RMM.L Regulatory News (RMM)

14 April 2020

Rambler Provides Statement on COVID-19 and Management Controls in Place

London, England - Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or the "Company"), a copper and gold producer, explorer, and developer, reports today on business continuity protocols in place to manage ongoing risks posed by the Coronavirus ("COVID-19") pandemic.

Management has taken measures to reinforce safe work procedures, and all site leadership teams remain committed to the health and wellbeing of employees, contractors and their families. The priority remains to be the safety of workplaces and the ability for employees to conduct their work safely.

Summary of Actions taken at Rambler

· Remote Working. Office-based team members in Canada and the UK are working from home, until further notice.

· Travel. All non-essential travel has been stopped.

· Management Team. The management team is focused on keeping the business operating safely and maintaining the health and well-being of our team members, our families and our communities.

· Self-Isolation: Instituted self-isolation/quarantine measures for anyone who has been in close contact with a confirmed case of COVID-19, or who has travelled to a location with high or moderate risk of COVID-19.

Andre Booyzen, President and CEO commented. "These are really challenging and fast changing circumstances we find ourselves in, and we have had to act quickly and adjust our work practises and behaviours. I want to say a big thank you to our teams for their input, dedication, commitment and efforts in making sure every one of us complies with the new protocols and the way we work. We will ensure that we keep on making the necessary adjustments to our operations that will help keep not only our teams, but also or families and our communities, safe and healthy. Nothing is more important to us."

The Coronavirus outbreak is present worldwide, but specifically in Canada where the Company's operations are situated, and the United Kingdom where corporate support staff are located. To date, not one of our team and contractors have been diagnosed with having contracted the virus. Rambler has put in place business continuity protocols and procedures at the Canadian operations. The UK offices are now closed, and team members are working from home. This is in accordance with guidelines and requirements from the authorities in the UK and Canada. Rambler management will continuously monitor the status of the COVID-19 outbreak in all these countries and we will change our protocols and plans as needed.

The Company confirms sites are abiding by all local government guidelines and will work in cooperation with the relevant public health authorities, as required.

The following protocols are in place at our Ming Mine and Nugget Pond Concentrator Plant, situated in Newfoundland, Canada:

· The operational sites have created clear policies and protocols for any team members showing signs of illness. Team members or contractors may not come to sites if they display symptoms of COVID-19, colds or influenza;

· Rambler is engaging with all team members, and there is continuing and transparent communications regarding COVID-19 protocols, and members are being provided with the relevant public health literature and notifications;

· Where practical and possible, team members are required to work from home. We have implemented flexible work arrangements, so that we reduce or eliminate physical contact between people, and we comply with social distancing guidelines.

· All training has been postponed. All team meetings have been stopped, unless critical to operations. Where possible, employees are meeting virtually, and limitations on face-to-face contact are in place;

· Rambler has created improved hygiene and sanitization protocols and there is an increase in the frequency of cleaning of offices, facilities, vehicles and equipment. There are now regular communications with team members on proper sanitary practices and physical distancing;

· Risk management processes for crew shift changes have been implemented. This is to ensure physical distancing protocols and to reduce the movement of employees. This includes staggering of shift changes and crew starting/ending hours;

· Rambler has instituted a company-wide restriction on all air travel to limit risk of exposure. Only in exceptional circumstances will travel be permitted, if deemed to be essential. Isolation procedures are in place and monitored, for any team member or contractor coming into our local community, be it from the Canadian mainland or abroad.

· The sites are required to restrict all visitors to essential visitors only, and then only if they are on site for important and time-critical activities that are work-related; and

· All government guidelines with respect to reporting of symptoms related to COVID-19 to public health authorities will be followed.

The support staff in the UK are managed and staffed by a third-party contractor. They are following all relevant public health guidelines with respect to COVID-19, and they have implemented protocols and policies for their employees. The Company confirms it will remain in contact with its customer to ensure continuation of concentrate shipments. Critical spares and supplies are regularly reviewed, and where possible, sufficient supplies and stock are in place. Rambler is managing the current impacts of the pandemic carefully, including the possible adjustment of forecasts and plans for 2020. Future and possibly even more severe impacts could be possible and these may include commodity price fluctuations, stricter regulations, supply chain interruptions, workforce availability and economic demand and hardship. The management team will monitor developments closely and is in the process of developing contingency plans based on possible scenarios.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

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.

Following the completion of its recent productivity improvement initiative Rambler's focus is on sustaining mine and mill production at over 1,350 metric tonnes per day at 2% Copper at the Ming Mine.  With a return to profitability and positive cash flow, Rambler will continue advancing engineering studies and capital asset additions to further increase production. 

Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer/Whales Back copper mines.

Rambler is listed in London under AIM:RMM.

For further information, please contact:

Website: www.ramblermines.com 

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 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.