Mr. Peter Mercer reports

RAMBLER METALS AND MINING PRODUCES OVER 5,000 OUNCES OF GOLD AND INTERSECTS 278 G/T GOLD OVER 2.60 M IN EXPLORATION DRILLING

Rambler Metals and Mining PLC has provided a project update for the 100-per-cent-owned Ming copper-gold mine.

Highlights

Gold

• Fiscal second quarter gold production of 4,022 ounces (as at Jan. 31, 2012);
• Total of over 5,000 ounces of gold has been poured to date at the Ming mine;
• Exploration diamond drilling in the 1806 zone returned new visible gold intersection of 2.6 metres (core length) of 8.1 ounces/ton gold (278 grams per tonne gold uncut) .

Copper

• Continued development of the high-grade copper 1807 zone with live ore commissioning for the concentrator scheduled for the fiscal third quarter of 2012;
• Development face sampling in the 1807 zone returned grades of 4.48 per cent copper, 0.83 g/t gold and 8.88 g/t silver over 3.40 metres.

Peter Mercer, vice-president corporate development, commented:

"We are pleased with the continuous improvements at the Ming mine, both underground and at the milling facility. We are also encouraged by the discovery of new visible gold near our current stoping levels; however, our focus remains on optimizing our processes to ensure that we maximize the potential of the underexplored areas of the Ming mine.

"We look to continue to develop and increase our revenue stream to ensure that the company continues to grow over the near term."

Gold production

The operations team continues to optimize gold production from the Ming mine. The average daily throughput for January was 600 million tonnes per day with the highest one day throughput being 695 million tpd. This production rate confirms the projected tonnage rate determined by the company's feasibility study, noting that the reported recovery of gold through the plant is nearing 92 per cent.

Since the start of gold production in November, 2011, Rambler has poured 3,563 ounces for the quarter ending Jan. 31, 2012. The higher than projected refined ounces is a result of slightly higher head grades than the estimated 1806 reserve grade. The table attached summarizes the company's gold production to date including preliminary results for the beginning of fiscal third quarter for 2012.

                           GOLD PRODUCTION SUMMARY TO DATE

                     Fiscal Q2                          Fiscal Q3              
                                                  MTD                       
                 Nov.    Dec.    Jan.    Q2       Feb.    Mar.  Apr.        
                 2011    2011    2012   Total    2012     2012  2012    Total 
                                                                            
                       
Mined (tonnes)  5,160  13,829  19,933  38,922  12,441       -      -   51,363                        
Milling days        3      29      30      62      20       -      -       83                       
Milled                                                                     
(tonnes)        1,538  16,126  17,995  35,659  11,357       -      -   47,016                       
Mill head                                                                   
Grade gold                                                                 
(g/t)            3.53    3.72    4.40    4.00    4.48       -      -     4.13                        
Recovery          87%     88%     90%    89%      91%      -      -       90%                       
Gold produced                                                                 
(ounces)          147   1,650   2,225   4,022   1,417       -      -    5,439
Gold poured                                                                 
(ounces)            -     423   3,140   3,563   1,462       -      -    5,025                        
Mill                                                                        
utilization      100%     93%     95%    96%     100%      -      -       97%                   

The mills performance during the early processing of the 1806 has exceeded expectations and the exploration diamond drilling program has been particularly exciting, including the discovery of new visible gold intersections down plunge of the 1806 zone. In the past, the company has reported visible gold deeper in the mine, in and around the historic 1,700-foot level (see press release dated May 10, 2011), but these types of grades have never been reported this high in elevation or adjacent to the company's current stoping blocks on the 100 level.

The diamond drilling results in the table attached indicate the discovery potential for additional high-grade gold mineralization at the Ming mine. While the drilling was originally part of an exploration program, having the intersection located just 30 metres from existing underground infrastructure the company plans to develop across the zone to better understand the controlling structures hosting the gold mineralization. This development can then be utilized as ore access for future production.

Down plunge of the discovery has not been adequately tested for several hundred metres and will be incorporated into the company's exploration program.

        EXPLORATION DIAMOND DRILL PROGRAM OF THE 1806 ZONE
 
                                      From        To       Length        Au
Drill hole                             (m)        (m)        (m)        (g/t)
 
MMUG12-32                             46.60      55.10       8.50       4.10 
Including                             50.40      55.10       4.70       5.04 
MMUG12-34 (cut)                       13.40      43.20      27.80       4.70 
Including (cut)                       25.60      43.20      17.60       6.96 
Including (cut)                       38.10      43.20       5.10      21.19 
Including (uncut)                     40.60      43.20       2.60     277.84 
MMUG12-36                             29.30      45.60      16.30       4.25 
Including                             40.50      45.60       5.10       6.20 
MMUG12-38                             25.60      32.60       6.60       4.62 
MMUG12-40 (uncut)                     11.60      49.40      24.80       5.94 
Including (cut)                       45.30      49.40       4.10      11.33 
Including (uncut)                     45.30      49.40       4.10      33.33
 
Note: Gold intersections above 40 g/t shown as cut and uncut. Duplicate     
samples taken on all cut assays.                                            
All quoted intersections are core lengths; true widths are estimated to be  
50 to 75 per cent of core length.                      

Copper production

Development into the high-grade copper 1807 zone is continuing and the company anticipates commencing copper production during the fiscal third quarter of 2012. Geological mapping and sampling of the 1807 zone development have given the company an opportunity to better understand the geometry and structural controls which define the shape of the ore zones. To date, the results are encouraging in that they are consistent with previous interpretation and grades.

The intersection of high-grade massive sulphides while developing the 1600-level bypass ramp, is an additional encouragement to the company. Development chip samples from this zone returned 3.73 per cent Cu, 2.11 g/t Au, 30.78 g/t Ag and 0.78 per cent Zn over a thickness of 1.6 metres. This new zone will be drill tested both up plunge and down plunge to determine the extent of the mineralization. The table attached summarizes a few of the composited development samples collected to date. This is a continuing program for which the company will provide further updates over the course of the year.

                                 DEVELOPMENT SAMPLING

                          Length         Cu         Au         Ag         Zn
Heading                      (m)        (%)      (g/t)      (g/t)        (%)
 
1600 -- bypass              2.60       1.86       1.86      20.67       0.60 
Including                   1.60       3.73       2.11      30.78       0.78 
1807 -- 346 lv              3.40       4.48       0.83       8.88       0.07 
Including                   1.00       8.55       1.57      14.70       0.17

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.

All tonnes reported are dry metric tonnes unless otherwise indicated.

We seek Safe Harbor.