Rambler Metals & Mining Plc

Rambler Metals & Mining Plc

April 26, 2010 09:30 ET

Rambler Announces Financial Controller Promoted to Chief Financial Officer

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - April 27, 2010) -  Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') is pleased to announce that as of May 2nd, Mr. Norman Williams who is the current Financial Controller of the Company is being promoted to Chief Financial Officer. The current CFO, Mr. John Thomson will stand down but remain on the board as a Non-Executive Director of the Company.

George Ogilvie, P.Eng, President and CEO, Rambler commented;

"Since joining Rambler in 2008 as the Financial Controller Norman has shown great ability, aptitude and commitment to the success of the Company. It is therefore only natural that Norman progress to the CFO position and I would like to congratulate Norman on his new appointment.

On behalf of the management and the board I would also like to thank John for his efforts and look forward to his continued participation on the board where his experience will be invaluable to the Company as we bring the Ming Copper Gold Mine into production in 2011."

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 NI43-101 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 it 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 following the environmental release of the project.

Forward Looking Statement:

Some of the statements contained herein may be forward-looking statement, which involve known and unknown risks and uncertainties. Without limitation, statements regarding future plans and objectives of the Company are forward looking statements that involve various degrees of risk. It is important to note that the Company's actual results could differ materially from those in such forward-looking statements.

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.

Contact Information

  • Rambler Metals and Mining Plc
    Canada Limited
    George Ogilvie, P.Eng.
    President and CEO
    Rambler Metals and Mining Plc
    Leslie Little
    Company Secretary
    +44 (0) 14-8341-9942
    Seymour Pierce Limited
    Nandita Sahgal
    +44 (0) 20-7107-8000
    Pelham Bell Pottinger
    Klara Kaczmarek / Charles Vivian
    +44 (0) 20-7337-1524
    Ocean Equities Limited
    Guy Wilkes
    +44 (0) 20-7786-4370