Resource Update

FOR: RAMBLER METALS & MINING PLC TSX VENTURE SYMBOL: RAB AIM SYMBOL: RMM February 26, 2009 Rambler Metals and Mining plc Updated NI43-101 Resource Estimate for the Ming Mine LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR--(Marketwire - Feb. 26, 2009) - Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) is pleased to announce that it has completed a National Instrument 43-101 compliant resource update for its copper - gold Ming Mine Project, located on the Baie Verte Peninsula, Newfoundland, Canada. The resource was estimated using all diamond drill information previously recorded in its first NI43-101 publication (30 April 2008) and all subsequent underground diamond drilling drilled up to January 2009. /T/ RESOURCE HIGHLIGHTS --------------------------------------------------------------------------- --------------------------------------------------------------------------- Resource Quantity Copper Grade Gold Grade Silver Grade Zinc Grade Category (000't) (%) (g/t) (g/t) (%) --------------------------------------------------------------------------- Measured 1,151 2.14 2.40 14.11 0.78 Indicated 2,500 2.25 0.90 4.97 0.21 TOTAL Measured & Indicated 3,651 2.21 1.37 7.86 0.39 Inferred 1,498 1.72 2.05 9.36 0.63 --------------------------------------------------------------------------- --------------------------------------------------------------------------- --------------------------------------------------------------------------- --------------------------------------------------------------------------- Contained Resource Copper Contained Gold Contained Silver Contained Zinc Category (tonnes) (oz) (oz) (tonnes) --------------------------------------------------------------------------- Measured 24,606 88,808 522,245 8,954 Indicated 56,217 72,527 399,862 5,249 TOTAL Measured & Indicated 80,823 161,335 922,107 14,203 Inferred 25,836 98,740 450,673 9,369 (i) Mineral Resources are not Mineral Reserves and have not demonstrated economic viability. All figures are rounded to reflect the accuracy of the estimate. Cut off grades of 1.0 per cent copper for the massives, 1.25 grams per tonne gold for the 1806 zone, 1.25 per cent copper for the upper footwall zone and 2.00 per cent for the lower footwall zone are based on an NSR model and metal prices of US$1.92/lb copper and US$800/oz gold, and US$10/oz silver. Zinc does not contribute to the revenues. --------------------------------------------------------------------------- --------------------------------------------------------------------------- /T/ Key changes from the previous reported NI43-101 Resource Estimate (30 April 2008) - 7.4Mt of sub 2% mineralization in the Lower Footwall Zone excluded as a result of increasing the copper cut- off grade from 1.25% to 2.00% as it will not form part of the initial start-up mine plan. - 2,024,000t ore resource for the Ming Massive Zones in the measured and indicated categories; increased by 99% along with 1,498,000t in the inferred category (+28%). - 41,290t contained copper for the Ming Massives in the measured and indicated categories; increased by 52%. - 161,335oz total gold resource for the Ming Massives Zones in the measured and indicated categories; increased by 110% along with 98,740 Au oz in the inferred category (+86%). - 922,107oz total silver resource for the Ming Massives Zones in the measured and indicated categories; increased by 135% along with 450,673 Ag oz in the inferred category (+25%). Further details are available in Appendix 1 George Ogilvie, Rambler's President and CEO commented "Rambler has always believed that additional high grade resources including gold and silver could be added to the existing NI43-101 resource. The latest resource is significant in that we have been able to increase the tonnes, contained metal, gold and silver in the high grade massive sulphide zones. The high grade massive sulphide zones will form the basis for our initial mine plan which will be close to the historical production rate of 240,000 tonnes per annum. We believe this plan minimizes risk to Rambler shareholders by minimizing capital expenditures and maximizing profit margins during periods of low copper commodity prices. Upon completion of the project financing it is our intention to rapidly develop the Ming Massive Sulphide Zones bringing them into production in 2010. Upon the re-commencement of exploration diamond drilling additional resources will be forthcoming as all mineralized zones are open in all directions". FUTURE PLANS - Rambler is currently conducting a feasibility study on the Ming Mine that will target the high grade copper- gold massives sulphides as demonstrated in the latest NI43-101 Resource Estimate update. - Upon completion of the feasibility study Rambler will register the project with the appropriate government agencies to begin the process of environmental registration. - Rambler is currently engaged in discussions with a number of third parties, which it holds confidentiality agreements with, for the Project Financing. - Upon completion of the Project Financing, development and construction activities will begin to bring the Mine into production in 2010. - As the ore bodies are open in all directions exploration activity with the purpose of adding additional resources will recommence. A recent TITAN24 Geophysics DCIP and MT survey over Rambler's entire property revealed a number of new anomalies that require exploration drilling (see Rambler press release dated January 22, 2009) Mineral Resource Estimate for the Ming Massive Sulphide Horizon when compared to the previous reported NI43-101 Resource Estimate (30 April 2008) - 1807 Zone -- Upgraded 95,000 ore tonnes into the measured category; representing a 21% overall increase From 233,000t to 328,000t in the measured, from 108,000t to 105,000t in the indicated and from 32,000t to 20,000t in the inferred. -- 7% increase in tonnes of contained copper From 9,696t to 12,061t in the measured, from 5,064t to 4,621t in the indicated and from 1,354t to 638t in the inferred. -- 11% increase in gold oz From 14,428oz to 18,578oz in the measured, from 5,531oz to 5,793oz in the indicated and from 2,905oz to 921oz in the inferred. -- 27% increase in silver oz From 52,403oz to 74,007oz in the measured, from 23,552oz to 25,857oz in the indicated and from 6,540oz to 5,147oz in the