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ExecutiveSummary Introduction Rambler Metals and Mining PLC (‘Rambler’ or ‘RMM’) is a company that formed in April 2004 and is currently listed on the Alternate Investment Market (AIM) of the London Stock Exchange under the symbolRMMaswellasontheTorontoVentureExchange(TSXͲV)underthesymbolRAB.Thecompany wasestablishedtoinvestinthebasemetalsectorinpoliticallystablejurisdictions.Itsprincipalprojectis the Ming Mine CopperͲGold Property, located on the Baie Verte Peninsula of Newfoundland and Labrador,Canada.  TheMingProperty(alsoreferredtoasthe‘MingCopperͲGoldMine’orthe‘RamblerProperty’)contains theformerproducingMingandMingWestcopperͲgoldmines.TheMingMineitselflastoperatedin1982 and the Ming West Mine in 1996.  Mining of the Ming Mine ceased when the workings reached a neighboringpropertyboundary.RamblerMetalsandMiningacquiredthepropertyin2005afterithad beensuccessfullyconsolidated.  The company has undertaken the necessary engineering studies to evaluate the feasibility of reͲ establishing a mining operation for the Ming Mine.  Exploration drilling (surface and underground) has testedmultiplezonesofCuͲAumineralizationdownplungeandalongstrikeoftheformerorebodiesand subsequentlyconfirmedthatsignificantmineralizedextensionsexist.Anevaluationoforiginaldocuments for the Ming Mine has also determined that an unmined resource exists below the 2200 level as an addition to remnant pillars from surface to the 1985 level.  Detailed engineering work on the ore metallurgyandminedevelopmenthasdemonstratedaneconomicallyviableoperationovertheinitial6 years.  ThecompanyhasalsorecentlypurchasedtheNuggetPondgoldprocessingfacility(‘millsite’)locatedjust 40 km’s from the Ming Mine.  The gold concentrator will be adapted to process base metals sulphides from the Ming Mine through the addition of a copper flotation circuit as well as processing tailings through the existing gold hydromet for improved gold recovery.  The modification will diversify the existing facility and allow for a range of processing capabilities.  The acquisition of a fully operational, permitted,goldhydrometallurgicalmillalsoprovidesanoptiontoprocessotherorethroughtollmilling contracts.TheseagreementscouldextendthelifeofminewellbeyondtheexistingresourcesoftheMing Mine.  AllworkhasbeencompletedtoNI43Ͳ101standardsatafeasibilitylevel.Allinformationcontainedwithin hasbeencompiledbyindependentconsultingfirmsforinclusioninthisreport. 



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MineralResourceEstimation The mineral resources presented herein are reported in accordance with the Canadian Securities Administrators National Instrument 43Ͳ101 and have been estimated in conformity with generally acceptedCanadianInstituteofMining(CIM)“EstimationofMineralResourceandMineralReservesBest PracticesGuidelines”.Mineralresourcesarenotmineralreservesandhavenotdemonstratedeconomic viability.Thereisnoguaranteethatalloranypartofthemineralresourcewillbeconvertedintomineral reserve.  The resource estimation work was completed by Rambler staff under the supervision of Larry Pilgrim, P.Geo chief geologist for Rambler Metals and reviewed and verified by Dave Barbour, P.Geo an “independentqualifiedperson”asthistermisdefinedinNationalInstrument43Ͳ101.Theeffectivedate ofthisresourceestimateisAugust9,2010.  The Classified resources for the 1807 Zone, Ming South Up Plunge Zone, Ming South Down Plunge are definedata1.0%Cucutoff.TheUpperFootwallZoneandtheLowerFootwallZonehavebeentabulated at 1.25% Cu. The 1806 Zone is characterized by a gold cutoff grade of 1.25 g/t. In the unmined and remnant pillars resource the grades applied by CRML on original documents was also used by Rambler MetalsandMiningintheresourcecalculations. TableI:CombinedMingMineMineralResourceStatement,August9,2010. 





Resource

Quantity

Grades

ContainedMetal



Classification



Copper

Gold

Silver

Zinc

Copper

Gold

Silver

Zinc



(000't)

%

g/t

g/t

%

tonnes

oz

oz

tonnes





   

 TotalMeasured

1,283

2.07

2.47

13.72

0.71

26,524

102,074

565,836

9,131



TotalIndicated

9,389

1.73

0.35

2.51

0.07

162,251

107,068

749,014

6,632

10,672

1.77

0.61

3.88

0.15

188,775

209,142

1,314,850

15,764

1,847

1.91

1.83

8.82

0.66

35,355

108,421

445,961

10,313

Combined Measured+Indicated Inferred



MineralReserveEstimation ThemineralreserveestimatewascalculatedbyRamblerstaffandreviewedandapprovedbyStantec.The mineral reserves presented herein are reported in accordance with the Canadian Securities Administrators National Instrument 43Ͳ101 and have been estimated in conformity with generally acceptedCIM“EstimationofMineralResourceandMineralReservesBestPracticesGuidelines”.  Five mining areas were identified in the Ming Mine for mine design. These are identified as the 1806, 1807,MingSouthUpPlunge,MingSouthDownPlunge,andRemnantPillars. 

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 Minable development and production shapes were created in ProMine software and exported to Datamineforinterrogationagainsttheblockmodelforeachzone.Rawresourcetonnesandgradewere returnedtoEngineering,whereuponminingdilutionandrecoverywereapplied.  The summary of minable tonnes is shown in the table below. No inferred material is included in the reservetabulation. TableII:MingMineMineralReserveStatement,August9,2010.  

MingMineMineralReserve StatementͲ August9,2010 RamblerMetalsandMiningCanadaLimited 





Reserve

Quantity



Category



Copper

Gold

Silver

Zinc

Copper

Gold

Silver

Zinc



(000't)

%

g/t

g/t

%

tonnes

oz

oz

tonnes



652 572 274

2.25 1.67 0.00

3.24 2.61 0.00

16.44 9.90 0.00

0.75 0.43 0.00

14,707 9,545 0

67,612 47,938 0

343,008 182,131 0

4,878 2,433 0

1,498

1.62

2.40

10.90

0.49

24,252

115,549

525,139

7,311





Grades

ContainedMetal









Proven Probable Dilution(allsources)





TotalProvenandProbable 





 





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UndergroundMinePlan A 3D wireframe model of the Rambler underground mine using measured and indicated resources was created to facilitate mine design and estimation of development quantities. The 3D model of the undergroundplanisbasedonthelatestpublishedresourceestimate.  Themainobjectiveforminedesignwastointegratetheexistinginfrastructuresandexcavationswithnew developmenttominimizecapitalexpenditures. 

 FigureI:IsometricViewFiveMiningZones Mineexcavationshavebeendesignedforthe1806,1807,MingSouthDownPlunge,UpperFWZandMing SouthUpPlunge.Therehabilitationoftheproductionshafthoistingsystemisnotrequiredinthepresent plan. However the manway compartment is planned to be reconditioned and to be used as a second meansofegress.

Planstominetheunminedareasbetweenthe2200and2600levelsincludesdewateringofthe remainderoftherampaccessandpartiallyminedoutareastotheendoftherampatthe2600 level.ReͲhabilitationoftherampandaccesstoexistingstopesisrequired.TheFigureIIbelow showsthelocationoftheunminedareasbelowthe2200levelwithrespecttotheunderground facilityandotherresourceblocks.

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FigureII:Unminedorezonesbelowthe2200levelwithrespecttoundergroundmineworkingsand massivesulphideorezones.   TableIIIandIVshowsthetonnesandgradeandmetalcontainfortheLifeofMinePlan. TableIII:TonnesandGradeofOreMined   Ore (mt) Production Cu% (%) Aug/t (g/t) Agg/t (g/t) Zn% (%) 

Year1

Year2

Year3

Year4

Year5

Year6

181,997

227,216

215,498

215,881

223,920

189,673

2.52 1.61 6.45 0.66

3.21 3.75 20.13 0.47

1.19 2.17 12.87 0.77

1.23 2.40 9.69 0.30

1.29 2.92 9.65 0.30

1.32 2.48 8.79 0.47



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 TableIV:ConcentrateProducedofOreMined Metal  Year1 Year2 Year3 Year4 Year5 Year6 Cu lb 9,338,182 15,298,746 5,232,047 5,394,418 5,877,226 5,101,663 6,259 18,196 9,962 11,071 13,948 10,032 Au oz 20,757 80,888 49,026 37,001 38,218 29,498 Ag oz 

DevelopmentandProductionSchedule With the environmental registration, detailed surface engineering and financing now completed constructionisexpectedtobegininthethirdquarterfor2010.Thiswouldallowforthefirstoretobe producedbythethirdquarter2011. ThesimplifiedprojectscheduleisshowninfigureII.

FigureII:ProjectSchedule

 MetallurgyandMineralProcessing A bench scale metallurgical test program was developed and managed by Thibault & Associates Inc. to provide design data as required to define a process flowsheet and design criteria for this study. The development of the process flowsheet was based on the recovery of copper as a copper concentrate usingaselectiveflotationprocess.Goldrecoverywasbasedonflotationofpartofthegoldtothecopper concentrateandrecoveringadditionalgoldbycyanideleachingoftheflotationtailings.Thetestworkwas conductedbyseveraldifferentservicelaboratories:  ƒ SGSMineralServices(Lakefield,Ontario)ͲCrushingandGrindingIndexTesting,Mineralogy Testing

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 ƒ ƒ ƒ ƒ ƒ ƒ ƒ

ResearchandProductivityCouncil(Fredericton,NewBrunswick)ͲBenchScaleFlotation TestsandTailingsStabilityTests PacificPressCo.(Fullerton,California)ͲConcentrateFiltrationTests Thibault&AssociatesInc.(Fredericton,NewBrunswick)ͲConcentrateThickeningTestsand GoldLeachingTests MetͲSolveLaboratoriesInc.(Burnaby,BritishColumbia)ͲGravityRecoverableGoldTestingͲ CentrifugalSeparator MineralsEngineeringCentre(Halifax,NovaScotia)ͲGravityRecoverableGoldTestingͲTable BuchananEnvironmentalLtd.(Fredericton,NewBrunswick)ͲAquaticLifeToxicityTest AMTEL(London,Ontario)ͲFlotationTailingsGoldAssociationandDeportmentMineralogical Studies

 Rambler Metals and Mining Canada Limited selected and provided several metallurgical samples for testing.TableVsummarizessomeofthekeyheadassaydataforthemetallurgicalsamplesusedinthe test program. The Composite sample was selected by Rambler Metals and Mining Canada Limited to represent a typical "runͲofͲmine" sample, and consisted of a blend of drill core from throughout the depositplusaportionofabulksamplefromthe1807faceaswellassomewasterock.  TableVHeadAssayDataforTestProgramMetallurgicalSamples

SAMPLE

DESCRIPTION

Fe (wt%)

Cu (wt%)

Composite VariabilityA/B VariabilityC VariabilityG

RunofMine

24.1 17.1 32.1 26.7

3.10 9.62 2.24 1.25

HighCopper HighGold LowCopper

HEADANALYSIS Pb Zn S Ag Au (wt%) (wt%) (wt%) (g/tonne) (g/tonne) 0.11 0.09 0.13 0.13

0.63 0.18 0.91 0.52

26.1 15.6 33.7 31.3

14 18 19 14

1.84 1.56 3.58 1.85

 Open circuit batch flotation kinetic tests were conducted on the Composite metallurgical sample to evaluate the effect of the following parameters on rougher and cleaner flotation performance: reagent scheme and dosage, primary grind particle size, and the effect of regrind and regrind particle size. The reagentschemetestedincludedthefollowing:  ƒ Lime(pHcontrol,ironsuppression) ƒ ZincSulphate(ironandzincsuppression) ƒ SodiumCyanide(ironandzincsuppression) ƒ PotassiumAmylXanthate(PAXͲcopperandgoldcollector) ƒ CytecAerophine3418A(copperandgoldcollector) ƒ MethylIsobutylCarbinol(MIBCͲfrother)  AlockedcycletestwascompletedusingtheCompositemetallurgicalsamplewithaprimarygrindsizeof approximately 80% passing 70 microns with no regrind of the rougher or scavenger concentrate. The lockedcycleflowsheetandreagentschemeareillustratedinFigureIII. 

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 Crushed Ore (Composite Sample) Water Lime NaCN 60 g/tonne ZnSO4 200 g/tonne

Grinding

3418A 1.5 g/tonne

pH 9.0-9.5 MIBC 1.5 g/tonne 3418A 20 g/tonne

Water

Water

MIBC 15 g/tonne

Lime

Lime

Conditioning

Conditioning

pH 10.0-10.5

pH 10.0-10.5

Rougher Float

Water

Water

Lime

Lime

Concentrate

Concentrate

pH 10.0-10.5

Primary Cleaner Float pH 10.0-10.5 Tails

Tails

3418A 5 g/tonne

Water

MIBC 5 g/tonne

Lime

Water 3418A 0.7 g/tonne Lime MIBC 0.7 g/tonne

Concentrate

Concentrate

Scavenger Float pH 10.0-10.5

Cleaner Scavenger Float pH 10.0-10.5 Tails

Tails

Final Tails

Final Tails Water Lime

Secondary Cleaner Float

Concentrate

Final Concentrate

pH 10.0-10.5 Tails

  FigureIII:LockedCycleFlotationTestBlockDiagram 





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 Theresultsofthelockcycletestprogramanddesigncriteriaforconcentratorthroughputaresummarized inTableVI. TableVI:DesignCriteriaͲOreCharacteristics,ConcentratorThroughputandOverallRecovery Parameter

Units

Runofmineoremoisturecontent

wt%

ROMorebulkdensity  Copperheadgradedrybasis

tonne/m³

Value

Comments

4.0  1.8to2.0

Typicalundergroundmine

wt%

4.00max. 

Concentrator design capacity ROM orethroughput  Concentrator annual availability at designcapacity  Maximum overall copper recovery toconcentrate

tonne/d (dry)

1000

As per Rambler directives. Mine grade control andblendingwillberequiredtomaintaingrade below 4% copper. Higher grades above 4% copper will require operation at lower throughput. At100%availability

%

90 

Totalavailabilityover365days

wt%

Asperrecoveryvs.headgradecurvefrom1807 ore locked cycle test and variability batch tests ondifferentcopperheadgrades. 

