Mr. George Ogilvie reports

RAMBLER SIGNS COMMERCIAL OFF-TAKE AGREEMENT WITH TRANSAMINE FOR THE SALE OF COPPER CONCENTRATES FROM THE MING MINE

Rambler Metals and Mining PLC has signed an off-take agreement for its copper concentrate production from the Ming mine with Transamine Trading. This is the company's first off-take agreement and ensures that all of Rambler's copper concentrate will be sold at international market rates.

With construction of the new concentrator now complete it is timely to have finalized this agreement with Transamine, a well-known international trading company. The agreement will see the sale of 85,000 tonnes of copper concentrate from the Ming mine to Transamine over an initial six-year period and includes a provisional payment for concentrate as it arrives at the Goodyear's Cove port facility. This is of particular importance to Rambler as it will ensure steady cash flow to the company as soon as concentrate production begins in second quarter 2012.

George Ogilvie, president and chief executive officer, commented:

"We are pleased to have entered into an off-take agreement with Transamine for the sale of 85,000 tonnes of concentrate over the initial six-year mine life at international spot rates. Importantly the off-take offers competitive terms including provisional payments for concentrate whilst in storage awaiting shipment. In the coming months, once concentrate production begins, the first ore to be mined will be from the high-grade 1807 zone. With a measured and indicated resource of 432,000 tonnes grading 3.86 per cent copper, 1.75 grams per tonne gold and 7.18 g/t silver concentrate produced from this zone will greatly assist Rambler's immediate cash flow.

"As Rambler looks to expand as a company, both organically and externally, we look forward to further building on our relationship with Transamine."

Transamine Trading is a well-known international trading company based in Geneva, Switzerland, that has particular expertise in the trading of base metal ores and concentrates. It is a full-service company providing worldwide raw material sourcing, marketing, finance and investment. Founded in 1953 it has dedicated the last six decades to its core business of trading non-ferrous base metal ores and concentrates as well as tin, cobalt, nickel, precious metals, related byproducts and residues.

The initial six years of the Ming mine project is based on the underground mining of massive sulphides with a minable reserve estimate of 1,498,000 ore tonnes grading 1.62 per cent copper, 2.40 g/t gold and 10.90 g/t silver (24,252 tonnes of copper, 115,549 ounces of gold and 525,139 ounces of silver of contained metal). All massive sulphide zones remain open both up and down plunge with the current exploration program focused on extending the known mineralization for inclusion in the resource/reserve estimate. In addition a sizable footwall deposit, beneath the massive sulphide horizon, has been outlined with a resource grade of 9.85 million tonnes grading 1.70 per cent copper (167,355 tonnes of contained copper). As the company advances the Ming mine project into cash-positive position expansion into these underexplored, mineralized areas will be formalized with the goal of maximizing returns for shareholders and increasing the life of mine.

Larry Pilgrim, PGeo, 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.

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