Rambler Develops Through High Grade Gold Zone

FOR: RAMBLER METALS & MINING PLC TSX VENTURE SYMBOL: RAB AIM SYMBOL: RMM May 10, 2011 Rambler Develops Through High Grade Gold Zone Returning 227.15 g/t Gold, 2.37% Copper and 60.17 g/t Silver Over 4.50 Metres LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - May 10, 2011) - Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') is pleased to announce that it has intersected visible gold mineralization during pre-production development on the 1700 level of its Ming Copper-Gold Mine. HIGHLIGHTS -- Visible Gold - combined development face sampling return grade of 44.47 g/t gold, 1.96% copper, and 20.02 g/t silver. Including composited chip sample of 227.15 g/t gold over 4.50 metres -- Composited historic pillar sample returning grade of 5.76 g/t gold, 3.47% copper, and 103.23 g/t silver over 3.90 metres -- Exploration program being designed to further define the extent and controlling structure of the native gold -- Ongoing sampling and mapping of exposed faces to determine extent of high grade copper and gold mineralization within the immediate area Larry Pilgrim, P. Geo, Chief Geologist commented: "This new discovery is a confirmation of just how underexplored the Ming Mine truly is with respect to gold mineralization. There have been historical reports of visible gold at the Ming Mine and we have intersected significant gold mineralization in diamond drill holes; however the discovery of gold veinlets is a first for Rambler's exploration program. The Company is designing an exploration program to further evaluate the potential of this zone. We are, however, focused on the continuation of pre-production development to ensure the Ming Mine enters commercial production during the second half of this year." Table 1: Sampling of Native Gold and Historical Pillars on the 1700 level. ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- From To Length Cu Au Ag Zn Native Gold (m) (m) (m) (%) (g/t) (g/t) (%) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Development Chip 1 0.00 5.00 5.00 0.88 3.03 9.71 0.03 ---------------------------------------------------------------------------- Development Chip 2 0.00 4.50 4.50 2.37 227.15 60.17 0.12 ---------------------------------------------------------------------------- Development Chip 3 0.00 2.20 2.20 4.45 8.74 22.43 0.74 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Development Muck 1 -- -- -- 2.06 25.38 17.66 0.04 ---------------------------------------------------------------------------- Development Muck 2 -- -- -- 1.59 1.29 6.15 0.03 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Total Composite -- -- -- 1.96 44.47 20.02 0.05 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- From To Length Cu Au Ag Zn Pillars (m) (m) (m) (%) (g/t) (g/t) (%) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Pillar 1 0.00 4.50 4.50 1.69 2.43 16.21 0.10 ---------------------------------------------------------------------------- Pillar 2 0.00 3.90 3.90 3.47 5.76 103.23 1.45 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Total Composite -- -- -- 2.52 4.00 56.61 0.72 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- (i) All reported samples are composited and uncut. Visible Gold Mineralization The Ming deposit hosts significant gold mineralization throughout the entire massive sulphide horizon. While there are zones, such as the 1806 Zone, that have reported anomalous gold grades, the discovery of visible gold on the 1700 level is a first for Rambler's exploration program. Detailed mapping at the end of the 1700 stoping level has led to the discovery of native gold veinlets associated with bornite and chalcopyrite rich massive sulphides. Five sets of development samples were collected and composited returning an average uncut grade of 44.47 g/t gold, 1.96 % copper, and 20.02 g/t silver. Two of the sample sets were retrieved from development muck while the other three samples were representative of the entire working face on the level. Table 1 above describes each of the sample sets recorded in this campaign while a complete list of all samples collected can be found in Appendix 1. Observation of the stope walls, both up and down plunge, suggests that the massive sulphide horizon exists beyond the limits of the previous mining. Further, all pillars from previous operations remain intact and while visually the mineralization appears to be similar, additional mapping