RMM.L Regulatory News (RMM)

19 January 2017

Rambler Completes DMS Trial Testing to Support

2,000 tonne per day Expansion Plan

London, England - Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (TSXV: RAB, AIM: RMM) ("Rambler" or "the Company"), a copper and gold producer, explorer, and developer today provides an update on the ore pre-concentration test work completed to date.

Dense Media Separation ('DMS') Project Highlights

As part of our ongoing technical evaluation of expanding the Ming Mine beyond the current planned 1,250 metric tonnes per day ('mtpd') mining rate, the Company has been investigating Dense Media Separation ('DMS') as a pre-concentration step before milling of the ore in the processing plant. In 2016 approximately 2,200 dry metric tonnes ('dmt') of run of mine low grade material (~0.8% copper) was processed. This material yielded 1,457 dmt of plant feed material with a grade of 1.14% copper. This represents a 1.4X increase of grade in this pre-concentration step recovering 93.6% of the total contained copper prior to milling. The result is consistent with similar testing completed in 2015 and the smaller scale external DMS test results as outlined in the table below.

Norman Williams, President and CEO, commented:

 "With the Phase II expansion into the LFZ well underway, the Company is now focussing its efforts on determining the economics of installing and operating a commercially sized DMS plant at the Ming Mine site in order to further optimize the economics of its' mining and milling complex on the Baie Verte Peninsula. DMS and shaft rehabilitation could further enhance project economics over the short and long term. Management is working towards compiling the necessary information and technical work for a full analysis during the fall of 2017."

Dense Media Separation Project - Ore Pre-concentration

The 2016 DMS program was focussed on further testing of the LFZ and MMS zones to determine the impact of scale up on performance of the DMS process. At Nugget Pond, the on-site demonstration plant operated from September to November 2016 and the same time period in 2015. During the 2016 programme, 2,237 dmt of feed material was processed from the Ming Mine. The feed materials included Lower Footwall Zone ('LFZ'), massive sulphide zones ('MMS'), and a blended feed of LFZ and MMS with copper grades averaging 0.80%. Over the 2016 test period, 1,457 dmt of pre-concentrate were produced, representing a 33% mass rejection, at a copper grade of 1.14%. In terms of grade improvement, this represents an upgrade ratio of 1.42. Copper recoveries in the DMS plant averaged 93.6% during the same period. The table below highlight the results of 2016 and 2015 onsite demonstration programmes along with previous external results. The Ming Mine pre-concentration test programmes have been developed, and partially funded, with the assistance of the Research & Development Corporation of Newfoundland and Labrador ('RDC').

With the Phase II expansion into the LFZ well underway, the Company is now focussing its efforts on determining the economics of installing and operating a commercially sized DMS plant at the Ming Mine site in order to further optimize the economics of its' mining and milling complex on the Baie Verte Peninsula.

The LFZ mineral resource estimate is currently 26 million tonnes with 1.47% copper at a copper cut off of 1.0%. (See Technical Report dated September 2015). Of this resource less than 10 million tonnes of material was evaluated and incorporated into the Phase II mine plan as a mineral reserve. Should DMS pre-concentration be implemented at the mine site, there may be an opportunity to re-evaluate the LFZ reserve criteria with the goal to convert more of the in-situ mineral resource into reserve.

Notes:

1. Demonstration plant testing was completed onsite at Nugget Pond with Rambler operators, overseen by Thibault & Associates Inc. Results show an average of multiple runs.

2. Pilot Plant testing was completed at SGS Canada Inc, overseen by Thibault & Associates Inc.

3. Variability testing was completed by Thibault & Associates Inc.

ABOUT RAMBLER METALS AND MINING

Rambler is a mining and development company that in November 2012 brought its first mine into commercial production. Rambler has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.

Rambler's ongoing Phase II plans are to increase mine and mill production to 1,250 mtpd by mid calendar 2017. This initial expansion has been fully funded through CEII's investment. Rambler will also continue advancing engineering studies on ore pre-concentration (DMS) and shaft rehabilitation with a view to further increase production to 2,000 mtpd at the Ming Mine. In addition, Rambler has initiated a detailed study at the mill with a goal to increase the gold recovery and production rate in the copper concentrator.

Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer/ Whales Back copper mines and has strategic investment in the former producing Hammerdown gold mine.

Rambler is dual listed in London under AIM:RMM and in Canada under TSX-V:RAB.

For further information, please contact:

Website: www.ramblermines.com 

Larry Pilgrim, P.Geo., is the Qualified Person responsible for the technical content of this release and has reviewed and approved it accordingly. Mr. Pilgrim is an independent consultant contracted by Rambler Metals and Mining Canada Limited. Tonnes referenced are dry metric tonnes unless otherwise indicated.

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements regarding copper, gold and silver forecasts, the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief are based on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, the price of and anticipated costs of recovery of, copper concentrate, gold and silver, the presence of and continuity of such minerals at modeled grades and values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimated prices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable security law