Overall gold recovery to concentrate.  Copperconcentrategradedrybasis 

wt%

92.9 at 1.50% Cuhead. 96.3 at 4.00% Cuhead.  66.4%

wt%Cu

25.0min. 30.0max.

Basedonspecificgravity

Based on locked cycle test on 1807 zone sample. Based on typical smelter requirements. Equipmentsizingbasedonminimumgrade. 



 Environmental TheEnvironmentalRegistrationfortheProjectwassubmittedtotheNLDOEConApril12,2010andthe companywasofficialreleasedfromenvironmentalassessmentonMay27,2010.TheMinistersdecision outlinedthreeconditionsofreleaseasoutlinedbelow: x x x

A Women’s Employment Plan must be submitted and approved by the Minister of Natural Resourcespriortothecommencementofconstruction. An Environmental Protection Plan (EPP) must be submitted and approved by the Minister of EnvironmentandConservationpriortothecommencementofconstruction. Rambler Metals and Mining must provide additional information regarding anticipated employment during the construction and operations phases of the project. This information must be provided to the Department of Human Resources Labour and Employment prior to construction.

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IndicativeProjectEconomics Table VII shows the estimated project operating cost ($/t milled) at the planned full production rate of 630mtpd. TableVII:ProjectOperatingCostSummary Function

$/tonne

Mining GeneralandAdmin.

62.55 12.29

SubͲtotal Processing Portoperationsandtransportation Oretransportation&concentratehandling TreatmentandRefining($35/t&40.35/t) Royalties(Buyout&Payment@1.5%NSR) Reclamation

74.84 $15.70 0.59 12.16 3.93 2.63 1.04

TotalSiteCosts $110.89  Theproject’spreͲproductioncapitalcostestimateis$25.5millioncompletewithanappropriatelevelof contingency for the various aspects. Another $27.9 million is required for sustaining capital.  Table VIII showstheestimatedpreͲproductionprojectcostin$US.   TableVIII:PreͲProductionProjectCostSummary  Cost Function ($USmillions) Processing MineSite PortSite Contingency

10.5 10.6 2.1 2.3

TotalCapitalCost

$25.5million

SustainingCapital

27.9

MineClosure

1.3

TableIVandVbelowsummarizestheprojecteconomicsandassociatedparametersfortheMingCopperͲ GoldMine.      

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 TableIV:ProjectEconomics Item  Copperproduced(lbs) Goldproduced(ozs) SilverProduced(ozs)  TotalRevenue($USmillion) PreͲtaxOperatingCashflow($USmillion) Net Present ValueͲbefore tax ( 6% InternalRateofReturn(“IRR”) Payback(years)

Value 46,242,281 69,468 255,388 $210 $71.0 $14.3 23.7% 1.5



TableV:SummaryofEconomicParameters Item  AverageCopperPrice1 ($USperlbs) AverageGoldPrice1 ($USperoz) AverageSilverPrice1 ($USperoz)  $US/$CDNExchangeRate  OtherParameters MiningDilution(Stopes,Drifts) MiningRecovery(Stopes,Drifts) MillRecoveries(Cu,Au,Ag) ConcentrateGrade(Cu)  1

Value 3.00 1,000 14.50 0.95

15%,0% 90%,100% 92.4%,66.4%,55% 29.1%

Currentpriceforecasteddeclineoverthelifeofminetoalongtermpriceof$2.50 Cuperlb,$900Auperoz,and$12.00Agperoz.

 



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Opportunities MillGrinding Thelifeofmineplanpresentedhereinisbasedonamillingcapacityof696mtpdwhichisaconservative estimate for the ability of the existing circuit.  Recent grinding simulations completed by SGS Lakefield have demonstrated that the actual throughput range is between 693 to 890 mtpd depending on the hardnessoftheorezone.Further,withthefloatationexpansionsizedfor1000mtpdthereisasignificant opportunityforimprovedmillingthroughputwhichinturnwillstrengthentheproject’seconomics. GoldRecovery Theeconomicmodelutilizesagoldrecoveryof66.4%;basedonAurecoveryinthecopperconcentrate only.Withtheavailabilityofafullyfunctionalhydrometfacilitythereliesarealopportunitytoimprove Au recovery to 85% or better.  Au recovery and reagent test programs optimization with Thibault and Associateshavedemonstratedthatthisopportunityisviablewithminimalcapitalinvestment. ItisRambler’sintensiontofurtherevaluateimprovedgoldrecoveryscenariosoncethenewconcentrator isfullyoperationalandcommissioningandoptimizationiscompleted. MineralizedZonesOpeninMultipleDirections



Exploration on the extension of the massive sulphide horizon has been successful so far and all mineralizationremainsopenatdepthandinmanycasesalongstrike. Assuming the increased throughput at the Mill as discussed in 21.2.1 an increase of 306,000 tonnes of high grade ore from the 1807 increases the discounted, beforeͲtax Internal Rate of Return (“IRR”) to 56.9%andthediscountedbeforeͲtaxcashflowto$66.5million.Seetable22Ͳ1forfurtherdetails. InferredResource Atotalof1,847,000tonnesofadditionaloreliesintheinferredclassificationzoneandisnotincludedin thecurrentbasecaseLoMscenario.Thisresourceincludesgradesof1.91%Cu,1.83g/tAuand8.82g/t Ag.Assumingthatapproximately60%ofthisresourceiseconomicallyconvertedintoaminingreserve adds7yearstotheLoM.Seetable21Ͳ1forfurtherdetails. IndicatedLowerFootwallResource TheresourceestimatefortheLowerFootwallZonecontainssome7,853,000tonnesof1.60%copper.The scoping study report, compiled by SRK, indicated that the Lower Footwall is profitable on an operating basis.WithanoperatingmillonsiteandmorerobustcopperpricestheLFZprovidessubstantialupsideto thelongevityoftheproject. OperatingaMultiplePurposeMill Operatingabasemetalandgoldhydrometmillprovidesthecompanytheopportunityforcustommilling smallerdepositsintheareathatwouldnotbeprofitableasastandaloneoperationorindeedacquiring thesedepositsandmanagingthemastheowneroperator. 

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 UnͲminedAreaandPillars TheMingMinecontains125,000tonnesofdevelopedbutunminedareas(2.43%Cu,1.99g/tAu)inthe lowerlevelsofwhichonly29%hasbeenincludedinthemineablereserveormineplan.TheMingMine alsocontainsaninferredresourceof274,000tonnesinremnantpillarsatagradeof3.94%Cuand2.00 g/tAuwhichhasnotbeenincludedinthemineablereserve.

Risks ProjectFinancing InMarch,2010theCompanysecuredUS$20millioninprojectfinancingthroughagoldsalesagreement withSandstormResourcesLtd.Managementiscurrentlyassessingtheworkingcapitalrequirementfor thefirstsixmonthsofproduction.Whilethisdoesproposearisktotheproject,ifproductionstartͲupis timedcorrectly,fulladvantagecanbetakenofhigherthanaveragecopperandgoldprices. InferredandUnclassifiedMineralization Whilenoinferredmineralizationhasbeenincludedinthisbusinessplanthereisariskthattherewillbe lessmineabletonnesrealizedthandescribedorthemetalgradeaveragescouldprovetobelower. Environmental Theprojectwillcreatetailingsandwasterockthatbothhaveacidgeneratingpotential.Whilewasterock broughttosurfacewilleventuallybereturnedandstoredundergroundandalltailingswillbestoredina permittedimpoundbothwillrequirealongtermeffectsmonitoringprogram. Inadditionsinceallnewdevelopmentiswithinbrownfieldsitesfuturemonitoringprogramswillhaveto considertheeffectsofpreviousoperators.

Recommendations Based on the economic evaluation present herein the company recommends the following conclusions andrecommendations: x At the base case scenario, the project is economically viable with an average internalrate of return (beforeͲtax) of 23.7%.  However each of the opportunities listed provide significant upside to the project at minimal risk.  Efforts to advance the project should be made with these opportunities in mind. x All mineralized zones remain open at depth and across strike.  Future diamond drilling programs shouldfocusonexpandingtheknownresource,especiallythehighgrade1807zone,whileexploring fornewandundiscoveredmineralizationaspotentiallyindentifiedbytheTITANGeophysics. x The mine’s location is a benefit to the project with much of the required infrastructure already in place,including: o

Powergridwithin200metersoftheminesite;

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 o o o o

Worldclassroadsystemtotheminesite; 10kmfromocean; Abilitytoshipfromexistingport; Townwithinfrastructureandlaborforceinplace.  x Detailed modeling and interpretation of the Lower Footwall Zone suggests that there is a strongly mineralized(>2%Cu)corridorwithinthe7.85milliontonneresource(1.25%coppercutͲoff).TheLFZ isopeninthedownplungedirectionandgradesappeartobeimprovingatdepth.Uponcompletionof project financing it is recommended that a full internal feasibility study be completed specifically targeting the Lower Footwall Zone.  This study should focus on the economic extraction of the7.85 milliontonneshoweverparticularattentionshouldbemadetothehighergradecorridor. x DuringtheinitialrampupperiodofthemillshouldtheSAGMillprovetobea“bottleneck”theSAG Mill should be quickly changed out as both the Mine and the Copper Flotation Circuits have the capacitytorunat860mtpdand1,000mtpdrespectively. x DuringtheinitialrampupperiodinthemillthetailsformtheCopperFlotationCircuitshouldbereͲ directedthroughtheexistinggoldhydrometallurgicalcircuitforrecoveryofadditionalgoldwithcosts andoptimizationofreagentsbeingcloselymanaged. x The company should investigate a means of extracting the unͲmined areas and pillars. Due to their significant grade any extraction of these areas would benefit the economics and extend the life of mine. x Based on theevaluation todate it is recommended that the company proceed with construction to bring the mine back into production.  During construction the diamond drilling exploration program shouldcontinuetoupgradetheexistinginferredresourcesandexplorefornewmineralization.

 

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TableofContents  ExecutiveSummary..................................................................................................................I Introduction...........................................................................................................................................................I MineralResourceEstimation................................................................................................................................II MineralReserveEstimation..................................................................................................................................II UndergroundMinePlan......................................................................................................................................IV DevelopmentandProductionSchedule..............................................................................................................VI MetallurgyandMineralProcessing....................................................................................................................VI Environmental......................................................................................................................................................IX IndicativeProjectEconomics................................................................................................................................X Opportunities......................................................................................................................................................XII Risks.................................................................................................................................................................XIII Recommendations.............................................................................................................................................XIII

TableofContents....................................................................................................................1 ListofTables............................................................................................................................9 ListofFigures........................................................................................................................11 ListofAppendices.................................................................................................................13 4 Introduction...................................................................................................................14 4.1 4.2 4.3 4.4 4.5

Introduction...............................................................................................................................................14 BackgroundoftheProject..........................................................................................................................14 ScopeofWork............................................................................................................................................16 ProjectTeam..............................................................................................................................................17 BasisoftheTechnicalReport.....................................................................................................................17

5 RelianceonotherExperts...............................................................................................19 6 PropertyDescriptionandLocation.................................................................................20 6.1 6.2 6.3 6.4

7

Description.................................................................................................................................................20 LandTenure...............................................................................................................................................24 UnderlyingAgreements.............................................................................................................................25 HistoricalWorkingsattheMingMine.......................................................................................................25

Accessibility,Climate,LocalResources,InfrastructureandPhysiography.......................27 7.1 7.2 7.3 7.4 7.5

Accessibility................................................................................................................................................27 Climate.......................................................................................................................................................27 LocalResources..........................................................................................................................................27 Infrastructure.............................................................................................................................................27 Physiography..............................................................................................................................................29

8 History............................................................................................................................30 8.1 MingMineͲEarlyHistory...........................................................................................................................30

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 8.1.1ConsolidatedRamblerMinesLtd.......................................................................................................30 8.1.2RamblerJointVentureGroup............................................................................................................30 8.1.3MingMineralsInc..............................................................................................................................30 8.1.4AltiusMineralsCorporation...............................................................................................................31 8.1.5RamblerMetalsandMiningPLC........................................................................................................32 8.2 NuggetPond...............................................................................................................................................32 8.3 Goodyear’sCove........................................................................................................................................33

9 GeologicalSetting...........................................................................................................34 9.1 RegionalGeologicalSetting........................................................................................................................34 9.2 PropertyGeology.......................................................................................................................................36 9.3 GeologyattheMingMine.........................................................................................................................38

10 DepositTypes.................................................................................................................40 11 Mineralization................................................................................................................43 12 Exploration.....................................................................................................................45 12.1Historical....................................................................................................................................................45 12.2Future.........................................................................................................................................................52

13 Drilling............................................................................................................................53 13.1 Introduction...............................................................................................................................................53 13.2 DrillingPatternandDensity.......................................................................................................................54

14 Samplingapproachandmethodology............................................................................57 14.1Introduction...............................................................................................................................................57 14.2UnminedAreasandRemnantPillars..........................................................................................................58 14.3 Samplingprotocols.....................................................................................................................................62

15 SamplePreparation,AnalysesandSecurity....................................................................66 15.1SamplePreparationandAnalyses..............................................................................................................66 15.2Qualityassuranceandqualitycontrolprogram.........................................................................................66 15.3Specificgravitydatabase............................................................................................................................70

16 Dataverification.............................................................................................................74 16.1Historicaldataverifications........................................................................................................................74 16.2ControlSamplingAssayprotocols..............................................................................................................75

17 AdjacentProperties........................................................................................................76 18 MineralProcessingandMetallurgicalTesting.................................................................78 18.1 MetallurgicalTestProgram........................................................................................................................78 18.1.1Introduction.....................................................................................................................................78 18.1.2SampleDescription..........................................................................................................................78 18.1.3Mineralogy.......................................................................................................................................79 18.1.4CrushingandGrinding.....................................................................................................................80 18.1.5Flotation...........................................................................................................................................81