inferred. - 1806 Zone -- A newly discovered gold rich Massive Sulphide Zone -- 349,000 ore tonnes added in the measured and indicated 267,000t in the measured, 82,000t in the indicated and 138,000t in the inferred. -- 2,118 tonnes of contained copper added in the measured and indicated 1,501t in the measured, 617t in the indicated and 1,022t in the inferred. -- 44,475 gold oz added in the measured and indicated 37,004 Au oz in the measured, 7,471 Au oz in the indicated and 8,733 Au oz in the inferred. -- 312,164 silver oz added in the measured and indicated 275,188 Ag oz in the measured, 36,976 Ag oz in the indicated and 37,097 Ag oz in the inferred. - Ming South Up Plunge -- A newly discovered Massive Sulphide Zone -- 135,000 ore tonnes added in the measured and indicated 94,000t in the measured, 41,000t in the indicated and 3,000t in the inferred. -- 4,290t tonnes of contained copper added in the measured and indicated 3,241t in the measured, 1,094t in the indicated and 46t in the inferred. -- 4,839 gold oz added in the measured and indicated 3,485 Au oz in the measured, 1,354 Au oz in the indicated and 159 Au oz in the inferred. -- 32,957 silver oz added in the measured and indicated 22,144 Ag oz in the measured, 10,813 Ag oz in the indicated and 1,009 Ag oz in the inferred. - Ming North and South Down Plunge -- 43% overall increase in ore tonnes From 252,000t to 463,000t in the measured, from 413,000t to 645,000t in the indicated and from 1,039,000t to 1,336,000t in the inferred. -- 50% increase in tonnes of contained copper From 4,729t to 7,803t in the measured, from 7,725t to 10,353t in the indicated and from 15,788t to 24,129t in the inferred. -- 64% increase in gold oz From 21,188oz to 29,741oz in the measured, from 31,875oz to 49,998oz in the indicated and from 50,093oz to 88,928oz in the inferred. -- 23% increase in silver oz; From 98,258oz to 150,906oz in the measured, from 166,283oz to 203,337oz in the indicated and from 354,326oz to 407,420oz in the inferred. Mineral Resource Estimate for the Stringer Sulphide Zones when compared to the previous reported NI43-101 Resource Estimate (30 April 2008) - Upper Footwall Zone -- 25,000 ore tonnes reduction, 1,698 tonnes contained copper reduction, 534 Au oz reduction and 5,047 Ag oz reduction all as a result of the new grade estimation parameters compiled by SRK Consulting. Although the new search parameters have increased significantly in the dip direction, the strike search ellipse has decreased by nearly 25%. - Lower Footwall Zone -- 7,402,000 ore tonnes reduction in the indicated category, 115,989 tonnes contained copper reduction, 16,975 Au oz reduction and 220,467 Ag oz reduction. All of these reductions were predominantly a result of Rambler increasing the cut-off grade in the Lower Footwall Zone to 2% Cu from 1.25% Cu cut-off in the previous reported NI43-101 Resource Estimate (30 April 2008) based on up to date NSR modeling and assumptions. With reference to the Lower Footwall Zone sensitivity tables, it should be noted that any increase in Cu commodity prices over the long term assumption of $1.92 /lb could potentially see cut-off grades reduced with a resulting increase in resources. It is Rambler's belief that the long term fundamentals for Cu remain strong and that $1.92 /lb represents a conservative estimate of long term Cu pricing. For more information and a complete listing of all RMM drill intersections, corresponding maps, figures and NI43-101 compliance information please visit our website at www.ramblermines.com. 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 are dry metric tonnes. APPENDIX 1 MINERAL RESOURCE ESTIMATE The 19 February 2009 Mineral Resource Statement for the Ming Mine Project is summarized in the following table: /T/ Ming Mine - Mineral Resource Statement - 19 February 2009 Rambler Metals & Mining Canada Ltd ---------------------------------------------------------------------------- Resource Quantity Grades Contained metal Classification-------------------------------------------------------------- Copper Gold Silver Zinc Copper Gold Silver Zinc (000' t) % g/t g/t % tonnes oz oz tonnes ---------------------------------------------------------------------------- Measured ---------------------------------------------------------------------------- Ming Massives: 1807 Zone 328 3.68 1.76 7.03 0.75 12,061 18,578 74,007 2,465 ---------------------------------------------------------------------------- 1806 Zone 267 0.56 4.32 32.09 1.31 1,501 37,004 275,188 3,503 ---------------------------------------------------------------------------- North and South Down-Plunge 463 1.68 2.00 10.13 0.58 7,803 29,741 150,906 2,678 ---------------------------------------------------------------------------- South Up-Plunge 94 3.46 1.16 7.36 0.33 3,241 3,485 22,144 308 ---------------------------------------------------------------------------- Sub-Total Massive Sulphides 1,151 2.14 2.40 14.11 0.78 24,606 88,808 522,245 8,954 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Upper Footwall Zone ---------------------------------------------------------------------------- Lower footwall Zone ---------------------------------------------------------------------------- Sub-Total Stringer Sulphides ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Total 1,151 2.14 2.40 14.11 0.78 24,606 88,808 522,245 8,954 ---------------------------------------------------------------------------- Indicated ---------------------------------------------------------------------------- Ming Massives: 1807 Zone 105 4.41 1.72 7.68 0.55 4,621 5,793 25,857 575 ---------------------------------------------------------------------------- 1806 Zone 82 0.75 2.82 13.97 0.70 617 7,471 36,976 579 ---------------------------------------------------------------------------- North and South Down-Plunge 645 1.61 2.41 9.81 0.56 10,353 49,998 203,377 3,623 ---------------------------------------------------------------------------- South Up-Plunge 41 2.69 1.04 8.28 0.24 1,094 1,354 10,813 97 ---------------------------------------------------------------------------- Sub-Total Massive Sulphides 873 1.91 2.30 9.88 0.56 16,684 64,616 277,023 4,874 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Upper Footwall Zone 365 2.73 0.22 2.67 0.05 9,963 2,601 31,316 173 ---------------------------------------------------------------------------- Lower