Rambler Metals & Mining Plc

Rambler Metals & Mining Plc

September 08, 2010 09:30 ET

Rambler Project Coordinator Promoted to VP Corporate Development

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - Sept. 8, 2010) - Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') is pleased to announce that as of August 17th, Mr. Peter Mercer who was the Project Coordinator for the Company has been promoted to VP Corporate Development. The VP Corporate Development role is a new position created to help explore and develop growth opportunities both internal and external to the Company.

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

"Peter joined Rambler in 2007 as the Project Coordinator for the Ming Copper-Gold Mine, although he was part of the original Altius team that began work on the property as early as 2003. During his tenure as Project Coordinator he has shown tremendous drive and enthusiasm and has been integral to the success of the Project, taking it from a grass roots exploration play to a near term producer. We anticipate that these same characteristics, coupled with Peter's education in Geology, will aid in the discovery and development of the next business opportunity for Rambler. I would like to congratulate Peter on his new appointment as we look to grow our business in the future."

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 Canada Limited
    George Ogilvie, P.Eng.
    President and CEO
    Rambler Metals & 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