Hole Id

Easting

Northing

Az/Dip

RL

F/Depth (m)

From (m)

To (m)

Interval (m)

g/t Au

GXRC1333

577703

6896621

290/-55

443

234

115

137

22

0.49

Incl.

115

124

9

0.52

Incl.

118

123

5

0.73

129

137

8

0.70

Incl.

131

136

5

1.01

Incl.

142

149

7

0.93

144

147

3

1.85

Incl.

165

223

58

0.65

198

214

16

1.16

GXRC1334

577724

6896656

300/-55

442

186

76

135

59

0.82

Incl.

84

100

16

1.43

Incl.

84

87

3

6.11

+

114

133

19

1.09

Incl.

114

119

5

1.91

+

122

132

10

1.00

Incl.

143

157

14

0.40

GXRC1335

577703

6896541

300/-56

441

246

126

133

7

0.88

140

147

7

1.31

164

176

12

0.12

186

191

5

0.22

199

205

6

0.69

214

246

32

0.30

GXRC1336

577744

6896578

300/-57

441

270

118

140

22

0.42

Incl.

124

125

1

7.03

180

215

35

0.36

Incl.

181

186

5

0.75

199

210

11

0.35

Incl.

219

270

51

2.01

Incl.

232

239

7

11.29

+

232

237

5

15.37

Incl.

252

258

6

1.06

265

270

5

1.93

Criteria

JORC Code explanation

Commentary

Sampling techniques

• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.

• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.

• Aspects of the determination of mineralisation that are Material to the Public Report.

• In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.







Potential gold mineralised intervals are systematically sampled using industry standard 1m intervals, collected from reverse circulation (RC) drill holes.

Drill hole locations were designed to allow for spatial spread across the interpreted mineralised zone. All RC samples were collected and riffle split to 3-4kg samples on 1m metre intervals.

Standard fire assaying was employed using a 50gm charge with an AAS finish. Trace element determination was undertaken using a multi (4) acid digest and ICP- AES finish.

Drilling techniques

• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).



Drilling was completed using best practice 5 ¾' face sampling RC drilling hammers for all drill holes.

Drill sample

• Method of recording and assessing core and chip sample recoveries and results assessed.

• Measures taken to maximise sample recovery and ensure representative nature of the samples.

• Whether a relationship exists between sample recovery and grade and whether sample bias may have



Bulk RC drill holes samples were visually

recovery

inspected by the supervising geologist to ensure

adequate clean sample recoveries were

achieved. Any wet, contaminated or poor

sample returns are flagged and recorded in the

database to ensure no sampling bias is

introduced.



Zones of poor sample return are recorded in the

database and cross checked once assay results

Criteria

JORC Code explanation

Commentary

occurred due to preferential loss/gain of fine/coarse material.

are received from the laboratory to ensure no misrepresentation of sampling intervals has occurred. Of note, excellent RC drill recovery is reported from all RC holes.

Logging

• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.

• The total length and percentage of the relevant intersections logged.

• All RC drill samples are geologically logged on site by professional geologists. Details on the host lithologies, deformation, dominant minerals including sulphide species and alteration minerals plus veining are recorded relationally (separately) so the logging is interactive and not biased to lithology.

• Drill hole logging of RC chips is qualitative on visual recordings of rock forming minerals and quantitative on estimates of mineral abundance.

• The entire length of each RC drill hole is geologically logged.

Sub-sampling techniques and sample preparation

• If core, whether cut or sawn and whether quarter, half or all core taken.

• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

• For all sample types, the nature, quality and appropriateness of the sample preparation technique.

• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

• Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.

• Whether sample sizes are appropriate to the grain size of the material being sampled.

• Duplicate samples are collected every 25th sample from the RC chips.

• Dry RC 1m samples are riffle split to 3-4kg as drilled and dispatched to the laboratory. Any wet samples are recorded in the database as such and allowed to dry before splitting and dispatching to the laboratory.

• All samples are pulverized prior to splitting in the laboratory to ensure homogenous samples with 85% passing 75um. 200gm is extracted by spatula that is used for the 50gm charge on standard fire assays.

