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Rambler's Strategic Partner Releases Its First NI43-101


Rambler's Strategic Partner Releases Its First NI43-101

Resource Estimate on the Green Bay Property Group

LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR -- (Marketwired) -- 05/28/13 -- Rambler Metals and Mining plc (TSX VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') would like to announce that its Strategic Partner, Maritime Resource Corp. (TSX VENTURE:MAE) ('Maritime') has released its first NI43-101 compliant resource estimate encompassing the entire Green Bay Property group, located in Newfoundland and Labrador, Canada. Maritime holds 100% of the Green Bay Property which hosts the former producing Hammerdown Gold Mine and the newly discovered Orion deposit.

A copy of Maritime's press release has been attached in its entirety under Appendix 1. For more information on the Green Bay Property group please visit Maritime's website at www.maritimeresourcescorp.com. A technical report is being prepared and will be filed with SEDAR within 45 days.

George Ogilvie, President and CEO, comment:


 
     "We are pleased to see our Strategic Partner, Maritime Resources,      
     advancing this project forward with its first NI43-101 resource        
     estimate. Rambler's investment in Maritime was partly based on the     
     potential of the Hammerdown Gold Mine and it's synergies with our      
     own Nugget Pond milling facility, where the ore from Hammerdown        
     was formerly processed between 2000 and 2004.                          
                                                                            
     In many ways the Hammerdown Gold Mine resembles the Ming Mine          
     before it was dewatered and brought back into production. The          
     increase in resource ounces on the Orion deposit is also               
     encouraging as it may add new flexibility to the potential of the      
     property group.                                                        
                                                                            
     We look forward to continuing to build on our strategic                
     partnership with Maritime."                                            

ABOUT RAMBLER METALS AND MINING

Rambler is a mining and development Company that in 2012 brought its first Mine into commercial production. The group has a 100% ownership in the Ming Copper-Gold Mine, a fully operational copper and gold processing mill and year round bulk storage and shipping facility all located on the Baie Verte peninsula, Newfoundland and Labrador, Canada.

Our Company Vision is to be the leading mine operator and resource developer in Atlantic Canada through the expansion of the Ming Mine, discovering new deposits and through mergers and acquisitions. Rambler listed on the London AIM in 2005 and Toronto TSX-V in 2007.

ABOUT MARITIME RESOURCES CORP.

Maritime Resources holds a 100% interest in the Green Bay property group which hosts the past producing Hammerdown gold mine, the Orion gold deposit, separated by a 1.5 km distance, and the Lochinvar base / precious metals deposit.

Hammerdown itself was successfully mined by Richmont Mines between 2000 and 2004 with gold prices averaging $325 US per ounce. During its operation a total of 291,400 tonnes of ore were mined and milled, at an average head grade of 15.83 g/t gold, recovering a total of 143,000 ounces during its life. All ore was processed at the Nugget Pond mill, now owned and operated by Rambler Metals and Mining, with an average gold recovery of 97.1%. Mining concluded in 2004 due to low gold prices with mineralization remaining, although uneconomic at that time. The Orion gold deposit consists of two main vein systems, both of which are open along strike, up and down plunge.

Larry Pilgrim, P.Geo., 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 plc.

Tonnes referenced are dry metric tonnes unless otherwise indicated.

Caution Regarding Forward Looking Statements:

Certain information included in this press release, including information relating to future financial or operating performance and other statements that express the expectations of management or estimates of future performance constitute "forward-looking statements". Such forward-looking statements include, without limitation, statements regarding the financial strength of the Company, estimates regarding timing of future development and production and statements concerning possible expansion opportunities for the Company. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimates regarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actual results, developments or events to differ materially from those anticipated include, among others, increases/decreases in production; volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton of ore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfully integrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes, royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue reliance should not be placed on forward-looking statements and the forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereof and the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward- looking statements contained in any other documents whether as a result of new information, future events or otherwise, except as required under applicable securities law.


 
                                  APPENDIX 1                                
                                                                            
                                                                            
                                            11th Floor, 1111 Melville Street
                                                       Vancouver BC, V6E 3V6
                                                            PH: 604-685-5254
                                                           FAX: 604-685-2814
                                                                            
                                                                May 28, 2013
                                                         News Release: 13-04

Maritime Releases First NI 43-101 Resource Estimate for Green Bay Gold Property, Newfoundland

Maritime Resources Corp. (TSX VENTURE:MAE) ("Maritime" or the "Company") - is pleased to announ ce that the Company has received the initial independent NI 43-101 Mineral Resource Estimate for its 100% owned Green Bay Gold property near Springdale, Newfoundland. The mineral resource for the property is estimated to contain in excess of 400,000 ounces of gold in the Measured and Indicated category, using a 3 g/t cut-off grade, and in excess of 600,000 ounces in the Inferred category, also at a 3 g/t cut-off grade.

