core sector communique

Rambler’s Ming mine Now in Production

First Gold Doré Poured and Shipped for Further Refining

London, England & Baie Verte, Newfoundland and Labrador, Canada – Rambler Metals and Mining plc (TSXV: RAB, AIM: RMM) (‘Rambler’ or the ‘Company’) is pleased to announce that it is now mining and processing ore from its flagship project, the Ming Copper-Gold Mine, located on Newfoundland and Labrador’s Baie Verte Peninsula, Canada.

HIGHLIGHTS

Production

§  Production begins at the Ming Mine with the first gold doré having been poured. Commercial production is targeted before the end of fiscal 2012

§  Milling of the 1806 gold zone started on November 28^th, 2011 and to date 6,877 tonnes have been milled at an average head grade of 4.29 g/t gold and recovery of 90%

§  The Company has 3,509 tonnes of 1806 zone ore stockpiled at an average grade of 4.10 g/t gold with an additional 78,599 tonnes of this material having been blasted, drilled, developed or designed.

§  Construction of the copper concentrator now completed along with pre-rock commissioning. The plant is ready for “live” ore testing utilizing Lower Footwall material once the first stoping blocks in the 1806 Zone are finished being processed

Diamond Drilling and Exploration

§  Delineation and exploration diamond drilling program returns encouraging results extending previously modeled mineralization, including:

o    26.20 metres of 8.88 g/t gold (including 3.10 metres of 59.36 g/t)

o    32.30 metres of 6.84 g/t gold (including 6.00 metres of 20.27 g/t)

Treasury and Credit Facility

§  Following the completion of the second site visit from Sprott Resource Lending Partnership, the final tranche of $5M credit facility is now approved for drawdown, at Rambler’s discretion, upon the delivery of the executed off-take agreement. The current cash position of the Company is $3.4M CDN

George Ogilvie, President and CEO commented:

“Having the Ming Mine in production is a significant milestone for the Company while we will see first revenues from our gold sales in early 2012. These revenues should allow the Company to strengthen its treasury position over the coming months.

The completion of the copper concentrator also gives us the opportunity to process copper rich ore from our Ming Mine in 2012. Having the flexibility to produce a gold doré or a copper concentrate with precious metals, is hugely advantageous as it allows us to maximize our revenues in response to changing market conditions.

Finally, owning an operating mine and mill, with expansion opportunities, in the mining friendly jurisdiction of Newfoundland and Labrador, Canada, only adds to the Company’s investment case in these commodity driven markets.”