Admission to AIM

Rambler Metals & Mining PLC
08 April 2005



8th April 2005





Rambler Metals & Mining to float on AIM



Rambler Metals & Mining PLC ('Rambler' or 'the Company') today, Friday 8th April
2005, announces its admission to AIM (AIM: RMM).  The Company has raised £8
million (before expenses) via a placing at 50p.  Ocean Equities is acting as
Broker and Insinger de Beaufort as Nominated Adviser.


Placing Price                                                                                              50p
Number of Ordinary Shares in issue after the Placing                                                40,000,000
Market capitalisation of the Company at the Placing Price                                          £20,000,000
Number of Placing Shares                                                                            16,000,000
Proportion of enlarged issued share capital subject to the Placing                                         40%
Proceeds of the Placing to be received by the Company net of estimated expenses of £639,000         £7,361,000
to be borne by the Company




Rambler was established to invest in the base metals sector in politically
stable jurisdictions.  The first project is an exploration and drilling
programme on the Rambler Property, located on the Baie Verte Peninsula of
Newfoundland and Labrador, Canada.  Rambler acquired the property from Altius
Minerals Corporation (TSXV: ALS) ('Altius') a royalty and exploration company,
in consideration of the issue of 12 million ordinary shares in the Company to
Altius.



The Rambler property contains the former producing Ming Mine, the Ming West Mine
and the unexploited extensions of these VMS (volcanogenic massive sulphide)-type
deposits, which primarily contain  copper, gold and silver.



The funds raised will be used for the exploration programme to be carried out on
the Rambler Property with a view to assessing the feasibility of establishing a
mine.  Altius will contribute its management and exploration expertise to the
exploration programme.



The Board of Rambler has experience in the complete cycle of base metal mining
exploration, mine development, fund raising, metals and concentrate trading and
commercial negotiations with the shipping and smelting industries, and has a
proven track record in exploration and production.  The Board includes Harry
Dobson as non executive chairman, Stanley Neamonitis as Executive Director and
Brian Dalton, President and CEO of Altius, as Non Executive Director.



Harry Dobson, Chairman of Rambler commented: 'Our strategy is to identify
opportunities for acquisition, exploration and development of base metal
deposits in countries with perceived low political risk.  Recent industry
consolidation has created a mid-tier producer void and I believe that the
combined expertise of our board and management team positions us well to achieve
our goal of building Rambler into a successful, intermediate base metal mining
company.'



Between 2001 and 2004, Altius undertook digital compilation of mining and
exploration data and a lithogeochemical programme of the property.  In 2003 two
deep holes were drilled approximately 450 metres down plunge from the Ming
deposit workings and intersected a potentially significant zone of copper-gold
mineralisation that assayed 3.0% copper and 2.8 g/t gold over 4.1 metres.  This
intersection was comparable in grade and thickness to mined portions of the Ming
deposit that featured production averaging 3.5% copper and 2.4 g/t gold. The
drill intercepts also indicate that the Ming deposit remains open at depth.



In 2004, two holes were drilled to test the underlying, parallel Ming Footwall
Zone, which was partially outlined by the previous mining operator.  The first
of these holes was designed to confirm the deepest drill intersection and
returned two mineralised sections separated by a post-mineralisation intrusive;
the upper 39.8 feet (12.1 metres) assayed 2.32% copper and the lower intercept
of 72.5 feet (22.1 metres) assayed 2.26% copper.  The second hole was designed
to test some 200 metres down plunge from the deepest intercept and strayed
off-axis but nonetheless returned sections of 53.0 feet (16.2 metres) at 1.73%
copper, 24.1 feet (7.4 metres) of 1.96% copper, 21.5 feet (6.6 metres) of 1.77%
copper and 94.2 feet (28.7 metres) of 1.41% copper, all separated by barren
intrusive rock.



The results of the drilling programmes that have been undertaken by Altius
support the hypothesis that there exists a considerable extension of the
historic Ming deposit, comprising a massive sulphide zone underlain by a broader
footwall zone of stringer mineralization.



Rambler intends to undertake a two-phase exploration programme.  Phase one of
this programme will comprise a 28,000 metre diamond drilling campaign, using two
drill rigs and borehole geophysical surveys to explore both the Ming massive
sulphide and underlying Footwall Zone, as well as additional targets.  Phase two
of this programme, if warranted, will comprise a rehabilitation of underground
workings for the purpose of conducting an exploration programme from existing
and new underground openings to form the basis of a feasibility study.



The drilling and exploration programme on the Rambler Property commenced this
week.



                                     -ends-

Enquiries:


Guy Wilkes                                              Justine Howarth
Ocean Equities                                          Parkgreen Communications
T: 020 7786 4370                                        T: 020 7493 3173






Notes to editors



The Board

Harry Dobson has a wealth of experience in financing and developing junior
exploration companies.  He is currently the founder and executive Chairman of
TSX and AIM listed Kirkland Lake Gold (AIM: KGI.L). Under Mr Dobson, Kirkland
Lake Gold acquired and put back into production the five past producing mines
that formed the Kirkland Lake Gold camp in Canada.  During this period, Kirkland
Lake Gold has raised over C$85m in finance and has seen its market
capitalization grow to C$197m.  In Stanley Neamonitis, the Company has an expert
in the marketing and sales of concentrates, a factor that is so often overlooked
by junior base metal companies.  Mr Neamonitis was formerly a senior trader for
Glencore where he traded zinc, lead and copper concentrates on a worldwide
basis.  Brian Dalton and the team at Altius, including Geoff Thurlow, bring both
local know-how and exploration / prospecting skills.  Mr Dalton co-founded
Altius Minerals Corp in 1996 and it has developed into an exploration business
centered on Newfoundland and Labrador with a market capitalization of some
C$100m. (Full biographies available)



Rambler

RM&M was formed as a public limited company on 14 April 2004 as a vehicle to
make acquisitions in the mineral resources sector.  On 21 March 2005, it
acquired the entire issued share capital of RML, which owns the Rambler
Property.  The Group holds the rights to a copper-gold project in Newfoundland
known as the Rambler Property, which was acquired from Altius, a Canadian
publicly listed company, pursuant to an agreement dated 22 February 2005.



The Rambler property contains mine infrastructure and workings related to two
past producing mines, the Ming and Ming West.  This includes underground mine
workings at both mines, a small open pit on the Ming West Mine, mine buildings
at both localities, and the Boundary Shaft.  The surface outcrop of the Ming
deposit is at UTM coordinates of 565550mE, 5529400mN (NTS 12A/16 Baie Verte; NAD
27, Zone 21).  The Rambler property comprises three map-staked mineral licenses
and two mining leases.  The mineral licenses contain a total of 36 unpatented
mineral claims. The land entities are contiguous, and cover an area of
approximately 1,497 hectares.  The property features historic production of
2,121,400 tons of ore grading 3.5% copper, 1.0% zinc, 0.07 oz/t gold and 0.6 oz/
t silver from the Ming Mine (1972-1982), and 271,000 tons of ore grading 3.98%
copper, 0.17 oz/t gold and 0.44 oz/t silver from the Ming West Mine (1995-1996).



The area has a history and culture of mining asbestos, gold, copper and
industrial minerals.  The major centre for the region is the town of Baie Verte,
which offers several mining and exploration service providers, deep water
loading, hotels, schools, shopping, medical facilities and recreational
facilities.


                      This information is provided by RNS
            The company news service from the London Stock Exchange