Drilling Report

Rambler Metals & Mining PLC 06 February 2007 Rambler Metals & Mining Plc 6th February 2007 Rambler Provides Summary Overview of Exploration Success London, England & Baie Verte, Newfoundland and Labrador - In conjunction with its announcement earlier today of the listing of its ordinary shares on the TSX Venture Exchange, Rambler Metals and Mining plc (TSXV:RAB, AIM:RMM) is pleased to provide a summary overview of the exploration results from its Rambler copper-gold project located in Newfoundland and Labrador. The Rambler project covers the historic Ming and Ming West copper-gold mines on the Baie Verte Peninsula on the island of Newfoundland. Exploration work carried out by RMM since its listing on the London AIM market in early 2005 has primarily focused on evaluating and delineating the Ming Footwall deposit. This work has also resulted in the discovery of the Upper Ming Footwall deposit, and has confirmed extensions to both the historic Ming and Ming West deposits. All of these deposits are located within reasonable proximity to the historic underground mine infrastructure, which the company is about to begin dewatering and rehabilitating. Ming Footwall Zone The Ming Footwall Zone (MFZ) is located approximately 100 metres below and generally parallel to the historic Ming Mine workings. To date, the deposit has been identified along a 1500 metre plunge length and has an apparent width of 50 to 150 metres. The deposit thickness generally exceeds 20 metres, up to 70 metres and is being evaluated as a potential low-cost, bulk underground mining operation. Highlight drill results from the MFZ include: Hole From To Length (m) Length Cu Au (ppb) (m) (m) (feet) (%) RM04-03 913.07 925.21 12.14 39.83 2.32 165 RM04-03 934.64 956.74 22.10 72.51 2.26 79 RM06-03b 891.70 898.10 6.40 21.00 3.40 208 RM06-03b 903.80 914.80 11.00 36.09 2.44 95 RM06-03b 922.20 940.20 18.00 59.06 2.28 95 RM06-03e 934.65 953.38 18.75 61.52 1.89 127 including 934.65 943.83 9.18 30.12 2.70 143 RM04-04 1092.09 1099.45 7.36 24.15 1.96 71 RM06-04b 1070.00 1085.00 15.00 49.21 2.44 89 RM06-04b 1107.50 1121.00 13.50 44.29 2.45 91 RM06-04c 1061.50 1098.70 37.20 122.05 2.23 84 RM06-04c 1111.00 1130.63 19.63 64.40 2.89 296 including 1114.02 1124.59 10.57 34.68 3.73 496 RM06-04d 1074.00 1092.00 18.00 59.06 2.55 244 including 1074.00 1084.50 10.50 34.45 3.16 271 RM06-04e 1071.50 1089.00 17.50 57.41 2.00 124 RM06-04e 1094.90 1106.90 12.00 39.37 2.04 122 RM06-04e 1118.00 1135.40 17.40 57.09 3.18 214 RM06-04e 1162.00 1168.00 6.00 19.69 2.24 65 RM05-08 1220.65 1232.89 12.24 40.16 1.92 185 including 1220.65 1226.45 5.80 19.03 2.61 248 RM06-17 782.50 788.50 6.00 19.69 2.33 108 Upper Ming Footwall Deposit The Upper Ming Footwall Deposit is a new high-grade discovery that sits stratigraphically between the Ming Deposit and the Ming Footwall Zone. It has been intersected thus far along a 150 metre plunge length where it ranges between 6.0 and 14.4 metres in thickness. The newly discovered deposit is both open across strike and down plunge. Highlight drill results are as follows: Hole From To Length (m) Length Cu Au(ppb) (m) (m) (feet) (%) RM06-04f 974.00 980.00 6.00 19.68 14.55 1614 RM06-04g 966.10 980.50 14.40 47.23 5.16 471 including 967.50 970.80 3.30 10.82 14.60 1370 RM06-04h 962.60 972.50 9.90 32.47 3.51 388 including 968.60 970.60 2.00 6.56 11.56 1335 Ming and Ming West Deposits The historical mine production from the Rambler Project originates from the Ming and Ming West massive sulphide deposits. These parallel, plunging deposits are on the same stratigraphic horizon and separated by 250 metres. Mining was carried out from surface to approximately 750 metres vertical depth along a 1500 meter plunge length. A decline that extended to 820 vertical meters and a shaft that extended to 650 vertical meters facilitated this production. Historical production from the Ming Deposit was estimated at 2.1 million tons grading 3.5% Cu and 2.4 g/T. Mining ceased in 1982 when workings reached an historic neighbouring property at a time of low copper prices. The properties have since been consolidated and now comprise part of the Rambler Project. At the time of mine closure it was estimated that 350,000 tons of 3.4% Cu and 1.7 g/T Au remained in the Ming Deposit and that 55,000 tons of 6.5% Cu and 1.1 g/T Au remained in the Ming West Deposit (near the 1800 level) adjacent to the property boundary. These estimates are historical in nature and are not NI-43-101 compliant and therefore should not be relied upon (see notes below). Recent drilling undertaken by Rambler Metals and Mining to test for further extensions of these deposits across the former property boundary has resulted in the discovery of interpreted extensions to both of these deposits. Highlight drill results from these deposit extensions are described below. Hole From To Length (m) Length Cu Au(ppb) (m) (m) (feet) (%) RM03-02 1138.50 1141.00 3.53 11.58 3.26 3022 RM05-08 1024.71 1029.48 4.77 15.65 1.96 8787 RM05-15 1054.20 1059.00 4.80 15.74 2.90 589 RM06-04e 885.50 897.50 12.00 39.36 3.18 3835 A complete listing of RMM drill intersections to date, as well as corresponding maps