Rambler Metals & Mining Plc
TSX VENTURE : RAB
AIM : RMM

Rambler Metals & Mining Plc

April 30, 2008 07:00 ET

Rambler's Publishes Its NI43-101 Resource Estimate for the Ming Mine

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - April 30, 2008) - Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) is pleased to announce that SRK Consulting (Canada) Inc. ("SRK) has completed the first National Instrument 43-101 compliant resource for its copper - gold Ming Mine Project, located on the Baie Verte Peninsula, Newfoundland, Canada. The resource was estimated using information from surface diamond drilling and the last 6 months of underground diamond drilling. Rambler also announces its key plans for the future.



RESOURCE HIGHLIGHTS

April 28, 2008 SRK Mineral Resource Statement
- Mineral resource estimate for the Ming Massive Sulphide Horizon
-- 1807 Zone
- Measured Mineral Resource:
233,000 tonnes of 4.17% copper, 1.93 g/t gold, 7.01 g/t silver and
0.7% zinc
- Indicated Mineral Resource:
108,000 tonnes of 4.68% copper, 1.59 g/t gold, 6.77 g/t silver and
0.53% zinc
- Inferred Minerals Resource:
32,000 tonnes of 4.18% copper, 2.79 g/t gold, 6.28 g/t silver and
0.47% zinc

-- Ming Zone
- Measured Mineral Resource:
252,000 tonnes of 1.88% copper, 2.62 g/t gold, 12.15 g/t silver and
0.52% zinc
- Indicated Mineral Resource:
413,000 tonnes of 1.87% copper, 2.40 g/t gold, 12.52 g/t silver and
0.58% zinc
- Inferred Minerals Resource:
1,039,000 tonnes of 1.52% copper, 1.5 g/t gold, 10.61 g/t silver and
0.7% zinc

- Mineral resource estimate for the Upper Footwall Zone
- Indicated Mineral Resource:
390,000 tonnes of 2.99% copper, 0.25 g/t gold, 2.9 g/t silver and
0.03% zinc

- Mineral resource estimate for the Lower Footwall Zone
- Indicated Mineral Resource:
8,664,000 tonnes of 1.68% copper, 0.08 g/t gold, 1.12 g/t silver
and 0.01% zinc
- Inferred Minerals Resource:
2,006,000 tonnes of 1.55% copper, 0.07 g/t gold, 0.99 g/t silver
and 0.00% zinc

Further details are available in Appendix 1


FUTURE PLANS

- Complete mine dewatering by summer 2008.

- Continue delineation drilling of the Lower Footwall Zone to increase the resource while moving resource classifications into the measured category.

- Mobilize a second underground drill to target high grade massive sulphides and Au mineralization beginning in June.

- Begin pre-development accesses which shall be used initially as exploration and diamond drill stations.

- Complete a Titan 24 deep penetrating ground geophysical survey over the property in summer 2008 to identify any new zones on the property.

- Initiate a prefeasibility study with completion date scheduled early 2009.

- Provide a resource update at year end to be incorporated into prefeasibility report due in early 2009.

Dewatering Progress

At the time of this release nearly 220 million gallons of water have been pumped and treated from the old mine. Water levels are dropping faster as we approach the 2200 level and the ground conditions in the old ramp remain excellent. We expect to reach the 2700 level and finish this phase of dewatering by the summer. Once the mine is completely dewatered the installed pumping system will be more than adequate to handle any new water coming into the mine and service water that will be required for pre-development and later production.

Underground Exploration

Drilling from underground continues with a number of targets being explored by a single drill rig. The footwall delineation program has proven successful so far with 9,000 metres drilled out of the 20,000 metre contract; only 6,266m was used in the resource estimate. The drill is currently setup on the 1800 level where better than 2% copper grades have been reported from historic drilling. Rambler's geologic team are constantly interpreting the new data utilizing Datamine's 3D modeling software which will provide a unique insight to the mineralized trends of the footwall zone and hopefully generate new targets that have been previously overlooked. It is Rambler's intention to continue drilling the footwall zone over the coming months and include this new data in a resource update due for release towards the end of the year.