footwall Zone 1,262 2.34 0.13 2.25 0.02 29,570 5,310 91,523 202 ---------------------------------------------------------------------------- Sub-Total Stringer Sulphides 1,627 2.43 0.15 2.34 0.03 39,533 7,911 122,839 375 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Total 2,500 2.25 0.90 4.97 0.21 56,217 72,527 399,862 5,249 ---------------------------------------------------------------------------- Inferred ---------------------------------------------------------------------------- Ming Massives: 1807 Zone 20 3.12 1.40 7.81 0.33 638 921 5,147 68 ---------------------------------------------------------------------------- 1806 Zone 138 0.74 1.97 8.35 0.61 1,022 8,733 37,097 838 ---------------------------------------------------------------------------- North and South Down-Plunge 1,336 1.81 2.07 9.48 0.63 24,129 88,928 407,420 8,445 ---------------------------------------------------------------------------- South Up-Plunge 3 1.36 1.45 9.21 0.52 46 159 1,009 18 ---------------------------------------------------------------------------- Sub-Total Massive Sulphides 1,498 1.72 2.05 9.36 0.63 25,836 98,740 450,673 9,369 ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Upper Footwall Zone ---------------------------------------------------------------------------- Lower footwall Zone ---------------------------------------------------------------------------- Sub-Total Stringer Sulphides ---------------------------------------------------------------------------- ---------------------------------------------------------------------------- Total 1,498 1.72 2.05 9.36 0.63 25,836 98,740 450,673 9,369 ---------------------------------------------------------------------------- (i) Mineral Resources are not Mineral Reserves and have not demonstrated economic viability. All figures are rounded to reflect the accuracy of the estimate. Cut off grades of 1.0 per cent copper for the massives, 1.25 grams per tonne gold for the 1806 zone, 1.25 per cent copper for the upper footwall zone and 2.00 per cent for the lower footwall zone are based on an NSR model and metal prices of US$1.92/lb copper and US$800/oz gold, and US$10/oz silver. Zinc does not contribute to the revenues. /T/ MING MINE PROJECT Massive Sulphide Horizon (1807, 1806, North and South Zones) The copper-gold rich massive sulphides historically mined were the North and South Zones at 3.5% copper with 2.40 g/t gold. The zone averaged 3.7 metres in thickness with a strike length of 125 metres, plunging 30 degrees to the north east over 1500 metres. Mining took place from surface to the 2700 level (vertical feet) where ore was trucked to the shaft on the 1800 level. Rambler Metals and Mining's new drilling has extended the North and South Zone nearly 750 metres and the 1807 Zone 400 metres beyond the old property boundary. In addition to the down plunge extensions of these zones the Ming South has revealed a new resource up-plunge of any previously mined areas. This new resource is within 50m of the existing infrastructure and remains a target for future drill programs. The 1806 zone is a newly defined gold zone discovered during the underground diamond drilling program. This zone has added new gold ounces to the resource and will be an integral part of the initial 5 year start-up plan. As with all zones within the Ming deposit the 1806 Zone remains open downplunge and has the potential to significantly increase with additional drilling. Each of these zones is open at depth and remains a target for future exploration. The table below summarizes the copper grade sensitivities for the 1807 Zone: /T/ 1807 Zone - February 18, 2009 ----------------------------- Sensitivity Table for Measured Resources ---------------------------------------------------------------------- Quantity Grades Contained metal Interval ------------------------------------------------------------ Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ---------------------------------------------------------------------- ---------------------------------------------------------------------- 0.00 351 3.48 1.68 6.73 0.71 12,208 18,974 76,004 2,499 ---------------------------------------------------------------------- 0.25 348 3.51 1.69 6.78 0.72 12,204 18,949 75,864 2,498 ---------------------------------------------------------------------- 0.50 345 3.54 1.71 6.83 0.72 12,190 18,905 75,658 2,496 ---------------------------------------------------------------------- 0.75 337 3.61 1.74 6.94 0.74 12,139 18,773 75,071 2,487 ---------------------------------------------------------------------- 1.00 328 3.68 1.76 7.03 0.75 12,061 18,578 74,007 2,465 ---------------------------------------------------------------------- 1.25 310 3.83 1.83 7.19 0.78 11,861 18,195 71,700 2,425 ---------------------------------------------------------------------- 1.50 293 3.97 1.89 7.36 0.81 11,630 17,788 69,359 2,381 ---------------------------------------------------------------------- 1.75 279 4.09 1.94 7.52 0.84 11,398 17,386 67,391 2,338 ---------------------------------------------------------------------- 2.00 262 4.23 2.00 7.71 0.87 11,089 16,850 65,036 2,285 ---------------------------------------------------------------------- 2.25 240 4.42 2.08 8.01 0.92 10,617 16,064 61,855 2,215 ---------------------------------------------------------------------- 2.50 216 4.65 2.18 8.37 0.98 10,035 15,114 58,092 2,114 ---------------------------------------------------------------------- 5.00 75 6.89 2.97 10.60 1.04 5,200 7,210 25,718 787 ---------------------------------------------------------------------- Sensitivity Table for Indicated Resources ---------------------------------------------------------------------- Quantity Grades Contained metal Interval ------------------------------------------------------------ Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ---------------------------------------------------------------------- ---------------------------------------------------------------------- 0.00 113 4.14 1.65 7.44 0.52 4,680 6,012 27,026 586 ---------------------------------------------------------------------- 0.25 113 4.15 1.66 7.46 0.52 4,680 6,011 27,012 586 ---------------------------------------------------------------------- 0.50 111 4.19 1.67 7.49 0.52 4,675 5,979 26,836 584 ---------------------------------------------------------------------- 