RMM.L Regulatory News (RMM)

14 September 2017

Rambler's Surface Drill Program Intersects Copper Mineralization at Depth Returning 40 meters of 1.42% Cu

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 is pleased to announce that the first hole from its surface exploration program has been completed. The drill hole has confirmed the depth extension of the two ores zones presently being mined on the property, the Ming Massive Sulphide ('MMS') and the Lower Footwall Zone ('LFZ'). Mineralized intersections include 6.30 meters of 2.85% Copper ('Cu') with 2.99 g/t Gold ('Au') in the massive sulphides; and 40 meters of 1.42 % Cu in the LFZ, including 7.57 meters of 2.27% Cu. This exploration hole was successful in confirming continued mineralization at depth with improved grades and thicknesses.

Exploration Update

· The diamond drill hole was drilled from surface to a depth of 1771 meters, returning mineralized intersections in both the high grade massive sulphides and the Lower Footwall Zone.

· Highlights of the first planned drill hole include:

Ming Massive Sulphides ('MMS')

Upper lens 1.02 meters of 1.63% Cu and 1.23 g/t Au

Lower lens 6.30 meters of 2.85% Cu and 2.99 g/t Au

Lower Footwall Zone ('LFZ')

40.00 meters of 1.42% Cu

Including 6.00 meters of 2.51% Cu and 7.57 meters of 2.27 % Cu

· These drill intersections are approximately 290 meters from the nearest drill hole up-plunge. Five additional holes are planned to explore for new mineralization over an area of one kilometer below the current known reserves.

Norman Williams, President and CEO, commented:

"The mineralized intersections reported from this first surface drill hole are very encouraging. This drill hole is ~300 meters from the known reserves and supports our understanding that grades and thickness of the LFZ are improving at depth. Continued drilling throughout the fall will be targeted to further expand the LFZ mineralization as we work through our Phase III engineering studies.

"In addition to the LFZ, this surface diamond drill hole also intersected the high grade massive sulphide zone approximately 640 meters down plunge from an active mining front in the Ming South Zone. Confirmation of the depth extension of the parallel high grade massive sulphide zones, including the Ming North, Ming South, 1806 and the 1807 Zones, with further drilling could allow for the continuation of the blending strategy currently being deployed at the operation. "As the Company continues to work on a potential Phase III expansion scenario, with an optimized mine and mill production plan, further success from this exploration program will play an important role in confirming the potential beyond the known mineralized trend. The drill program is anticipated to continue over the remainder of the year and project updates will be provided as information becomes available."

Lower Footwall Zone Surface Exploration

A directional surface drilling program has been initiated to test the down plunge continuity of the Lower Footwall Zone and Ming South massive sulphide zone, up to one kilometer beyond the currently known mineralized trend. The drilling collared in and penetrated the Upper Pacquet Harbour mafic sequence to the 1326 meter depth where it intersected the hanging wall/ footwall horizon. This horizon defines the contact with the underlying Rambler rhyolite and is host to the deposit we are mining and the 5 other past producing ore bodies in the Rambler camp. The massive sulphide lenses discovered in the drill hole are interpreted to be down plunge of the Ming South Zone and down plunge of an area with ongoing development headings. The two sulphide lenses returned grades of 1.63% Cu and 1.23 g/t Au over 1.02 m, and 2.85% Cu and 2.99 g/t Au over 6.30 m. The Lower Footwall Zone was intersected below 1371 meters and was represented by increasing chlorite alteration in association with increasing chalcopyrite stringers, all cut by un-mineralized mafic dykes. The grades returned from the LFZ included, 5.72 m of 1.46% Cu, 40.0 m of 1.44% Cu, 3.74 m of 2.38% Cu and 10.0 m of 1.35% Cu.

Drill hole R17-25a was completed to a total depth of 1771 meters and is the first of the planned six hole surface exploration drilling program testing the depth extension of the deposit. The second hole, R17-25b, has been cut-off from the RM17-25a parent hole at a depth 890 m utilizing Devico directional drilling. This second hole will further test the Ming South in the MMS and LFZ an additional 200 meters down plunge of R17-025a. Please see Appendix I for a complete listing of all assays received to date for this diamond drill hole.

Table 1 - Highlighted Significant Assay Results from RM17-25a

(See Note 1 and Appendix I below for further details)

Figure 1 - 3D Isometric of the Ming Mine with 2017 Surface Drill Holes

http://www.rns-pdf.londonstockexchange.com/rns/6941Q_1-2017-9-13.pdf 

Note 1: Results reported are accurate and reflective as of the date of release. The Company performs regular auditing and reconciliation reviews on its processes following which past results may be adjusted to reflect any changes. Core lengths can vary depending on the angle the drill hole intersects the mineralized body. True widths are estimate to range between 90-95% of core lengths.

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.

Rambler maintains an ongoing quality assurance and quality control program ('QA/QC') to ensure that exploration data collected adheres to all compliance regulations and CIM best practices. Rambler maintains written field procedures and has had independent audit and verification geological database and all data related to drilling, surveying, sampling and assaying.

Rambler's QA/QC program includes insertion of blanks, duplicates and standard samples in regular intervals. Analytical control measures for the drilling program involve both internal and external laboratory check samples to ensure that data received and used are accurate and reliable. Rambler has integrated the database management program MX Deposit as an effective and efficient way to manage assay data as well as QA/QC tracking and reporting.

All core samples assayed and pertaining to this report were completed by Eastern Analytical Limited located at Springdale, Newfoundland. Eastern Analytical Limited is an ISO 17025 accredited laboratory and bears no relationship to the Rambler.

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.

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.

Rambler's ongoing Phase II plans are to increase mine and mill production to 1,250 mtpd by the fall 2017. This initial expansion has been fully funded through CEII Mining's investment. Rambler will also continue advancing Phase III engineering studies with a view to further increase production to 2,000 mtpd at the Ming Mine.

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 

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.

APPENDIX I - Assay listing for RM17-25a