Rambler Begins Trucking Copper Concentrate Foll...
FOR: RAMBLER METALS & MINING PLC
TSX VENTURE SYMBOL: RAB
AIM SYMBOL: RMM
May 30, 2012
Rambler Begins Trucking Copper Concentrate Following Start-up And Commissioning of its New Floatation Facility
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - May 30, 2012) - Rambler Metals and Mining plc
(TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') is pleased to announce the commencement of copper concentrate
production with ore from its 100% owned Ming Copper-Gold Mine ("Ming Mine") in Newfoundland and Labrador's Baie Verte
Peninsula, Canada.
COPPER PRODUCTION HIGHLIGHTS
-- On 14 May 2012 the Company officially began its copper production. First
concentrates have now been trucked and are being stored at the port
shipping warehouse
-- To date, all material processed has been commissioning ore from the
Lower Footwall Zone with an average head grade of 1.30% copper.
Flotation kinetics have been fast with an average throughput of 35
tonnes per hour
-- Mill recoveries are averaging 95%, producing a clean copper concentrate
grading between 25% and 31%
-- 12,132 tonnes of lower grade ore remain stockpiled for commissioning
grading 1.39% copper. Followed by 3,022 tonnes grading 4.53% copper and
another 2,769 tonnes of moderate grade, 2.80% copper
-- Development headings for the 1807 ore zone are being prepared on the
338, 346, 361 and 375 levels with diamond drill holes returning
encouraging results:
----------------------------------------------------------------------------
From To Length Cu Au Ag
HOLE ID Heading (m) (m) (m) (%) (g/t) (g/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MMUG12-60 361 23.60 30.10 6.50 15.46 1.39 25.31
----------------------------------------------------------------------------
MMUG12-61 361 27.10 35.70 8.60 11.70 2.17 17.60
----------------------------------------------------------------------------
MMUG12-67 375 49.88 55.29 5.41 8.65 2.54 16.36
----------------------------------------------------------------------------
George Ogilvie, President and CEO, commented:
"A major milestone for the Company has been achieved with the commencement of copper concentrate production. To date,
concentrator commissioning has been going well and we are pleased that copper recoveries are exceeding expectations at
such an early stage. Over the coming weeks, once the plant has been fully commissioned and optimized, we will begin
blending the stockpiled ore from the higher grade 1807 zone."
"Commissioning the copper concentrator with Lower Footwall Zone ore will also provide invaluable information on its
processing characteristics, which the Company can then use in future optimization and feasibility studies."
COPPER PRODUCTION
Live ore commissioning of the copper concentrator officially began on 14 May 2012. Over the last two weeks,
approximately 6,624 tonnes has been processed at an average throughput of 35 tonnes per hour (tph). Daily production
will continue to fluctuate over the coming weeks as the entire system is optimized before being automated with a more
consistent throughput.
To date, copper recovery in the newly constructed facility has been exceptional. Recoveries during plant start-up have
ranged between 91% and 99% and are now averaging close to 95%. This is again a significant improvement over internal
forecasts which have been nominally calculated at 92.4%. The copper concentrate grade has ranged between 25% and 31%
copper, which is in line with the Company's forecast grade of 28% copper. With further experience on ore processing
capabilities from varying high grade feed sources, the Company will then be in a position to communicate its production
forecasts on a quarterly and annual basis.
The Company is on track to reach commercial production in the second half of 2012.
Definition diamond drilling in the 1807 zone on the 346, 361 and 375 levels has returned a number of encouraging
results. With blending of this zone expected to begin in June, the resultant copper concentrate produced is expected to
be of high quality. The table below summarizes the results of some of the diamond drill core samples taken to date.
Table 2: Definition diamond drilling highlights from the 1807 Zone
----------------------------------------------------------------------------
From To Length Cu Au Ag
HOLE ID Heading (m) (m) (m) (%) (g/t) (g/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
MMUG12-60 361 23.60 30.10 6.50 15.46 1.39 25.31
----------------------------------------------------------------------------
MMUG12-61 361 27.10 35.70 8.60 11.70 2.17 17.60
----------------------------------------------------------------------------
MMUG12-62 361 27.80 36.50 8.20 3.66 1.05 5.90
----------------------------------------------------------------------------
MMUG12-63 361 25.90 30.80 4.90 2.95 0.87 5.54
----------------------------------------------------------------------------
MMUG12-64 361 49.10 53.30 4.20 3.01 0.71 6.51
----------------------------------------------------------------------------
MMUG12-65 361 42.80 45.00 2.20 2.37 0.53 5.21
----------------------------------------------------------------------------
MMUG12-67 375 49.88 55.29 5.41 8.65 2.54 16.36
----------------------------------------------------------------------------
MMUG12-69 346/361 15.70 17.60 1.90 4.94 0.96 16.95
----------------------------------------------------------------------------
MMUG12-70 346/361 15.00 17.97 2.97 4.25 0.77 14.55
----------------------------------------------------------------------------
MMUG12-71 375 33.00 39.70 6.70 2.00 0.59 5.91
----------------------------------------------------------------------------
All quoted intersections are core lengths; true widths are estimated to be
50-75% of core length.
ABOUT RAMBLER METALS AND MINING
Rambler Metals and Mining plc is a Junior Mining Company that has 100% ownership of the Ming Copper-Gold Mine in Baie
Verte, Newfoundland and Labrador, Canada. As a producing gold and copper miner, our objective is to become a mid-tier
mining company by continuing the development of the Ming Mine, discovering new deposits and through mergers and
acquisitions.
The initial six years of the Ming Mine project is based on the underground mining of massive sulphides with a mineable
reserve estimate of 1.498 million ore tonnes grading 1.62% copper, 2.40 g/t gold and 10.90 g/t silver (24,252 tonnes of
copper, 115,549 ounces of gold and 525,139 ounces of silver of contained metal). All massive sulphide zones remain open
both up and down plunge with the current exploration program focused on extending the known mineralization for inclusion
in the resource/reserve estimate.
In addition to the outlined reserve estimate, there is a sizeable footwall deposit beneath the massive sulphide horizon
that has been outlined with an indicated resource grade of 18,306k tonnes grading 1.43% copper (261,258 tonnes of
contained copper at a 1.00% copper cut-off grade). This zone forms the basis of the preliminary economic assessment,
compiled by independent consultants, which envisions the Ming Mine transitioning itself into a bulk tonnage mining
operation. For further information on the Ming Mine project, please refer to the Company's NI 43-101 compliant technical
reports, available under the Company's profile on SEDAR (www.sedar.com).
Over the coming months and years, as the Company seeks to optimize the Ming Copper-Gold Mine into a cash positive
position, it is expected that future expansion into the footwall zone will be formalized with the goal of maximizing
returns for shareholders and increasing the life of the mine.
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.
Drill hole referenced tonnes are dry metric tonnes while milling throughputs are quoted as wet tonnes unless otherwise
indicated.
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 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 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 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
securities law.
FOR FURTHER INFORMATION PLEASE CONTACT:
Rambler Metals and Mining
George Ogilvie, P.Eng.
President and CEO
709-800-1929 / 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 / 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.
Rambler Metals & Mining Plc
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