Drilling Report

Rambler Metals & Mining PLC
04 August 2005



4th August 2005



            RESULTS FROM FIRST 5 HOLES RECEIVED AT RAMBLER PROJECT:

            DEPTH EXTENSIONS OF MAIN MINERALIZED TREND CONFIRMED AND

        POTENTIAL FOR NEW MINERALIZED BODIES TO THE NORTHWEST IDENTIFIED



Highlights



-      19.5 feet at 1.70% copper and 7.3 g/T gold (Hole 8 MMS)

-      40 feet at 1.92% copper and 0.19 g/T gold (Hole 8 MFZ)

-      23 feet at 1.62% copper and 0.17 g/T gold (Hole 9 MFZ)



Rambler Metals and Mining plc (AIM:RMM) has received results from the first 5
holes of its planned 20 hole (28,000 metre) programme at the Rambler copper-gold
property near Baie Verte, Newfoundland, Canada.  Two drilling rigs are currently
working on the project.



Mining of the shallowly-plunging Ming Massive Sulphide (MMS) on the property was
conducted by previous operators between 1971 and 1981 and again in 1995-96,
however the deposit remains open to depth.  Last year's drilling highlighted the
additional potential for considerably thicker and lower grade copper
mineralization in the underlying Ming Footwall Zone (MFZ).



The current drill programme is being implemented in accordance with
recommendations put forward in a report completed by Roscoe Postle Associates
and presented in the Company's April 2005 prospectus.  The programme is designed
to test the large-scale potential of both the Ming Massive Sulphide horizon
(MMS) and the Ming Footwall Zone (MFZ).  It is important to note that hole
spacings remain very wide (150-300 metres) during this stage of the Roscoe
Postle programme design, as both the potential for additional parallel plunging
orebodies and the plunge direction of known deposits to depth is being tested.



Holes 1 and 2 were completed in 2003 and Holes 3 and 4 were completed in 2004.
Results are now available for the recently completed Holes 5 through 9.



Holes 5 and 9 were located southeast and northwest respectively from the main
mineralized trend.  Hole 9 intersected a single zone of massive sulphide that
graded 1.29 % copper and 1.6 g/T gold over 6.3 feet (1.92 metres).  The Ming
Footwall Zone included three separate mineralized intervals that in successive
order returned 60 feet  (18.3 metres) of 0.38% copper and 0.25 g/T gold, 46 feet
(14.0 metres) of 0.79% copper and 0.067 g/T gold, and 23 feet (7.08 metres) of
1.62% copper and 0.169 g/T gold.  The hole indicates that the MFZ may be
widening along its northwest margin compared to results from shallower historic
holes.



A borehole transient electromagnetic survey (BHTEM) done within Hole 9 records
an in-hole response at the massive sulphide horizon and off hole responses at
1050, 1100 and 1200 metres (i.e. within the Ming Footwall Zone).



Hole 5 was located to test for extensions at right angles to the main
mineralized trend to the southeast.  Only low-grade copper mineralization was
located indicating an effective edge to the mineralized trend in this area that
is consistent with the location of mine workings at shallower depths.



Hole 8 was designed to intersect mineralization approximately 885 feet (270
metres) down plunge from hole 4, in which a total of 194 feet of MFZ
mineralization was encountered in 4 zones.



The MMS horizon in hole 8 was unexpectedly represented by 5 zones of massive
sulphide mineralization with each separated by zones of disseminated and
stringer mineralization over a total core length of 93.0 feet (28.3 metres).
The uppermost zone of massive sulphide returned 13.5 g/T gold and 1.6% copper
over 1.4 feet (0.42 metres).  The lowermost two zones and intervening stringer
mineralization returned a combined intercept of 7.3 g/T gold and 1.7% copper
over 19.5 feet (5.94 metres) including 40 g/T gold and 6.6% copper over the
lowermost 2.7 feet (0.82 metres).  The presence of five zones of massive
sulphide and the very high gold content is unusual compared to mineralization
encountered in the shallower mine workings.



The underlying MFZ in hole 8 was represented by six zones of stringer
mineralization, typically separated by post-mineralization intrusive rocks and,
in some instances, by lower grade stringer material.  The cumulative total of
stringer mineralization in the zones is 247 feet.  In successive order, zones of
52 feet (16.0 metres) at 1.37% copper and 0.074 g/T gold, 31 feet (9.5 metres)
at 0.92% copper and 0. 093 g/T gold, 39 feet (12.0 metres) at 0.73% copper and
.060 g/T gold, 49 feet (14.8 metres) at 1.16% copper and 0.038 g/T gold, 40 feet
(12.2 metres) at 1.92% copper and 0.185 g/T gold) and 35 feet (10.7 metres) at
0.97% copper and 0.056 g/T gold were returned.



The BHTEM survey in Hole 8 reveals the presence of a strong, complex, offhole
conductor a depth of approximately 1250 metres (i.e., within the Ming Footwall
Zone). The geophysical contractor is completing interpretation of this conductor
to determine its distance and direction from the borehole.



Holes 6 and 7 were located 1970 and 1480 feet (600 and 450 metres) southeast and
northwest respectively from the known northeasterly plunging trend of
mineralization.  The holes were designed to test for new zones of mineralization
on the Ming horizon and were located to optimize geophysical testing within an
estimated 500 feet (150 metre) radius about each hole.  Though both holes failed
to intersect mineralization, a significant offhole conductor centered at a
downhole depth of 1475 feet (450 metres) depth is indicated in hole 7.  A new
hole will be planned to test the conductive body following additional
geophysical surveying and interpretation.