and figures can be found at www.ramblermines.com. Delineation and exploration drilling continues at the Rambler Project employing two drill rigs both of which are successfully utilizing directional drilling technology. It is anticipated that new drilling results will be available for release within the next week. As underground dewatering and rehabilitation advances throughout the year a con-current program of underground drilling will be initiated. The underground drilling program will greatly increase the rate of delineation drilling of the deposits which in turn will allow Rambler to more quickly evaluate potential mining scenarios. George Ogilvie VP & COO Rambler Metals and Mining Canada Limited Leslie Little, Company Secretary Rambler Metals & Mining Plc Tel No: 020-7661-8104 Mark Graves, P.Geo. is the Qualified Person responsible for the technical content of this release. Mr. Graves is an employee of Rambler. Drill intercepts quoted are core lengths; true widths are estimated to be 90% to 95% of the intersected core lengths. National Instrument 43-101 compliance information regarding sampling and analytical protocols pertaining to the Rambler Project can be accessed via the following link: http:// www.ramblermines.com Mineral exploration on the Rambler property is being conducted by RMM personnel. All drill holes have produced 47.6 millimetre diameter (1.875-inch) NQ diamond drill core. The drill core is descriptively logged on site, aligned, marked for sampling and then split in half, longitudinally, using a diamond saw blade. One-half of the core is preserved in core boxes for future reference. The samples comprising the other half of the core are bagged, sealed and delivered directly to the analytical laboratory by RMM personnel. Base metal-bearing samples are nominally 1 metre to 1.8 metres (3.28 to 5.90 feet) in length except where specific geologic parameters require that a smaller interval be sampled. Samples with suspected precious metal content are nominally one metre or less, depending on the geological circumstances. The sawed samples are delivered directly to Eastern Analytical Limited in Springdale, Newfoundland by RMM personnel where they are dried, crushed and pulped. Samples are crushed to approximately -10 mesh and split using a riffle splitter to approximately 300 grams. The sample split is pulverized using a ring mill to approximately 98% minus 150 mesh. In addition to regular samples, blank samples and quarter-split samples are also submitted for crushing/pulping. The sample pulps are picked up directly at Eastern Analytical Limited by RMM personnel and returned to the project site at which point analytical standard samples and duplicate samples are inserted into the sample stream. The quality control procedures utilized by RMM have been approved by Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA). Their review was the basis of a technical report written by Scott Wilson RPA on the Rambler project conforming to NI 43-101 Standards of Disclosure for Mineral Projects. All sample rejects are also retrieved from Eastern Analytical by RMM personnel and securely stored by RMM. The sample pulps are shipped by courier to Activation Laboratories Ltd. in Ancaster, Ontario for analysis. A typical analysis consists of three, industry-standard components: (1) an aqua regia digestion followed by a 34 element ICP analysis, (2) a gold assay consisting of a one assay ton fire assay with finish by atomic absorption, and (3) an assay of specific base metals by aqua regia digestion followed by atomic absorption spectroscopy for those elements which exceed the limits of ICP accuracy. Check assays for the Rambler project are being conducted by ALS Chemex, using industry-standard techniques posted on their website. Check assays are also routinely performed at Eastern Analytical Limited. The drill program and sampling protocol are being supervised by Mark Graves, P.Geo.; a Qualified Person as defined under the Canadian Securities Administrators' National Instrument 43-101. Historical Estimates For the Ming Mine, the most comprehensive historical estimates available derive from a review prepared in 1982 by D.M. Burton ('Burton'). In 1997 Canamera Geological Ltd. ('Canamera') was commissioned to do a feasibility study on the Rambler Property for Ming Minerals and drew heavily on Burton's work. Canamera reported remaining estimates on the property. Canamera concluded that the outlined mineral resource would not support an economically feasible operation. Note that these estimations and resources definitions are not in compliance with Canada's NI 43-101. Burton (1982) classified the MFZ resources as 'Possible'. The other resources have not been classified by Canamera (1997). These estimates are historical estimates and which should not be relied upon. See the technical report on the Rambler property available at www.sedar.com for the full details and qualifications regarding these estimates. The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. This information is provided by RNS The company news service from the London Stock Exchange
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