• RC samples submitted to the laboratory are sorted and reconciled against the submission documents. In addition to duplicates a high grade or low grade standard is included every 25th sample, a controlled blank is inserted every 100th sample. The laboratory uses barren flushes to clean their pulveriser and their own internal standards and duplicates to ensure industry best practice quality control is maintained.

• The sample size is considered appropriate for the type, style, thickness and consistency of mineralization.

Quality of assay data and laboratory tests

• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.

• For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make

• The fire assay method is designed to measure the total gold in the sample. The technique involves standard fire assays using a 50gm sample charge with a lead flux (decomposed in the furnace). The prill is totally digested by HCl and HNO3 acids before measurement of the gold determination by AAS.

• No field analyses of gold grades are completed. Quantitative analysis of the gold content and

Criteria

JORC Code explanation

Commentary

and model, reading times, calibrations factors applied and their derivation, etc.

• Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

trace elements is undertaken in a controlled laboratory environment.

• Industry best practice is employed with the inclusion of duplicates and standards as discussed above, and used by Ramelius as well as the laboratory. All Ramelius standards and blanks are interrogated to ensure they lie within acceptable tolerances. Additionally, sample size, grind size and field duplicates are examined to ensure no bias to gold grades exists.

Verification of sampling and assaying

• The verification of significant intersections by either independent or alternative company personnel.

• The use of twinned holes.

• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.

• Discuss any adjustment to assay data.

• Alternative Ramelius personnel have inspected the RC chips in the field to verify the correlation of mineralised zones between assay results and lithology, alteration and mineralization.

• All holes are digitally logged in the field and all primary data is forwarded to Ramelius' Database Administrator (DBA) in Perth where it is imported into Datashed, a commercially available and industry accepted database software package. Assay data is electronically merged when received from the laboratory. The responsible project geologist reviews the data in the database to ensure that it is correct and has merged properly and that all the drill data collected in the field has been captured and entered into the database correctly.

• The responsible geologist makes the DBA aware of any errors and/or omissions to the database and the corrections (if required) are corrected in the database immediately.

• No adjustments or calibrations are made to any of the assay data recorded in the database.

• No new mineral resource estimate is included in this report.

Location of data points

• Accuracy and quality of surveys used to locate drill holes (collar and down- hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

• Specification of the grid system used.

• Quality and adequacy of topographic control.

• All drill hole collars are picked up using accurate DGPS survey control. All down hole surveys are collected using downhole Eastman single shot surveying techniques provided by the drilling contractors.

• All Mount Magnet holes are picked up in MGA94 - Zone 50 grid coordinates.

• DGPS RL measurements captured the collar surveys of the drill holes prior to the resource estimation work.

Data spacing

• Data spacing for reporting of

• Exploration drill holes were planned on nominal

and

Exploration Results.

50m parting at Milky Way to better define ore

distribution

• Whether the data spacing and

continuity.

distribution is sufficient to establish

• Given the limited understanding of the target

Criteria

JORC Code explanation

Commentary

the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.

• Whether sample compositing has been applied.



horizon this spacing was considered adequate to help define the continuity of mineralisation, ahead of further step out drilling.

No sampling compositing has been applied within key mineralised intervals.

Orientation

• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.

• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.



The drilling is completed orthogonal to the

of data in

interpreted strike of the target horizon. No

relation to

diamond drilling has been completed by

geological

Ramelius on the targets thus far.

structure



Selected diamond twinning will be completed at

Milky Way in due course to confirm no drilling

orientation and/or sampling bias is present,

albeit the true orientation of the high grade

structure is yet to be confirmed.

Sample security

• The measures taken to ensure sample security.



Sample security is integral to Ramelius' sampling procedures. All bagged RC samples are delivered directly from the field to the assay laboratory in Perth, whereupon the laboratory checks the physically received samples against Ramelius' sample submission/dispatch notes.

Audits or reviews

• The results of any audits or reviews of sampling techniques and data.



Sampling techniques and procedures are reviewed prior to the commencement of new work programmes to ensure adequate procedures are in place to maximize the sample collection and sample quality on new projects. No external audits have been completed to date.

Criteria

JORC Code explanation

Commentary

Mineral tenement and land tenure status

• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.

