Mr. George Ogilvie reports

RAMBLER BUYS OUT 2% NET SMELTER ROYALTY ON THE MING MINE

Rambler Metals and Mining PLC has purchased the Ming mine's 2-per-cent net smelter royalty held by Philippine Metals Inc., formerly New Meridian Mining Corp., for $600,000. Before the buyout the mine had a 4.5-per-cent combined net smelter royalty held by four separate groups (see RMM press release April 7, 2010). Of the four net smelter royalties two included a buyout clause allowing Rambler to purchase 3 per cent of the total net smelter royalty for a total consideration of $1.1-million. Of greatest value to Rambler and the first to be purchased is Philippine Metals Inc.'s 2-per-cent net smelter royalty for $600,000.

Arrangements are also being made to buy out the remaining 1-per-cent net smelter royalty. Upon removal of the combined 3-per-cent NSR, the Ming mine will have a remaining 1.5-per-cent net smelter royalty. This is in addition to the gold only royalty held by Sandstorm Gold taken on as part of the project's financing.

Norman Williams, chief financial officer, commented: "As Rambler sees first revenues from production it is now fiscally prudent that we buyout any royalty encumbrances held over the property. While we will see some interest payments by drawing down an additional $2.5-million from the Sprott credit facility, the total interest payable per month will be far less than the payments made under this 2-per-cent net smelter royalty."

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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