Rambler Confirms Closing of Previously Announce...

FOR:  RAMBLER METALS & MINING PLC

AIM SYMBOL:  RMM
TSX VENTURE SYMBOL:  RAB

October 22, 2009

Rambler Confirms Closing of Previously Announced Placing

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - Oct. 22, 2009) - Rambler Metals &
Mining PLC (TSX VENTURE:RAB)(AIM:RMM) (the "Company") is pleased to confirm the closing yesterday of its
previously announced placing (by way of private placement), being the issuance of 27,500,000 Ordinary Shares
(the "Placing Shares") placed at 20 pence each (approximately Cdn $0.345 per share) raising Pounds Sterling 5.5
million before expenses.

Ocean Equities Limited, acting as Broker to the Company, received a 5% fee payable in cash on the proceeds
raised by them (being a fee of Pounds Sterling 266,650). Seymour Pierce Limited, acting as placing agent to the
Company, received a 4% fee payable in cash on the proceeds raised by them (being a fee of Pounds Sterling
33,540). Blackmont Capital Inc. received a 5% fee payable in cash on the total proceeds of the Canadian portion
of the offering (being a fee of Cdn$14,403.75).

Admission of the Placing Shares to trading on AIM took place yesterday. Closing of the placing remains subject
to the receipt of final acceptance of the TSX Venture Exchange ("TSX-V"). The Placing Shares issued yesterday
may not, without prior TSX-V approval and subject to applicable Canadian securities laws, be sold or traded on
the TSX-V, or otherwise in Canada, or to or for the benefit of a Canadian resident for a period of four months
ending February 22, 2010.

As a result of the placing, there are 86,885,000 Ordinary Shares of the Company in issue.

Shareholder authority to issue the Placing Shares was obtained at the Company's extraordinary general meeting
held on Tuesday, October 20, 2009 (the "EGM"). Also, amendments to the Company's articles of association were
approved at the EGM to take advantage and account of the provisions of the Companies Act 2006 relating to
electronic communications, disclosure of interests in shares, retirement of directors, directors' duties,
shareholder meetings, proxies, and the Company's objects and authorised share capital.

About the Company

The Rambler property had been a former underground copper and gold producing property that ceased production
when the deposit reached a then third party property boundary. This neighbouring property was subsequently
consolidated before being brought into the Company. The Company now owns a 100% interest in the property.

The principal activity of the Group is carrying out development and exploration on the Rambler Property, a
mineral exploration property located on Newfoundland and Labrador's Baie Verte Peninsula.

FOR FURTHER INFORMATION PLEASE CONTACT:

Rambler Metals and Mining
George Ogilvie, P.Eng.
President and CEO
Canada Limited
709-532-4990

OR

Rambler Metals & Mining Plc
Leslie Little
Company Secretary
[phone]
www.ramblermines.com

OR

Seymour Pierce Limited
Nandita Sahgal
[phone]

OR

Pelham Public Relations
Chelsea Hayes/Klara Kaczmarek
[phone] /20-7337-1524

OR

Ocean Equities Limited
Guy Wilkes
[phone]

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.

Rambler Metals & Mining Plc