Mr. George Ogilvie reports

RAMBLER INITIATES THE FIRST C$5 MILLION DRAWDOWN FROM SPROTT RESOURCE LENDING PARTNERSHIP

Rambler Metals and Mining PLC's operating subsidiary Rambler Metals and Mining Canada Ltd., as borrower, has initiated the first drawdown of $5-million from Sprott Resource Lending Partnership. The drawdown is part of the $10-million secured credit facility announced on Sept. 30, 2011.

In connection with the terms of the credit facility, a 4-per-cent drawdown fee on all amounts drawn under the credit facility is to be satisfied by the issue of ordinary shares by the company. A total of 481,001 ordinary shares have been conditionally allotted to Sprott at 41.58 cents per share, being the 10-day weighted average closing price of the ordinary shares on the TSX Venture Exchange on Oct. 27, 2011, the day prior to the first drawdown of the credit facility. All ordinary shares issued in satisfaction of the drawdown fees will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

The application to list the drawdown fee shares have been accepted by the TSX Venture Exchange and application has been made to the London Stock Exchange for the drawdown fee shares to be admitted to trading on AIM. Admission is expected to become effective on Nov. 3, 2011. Following admission the company will have 124,461,006 ordinary shares in issue.

The above figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Rambler under the disclosure and transparency rules of the U.K. listing authority.

We seek Safe Harbor.