Rambler Initiates the First C$5 Million Drawdow...

FOR:  RAMBLER METALS & MINING PLC

TSX VENTURE SYMBOL:  RAB
AIM SYMBOL:  RMM

October 31, 2011

Rambler Initiates the First C$5 Million Drawdown from Sprott Resource Lending Partnership

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - Oct. 31, 2011) - Rambler Metals and
Mining plc (TSX VENTURE:RAB)(AIM:RMM) ("Rambler" or "the Company") announces that its operating subsidiary
Rambler Metals and Mining Canada Limited, as borrower, has initiated the first drawdown of C$5 million from
Sprott Resource Lending Partnership ("Sprott"). The drawdown is part of the C$10 million secured credit
facility ("Credit Facility") announced on 30 September 2011.

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 481,001 Ordinary Shares
(the "Drawdown Fee Shares") have been conditionally allotted to Sprott at C$0.4158 per share, being the 10 day
weighted average closing price of the Ordinary Shares on the TSX Venture Exchange on October 27, 2011, the day
prior to the first 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 have 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 November 2011. Following Admission the Company
will have 124,461,006 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.

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Rambler Metals and Mining
George Ogilvie, P.Eng.
President and CEO
709-800-1929 or 709-800-1921

OR

Rambler Metals & Mining Plc.
Corporate Office
[phone]
[phone] (FAX)
www.ramblermines.com

OR

Seymour Pierce Limited
Nandita Sahgal / Jeremy Stephenson
[phone]

OR

Pelham Bell Pottinger
Philippe Polman
[phone]

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