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 18.1.6GravityGoldRecovery.....................................................................................................................86 18.1.7FlotationTailingsMineralogy..........................................................................................................87 18.1.8FlotationTailingsGoldCyanideLeachingandOverallGoldRecovery.............................................87 18.1.9DewateringTests.............................................................................................................................89 18.1.10CopperFlotationWastewaterandFlotationTailingsStabilityAnalysis........................................89 18.1.11FlotationTailingsCharacterization...............................................................................................93 18.1.12GoldHydrometWastewaterandTailingsStabilityAnalysis.........................................................95 18.2ProcessDescription....................................................................................................................................96 18.2.1Introduction....................................................................................................................................96 18.2.2OreStorageandCrushing................................................................................................................96 18.2.3Grinding...........................................................................................................................................97 18.2.4Flotation...........................................................................................................................................97 18.2.5ConcentrateDewateringandIntermediateStorage(NuggetPondSite)........................................99 18.2.6ReagentSystems..............................................................................................................................99 18.2.6.1Aerophine3418ACollector...............................................................................................99 18.2.6.2MethylIsobutylCarbinol(MIBC)Frother........................................................................100 18.2.6.3HydratedLimeSlurry......................................................................................................100 18.2.6.4Flocculant........................................................................................................................101 18.2.6.5ZincSulphate...................................................................................................................101 18.2.6.6SodiumCyanide..............................................................................................................102 18.2.6.7SodiumMetabisulphite...................................................................................................102 18.2.6.8CopperSulphate..............................................................................................................103 18.2.7CopperConcentratorTailingsandWastewaterTreatment..........................................................103 18.2.8ExistingGoldHydrometTailingsandWastewaterTreatment......................................................104 18.2.9TailingsPond..................................................................................................................................104 18.3NuggetPondConcentratorProcessControlSystem................................................................................105 18.4LongͲtermConcentrateStorageandBoatLoadingSystem(Goodyear’sCovePortSite)........................105 18.5Goodyear’sCovePortSiteWashWaterSystem......................................................................................106 18.6ProcessDesign.........................................................................................................................................106 18.6.1ProcessDesignCriteria..................................................................................................................106 18.6.2ProcessDesignMassBalance........................................................................................................110

19 MineralResourceandMineralReserveEstimates........................................................111 19.1 Introduction.............................................................................................................................................111 19.2DatabaseValidation.................................................................................................................................112 19.3ResourceEstimation................................................................................................................................112 19.3.1Database........................................................................................................................................112 19.3.2SolidBodyModeling......................................................................................................................113 19.3.3Compositing...................................................................................................................................114 19.3.4GradeCapping...............................................................................................................................116 19.3.5Statistics.........................................................................................................................................117 19.3.6Variography...................................................................................................................................125 19.3.7BlockModelandGradeestimation...............................................................................................127 19.4ModelValidation......................................................................................................................................128

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 19.5MineralResourceClassification...............................................................................................................129 19.6MineralResourceStatementandSensitivityAnalyses............................................................................132 19.7 EstimateofMinableTonnes....................................................................................................................135 19.7.1Introduction...................................................................................................................................135 19.7.2NSRCalculationandEconomicCutoff...........................................................................................135 19.7.3MetalEquivalentCutoffForMiningBlocks...................................................................................136 19.7.4ExternalDilutionandMiningLoss.................................................................................................136 19.7.5SummaryofMinableTonnes.........................................................................................................136

21 InterpretationandConclusions....................................................................................137 21.1 Opportunities...........................................................................................................................................137 21.1.1MillGrinding..................................................................................................................................137 21.1.2GoldRecovery................................................................................................................................137 21.1.3MineralizedZonesOpeninMultipleDirections............................................................................137 21.1.4InferredResource..........................................................................................................................137 21.1.5IndicatedLowerFootwallResource...............................................................................................138 21.1.6OperatingaMultiplePurposeMill................................................................................................138 21.1.7Qualificationfor“EDGE”Status.....................................................................................................138 21.1.8Exploration–TITANGeophysicsResults.......................................................................................139 21.1.9UnͲminedAreaandPillars.............................................................................................................139 21.1.10ReͲactivationofHistoricalPortatTiltCove.................................................................................139 21.2 Risks.........................................................................................................................................................139 21.2.1ProjectFinancing...........................................................................................................................139 21.2.2InferredandUnclassifiedMineralization.......................................................................................139 21.2.3Environmental...............................................................................................................................139 21.2.4GeotechnicalData..........................................................................................................................140

22 Recommendations........................................................................................................141 23 References....................................................................................................................143 24 DateandSignaturePage...............................................................................................147 24.1DateandSignaturePage..........................................................................................................................147 24.2CertificatesofQualifiedPersons..............................................................................................................149 24.1.1Stantec...........................................................................................................................................149 24.2.2BarbourGeoͲConsulting................................................................................................................151 24.2.3ThibaultandAssociatesInc............................................................................................................152 24.2.4NovaportInternationalConsultantsLimited/ADILimited...........................................................153

25 AdditionalRequirements..............................................................................................154 25.1 MiningMethods.......................................................................................................................................154 25.1.1GeotechnicalConsiderations.........................................................................................................154 25.1.1.1ExistingExcavations–MingMassives.............................................................................154 25.1.1.21807OreZone.................................................................................................................157 25.1.1.31806OreZone.................................................................................................................158 25.1.1.4MingSouthDownPlunge(MSDP)...................................................................................158

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 25.1.1.5MingSouthUpPlunge(MSUP).......................................................................................158 25.1.1.6PlannedGroundSupport................................................................................................158 25.1.2SelectionoftheMiningMethod...................................................................................................163 25.1.2.1LongholeMiningMethod................................................................................................163 25.2 UndergroundMineModel.......................................................................................................................167 25.2.1 ModelDescription......................................................................................................................167 25.2.1.1UndergroundMineAccess..............................................................................................169 25.2.1.2StopeAccess...................................................................................................................170 25.2.2 LifeofMinePlanDevelopmentRequirements...........................................................................170 25.2.2.1LifeofMinePlanDevelopmentSummaries....................................................................170 25.3MineProductionSchedule.......................................................................................................................170 25.3.1Introduction...................................................................................................................................170 25.3.2Preproduction................................................................................................................................171 25.3.3MineProductionRate....................................................................................................................171 25.3.4ProductionSchedule......................................................................................................................171 25.4UndergroundMinePlan...........................................................................................................................172 25.4.1ScheduledMineProductivities......................................................................................................172 25.4.2MiningEquipment.........................................................................................................................172 25.4.3MineManpower............................................................................................................................174 25.4.4MiningSupportServices................................................................................................................175 25.4.4.1OreandWasteHandling.................................................................................................175 25.4.4.2ProductionShaft.............................................................................................................175 25.4.4.3Ventilation.......................................................................................................................175 25.4.4.4CompressedAirandWaterSupply.................................................................................176 25.4.4.5MineDewatering............................................................................................................177 25.4.4.6MineElectricalDistribution.............................................................................................177 25.4.4.7DieselFuelSupplyandStorage.......................................................................................178 25.4.4.8ExplosivesSupplyandStorage........................................................................................178 25.4.4.9UndergroundEquipmentMaintenance..........................................................................178 25.4.4.10Communications...........................................................................................................178 25.4.4.11Consumables.................................................................................................................179 25.5AlternativeMiningMethods....................................................................................................................179 25.6SiteLayoutandInfrastructure.................................................................................................................180 25.6.1SitePlanView................................................................................................................................180 25.6.1.1MineSite.........................................................................................................................180 25.6.1.2OreProcessingSite.........................................................................................................180 25.6.1.3ConcentrateShippingSite...............................................................................................180 25.6.2 MingMineSiteInfrastructure....................................................................................................181 25.6.2.1SiteRoads,Parking,YardAreasandDrainage................................................................181 25.6.2.2NewMaintenanceBuilding.............................................................................................182 25.6.2.3NewMineDryandOfficeBuilding..................................................................................183 25.6.2.4ExistingBuildingsandFacilities.......................................................................................183 25.6.2.5Security/GateHouse/Scale/ScaleHouse...................................................................184

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 25.6.2.6DomesticSewage............................................................................................................184 25.6.2.7WaterSupply–General..................................................................................................185 25.6.2.8ProcessandMineWaterSupply.....................................................................................185 25.6.2.9PotableWaterSupply.....................................................................................................185 25.6.2.10GeneralSiteWaterManagement.................................................................................185 25.6.2.11FreshWaterStorageandDistribution..........................................................................185 25.6.2.12FireProtection..............................................................................................................186 25.6.2.13EmergencyPowerSupply..............................................................................................187 25.6.3NuggetPondOreProcessingSiteInfrastructure...........................................................................187 25.6.3.1SiteRoads,YardAreasandDrainage..............................................................................187 25.6.3.2ConcentratorBuilding.....................................................................................................187 25.6.3.3ExistingBuildingsandFacilities.......................................................................................188 25.6.3.4ProposedSiteServices....................................................................................................189 25.6.4 Goodyear’sCoveConcentrateShippingSiteInfrastructure.......................................................190 25.6.4.1SiteRoads,YardAreasandDrainage..............................................................................190 25.6.4.2ConcentrateStorageBuilding.........................................................................................190 25.6.4.3Existing/ProposedFacilitiesandServices........................................................................191 25.7 EnvironmentalAspects............................................................................................................................192 25.7.1 EnvironmentalBackground........................................................................................................192 25.7.1.1ExistingBaselineInformation..........................................................................................193 25.7.2 MajorIssues................................................................................................................................196 25.7.2.1TailingsDisposal..............................................................................................................196 25.7.2.2WasteRockDisposal/AcidRockDrainage.....................................................................197 25.7.2.3SiteDrainage...................................................................................................................198 25.7.2.4GeneralWasteDisposal..................................................................................................198 25.7.2.5WaterSupply...................................................................................................................199 25.7.2.6EmergencyResponsePlan..............................................................................................200 25.7.2.7EnvironmentalProtection...............................................................................................200 25.7.2.8WasteManagementPlan................................................................................................200 25.7.2.9EnvironmentalEffectsMonitoring..................................................................................200 25.7.3 BaselineStudiesRequired..........................................................................................................200 25.7.4 RegulatoryProcesses..................................................................................................................200 25.7.4.1FederalEnvironmentalAssessmentProcess...................................................................200 25.7.4.2ProvincialEnvironmentalAssessmentProcess...............................................................201 25.7.4.3FederalandProvincialPermits,ApprovalsandAuthorizations......................................202 25.7.5 FederalAuthorizations...............................................................................................................204 25.7.5.1FisheriesandOceansCanada..........................................................................................204 25.7.5.2TransportCanada............................................................................................................204 25.7.5.3EnvironmentCanada.......................................................................................................204 25.7.6 ProvincialAuthorizations............................................................................................................204 25.7.6.1DepartmentofEnvironmentandConservation..............................................................205 25.7.6.2DepartmentofNaturalResources..................................................................................205 25.7.6.3MunicipalAuthorizations................................................................................................205 25.7.7 SiteRehabilitationandClosure..................................................................................................205 25.7.7.1MingMine.......................................................................................................................206

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 25.7.7.2NuggetPond....................................................................................................................206 25.7.7.3Goodyear’sCove.............................................................................................................206 25.7.8 SocioͲEconomicIssues................................................................................................................206 25.7.8.1Employment....................................................................................................................206 25.7.8.2Training...........................................................................................................................212 25.7.8.3GenderEquity.................................................................................................................212 25.7.8.4EconomicImpact.............................................................................................................212 25.7.8.5PurchasingPolicies..........................................................................................................212 25.7.8.6PublicInformationandConsultations.............................................................................213 25.8 ProjectSchedule.......................................................................................................................................214 25.8.1 ProjectGanttChart.....................................................................................................................214 25.9 OperatingCosts........................................................................................................................................215 25.9.1 ProjectOperatingCostSummary...............................................................................................215 25.9.2 UndergroundMineOperatingCost............................................................................................215 25.9.3GeneralandAdministrationCosts.................................................................................................216 25.9.4MineralProcessingOperatingCostEstimate................................................................................218 25.9.4.1EstimateBasis.................................................................................................................218 25.9.4.2MineralProcessingOperatingCostforCopperFlotationConcentratorandConcentrate StorageFacility..............................................................................................................................222 25.9.4.3 Mineral Processing Operating Cost for Integrated Copper Flotation Concentrator and GoldHydrometSystem.................................................................................................................223 25.9.5.4PortOperationsandTransportation...............................................................................223 25.9.5.5Royalties..........................................................................................................................223 25.9.5.6TreatmentandRefiningCharges.....................................................................................224 25.10CapitalCosts............................................................................................................................................225 25.10.1Introduction.................................................................................................................................225 25.10.2NuggetPondCapitalSummary....................................................................................................226 25.10.3MingMineSurfaceCapitalSummary..........................................................................................228 25.10.4Goodyear’sCoveCapitalSummary..............................................................................................230 25.10.5UndergroundCapitalCostSummary...........................................................................................231 25.10.6SummaryofMiningActivities......................................................................................................233 25.10.7Process,MechanicalandElectricalCapitalCostEstimate(ThibaultandAssociatesInc.)...........234 25.10.7.1EstimateScope..............................................................................................................234 25.10.7.2EstimateBasis..............................................................................................................237 25.10.7.3 Direct Capital Costs for Process, Mechanical and Electrical Installation of Copper FlotationConcentratoratNuggetPondSite.................................................................................242 25.10.7.4 Direct Capital Costs for Process, Mechanical and Electrical Refurbishment of Existing GrindingCircuitatNuggetPondSite............................................................................................244 25.10.7.5 Direct Capital Costs for Process, Mechanical and Electrical Refurbishment of Existing GoldHydrometandHydrometTailingsTreatmentCircuitsatNuggetPondSite.........................244 25.10.7.6 Direct Capital Costs for Process, Mechanical and Electrical Installation at Goodyear's CovePortSite................................................................................................................................245 25.10.7.7DirectCapitalCostsforElectricalInstallationatMing'sBightRoadMineSite.............246

