Mr. George Ogilvie reports

RAMBLER METALS AND MINING PLC: FINANCIAL RESULTS YEAR ENDED 31 JULY 2011

Rambler Metals and Mining PLC is providing its financial results and operational highlights for the year ended July 31, 2011. The company is focused on bringing the Ming copper-gold mine located in Newfoundland and Labrador's Baie Verte peninsula, Canada, into full production.

Operational highlights:

• The company produced 1,399 ounces of gold from the mining of its satellite deposits at the Nugget Pond Crown pillar and the Tilt Cove East mine dump.
• The company released a final feasibility study moving the Ming mine from pure exploration and evaluation into the mine development stage. Following the receipt of construction and final permits from the government of Newfoundland and Labrador during the year, the group drew down the remaining $15-million (U.S.) available under the gold loan.
• Significant progress was made on all construction works throughout the year including the group's floatation circuit addition at the Nugget Pond mill and the site works at the Ming mine, enabling first commissioning plans for calendar fourth-quarter 2011.

Financial highlights:

• The group generated its first revenue of $2.1-million in gold sales from its satellite deposits and additional revenue of $1.4-million from various toll processing agreements.
• The consolidated loss after taxation of the group in respect of the year ended July 31, 2011, amounted to $53,000 (a loss per share of 0.1 cent) against a loss of $2,426,000 for the year ended July 31, 2010 (a loss per share of 2.9 cents).
• The net assets of the group amounted to $96.5-million as at the end of the year. This included mineral properties of $38.5-million and intangible assets of $16.6-million, which consisted of accumulated deferred exploration and evaluation expenditures on the Lower Footwall zone at the Ming mine in Newfoundland and Labrador.
• The company raised $14.8-million after expenses through the placement of 27,777,778 ordinary shares, providing additional working capital as the group continued with the construction phase required to bring the mine into production.
• At Oct. 14, 2011, the company had $4.0-million in cash and cash equivalents.

George Ogilvie, president and chief executive officer, Rambler Metals and Mining, commented:

"Strengthened by the operation of the Nugget Pond mill and the near-term production at the Ming copper-gold mine, the company is well positioned operationally and financially to be the leading copper and gold producer in Baie Verte. As more upside is realized by the much anticipated opening of the Ming mine, the company will look to grow the company organically from within as well as exploring external business opportunities to become the leading mine operator and resource developer in Atlantic Canada.

"With the strong balance sheet, the company is able to fund future developments, establish additional regional relationships and accelerate the production ramp-up at the Ming mine."

                            FINANCIAL HIGHLIGHTS
        (in thousands of dollars except shares and per-share figures)

                                                        Year ended July 31,
                                                 2011       2010       2009

Gold sales (ounces)                             1,399          -          -
Average price (per ounce)                       1,492          -          -
Revenue                                         3,523          -          -
Operating (expenses)                           (1,754)         -          -
Exploration (expenditure)                         (79)       (91)         -
Administrative (expenses)                      (2,750)    (2,172)    (2,076)
Net income (loss)                                 (53)    (2,426)    (2,048)
Cash flow (used in) operating activities       (1,352)    (2,107)    (1,670)
Cash flow (used in) investing activities      (25,092)    (9,705)    (6,419)
Cash flow from (used in) financing
activities                                     28,623     17,725       (124)
Net increase (decrease) in cash                 2,179      5,913     (8,213)
Cash and cash equivalents at end of period     10,170      8,000      2,089
Total assets                                   96,473     54,162     37,731
Total (liabilities)                           (34,495)    (7,338)    (1,554)
Working capital                                 7,804      8,462      1,494
(Loss) per share                               (0.001)    (0.029)    (0.034)

We seek Safe Harbor.