In addition to the footwall program the single underground drill rig is also testing areas of the Ming Massive sulphide that's reported anomalous gold and copper values, but never mined. Unfortunately the current drill setup does not allow for the adequate testing of these zones without extensive access development. To alleviate this challenge Rambler has committed to a second smaller drill with a guaranteed 5000 metres of drilling specifically targeting the Ming Massive sulphide and the new gold zone. Rambler believes that expanding these zones will have further positive impact on the resource and economics of the mine in the early years. The new drill will arrive onsite in June. Again, drilling results from the second underground drill will form the basis of a resource update towards the end of the year.

Surface Exploration

Both directional drilling rigs for the surface exploration program were demobilized late in March. The drills were demobilized since it is more cost effective and efficient for Rambler to continue drilling these zones from underground once the mine is completely dewatered. The surface drilling itself has extended the Ming Horizon nearly 1 kilometre beyond the old property boundary and has tested much of the Footwall Zone on an indicated, 50 metre drill spacing. The results from the surface drilling program formed the base of our NI43-101 resource estimate.

In addition to extending previously known zones the surface drilling program has made some additional new discoveries. The Upper Footwall Zone was first discovered in 2006 while testing the edge of the Footwall Zone. This high grade stringer mineralization has been intersected thus far along a 375m plunge length where it ranges between 6.0 and 14.4 metres in thickness. The newly discovered mineralization is open at depth and remains a target for future exploration.

The 1807 Zone has also been extended and is now 600 metres in plunge length with an average true thickness of 3 to 5 metres. This zone will be of particular interest for future exploration given its plunge length, close proximity to existing development and of course its excellent grades.

It should also be noted that all these zones remain open down plunge, to the west and in the case of the 1807 zone up-plunge as well. It is Rambler's belief that these deeper targets are best drilled from underground once the Mine is completely de-watered.

To continue its surface exploration and to generate new targets Rambler plans to use the Quantecs Titan 24 deep Penetrating DCIP and MT geophysical survey to explore for parallel plunging lenses of the Ming Massive Sulphide horizon. The Titan 24 ground geophysical survey is being tentatively scheduled for July of this year.

George Ogilvie, Rambler's President and CEO commented

"SRK's initial NI43-101 resource estimate confirms Rambler's view that the Ming Mine Project contains a sizeable copper resource with gold credits that holds the potential for a viable long term mine. We are confident that further exploration and delineation drilling will only add to the resource while increasing our confidence levels in the controlling geology and ore zones. Many additional "exploration targets" have been identified based on historical holes, which we intend to verify with new drill holes over the course of 2008. Based on this initial resource estimate and work by SRK for the scoping study report it is Rambler's intention to advance the project into a prefeasibility study beginning this summer with completion scheduled for the end of this calendar year."

For more information and a complete listing of all RMM drill intersections, corresponding maps, figures and NI43-101 compliance information please visit our website at 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.

All tonnes are dry metric tonnes.

Analytical results for Rambler core are first determined at Eastern Analytical, Springdale, NL. Samples are then shipped by courier to Activation Laboratories Ltd., Ancaster Ontario, where a 34 element ICP analysis and gold fire assay are performed. The results presented in this release are based on assay data from Eastern Analytical and Activation Laboratories. ActLabs' data, being the accredited lab for this project, will supersede all other results.

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

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.

The Ming and Ming West Mines exploited relatively narrow zones of high-grade copper and gold mineralization. Sections of this mineralization remain in the lower part of the Ming Mine and it is open to depth.

APPENDIX 1

MINERAL RESOURCE ESTIMATE

The April 28, 2008 SRK Mineral Resource Statement for the Ming Mine Project is summarized in the following table:



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Ming Mine - Mineral Resource Statement - 28 April 2008(i)
SRK Consulting (Canada) Inc.


