21 September 2016

Rambler Reports Fiscal 2016 Q4 and Yearend Production Results

12% Increase in Production over Fiscal 2015

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, today provides an operational update for its Fiscal 2016 Yearend and fourth quarter ending 31 July 2016 ('F2016' and 'Q4/16').

PRODUCTION

Yearend F2016

F2016

Guidance

Dry Tonnes Milled

241,080

235,000 - 250,000

Copper Recovery (%)

95.6

94 - 96

Gold Recovery (%)

68.7

65 - 70

Silver Recovery (%)

71.8

65 - 75

Copper Head Grade (%)

2.12

2.0 - 2.5

Gold Head Grade (g/t)

1.40

1.0 - 2.0

Silver Head Grade (g/t)

9.97

6.0 - 10.0

CONCENTRATE

(Delivered to Warehouse)

Copper (%)

26.9

27 - 29

Gold (g/t)

13.8

6 - 8

Silver (g/t)

98.1

55 - 75

Dry Tonnes Produced

17,048

17,000 - 21,000

Copper Metal (tonnes)

4,580

4,500 - 6,000

Gold (ounces)

7,549

5,500 - 6,500

Silver (ounces)

53,830

42,000 - 57,000

HIGHLIGHTS OF YEAREND

  • Rambler met or exceeded its 2016 fiscal year production guidance. Targets were achieved for tonnes milled, metal recovery and grades. Gold ounces exceeded guidance by 16 per cent, a record for gold in concentrate production, resulting from adjustments made to the flotation circuit in the first half of the year. During the second half of the year more focus was placed on increasing mill throughput. Once throughput is fully optimized the team will work towards re- establishing the higher gold recoveries.

  • Copper grades of 2.12 per cent and gold grades of 1.40 grammes per tonne were in line with guidance. Total mill throughput for the year was 241,080 dry metric tonnes, a 12% increase over the 216,000 tonnes milled in fiscal 2015.

  • Average recoveries to concentrate for the year were: copper 95.6 per cent, gold 68.7 per cent and silver 71.8 per cent with a concentrate grade of 26.9 per cent, 13.8 grammes per tonne and

    98.1 grammes per tonne for copper, gold and silver respectively.

    HIGHLIGHTS FOR THE QUARTER

  • Production of 4,108 tonnes of copper concentrate, representing a 9 per cent decrease over Q3/16 resulting from lower copper head grade in the quarter.

  • Dry tonnes milled of 69,874 tonnes, representing a 23 per cent increase over Q3/16 and 18 per cent over the same quarter last year driven by an increase in Lower Footwall Zone ('LFZ') ore availability;

    • 1,126 tonnes of copper (4,580 tonnes for the fiscal year)

    • 1,637 ounces of gold (7,549 ounces for the fiscal year)

    • 11,899 ounces of silver (53,830 ounces for the fiscal year)

  • Head grades of copper averaged 1.83 per cent for the quarter and 2.12 per cent for the year; gold at 1.16 grammes per tonne for the quarter and 1.40 grammes per tonne for the year; silver at 7.97 grammes per tonne for the quarter and 9.97 grammes per tonne for the year.

Norman Williams, President and CEO, commented:

"As anticipated, Fiscal 2016 was a transitional year as we began development plans to expand production with the Lower Footwall Zone "LFZ". A focused move towards LFZ development was initiated during the year once project financing was secured. This is evident through the significant increase in production tonnes during the final quarter of the fiscal year.

"Our fiscal yearend goal was to reach steady state production at 850 mtpd. With this goal achieved we will look forward to continuing to increase production levels throughout fiscal 2017.

"I would like to thank the entire operations team for their outstanding efforts, tremendous dedication and continued focus on safety throughout the year."

Details of the Company's financial performance, including capital expenditure and operating costs, will be included in its Yearend financial results to be released on or before 24 October 2016. Following the recently announced change to a calendar year end, the group will communicate calendar 2017 production guidance with its yearend financial results.

