RAMELIUS RESOURCES LIMITED — Major Shareholding Notification 2011

Dec 12, 2011

FACSIMILE TRANSMITTAL SHEET

TO	FROM:
Company Announcements Office	Maggie Tang
COMPANY:	DATE:
Australian Securities Exchange	December 12, 2011
FAX NUMBER:	TOTAL NO. OF PAGES INCLUDING COVER:
011-61-2-9778-0999/ 61-2-9347-0005	4
PHONE NUMBER	SENDER'S PHONE NUMBER: 416-943-4072
KE.	SENDER'S FAX NUMBER:
FORM 604	416-943-6497
EI PLEASE COMMENT $\Box$ FOR REVIEW URGENT	OPLEASE REPLY OPLEASE RECYCLE

NOTES/COMMENTS:

Dear Sir,

Please find attached a Form 604 notice of change of interest in Ramelius Resources Ltd. Please do not hesitate to contact me at mtang@sprott.com, if you have any questions.

Sincerely, Maggie Tang

ROYAL BANK PLAZA, SOUTH TOWER.

SUITE2700, PO BOX 27

TORONTO, ON M5J2J1 T: 416 943 6707 F: 416 943 6497 FOLL FREE: 1 866 299 9906

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To Company Name/Scheme ACN/ARSN	Ramelius Resources Limited	51 001 717 540
1. Details of substantial holder (1) Name ACN/ARSN (if applicable)		Sprott Asset Management LP (SAM)
There was a change in the Interests of the substantial holder on The previous notice was given to the company on		9/12/2011 13/5/2011

The previous notice was dated

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

13/5/2011

Class of securities (4)	Previous notice		Present notice
	Person's votes	Voting power (5)	Person's votes	Voting power (5)
Ordinary Shares	51,344,214	17.68	52,519,910	$15.68 *$

* decrease in voting power due primarily to the increase in issued shares

3. Changes In relevant Interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the r enturiate of court enarge in, or change in the nature of, a reterant interver or the substantial holding notice to the company or scheme are as
company or scheme, since the substantial holder was last required to give a follows:

	Person whose		Consideration
	relevant interest		given in relation	Class and number of
Date of Change	changed	Nature of Change	to change	securities affected
18-May-11	SAM	Buy	1.3168 AUD	ordinary shares 225.300
24-May-11	SAM	Sell	1.2900 AUD	ordinary shares 11.000
9-Jun-11	SAM	Buy	1.2289 AUD	64,100 ordinary shares
22-Jun-11	SAM	Buy	1.2485 AUD	61,100 ordinary shares
7-Jul-11	SAM	Buy	1.3292 AUD	63.300 ordinary shares
14-Jul-11	SAM	Buy	1.4170 AUD	ordinary shares 62.300
$21 -$ Jul-11	ALCOHOL: SAM	Sell	1.4519 AUD	ordinary shares 25,300
16-Aug-11	SAM	Buy	1.5484 AUD	ordinary shares 66.200
13-Aug-11	SAM	Buy	$1.6009$ AUD	ordinary shares 500.000
16-Aug-11	SAM	Buy	1.5484 AUD	ordinary shares 333,800
20-Sep-11	SAM	Buy	1.6057 AUD	ordinary shares 122,500
21-Sep-11	SAM	Buy	1.6054 AUD	ordinary shares 136,300
$1 - Dec - 11$	SAM	Sell	1.1926 AUD	ordinary shares 351,904
9-Dec-11	SAM	Sell	1.2449 AUD	ordinary shares 71,000

4. Present relevant Interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
SAM	RBC Dexia Investor Services	Sprott Asset Management LP is the portfolio manager acting on behalf of various funds and managed accounts.		Ordinary Shares 25,685,017	25,685,017
SAM	Cormark Securities Inc.			Ordinary Shares 15,161,420	15,161,420
SAM	Scotia Capital			Ordinarv Shares 10,138,573	10,138,573
SAM	Credit Suisse			Ordinary Shares 1,534,900	1,534,900

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
1 Sprott Asset Management LP	200 Bay Street, Suite 2700, P.O.Box 27 Toronto, ON Canada M5J 2J1

Signature

print name	Kirstin McTaggart	capacity	Chief Compliance Officer
sign here		date	12/12/2011
	DIRECTIONS

• (1) If there are a number of substantial holders with similar or related relevant interests (eg. a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to 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 6 of the form.
• (2) See the definition of "associate" in section 9 of the Corporations Act 2001.
• (3) See the definition of "relevant interest" in sections 608 and 671B(7) of the Corporations Act 2001.
• (4) The voting shares of a company constitute one class unless divided into separate classes.
• The person's votes divided by the total votes in the body corporate or scheme multiplied by 100. $(5)$
• Include details of: $(6)$
• any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) $(a)$ applies, a copy of any document sotting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, schome or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and
• any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal $(b)$ of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

$P.4$

See the definition of "relevant agreement" in section 9 of the Corporations Act 2001.

• (7) 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, become entitled to receive in relation to that acquisition. Detai or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.
• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.