Resource Quantity Grades
Classification Copper Gold Silver Zinc
(000' t) % g/t g/t %
Measured
Ming Massives: 1807 Zone 233 4.17 1.93 7.01 0.7
: North and South Zones 252 1.88 2.62 12.15 0.52
Upper Footwall Zone
Lower footwall Zone
Total 484 2.98 2.28 9.60 0.61

Indicated
Ming Massives: 1807 Zone 108 4.68 1.59 6.77 0.53
: North and South Zones 413 1.87 2.40 12.52 0.58
Upper Footwall Zone 390 2.99 0.25 2.9 0.03
Lower footwall Zone 8,664 1.68 0.08 1.12 0.01
Total 9,576 1.78 0.20 1.75 0.04

Inferred
Ming Massives: 1807 Zone 32 4.18 2.79 6.28 0.47
: North and South Zones 1,039 1.52 1.5 10.61 0.7
Upper Footwall Zone
Lower footwall Zone 2,006 1.55 0.07 0.99 0.00
Total 3,077 1.57 0.58 4.29 0.24



Resource Quantity Contained metal
Classification Copper Gold Silver Zinc
(000' t) tonnes oz oz tonnes
Measured
Ming Massives: 1807 Zone 233 9,696 14,428 52,403 1,628
: North and South Zones 252 4,729 21,188 98,258 1,308
Upper Footwall Zone
Lower footwall Zone
Total 484 14,425 35,616 150,661 2,936

Indicated
Ming Massives: 1807 Zone 108 5,064 5,531 23,552 573
: North and South Zones 413 7,725 31,875 166,283 2,396
Upper Footwall Zone 390 11,661 3,135 36,363 117
Lower footwall Zone 8,664 145,559 22,285 311,990 866
Total 9,576 170,010 62,826 538,187 3,953

Inferred
Ming Massives: 1807 Zone 32 1,354 2,905 6,540 152
: North and South Zones 1,039 15,788 50,093 354,326 7,271
Upper Footwall Zone
Lower footwall Zone 2,006 31,098 4,515 63,859 0
Total 3,077 48,240 57,514 424,724 7,423

(i) Mineral Resources are not Mineral Reserves and do not have demonstrated
economic viability. All figures are rounded to reflect the accuracy of
the estimate. Cut off grades of 1.0 per cent copper for the massives and
1.25 per cent copper for the two footwall zones are based on an NSR
model and metal prices of US$2.70/lb copper and US$650/oz gold. Zinc and
silver do not contribute to revenues.

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MING MINE PROJECT

Massive Sulphides (1807, North and South Zones)
The copper-gold rich massive sulphides historically mined were the North and South Zones at 3.5% copper with 2.40 g/t gold. The zone averaged 3.7 metres in thickness with a strike length of 125 metres, plunging 30 degrees to the north east over 1500 metres. Mining took place from surface to the 2700 vertical foot level where ore was trucked to the shaft on the 1800 level. Rambler Metals and Mining's new drilling has extended the North and South Zone nearly 750 metres and the 1807 Zone 400 metres beyond the old property boundary. Each of these zones is open at depth and remains a target for future exploration.

The table below summarizes the copper grade sensitivities for the 1807 Zone:



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Sensitivity Table for Measured Resources


Interval Quantity Grades
Above Copper Gold Silver Zinc
Cu% (000' t) % g/t g/t %

0.00 289 3.46 1.65 6.2 0.6
0.25 276 3.61 1.71 6.42 0.62
0.50 258 3.84 1.79 6.65 0.66
0.75 249 3.96 1.84 6.78 0.67
1.00 233 4.17 1.93 7.01 0.7
1.25 222 4.31 1.99 7.15 0.72
1.50 209 4.5 2.08 7.37 0.76
1.75 202 4.61 2.13 7.54 0.79
2.00 192 4.74 2.18 7.73 0.82
5.00 70 7.5 3.08 10.51 0.97