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 25.10.7.8 Indirect Capital Costs for Process, Mechanical and Electrical Installation of Copper FlotationConcentratoratNuggetPondSite.................................................................................246 25.10.7.9 Indirect Capital Costs for Process, Mechanical and Electrical Installation of RefurbishmentofExistingGrinding,GoldHydrometandHydrometTailingsTreatmentatNugget PondSite.......................................................................................................................................247 25.10.7.10IndirectCapitalCostsforProcess,MechanicalandElectricalInstallationatGoodyear's CovePortSite................................................................................................................................247 25.10.7.11IndirectCapitalCostsforElectricalInstallationatMing'sBightRoadMineSite........248 25.10.8CivilandStructuralCapitalCostEstimate(ADILimited)..............................................................249 25.10.8.1NewConcentratorBuilding...........................................................................................249 25.10.8.2MingMineSite..............................................................................................................250 25.10.8.3ConcentrateStorageBuilding.......................................................................................251 25.11EconomicAssessment.............................................................................................................................253 25.11.1Introduction.................................................................................................................................253 25.11.2FinancialModelIndicativeResults...................................................................................257 25.11.3Sensitivities..................................................................................................................................257 25.11.3.1AnalysisandResults......................................................................................................257 25.11.4Conclusion...................................................................................................................................258  



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ListofTables TableI:CombinedMingMineMineralResourceStatement,August9,2010..............................................................II TableII:MingMineMineralReserveStatement,August9,2010................................................................................III FigureII:Unminedorezonesbelowthe2200levelwithrespecttoundergroundmineworkingsandmassive sulphideorezones...............................................................................................................................................V TableIII:TonnesandGradeofOreMined...................................................................................................................V TableIV:ConcentrateProducedofOreMined...........................................................................................................VI TableVHeadAssayDataforTestProgramMetallurgicalSamples............................................................................VII TableVI:DesignCriteriaͲOreCharacteristics,ConcentratorThroughputandOverallRecovery...............................IX TableVII:ProjectOperatingCostSummary..................................................................................................................X TableVIII:PreͲProductionProjectCostSummary.........................................................................................................X TableIV:ProjectEconomics.........................................................................................................................................XI TableV:SummaryofEconomicParameters................................................................................................................XI Table6Ͳ1:MinerallicensedetailsfortheRamblerProperty.......................................................................................25 Table9Ͳ1:DeformationphasesintheRamblerArea(TuachandKennedy,1978).....................................................37 Table13Ͳ1:AtabulationofdiamonddrillingactivitiesconductedattheMingMine.Summaryofallexploration drillingontheMingMine(1977Ͳ2009):..............................................................................................................54 Table14Ͳ1:IndicatedresourceforunminedareasandinferredresourceofremnantpillarareasoftheMingMine ............................................................................................................................................................................61 Table14Ͳ2:StatisticsofthesampledrillinglengthsfromwithinthesixmodeledzonesattheMingMine...............62 Table15Ͳ1:ExternalstandardsusedbyRamblerattheMingExplorationProgram..................................................67 Table15Ͳ2:Statisticsofthespecificgravitydatabaseforvariousmodeledorezones...............................................70 Table18Ͳ1:HeadAssayDataforTestProgramMetallurgicalSamples.......................................................................78 Table18Ͳ2:TraceElementAnalysisforCompositeMetallurgicalSample..................................................................79 Table18Ͳ3:CrushingandGrindingParametersForRamblerMetallurgicalSamples..................................................80 Table18Ͳ4:AverageProductAssaysandWeightDistributionForLockedCycles3Through6...................................83 Table18Ͳ5:FinalConcentrateAnalysisFromCycle6ofLockedCycleTest.................................................................84 Table18Ͳ6:Predictedgoldrecoveryinflotation,goldhydrometcircuitandoverall..................................................89 Table18Ͳ7:ResultsofInorganicChemistryAnalysisforLockedCycleFlotationTailingsWater.................................90 Table18Ͳ8:ResultsofTraceMetalsAnalysisforLockedCycleFlotationTailingsWater............................................91 Table18Ͳ9:ResultsofRadiologicalAnalysisforLockedCycleFlotationTailingsWater..............................................92 Table18Ͳ10:ResultsofThiosaltAnalysisfor100%TailingsWaterfromLockedCycleFlotationTest........................92 Table18Ͳ11:ResultsofModifiedAcidBaseAccountingforLockedCycleFlotationTailings......................................93 Table18Ͳ12:ResultsofLeachateTraceMetalsAnalysisforStandardTCLPandCustomLeachProcedureonLocked CycleFlotationTailings.......................................................................................................................................94 Table18Ͳ13DesignCriteriaͲOreCharacteristics,ConcentratorThroughputandOverallRecovery........................107 Table18Ͳ14:DesignCriteriaͲGrindingCircuit..........................................................................................................107 Table18Ͳ15:DesignCriteriaͲFlotationandConcentrateHandlingCircuit...............................................................108 Table18Ͳ16:DesignCriteria–GoldCyanideLeaching..............................................................................................109 Table19Ͳ1:Gradecappingappliedtothecompositedassaydatabasepermodeledzone......................................116 Table19Ͳ2:AtabulationofcompositedstatisticsforcopperandgoldwithinthesevenmodeledzonesattheMing Mine..................................................................................................................................................................118 Table19Ͳ2:AtabulationofcompositedstatisticsforcopperandgoldwithinthesevenmodeledzonesattheMing Mine(con’t)......................................................................................................................................................119

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 Table19Ͳ2:AtabulationofcompositedstatisticsforcopperandgoldwithinthesevenmodeledzonesattheMing Mine(con’t)......................................................................................................................................................120 Table19Ͳ3:Variogramrangesforcopper,gold,silverandzincfromallmodeledzonesasdefinedbySRK(2009).126 Table19Ͳ4:ParametersoftheRamblerBlockModeldefinedbySRK(2009)...........................................................128 Table19Ͳ5:SummaryofclassificationsearchparameterrangesforeachmodeledoretypeattheMingMine.....130 Table19Ͳ5:SummaryofclassificationsearchparameterrangesforeachmodeledoretypeattheMingMine. (con’t)................................................................................................................................................................131 Table19Ͳ6:CombinedMingMineMineralResourceStatement,August9,2010....................................................132 Table19Ͳ7:MingMineMineralResourceStatement,August9,2010......................................................................133 Table19Ͳ8:ParametersforNSRCalculation..............................................................................................................135 Table19Ͳ9:CalculatedBaseandPreciousMetalsPriceAssumptions.......................................................................136 Table19Ͳ7:MingMineMineralReserveStatement,August9,2010........................................................................136 Table21Ͳ1:EconomicComparisonofOpportunities.................................................................................................138 Table25Ͳ2Ͳ1:DevelopmentSummary.......................................................................................................................170 Table25Ͳ3Ͳ1:ProductionMuckingSchedule.............................................................................................................171 Table25Ͳ4Ͳ1:ScheduledUnitProductivities.............................................................................................................172 Table25Ͳ4Ͳ2:MobileMiningFleet............................................................................................................................173 Table25Ͳ4Ͳ3:DirectUndergroundManpoweratFullProduction............................................................................174 Table25Ͳ4Ͳ4:EstimatedVentilationRequirements..................................................................................................175 Table25Ͳ4Ͳ5:CompressedAirRequirements............................................................................................................176 Table25Ͳ4Ͳ6:MineWaterConsumption...................................................................................................................177 Table25Ͳ4Ͳ7:EstimatedElectricalPowerConsumption...........................................................................................178 Table25Ͳ7Ͳ1:PermitsandAuthorizationsCurrentlyinPlace....................................................................................202 Table25Ͳ7Ͳ2:AdditionalPermits&AuthorizationsRequiredfortheProject...........................................................203 Table25Ͳ7Ͳ3:ContractedLabourrequiredattheMineduringConstruction...........................................................207 Table25Ͳ7Ͳ4:LabourRequiredattheMineduringOperations................................................................................207 Table25Ͳ7Ͳ5ContractedLabourrequiredatNuggetPondduringConstruction......................................................209 Table25Ͳ7Ͳ6:LabourrequiredattheNuggetPondMillduringProduction..............................................................210 Table25Ͳ7Ͳ7:ContractedLabourrequiredatGoodyear’sCoveduringConstructionandOperations.....................211 Table25Ͳ7Ͳ8:GeneralandAdministrationManpower..............................................................................................211 Table25Ͳ9Ͳ1:ProjectOperatingCostSummary........................................................................................................215 Table25Ͳ9Ͳ2:UndergroundOperatingCostSummary($CAD)..................................................................................216 Table25Ͳ9Ͳ3:GeneralandAdministrationManpower..............................................................................................217 Table25Ͳ9Ͳ4:ReagentBudgetaryCostsFOBNuggetPondSite................................................................................219 Table25Ͳ9Ͳ5:NewfoundlandPowerInc.ElectricityRatesEffectiveJanuary1,2010...............................................220 Table25Ͳ9Ͳ6:NumberofEmployeesRequiredforNuggetPondMineralProcessingPlantOperation....................220 Table25Ͳ9Ͳ7:MineralProcessingOperatingCostEstimateSummaryforCopperFlotationConcentrator..............222 Table25Ͳ9Ͳ8:MineralProcessingOperatingCostEstimateSummaryforIntegratedCopperFlotationConcentrator, ConcentrateStorageFacilityandGoldHydrometSystem................................................................................223 Table25Ͳ9Ͳ9:RoyaltiesontheMingMine................................................................................................................224 Table25Ͳ10Ͳ1:PreͲproductionCapitalCostSummary..............................................................................................225 Table25Ͳ10Ͳ2:MillCapitalExpenditureSummary....................................................................................................226 Table25Ͳ10Ͳ3:Mine(Surface)CapitalExpenditureSummary..................................................................................228 Table25Ͳ10Ͳ4:PortCapitalExpenditureSummary...................................................................................................230 Table25Ͳ10Ͳ5:UndergroundCapitalandSustainingCostSummary........................................................................232 Table25Ͳ10Ͳ6:DevelopmentandConstructionCostSummary................................................................................232

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 Table25Ͳ10Ͳ7:TonnesandGradeofOreMined.......................................................................................................233 Table25Ͳ10Ͳ8:ConcentrateProducedofOreMined................................................................................................233 Table25Ͳ10Ͳ9:UnionTradespersonBudgetFieldLabourRatesfor2010.................................................................240 Table25Ͳ10Ͳ10:EquipmentRentalRates..................................................................................................................240 Table25Ͳ10Ͳ11:SummaryofDirectProcess,MechanicalandElectricalInstalledCapitalCostEstimateforCopper FlotationConcentratoratNuggetPondSite.....................................................................................................243 Table25Ͳ10Ͳ12:ProcessEquipmentProcurementandInstallationCostEstimateforCopperFlotationConcentrator atNuggetPondSite..........................................................................................................................................243 Table25Ͳ10Ͳ13:SummaryofDirectProcess,MechanicalandElectricalInstalledCapitalCostEstimatefor RefurbishmentofExistingGrindingCircuitatNuggetPondSite......................................................................244 Table25Ͳ10Ͳ14:ProcessEquipmentProcurementandInstallationCostEstimate–RefurbishmentofExisting GrindingCircuitatNuggetPondSite................................................................................................................244 Table25Ͳ10Ͳ15:SummaryofDirectProcess,MechanicalandElectricalInstalledCapitalCostEstimatefor RefurbishmentofExistingGoldHydrometandHydrometTailingsTreatmentatNuggetPondSite...............245 Table25Ͳ10Ͳ16:SummaryofDirectProcess,MechanicalandElectricalInstallationCapitalCostEstimatefor Goodyear'sCovePortSite................................................................................................................................245 Table25Ͳ10Ͳ17:ProcessEquipmentProcurementandInstallationCostEstimateͲGoodyear'sCovePortSite......246 Table25Ͳ10Ͳ18:ElectricalDirectCapitalCostEstimateforMing'sBightRoadMineSite.........................................246 Table25Ͳ10Ͳ19:Process,MechanicalandElectricalIndirectCostEstimateSummaryforCopperFlotation ConcentratoratNuggetPondSite....................................................................................................................246 Table25Ͳ10Ͳ20:Process,MechanicalandElectricalIndirectCostEstimateSummaryforGoodyear'sCovePortSite ..........................................................................................................................................................................247 Table25Ͳ10Ͳ21:Process,MechanicalandElectricalIndirectCostEstimateSummaryfor........................................247 Table25Ͳ10Ͳ22:ElectricalIndirectCostEstimateSummaryforMing'sBightRoadMineSite..................................248 Table25Ͳ10Ͳ23:ConstructioncostforSiteworkattheNewConcentratorBuilding................................................249 Table25Ͳ10Ͳ24:ConstructioncostforNewConcentratorBuilding..........................................................................249 Table25Ͳ10Ͳ25:ConstructioncostforSiteworkattheMineSite............................................................................250 Table25Ͳ10Ͳ26:ConstructioncostforMineMaintenanceBuilding..........................................................................251 Table25Ͳ10Ͳ27:ConstructioncostforSiteworkatGoodyear’sCove.......................................................................251 Table25Ͳ10Ͳ28:ConstructioncostforConcentrateStorageBuilding.......................................................................252 Table25Ͳ11Ͳ1:IndicativeEconomicViability.............................................................................................................254 Table25Ͳ11Ͳ1:IndicativeEconomicViability(con’t).................................................................................................255 Table25Ͳ11Ͳ1:IndicativeEconomicViability(con’t).................................................................................................256 Table25Ͳ11Ͳ2:SummaryofCashFlowSensitivityResults........................................................................................257

 ListofFigures FigureI:IsometricViewFiveMiningZones.................................................................................................................IV FigureII:ProjectSchedule...........................................................................................................................................VI FigureIII:LockedCycleFlotationTestBlockDiagram...............................................................................................VIII Figure6Ͳ1:LocationofRamblerProjectareanearBaieVerte,Newfoundland,Canada............................................22 Figure6Ͳ2:MingMinesiteinfrastructureinrelationtothevariousMingMiningZones...........................................23 Figure6Ͳ3:RamblerProperty:Mineraltenureandmapstakedclaims......................................................................24 Figure6Ͳ4:Existingmineworkings–3DviewlookingsouthupͲdip...........................................................................26

