Rambler Metals and Mining Canada Limited

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Rambler Metals and Mining was established to invest in the base metal sector in politically stable jurisdictions. Its principal activity is the development and exploration program of the Rambler copper-gold property, located on the Baie Verte Peninsula of Newfoundland and Labrador, Canada.

PROJECT IN HAND

Rambler Copper-Gold Project, Baie Verte Peninsula, Newfoundland and Labrador

Rambler's 100%-owned Rambler copper-gold property is located on the Baie Verte Peninsula of Newfoundland and Labrador. The area has a history and culture of gold, base metals and industrial minerals mining. The Rambler property contains the former producing Ming and Ming West copper-gold mines. The Ming Mine last operated in 1982 and produced some 2.1 million tonnes of ore grading 3.5% copper and 2.5 g/t gold over a 10 year operating life. The Ming West Mine operated between 1995 and 1996 producing 150,000 tonnes grading 4.0% copper and 5.8 g/t gold. Mining ceased when workings reached a neighbouring property boundary. Rambler acquired the property after it had been successfully consolidated.

Project Highlights:

• Worked safely since inception of Project

• In August 2008 the Company hired a General Manager for the site which completes operations management team necessary to bring the Ming Mine into production.

• The Ming Mine was fully dewatered and underground development continued to provide access for pre-production of the Ming Mine and to provide platforms for exploration drilling.

• The release of an updated NI 43-101 compliant resource at the Ming Mine estimating an equivalent of 80,823 tonnes of contained copper, 161,335 ounces of contained gold and 922,107 ounces of contained silver in the measured and indicated categories with a further 25,836 tonnes of contained copper, 98,740 ounces of contained gold and 450,673 ounces of contained silver in the inferred category. This resource update increased in the higher grade gold rich massive sulphides and was concluded using a commodity price of US$1.92/lb Cu, US$800/oz Au and US$10/oz Ag.

  • Measured Resources: 1,151,000 tonnes of ore grading 2.14% copper, 2.40 g/t gold, 14.11 g/t silver, 0.78% Zinc

  • Indicated Resources: 2,500,000 tonnes of ore grading 2.25% copper, 0.9 g/t gold, 4.97 g/t silver, 0.21% Zinc

  • Inferred Resources: 1,498,000 tonnes of ore grading 1.72% copper, 2.05 g/t gold, 9.36 g/t silver, 0.63% Zinc

  • Total Resources (measured and indicated): 3,651,000 tonnes of ore grading 2.21% copper, 1.37 g/t gold, 7.86 g/t silver, 0.39% Zinc

• SRK Consulting completed a scoping study and confirmed the Ming Mine can sustain a 4,000 mtpd production rate with a life of mine in excess of 10 years.

• Completion of a Titan (TITAN24) geophysical survey over the entire property, producing positive results with 77 separate anomalies of varying significance being identified.

•  Metallurgical testing on the 1807 Zone was completed with copper concentrate grade averaging 29.1% and average copper recovery at 92.4% with a range between 88.4% and 97%. Precious metal recovery of 67.5% gold and 52.5% silver within the copper concentrate. Further metallurgical testing is planned to optimize the recovery of precious metals, including any "free gold".

• Exploration drilling continued until January 7, 2009. During fiscal 2009 a total of 5,642 metres was drilled. Primary drilling was carried out on the newly discovered 1806 Zone. Drilling was reduced due to a Cost Reduction Program to preserve working capital.

• Completion of an underground engineering study by CSI Mining and Engineering Inc. incorporating a mine plan, schedule and capital program for the first seven years of the mine. This study formed the basis for the preparation of a business plan for the Group.

• Rambler acquired the Nugget Pond gold milling facility, located 40 km from the Ming Mine, from Crew Gold Corporation (TSX:CRU) for CDN$3.5 million on October 27, 2009, to process base metal sulphides from the Ming Mine.

• Prepare and submit documentation for Environmental approval

• Finalize plans to resume exploration, pre-production development and construction and to bring the Mine into production during fiscal 2011.

Rambler announced that it is taking a proactive approach in searching for potential gold properties in the Baie Verte Peninsula. On September 21, 2009, the Company announced that it has entered into an option agreement with Seaside Realty Ltd. to earn up to a 50% undivided interest in the Corkscrew/Big Bear Property. On the same date Rambler also announced that it had signed a confidentiality agreement with Tenacity Gold Mining Company Ltd. to evaluate the potential of developing the Deer Cove deposit. Rambler is currently engaged in discussions with a number of third parties, with which it holds confidentiality agreements with, for further project financing.

MANAGEMENT

Management and Directors

Harry Dobson, Chairman
Mr. Dobson, a mining industry veteran, brings many years of experience to the Company. Mr. Dobson has been and remains as Director and/or Chairman of several exploration and mining companies. As Chairman of American Pacific Mining, Mr. Dobson successfully reopened the El Mochito zinc and silver mine in Honduras, and more recently, as Chairman of Kirkland Lake Gold has put the Macassa gold mine back into production.

George Ogilvie, P.Eng., President & CEO
Mr. Ogilvie received his B.Sc. (Hons.), Mining and Petroleum Engineering from Strathclyde University in Glasgow, Scotland. He is a Professional Engineer and holds his Mine Managers Certificate (South Africa) with more than 19 years management, operating and technical experience in the mining industry. Mr. Ogilvie's career experience includes working for companies such as AngloGold, Anglo American, Dynatec Corporation and FNX Mining.

John S. Thomson, CA, CFO
Mr. Thomson is a Chartered Accountant and graduate of INSEAD. He has worked internationally in a variety of senior roles for companies such as PepsiCo. He is currently a non-executive director of Parragon Publishing Ltd.

Jason McKenzie, CET, General Manager
Mr. McKenzie is a Certified Mine Engineering Technician with over 35 years experience in underground mining at various ascending levels of supervision and management.

Norman Williams, CA, Financial Controller
Mr. Williams is a Chartered Accountant with 10 years accounting and management experience. Mr. Williams is responsible for overseeing all day to day financial aspects of the Ming Mine Project while communicating regularly with the head office in London.

Larry Pilgrim, P.Geo., Chief Geologist
Mr. Pilgrim has an exploration and production mine geology background having worked extensively over the last 25 years in eastern Canada with companies that include Richmond Mines Inc. and more recently Commander Resources Limited.

Leslie Little, Corporate Secretary
Corporate Secretary of the Company and Investment Manager at Smith and Williamson Investment Management (from June 2000 to January 2006).

John Baker, Director
Mr. Baker is a senior partner in a leading St. John law firm and carries on an extensive and diverse mining, securities, and corporate/commercial practice. He has served on numerous public companies and volunteer boards and has received several awards for public service.

Brian F. Dalton, Non-Executive Director
Brian Hinchcliffe, Non-Executive Director
Leslie Goodman, Non-Executive Director
Merv Roberts, Non-Executive Director
Stanley Neamonitis, Non-Executive Director


NEWS UPDATE

On November 23, 2009, Rambler Metals and Mining Canada Limited has posted to shareholders its report and accounts for the year ended July 31, 2009, together with a notice convening the Company's annual general meeting for December 10, 2009, at 11:30 a.m. GMT, at the offices of Seymour Pierce Ltd., 20 Old Bailey, London, EC4M 7EN.

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