Progress Update at Rambler's Copper-Gold Pr...
FOR: RAMBLER METALS & MINING PLC
TSX VENTURE SYMBOL: RAB
AIM SYMBOL: RMM
August 24, 2011
Progress Update at Rambler's Copper-Gold Projects
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - Aug. 24, 2011) - Rambler Metals and
Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') is pleased to provide this progress update
on the Ming Mine construction and the Tilt Cove operation, Baie Verte Peninsula.
HIGHLIGHTS
Ming Mine
/T/
-- Project construction remains on schedule with mill start-up and
commissioning planned for October 2011.
-- Development continuing to ore bodies in preparation for mine stoping.
-- Concentrate storage facility at Goodyear's Cove Port scheduled to be
completed in October 2011.
-- 1806 Zone definition drilling returns grades of 1.58% copper, 9.85 g/t
gold, 100.37 g/t silver, 1.73% zinc over 16.60 meters.
/T/
Tilt Cove East Mine
/T/
-- A total of 1,041 gold ounces have been recovered from the operation with
an average gold price realized of CAD $1,643. The total all in cash cost
is estimated at CAD $974 per ounce providing Rambler with a net profit
of approximately CAD $720,000 to date.
-- Due to sodium cyanide supply issues the project has been suspended until
a secure supply can be sourced.
/T/
George Ogilvie, President and CEO commented:
"The Company continues its progress towards first production from the Ming Mine in the second half of this year
with mill commissioning and start-up anticipated in October. Over the last 2 months we've continued to build up
our labour force which now stands at 110 with only a few key positions remaining to be filled. In-fill drilling
of our first stoping block in the 1806 zone has returned encouraging grades, over good widths that should
improve the reserve in this block. Any additional gold at a time of record gold prices will only benefit the
Company.
"Our supplier of sodium cyanide, a chemical used for the recovery of gold, declared Force Majeure which has
subsequently led to a suspension of the Tilt Cove operations until an additional source can be found. With
20,000 to 30,000 tonnes of material remaining for processing Rambler will re-evaluate the possibility of re-
starting the Tilt Cove operation once an alternative source can be secured."
Ming Copper Gold Mine
Underground development is continuing at the Ming Mine with longhole drilling of the production stopes
beginning before month end. The first stope from the 1806 zone has been estimated to contain 18,775 tonnes of
ore grading 4.97 g/t gold and 0.51% copper, which is better than the overall resource of the 1806 Zone at 3.96
g/t gold and 0.60% copper. Definition diamond drilling for this zone has returned good grades over significant
widths. The results from this program are reported in the table below.
Table 1: Definition Diamond Drill Program of the 1806 Zone.
/T/
----------------------------------------------------------------------------
----------------------------------------------------------------------------
From To Length Cu Au Ag Zn
Drill Hole (m) (m) (m) (%) (g/t) (g/t) (%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MMUG11-01 2.80 17.44 14.64 0.35 3.56 40.15 1.43
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including 15.37 16.79 1.42 2.51 9.59 188.65 0.25
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MMUG11-02 1.80 18.40 16.60 1.58 9.85 100.37 1.73
----------------------------------------------------------------------------
including 15.30 17.90 2.60 6.14 14.02 244.86 6.64
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MMUG11-03 1.20 15.60 14.40 0.45 2.70 30.17 1.24
----------------------------------------------------------------------------
including 11.20 15.60 4.40 1.18 6.35 75.01 2.40
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MMUG11-04 0.20 16.90 16.70 0.51 2.46 13.83 0.59
----------------------------------------------------------------------------
Including 0.20 1.20 1.00 3.30 2.72 54.80 1.38
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MMUG11-05 0.10 13.40 13.30 0.42 3.20 23.24 0.58
----------------------------------------------------------------------------
Including 0.10 6.40 6.30 0.73 4.53 38.58 0.91
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MMUG11-06 0.00 17.20 17.20 0.13 1.08 9.43 0.66
----------------------------------------------------------------------------
Including 0.00 2.50 2.50 0.48 1.24 17.78 2.12
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MMUG11-07 0.10 9.70 9.60 0.05 3.81 20.16 1.40
----------------------------------------------------------------------------
----------------------------------------------------------------------------
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(i) All reported samples are composited and uncut.
(i) Drill intercepts quoted are core lengths; true widths are estimated to
be 90% to 95% of the intersected core lengths.
/T/
Work on the concentrator at Nugget Pond is continuing with installation of the super cladding, electrical and
piping. All the major components are now in place.
With the suspension of the Tilt Cove operation preparations are now being made for the final transfer of the
hydromet crushing and grinding circuit into the copper concentrator. Once this transfer is complete the
hydromet facility will only be available for improved gold recovery for the concentrator tails. This setup will
remain in place for the next 12 months while the company evaluates the various scenarios to optimize the
crushing and grinding circuit so that 1,000 mtpd can be achieved through the concentrator.
The concentrate storage facility which will have a 9,500 wmt storage capacity is proceeding on schedule and is
anticipated to be completed by early October. First concentrates are also expected to begin arriving in October
with the first 5,000 wmt concentrate shipment scheduled for 1Q 2012.
Tilt Cove - East Mine Deposit
During the 36 days of crushing a total of 20,882 wet metric tonnes of material were processed resulting in a
daily average throughput of 580 mtpd. While the dilution from barren rock brought the average grade down to
1.79 g/t gold, the project recovered over 1,000 ounces of gold at an average cost of $974 per ounce realizing a
net profit of approximately CAD $720,000.
Due to the major North American supplier of Sodium Cyanide declaring Force Majeure Rambler has been forced to
suspend the milling of the Tilt Cove material until an alternative source can be found.
Between 20,000 and 30,000 tonnes remain in the stockpile at Tilt Cove and once a secure supply of reagents can
be sourced the Company will re-evaluate to potential of continuing this program.
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 plc.
All tonnes reported are dry metric tonnes.
Forward-Looking Statement:
Some of the statements contained herein may be forward-looking statements, which involve known and unknown
risks and uncertainties. Without limitation, statements regarding future plans and objectives of the Company
are forward-looking statements that involve various degrees of risk. It is important to note that the Company's
actual results could differ materially from those in such forward-looking statements.
-30-
FOR FURTHER INFORMATION PLEASE CONTACT:
Rambler Metals & Mining Plc.
George Ogilvie, P.Eng.
President and CEO
709-800-1929 or 709-800-1921
OR
Rambler Metals & Mining Plc.
Corporate Office
+44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
www.ramblermines.com
OR
Seymour Pierce Limited
Nandita Sahgal / Jeremy Stephenson
+44 (0) 20-7107-8000
OR
Pelham Bell Pottinger
Charles Vivian
+44 (0) 20 7861 3126
OR
Pelham Bell Pottinger
Philippe Polman
+44 (0) 20 7861 3921
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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