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 Figure9Ͳ1:RegionalgeologyofNewfoundlandhighlightingthevarioustectonostratigraphiczonationsinrelationto theMingCopperͲGoldMineProperty................................................................................................................35 Figure9Ͳ2:LocalgeologysurroundingtheMingMineCopperͲGoldPropertyillustratingotherdepositsinthe immediatevicinity..............................................................................................................................................39 Figure10Ͳ1:AschematicillustrationofgeologicalsettingandhydrothermalalterationassociatedwithgoldͲrich highsulphidationhydrothermalsystemswithsuggestedRamblersetting(Hanningtonetal1999).................41 Figure10Ͳ2:Grade(gold)–TonnageplotofallCanadianAuͲVMSdeposits(includingtheRamblerdeposits)and variousinternationalworldclassdeposits(numbersincludeproduction,reservesandresources)(Dubeetal, 2000)...................................................................................................................................................................42 Figure11Ͳ1:MassivepyriteandpyrrhotitewithminorchalcopyriteorefromdrillholeRM06Ͳ04e..........................44 Figure11Ͳ2:DisseminatedandstringerchalcopyriteandminorpyritewithintheLowerFootwallZone(LFZ)from drillholeRM07Ͳ08f..............................................................................................................................................44 Figure12Ͳ1:UndergrounddrillingattheMingMine..................................................................................................47 Figure12Ͳ2:2008Titan24geophysicalsurveylines...................................................................................................49 Figure12Ͳ3:2008Titan24AnomalyA18Ͳ1.................................................................................................................49 Figure12Ͳ4:Locationof2009DiamondDrillholesRM09Ͳ22andRM09Ͳ23................................................................50 Figure12Ͳ5:MiraGeoscience3DInversionresultsͲconductivitymodelwithnearsurfacesmallbodiesremoved.This viewlooksdowntheplungeoftheMingMine..................................................................................................51 Figure12Ͳ6:MiraGeoscience3DInversionresultsͲchargeabilitymodelalongstrikeofRamblermineralization.....51 Figure13Ͳ1:SectionlookingwestshowingdrillingattheMingMinefrom2003Ͳ2008............................................55 Figure13Ͳ2:AplanshowingthetotalMingdrillholedatabaseinrelationtothemaindecline.................................56 Figure14Ͳ1:Representationofchip/channelsamplingatMingMine........................................................................58 Figure14Ͳ2:Historicalundergroundmapplans(overlay)showingremainingpillarsandunminedareasbetween 1805leveland2600level,MingMine................................................................................................................59 Figure14Ͳ3:3Dviewofunminedareasandremainingpillarsfrom2200levelto2600Lwithrespecttounderground mineworkings.....................................................................................................................................................59 Figure14Ͳ4a)Histogramofsampledlengthsfromwithinthea)LFZandb)UFZ........................................................63 Figure14Ͳ4b)Histogramofsampledlengthsfromwithinthea)MingSouthUpPlungeandb)MingSouthDown Plunge.................................................................................................................................................................64 Figure14Ͳ4c)Histogramofsampledlengthsfromwithinthea)1806Zoneandb)1807Zone..................................65 Figure15Ͳ1:AcomparisonofActLabsandEasterncopperandgoldgradesfor11,357samples...............................69 Figure15Ͳ2a:Histogramsofspecificgravitydataforthea)UFZsamples,b)LFZsamples.........................................71 Figure15Ͳ2b:Histogramsofspecificgravitydataforthea)MingSouthUpPlungesamples,b)MingSouthDown Plungesamples...................................................................................................................................................72 Figure15Ͳ2c:Histogramsofspecificgravitydataforthea)1807Zonesamples,b)1806Zonesamples...................73 Figure17Ͳ1:MineralShowingsandDepositsintheVicinityoftheMingMine..........................................................77 Figure18Ͳ1:LockedCycleFlotationTestBlockDiagram.............................................................................................82 Figure18Ͳ2:PredictedOverallConcentratorCopperRecoverywithVaryingCopperHeadGrade............................85 Figure18Ͳ3:GoldRecoveryRelativetoRecoveryofCoppertoConcentrate..............................................................86 Figure18Ͳ4:CyanideLeachKineticsforLeachingofLockedCycleTestFlotationTailings..........................................88 Figure19Ͳ1:Sectionalviewofthevarious3DmodeledzonesattheMingMine.....................................................114 Figure19Ͳ2:Histogramsshowingoriginalsamplelengthsofdatawithinthe1807Zone,1806Zone,MingSouth DownPlungeZoneandMingNorthDownPlungeZone..................................................................................115 Figure19Ͳ3:HistogramsshowingoriginalsamplelengthsofdatawithintheMingSouthUpPlunge,UpperFootwall ZoneandLowerFootwallZone.........................................................................................................................115

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 Figure19Ͳ4:Logprobabilityplotforcoppergradeswithinaggregatedmassivesulphidezones(MS)(FromSRK, 2009).................................................................................................................................................................116 Figure19Ͳ5:Logprobabilityplotforgoldgradeswithinaggregatedmassivesulphidezones(MS)(FromSRK,2009). ..........................................................................................................................................................................117 Figure19Ͳ6:Histogramsforcompositedandcappedcopperandgoldgradesinthe1807Zoneandcompositedand cappedcoppergradesinthe1806Zone...........................................................................................................121 Figure19Ͳ7:Histogramsforcompositedandcappedgoldgradesinthe1806Zoneandcompositedandcapped copperandgoldgradesintheMingSouthDownPlungeZone........................................................................122 Figure19Ͳ8:HistogramsforcompositedandcappedcoppergoldgradesintheMingSouthUpPlungeZoneand compositedandcappedgoldgradesintheUpperFootwallZone...................................................................123 Figure19Ͳ9:HistogramsforcompositedandcappedgoldgradesintheUpperFootwallZoneandcompositedand cappedcopperandgoldgradesintheLowerFootwallZone...........................................................................124 Figure19Ͳ10:HistogramsforcompositedandcappedcopperandgoldgradesintheMingNorthDownPlunge Zone..................................................................................................................................................................125 Figure19Ͳ11:FittedmodeltoaGaussiananisotropicvariogramofgold,Mingmassives,MingMine.....................127 Figure19Ͳ12:FittedmodeltoaGaussiananisotropicvariogramofcopper,Mingmassives,MingMine................127 Figure19Ͳ13:TherelationshipbetweentheLowerFootwallZone(LFWZ)blockmodelandcrosscuttingmafic dykes.................................................................................................................................................................129 Figure25Ͳ1Ͳ1:PlanViewofexistingminingopenings..............................................................................................155 Figure25Ͳ1Ͳ2:MingWestMineStopesViewedfromOpenPit................................................................................156 Figure25Ͳ1Ͳ3:MingWestStopeHangingWalls........................................................................................................156 Figure25Ͳ1Ͳ4:IsometricViewsoftheMingMine.....................................................................................................157 Figure25Ͳ1Ͳ5:StandardPrimaryandSecondaryGroundSupport............................................................................160 Figure25Ͳ1Ͳ6:PlanViewofScreenandBoltpattern................................................................................................161 Figure25Ͳ1Ͳ7:TypicalhangingwallgroundsupportorientationsusingSuperSwellex............................................162 Figure25Ͳ1Ͳ8:BackfillCrossSection..........................................................................................................................163 Figure25Ͳ1Ͳ9:TypicalupͲholedrillpatternin1807ZoneͲ460StopingBlock.........................................................164 Figure25Ͳ1Ͳ10:TypicalUpandDownͲHolecombinationin1807ZoneͲ434StopingBlock....................................165 Figure25Ͳ1Ͳ11:DownHoleDrillPatterninanarrowsectionof1807ZoneͲ361StopingBlock..............................165 Figure.25Ͳ1Ͳ12:TypicalStopeinsectionsof1806Zonewithorethickness>15m..................................................166 Figure25Ͳ1Ͳ13:GeneralLongholeSequencing..........................................................................................................167 Figure25Ͳ2Ͳ1:Viewof3DWireMeshModel............................................................................................................168 Figure25Ͳ2Ͳ2:IsometricViewoftheLifeofMineDevelopmentPlanning...............................................................169 Figure25Ͳ4Ͳ1:GeneralUndergroundAirFlowSchematic.........................................................................................176 Figure25Ͳ11Ͳ1:SensitivityChartforDiscountedBeforeͲtaxCashFlow....................................................................258

 ListofAppendices Appendix1–ResourceInformation Appendix2–SitePlans Appendix3–SupportingUndergroundInformation Appendix4–SupportingConcentratorInformation Appendix5–SupportingPortInformation Appendix6–GeneralInformation

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4

Introduction

4.1

Introduction Rambler Metals and Mining PLC (‘Rambler’ or ‘RMM’) is a company that formed in April 2004 and is currently listed on the Alternate Investment Market (AIM) of the London Stock Exchange under the symbolRMMaswellasontheTorontoVentureExchange(TSXͲV)underthesymbolRAB.Thecompany wasestablishedtoinvestinthebasemetalsectorinpoliticallystablejurisdictions.Itsprincipalprojectis the Ming Mine CopperͲGold Property, located on the Baie Verte Peninsula of Newfoundland and Labrador,Canada.  TheMingProperty(‘minesite’)containstheformerproducingMingandMingWestcopperͲgoldmines. TheMingMineitselflastoperatedin1982andtheMingWestMinein1996.MiningoftheMingMine ceased when the workings reached a neighboring property boundary.  Rambler Metals and Mining acquiredthepropertyin2005afterithadbeensuccessfullyconsolidated.  The company has undertaken the necessary engineering studies to evaluate the feasibility of reͲ establishing a mining operation for the Ming Mine.  Exploration drilling (surface and underground) has testedmultiplezonesofCuͲAumineralizationdownplungeandalongstrikeoftheformerorebodiesand subsequentlyconfirmedthatsignificantmineralizedextensionsexist.Anevaluationoforiginaldocuments for the Ming Mine has also determined that an unmined resource exists below the 2200 level as an addition to remnant pillars from surface to the 1985 level.  Detailed engineering work on the ore metallurgyandminedevelopmenthasdemonstratedaneconomicallyviableoperationovertheinitial6 years.  ThecompanyhasalsorecentlypurchasedtheNuggetPondgoldprocessingfacility(‘millsite’)locatedjust 40 km’s from the Ming Mine.  The gold concentrator will be adapted to process base metals sulphides from the Ming Mine through the addition of a copper flotation circuit as well as processing tailings through the existing gold hydromet for improved gold recovery.  The modification will diversify the existing facility and allow for a range of processing capabilities.  The acquisition of a fully operational, permitted,goldhydrometallurgicalmillalsoprovidesanoptiontoprocessotherorethroughtollmilling contracts.TheseagreementscouldextendthelifeofminewellbeyondtheexistingresourcesoftheMing Mine.  AllworkhasbeencompletedtoNI43Ͳ101standardsatafeasibilitylevel.Allinformationcontainedwithin hasbeencompiledbyindependentconsultingfirmsforinclusioninthisreport.

4.2

BackgroundoftheProject AnumberoftechnicalreportshavebeengeneratedfortheMingMineProperty.  InMarch2005RoscoePostleAssociatesInc(RPA)completedatechnicalreportontheRamblerProperty forthepurposeofRamblerobtainingalistingonLondon’sAIM. 

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 SRKConsultingCanadaInc(SRK)wascommissionedbyRamblerinJune2006forarecommendationofan explorationmethodologytoachieveaNI43Ͳ101compliantresourceatthesurroundsoftheformerMing Mine.  Rambler also requested that SRK recommend drill spacing for deposit delineation (from surface andunderground).  ScottWilsonRPAwasretainedbyRamblerinOctober2006tocompileanupdatedtechnicalreportforthe Rambler Property in support of an application for a listing on the TSXͲV exchange.  Neither of the RPA technicalreportsincludedNI43Ͳ101compliantresourceestimations.  In August 2007 Rambler commissioned SRK to author an Internal Scoping Study compiled by a multiͲ disciplinaryteamfortheRamblerproject.ThisScopingStudyreportwasintendedforinternalcompany usetomakeprojectdecisionsconcerningfurtherdevelopmentoftheproperty.Thisreportwasinclusive ofresourceestimationbutwasnonNI43Ͳ101compliantandnotsuitableforpublicdisclosure.ThemultiͲ disciplinarycontributionstothisScopingStudywerepreparedbythefollowingcompanies/consultants:

•SRKConsultingCanadaInc •TESCMiningServicesInc •SNCLavalinEngineers&ConstructorsInc •Thibault&AssociatesInc •SGSLakefieldResearchLtd •RamblerMetals&MiningCanadaLtd   During March 2008, SRK was commissioned by Rambler to prepare a NI 43Ͳ101 compliant resource estimatedfortheRamblerprojectwhichappliedexplorationdatafromsurfaceandundergroundsources availableasofMarch31,2008.  During June 2008, Thibault & Associates Inc were commissioned by Rambler to identify a commercially viableconcentratorflowsheet,reagentschemeanddesignbasisforprocessequipmentsizingasrequired fordefinitivedesignofacopperflotationcircuitproposedfortheRamblerproperty.  QuantecGeoscienceLtdwasretainedbyRamblerinJuly2008toperformaTitanͲ24geophysicalsurveyto aid in the Rambler property exploration program.  The intent of the Titan DCIP and MT survey was to providesubͲsurfaceresistivityandchargeabilitymappingalongstrikeanddownplungeofthehistorically producingMingOreBodies.  In August 2008 AMEC was commissioned to evaluate two potential tailings disposal options and survey eachoftheseareasforexistingfishandfishhabitat.  InNovemberof2008ChaleurShotcreteInc.(CSI)werecommissionedtoprovideaLifeofMinePlanon theminingofthehighgradezonesoftheMingMineataproductionrateof850metrictonnesperday (mtpd).  Dr. Stephen J. Piercey Geological Consulting was contracted by Rambler in December 2008 to visit the propertyandevaluatedrillcorefromtherecentlydiscoveredgoldrich1806Zone.Aspartofthiswork detailedmineralogicaldescriptionswerecompletedonselectthinsectionsfromthecore.Thepurposeof

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 this visit was to evaluate massive sulphides from the 1806 Zone to determine the sulphide mineralogy, theresidenceandlocationofanygoldwithinthelens.  Dr. Rimas Pakalnis of Pakalnis and Associates was contracted by Rambler in March 2010 to visit the propertyandconductageotechnicalreviewofthegroundconditionsandsupportrequirementsforthe proposedminedevelopmentandproductionmethods.Thisreportaddressesrockmasscharacterization andstopedimensionsintermsofspanandpillarsizes,coupledwithsupportrecommendations. Theminedesignandminedevelopmentandproductionschedules,outlininga630metrictonneperday operation, were created by Rambler engineering staff. Stantec Engineering Limited of North Bay was contracted in April 2010 to provide mine costing and oversight of the mine design and overall project economicsforthepurposesoffilingaNI43Ͳ101compliantfeasibilitystudyfortheMingMineoperation.  AnewNI43Ͳ101compliantresourcewascompiledbyRamblergeologicalstaffandreviewedbyMr.Dave Barbour,anindependentqualifiedperson.