and assaying will be required to confirm the overall composition and grade. To date two separate sample sets have been collected in the historic stope returning an average grade of 4.00 g/t gold, 2.52 % copper, and 56.61 g/t silver. (Table 1) Due to inaccessibility several meters of the mineralization remain un-sampled at present, additional samples will be collected and reported in future press releases. Rambler is designing an advanced exploration program with the immediate goal of defining the extent of the native gold on the 1700 level and to evaluate the potential of the remaining pillars within the historic stope. This new exploration program will be in addition to the current program, with the Company targeting an improvement in the existing reserve/ resource estimates through the extension of current mineralized zones and new discoveries. These programs will continue alongside pre-production development as new access to the ore body is gained. Larry Pilgrim, P.Geo. is the Qualified Person responsible for the technical content of this release and has reviewed and approved it accordingly. Mr. Pilgrim is an independent consultant contracted by Rambler Metals and Mining plc. All tonnes reported are dry metric tonnes. Forward Looking Statement: Some of the statements contained herein may be forward-looking statement, 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. Appendix 1 - Complete Sample List for 1700 Level. ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Sample From To Length Cu Au Zn Ag Description No (m) (m) (m) (%) (g/t) (%) (g/t) ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 1700 Lv Native Gold 34180 0.00 0.50 0.50 0.22 1.83 0.02 5.50 --------------------------------------------------------- Chip Sample 1 34181 0.50 1.00 0.50 0.27 1.80 0.01 8.82 --------------------------------------------------------- 34182 1.00 1.50 0.50 0.02 0.07 0.01 0.20 --------------------------------------------------------- 34183 1.50 2.00 0.50 0.19 2.15 0.02 5.60 --------------------------------------------------------- 34184 2.00 2.50 0.50 0.26 5.85 0.02 9.20 --------------------------------------------------------- 34185 2.50 3.00 0.50 0.30 2.37 0.02 15.30 --------------------------------------------------------- 34186 3.00 3.50 0.50 1.42 2.30 0.08 24.90 --------------------------------------------------------- 34187 3.50 4.00 0.50 0.90 5.62 0.02 9.59 --------------------------------------------------------- 34188 4.00 4.50 0.50 3.20 6.54 0.08 10.70 --------------------------------------------------------- 34189 4.50 5.00 0.50 2.06 1.78 0.06 7.29 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Composited Grade 0.00 5.00 5.00 0.88 3.03 0.03 9.71 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 1700 Lv Native Gold 29520 0.00 0.50 0.50 0.65 6.02 0.06 22.20 --------------------------------------------------------- Chip Sample 2 29521 0.50 1.00 0.50 1.23 5.76 0.03 33.70 --------------------------------------------------------- 29522 1.00 1.50 0.50 1.22 9.41 0.02 26.10 --------------------------------------------------------- 29523 1.50 2.00 0.50 5.40 1989.00 0.04 153.40 --------------------------------------------------------- 29524 2.00 2.50 0.50 3.50 2.69 0.06 80.50 --------------------------------------------------------- 29525 2.50 3.00 0.50 7.70 25.17 0.66 210.90 --------------------------------------------------------- 34177 3.00 3.50 0.50 0.20 2.94 0.02 2.50 --------------------------------------------------------- 34178 3.50 4.00 0.50 0.11 1.79 0.04 2.30 --------------------------------------------------------- 34179 4.00 4.50 0.50 1.35 1.60 0.14 9.97 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Composited Grade 0.00 4.50 4.50 2.37 227.15 0.12 60.17 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 1700 Lv Native Gold 30222 0.00 0.50 0.50 2.70 1.88 0.09 34.50 --------------------------------------------------------- Chip Sample 3 30223 0.50 1.00 0.50 4.70 11.59 0.04 9.97 --------------------------------------------------------- 30224 1.00 1.30 0.30 1.47 4.28 0.05 17.60 --------------------------------------------------------- 30225 1.30 1.60 0.30 6.70 18.34 0.18 33.70 --------------------------------------------------------- 30226 1.60 1.90 0.30 7.90 16.28 0.05 29.50 --------------------------------------------------------- 30227 1.90 2.20 0.30 4.20 2.74 0.05 9.59 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Composited Grade 0.00 