Placing Raises £2.7 Million

FOR: RAMBLER METALS & MINING PLC TSX VENTURE SYMBOL: RAB AIM SYMBOL: RMM March 31, 2010 Rambler Metals & Mining PLC: Placing Raises Pounds Sterling 2.7 Million LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND and LABRADOR--(Marketwire - March 31, 2010) - Further to the announcement of 26 March 2010, Rambler Metals & Mining PLC (TSX VENTURE:RAB)(AIM:RMM) (the "Company") announces today it has conditionally placed 8.6 million Ordinary Shares at 32 pence each (approximately Cdn. $0.49 per share) to raise approximately Pounds Sterling 2.7 million before expenses. The placing was oversubscribed. The Company intends to use the net proceeds realized from the private placement to provide additional working capital as the Company embarks on the construction phase required to bring its Ming copper- gold mine into production and to mitigate any risk should there be delays in environmental permitting. Ocean Equities Limited and Seymour Pierce Limited have been retained as joint-brokers for the placing on a reasonable endeavours basis and will be paid a 5% commission on funds they raise. The placing will be subject to a placing agreement to be entered into between the Company, Ocean Equities Limited and Seymour Pierce Limited, and approval of the TSX Venture Exchange. Admission of the Ordinary Shares to trading on AIM is expected to take place on 6 April 2010. Following the placing there will be (95,485,000) Ordinary Shares in issue. George Ogilvie, President and CEO commented: "The strengthening of the Company's treasury at this time is a prudent measure as we near the Environmental Application for the project. Under our current timelines we envisage the project being released in 2010. At this time the third tranche of funding of US$13M from Sandstorm Resources becomes available for draw down and allows Rambler to commence its construction campaign. Although we are confident such a timeline is realistic the raising of additional working capital at this time mitigates any risk to the Company should delays occur." About Rambler Rambler was founded in 2004 when Altius Minerals Corporation ("Altius"), a Newfoundland and Labrador resource company, contributed to Rambler's asset base with an option to acquire and develop the Ming Mine. Following the acquisition of the Ming Mine, Rambler, listed on London AIM in 2005 and Toronto TSX-V in 2007. The Ming property had been a former underground copper and gold producing mine that ceased production when the deposit reached a then third party property boundary. This neighbouring property was subsequently consolidated before being brought into Rambler's portfolio. Rambler now owns a 100% interest in the property. The area where the mine is located is a former mining centre and subsequently good existing infrastructure including roads, fresh water, hydro, access to a working port while the town of Baie Verte, population 1,300 is located 17km away. Over the last several years Rambler has been exploring on the property leading to the publication of two NI43-101 resource statements, the discovery of mineralized lenses and the extension of pre- existing mineralized lenses. Today all mineralized lenses remain open in multiple directions while, importantly, the deposit has not been cut-off at depth. The underground workings have been dewatered and services including air, water and electrical re-installed. In October 2009, Rambler purchased an operational gold hydrometallurgical mill, Nugget Pond, which is situated approximately 40km from the Ming Mine. Rambler intends to expand the mill so that is capable of handling massive sulphides from the mine to produce a copper concentrate with gold and silver as by- products as well as recover any free gold. Rambler is about to embark on the construction phase of the project with the intention of bringing the Ming Mine into production in 2011 following the environmental release of the project. 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 management's expectations or estimates of future performance constitute "forward-looking statements." Such forward-looking statements include, without limitation, estimates regarding timing of future development and production. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. 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. These forward-looking statements are made as at the date hereof and Rambler 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 securities law. For a more detailed discussion of such risks and other factors, see Rambler's latest filings with Canadian securities regulators. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Rambler Metals and Mining Canada Limited George Ogilvie, P.Eng. President and CEO 709-532-4990 OR Rambler Metals & Mining Plc Leslie Little Company Secretary +44 (0) 14-8341-9942 www.ramblermines.com OR Seymour Pierce Limited Nandita Sahgal +44 (0) 20-7107-8000 OR Pelham Bell Pottinger Klara Kaczmarek +44 (0) 20-7337-1524 OR Ocean Equities Limited Guy Wilkes +44 (0) 20-7786-4370 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. -0- Rambler Metals & Mining Plc
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