Rambler Metals & Mining Plc

LSE : RMM


August 28, 2013 02:00 ET

Fourth Quarter 2013 Operating Results & Operational Guidance for Fiscal 2014

28 August 2013

                                   Fourth Quarter 2013 Operating Results
                                                     &
                                   Operational Guidance for Fiscal 2014
                                                     
London, England & Baie Verte, Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (TSXV: RAB,
AIM:  RMM) ('Rambler' or the 'Company'), a copper and gold producer operating in Newfoundland and Labrador,
Canada,  is  pleased to provide an operational update and summary for its fiscal fourth quarter  ending  31
July 2013.

The fiscal fourth quarter 2013, the Company's third quarter as a commercial producer, saw record production
with  5,244  tonnes of copper concentrate, 1,297 ounces of gold and 9,873 ounces of silver produced.   This
represents  a  15% per cent increase in concentrate produced from the third quarter and 32%  increase  when
compared  to the second quarter. Overall the average increase across the production period was 15%  quarter
on quarter. Mill throughput through the copper concentrator during the fourth quarter totaled 47,027 tonnes
with a copper recovery of 94%, 65% for gold and 73% for silver.

HIGHLIGHTS:

    *   Record production of 5,244 tonnes of copper concentrate 1,297 ounces of gold and 9,873 ounces of
        silver
        
    *   Metal produced for Copper (1,574 tonnes), Gold (1,297 ounces) and Silver (9,873 ounces) increased
        by 23%, 31% and 31% respectively over Q3
    
    *   Head grades of Copper (4.05%) and Gold (1.52 g/t) increased by 13% and 18% respectively over Q3
        
    *   Recoveries to concentrate for Copper (94%), Gold (65%) and Silver (73%) increased  by 3%, 4% and
        3% respectively over Q3
        
    *   Concentrate grade for Copper (30%), Gold (7.7 g/t) and silver (58.6 g/t) increased  by 7%, 15% and
        14% respectively over Q3
   
    *   Dry Concentrate produced (5,244 tonnes) increased by 15% over Q3
        


George Ogilvie, President and CEO, commented:

"We  are  very  pleased to see record tonnage and metal produced while head grades  and  recoveries
moved  above  planned  targets.    The continuing improvements at the Ming Copper-Gold  Mine  reflects  our
focused approach to growing our operations and delivering growth.   The Q4 results leave us well placed for
meeting our formal fiscal 2014 guidance, and we will continue to focus on operational performance to ensure
these levels can be maintained."

OPERATIONAL SUMMARY

For  the  first 9 months in commercial production the Company produced 13,802 tonnes of copper  concentrate
with  3,953  tonnes of copper metal, 3,137 ounces of gold and 23,958 ounces of silver.   The  average  feed
grade  during the period was 3.60% Cu, 1.31 g/t Au and 8.95 g/t Ag followed by a mill recovery of 91%,  62%
and 71% for copper, gold and silver respectively.

PRODUCTION                      Q2 2013        Q3 2013       Q4 2013        Q4 vs Q2     Q4 vs Q3
                                (Nov, Dec,     (Feb, Mar,    (May, Jun,
                                Jan)           Apr)          Jul)
     --------------------------------------------------------------------                 
     Dry Tonnes Milled          46,463         43,907*       47,027**         1 %           7 %
     --------------------------------------------------------------------

     --------------------------------------------------------------------                       
     Copper Recovery            89 %           91 %          94 %             6 %           3 %
     --------------------------------------------------------------------
     Gold Recovery              58 %           62 %          65 %             12 %          4 %
     --------------------------------------------------------------------
     Silver Recovery            68 %           71 %          73 %             6 %           3 %
     --------------------------------------------------------------------

     -------------------------------------------------------------------                         
     Copper Head Grade (%)      3.14           3.59          4.05             29 %         13 %
     --------------------------------------------------------------------
     Gold Head Grade (g/t)      1.13           1.29          1.52             35 %         18 %
     --------------------------------------------------------------------
     Silver Head Grade (g/t)    7.19           8.68          10.95            52 %         26 %
     --------------------------------------------------------------------

CONCENTRATE                                                                                  
(Produced and Stored in Warehouse)
     --------------------------------------------------------------------
     Copper (%)                 27.6           27.9          30.0             9 %           7 %
     --------------------------------------------------------------------
     Gold (g/t)                 6.7            6.7           7.7              16 %         15 %
     --------------------------------------------------------------------
     Silver (g/t)               51.0           51.4          58.6             15 %         14 %
     --------------------------------------------------------------------     

     --------------------------------------------------------------------
     Dry Tonnes Produced        3,983          4,575         5,244            32 %         15 %
     --------------------------------------------------------------------
     Copper Metal (tonnes)      1,101          1,278         1,574            43 %         23 %
     --------------------------------------------------------------------
     Gold (ounces)              853            987           1,297            52 %         31 %
     --------------------------------------------------------------------
     Silver (ounces)            6,528          7,557         9,873            51 %         31 %
     --------------------------------------------------------------------
        Note:   (1) Table showing first three quarters in commercial production
        
                (2) *    Continual freezing of the course ore bin in February
        
                (3) **  12 day period where gold hydromet was operated instead of copper circuit allowing
                annual maintenance in the copper concentrator. The hydromet milled 7,247 dry tonnes giving
                a combined total tonnage for Q4 of 54,274
                 

Details of the Company's financial performance, including capital expenditure and operating costs, will  be
included  in its fourth quarter and year end 2013 financial results to be released on Tuesday, October  29,
2013.