0.75 110 4.25 1.69 7.56 0.53 4,663 5,944 26,645 583 ---------------------------------------------------------------------- 1.00 105 4.41 1.72 7.68 0.55 4,621 5,793 25,857 575 ---------------------------------------------------------------------- 1.25 101 4.55 1.77 7.83 0.57 4,575 5,716 25,319 570 ---------------------------------------------------------------------- 1.50 97 4.66 1.81 7.96 0.58 4,527 5,649 24,842 565 ---------------------------------------------------------------------- 1.75 94 4.76 1.85 8.08 0.60 4,477 5,583 24,418 561 ---------------------------------------------------------------------- 2.00 92 4.82 1.87 8.14 0.60 4,444 5,530 24,121 557 ---------------------------------------------------------------------- 2.25 91 4.87 1.88 8.20 0.61 4,410 5,482 23,876 554 ---------------------------------------------------------------------- 2.50 87 4.98 1.92 8.34 0.63 4,314 5,350 23,226 547 ---------------------------------------------------------------------- 5.00 37 6.66 2.35 9.97 0.76 2,435 2,756 11,709 278 ---------------------------------------------------------------------- Sensitivity Table for Inferred Resources ---------------------------------------------------------------------- Quantity Grades Contained metal Interval ------------------------------------------------------------ Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ---------------------------------------------------------------------- ---------------------------------------------------------------------- 0.00 21 3.06 1.37 7.68 0.33 643 924 5,189 68 ---------------------------------------------------------------------- 0.25 21 3.06 1.37 7.68 0.33 643 924 5,189 68 ---------------------------------------------------------------------- 0.50 21 3.06 1.37 7.68 0.33 643 924 5,189 68 ---------------------------------------------------------------------- 0.75 21 3.07 1.37 7.70 0.33 643 923 5,185 68 ---------------------------------------------------------------------- 1.00 20 3.12 1.40 7.81 0.33 638 921 5,147 68 ---------------------------------------------------------------------- 1.25 19 3.26 1.49 8.20 0.36 622 913 5,028 68 ---------------------------------------------------------------------- 1.50 18 3.35 1.54 8.45 0.37 611 903 4,948 67 ---------------------------------------------------------------------- 1.75 17 3.43 1.58 8.63 0.37 598 886 4,838 65 ---------------------------------------------------------------------- 2.00 17 3.51 1.62 8.81 0.38 582 864 4,696 62 ---------------------------------------------------------------------- 2.25 16 3.60 1.67 9.05 0.38 561 838 4,531 60 ---------------------------------------------------------------------- 2.50 14 3.71 1.75 9.39 0.40 531 805 4,326 57 ---------------------------------------------------------------------- 5.00 0 9.20 2.15 11.67 0.94 44 33 181 5 ---------------------------------------------------------------------- /T/ The table below summarizes the gold grade sensitivities 1806 Zone: /T/ 1806 Zone - February 18, 2009 ----------------------------- Sensitivity Table for Measured Resources ----------------------------------------------------------------------- Quantity Grades Contained metal Interval ------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Au g/t (000' t) % g/t g/t % tonnes oz oz tonnes ----------------------------------------------------------------------- ----------------------------------------------------------------------- 0.00 622 0.30 2.16 16.12 0.66 1,840 43,247 322,521 4,126 ----------------------------------------------------------------------- 0.25 529 0.33 2.52 18.73 0.77 1,768 42,815 318,340 4,066 ----------------------------------------------------------------------- 0.50 448 0.38 2.91 21.67 0.89 1,691 41,855 311,857 3,979 ----------------------------------------------------------------------- 0.75 380 0.43 3.31 24.72 1.01 1,634 40,514 302,281 3,857 ----------------------------------------------------------------------- 1.00 310 0.51 3.87 28.89 1.19 1,569 38,555 287,921 3,691 ----------------------------------------------------------------------- 1.25 267 0.56 4.32 32.09 1.31 1,501 37,004 275,188 3,503 ----------------------------------------------------------------------- 1.50 219 0.61 4.95 36.83 1.50 1,339 34,921 259,707 3,290 ----------------------------------------------------------------------- 1.75 195 0.65 5.36 39.81 1.64 1,268 33,682 250,016 3,198 ----------------------------------------------------------------------- 2.00 177 0.68 5.73 42.29 1.76 1,199 32,571 240,510 3,114 ----------------------------------------------------------------------- 2.25 155 0.66 6.23 45.91 1.88 1,028 31,102 229,062 2,923 ----------------------------------------------------------------------- 2.50 142 0.68 6.60 48.24 1.97 965 30,070 219,801 2,787 ----------------------------------------------------------------------- 5.00 81 0.78 8.88 62.69 2.45 629 23,034 162,621 1,975 ----------------------------------------------------------------------- Sensitivity Table for Indicated Resources ---------------------------------------------------------------------- Quantity Grades Contained metal Interval ------------------------------------------------------------ Above Copper Gold Silver Zinc Copper Gold Silver Zinc Au g/t (000' t) % g/t g/t % tonnes oz oz tonnes ---------------------------------------------------------------------- ---------------------------------------------------------------------- 0.00 257 0.36 1.27 7.71 0.33 915 10,482 63,767 859 ---------------------------------------------------------------------- 0.25 205 0.41 1.56 9.09 0.39 834 10,273 59,932 807 ---------------------------------------------------------------------- 0.50 170 0.45 1.81 10.22 0.44 760 9,850 55,691 744 ---------------------------------------------------------------------- 0.75 142 0.50 2.04 10.97 0.50 704 9,302 49,937 702 ---------------------------------------------------------------------- 1.00 105 0.63 2.46 12.77 0.62 662 8,265 42,917 646 ---------------------------------------------------------------------- 1.25 82 0.75 2.82 13.97 0.70 617 7,471 36,976 579 ---------------------------------------------------------------------- 1.50 47 0.94 3.90 18.28 0.98 445 5,922 27,781 461 ---------------------------------------------------------------------- 1.75 40 1.02 4.33 20.03 1.12 408 5,538 25,612 446 ---------------------------------------------------------------------- 