Rambler Signs Commercial Off-Take Agreement with Transamine

Rambler Signs Commercial Off-Take Agreement with Transamine

Rambler Metals and Mining plc is pleased to announce that it has signed an off-take agreement for its copper concentrate production from the Ming Mine with Transamine Trading. This is the Company's first off-take agreement and ensures that all of Rambler's copper concentrate will be sold at international market rates.

With construction of the new concentrator now complete it is timely to have finalized this agreement with Transamine, a well known international trading company. The agreement will see the sale of 85,000 tonnes of copper concentrate from the Ming Mine to Transamine over an initial six year period and includes a provisional payment for concentrate as it arrives at the Goodyear's Cove port facility. This is of particular importance to Rambler as it will ensure steady cash flow to the Company as soon as concentrate production begins in 2Q 2012.

George Ogilvie, President and CEO commented:
"We are pleased to have entered into an off-take agreement with Transamine for the sale of 85,000 tonnes of concentrate over the initial 6 year mine life at international spot rates. Importantly the off-take offers competitive terms including provisional payments for concentrate whilst in storage awaiting shipment. In the coming months, once concentrate production begins, the first ore to be mined will be from the high grade 1807 Zone. With a measured and indicated resource of 432,000 tonnes grading 3.86% copper, 1.75 g/t gold and 7.18 g/t silver concentrate produced from this zone will greatly assist Rambler's immediate cash flow.

As Rambler looks to expand as a Company, both organically and externally, we look forward to further building on our relationship with Transamine."

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