Rambler Metals & Mining Plc

Rambler Metals & Mining Plc

June 16, 2008 07:00 ET

Rambler Files NI 43-101 Technical Report

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - June 16, 2008) - Rambler Metals and Mining plc ('Rambler') (TSX VENTURE:RAB)(AIM:RMM) is pleased to announce that SRK Consulting (Canada) ('SRK') has completed the full technical report to accompany the resource statement released on April 30th, 2008. This NI43-101 compliant resource is the first resource estimate ever published for the Ming Mine and demonstrates the combination of low and high grade copper-gold mineralization has the potential to support a 4,000 tonne per day operation with a life of mine in excess of ten years.

With the completion of this resource and a high level scoping study, also compiled by SRK, the project will move into the prefeasibility stage. This next stage of engineering will optimize the parameters used in the scoping study while taking advantage of the NI43-101 compliant resource estimate.

George Ogilvie, President and CEO commented;

"The NI 43-101 technical report makes many good recommendations on how Rambler can improve upon its resource estimate. We will be following up on all of these recommendations over the next six months. There is tremendous potential to improve the resource estimate and we intend to publish this information in early 2009."

A copy of this report has now been filed on SEDAR and is also available on our website. (www.ramblermines.com)

About the Company

Rambler Metals and Mining plc ("Rambler") was established to invest in the base metal sector in politically stable jurisdictions. Its principal project is the Rambler copper-gold property, located on the Baie Verte Peninsula of Newfoundland and Labrador, Canada. Rambler acquired the property from Altius Minerals Corporation in exchange for ordinary shares during 2005.

The Rambler property contains the former producing Ming and Ming West copper-gold mines. The Ming Mine last operated in 1982 and the Ming West Mine in 1996. Mining of the Ming Mine ceased when workings reached a neighbouring property boundary. Rambler Metals and Mining acquired the property after it had been successfully consolidated.

Rambler is dewatering the Ming Mine concurrently with an underground drill delineation program to improve the resource dataset and to prepare the mine for the next phase of pre-development.

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.

All tonnes are dry metric tonnes.

National Instrument 43-101 compliance information regarding sampling and analytical protocols pertaining to the Rambler Project can be accessed via the following link: http://www.ramblermines.com

The TSX-Venture Exchange does not accept responsible for the adequacy or accuracy of this release.

Contact Information

  • Rambler Metals and Mining Canada Limited
    George Ogilvie, P.Eng.
    President and CEO
    (709) 532-4990
    Rambler Metals & Mining Plc
    Leslie Little
    Company Secretary
    +44 (0) 20-7661-8104
    Website: www.ramblermines.com
    Seymour Pierce Limited
    Nandita Sahgal
    +44 (0) 20-7107 8000
    Pelham Public Relations
    Chelsea Hayes
    +44 (0) 20-7743-6675
    Pelham Public Relations
    Klara Kaczmarek
    +44 (0) 20-3159-4395