2.00 37 1.05 4.55 20.87 1.20 385 5,345 24,500 439 ---------------------------------------------------------------------- 2.25 28 0.88 5.29 22.00 1.11 247 4,791 19,938 313 ---------------------------------------------------------------------- 2.50 24 0.87 5.73 23.72 1.24 212 4,491 18,596 301 ---------------------------------------------------------------------- 5.00 17 0.95 6.62 23.05 1.23 160 3,575 12,446 207 ---------------------------------------------------------------------- Sensitivity Table for Inferred Resources ---------------------------------------------------------------------- Quantity Grades Contained metal Interval ------------------------------------------------------------ Above Copper Gold Silver Zinc Copper Gold Silver Zinc Au g/t (000' t) % g/t g/t % tonnes oz oz tonnes ---------------------------------------------------------------------- ---------------------------------------------------------------------- 0.00 293 0.60 1.39 7.62 0.38 1,758 13,078 71,852 1,125 ---------------------------------------------------------------------- 0.25 283 0.62 1.43 7.79 0.39 1,751 13,025 70,994 1,112 ---------------------------------------------------------------------- 0.50 273 0.64 1.47 7.94 0.40 1,743 12,902 69,784 1,106 ---------------------------------------------------------------------- 0.75 252 0.68 1.54 8.12 0.43 1,704 12,465 65,851 1,085 ---------------------------------------------------------------------- 1.00 197 0.71 1.72 8.03 0.51 1,399 10,877 50,862 1,008 ---------------------------------------------------------------------- 1.25 138 0.74 1.97 8.35 0.61 1,022 8,733 37,097 838 ---------------------------------------------------------------------- 1.50 68 0.76 2.60 9.11 0.85 516 5,696 19,998 578 ---------------------------------------------------------------------- 1.75 47 0.59 3.00 9.18 0.80 280 4,555 13,914 377 ---------------------------------------------------------------------- 2.00 42 0.58 3.15 9.04 0.81 244 4,242 12,179 339 ---------------------------------------------------------------------- 2.25 31 0.35 3.51 7.82 0.62 109 3,536 7,881 193 ---------------------------------------------------------------------- 2.50 27 0.36 3.69 8.19 0.62 99 3,218 7,152 168 ---------------------------------------------------------------------- 5.00 3 0.56 5.71 14.99 0.61 20 637 1,671 21 ---------------------------------------------------------------------- /T/ The table below summarizes the copper grade sensitivities for the North and South Zones: /T/ Ming North and South Down Plunge - February 18, 2009 ---------------------------------------------------- Sensitivity Table for Measured Resources ----------------------------------------------------------------------- Quantity Grades Contained metal Interval ------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ----------------------------------------------------------------------- ----------------------------------------------------------------------- 0.00 1,537 0.83 1.31 6.72 0.34 12,768 64,624 332,246 5,168 ----------------------------------------------------------------------- 0.25 1,254 0.99 1.47 7.52 0.38 12,364 59,312 303,133 4,741 ----------------------------------------------------------------------- 0.50 924 1.21 1.71 8.67 0.45 11,154 50,907 257,435 4,164 ----------------------------------------------------------------------- 0.75 645 1.46 1.92 9.44 0.52 9,391 39,798 195,709 3,360 ----------------------------------------------------------------------- 1.00 463 1.68 2.00 10.13 0.58 7,803 29,741 150,906 2,678 ----------------------------------------------------------------------- 1.25 313 1.95 1.98 10.85 0.62 6,115 19,963 109,268 1,941 ----------------------------------------------------------------------- 1.50 216 2.22 1.84 11.48 0.66 4,795 12,733 79,546 1,429 ----------------------------------------------------------------------- 1.75 141 2.52 1.90 11.21 0.46 3,559 8,656 51,003 650 ----------------------------------------------------------------------- 2.00 106 2.74 1.87 10.89 0.36 2,908 6,375 37,184 384 ----------------------------------------------------------------------- 2.25 87 2.87 1.68 10.04 0.31 2,502 4,687 28,079 271 ----------------------------------------------------------------------- 2.50 71 2.99 1.53 9.12 0.25 2,122 3,483 20,804 175 ----------------------------------------------------------------------- 5.00 0.02 5.19 4.48 22.07 1.50 1 3 15 0 ----------------------------------------------------------------------- Sensitivity Table for Indicated Resources ----------------------------------------------------------------------- Quantity Grades Contained metal Interval ------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ----------------------------------------------------------------------- ----------------------------------------------------------------------- 0.00 1,541 1.00 1.92 8.11 0.43 15,417 95,207 401,918 6,649 ----------------------------------------------------------------------- 0.25 1,463 1.05 1.97 8.31 0.44 15,296 92,817 390,806 6,476 ----------------------------------------------------------------------- 0.50 1,172 1.21 2.12 8.82 0.49 14,201 79,840 332,249 5,766 ----------------------------------------------------------------------- 0.75 854 1.43 2.29 9.32 0.53 12,180 62,948 255,806 4,529 ----------------------------------------------------------------------- 1.00 645 1.61 2.41 9.81 0.56 10,353 49,998 203,377 3,623 ----------------------------------------------------------------------- 1.25 457 1.81 2.57 10.55 0.58 8,253 37,825 155,051 2,644 ----------------------------------------------------------------------- 1.50 309 2.01 2.64 10.99 0.61 6,218 26,271 109,261 1,878 ----------------------------------------------------------------------- 1.75 146 2.43 2.21 8.84 0.36 3,541 10,360 41,392 519 ----------------------------------------------------------------------- 2.00 98 2.71 1.78 7.50 0.23 2,640 5,586 23,539 223 ----------------------------------------------------------------------- 2.25 79 2.85 1.50 6.85 0.17 2,245 3,793 17,352 137 ----------------------------------------------------------------------- 2.50 68 2.93 1.32 6.59 0.14 1,978 2,873 14,311 96 ----------------------------------------------------------------------- 5.00 ----------------------------------------------------------------------- Sensitivity Table for Inferred Resources ------------------------------------------------------------------------ Quantity Grades Contained metal Interval -------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ------------------------------------------------------------------------ ------------------------------------------------------------------------ 0.00 1,812 1.49 1.75 8.71 0.53 27,089 101,963 507,459 9,593 ------------------------------------------------------------------------ 0.25 1,787 1.51 1.76 8.75 0.54 27,033 101,312 502,642 9,583 ------------------------------------------------------------------------ 0.50 1,653 1.61 1.83 9.01 0.57 26,541 97,410 478,561 9,344 ------------------------------------------------------------------------ 0.75 1,491 1.71 1.98 9.34 0.59 25,490 94,714 447,553 8,839 ------------------------------------------------------------------------ 1.00 1,336 1.81 2.07 9.48 0.63 24,129 88,928 407,420 8,445 ------------------------------------------------------------------------ 1.25 1,189 1.89 2.19 9.91 0.67 22,483 83,583 378,852 8,020 ------------------------------------------------------------------------ 1.50 1,034 1.97 2.10 10.10 0.75 20,338 69,643 335,759 7,717 ------------------------------------------------------------------------ 1.75 704 2.11 1.81 9.03 0.68 14,870 41,051 204,334 4,806 ------------------------------------------------------------------------ 2.00 396 2.30 1.60 7.10 0.40 9,114 20,327 90,360 1,582 ------------------------------------------------------------------------ 2.25 170 2.55 1.80 6.09 0.24 4,341 9,869 33,312 415 ------------------------------------------------------------------------ 2.50 84 2.75 1.92 5.94 0.17 2,294 5,168 15,939 141 ------------------------------------------------------------------------ 5.00 ------------------------------------------------------------------------ /T/ The table below summarizes the copper grade sensitivities for the up-plunge of the South Zone: /T/ Ming South Up Plunge - February 18, 2009 ---------------------------------------- Sensitivity Table for Measured Resources ------------------------------------------------------------------------ Quantity Grades Contained metal Interval -------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ------------------------------------------------------------------------ ------------------------------------------------------------------------ 0.00 157 2.25 0.83 5.71 0.25 3,533 4,188 28,856 398 ------------------------------------------------------------------------ 0.25 132 2.64 0.93 6.25 0.28 3,502 3,965 26,612 366 ------------------------------------------------------------------------ 0.50 124 2.80 0.98 6.50 0.29 3,470 3,897 25,885 357 ------------------------------------------------------------------------ 0.75 108 3.12 1.07 6.94 0.31 3,367 3,720 24,067 336 ------------------------------------------------------------------------ 1.00 94 3.46 1.16 7.36 0.33 3,241 3,485 22,144 308 ------------------------------------------------------------------------ 1.25 81 3.81 1.24 7.78 0.35 3,106 3,260 20,372 284 ------------------------------------------------------------------------ 1.50 74 4.04 1.30 8.03 0.36 3,011 3,102 19,220 267 ------------------------------------------------------------------------ 1.75 70 4.20 1.34 8.27 0.37 2,938 3,014 18,597 257 ------------------------------------------------------------------------ 2.00 66 4.34 1.38 8.49 0.38 2,866 2,934 18,037 248 ------------------------------------------------------------------------ 2.25 63 4.45 1.41 8.67 0.38 2,798 2,859 17,521 241 ------------------------------------------------------------------------ 2.50 59 4.57 1.45 8.90 0.39 2,713 2,775 16,973 234 ------------------------------------------------------------------------ 5.00 19 6.53 1.96 12.94 0.75 1,221 1,177 7,782 140 ------------------------------------------------------------------------ Sensitivity Table for Indicated Resources ------------------------------------------------------------------------ Quantity Grades Contained metal Interval -------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ------------------------------------------------------------------------ ------------------------------------------------------------------------ 0.00 61 1.94 0.89 7.11 0.23 1,187 1,750 14,009 138 ------------------------------------------------------------------------ 0.25 54 2.18 0.96 7.73 0.24 1,178 1,674 13,422 131 ------------------------------------------------------------------------ 0.50 49 2.35 1.00 7.98 0.25 1,161 1,594 12,668 122 ------------------------------------------------------------------------ 0.75 45 2.51 1.02 8.14 0.25 1,134 1,486 11,828 111 ------------------------------------------------------------------------ 1.00 41 2.69 1.04 8.28 0.24 1,094 1,354 10,813 97 ------------------------------------------------------------------------ 1.25 33 3.03 1.09 8.82 0.24 1,014 1,172 9,483 80 ------------------------------------------------------------------------ 1.50 30 3.21 1.08 8.80 0.23 971 1,055 8,561 70 ------------------------------------------------------------------------ 1.75 27 3.38 1.07 8.57 0.22 924 937 7,542 61 ------------------------------------------------------------------------ 2.00 23 3.63 1.00 7.77 0.21 849 754 5,838 49 ------------------------------------------------------------------------ 2.25 22 3.74 1.02 7.89 0.21 816 718 5,531 46 ------------------------------------------------------------------------ 2.50 21 3.83 1.04 7.96 0.21 786 684 5,253 44 ------------------------------------------------------------------------ 5.00 2 5.55 1.14 10.49 0.21 128 84 775 5 ------------------------------------------------------------------------ Sensitivity Table for Inferred Resources ------------------------------------------------------------------------ Quantity Grades Contained metal Interval -------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ------------------------------------------------------------------------ ------------------------------------------------------------------------ 0.00 10 0.81 0.76 4.34 0.26 81 248 1,411 26 ------------------------------------------------------------------------ 0.25 9 0.85 0.81 4.64 0.28 80 245 1,404 26 ------------------------------------------------------------------------ 0.50 7 1.02 0.97 5.72 0.35 71 216 1,280 25 ------------------------------------------------------------------------ 0.75 4 1.25 1.31 