Rambler Metals & Mining Plc

Rambler Metals & Mining Plc

December 01, 2010 09:30 ET

VP Corporate Development Assumes Corporate Secretary Role

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - Dec. 1, 2010) - Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') is pleased to announce that as of January 1st, 2011, Mr. Peter Mercer, will assume the role of Corporate Secretary in conjunction with his other duties as VP Corporate Development. Mr. Leslie Little, the current Corporate Secretary, will be retiring at the end of the calendar year but will stay on in the interim to assist with the transition of Mr. Mercer in his new position. The registered address of the company will remain the same in the New Year.

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

"On behalf of the management and Board I would like to thank Leslie for his efforts over the past 5 years and wish him every success in his future endeavours.

"Having Peter take on these additional duties will further streamline our business as the position will be based in St. John's, Newfoundland where the other Company Senior Officers are resident."

About Rambler

Rambler Metals and Mining is Junior Mining Company that has 100% ownership of the Ming Copper-Gold Mine in Baie Verte, Newfoundland and Labrador, Canada. Our objective is to become a mid-tier mining company by bringing the Ming Mine into production, discovering new deposits and through M&A's. Following the acquisition of the Ming Mine, Rambler, listed on the 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 infrastructure exists 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 three NI43-101 resource statements, a newly published reserve statement, the discovery of new mineralized lenses and the extension of pre-existing lenses. Today all mineralization remains 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 Ming Mine and produce a copper concentrate with gold and silver as by-products. By utilizing the hydrometallurgical facility, in conjunction with the concentrator, the company anticipates increased gold recovery as well as recovering any free gold.

Following the successful publication of a positive Feasibility Study Rambler has now entered the construction phase of the project and expects to bring the Ming Mine back into production in 2011.

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
    Pelham Bell Pottinger
    Klara Kaczmarek/Philippe Polman
    +44 (0) 20-7861-3232
    Seymour Pierce Limited
    Nandita Sahgal
    +44 (0) 20-7107-8000
    Ocean Equities Limited
    Guy Wilkes
    +44 (0) 20-7786-4370