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.
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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.
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Rambler Metals & Mining Plc
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