Interval Quantity Contained Metal
Above Copper Gold Silver Zinc
Cu% (000' t) tonnes oz oz tonnes

0.00 289 9,986 15,311 57,532 1,732
0.25 276 9,967 15,180 56,990 1,712
0.50 258 9,898 14,834 55,110 1,701
0.75 249 9,844 14,706 54,189 1,666
1.00 233 9,696 14,428 52,403 1,628
1.25 222 9,586 14,229 51,126 1,601
1.50 209 9,416 13,993 49,582 1,590
1.75 202 9,290 13,801 48,853 1,592
2.00 192 9,093 13,446 47,678 1,573
5.00 70 5,258 6,942 23,689 680


Sensitivity Table for Indicated Resources


Interval Quantity Grades
Above Copper Gold Silver Zinc
Cu% (000' t) % g/t g/t %

0.00 125 4.12 1.45 6.36 0.48
0.25 125 4.14 1.45 6.51 0.5
0.50 118 4.36 1.49 6.51 0.5
0.75 117 4.39 1.5 6.55 0.5
1.00 108 4.68 1.59 6.77 0.53
1.25 104 4.83 1.63 6.85 0.55
1.50 101 4.91 1.66 6.93 0.55
1.75 96 5.09 1.73 7.13 0.57
2.00 88 5.39 1.83 7.48 0.6
5.00 34 9.02 3.08 11.68 0.89


Interval Quantity Contained Metal
Above Copper Gold Silver Zinc
Cu% (000' t) tonnes oz oz tonnes

0.00 125 5,168 5,848 25,651 602
0.25 125 5,170 5,821 26,136 624
0.50 118 5,151 5,659 24,725 591
0.75 117 5,136 5,642 24,636 585
1.00 108 5,064 5,531 23,552 573
1.25 104 5,020 5,446 22,887 572
1.50 101 4,975 5,407 22,574 557
1.75 96 4,896 5,350 22,051 548
2.00 88 4,734 5,168 21,123 527
5.00 34 3,089 3,391 12,858 305



Sensitivity Table for Inferred Resources


Interval Quantity Grades
Above Copper Gold Silver Zinc
Cu% (000' t) % g/t g/t %

0.00 32 4.18 2.79 6.28 0.47
0.25 32 4.18 2.79 6.28 0.47
0.50 32 4.18 2.79 6.28 0.47
0.75 32 4.18 2.79 6.28 0.47
1.00 32 4.18 2.79 6.28 0.47
1.25 32 4.18 2.79 6.28 0.47
1.50 32 4.19 2.8 6.28 0.47
1.75 32 4.19 2.8 6.28 0.47
2.00 32 4.2 2.8 6.28 0.47
5.00 4 5.22 4.11 7.07 0.77


Interval Quantity Contained Metal
Above Copper Gold Silver Zinc
Cu% (000' t) tonnes oz oz tonnes

0.00 32 1,354 2,905 6,540 152
0.25 32 1,354 2,905 6,540 152
0.50 32 1,354 2,905 6,540 152
0.75 32 1,354 2,905 6,540 152
1.00 32 1,354 2,905 6,540 152
1.25 32 1,354 2,905 6,540 152
1.50 32 1,352 2,905 6,516 152
1.75 32 1,352 2,905 6,516 152
2.00 32 1,355 2,904 6,512 152
5.00 4 201 508 874 30

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The table below summarizes the copper grade sensitivities for the North and
South Zones:

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Sensitivity Table for Measured Resources


Interval Quantity Grades
Above Copper Gold Silver Zinc
Cu% (000' t) % g/t g/t %

0.00 1,094 0.63 0.93 5.11 0.21
0.25 580 1.11 1.59 8.11 0.34
0.50 409 1.43 2.04 10 0.43
0.75 306 1.7 2.41 11.32 0.48
1.00 252 1.88 2.62 12.15 0.52
1.25 206 2.05 2.75 12.89 0.54
1.50 170 2.19 2.93 13.74 0.54
1.75 116 2.47 3.34 15.36 0.48
2.00 83 2.71 3.47 16.99 0.5
5.00


