Operations Update

4 January 2022

Operations Update 

London, England & Newfoundland and Labrador, Canada - Rambler Metals and Mining plc (AIM: RMM) ("Rambler" or "the Company"), a copper and gold producer, explorer and developer announces an impact to mining due to a shortage of operators at its Ming Copper-Gold Mine, located in Eastern Canada.

There has been a substantial rise in Covid-19 in Newfoundland, as there has been around the world. The province has implemented some of the strongest protocols for protection against Covid-19 and Rambler has adopted further measures over and above these. This includes a Company policy of mandatory full vaccination against Covid-19 for all persons coming to the mine site.

As a precaution against the transmission of Covid-19, since 31 December 2021, a number of critical operators have been in isolation and unable to attend the mine site due to a positive PCR test result received prior to reaching the mine site. It is emphasised that to date, no cases of Covid-19 have been recorded for any employees or contractors that have attended the mine site.

In this instance, it is fly-in contract operators that are in isolation which is anticipated to be for up to 14 days. At this stage none of the Rambler employees are affected but this could change given the volatile Covid situation.

The shortage of contract operators, who are focused on mine development, means that the mine cannot develop at target rates until the isolation period is over or replacement contractors arrive. Therefore, the time required to develop sufficiently to sustain the Company's production target of 1,350 tonnes ore per day will be impacted and accordingly, production guidance is now expected to be delayed further into Q1 2022 than previously announced on 21 December 2021.

The Company will take guidance from the provincial health authorities in terms of when and how isolating individuals can be brought back into the workforce.

The Company is looking at arrangements to mitigate the financial impacts and will report to the market in due course.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside is now considered to be in the public domain.

ABOUT RAMBLER METALS AND MINING

Rambler is a mining and development Company that in November 2012 brought its first mine into commercial production. The group has a 100 per cent ownership in the Ming Copper-Gold Mine, a fully operational base and precious metals processing facility and year-round bulk storage and shipping facility; all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.

Rambler's focus is to regain its production profile at 1,350 metric tonnes per day at 2% Cu and evaluate expansion opportunities from that base.

Along with the Ming Mine, Rambler also owns 100 per cent of the former producing Little Deer and Whales Back copper mines.

Rambler is listed in London under AIM:RMM.

For further information, please contact:

Website: www.ramblermines.com