TRIANGLE DOME GOLD PROJECT UPDATEANNOUNCEMENT 22 SEPTEMBER 2011HIGHLIGHTS

? A review of past work has flagged an alternate structural model for gold mineralisation ?

which offers new and potentially untested targets for gold mineralisation east of Telfer.

? Results of historical drilling around the dome structure are considered most encouraging and demonstrate the presence of a gold mineralising system.

? Narrow high-grade intercepts present in historical holes drilled in broad low grade gold halo.

Better historical drill intersections include 2m @ 10.6 g/t (NTR1902, 10-12m), 4m @ 9.2 g/t(TRC012 92 ? 96m) and 4m @ 4.6 g/t (TRC008 104 ? 108m).

? Proximity to the giant Telfer Au/Cu deposit and the presence of a granite intrusion to the northwest of the project area provides an important potential heat engine and/or source of mineralising fluids for a gold mineralising system.

? Field trip to assess the alternate model planned before the end of 2011 calendare year.

Ram Resources Limited (?Ram? or ?the Company?) is pleased to provide an update to shareholders on its Triangle Dome gold project in Western Australia.

E45/2726 ? Triangle Dome

The Triangle Dome (E45/2726) is located about 400 km east-southeast of Port Hedland and some 1300 km by air from Perth to Telfer, and about 27km to the east of the Telfer Gold Mine, operated by Newcrest Limited (Refer Figure 1).

Exploration Licence E45/2726 (wholly owned by Ram) was granted in July 2010. Ram engaged geological consultants, CSA Global Pty Ltd (?CSA?) to consolidate and review the existing data for E45/2726 and prepare recommendations for further work. The results of this work are summarised below.

Geological Setting

E45/2726 is underlain by the deformed Neo-proterozoic Era Lamil Group sedimentary rocks of the Punta Punta Formation and the Malu Formation (which includes the Telfer Member). During the Permian Period the area was covered by fluvio-glacial sediments of the Paterson Formation, which extend to the north into the Canning Basin. These Permian rocks have now been eroded, exposing Neo- proterozoic formations as low hills and ridges. The Neo-proterozoic rocks are poorly exposed in the tenement area. The Permian cover varies from 0m in the immediate Triangle Dome area, through to

75m depth in the east. (Refer Figure 2).

Historic exploration in the Triangle Dome area has identified mineralisation similar in character to that at the giant Telfer gold-copper deposit that was discovered in the early 1970s. Newcrest?s Telfer mine is reported to contain reserves of approximately 13.2 million ounces Au and 510 kt of contained Cu1

1 Source - Newcrest Mining Limited : Mineral Resource and Ore Reserve Statement dated 30 June 2010

The Triangle Dome prospect lies within the the structural dome that forms the key geological feature in the area and was flagged as having stratigraphic and structural similarities to the Telfer gold-copper deposit, although exploration to date has only identified sub-economic mineralisation.

Figure 1 ?Project Location

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Figure 2 ?Local Geology

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Past Work

E45/2726, and the area surrounding it, has been previously explored by companies such as Carr Boyd Minerals, BHP and Newcrest since 1974, underlining the attraction of the area and the common presence of anomalous gold in drilling. Previous exploration has been focused on the exposed outcrop at the Triangle Dome prospect since Permian cover up to 70 m thick, is interpreted to cover the rest of the tenement area.

Results of historical drilling around the dome structure are still considered most encouraging and clearly demonstrate the presence of a gold mineralising system. Better intersections include 2m @ 10.6 g/t (hole NTR1902, 10-12m), 4m @ 9.2 g/t (hole TRC012 92 ? 96m) and 4m @ 4.6 g/t (hole TRC008 104 ?

108m) as shown in Figure 3.

Past explorers considered these results inadequate to warrant further work, and interpreted poor mineralisation as being due to the absence of a key stratigraphic unit to host the gold.

However, CSA has highlighted the importance of competency contrast as a critical control on mineralisation and postulated that rocks apart from the Telfer Member may host contrasting brittle and ductile units (sandstones and shales respectively, for example) that can form a locus for gold mineralisation. Furthermore, the presence of actual gold-hosting features such as veins, the proximity to Telfer itself, and the presence of a granite intrusion to the northwest of the project area which provides an important potential heat engine and/or source of mineralising fluids for a gold mineralising system, all underpin the prospectivity of this project area.

