Rambler Metals & Mining Plc US$20M Gold Sal...
March 4th, 2010
RAMBLER METALS AND MINING
US$20M Gold Sale Agreement with Sandstorm Resources
Rambler Metals & Mining PLC ('Rambler'), (TSX-V:RAB), (AIM:RMM) is pleased to announce that it has entered into an
agreement with Sandstorm Resources Ltd. (TSX-V:SSL) to sell a portion of the life-of-mine gold production from its Ming
Copper-Gold Mine, located in Baie Verte, Newfoundland.
Under the terms of the agreement Sandstorm Resources will make staged upfront cash payments for the gold to Rambler
totalling US$20M. The 'First Deposit' of US$5M is available to Rambler immediately. The 'Second Deposit' of US$2M is
available to Rambler upon completion and delivery to Sandstorm Resources of a satisfactory NI43-101 Feasibility Study,
which Rambler anticipates completing in 2Q 2010. The 'Third Deposit' of US$13M is available to Rambler upon award of all
necessary permits for the Ming Mine anticipated in 3Q 2010. In return, Sandstorm Resources will be entitled to 25% of
the first 175,000 ounces of payable gold and thereafter 12% of all payable gold produced from the Ming Mine. The initial
term of the agreement is for 40 years and is renewable thereafter by Sandstorm for successive 10 year periods.
During negotiations Casimir Capital LP acted as agent for Rambler and is entitled to a 4.5% cash commission to be paid
with each Deposit tranche pursuant to an agreement dated February 4, 2010.
George Ogilvie, President and CEO of Rambler commented: "We are extremely pleased to have signed this agreement with
Sandstorm Resources. The agreement represents an attractive source of funding for Rambler allowing us to bring the Ming
Mine into production while still giving Rambler shareholders full upside exposure to 100% of the copper, silver and the
majority of the gold production at the Ming Mine."
For further information, please contact:
George Ogilvie, P.Eng. Leslie Little
President and CEO Company Secretary
Rambler Metals and Mining Rambler Metals & Mining Plc
Canada Limited Tel No: +44 (0) 14-8341-9942
Tel No: 709-532-4990
Nandita Sahgal Klara Kaczmarek
Seymour Pierce Limited Pelham Bell Pottinger
Tel No: +44 (0) 20-7107 8000 Tel No: +44 (0) 20-7337-1524
Website: www.ramblermines.com
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.
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 NI431-101
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.
About Sandstorm Resources
Sandstorm Resources Ltd. Is a growth focused resource based company that seeks to complete transactions with companies
that have advanced stage development projects or operating mines. By making upfront payments to its partners, Sandstorm
receives volumetric production payments (i.e. metal stream deals) on precious metals. Sandstorm helps other companies in
the resource industry grow their businesses, while acquiring attractive assets in the process.
Sandstorm is focused on low cost operations with excellent exploration potential and strong management teams. Sandstorm
has completed volumetric production payments with Luna Gold Corp, SilverCrest Mines Inc., Santa Fe Gold Corporation and
Rambler Metals & Mining PLC. For more information visit:
www.sandstormresources.com
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 operatin
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.
London, England: Muscott House ! 6a Meadrow ! Godalming, Surrey ! GU7 3HL ! T.+44(0) 1483 419942 ! F.+44(0) 1483-
429255 ! www.ramblermines.com AIM:RMM; TSXV:RAB
Rambler Metals & Mining Plc
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