• The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.





The results reported in this report are on granted Mining Lease (ML) 58/136 (Mount Magnet - Milky Way) owned 100% by Ramelius Resources Limited. The tenement is located on pastoral/grazing leases. Heritage surveys were completed prior to any ground disturbing activities in accordance with Ramelius' responsibilities under the Aboriginal Heritage Act.

At this time all the tenements are in good standing. There are no known impediments to obtaining a licence to operate in the area.

Exploration done by other parties

• Acknowledgment and appraisal of exploration by other parties.



Exploration by other parties has been reviewed and is used as a guide to Ramelius' exploration activities. Previous parties have completed shallow RAB, Aircore, RC drilling and shallow open pit mining at Milky Way plus geophysical data collection and interpretation. This report concerns only exploration results generated by Ramelius.

Geology

• Deposit type, geological setting and style of mineralisation.



The mineralisation at Milky Way is typical of porphyry hosted orogenic structurally controlled Archaean gold lode systems. The mineralisation is controlled by anastomosing shear zones passing through competent rock units, brittle fracture and stockwork mineralization is common on the competent porphyry rock. The bedrock Milky Way mineralisation currently extends over 100m strike and dips steeply eastwards along the eastern flank of the NE striking Milky Way Porphyry. The plunge of the system is yet to be determined.

Drill hole

• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill

  • elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar

  • dip and azimuth of the hole

  • down hole length and interception depth

  • hole length.

• If the exclusion of this information is justified on the basis that the

hole collar



All the drill holes reported in this report have

Information

the following parameters applied. All drill holes

completed, including holes with no significant

results as defined in the Attachments) are

reported in this announcement.



Easting and northing are given in MGA94

coordinates as defined in the Attachments.



RL is AHD



Dip is the inclination of the hole from the

horizontal. Azimuth is reported in magnetic

degrees as the direction the hole is drilled.

MGA94 and magnetic degrees vary by 0 in the

project area.



Down hole length is the distance measured

along the drill hole trace. Intersection length is

the thickness of an anomalous gold intersection

Criteria

JORC Code explanation

Commentary

information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

measured along the drill hole trace.

• Hole length is the distance from the surface to the end of the hole measured along the drill hole trace.

• No results currently available from the exploration drilling are excluded from this report. Gold grade intersections >0.1 g/t Au with up to 4m of internal dilution are considered significant in the broader felsic porphyry host rock as a strong demarcation between the mineralized porphyry and the non- mineralised ultramafic rocks is noted. The porphyry hosted results are reported in this report. Gold grades greater than 0.5 g/t Au are highlighted where good continuity of higher grade mineralization is observed.

Data aggregation methods

• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.

• Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

• The assumptions used for any reporting of metal equivalent values should be clearly stated.

• The first gold assay result received from each sample reported by the laboratory is tabled in the list of significant assays. Subsequent repeat analyses when performed by the laboratory are checked against the original to ensure repeatability of the assay results.

• Weighted average techniques are applied to determine the grade of the anomalous interval when geological intervals less than 1m have been sampled.

• Results are generally reported using a 0.1 g/t Au lower cut-off (as described above and reported in the Attachments) and may include up to 4m of internal dilution. Significant assays greater than 0.5 or 8.0 g/t Au are reported separately as contained within the broader lower grade intervals. For example the broader plus 1.0 g/t Au intersection of 6.5m @ 30.5 g/t Au contains a higher grade zone running plus 8 g/t Au and is included as 4m @ 48.5 g/t Au. Where extremely high gold intersections are encountered as in this example, the highest grade sample interval (eg 1.0m @ 150 g/t Au) is also reported. All assay results are reported to 3 significant figures in line with the analytical precision of the laboratory techniques employed.

• No metal equivalent reporting is used or applied.

Relationship

• These relationships are particularly

• The intersection length is measured down the

between

important in the reporting of

length of the hole and is not usually the true

mineralisation

Exploration Results.

width. When sufficient knowledge on the

widths and

• If the geometry of the mineralisation

thickness of the intersection is known an

intercept

with respect to the drill hole angle is

estimate of the true thickness is provided in the

lengths

known, its nature should be reported.

Attachment.