Investor Presentaiton
PENNY - IN FULL PRODUCTION & RESOURCE EXTENSIONS DELIVERED
47 600mN
PENNY UNDERGROUND MINE 2023
48 200mN
North
Penny West Pit
Mineral Resources - 430kt @ 18.3g/t for 250koz¹
Ore Reserve - 480kt @ 14.0g/t for 210koz¹
➤ Stoping well underway, multiple fronts open
➤ Haulage now matching mine production
UG drilling producing excellent results to date
Updated Mineral Resources²
Penny North - 320kt @ 28 g/t for 290koz
Penny West 120kt @ 7.6 g/t for 30koz
Total 440kt @ 22 g/t for 320koz
28% increase from 30 June 2023 Resource Statement
Updated Mine Plan and Ore Reserve completed
by the end of calendar 2023
South
1.9m @ 3.45g/t Au
1.3m @ 57.5g/t Au
100mbs 1.3m @0.45g/t Au
1.1m @ 16.2g/t Au
Below Surface
Portal
PENNY NORTH
RESOURCE
Drill Cuddy
4.9m @4.37g/t Au
3.9m @8.55g/t Au
[email protected]/t Au
2.1m @ 3.72g/t Au
Om
100mbs-
3.3m @49.1g/t Au
4.0m @ 15.8g/t Au
1.1m @ 3.98g/t Au
200mbs
200mbs-
0
1.1m @ 1.46g/t Au
5.0m @ 10.8g/t Au
0.7m @ 1.24g/t Au
3.5m @ 7.64g/t Au
2.1m @ 5.55g/t Au
6.1m @ 44.5g/t Au
2.0m @ 1.30g/t Au
2.0m @ 5.09g/t Au
1.0m @ 0.63g/t Au
1.7m @ 106g/t Au
2.1m @ 131g/t Au
300mbs
300mbs-
о
PENNY WEST
RESOURCE
1.4m @ 6.36g/t Au
°
4.5m @ 75.2g/t Au 5.0m @ 36.8g/t Au
Diamond Drilling Programme
Maximum Au Results
Block Model Grade
Planned Drill Pierce Point
Assays Awaited
> 20g/t Au
> 20g/t Au
10 - 20g/t Au
-400mbs
100m
Local Grid
2mRecent Result
2mPrevious Result Reported
5-10g/t Au
• 2-5g/t Au
⚫ 0.5-2g/t Au
⚫0-0.5g/t Au
10-20g/t Au
5-10g/t Au
2-5g/t Au
400mbs
0.5 - 2g/t Au
0-0.5g/t Au
Penny 021
RAMELIUS
RESOURCES
¹See RMS ASX Release "Resources and Reserves Statement 2023", 14 September 2023
2See RMS ASX Release "Penny Gold Mine Update", 15 September 2023
MACQUARIE WESTERN AUSTRALIA FORUM NOVEMBER 2023
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