Hole 10, located beyond hole 9 further to the northwest of the known mineralized
plunge, has been completed without intersecting massive sulphide on the Ming
horizon; assay results of mineralized stringer sections are awaited.  Holes 11
and 12 are located down plunge from holes 8 and 2 respectively and are currently
in progress and drilling in the hangingwall.



Harry Dobson, Chairman commenting on these results said: 'We are pleased with
the results of these first 5 holes with the holes that are on the trend being
within the range of expectations and variability you'd expect from the historic
holes.  The higher gold levels are intriguing and represent a trend we hope will
continue as we go deeper.  The holes that have not returned intersections are
outside of the established trend and confirmed the width at this level is
similar to that seen in the shallower levels.  We look forward to the results of
the rest of the Phase 1 drilling which should enable us to provide a much better
picture of the potential of the Rambler Property.'



Assay results for the intervals highlighted in this release are detailed in
Table 1 and hole locations are given in Table 2, which follow this release.
Maps showing the locations of drill intercepts and complete assay results to
date are posted on the company's website at www.ramblermines.com.




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





Exploration on the Rambler property is being conducted by Altius Resources Inc.
under a service agreement with Rambler Metals and Mining plc.  All drill holes
have produced 47.6 millimetre diameter (1.875-inch) NQ diamond drill core.  The
drill core is descriptively logged on site, aligned, marked for sampling and
then split in half, longitudinally, using a diamond saw blade.  One-half of the
core is preserved in core boxes for future reference. The samples comprising the
other half of the core are bagged, sealed and delivered directly to the
analytical laboratory by Altius personnel.  Base metal-bearing samples are
nominally 1 metre to 1.8 metres (3.28 to 5.90 feet) in length except where
specific geologic parameters require that a smaller interval be sampled.
Samples with suspected precious metal content are nominally one metre or less,
depending on the geological circumstances.



The sawed samples are delivered directly to Eastern Analytical Ltd. in
Springdale, Newfoundland by Altius personnel where they are dried, crushed and
pulped.  Samples are crushed to approximately -10 mesh and split using a riffle
splitter to approximately 300 grams.  The sample split is pulverized using a
ring mill to approximately 98% minus 150 mesh.  In addition to regular samples,
blank samples and quarter-split samples are also submitted for crushing/pulping.



The sample pulps are picked up directly at Eastern Analytical by Altius
personnel and returned to the project site at which point analytical standard
samples and duplicate samples from previous batches are inserted into the sample
stream.  All sample rejects are also retrieved from Eastern Analytical by Altius
personnel and securely stored by Altius.



The sample pulps are shipped by courier to Activation Laboratories Ltd. in
Ancaster, Ontario for analysis.  A typical analysis consists of three,
industry-standard components:



(1)  an aqua regia digestion followed by a 34 element ICP analysis,

(2)  a gold assay consisting of a one assay ton fire assay with finish by atomic
     absorption, and

(3)  an assay of specific base metals by aqua regia digestion followed by atomic
     absorption spectroscopy for those elements which exceed the limits of ICP
     accuracy.



Check assays for the Rambler project are being conducted by ALS Chemex, using
industry-standard techniques posted on their website.  The drill programme and
sampling protocol are being supervised by J.Geoffrey Thurlow, Ph.D., P.Geo., of
VMS Consultants Inc. and a Director of Altius; a Qualified Person as defined
under the Canadian Securities Administrators' National Instrument 43-101.



Table 1

 Drill                From           To       Length           Cu           Au
                  (meters)     (meters)     (meters)          (%)        (ppb)
 Hole
 RM05-05
 RM05-06
 RM05-07
 RM05-08           1023.54      1029.48         5.94         1.69         7313
 RM05-08           1029.48      1055.24        25.76         0.23          331
 RM05-08           1065.80      1072.28         6.48         0.19          210
 RM05-08           1105.87      1121.84        15.97         1.37           74
 RM05-08           1127.95      1137.43         9.48         0.92           93
 RM05-08           1139.35      1151.35        12.00         0.73           60
 RM05-08           1192.92      1207.72        14.80         1.16           38
 RM05-08           1220.65      1232.89        12.24         1.92          185
 RM05-08           1220.65      1226.45         5.51         2.74          261
 RM05-08           1269.67      1280.35        10.68         0.97           56
 RM05-09            875.00       876.92         1.92         1.29         1613
 RM05-09            876.92       895.18        18.26         0.38          253
 RM05-09            898.42       900.66         2.24         0.43           84
 RM05-09            901.35       903.71         2.36         0.73          221
 RM05-09            904.77       907.29         2.52         0.43          122
 RM05-09            978.90       982.98         4.08         0.44           89
 RM05-09            993.70      1007.70        14.00         0.79           67
 RM05-09           1021.89      1028.97         7.08         1.62          169

Table 2

       Drill        UTM                   UTM     Elevation       Length
                                                   (meters)     (meters)
       Hole              Easting     Northing
       RM05-05            567118      5530199           160       1328.3
       RM05-06            566801      5529276           160        803.0
       RM05-07            565713      5530284           130        686.0
       RM05-08            567123      5530471           155       1355.0
       RM05-09            566847      5530364           160       1342.3

         *UTM Coordinates given as NAD27 for Canada, Zone 21 projection


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