core sector communique

Rambler Continues to Optimize Copper and Gold Production

While Working Towards Commercial Production

London, England & Baie Verte, Newfoundland and Labrador, Canada – Rambler Metals and Mining plc (TSXV: RAB, AIM: RMM) (‘Rambler’ or the ‘Company’) is pleased to provide this update from the Company’s 100% owned Ming Copper-Gold Mine (“Ming Mine”) in Newfoundland and Labrador’s Baie Verte Peninsula, Canada.

HIGHLIGHTS

• Continued optimization of the mine and mill show steady progress with increases in head grade, copper recovery and throughput month over month
• The average milling throughput has been steadily increasing from 678¹ mtpd in June to an average of 706¹ mtpd in July and August. Run of mine head grade has also increased from 2.40% copper equivalent to 2.76% and 3.83% for the same period
• Copper recovery has been consistent, averaging 91¹% for the month of August, producing a clean concentrate grading between 22 and 32% copper
• To date, approximately 4,500 wet metric tonnes of copper concentrate are in storage at Goodyear’s Cove awaiting shipment. Of the concentrate in storage 3822 tonnes have been invoiced for payment to Transamine as part of the 90% provisional payment under the terms of the offtake agreement
• The Company continues to advance towards commercial production while looking forward to its first shipment of copper concentrate. Both are expected to occur in the fiscal 1Q
• Develop face sampling from the 1807 Zone 389L returned 4.30 metres of 6.38% copper with 3.85 g/t gold. First stope tonnes from this level are expected in September

George Ogilvie, President and CEO of Rambler, commented:

“Rambler continues to make great progress as a copper and gold producer. The mill is working as designed with a quality concentrate product produced consistently. Development at the mine is returning encouraging stoping grades and as we set up additional stoping levels our run of mine head grade to the mill should continue to improve. To date the actual mined grades are in line with reserve estimates.

The long-term market fundamentals for copper and gold remain strong. As Rambler moves to increase its production from the stable mining jurisdiction, and enhance its cash flow, we hope to see an up-lift in the value the market attaches to the Company.

Note:

1. Averages calculated from complete milling days. Reduced tonnage due to unplanned down time have not been included.

COPPER PRODUCTION

The Company is making consistent progress both at the mine and the mill resulting in the key metrics steadily increasing since first commissioning the new copper concentrator in May 2012. The daily throughput at the mill is averaging 706¹ mtpd, a close to 12% increase in production from the original 630 mtpd estimate. Copper recovery has been steady, averaging 91% for August, while the run of mine head grade continues to improve. Initially, the head grade during the commissioning of the mill was 1.54% copper equivalent (May) which then increased to 2.40% (June) and 2.76% copper (July). Subsequently, the head grade has again increased in August to 3.32% copper with 1.02 g/t gold (3.83% copper equivalent). As development in the mine exposes additional stoping levels, the need to blend the higher grade 1807 Zone with the Lower Footwall material will be substantially reduced.

As we continue to optimize the milling circuit, we have seen some variability in the quality of concentrate produced depending on the ore zone blending strategy. Throughout June, July and August, concentrate grade ranged between 22% and 32% copper with the final two weeks in August averaging 26% copper. With further optimization of the circuit we expect the key metrics of the project to continue to improve. Following the first shipment of concentrate planned for fiscal 1Q, we expect to officially announce commercial production in the second half of 2012.

To date, there are 4,500 wet metric tonnes of copper concentrate in storage at the Company’s port warehouse facility. Once 5,500 wet tonnes have been reached, the Company will notify Transamine that the material is ready for shipment.

The present focus for mine development continues to be towards the high grade 1807 Zone. Headings on the 469 lv, 375 lv and 389 lv have returned very encouraging results which are highlighted in the table below. The results presented are from development headings, however recent stoping on the 375 lv has confirmed continuity and grade into the mining block.

Table 1: Development sampling highlights from the 1807 Zone

Zone	Heading	Type	Length (m)	Cu (%)	Au (g/t)	Ag (g/t)	Zn (%)
1807	469 dev	muck	--	5.90	2.04	17.40	2.32
1807	375 dev	muck	--	7.80	2.84	10.30	0.15
1807	375 stope	muck	--	7.20	2.74	15.50	0.20
1807	361 dev	muck	--	6.00	1.19	16.20	1.48
1807	389 dev	chip	4.30	6.38	3.85	12.69	0.09
1807	389 dev	chip	4.00	6.44	2.06	10.76	0.11

The Company will continue to process high grade ore from the 1807 Zone with quality results. The measured and indicated resource of this zone is estimated at 432,000 tonnes grading 3.86% copper, 1.75 g/t gold and 7.18 g/t silver. The Company has developed an exploration program to test the plunge extents of this zone; which will include un-drilled areas not currently outlined in the resource/ reserve estimate.