19 December 2011
FIRST QUARTER RESULTS 2012 & OPERATIONAL HIGHLIGHTS
London, England & Baie Verte, Newfoundland and Labrador - Rambler Metals and Mining PLC (TSXV: RAB, AIM: RMM) ("Rambler" or the "Company") today is pleased to report its financial results and operational highlights for the three months ended October 31, 2011.

The quarter saw a transition from construction and development to production with the first gold dor� poured post-reporting period at the Companys 100% owned Ming Copper-Gold Mine in Newfoundland and Labradors Baie Verte Peninsula, Canada.


Operational Achievements
o Post quarter: the first gold pour completed, marking the Companys move into production.
o 621 ounces of gold processed from the Tilt Cove East Mine satellite deposit during the quarter generating revenue of $1,095,000.
o Pre-production development to the various Ming Mine ore bodies continuing, particularly in the near surface 1806 zone.
� Development completed and planned to date has allowed access to 78,599 tonnes of material grading 4.10 g/t Au (10,360 Au oz contained) and 34.50 g/t Ag (87,182 Ag oz contained).
o Initial phase of commissioning of the copper concentrator began on October 17, 2011, with "live" commissioning planned for calendar Q1 2012.

This first phase includes the pressurizing of pipelines and hydrostatic testing of tanks to ensure they are functioning properly.
o Continued to work towards finalizing the long term off-take agreement with a well-known international trading company for the sale/purchase of the full production from the Ming Mine ore body and the current capacity of the Nugget Pond facility.
o Completed a 9,500 wet metric tonne concentrate storage facility at the Goodyears Cove Port, with only building services and hook up remaining.

The first shipment of copper concentrate will be in calendar Q2 2012 leaving this project well ahead of both schedule and budget.
o Drew down its first installment of CAD$5.0 million from the $10.0 million credit facility agreed to during the quarter, with the final tranche of $5.0 million now available at the Groups discretion upon the delivery of the executed off-take agreement.
o Initiated a NI43-101 preliminary economic assessment to evaluate the profitability of mining the Lower Footwall Zone ("LFZ").

This study will assess the Ming Mines transition from the current high grade low tonnage start-up operation into a bulk tonnage mining scenario utilizing all available resources from the LFZ.
Financial Highlights (All expressed in CAD$)
o Quarterly gross profit of $545,000 from the sale of 621 ounces of gold from its Tilt Cove East Mine satellite deposit and 74 ounces of gold from the further refining of Nugget Pond Crown Pillar slag materials (Q1/11: $374,000).


o The net loss for the quarter ended October 31, 2011 was $845,000 including an exchange loss of $721,000 or $0.007 per share which compares to a net profit of $577,000 for Q4/11 and a net loss of $268,000 for Q1/11.
o Cash flows generated from operating activities were $1,284,000 in Q1/12 (Q4/11: $573,000) and cash flows utilized of $366,000 in Q1/11.

The increase in the cash generated is due to changes in working capital.


o Cash resources (including short-term investments) as at October 31, 2011 were $8.2 million and as of December 19, 2011 had decreased to $3.2 million.

A further $5.0 million is available under the Groups Credit Facility Agreement with Sprott Resource Lending Partnership upon delivery of an executed off-take agreement
George Ogilvie, President and CEO, Rambler Metals & Mining commented:
"This has been a transformational quarter for Rambler.

Following the end of the quarter the Company has made the first gold pour a reality on 12 December 2011.

We owe this success to the dedication of each employee, their hard work and their commitment to rehabilitating this once profitable mine.
Rambler is now in a strong position to continue the momentum achieved in this quarter in order to increase gold and copper production.

We look forward to continued successes as ore is moved initially from the high-grade zones and then increasingly from the LFZ in creating additional value as a bulk tonnage operation."
Philippe Polman Account Manager Direct line: +44(0)20 7861 3921 Mobile: +44 (0)7841 672 830 Pelham Bell Pottinger 5th Floor, Holborn Gate, 330 High Holborn, London, WC1V 7QD Tel: +44 (0)20 7861 3232 Fax: +44 (0)20 7861 3233 www.pelhambellpottinger.co.uk
....................................... A CarbonNeutral� company
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