Revised Structural Interpretation

A re-assessment of recorded structural data, such as bedding measurements, suggests that the Triangle Dome anticline, rather than being an upright tight fold, may actually be a moderately northeast verging (or leaning) anticline. This fold has shallow dipping strata (~ 30°) on its SW limb and steeper dips (~ 65?

80°) on its NE limb. The axial surface of this anticline would then dip with approximately 60° towards the

SW.

In a Telfer-style mineralisation scenario, mineralised reefs are centred along the fold hinge where dilation reaches its maximum. At the Triangle Dome, these Telfer-style reefs would then follow the plunge of the fold axis towards approximately 60° southeast and northwest ? a direction that has not been well tested by drilling so far. Additionally, stockwork zones (which play an important part in the mineralisation at Telfer) have not been fully considered at the Triangle Dome area.

This interpretation has been developed using only the limited data present in existing maps, and needs to be tested in the field. Structurally, the role of lower-order parasitic folds remains uncertain with respect to the geometry of the main anticline ? these small folds may be confusing the interpretation. More detailed mapping and collection of structural readings in the field are needed to address the attitude of the Triangle Dome anticline, check the type and orientation of gold hosting veins (both on old core and in outcrop) and validate this exploration model.

Inter-layered composite sandstone and siltstone rock packages are perceived to provide the necessary rheological competency contrast for ?saddle reef? type structures to form in the hinge zone of a fold structures. The Company is of the opinion that insufficient work has been conducted to determine whether favourable rocks are present in the area and what the controls on gold mineralisation are.

A final point to note is that a second domal structure is interpreted to be present in the southern half of

E45/2726. A field visit to check the nature of these outcrops is also needed.

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Figure 3-Historical Drilling E45/2726

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Conclusions and Further Work

The encouraging gold results demonstrate the presence of gold mineralisation, however it is possible that the structural setting is not fully understood.

The alternative structural model proposed by CSA suggests that Telfer-type lodes on the SW limb might be shallower and/or flatter-dipping than previously inferred. On the NE limb, gold mineralisation could have been missed because of its inferred steeper dips. Furthermore, it is possible that local facies variation has led to variable gold mineralisation emplacement and that continued exploration is warranted.

Ram has commissioned CSA to carry out the next stage of work, which will include:

?Re-log and collect structural data from the 3 core holes for the purpose of determining vein orientation and potential controls on mineralisation;

?Re-interpret cross sections along the drill - lines to see where gold intercepts occur and determine whether mineralisation is associated with veins, or as disseminated mineralisation;

?Geological mapping, focussing on structure, to identify the geometry of the regional fold and its vergence, the role of second order folding and general structural inventory of the area; and

?Undertake an interpretation of available geophysical data.

It is expected that this work will be carried out in the last quarter of the 2011 calendar year. This work programme is believed to be necessary in order to provide valuable data to determine if further drilling is warranted in the Triangle Dome area.

For further information please contact:Mike DrewManaging Director+61 417 969 995 mike.drew@ramresources.com.auDavid Tasker / James HarrisProfessional Public Relations+618 9388 0944 david.tasker@ppr.com.au james.harris@ppr.com.au

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by by Mr Graham Jeffress who is a member of the Australian Institute of Geoscientists and a Registered Professional Geoscientist. Mr Jeffress is a consultant to Ram Resources Limited and is employed by CSA Global Pty Ltd. Mr Jeffress has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking as a competent person as defined in the 2004 Edition of the " Australasian Code for Reporting Exploration results, Mineral Resources and Ore Reserves". Mr Jeffress consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements & Disclaimer

This document contains certain statements, which may constitute ?forward looking statements?. Such statements are only predictions and are subject to inherent risks and uncertainties, which could cause actual values, results, performance achievements to differ materially from those expressed, implied or projected in any forward-looking statements.

The interpretations and conclusions reached in this report are based on current geological theory and the best evidence available to the author at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for absolute certainty. Any economic decisions that might be taken on the basis of interpretations or conclusions contained in this report will therefore carry an element of risk.

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