Rambler Initiates a Further C$2.5 Million Drawd...

31 January 2012

                            Rambler Initiates a Further C$2.5 Million Drawdown From
                                      Sprott Resource Lending Partnership

London,  England & Baie Verte, Newfoundland and Labrador - Rambler Metals and Mining plc (TSXV: RAB, AIM:  RMM)
("Rambler" or "the Company") announces that its operating subsidiary Rambler Metals and Mining Canada  Limited,
as  borrower,  has  initiated  a  further drawdown of C$2.5 million from Sprott  Resource  Lending  Partnership
("Sprott"  or  "the  Lender").   The  drawdown is part of the C$10 million  secured  credit  facility  ("Credit
Facility")  announced on 30 September 2011 which could be draw down in two separate tranches of C$5M  each  for
which  Rambler has already drawn down C$5M. The Lender subsequently agreed to permit Rambler to draw  down  the
remaining C$5M in two C$2.5M increments.

It  is the company's intention to use a portion of these funds to buyout the royalty encumbrances held over the
Ming Mine Property.  Further details on these transactions will be detailed in a series of upcoming releases.

In  connection with the terms of the Credit Facility, a 4% drawdown fee on all amounts drawn under  the  Credit
Facility is to be satisfied by the issue of Ordinary Shares by the Company.  A total of 197,242 Ordinary Shares
(the "Drawdown Fee Shares") have been conditionally allotted to Sprott at C$0.5070 per share, being the 10  day
weighted average closing price of the Ordinary Shares on the TSX Venture Exchange on January 27, 2012, the  day
prior  to  the  C$2.5  million   further  drawdown of the Credit  Facility.   All  Ordinary  Shares  issued  in
satisfaction  of  the  drawdown  fees will be subject to a 4 month hold period in  accordance  with  applicable
Canadian securities laws.

The  application to list the Drawdown Fee shares has been accepted by the TSX Venture Exchange and  application
has  been  made  to  the London Stock Exchange for the Drawdown Fee Shares to be admitted  to  trading  on  AIM
("Admission"). Admission is expected to become effective on 3 February 2012.  Following Admission  the  Company
will have 124,658,248 Ordinary Shares in issue.

The  above  figure  may  be used by shareholders as the denominator for the calculations  by  which  they  will
determine if they are required to notify their interest in, or a change to their interest in, Rambler under the
Disclosure and Transparency Rules of the UK Listing Authority.

For further information, please contact:

George Ogilvie, P.Eng.             Rambler Metals & Mining Plc.                 
President and CEO                  Corporate Office
Rambler Metals and Mining          Tel No: [phone]
Tel No: 709-800-1929               Fax No: [phone]
Tel No: 709-800-1921

Seymour Pierce Limited             Pelham Bell Pottinger               Ocean Equities Limited
Nandita Sahgal / Jeremy            Philippe Polman                     Guy Wilkes
Stephenson                         Tel No: [phone]        Tel  No:  [phone]
Tel No: [phone]                                                    

Website: www.ramblermines.com

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.

Forward Looking Statement:
Some  of  the  statements contained herein may be forward-looking statements, 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.

Rambler Metals & Mining Plc