Ming Mine Project Overview

Rambler Metals and Mining was established to invest in the base metal sector in politically stable jurisdictions. Its principal project is the Ming Copper-Gold Mine, located on the Baie Verte Peninsula of Newfoundland and Labrador, Canada. Rambler's Strategic Vision is the be the leading mine operator and resource developer in Atlantic Canada.

First production from the mine began on November 28, 2011 from the 1806 gold zone. Production from this zone continued up to early May 2012, having produced 14,918 ounces of gold dore at Nugget Pond mill. Live ore commissioning of the copper concentrator began on May 14, 2012. At the end of fiscal Q1 2013, Rambler had 6,000 tonnes of wet copper concentrate stored at their Goodyear's Cove storage facility, awaiting shipment by Transamine Trading. The company subsequently declared commercial production on 1st November 2012, which was the start of its 2Q 2013 reporting period.

Location

The Ming Mine is located in Canada, on Newfoundland and Labrador's Baie Verte Peninsula. The Northwestern coast of the island of Newfoundland has a history and culture of gold, base metals and industrial minerals mining dating back to the mid-1800's. The major centre for the region is the town of Baie Verte, which offers several mining and exploration service providers, deep water loading, hotels, schools, shopping, medical facilities and recreational facilities.

History

  • The Rambler property contains the former producing Ming and Ming West copper-goldmines.
  • The Ming Mine last operated in 1982 and produced over 2.1 million tons of ore grading 3.5% copper, 2.5 g/t gold and 11 g/t silver over 10 years in operations. The historical recoveries were 92-95% Cu, 60-75% Au and 55% Ag. Mining ceased when workings reached a neighboring property boundary.
  • The Ming West Mine operated for a short period between 1995 and 1996 producing 271,000 tons grading 4.0% Cu and 5.8 g/t Au.

Recent Events

  • November 2012 – Declared commercial production on the Ming Mine property
  • October 2012 – To date, 7,500 wmt Copper Concentrate in storage at Goodyear's Cove storage facility ready for shipment at the end of the month
  • October 2012 – Bought out 1% NSR on the Ming Mine property for C$500,000.00
  • May 2012 – Commissioning of the Copper concentrator with run of the mine ore from the Lower footwall zone.
  • May 2012 – Paid Sandstorm C$7.8 million as part of the payback agreement of an initial funding agreement in March 2012
  • May 2012 – 5 month production of the 1806 zone produced 14,918 ounces of gold grossing in excess of C$ 25 million in revenue.
  • March 2012 – Developed a strategic partnership with China based Tinma international whom now has 16.02% of Rambler's share capital
  • March 2012 – Completed a PEA to include the Lower Footwall Zone mineralization in its mine plan.
  • February 2012 – Became a strategic partner of Maritime Resources Corp. through 17% equity stake.
  • February 2012 – Bought out 2% NSR on the Ming Mine property for C$600,000.00
  • January 2012 – Signed a commercial off-take agreement with Transamine Trading Ltd.
  • November 2011 - Processing of ore from the 1806 gold zone commences.
  • October 2011 – Initial commissioning of the new copper concentrator began.
  • April 2011 - Development Plan approved for Tilt Cove East Mine. Processing began in June.
  • April 2011 - Commenced mining of the Nugget Pond Crown Pillar.
  • March 2011 - The project is on track for first production during the second half of 2011.
  • January 2011 - Construction work on the mill's foundation and second means of egress via the shaft complete. Concentrator steel and new office /dry facility construction underway.
  • November 2010 – Began construction of the new Copper concentrator at Nugget Pond.
  • September 2010 - The Company embarked on a custom toll milling arrangement, generating its first revenues.
  • May 2010 - The Company received notification for the environmental approval of the Ming Mine project.
  • March 2010 - The Company successfully negotiated a US$20M funding from Sandstorm Resources (TSX-V:SSL) to bring the former producing Ming Mine back into production.