8.23 0.47 55 186 1,171 21 ------------------------------------------------------------------------ 1.00 3 1.36 1.45 9.21 0.52 46 159 1,009 18 ------------------------------------------------------------------------ 1.25 2 1.57 1.55 11.19 0.56 29 92 665 10 ------------------------------------------------------------------------ 1.50 1 1.90 1.55 11.22 0.51 14 37 268 4 ------------------------------------------------------------------------ 1.75 0 2.09 1.38 11.98 0.35 9 20 171 2 ------------------------------------------------------------------------ 2.00 0 2.25 0.99 7.49 0.33 6 8 62 1 ------------------------------------------------------------------------ 2.25 0 2.40 0.99 7.49 0.33 3 4 30 0 ------------------------------------------------------------------------ 2.50 0 2.59 0.72 4.40 0.22 1 1 4 0 ------------------------------------------------------------------------ 5.00 ------------------------------------------------------------------------ /T/ Upper Footwall Zone (UFZ) The Upper Footwall Zone was first discovered by Rambler Metals in 2006 where RM06-04f intersected 6.00 meters of 14.55% copper with 1.6 g/t gold. Although no new diamond drilling was drilled in this zone since the last resource estimate, the additional underground diamond drilling in the Lower Footwall has allowed SRK to better define the variography and search ellipses for all stringer type mineralization. For the Upper Footwall Zone only an indicated resource was estimated, the table below summarizes the copper grade sensitivities for this zone: /T/ Upper Footwall Zone - February 18, 2009 --------------------------------------- Sensitivity Table for Indicated Resources ------------------------------------------------------------------------ Quantity Grades Contained metal Interval -------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ------------------------------------------------------------------------ ------------------------------------------------------------------------ 0.00 475 2.31 0.18 2.29 0.05 10,990 2,804 34,973 215 ------------------------------------------------------------------------ 0.25 475 2.31 0.18 2.29 0.05 10,990 2,804 34,973 215 ------------------------------------------------------------------------ 0.50 474 2.32 0.18 2.29 0.05 10,988 2,803 34,968 215 ------------------------------------------------------------------------ 0.75 464 2.35 0.19 2.33 0.05 10,919 2,788 34,722 212 ------------------------------------------------------------------------ 1.00 402 2.58 0.21 2.54 0.05 10,382 2,683 32,795 188 ------------------------------------------------------------------------ 1.25 365 2.73 0.22 2.67 0.05 9,963 2,601 31,316 173 ------------------------------------------------------------------------ 1.50 325 2.90 0.24 2.81 0.05 9,423 2,502 29,435 155 ------------------------------------------------------------------------ 1.75 268 3.16 0.27 3.08 0.05 8,489 2,339 26,568 133 ------------------------------------------------------------------------ 2.00 215 3.48 0.31 3.41 0.05 7,498 2,170 23,638 114 ------------------------------------------------------------------------ 2.25 174 3.81 0.36 3.76 0.06 6,611 2,008 21,014 99 ------------------------------------------------------------------------ 2.50 145 4.09 0.40 4.08 0.06 5,920 1,874 18,967 87 ------------------------------------------------------------------------ 5.00 32 6.49 0.79 6.65 0.08 2,074 807 6,832 27 ------------------------------------------------------------------------ Sensitivity Table for Inferred Resources ------------------------------------------------------------------------ Quantity Grades Contained metal Interval -------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes ------------------------------------------------------------------------ ------------------------------------------------------------------------ 0.00 11 0.85 0.05 1.02 0.00 97 19 373 0 ------------------------------------------------------------------------ 0.25 11 0.85 0.05 1.02 0.00 97 19 373 0 ------------------------------------------------------------------------ 0.50 11 0.85 0.05 1.02 0.00 97 19 373 0 ------------------------------------------------------------------------ 0.75 11 0.85 0.05 1.02 0.00 97 19 372 0 ------------------------------------------------------------------------ 1.00 0.02 1.06 0.05 0.98 0.00 0 0 1 0 ------------------------------------------------------------------------ 1.25 ------------------------------------------------------------------------ 1.50 ------------------------------------------------------------------------ 1.75 ------------------------------------------------------------------------ 2.00 ------------------------------------------------------------------------ 2.25 ------------------------------------------------------------------------ 2.50 ------------------------------------------------------------------------ 5.00 ------------------------------------------------------------------------ /T/ Lower Footwall Zone (LFZ) The Lower Footwall Zone has long been a target for a bulk tonnage mining method. Although with the current weak commodity prices the lower footwall zone does not form part of the initial 5 year start-up plan, this zone has the potential to add significant tonnes of copper when copper prices exceed US$2.00/lb. The new underground diamond drilling has allowed for better interpretation of the cross cutting mafic intrusives which in turn has impacted the overall quantity of ore tonnes. For the Lower Footwall Zone an indicated and inferred resource was estimated, the table below summarizes the copper grade sensitivities for this zone: /T/ Lower Footwall Zone - February 18, 2009 --------------------------------------- Sensitivity Table for Indicated Resources --------------------------------------------------------------------------- Quantity Grades Contained metal Interval ----------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes --------------------------------------------------------------------------- --------------------------------------------------------------------------- 0.00 85,089 0.55 0.05 0.60 0.01 471,196 144,501 1,650,958 9,421 --------------------------------------------------------------------------- 0.25 56,792 0.79 0.07 0.83 0.01 446,518 124,630 1,523,203 7,966 --------------------------------------------------------------------------- 0.50 39,139 0.97 0.08 1.00 