RameliusResources Ltd. said July 26 that it has received commitments forA$25 million through the placement of 50,000,000 shares at 50 Australian centseach to develop its Western Australian gold projects.

Specifically, funds raised will be used to acceleratedevelopments at Water TankHill and Milky Way and drilling of brownfield targets at and to improve overallresource and mine life.

The accelerated development program at Milky Way canpotentially increase production up to 150,000 ounces in fiscal 2018 with acommensurate reduction in all-in sustaining cost.