Table 1 - 2016 Production Guidance with Actual Ore and Concentrate Production for Fiscal 2016

(see Note 1 below)

PRODUCTION Q1 2016 Q2 2016 Q3 2016 Q4 2016 Yearend F2016 F2016 Guidance

Dry Tonnes Milled

58,053

56,458

56,695

69,874

241,080

Copper Recovery (%)

95.3

96.4

96.3

94.7

95.6

Gold Recovery (%)

70.6

75.3

67.9

62.6

68.7

Silver Recovery (%)

76.4

75.4

70.7

65.8

71.8

Copper Head Grade (%)

2.42

2.07

2.22

1.83

2.12

Gold Head Grade (g/t)

1.45

1.40

1.62

1.16

1.40

Silver Head Grade (g/t)

11.77

10.20

10.34

7.97

9.97

235,000 - 250,000

94 - 96

65 - 70

60 - 75

2.0 - 2.5

1.0 - 2.0

6.0 - 8.0

CONCENTRATE

(Delivered to Warehouse)

Copper (%)

26.57

26.49

26.98

27.41

26.89

Gold (g/t)

12.90

16.35

13.98

12.39

13.82

Silver (g/t)

101.75

110.28

92.05

90.10

98.09

Dry Tonnes Produced

4,788

3,621

4,530

4,108

17,048

Copper Metal (tonnes)

1,272

960

1,222

1,126

4,580

Gold (ounces)

1,986

1,889

2,037

1,637

7,549

Silver (ounces)

15,664

12,860

13,407

11,899

53,830

27 - 29

6.0 - 8.0

55 - 75

17,000 - 21,000

4,500 - 6,000

5,500 - 6,500

42,000 - 57,000

Table 2 - Quarter over Quarter Results Comparison (see Note 1 below) PRODUCTION Q4/15

Dry Tonnes Milled

59,373

69,874

Copper Recovery (%)

96.6

94.7

Gold Recovery (%)

68.7

62.6

Silver Recovery (%)

72.8

65.8

Copper Head Grade (%)

1.93

1.83

Gold Head Grade (g/t)

1.22

1.16

Silver Head Grade (g/t)

8.75

7.97

Copper (%)

26.66

27.41

Gold (g/t)

12.92

12.39

Silver (g/t)

92.80

90.10

Dry Tonnes Produced

3,600

4,108

Copper Metal (tonnes)

960

1,126

Gold (ounces)

1,495

1,637

Silver (ounces)

10,742

11,899

(May, Jun, Jul)

Q4/16

(May, Jun, Jul)

Q3/16

(Feb, Mar, Apr)

Q4/16

(May, Jun, Jul)

18%

56,695

69,874

23%

-2%

96.3

94.7

-2%

-9%

67.9

62.6

-8%

-10%

70.7

65.8

-7%

-5%

2.22

1.83

-17%

-5%

1.62

1.16

-28%

-9%

10.34

7.97

-23%

CONCENTRATE

(Produced and Stored in Warehouse)

3%

26.98

27.41

2%

-4%

13.98

12.39

-11%

-3%

92.05

90.10

-2%

14%

4,530

4,108

-9%

17%

1,222

1,126

-8%

9%

2,037

1,637

-20%

11%

13,407

11,899

-11%

ABOUT RAMBLER METALS AND MINING

Rambler is a mining and development company that in November 2012 brought its first mine into commercial production. Rambler has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.

Rambler's immediate plans are to increase mine and mill production to 1,250 mtpd by the end of Fiscal 2017. This initial expansion has been fully funded through CEII's investment. Rambler will also continue advancing engineering studies on ore pre-concentration (DMS) and shaft rehabilitation with a view to further increase production to 2,000 mtpd at the Ming Mine. In addition, Rambler has initiated a detailed study at the mill with a goal to increase gold recovery and production rate in the copper concentrator.

Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer/ Whales Back copper mines and has strategic investment in the former producing Hammerdown gold mine.

Rambler is dual listed in London under AIM:RMM and in Canada under TSX-V:RAB. For further information, please contact:

Norman Williams, CPA,CA President and CEO

Rambler Metals & Mining Plc Tel No: 709-800-1929

Fax No: 709-800-1921

Peter Mercer

Vice President, Corporate Secretary Rambler Metals & Mining Plc

Tel No: +44 (0) 20 8652-2700

Fax No: +44 (0) 20 8652-2719

Nominated Advisor (NOMAD)

Investor Relations

David Porter

Cantor Fitzgerald Europe

Tel No: +44 (0) 20 7894 7000

Nicole Marchand Investor Relations

Tel No: 416- 428-3533

Nicole@nm-ir.com

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 Canada Limited. Tonnes referenced are dry metric tonnes unless otherwise indicated.

Note 1: Results reported are accurate and reflective as of the date of release. The Company performs regular auditing and reconciliation reviews on its mining and milling processes as well as stockpile inventories, following which past results may be adjusted to reflect any changes.

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. The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

Rambler Metals and Mining plc published this content on 21 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 21 September 2016 11:18:04 UTC.

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