4.3

ScopeofWork The scope of work includes a full project evaluation based on the compilation of various independent reports.AllportionsofthisevaluationhavebeencompletedtoNI43Ͳ101standardsandregulationsfora compliantfeasibilitystudy.  Typicallythepreparationofatechnicalreportandresourceestimationforamineralprojectsuchasthe MingCopperGoldMineProjectinvolvesthereviewandanalysesofthefollowingaspects: 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16.

Regionalandlocalgeology; Explorationworkcarriedoutontheproject; Auditofexplorationdatabase; Reviewofqualityassuranceandqualitycontrolmeasures; Definitionofageologicalmodel/mineralizationframework; Resourceestimationmethodology(geostatisticsincludingvariography); Validation; Outlineoftheresourceclassificationmethodology; Evaluationofmineralprocessingcriteria; Determinationofundergroundminemodel; Evaluationofunminedandremnantpillarareasremainingaftermineclosure. Surfaceinfrastructurerequirements; Project’sschedule; EnvironmentalAspects; Economicassessment; Risks,opportunitiesandrecommendations;

Rambler has been managing and operating the drilling program, both surface and underground, since 2005.Duringthistimeextensivequalitycontrol/qualityassurancehasbeenemployedtoensurealldata collectedcomplies with NI 43Ͳ101 andForm 43Ͳ101F1 guidelines in conformity withgenerally accepted CIM “Exploration Best Practices” and “Estimation of Mineral Resource and Mineral Reserves Best

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 Practices”guidelines.Additionalinformationdescribingthisprogramindetailcanbefoundunderitem14 ofthisreport.

4.4

ProjectTeam This technical report was compiled by the Rambler team for the company’s board of directors.  The majorityofthisreportwasassembledthroughpreviousengineeringreportscommissionedbyRambler.  TheRamblerteamincludes: x TimSanford,P.Eng.–ChiefEngineer Tim is directly responsible for managing the engineering department of the Ming Mine Project. x MichelleMorey,C.M.A.–FinancialController Michelle is responsible for overseeing all day to day financial aspects of the Ming Mine Project. x LarryPilgrim,P.Geo.–ChiefGeologist Larry is directly responsible for managing the geology and exploration of the Ming Mine Project. x Ramblerhasanexperiencedtechnicalteamwhohaveallcontributedtothisreport. Shaun Gage (Senior Engineer); Darrell Hyde (Senior Project Geologist); Stephanie Maloney (Project Geologist); Milton Noel (Mine Superintendent and H&S Coordinator);CoreyGreenham(EnvironmentalCoordinator);WallacePinksen(Mill Superintendent);JamieBounds(Environmental/SafetyOfficer).

4.5

BasisoftheTechnicalReport Exploration data collected during the diamond drilling program has been continuously monitored by Rambler Metals and Mining’s geological staff.  The exploration dataset, which formed the basis of the miningshapes,wereevaluatedandoptimizedforminingextraction.  Thisinformationcombinedwithvariousotherindependenttechnicalreportscreatedthefoundationfor thiscompleteNI43Ͳ101projectevaluation.  Thisprojectreviewisprimarilybasedonthefollowingsourcesofinformation: x x x x x x x x

Rambler drill database. The drill database is comprised of collar, survey, assay and geological components; Ongoing review/ interpretation of the property geology with Rambler’s geological and engineeringstaff; Review of current and historical plans and drill sections for the drill program adjacent to the historicalMingMine; SRKConsultingEngineersandScientists; Thibault&AssociatesInc.; PakalnisandAssociates; NovaportInternationalConsultantsLimited/ADILimited; StantecEngineeringLimited;

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 x x x x



Information stored at the Newfoundland Department of Natural Resources, Mines and Energy BranchsubmittedbyCRMLuponclosureoftheMingMineinApril1982; Original Ming mine documents stored by CRML at the mine vault and retrieved by Rambler Metalsin2009; Registration Pursuant to Section 6 of the Environmental Assessment Act for Operation of the MingMineCopperͲGoldProject; Additionalinformationobtainedfrompublicdomainsources.



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5

RelianceonotherExperts This report has been compiled by various, independent, third party consultants. The information, interpretations,conclusionsandestimatescontainedhereinarebasedonacomprehensivegeologicaland engineeringdatabasecompiledbyRamblerstaffandarecurrentuptoSeptember1st,2010.  SRK consulting Canada Inc (SRK) was contracted by Rambler to compile geostatistical analyses and construct variogram models based on information supplied by Rambler in January 2009. SRK supplied Rambler with block model and estimation parameters which were utilized by Rambler to compile the mineral resource estimate presented. Dave Barbour GeoConsulting has reviewed and approved all informationrelatingtheresourceestimation.  Thibault and Associates Inc. (Thibault) was responsible for all process, mechanical and electrical engineering for this report. Thibault’s work is coupled with ADI Limited who was responsible for the associatedcivilandstructuraldesign.  Stantec has reviewed and approved all environmental, underground mine engineering as well as the economicevaluationrequiredforthisprojectevaluation.  Allcomponentsofthisreporthavebeencompletedtoafeasibilitylevel(+/Ͳ15%)andconformtoallNI43Ͳ 101standardsandqualifications.  None of the above mentioned consultants are insiders associated with or an affiliate of Rambler and neither has acted as advisor to Rambler or its affiliates in connection with this project. The results provided by SRK, Thibault, ADI and Stantec are not dependant on any prior agreements concerning conclusionstobereached,norarethereanyunderstandingsconcerninganyfuturebusinessdealings.

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6

PropertyDescriptionandLocation

6.1

Description MineSite

The Ming Mine site is located approximately 17 km by road east of the town of Baie Verte,onthenorthcoastofNewfoundland,geographiccoͲordinates49°54’Nlatitude and 56°05’ W longitude (Figure 6Ͳ1, 6Ͳ2).  The site is approximately 360 km by air northwestofSt.John’sand165kmbyroadnortheastofDeerLake.Thesurfaceoutcrop of the Ming deposit is at UTM coordinates of 565,910mE, 5,529,370mN (NTS 12H/16 BaieVerte;NAD83,Zone21).

 Access to theBaie Verte Peninsula is provided via Route 410 (Dorset Trail) exiting the TransCanadaHighway.TheminesitecanbeaccessedviatheLaScieHighway(Route 414) and the Ming’s Bight Road (Route 418).  The northͲsouth trending Ming’s Bight Roadtransectsthewesternhalfoftheproperty.TheMingandMingWestfacilitiesare located near this road.  A gravel road exits Route 414 and extends northwards for a shortdistancetotheBoundaryShaft.Severaloldtrailsanddrillroads,aswellasrecent logging roads provide limited access to the interior of the property.  A new cut exploration grid transects the area of the mining leases. The town of Baie Verte (population1,000),ishometoseveralminingandexplorationserviceproviders,medical facilities, and construction facilities.  As well, Baie Verte and the nearby communities haveanexperiencedminingworkforce.  The Ming CopperͲGold Mine property contains the former producing Ming and Ming West CuͲAu mines (Figure 6Ͳ2).  The Ming Mine last operated in 1982 and the Ming Westin1996.Thetwominescanbeaccessedbywayofanundergroundramp,while thedeeperlevelsoftheMingMinehasa3Ͳcompartmentshaft.Rambleracquiredthe property after it had been successfully consolidated.  The property includes the decommissionedMingBoundaryshaftandthemetalcladoffice/dry/shopbuildingfrom the Ming West Mine (now retrofitted into the Waste Water Treatment facility for dewatering operations) as well as a large core shed and miners dry plus the now deͲ watered underground ramp and workings associated with the Ming and Ming West deposits.  TheMingandMingWestMinesexploitedrelativelynarrowzonesofhighͲgradeCuand Aumineralization.SectionsofthismineralizationremaininthelowerpartoftheMing Mineanditisopentodepth.ThefirstRMMholesweredrilledin2003,targetingthe MingMassiveZone(MMS),(RM03Ͳ01andRM03Ͳ02)whichconfirmedthedownplunge extension of that zone.  In 2004, two further holes were drilled to test the depth potential of the underlying Lower Footwall Zone (LFZ), which was partially outlined nearertosurfacebythepreviousminingoperator.Thesedrillholesbothreturnedwide zonesofCumineralizationwithsubstantiallybetterindicatedgradesthanencountered inthenearertosurfacehistoricholes. 

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 Therearenoseriousenvironmentalliabilitiesassociatedwiththepropertyandthereare no tailings dump areas.  In 2005, a number of programs were undertaken on the propertytoassistinremediationofthelegacyofpastoperators.Twoopenventraises havebeentemporarilycappedwithtimbers,backfilledandfenced.BoththeMingand Ming West pits have been surrounded with fencing. The Ming ramp and underground workings have been deͲwatered down to the 2400 foot level and maintenance pumps operate24hoursadaytomaintainthepresentwaterlevel.  MillSite

TheNuggetPondmillislocatedapproximately6kmwestofthecommunityofSnooks ArmintheprovincialdistrictofBaieVerteͲWhiteBay,geographiccoͲordinates49°50’N latitude and 55°45’ W longitude (Figure 6Ͳ1).  The Nugget Pond Mill is located 44 kilometersbyroadfromtheMingMinefacility.Thesurfacefacilitiesareconcentratedin a10hectarearea.Thegroundsurfaceismostlyrockywithmoderateforestcoverage, moderatelyroughterrainandelevationsrangingfrom90to140mabovesealevel.

 AccesstotheNuggetPondsiteisviatheLaSciehighwaytoSnooksArm(Highways414 and416).FromtheSnooksArmhighwayjunction,thesitecanbereachedbygravelroad runninggenerallywestforadistanceofapproximately5kmtothemillsite.  There are no serious environmental liabilities associated with the property. The site however does contained a fully permitted tailings facility with adequate storage capacityforthelifeoftheproject.  PortSite

The Goodyear’s Cove port, situated in at the head of Halls Bay, NL, is located approximately 1.4 km west of the community of South Brook in Green Bay district, geographic coͲordinates 49° 25’ N latitude and 56° 05’ W longitude (Figure 6Ͳ1).   All surface facilities are concentrated in a 1 hectare area.  Ground surface is rocky and moderately flat with sparse vegetation and elevations rising a maximum of 12 meters abovesealevel.

 Therearenoseriousenvironmentalliabilitiesassociatedwiththeproperty. (AdditionalSitemapscanbefoundinAppendix2)

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Figure6Ͳ1:LocationofRamblerProjectareanearBaieVerte,Newfoundland,Canada.



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 Figure6Ͳ2:MingMinesiteinfrastructureinrelationtothevariousMingMiningZones.



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6.2

LandTenure MineSite

TheRamblerpropertyisaminerallandassemblyconsistingofonemapͲstakedmineral license014692Mandtwominingleases(141Land188L)(totaling1,580.4ha)registered inthenameofRamblerMetalsandMiningCanadaLimited,awhollyownedsubsidiary ofRamblerMetalsandMiningPLC(Table6Ͳ1).Alloftheseminerallandsarecontiguous andinsomecasesoverlappingandarelocatedintheareaoftheformerMingandMing West Mines (Figure 6Ͳ3). In early 2008 the mineral license 014692M replaced the originallicenses09997M,11872Mand11504MbygroupingasrequestedbyRambler. AlllandsareingoodstandingwiththeNewfoundlandgovernmentandRamblerisupto datewithrespecttoleasepayments(forleases)andrequiredexplorationexpenditure (forlicenses).



Figure6Ͳ3:RamblerProperty:Mineraltenureandmapstakedclaims.



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 Table6Ͳ1:MinerallicensedetailsfortheRamblerProperty. Mineral License

Mining Lease

# Claims

 Hectares

NTS Map

014692M



38

950

12H16



141L

0

280

12H16



188L

0

350.4

12H16

Totals



38

1,580.4



6.3

Issuance Date

License Renewal

Tenure Year

Expenditure Anniversary

Expenditure DueDate

Expenditure Required

June19, 2000 October 30,1995 February 17,2005

June19, 2015

10

June19,2011

June19,2015

$18,093.21

n/a

n/a

n/a

n/a

October30, 2010 February17, 2011

October30, 2010 February17, 2011







Total Annual Mining Lease Cost

$22,400.00 $28,032.00 $50,432.00

Assessment ReportDue Date August18, 2010 March15, 2011 March15, 2011 

UnderlyingAgreements OnFebruary23,2005,AltiusMineralsannouncedthatithadcompletedanagreementtosellitsinterest intheRamblerCuͲAuprojecttoRambler.Ramblerwasformedspecificallytoacquire100%interestinthe Rambler project fromAltiusMinerals in exchangefor 30% of the outstanding shares(12,000,000). The initial agreement was structured such that Altius Minerals would own approximately one third of the issued shares of Rambler Metals and Mining following the company’s admission to AIM following the $18.5M fundraising in April 2005. Altius Minerals also had two members of its Board on the Board of Directors of Rambler. Rambler Metals and Mining PLC currently trades on London’s AIM market under symbol RMM and on the TSX:V under symbol RAB. Current major shareholders of Rambler Metals and MiningPLCareCDS&Co.(15.0%),AltiusMinerals(12.6%)andZilaCorporation(6.8%).

