Here are the steps for setting up a dedicated memory on a different drive:

1) Click Start, click Run, type Regedit, and then click OK.
2) Locate and then click the following registry subkey: HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Control\CrashControl
3) On the Edit menu, point to New, and then click String Value.
4) In the details pane, type DedicatedDumpFile, and then press ENTER.
5) Right-click DedicatedDumpFile, and then click Modify.
6) In the Value data box, type <drive>:\<dedicateddumpfile.sys>, and then click OK.
Note <drive> is a placeholder for a drive that has enough disk space for the paging file, and <dedicateddumpfile.sys> is a placeholder for the dedicated file and the full path.
7) On the Edit menu, point to New, and then click DWORD Value.
8) Type DumpFileSize , and then press ENTER. 18432
9) Right-click DumpFileSize, and then click Modify.
10) In the Edit DWORD Value dialog box, click Decimal under Base.
11) In the Value data box, type the appropriate value, and then click OK.
Note The size of the dump file is in megabytes, make this the amount of RAM plus ~5 to 10 mb.
12) Right-click DumpFile, and then click Modify.
13) In the Value data box, type <drive>:\<memory.dmp>, then click OK.
Note :  <drive> is a placeholder for a drive that has enough disk space for the paging file, and <memory.dmp> is a placeholder for where the memory dump will be saved to.
14) Exit Registry Editor.

Note : If you have configured the page file as well as the memory dump on the same drive then make sure you have enough free space to accommodate the page file and also store the memory dump.