Sprott Asset Management Inc. asportfolio manager for Sprott custodied fundsSuite 2700, South TowerRoyal Barik PlazaToronto, OntarioM5J 2J1	Bank of New York Nominees LimitedBank of New York Golbal CustodyC/- National Australian CustodianSth Floor South271 Collins StreetMelbarne VIC 3000	567,600
4,558,666	Sprott Asset Management Inc. as portfoliomanager for Sprott Canadian Equity FundSuite 2700, South TowerRoyal Bank PlazaToronto, OntarioMSJ 2J1	JANZ Nominee Ltd< Sprott Asset Management A/C>C/- ANZ Banking Group LtdLeval 25, 530 Collins StreetMelbourne VIC 300	663,800
264.000	Sprott Asset Management Inc. as portfoliomanager for Sprott Bull/Bear RSP FundSuite 2700, South TowerRoyal Bank PlazaToronto, OntarloM5J 2J1	ANZ Nominee Ltd< Sprott Asset Management A/C>C/- ANZ Banking Group LtdLevel 25, 530 Collins StreetMelbourne VIC 300	39,600
60.000	Sprott Asset Management Inc. as portfoliomanager for SAL InvestmentsSuite 2700, South TowerRoyal Bank PlazaToronto, OntarioM5J 2J1	JANZ Nominee Ltd< Sprott Asset Management A/C>C/- ANZ Benking Group LtdLevel 25, 530 Collins StreetMelbourne VIC 300	9.000

$\begin{array}{c}\n\frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1}{2} \ \frac{1$ 6,666,666

$1,300,000$