Interval Quantity Contained Metal
Above Copper Gold Silver Zinc
Cu% (000' t) tonnes oz oz tonnes

0.00 1,094 6,890 32,701 179,681 2,297
0.25 580 6,438 29,649 151,226 1,972
0.50 409 5,853 26,847 131,602 1,760
0.75 306 5,202 23,708 111,361 1,469
1.00 252 4,729 21,188 98,258 1,308
1.25 206 4,225 18,224 85,421 1,113
1.50 170 3,725 16,021 75,130 918
1.75 116 2,868 12,471 57,350 557
2.00 83 2,243 9,235 45,217 414
5.00



Sensitivity Table for Indicated Resources


Interval Quantity Grades
Above Copper Gold Silver Zinc
Cu% (000' t) % g/t g/t %

0.00 1,436 0.79 1.14 5.87 0.28
0.25 1,004 1.09 1.56 7.59 0.36
0.50 723 1.37 1.98 9.45 0.45
0.75 510 1.68 2.36 11.42 0.54
1.00 413 1.87 2.4 12.52 0.58
1.25 347 2.01 2.36 13.19 0.59
1.50 274 2.18 2.26 14.1 0.6
1.75 178 2.5 2.35 15.46 0.47
2.00 134 2.7 2.47 17.44 0.55
5.00


Interval Quantity Contained Metal
Above Copper Gold Silver Zinc
Cu% (000' t) tonnes oz oz tonnes

0.00 1,436 11,347 52,642 271,062 4,022
0.25 1,004 10,948 50,374 245,089 3,616
0.50 723 9,909 46,041 219,742 3,255
0.75 510 8,561 38,663 187,090 2,752
1.00 413 7,725 31,875 166,283 2,396
1.25 347 6,984 26,363 147,342 2,050
1.50 274 5,966 19,885 124,061 1,642
1.75 178 4,459 13,474 88,645 838
2.00 134 3,613 10,626 75,027 736
5.00 0 0 0 0



Sensitivity Table for Inferred Resources


Interval Quantity Grades
Above Copper Gold Silver Zinc
Cu% (000' t) % g/t g/t %

0.00 2,231 0.95 1.14 7.24 0.45
0.25 1,895 1.09 1.28 7.98 0.5
0.50 1,543 1.25 1.42 8.9 0.58
0.75 1,181 1.44 1.5 10.04 0.66
1.00 1,039 1.52 1.5 10.61 0.7
1.25 822 1.63 1.44 11.54 0.8
1.50 649 1.7 1.17 12.53 0.93
1.75 235 1.88 1.22 14.09 0.52
2.00 18 2.14 2.03 18.32 0.67


Interval Quantity Contained Metal
Above Copper Gold Silver Zinc
Cu% (000' t) tonnes oz oz tonnes

0.00 2,231 21,196 81,778 519,361 10,040
0.25 1,895 20,659 77,998 486,270 9,477
0.50 1,543 19,290 70,453 441,571 8,950
0.75 1,181 17,005 56,951 381,192 7,794
1.00 1,039 15,788 50,093 354,326 7,271
1.25 822 13,399 38,058 304,989 6,576
1.50 649 11,033 24,413 261,454 6,036
1.75 235 4,411 9,202 106,281 1,220
2.00 18 391 1,194 10,775 123

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Upper Footwall Zone (UFZ)
The Upper Footwall Zone was discovered by Rambler Metals in 2006 during the Lower Footwall delineation drilling where RM06-04f intersected 6.00 meters of 14.55% copper with 1.6 g/t gold. Since its discovery, five new diamond drill holes have intersected this stringer sulphide defining it over 375 metres in length. It is important to note that the Upper Footwall Zone is only 100 metres from existing underground development.

