Rambler Exercises Warrants in Support of Maritime's Work Program on the Green
Bay Gold Property
LONDON, ENGLAND and BAIE VERTE, NEWFOUNDLAND AND LABRADOR --
(Marketwired) -- 07/18/13 -- Rambler Metals and Mining plc (TSX
VENTURE:RAB)(AIM:RMM) ('Rambler' or the 'Company') would like to
announce that it has exercised 588,230 warrants at $0.25 CAD
representing one common share each of Maritime Resources Corp. (TSX
VENTURE:MAE) ('Maritime'). The proceeds of the exercise will help
fund the 2013 work program which has been developed to further
advance the Green Bay Gold Property and the previously producing
Hammerdown gold mine in particular.
Following the exercising Rambler will hold 5,751,460 shares
representing 18.44% of the outstanding shares of Maritime.
Further information on the Green Bay Gold Property can be found on
Maritime's website at www.maritimeresourcescorp.com along with the
NI43-101 Compliant Technical Report recently filed on SEDAR on 11
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,
Our Company Vision is to be Atlantic Canada's leading mine operator
and resource developer 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.
Neither TSX Venture Exchange nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
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.
Rambler Metals and Mining plc
George Ogilvie, P.Eng.
President and CEO
709-800-1929 or 709-800-1921
Rambler Metals and Mining plc
+44 (0) 20 8652-2700
+44 (0) 20 8652-2719 (FAX)
Cantor Fitzgerald Europe
Stewart Dickson / Jeremy Stephenson
+44 (0) 20 7894 7000
Pelham Bell Pottinger
+44 (0) 20 7861 3921
Ocean Equities Limited
+44 (0) 20-7786-4370
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