An anonymous director reports

RAMBLER METALS & MINING PLC: EXERCISE OF WARRANTS AND ISSUE OF EQUITY

Pursuant to Rambler Metals and Mining PLC's subscription agreement dated April 20, 2016, entered into with CE Mining II Rambler Ltd. (formerly named CE Mining II Roma Ltd.), CE Mining II has elected to convert 135 million warrants issued under the subscription agreement into ordinary shares of one penny each in the company. Notice of exercise of the warrants was received by Rambler on Feb. 6, 2017.

Under the terms of the transaction announced on April 21, 2016, CE Mining II may exercise the warrants on payment of a subscription price equal to five pence per new ordinary share. Accordingly, 135 million new ordinary shares are to be issued to CE Mining II for an aggregate exercise price of 6.75 million pounds sterling (approximately $8,407,125 (U.S.)).

The proceeds received following the exercise of the warrants will be used by the company to support its continuing phase II expansion plan and further evaluate the potential for a phase III expansion at 2,000 metric tonnes per day, including ore preconcentration and shaft rehabilitation. In addition, the proceeds will finance a wide stepout surface diamond drilling program to test the downdip continuation of the mineralized zones of the Ming mine. Once completed, this exploration program will provide an early indication of the ultimate size of the deposit and its depth extents. To the knowledge of the company, immediately prior to the conversion of the 135 million warrants, CE Mining II owned and controlled 261,363,636 ordinary shares (representing a 63.1-per-cent interest in the company) and 200 million warrants, and, immediately following conversion of the 135 million warrants, CE Mining II will own and control 396,363,636 ordinary shares (representing a 72.2-per-cent interest in the company) and 65 million remaining warrants.

Pursuant to the subscription agreement, D&D Securities Inc., as broker, will receive a cash commission equal to 1 per cent of the aggregate exercise price of the warrants.