2.20 2.20 4.45 8.74 0.07 22.43 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 1700 Lv Native Gold 30201 1.00 2.28 1.02 0.04 14.96 --------------------------------------------------------- Muck Sample 1 30202 1.00 1.12 0.77 0.03 7.29 --------------------------------------------------------- 30203 1.00 4.90 2.06 0.05 13.81 --------------------------------------------------------- 30204 1.00 1.19 2.35 0.06 14.57 --------------------------------------------------------- 30205 1.00 2.80 234.00 0.03 63.66 --------------------------------------------------------- 30206 1.00 0.50 1.44 0.02 4.00 --------------------------------------------------------- 30207 1.00 1.39 2.10 0.03 10.35 --------------------------------------------------------- 30208 1.00 0.70 4.01 0.02 18.41 --------------------------------------------------------- 30209 1.00 1.94 3.54 0.05 11.89 --------------------------------------------------------- 30210 1.00 3.80 2.46 0.06 17.64 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Composited Grade 10.00 2.06 25.38 0.04 17.66 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 1700 Lv Native Gold 30211 1.00 0.71 1.28 0.02 2.30 --------------------------------------------------------- Muck Sample 1 30212 1.00 2.02 1.19 0.03 10.74 --------------------------------------------------------- 30213 1.00 3.70 1.59 0.05 7.67 --------------------------------------------------------- 30214 1.00 0.19 0.72 0.01 1.30 --------------------------------------------------------- 30215 1.00 5.00 1.43 0.08 13.81 --------------------------------------------------------- 30216 1.00 0.26 1.81 0.01 4.50 --------------------------------------------------------- 30217 1.00 0.15 0.29 0.01 2.00 --------------------------------------------------------- 30218 1.00 0.67 2.00 0.02 6.90 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Composited Grade 8.00 1.59 1.29 0.03 6.15 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 1700 Lv Pillar 1 34190 0.00 0.50 0.50 1.21 2.02 0.21 18.00 --------------------------------------------------------- 34191 0.50 1.00 0.50 0.44 1.57 0.08 15.30 --------------------------------------------------------- 34192 1.00 1.50 0.50 0.42 2.66 0.12 20.30 --------------------------------------------------------- 34193 1.50 2.00 0.50 0.21 0.53 0.03 0.70 --------------------------------------------------------- 34194 2.00 2.50 0.50 0.50 2.28 0.16 4.20 --------------------------------------------------------- 34195 2.50 3.00 0.50 1.19 2.61 0.08 11.10 --------------------------------------------------------- 34196 3.00 3.50 0.50 4.10 1.86 0.06 20.70 --------------------------------------------------------- 34197 3.50 4.00 0.50 1.27 5.87 0.04 24.20 --------------------------------------------------------- 34198 4.00 4.50 0.50 5.90 2.45 0.10 31.40 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Composited Grade 0.00 4.50 4.50 1.69 2.43 0.10 16.21 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- 1700 Lv Pillar 2 34201 0.00 0.50 0.50 1.39 27.04 5.70 28.40 --------------------------------------------------------- 34202 0.50 1.00 0.50 0.48 1.26 0.85 13.00 --------------------------------------------------------- 34203 1.00 1.50 0.50 1.60 1.40 0.32 29.90 --------------------------------------------------------- 34204 1.50 2.00 0.50 2.35 11.41 2.70 57.90 --------------------------------------------------------- 34205 2.00 2.50 0.50 4.30 0.91 0.35 122.70 --------------------------------------------------------- 34206 2.50 3.00 0.50 7.50 1.07 0.33 333.60 --------------------------------------------------------- 34207 3.00 3.50 0.50 5.10 1.14 0.52 138.10 --------------------------------------------------------- 34208 3.50 3.90 0.40 5.40 0.93 0.64 102.00 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Composited Grade 0.00 3.90 3.90 3.47 5.76 1.45 103.23 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- -30- FOR FURTHER INFORMATION PLEASE CONTACT: Rambler Metals & Mining Plc George Ogilvie, P.Eng. President and CEO 709-800-1929 OR Rambler Metals & Mining Plc Corporate Office +44 (0) 20 8652-2700 +44 (0) 20 8652-2719 (FAX) www.ramblermines.com OR Seymour Pierce Limited Nandita Sahgal / Jeremy Stephenson +44 (0) 20-7107-8000 OR Pelham Bell Pottinger Charles Vivian +44 (0) 20 7861 3126 OR Pelham Bell Pottinger Philippe Polman +44 (0) 20 7861 3861 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

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