For the Upper Footwall Zone only an indicated resource was estimated, the table below summarizes the copper grade sensitivities for this zone:



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Sensitivity Table for Indicated Resources


Interval Quantity Grades
Above Copper Gold Silver Zinc
Cu% (000' t) % g/t g/t %

0.00 548 2.34 0.19 2.35 0.03
0.25 548 2.34 0.19 2.35 0.03
0.50 540 2.37 0.2 2.38 0.03
0.75 450 2.73 0.23 2.68 0.03
1.00 429 2.82 0.24 2.76 0.03
1.25 390 2.99 0.25 2.9 0.03
1.50 322 3.33 0.29 3.21 0.02
1.75 276 3.62 0.32 3.47 0.02
2.00 250 3.8 0.34 3.62 0.02
5.00 50 7.53 0.77 6.82 0


Interval Quantity Contained Metal
Above Copper Gold Silver Zinc
Cu% (000' t) tonnes oz oz tonnes

0.00 548 12,834 3,350 41,440 165
0.25 548 12,834 3,350 41,440 165
0.50 540 12,791 3,470 41,298 162
0.75 450 12,288 3,329 38,784 135
1.00 429 12,098 3,310 38,068 129
1.25 390 11,661 3,135 36,363 117
1.50 322 10,718 3,001 33,218 64
1.75 276 9,984 2,838 30,770 55
2.00 250 9,503 2,734 29,107 50
5.00 50 3,801 1,250 11,068 0

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Lower Footwall Zone (LFZ)

The Lower Footwall Zone was first discovered during the late 1970s by Rambler Consolidated. Rambler Consolidated originally estimated that there was approximately 20 million tons of stringer type mineralization with an average grade of 1% copper. Since this estimate was pre NI43-101 and therefore non- NI43-101 compliant, the data could not be relied upon. In 2005 Rambler Metals and Mining committed two surface diamond drills to explore the Lower Footwall Zone down-plunge of the historical property boundary. In the last 6 months Rambler has added an additional underground drilling rig to test the Lower Footwall Zone in areas that could not be accessed by the surface drills.

For the Lower Footwall Zone an indicated and inferred resource was estimated, the table below summarizes the copper grade sensitivities for this zone:



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Sensitivity Table for Indicated Resources


Interval Quantity Grades
Above Copper Gold Silver Zinc
Cu% (000' t) % g/t g/t %

0.00 66,756 0.61 0.06 0.35 0.00
0.25 44,876 0.88 0.08 0.49 0.00
0.50 34,264 1.04 0.08 0.57 0.00
0.75 23,855 1.22 0.08 0.68 0.00
1.00 14,421 1.46 0.08 0.87 0.01
1.25 8,664 1.68 0.08 1.12 0.01
1.50 5,126 1.91 0.1 1.39 0.01
1.75 3,038 2.11 0.12 1.66 0.01
2.00 1,490 2.35 0.13 1.99 0.01
5.00


Interval Quantity Contained Metal
Above Copper Gold Silver Zinc
Cu% (000' t) tonnes oz oz tonnes

0.00 66,756 407,214 128,776 751,193 0
0.25 44,876 394,909 115,424 706,970 0
0.50 34,264 356,346 88,129 627,921 0
0.75 23,855 291,032 61,357 521,531 0
1.00 14,421 210,551 37,092 403,379 1,442
1.25 8,664 145,559 22,285 311,990 866
1.50 5,126 97,911 16,481 229,089 513
1.75 3,038 64,103 11,721 162,142 304
2.00 1,490 35,024 6,229 95,354 149
5.00