The estimate was compiled by Tetra Tech and includes all newly discovered gold mineralization resulting from the 2011 and 2012 exploration programs in addition to any un-mined deposits on the Green Bay property that remain from previous operation. The property consists of the former Hammerdown Mine (developed between 2001 and 2004), including the Rumbullion and Muddy Shag zones in the north, and the Orion deposit situated 1.5 km to the south. The effective date of the Mineral Resource Estimate is May 23, 2013.

Eric Norton, President and CEO, comments:


 
     "We are extremely pleased to have completed this maiden Mineral        
     Resource Estimate. The resource model is robust and incorporates       
     all historic as well as new drilling results. The uniquely             
     appealing aspects of this project are the high grades of the           
     veins, the accessibility of the deposit from surface, including        
     access to the existing underground ramp system, and excellent          
     local infrastructure including roads, power and fresh water to the     
     site. It is particularly satisfying to see that the overall grade      
     of the Hammerdown deposit is relatively insensitive to the             
     selection of the cut-off grade.                                        
                                                                            
     Our exploration activity completed in 2012 demonstrated that the       
     deposit remains open along strike, and the Company is confident        
     that there is potential for this estimate to increase with further     
     work. The 3D modelling that has now been completed will help guide     
     future drill programs by highlighting strategic drill targets that     
     can hopefully add new ounces, or upgrade resource categories."         

The Mineral Resource Estimate incorporates 724 historic drill holes from which over 16,000 gold assay samples were collected. Recent work includes over 3,700 metres of diamond drilling in 11 holes at Orion in 2011 and 2,500 metres in 16 holes drilled at Hammerdown in 2012. The 2012 exploration program also trenched and exposed 120 metres of the Rumbullion vein system at surface where 445 channel samples were taken from 37 channels cut at strict three metre intervals. Work was curtailed due to the onset of winter weather, but the veins remained robust at the eastern extremity and are available for further follow-up work and sampling.

MINERAL RESOURCE STATEMENTS FOR THE GREEN BAY, NEWFOUNDLAND PROJECT USING 3 G/T GOLD CUT-OFF GRADE


 
                              HAMMERDOWN DEPOSIT                            
                                                                            
----------------------------------------------------------------------------
                                                           Grade        Gold
Category      Deposit or Zone                 Tonnes    (g/t Au)    (Ounces)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Measured      Hammerdown                     157,100       12.35      62,400
              Rumbullion                      45,800       11.31      16,600
----------------------------------------------------------------------------
              Measured Subtotal              202,900       12.12      79,000
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Indicated     Hammerdown                     289,300       11.71     108,900
              Rumbullion                     235,300       11.00      83,200
----------------------------------------------------------------------------
              Indicated Subtotal             524,600       11.39     192,100
----------------------------------------------------------------------------
              M&I Total                      727,500       11.59     271,100
----------------------------------------------------------------------------
----------------------------------------------------------------------------
              Hammerdown                     922,000        8.13     240,900
Inferred      Rumbullion                     773,000        6.46     160,600
              Muddy Shag                      72,000       14.91      34,500
----------------------------------------------------------------------------
              Inferred Total               1,767,000        7.68     436,000
----------------------------------------------------------------------------
                                                                            
                                ORION DEPOSIT                               
                                                                            
----------------------------------------------------------------------------
                                                           Grade        Gold
Category      Deposit or Zone                 Tonnes    (g/t Au)    (Ounces)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Measured      Orion                                0           0           0
----------------------------------------------------------------------------
              Measured Subtotal                    0           0           0
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Indicated     Orion                        1,096,500        4.47     157,500
----------------------------------------------------------------------------
              Indicated Subtotal           1,096,500        4.47     157,500
----------------------------------------------------------------------------
              M&I Total                    1,096,500        4.47     157,500
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Inferred      Orion                        1,288,000        5.44     225,100
----------------------------------------------------------------------------
              Inferred Total               1,288,000        5.44     225,100
----------------------------------------------------------------------------
                                                                            
                                                                            
                  SENSITIVITY OF RESOURCES TO GRADE CUT-OFF                 
                                                                            
----------------------------------------------------------------------------
Resource                                
                    Grade       Gold
Category             Cut-off    Deposit         Tonnes   (g/t Au)   (Ounces)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                     2 g/t Au   HD, RM, MS      831,330     10.46    279,574
                                Orion         1,581,500      3.87    196,776
                     -------------------------------------------------------
Measured and         3 g/t Au   HD, RM, MS      727,460     11.59    271,072
Indicated                       Orion         1,096,500      4.47    157,582
                     -------------------------------------------------------
                     4 g/t Au   HD, RM, MS      642,180     12.67    261,592
                                Orion           630,500      5.24    106,220
                     -------------------------------------------------------
                     5 g/t Au   HD, RM, MS      562,760     13.82    250,048
                                Orion           347,200      5.86     65,414
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                                                                            
----------------------------------------------------------------------------
----------------------------------------------------------------------------
                     2 g/t Au   HD, RM, MS    2,204,000      6.64    470,513
                                Orion         1,891,000      4.52    274,803
                     -------------------------------------------------------
                     3 g/t Au   HD, RM, MS    1,767,000      7.68    436,304
Inferred                        Orion         1,288,000      5.44    225,272
                     -------------------------------------------------------
                     4 g/t Au   HD, RM, MS    1,336,000      9.02    387,440
                                Orion           917,000      6.18    182,201
                     -------------------------------------------------------
                     5 g/t Au   HD, RM, MS    1,027,000     10.39    343,066
                                Orion           692,000      6.75    150,176
----------------------------------------------------------------------------
HD = Hammerdown  RM = Rumbullion  MS = Muddy Shag 
 