6.4

HistoricalWorkingsattheMingMine MineSite

MinedevelopmentcommencedattheMainMinein1961,andproceededthroughfour deposits up to 1982.  The Ming and the Ming West deposits were the last to be developed and mined. Total production from all deposits was 4.7 million short tons averaging2.17%Cu,withsomeZn,AuandAg.MiningceasedattheMingMinein1982 becauseoflowcopperprices,andbecausethedepositcrossedoverintolandheldbyBP Selco.TheMingWestdepositwasbroughtintoproductioninOctober1995andmined up to, producing 142,173 short tons at 3.98% Cu, 0.17 oz/ton Au, and 0.44 oz/ton Ag fromtheupperpartofthedeposit.Productionceasedduetotheexhaustionofeasily accessible near surface reserves and a drop in the copper price. There has been no miningactivityintheareasincethattime.

 TheexistingMingMineworkingsconsistofvariouscomponents(Figure6Ͳ4): x

x

x

Theportalandthemainramp.Theexistingrampwithnominaldimensionsof 5mwideby2.5mhighextendsatan18%gradientfromtheportalelevationof 160mdowntominus633m,alengthof4665m(15,305ft). Level development nominally spaced at 30m (110ft) vertically; mined out stopesintheMingandMingWestdepositsthataremainlyemptyvoids. The boundary shaft is a timbered 3 compartment shaft with two skip compartmentsandaservice/manwaycompartmentextendingatotaldepthof 636m(2,087ft)fromsurfacedowntominegridelevationminus461m(1,512ft). Dimensionsoutsidethetimberare5.7mby2.2m.

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 Figure6Ͳ4:Existingmineworkings–3DviewlookingsouthupͲdip. 



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7

Accessibility,Climate,LocalResources,InfrastructureandPhysiography

7.1

Accessibility MineSite

 MillSite

 PortSite

7.2

Access to theBaie Verte Peninsula is provided via Route 410 (Dorset Trail) exiting the Trans Canada Highway.  The Rambler property is accessed via the La Scie Highway (Route 414) and the Ming’sBightRoad (Route 418).  The northͲsouthtrending Ming’s Bight Road transects the western half of the property.  The Ming and Ming West facilitiesarelocatedadjacenttothisroad.AgravelroadexitsRoute414andextends northwardsforashortdistancetotheBoundaryShaft.Severaloldtrailsanddrillroads, aswellasrecentloggingroadsprovidelimitedaccesstotheinterioroftheproperty.A newlycutexplorationgridtransectstheminingleases.ThenearbytownofBaieVerte hasadeepwaterportfacility.Thenearestairportis160kmtothesouthwestnearthe TownofDeerLake. AccesstotheNuggetPondsiteisviatheLaSciehighwaytoSnooksArm(Highways414 and416).FromtheSnooksArmhighwayjunction,thesitecanbereachedbygravelroad runninggenerallywestforadistanceofapproximately5kmtothemillsite. AccesstotheGoodyear’sCoveportisviatheTCH.Agravelaccessroadrunsnorthfor approximately500meterstothesite.

Climate Theclimateinthisareaisnortherntemperate,allowingatwelvemonthoperatingperiod.Meansummer temperatures are 16°C and mean winter temperatures are Ͳ8°C.  Lakes and ponds freeze over in early December but are ice free in midͲApril.  Annual precipitation exceeds 1,000 mm.  Shipping may be interrupted for brief periods in late winterͲearly spring when the Labrador Current moves pack ice and icebergssouthfromGreenland.

7.3

LocalResources Theareahasahistoryandcultureofasbestos,gold,copper,andindustrialmineralsmining,datingfrom the1800’sandconsequentlyisminingfriendly.ThemajorcenterfortheregionisthetownofBaieVerte (population 1,000), which offers several mining and exploration service providers, deepwater loading, hotels, schools, shopping, medical facilities, fire fighting, construction, and recreational facilities.  Baie Verteandthenearbycommunitieshaveanexperiencedminingworkforce.

7.4

Infrastructure MineSite

TheMingMineisconnectedtotheprovincialelectricalpowergridandiswellequipped with mine related infrastructure. The disturbed site covers less than ten hectares and includesthefollowing: 1. RoadandYardarea; 2. WasteWaterTreatmentFacility;

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 3. 4. 5. 6. 7. 8. 9. 10.

MaintenanceGarage; SurfaceElectricalSubͲStation; CoreStorageBuilding; TemporaryOffice/Dry; MinePortal; BoundaryShaft; MingandMingWestOpenPits; VentRaises.

The mill site and tailings compound area from previous operations is located 1.5 kilometers to the south of the Ming Mine facility. Its entire footprint is now under Exempt Mineral Lands and controlled by the Government of Newfoundland and Labrador. The former mill and support buildings have suffered neglect and vandalism overthepastyearsandhaverecentlybeendemolishedbytheprovincialgovernment. Allliabilitiesassociatedwiththeformersiterestsolelywiththeprovincialgovernment.  MillSite

TheNuggetPondfacilityisafullypermittedgoldhydrometallurgicalmillwithanominal throughputrateof500mtpd.Allexistinginfrastructurehasbeenwellmaintainedover theyearsandnoseriousenvironmentalliabilitiesareassociatedwithproperty.

 TheNuggetPondpropertycoversapproximately10hectaresandincludesthefollowing: 1. RoadandYardarea; 2. OfficeBuilding; 3. AssayLab; 4. SewageTreatmentPlant; 5. ALargeMaintenanceGarage; 6. ColdStorageBuildings; 7. MillBuildingincludingCrusher,OreBin,ThickenerandLeachTanks; 8. OreStockpileArea; FuelStorageandDispensingFacilities; 9. 10. SecurityHouse; 11. ReclaimandFirePumpHouse; 12. EmergencyGenerator; 13. TailingsPond,PolishingPondandassociatedinfrastructure(TMF).  PortSite

Goodyear’sCovePortSiteitselfisownedbyTheTownofSouthBrookwiththeadjoining land owned by Mrs. Joan Brown.  The port is used primarily as a shipping port and provides deep water loading in a semiͲsheltered harbor.   It has a well maintained dockingfacilitythatisavailabletothepublic.

 InfrastructureattheGoodyear’sCoveportincludes: 1. Dockwithconcretetopandbollards; 2. Twosmallerdockswithbollardsandsuspendedwalkways; 3. Twoshorebollards; 4. SmallSlipway; 5. Electricalshed; 6. SemiͲexistentconcretepad. 

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7.5

Physiography MineSite

 MillSite

TheMingMineliesatanelevationofapproximately150mabovesealevel.Topography is gently rolling, rising to a series of northwest trending ridges with elevations near 180mto190mabovesealevelinthenorthnearThreeCornerPond.Outcropexposure ranges from 0.5% to 5% owing to a persistent blanket of overburden averaging about 2m in thickness.  The property is dominated by mature black spruce and hardwood, though forest fires have affected some areas.  Logging operations have been ongoing sincetheearlyeightiesandbothclearcutandnewgrowthforestsarepresent.Small bogsandpondsassociatedwithlowlyingdepressionsarecommonandconstituteparts oftheSouthBrookandEngland’sPondwatershedsthatflownorthwardtothecoast. ThearealiesontheeastsideoftheBaieVertePeninsulawhichisanundulatingplateau. The coast line of the Betts CoveͲTilt Cove area is bounded by shear cliffs rising rather abruptly to the plateau level about 150 meters above sea level.  The shoreline is indentedbymanyfjordͲlikecovesandinlets,thelargestofwhich,Snook’sArm,isthree kilometers long.  The dissected plateau to the west is marked by parallel ridges and roundedhills.Soilisabsentorextremelythinontheplateauandtheamountofdrift present, even in the valleys, is small.  To the north of the site and on much higher elevations, a thin layer of moss/lichen is common on the upland barrens.  The larger areas, especially those underlain by granite and ultramafics, are devoid of vegetation. Locallyandtothesouthofthesite,thevalleyslopessupportathickbutlowgrowthof spruce,birch,fir,aspen,andalder.Theareaiswelldrainedanddottedwithamyriadof smallpondsandstreams.

 TheNuggetPondFacilitylieswithintheheartoftheFlyPondͲBobby’sCovewatershed. Thisdrainagebasinhasroughlytheshapeofaquestionmarkandencompassesanarea of some 740 hectares.  It is oriented southward and drains into the head of Bobby’s Cove.  The system is comprised of four main ponds; namely Fly Pond, Rocky Pond, HorseshoePond,andBobby’sCovePond.Approximatelytensmallerunnamedponds arealsolocatedwithinthedrainagebasin.  PortSite

 

The Goodyear’s Cove port, situated in at the head of Halls Bay, NL, is located approximately1.4kmwestofthecommunityofSouthBrookinGreenBaydistrict.All surface facilities are concentrated in a 1 hectare area.  Ground surface is rocky and moderately flat with sparse vegetation and elevations rising a maximum of 12 meters abovesealevel.

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8

History

8.1

MingMineͲEarlyHistory Auriferous sulphides were found in the area in 1905 by Enos England.  In 1907, a shaft was sunk to a depthof65ftandafiftyfootcrosscutwasdriven.TheMainMinesulphidezonewasfoundin1935about 600ft north of the Enos England discovery.  In 1940, the Newfoundland government drilled eighteen diamond drill holes totaling 5,000ft.  The property was optioned in 1944 by a group of St. John’s businessmenwhoformedRamblerMinesCorp.Thepropertywassubsequentlyoptionedin1945toGold Mines which drilled 681ft in thirtyͲone diamond drill holes, and then to Falconbridge Nickel Mines Ltd (RambridgeMines)in1951,whichdrilled14,300ft.Anairborneelectromagneticsurveywasflownin1955 to56.

8.1.1ConsolidatedRamblerMinesLtd The property reverted to the crown when the Undeveloped Mineral Act was invoked by the NewfoundlandMinisterofMinesin1960,andthepropertywasthengrantedtotheM.J.Boyleninterests whoformedConsolidatedRamblerMinesLtd.MinedevelopmentcommencedattheMainMinein1961, andproceededthroughfourdepositsto1982.TheMingMinewasdiscoveredin1970byahelicopterͲ borneAEMsystem.AlargelowͲgradestringerͲtypecopperdepositwaslaterdiscoveredinthefootwall 300ftto500ftbelowtheMingorebodyduringminingoperations,anddelineatedbythirtyͲsixdiamond drill holes.  Mining ceased at the Ming Mine in 1982 because of low copper prices, and because the depositcrossedoverintolandheldbyBPSelco.

8.1.2RamblerJointVentureGroup In 1987, the property again reverted to the crown under the Undeveloped Mineral Act, and proposals weresolicitedbythegovernmentforexplorationanddevelopment.IncoLtdwasoneoftheapplicants, and in anticipation of a favorable response purchased the Rambler Mill facilities from Consolidated Rambler Mines Ltd.  In 1988, the property was awarded to the Rambler Joint Venture Group (a consortiumofTeckExploration,PetrometResourcesLtd,andNewfoundlandExplorationCompanyLtd). Explorationconsistedofgroundgeophysicsandsoilgeochemistry,resultingindiscoveryoftheMingWest deposit.  FortyͲeight diamond drill holes (25,534ft) were completed and IP resistivity, miseͲaͲlaͲmasse, and point array surveys were conducted over the deposit.  Borehole timeͲdomain electromagnetic surveyswerecarriedoutinanumberofdrillholesalongthedownͲplungeextentofthemineralization. NegotiationswereinitiatedwithIncoLtdforthepurchaseoftheRamblerMill,whichwasinsteadsoldto International Corona Corporation (Corona), who held the former BP Selco property containing the extensionoftheMingdeposit.TheRamblerpropertyrevertedtothecrownin1993.

8.1.3MingMineralsInc. In 1993, Corona, which had been taken over by Homestake Mining, decided to dispose of the Rambler Mill,inanassetrationalizationdecision.MingMineralsIncwasthenformed,withSamBlagdonandPeter Dimmellasequalpartners,toacquiretheRamblerMillfacilityfromHomestake.Theassetswereacquired inMarch1993,alongwiththemineralrightstotheformerBPSelcoproperty(RamblerNorth). 

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 MingMinerals,withthemillfacilityandthemineralrightstotheRamblerNorthproperty,hadpositioned itselftoacquirethemineralrightstotheRamblerpropertieswhenthegovernmentreleasedthem.With theexceptionoftheMingMinearea,thegovernmentreleasedthepropertyforgroundstakinginearly 1994andMingMineralsacquiredthegroundinastakingrush.Subsequently,thegovernmentsolicited proposals for the exploration and development of the Ming Mine area.  Ming Minerals’ proposal was acceptedinJune1994.WiththeacceptanceoftheMingMinerals’proposal,thisisthefirsttimethatall thekeypropertiesintheRamblerareahavebeenheldbyoneowner.  Historically,explorationanddevelopmenthavebeenobstructedbythedivisionofmineralrightsholdings. MingMinerals’arrangedfinancingforMingWestproductionthroughMingFinancialCorp.whichearneda 70%interestintheprojectbyexpending$2.2Mininvestmentcapitalthatcarriedtheminingandmilling facilitythroughtoproductioninOctober1995.AccesstotheMingWestdepositwasachievedbydrifting fromtheMingdecline.ProductionbeganinmidOctober1995,withthefirstconcentrateshipmentinlate December1995.TheMingWestdepositwasminedin1995to1996,producing142,173tonsoforeat 3.98%Cu,0.17oz/tonAu,and0.44oz/tonAgfromtheupperpartofthedeposit.Productionceasedin 1996duetotheexhaustionofeasilyaccessiblenearsurfacereservesandadropinthecopperprice.No other mining operations on the Rambler property have been undertaken since the closure of the Ming Westminingoperation.  In1997,CanameraGeologicalLtd(Canamera)wascommissionedtodoafeasibilitystudyontheRambler PropertyforMingMinerals.Canamerareportedaremainingmineralresourceinventoryontheproperty. Canamera concluded that the outlined mineral resource would not support an economically feasible operationandthepropertythenlaydormantuntilacquisitionbyAltiusfromMingMinerals.