Sensitivity Table for Inferred Resources


Interval Quantity Grades
Above Copper Gold Silver Zinc
Cu% (000' t) % g/t g/t %

0.00 12,369 0.65 0.07 0.48 0.00
0.25 9,114 0.86 0.08 0.61 0.00
0.50 6,639 1.04 0.09 0.68 0.00
0.75 4,568 1.23 0.09 0.80 0.00
1.00 3,219 1.39 0.09 0.90 0.00
1.25 2,006 1.55 0.07 0.99 0.00
1.50 928 1.79 0.07 1.16 0.00
1.75 440 2.00 0.09 1.53 0.00
2.00 217 2.14 0.09 1.54 0.00
5.00


Interval Quantity Contained Metal
Above Copper Gold Silver Zinc
Cu% (000' t) tonnes oz oz tonnes

0.00 12,369 80,399 27,837 190,883 0
0.25 9,114 78,384 23,443 178,751 0
0.50 6,639 69,045 19,210 145,145 0
0.75 4,568 56,186 13,218 117,491 0
1.00 3,219 44,742 9,314 93,139 0
1.25 2,006 31,098 4,515 63,859 0
1.50 928 16,618 2,089 34,623 0
1.75 440 8,802 1,273 21,648 0
2.00 217 4,641 627 10,737 0
5.00

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SRK Qualification and Methodology of Resource Estimation

Resource classification

Mineral resources for the Ming Mine have been classified according to the "CIM Standards on Mineral Resources and Reserves: Definitions and Guidelines" (December, 2005) by Glen Cole, P.Geo, an appropriate Qualified Person as defined by NI43-101. SRK visited the Rambler Property in early April, 2008 and reviewed the mineralized zones in drill core and the interpretation completed by Rambler. A complete NI 43-101 Technical Report, which will incorporate the resource estimation and methodology, will be filed on SEDAR within 45 days after this press release.

The resource estimation is based on a 3-D geological interpretation of the mineralized zones from 7,206 meters of historical Consolidated Rambler Mines Limited underground drilling (1977-81) in 38 drill holes, 85,416 meters of RMM surface drilling (2003-2008) in 86 drill holes and 6,266 meters of RMM underground drilling (2007-2008) in 38 drill holes. The geological interpretation and modeling defined four separate, but intimately related ore zones namely; the 1807 zone, the Main Zone (includes North and South Ming), the Upper Ming Footwall zone and the Lower Ming Footwall Zone. Density factors used to determine tonnages were 3.31 gcm3 for the VMS massive sulphides, 2.82 gcm3 for the stringer footwall style and 3.04 gcm3 for the semi-massive stringer upper footwall mineralization.

The modeled resources at Rambler were created using Datamine 3D modeling software with 5 x 5 x 5 m blocks. A sub-block routine was also applied with a minimum block size of 1.25 x 1.25 x 1.25 m. Grade estimation was done on data composited to 1m intervals, confined to within modeled mineralized zones. Appropriate grade cappings were applied to the composited data. Block grades were estimated using inverse distance squared (ID2) grade estimation methodologies. Normalized and regular variography to estimate search distance criteria was conducted with Isatis software for Cu, Au, Ag and Zn. A single spherical structure variogram (including a nugget effect) was constructed and fitted for each primary direction for all metals and inputted into the Datamine Grade process.

The classified resources for the various modeled mineralized zones at the Ming Mine have been tabulated for a range of copper cut off's. The cut off applied to the massive ore is 1% copper, whereas the cut off applied to the two footwall zones is 1.25% copper. Metal prices of US$2.70/lb copper and US$650/oz gold were applied. Silver and zinc are reported, but do not contribute to revenues.

The TSX-Venture Exchange does not accept responsibility 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
    or
    Rambler Metals & Mining Plc
    Leslie Little
    Company Secretary
    +44 (0) 20-7661-8104
    Website: www.ramblermines.com
    or
    Seymour Pierce Limited
    Nandita Sahgal
    +44 (0) 20-7107 8000
    or
    Pelham Public Relations
    Chelsea Hayes/Klara Kaczmarek
    +44 (0) 20-7743-6675/20-3159-4395