1.  CIM definition standards were followed for the resource estimate.
2.  The 2013 resource models used Ordinary Krig grade estimation within a
    three-dimensional block model with mineralized zones defined by
    wireframed solids.
3.  A cut-off grade of 3.0 g/t Au over 1.2 metres was used for reporting
    resources with capping of gold grades at 125 g/t at Hammerdown and 50
    g/t at Orion.
4.  A Specific Gravity of 2.84 was applied.
5.  Numbers may not add exactly due to rounding.
6.  Mineral Resources, which are not mineral reserves, have not demonstrated
    economic viability.
7.  The quantity and grade of reported inferred resources in this estimation
    are uncertain in nature and there has been insufficient exploration to
    define these inferred resources as an indicated or measured mineral
    resource and it is uncertain if further exploration will result in
    upgrading them to an indicated or measured mineral resource category.
8.  A portion of the estimated resource, specifically the Hammerdown
    mineralization, may be located in close proximity to previously mined
    areas and, as such, may not be recoverable due to structural or safety
    concerns.

The Resource Estimate was prepared by Todd McCracken, P. Geo. of Tetra Tech, Sudbury, ON. Mr. McCracken is a qualified person and independent of the Company, as defined by section 1.5 of NI 43-101.The mineral resource estimate is based on the combination of geological modeling, geostatistics and conventional block modeling using the Ordinary Krig method of grade interpolation. The mineral resources were estimated using a block model with parent blocks of 5m X 5m X 5 m split three times into sub -blocks. The geological model including mineralized intercepts were generated by Maritime personnel and then audited by Tetra Tech. The QAQC protocols and corresponding sample preparation and shipment procedures have been reviewed by Tetra Tech.

A technical report is being prepared and will be filed on SEDAR in the next 45 days.

ABOUT MARITIME:

Maritime Resources holds 100% of the Green Bay property which hosts the past producing Hammerdown gold mine and the Orion gold deposit separated by a 1.5 km distance, and the Lochinvar base metals/precious metals deposit.

The Hammerdown gold deposit was successfully mined by Richmont Mines between the years 2000 and 2004 while gold prices averaged $325/oz. During its operation a total of 291,400 tonnes of ore were mined and milled, at an average grade of 15.83 g/t Au, recovering a total of 143,000 ounces of gold. All of the ore was processed at the Nugget Pond mill, now owned and operated by Rambler Metals, with an average gold recovery of 97.1%. Mining concluded in 2004 due to low gold prices with mineralization remaining, although uneconomic at that time. The Orion gold deposit consists of two main vein systems, both of which are open along strike, up and down plunge.

Maritime would like to acknowledge the financial support provided by the Junior Exploration Assistance Fund granted by the Government of Newfoundland and Labrador's Department of Mines and Energy.

A map of the Green Bay property showing the location of the gold deposits and local infrastructure are available, along with additional information regarding the Resource Estimate, at the Company's website (www.maritimeresourcescorp.com).

On Behalf of the Board of Directors,

Eric W. Norton, President & CEO

Statements in this press release, other than purely historical information, including statements relating to the Compan y's future plans and objectives or expected results, may include forward-looking statements. Forward-looking statements are based on numerous assumptions and are subject to all of the risks and uncertainties inherent in resource exploration and development. As a result, actual results may vary materially from those described in the forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility adequacy or accuracy of this release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contacts: Rambler Metals and Mining George Ogilvie, P.Eng. President and CEO 709-800-1929 709-800-1921

Rambler Metals & Mining Plc Corporate Office +44 (0) 20 8652-2700 +44 (0) 20 8652-2719 (FAX) www.ramblermines.com

Cantor Fitzgerald Europe Stewart Dickson / Jeremy Stephenson +44 (0) 20 7894 7000

Pelham Bell Pottinger Marcin Zydowicz +44 (0) 20 7861 3921

Ocean Equities Limited Guy Wilkes +44 (0) 20-7786-4370

Maritime Resources Corp. Cathy DiVito Investor Relations (604) 484-7111 info@maritimeresourcescorp.com www.maritimeresourcescorp.com

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