3 October 2017 For Immediate Release Ramelius Completes Acquisition of Edna May Gold Mine

The Directors of Ramelius Resources Limited (ASX: RMS) ("Ramelius" or the "Company") are pleased to advise that the Company, through its wholly owned subsidiary, Ramelius Operations Pty Ltd, has successfully completed the acquisition of the Edna May Gold Mine from Evolution Mining Limited (ASX: EVN).

Ramelius has acquired the operating Edna May Gold Mine for A$40M cash from existing funds with further capped contingent payments to be made under the share purchase agreement.

3 October 2017

ISSUED CAPITAL

Ordinary Shares: 526M

DIRECTORS

NON-EXECUTIVE CHAIRMAN:

Robert Kennedy

NON-EXECUTIVE DIRECTORS:

Kevin Lines Michael Bohm

MANAGING DIRECTOR:

Mark Zeptner

www.rameliusresources.com.au info@rameliusresources.com.au

RAMELIUS RESOURCES LIMITED

Registered Office

Suite 4, 148 Greenhill Road Parkside, Adelaide

South Australia 5063

Tel +61 8 8271 1999

Fax +61 8 8271 1988

Operations Office

Level 1, 130 Royal Street East Perth WA 6004

Tel +61 8 9202 1127

The contingent payment to be made under the agreement is as follows.

  • A$20M in cash or Ramelius shares, or a combination of both, at Ramelius' sole election, upon a Board approved decision-to-mine the Edna May Stage 3 open pit;

  • Royalty payments of up to a maximum of A$30M payable at A$60/oz from gold production over 200,000 ounces - (or up to A$50M payable at A$100/oz if Stage 3 open pit is not mined).

The total maximum consideration, including the A$40M cash already paid, is A$90M. Managing Director, Mr Mark Zeptner today said:

"We are excited to assume ownership and management of the Edna May Gold mining operations and becoming a 200,000oz p.a. gold producer. We are particularly encouraged by the potential for Edna May to increase both its Ore Reserves and annual production via further extensions which represent huge optionality for Ramelius in the future."

"We believe our management team has the skills and experience to collaborate with the existing Edna May workforce to deliver on the turnaround started by Evolution and in extending the future potential of the mine."

For further information contact: Mark Zeptner Duncan Gordon

Managing Director Executive Director

Ramelius Resources Limited Adelaide Equity Partners Limited

Ph: +61 8 9202 1127 Ph: +61 8 8232 8800

Ramelius Resources Limited published this content on 03 October 2017 and is solely responsible for the information contained herein.
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