0.02 380,682 98,029 1,257,128 5,895 --------------------------------------------------------------------------- 0.75 24,497 1.18 0.09 1.19 0.02 290,226 69,111 933,697 3,780 --------------------------------------------------------------------------- 1.00 14,310 1.41 0.10 1.39 0.02 201,940 44,627 641,227 2,214 --------------------------------------------------------------------------- 1.25 7,853 1.66 0.11 1.62 0.02 130,008 26,771 410,087 1,208 --------------------------------------------------------------------------- 1.50 4,379 1.89 0.11 1.84 0.02 82,667 15,996 259,064 684 --------------------------------------------------------------------------- 1.75 2,402 2.11 0.12 2.04 0.02 50,784 9,177 157,250 380 --------------------------------------------------------------------------- 2.00 1,262 2.34 0.13 2.25 0.02 29,570 5,310 91,523 202 --------------------------------------------------------------------------- 2.25 630 2.57 0.15 2.50 0.02 16,204 2,985 50,643 101 --------------------------------------------------------------------------- 2.50 290 2.83 0.17 2.78 0.02 8,219 1,541 25,957 49 --------------------------------------------------------------------------- 5.00 --------------------------------------------------------------------------- Sensitivity Table for Inferred Resources --------------------------------------------------------------------------- Quantity Grades Contained metal Interval ----------------------------------------------------------------- Above Copper Gold Silver Zinc Copper Gold Silver Zinc Cu % (000' t) % g/t g/t % tonnes oz oz tonnes --------------------------------------------------------------------------- --------------------------------------------------------------------------- 0.00 2,727 0.27 0.05 0.34 0.01 7,372 4,666 29,495 208 --------------------------------------------------------------------------- 0.25 1,120 0.55 0.08 0.65 0.01 6,115 2,898 23,311 121 --------------------------------------------------------------------------- 0.50 505 0.78 0.10 0.92 0.01 3,928 1,615 14,936 66 --------------------------------------------------------------------------- 0.75 233 0.96 0.10 1.11 0.01 2,241 769 8,285 31 --------------------------------------------------------------------------- 1.00 73 1.19 0.11 1.26 0.01 874 262 2,976 10 --------------------------------------------------------------------------- 1.25 22 1.43 0.12 1.42 0.01 310 84 987 3 --------------------------------------------------------------------------- 1.50 7 1.62 0.15 1.68 0.01 108 33 361 1 --------------------------------------------------------------------------- 1.75 0 1.81 0.18 1.97 0.02 4 1 15 0 --------------------------------------------------------------------------- 2.00 --------------------------------------------------------------------------- 2.25 --------------------------------------------------------------------------- 2.50 --------------------------------------------------------------------------- 5.00 --------------------------------------------------------------------------- /T/ Rambler Qualification and Methodology of Resource Estimation Resource classification Mineral resources for the Ming Mine have been classified according to the "CIM Standards on Mineral Resources and Reserves: Definitions and Guidelines" (December, 2005) by Larry Pilgrim, P.Geo, an appropriate Qualified Person as defined by NI43-101. Since this resource update did not have a 100% or greater change to the original resource there was no requirement for an Independent technical report or evaluation. A complete NI43-101 Technical Report will incorporate the resource estimation and methodology will be filed on SEDAR within 45 days after this press release. The resource estimation is based on a 3-D geological interpretation of the mineralized zones from 85,416 meters of RMM surface drilling (2003-2008) in 86 drill holes and 22,263 meters of RMM underground drilling (2007-2009) in 167 drill holes. The geological interpretation and modeling defined six separate but intimately related ore zones namely; the 1807 zone, the 1806 zone the Main Zone (includes North and South Ming), the Upper Footwall Zone and the Lower Footwall Zone. Density factors used to determine tonnages were 3.52 gcm3 for the 1807 Zone, 3.03 gcm3 for the 1806 Zone, 3.44 gcm3 for the Ming North and South Down Plunge, 3.35 gcm3 for the Ming South Up Plunge, 3.07 gcm3 for the semi- massive stringer Upper Footwall and 2.83 gcm3 for the stringer style Lower Footwall Zone. The modeled resources at Rambler were created using Datamine 3D modeling software with 5 x 5 x 5 m blocks. A sub-block routine was also applied with a minimum block size of 1.25 x 1.25 x 1.25 m. Grade estimation was conducted on data composited to 1m intervals, confined within the modeled mineralized zones. Appropriate grade cappings were applied to the composited data. Block grades were estimated using inverse distance squared (ID2) grade estimation methodologies. Normalized and regular variography used estimate search distance criteria was developed by SRK Consulting Engineers and Scientists with Isatis software for Cu, Au, Ag and Zn. A single spherical structure variogram (including a nugget effect) was constructed and fitted for each primary direction for all metals and input into the Datamine grade process. A complete copy of this report will be included with the NI 43-101 Technical Report. The classified resources for the various modeled mineralized zones at the Ming Mine have been tabulated for a range of copper cut-offs. The cut off applied to the massive ore is 1.00% copper, whereas the cut-off applied to the upper footwall zone 1.25% copper and the lower footwall zone is 2.00% copper. Metal prices of US$1.92/lb copper, US$800/oz gold and US$10/oz silver were applied. Zinc is reported but does not contribute to revenues. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Rambler Metals and Mining Canada Limited George Ogilvie, P.Eng. President and CEO (709) 532-4990 OR Rambler Metals & Mining Plc Leslie Little Company Secretary +44 (0) 20-7661-8104 Website: www.ramblermines.com OR Seymour Pierce Limited Nandita Sahgal +44 (0) 20-7107 8000 OR Pelham Public Relations Chelsea Hayes/Klara Kaczmarek +44 (0) 20-7743-6675/20-3159-4395 Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. -0- Rambler Metals & Mining Plc

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