Rambler Metals & Min (RMM.L) Rambler Continues to Intersect High Grade Copper

Rambler Continues to Intersect High-Grade Copper in Underground Infill Drilling at its Producing Ming Mine

London, England & Newfoundland and Labrador, Canada – Rambler Metals and Mining plc (AIM: RMM) (“Rambler” or “the Company”), a copper and gold producer, explorer and developer provides an update to its on-going 2021 underground infill diamond drill program at the Ming Copper-Gold Mine, Baie Verte, Newfoundland and Labrador, Canada.

NEW RESULTS HIGHLIGHTS

Target 2: Lower Footwall Zone (“LFZ”) Drilling Program Targeting 735-760L

  • R21-620-16

· 9.45m @ 3.54% Cu – Ming North (“MNZ”) Icing Zone

· 12.00m @ 2.41% Cu, incl 3.45m @ 5.83% Cu

  • 11.67m @ 2.26% CuR21-620-15

· 3.94m @ 4.16% Cu – MNZ Icing Zone

· 15.82m @ 1.87% Cu, incl 5.82m @ 2.48% Cu

  • R21-620-04

· 18.10m @ 1.41% Cu

  • R21-620-06

· 29.00m @ 1.75% Cu, incl 13.00m @ 2.06% Cu

· 12.00m @ 1.75% Cu, incl 3.00m @2.57% Cu

  • R21-620-07

· 11.90m @ 1.78% Cu, incl 4.00m @ 2.31% Cu

· 7.50m @ 2.02% Cu

Target 3: Ming North Zone Drilling Program Targeting 785 Level and Below

  • R21-785-05

· 12.45m @ 2.62% Cu – Icing Zone

· 2.25m @ 1.79% Cu

  • R21-785-06

· 4.61m @ 3.75% Cu – Icing Zone

  • R21-785-09

· 11.69m @ 1.38% Cu

  • R21-785-16

· 7.20m @ 7.01 % Cu

· 4.71m @ 2.57% Cu

· 3.48m @ 7.85% Cu

Toby Bradbury, President and CEO, commented:

“The positive assay results received in the program so far provide confidence in our near-term production outlook, having confirmed the earlier block model based on wider-spaced drilling in the target areas. In addition, the new, high-grade intersections through the recently discovered “Icing Zone” further enlarges the Icing Zone in an area near current underground infrastructure. This has created an opportunity for additional near-term high-grade production.

“Due to the delay receiving backlogged copper assay samples from our drilling, we paused drilling during October and are resuming drilling in November now that additional assays have been received and new interpretations to guide the positioning of the next holes have been completed. We look forward to re-commencing the drill program, in which will target the UFZ in Q4 2021 and the Ming North Icing Zone in 2022.”

THE PROGRAM

To date, the mine has completed drilling 14,798 meters (97%) of the planned 15,200 meters. The program is aimed at infill drilling four key target areas to further support near-term production planning (see Figure 1 below). Current status of work on each target includes:

· Target 1 . Lower Footwall Zone (“LFZ”) 510-535 level: drilled from the 411 level;

o Drilling complete;

o Copper assays complete and fully reported on 7 May 2021.

· Target 2 . LFZ 735-760 level: drilled from the 620 level;

o Drilling complete;

o Copper assays have been received for 16 of the 18 holes in this program;

o Copper results reported on 2 August 2021, on 25 August 2021, on 14 October 2021 and in this release.

· Target 3 . Ming North Zone (“MNZ”) 785 level; Drilled from the 785 level;

o Drilling complete;

o Copper assays have been received for 9 of the 21 holes;

o Copper results reported on 25 August 2021, on 14 October 2021 and in this release.

· Target 4. Upper Footwall Zone (“UFZ”) below 790 level; drilled from the 620 level;

o Drilling scheduled in Q4 2021.

To date, no gold assays have been received on intercepts through any of the targets.

To view Figure 1: 2021 Ming Mine Drilling Program Target Areas, please click here
http://www.rns-pdf.londonstockexchange.com/rns/6010S_1-2021-11-16.pdf

Table 2: Previously unreported composited assay intervals on Target 2 from the 735-760 level Lower Footwall Zone diamond drilling program.

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The drilling program for the Ming Mine is being run under the supervision of Mark Ross, P. Geo., who is a qualified person as defined by NI43-101.

All drilling reported in this release was completed by an independent contractor with NQ-sized diamond core (76 mm diameter). Rambler employs an Oriented Core tool which provides valuable information in terms of the orientation of mineralized stringers, dip and dip direction of structure, lithology and foliation for future modelling and geotechnical interpretation. Logging and sampling of diamond drill core is completed on site by Rambler geologists who ship samples daily, using Rambler vehicles and drivers, to the Company’s own laboratory for copper assay by standard x-ray fluorescence (“XRF”) methodology. As part of its QA/QC program 10% of all samples processed are sent for duplicate analysis at an accredited external lab using standard XRF methodologies. Sample pulps are later shipped, using commercial freight services, to independent laboratories for gold assaying.

Tim Sanford, P.Eng., is the Qualified Person responsible for the technical content of this release and has reviewed and approved it accordingly. Mr. Sanford is an employee of Rambler Metals and Mining Canada Limited. Tim Sanford consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears. Tim Sanford has sufficient experience, relevant to the style of mineralization and type of deposit under consideration and to the activity that he is undertaking, to qualify as a “competent person” as defined by the AIM rules.

Tonnes referenced are dry metric tonnes unless otherwise indicated; unless otherwise noted all figures are quoted in $USD.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (‘MAR’), incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (‘RIS’), this inside is now considered to be in the public domain.

ABOUT RAMBLER METALS AND MINING

Rambler is a mining and development Company that in November 2012 brought its first mine into commercial production. The group has a 100% ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year-round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.

Rambler’s focus is to regain its production profile at 1,350 metric tonnes per day at 2% copper in the course of 2021 and evaluate expansion opportunities from that base.

Along with the Ming Mine, Rambler also owns 100% of the former producing Little Deer and Whales Back copper mines.


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