Fiscal 2014 Forecast

Copper  production for the 2014 fiscal year is forecast between 5,700 and 6,840 tonnes of metal with  4,500
to 5,500 ounces of gold and 32,000 to 39,000 ounces of silver.

PRODUCTION                    Fiscal 2014          CONCENTRATE (Produced)    Fiscal 2014
  -----------------------------------------        -----------------------------------------  
  Dry Tonnes Milled           200,000 -            Copper (%)                27 - 30
                              220,000              
  -----------------------------------------        -----------------------------------------
                                                   Gold (g/t)                6 - 8
  -----------------------------------------        -----------------------------------------
  Copper Recovery             92 - 94 %            Silver (g/t)              45 - 55
  -----------------------------------------        -----------------------------------------
  Gold Recovery*              63 - 67 %                                      
  -----------------------------------------        -----------------------------------------
  Silver Recovery             55 - 65 %            Dry Tonnes Produced       20,000 - 24,000
  -----------------------------------------        -----------------------------------------
                                                   *Copper Metal (tonnes)    5,700 - 6,840
  -----------------------------------------        -----------------------------------------
  Copper Head Grade (%)       3 - 4                Gold (ounces )**          4,500 - 5,500
  -----------------------------------------        -----------------------------------------
  Gold Head Grade (g/t)       1 - 2                Silver (ounces)           32,000 - 39,000
  -----------------------------------------        -----------------------------------------
  Silver Head Grade (g/t)     6 - 8                                          
  -----------------------------------------        -----------------------------------------
        Note:   (1)  *Gold recovery to concentrate only
                (2) **An additional 2,500 - 3,500 oz Gold is being forecast from the gold hydromet


ABOUT RAMBLER METALS AND MINING

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

Our  Company  Vision  is to be Atlantic Canada's leading mine operator and resource developer  through  the
expansion of the Ming Mine, discovering new deposits and through mergers and acquisitions.  Rambler  listed
on the London AIM in 2005 and Toronto TSX-V in 2007.

For further information, please contact:

George Ogilvie, P.Eng.                  Rambler Metals & Mining Plc          
President and CEO                       Corporate Office
Rambler Metals and Mining               Tel No: +44 (0) 20 8652-2700
Tel No: 709-800-1929                    Fax No: +44 (0) 20 8652-2719
Tel No: 709-800-1921
                                                                             
Stewart Dickson / Jeremy Stephenson     Marcin Zydowicz                      Guy Wilkes
Cantor Fitzgerald Europe                Pelham Bell Pottinger                Ocean Equities Limited
Tel No: +44 (0) 20 7894 7000            Tel No: +44 (0) 20 7861 3921         Tel No: +44 (0) 20-7786-4370

Website: www.ramblermines.com

Larry  Pilgrim, P.Geo., is the Qualified Person responsible for the technical content of this  release  and
has  reviewed and approved it accordingly. Mr. Pilgrim is an independent consultant contracted  by  Rambler
Metals and Mining plc.

Tonnes referenced are dry metric tonnes unless otherwise indicated.

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.

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 the expectations of management  or  estimates  of
future  performance  constitute  "forward-looking statements".  Such  forward-looking  statements  include,
without  limitation, statements regarding copper, gold and silver forecasts for fiscal 2014 (including  the
information  provided in the table relating to production and concentrate forecasts for fiscal  2014),  the
financial  strength  of the Company, estimates regarding timing of future development  and  production  and
statements  concerning possible expansion opportunities for the Company.  Where the  Company  expresses  or
implies  an expectation or belief as to future events or results, such expectation or belief are  based  on
assumptions made in good faith and believed to have a reasonable basis.  Such assumptions include,  without
limitation,  the  price of and anticipated costs of recovery of, copper concentrate, gold and  silver,  the
presence  of  and  continuity  of such minerals at modeled grades and values,  the  capacities  of  various
machinery  and  equipment,  the  availability of personnel, machinery and equipment  at  estimated  prices,
mineral   recovery  rates,  and  others.   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 operating 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 and the forward-looking statements contained in this press release are expressly
qualified in their entirety by this cautionary statement.  The forward-looking statements contained  herein
are  made  as  at the date hereof and the Company 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 law.


  London, England: Salatin House    19 Cedar Road    Sutton, Surrey    SM2 5DA    T.020 8652 2700   F.020
                                                 8652 2719
                                                     
                        www.ramblermines.com                 AIM : RMM; TSX-V : RAB

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