• Drilling at Dalgaranga delivers exceptional results from Gilbey's Underground (West Winds and Four Pillars) and surface targeting (Plymouth and Sly Fox)
• Gilbey's Underground has potential to become the next underground mine at Dalgaranga
• Exploration Target of 2.1 - 4.7Mt at 1.5 - 2.0g/t for 100,000 - 300,000oz identified at Gilbey's Underground

Ramelius Resources Limited (ASX: RMS) is pleased to advise that drilling at Dalgaranga during the March Quarter delivered exceptional results from both Gilbey's Underground (West Winds and Four Pillars) and surface targeting (Plymouth and Sly Fox). The objectives of the exploration programs are to delineate new mineralization down-dip of the current Mineral Resource Estimates while also converting the existing Inferred Mineral Resources to advance studies on potential new open pit and underground mining opportunities at Gilbey's and the surrounding deposits. Drilling at Gilbey's Underground has returned significant intercepts, including 3.9m at 21.2g/t Au, 6.1m at 10.4g/t Au, 7.5m at 5.11g/t Au, and 7.7m at 5.94g/t Au, further enhancing the Company's confidence that Gilbey's Underground has the potential to become the next underground mine at Dalgaranga. An Exploration Target has been generated over the Gilbey's Underground area, estimating a range of 2.1 - 4.7Mt at 1.5 - 2.0g/t for 100,000 - 300,000oz. Exploration drilling at the Plymouth-Sly Fox area also returned promising results, including 16.5m at 2.45g/t Au, 1.0m at 8.96g/t Au, and 3.3m at 5.43g/t Au, with the objective of proving up an open pit cutback and potentially a third branch of underground mining. The Company's strategy of defining additional resources at these existing assets while making new discoveries within the northern corridor is progressing well, and the exploration results further enhance the potential for new opportunities to grow within the Dalgaranga operation.

The Company's exploration strategy, targeting high-grade opportunities, is delivering, and the early drill results further enhance the confidence that Gilbey's Underground (West Winds and Four Pillars) has the potential to become the next underground mine at Dalgaranga. The Company plans to commence further exploration of the Gilbey's main orebody from the Juniper decline in late April 2026, with the aim of incorporating the results into the next Mineral Resource Estimation update and forming part of the FY29 and FY30 production profile.