8.1.4AltiusMineralsCorporation UnderthetermsofanoptiontopurchaseagreementwithMingMinerals,Altiusconductedexplorationon the Rambler property in 2001, 2003, and 2004.  In 2001, a lithogeochemical program was initiated to chemicallyfingerprintrocksofthehangingwallandfootwalltothesulphidedeposits.Ramblerlithologies are strongly metamorphosed and deformed, and locally strongly altered, commonly precluding visual recognitionoftheirstratigraphiccontextwithrespecttothemassivesulphidehorizon.Eighthistoricdrill holesrepresentingathickstratigraphicintervalwerereͲloggedandsampledindetail.Onehundredand sixtyͲsixsampleswereanalyzedformajorandtraceelementsatActivationLaboratoriesLtdofAncaster, Ontario, and at XRAL Laboratories, Don Mills, Ontario.  Altius conducted diamond drilling programs in both2003and2004.Twoholes(RM03Ͳ01andRM03Ͳ02)weredrilledinaJCEAPͲassisteddrillingprogram conducted down plunge from the former Ming Mine in 2003, with associated down hole transient electromagneticsurveys.ThesesuccessfullyprovedtheexistenceoforegradeandwidthCuͲAumassive sulphide mineralization 500m beyond the limits of the previous mining operation.  During 2004, Altius continuedtheprogramofdeepdrillingwiththeobjectiveoftestingthedownplungeextensionsofthe LowerFootwallZone(LFZ),alargeVMSͲstylestringersystem,whichoccursstructurallybelowportionsof theMingMassiveSulphides.AltiusdrilledtwoNQsizediamonddrillholes(RM04Ͳ03andRM04Ͳ04)with associated down hole transient electromagnetic surveys. These effectively confirmed the presence and gradeswithintheLFZandextendedthemineralizationafurther250mdownplunge.Earlyin2005,Altius completedanagreementtosellitsinterestintheRamblerprojecttoRamblerMetalsandMiningPLC.



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8.1.5RamblerMetalsandMiningPLC RamblerMetalsandMiningisaUKͲbasedcompanylistedonLondon’sAlternateInvestmentMarket(AIM) andtheTorontoVentureStockExchange(TSXͲV).Ramblerholdsa100%interestintheMingpropertyand between2005and2009conductedamultiͲphasediamonddrillingprogramconsistingofsurfacedrilling, directionaldrillingandundergrounddelineationdrilling.  During 2005 a widely spaced drill hole program was designed to further test the plunge and strike extensionofboththeMingMassiveSulphide(MMS)HorizonandLowerFootwall(LFZ)Zones.Basedon the results of this program in 2006 and using directional drilling technology Rambler continued to evaluatethemineralizationwithpredictable50meterspaceddrillholes.Thesurfacedirectionaldrilling program continued until the completion of the mine dewatering program in July 2008 which allowed explorationtocontinuefromunderground.  Rambler’s drilling programs have confirmed the continuity of mineralized ore zones both downͲplunge and across strike from where historic mining operations ceased in the early 1980’s.  Based on the existence of significant mineralization a number of engineering studies have been completed including thisNI43Ͳ101technicalreporttoevaluatetopropertieseconomicviability.

8.2

NuggetPond BettsCoveorepotentialwasdiscoveredin1860andminingstartedin1875.TheBett’sCovemine,which was located only 4 km southͲwest of the Nugget Pond property, produced 118,431 short tons of good gradecopperduringits11yearminelife.Atthatsametime,theTiltCoveorebodywasdiscoveredjust12 km northͲeast of the Nugget Pond property.  The Tilt Cove property developed into a long running operationproducing61,000tonsofcopper,416tonsofnickel,50,000ouncesofgoldand50,000ounces ofsilverinits53yearminelife.  Surface exploration programs conducted from 1987 to 1990 accounted for a total of 22,000 meters of drilling involving 106 holes.  Reserve calculations performed by Bitech in 1992 and Noveder in 1993 initially proved that the ore body contained some 416,168 tonnes of ore grading 14.3g/T of gold for a totalcontentof191,974ounces.Thisestimatewasusedtodetermineeconomicfeasibilityandinturn, sparked the bulk sample program and the overall development of the project.  Richmont Mines Inc. acquireda60%stakeintheNuggetPonddepositin1995andlaterboughttheremaining40%inJanuary 1996.InApril1997,afteratenmonthconstructionphase,themillwascommissionedandcommercial production at the Nugget Pond site began.   By that time the Nugget Pond Mine Site included a fully operationalgoldmine,office,assaylab,hydrometmill,shop,and3coldstoragewarehouses.  Processing of the Nugget Pond Deposit continued until mid 2001.  At that time, the ore body was exhausted.However,priortothedepletion,RichmontMineswerealreadyintheprocessofdeveloping the Hammerdown deposit in the King’s point area.  This deposit, acquired from Major General, had significantgoldshowings.Previously,inthesummerof2000,abulksample7500tonswasremovedand sent to the Nugget Pond mill for processing.  Production of the Hammerdown deposit began in the summer of 2001 and continued until the deposit was exhausted in late 2004. Reclamation on the Hammerdown site was initiated immediately and completed in the summer of 2005.  At that time, the NuggetPondplantthenenteredintoacareandmaintenanceprogram.

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  In2006,CrewGoldCorporationestablishedawhollyownedsubsidiaryCrewGold(Canada)Ltdtooperate the Nugget Pond gold treatment plant and associated facilities for processing of the Nalunaq ore body locatedinGreenland.CrewacquiredtheplantanditssurfacerightsfromNewIslandResourceswhoin turnacquiredtheNuggetPondplantandlicensesandmininglicensesfromRichmontMinesInc.Underan option agreement dated 28th October 2005 subsequently exercised. A Certificate of Approval AA06Ͳ 125490wasissuedtoCrewGold(Canada)Ltdonthe6thDecember2006.Theplantsitewasundercare and maintenance for two years until 27th February 2007 when operations recommenced after considerablerehabilitationandpreͲcommissioningrepairwork.  Duetohightransportationcosts,thiscampaignendedinJune2009.Atthattime,CrewGold(Canada) Ltd. immediately entered into a toll milling agreement with Anaconda Mining Inc.  The agreement was cancelledinDecember2009becauseofcircumstancesbeyondtheircontrol.Theplantinitiatedthecare andmaintenanceprogram.

8.3

Goodyear’sCove The Goodyear’s port was first used by the Gullbridge Mining Company Inc. between 1965 to 1972 for shippingofcopperconcentratefromtheirGullPonddeposittosmelterslocatedintheGasperegionin Quebec. The original copper deposit was discovered in 1905 but wasn’t fully developed until the mid 1960’s.TheGullPondminewaslocatedapproximately20kmfromtheGoodyear’sCoveportthusthe site posed as an excellent location for concentrate shipping.  In addition, the port was also known for being a deep water port.  This allowed bigger ships to enter and use this port when necessary. The Gullbridge Mining Company Inc. erected a large copper concentrate storage shed at the port site to containandloadconcentrateoncontainershipsheadedtothesmelter.Theseshipsarrivedalmostona monthly basis and were loaded with anywhere between 7000 to 10,000 tons of copper concentrate. Upon the closure of the mine, the storage shed was sold to a company for building and fibre glassing ships.Thebuildingwasremovedsometimelaterleavingonlythecementpaduponwhichthebuilding waserected.Thelandwassoldandtheportbecameaprimarydestinationforimportingofsaltforthe Greenbayarea,bytheDepartmentofHighways,andforpersonalwatercraft.    In2006,Crewgold(Canada)Ltd.signedaleaseagreementwiththelandownersforuseoftheportforthe importingofgoldorefromtheNalunaqGoldMineinGreenland.Aftersomeneededrepairtothewharf andarea,thefirstvesselcarrying25,000tonsoforearrivedinFebruary2007.Orewasunloadedand storedontheexistingcementpadthenshippedtotheNuggetPondmillingfacility144kmaway.Inlate 2008,thecompanydecidedtoceaseminingoperationsinGreenlandwhichmeantastoptotheimporting ofore.Bythesummerof2009,allorewasremovedfromtheGoodyear’scovesiteandtheareawasfully reclaimed.



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9

GeologicalSetting

9.1

RegionalGeologicalSetting The island of Newfoundland presents a cross section through the northern portion of the Appalachian Orogen.  Four major tectonostratigraphic zones, based upon PreͲCarboniferous geology, have been identified and termed from west to east as the Humber, Dunnage, Gander, and Avalon Zones.  These zones recordthe opening and closing of the IapetusOcean in the latePrecambrian and early Paleozoic (Williams,1979).  TheHumberZonerepresentsthecontinentalmarginofLaurentiaandconsistsofPrecambriancrystalline rocks overlain by Paleozoic shelf facies rocks while the Avalon Zone represents part of Gondwana and consists of late Precambrian plutonic, volcanic and sedimentary rocks overlain by Paleozoic platformal sedimentaryunits.TheGanderZonerepresentsmainlysedimentaryrocksbelievedtobedepositednear theeasterncontinentalmarginoftheIapetusOcean.TheDunnageZonerepresentsthevestigesofthe IapetusOcean.RockswithintheDunnageZoneconsistofvolcanicandsedimentaryrocksofbackͲarcand islandͲarcaffinityandofophioliticrockscreatedduringtheopeningandsubsequentclosureofIapetus. TheDunnageZonealsoincludespostͲaccretion,epicontinentalvolcanismandmolassesedimentationof largelySilurianageandavarietyofintrusiverocks,largelyofDevonianage(Thurlowetal.,2005).  TheBaieVerteareaislocatedalongthewesternmarginofthepredominantlyvolcanic,LowerPaleozoic, Central Mobile Belt of Newfoundland.  The Baie Verte lineament, which essentially delineates the boundary between the Dunnage and Humber Zones (Figure 9Ͳ1), is usually steeply dipping and northͲ easterlytrending.  IntheBaieVertearea,theBaieVertelineamentturnseastwardandisdissipatedintoaseriesofsoutherly dippingthrustfaults.TheRamblerareaislocatedwithintheDunnageZone,whichisanimportantVMS district that is reported to host over twenty copper deposits of over 200,000 tons of ore (previous productionorreserves)(WardleandPollock,2000).  The sulphide deposits in the region are grouped into ophiolitic volcanic hosted and arc volcanic hosted environments.Thelatterenvironmentusuallycontainspolymetallicdepositshostedbymaficandfelsic volcanic sequences.  Those in mafic dominated sequences tend to be copperͲrich, but with increasing amountsoffelsicvolcanic,themineralizationbecomesincreasinglyassociatedwithzincandlead,silver andgoldarefoundasaccessoryelementsinbothenvironments(WardleandPollock,2000).

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Figure9Ͳ1:RegionalgeologyofNewfoundlandhighlightingthevarioustectonostratigraphiczonationsin relationtotheMingCopperͲGoldMineProperty.

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9.2

PropertyGeology TheBaieVertePeninsulahasbeenmappedbyHibbard(1983)andtheregionalgeologydescribedinthis sectionisbasedprimarilyonhisreport.TheBaieVertePeninsulaisunderlainbytwodistinctstructural andlithologicalbelts,separatedbyamajorarcuate,structuralzone,referredtoastheBaieVerteLine. Rocks to the west of the Baie Verte Line belong to the Fleur de Lys Belt of the Humber TectonostratigraphicZone.RockslyingtotheeastoftheBaieVerteLinebelongtotheBaieVerteBeltof theDunnageTectonostratigraphicZone. TheBaieVerteBeltiscomprisedoffourmainlithologicalelements: 1. 2. 3. 4.

CambroͲOrdovician ophiolitic sequences of the Advocate, Point Rousse and Betts Cove Complexes,andthePacquetHarbourGroup; OrdovicianvolcaniccoversequencesoftheSnooksArmandFlatWaterPondGroups. SilurianterrestrialvolcanicandsedimentaryrocksoftheMicmacLakeandCapeSt.JohnGroups; SiluroͲDevonianintrusiverocks,namelytheBurlingtonGranodioriteandCapeBrulePorphyry.

The Point Rousse Complex and the Pacquet Harbour Group are the main geological elements of the RamblerProperty.ThePointRousseComplexincludesadismemberedophiolitesequenceofmaficand ultramaficrocksconformablyunderlyingacoversequenceofmaficvolcanicandvolcaniclasticsrocks.The maximumoutcropthicknessacrossthecomplexisabout7.5km.RocksofthePointRousseComplexhave been metamorphosed to greenschist facies and are disposed in a broad, east trending syncline, with volcanic and sedimentary components of the cover sequence present in the core, and lower, intrusive componentsappearingnorthandsouthofthecore.ThePointRousseComplexistectonicallybounded. Thecontactsrangefromthrustfaults,suchasthesoutherlyScrapeThrust,tohighanglefaults.  The Pacquet Harbour Group is an incomplete Early Ordovician ophiolite consisting dominantly of a moderatelytosteeplynorthdippingsequenceofvariablydeformedandmetamorphosedmaficvolcanic rocks,lesserfelsicvolcanicrocks,mixedmaficandfelsicvolcaniclasticsrocks,andshallowlevelintrusive rocks.Thebaseandtopofthegroupisnotexposedandthetruethicknessisunknown.Themaximum outcropwidthacrossthegroupisapproximately15km,thoughthisdoesnotrepresentthetruethickness ofthesequence.Alongitssouthernmargin,thePacquetHarbourGroupisunconformablyoverlainby, and in extensional fault contact with Silurian subaerial felsic volcanic rocks of the Cape St. John Group. ThesouthernPacquetHarbourGroupisintrudedbySiluriantoDevonian,felsicplutonicrocksincluding the360MaBurlingtonGranodioriteandtheCapeBrulePorphyry.Alloftherocksintheareaarelower greenschist of lower metamorphic grade with the exception of rocks proximal to the Burlington Granodiorite.  Rocks proximal to this intrusion are highly deformed and show amphibolites to upper greenschistfaciesmetamorphism.  The Pacquet Harbour Group is inhomogeneously deformed and metamorphosed.  The sequence in the Rambler area has undergone four phases of deformation, the second phase (D2) being the most important (Table 9Ͳ1,Tuach and Kennedy, 1978).  The D2 main deformation produced an intense, penetrative,transpositionfabricthatisgenerallyparallelorsubparalleltoprimarylayering.Development of an intense LͲfabric accompanied the formation of this schistosity and produced a north easterly plungingmineral,clastandpillowlineation(±035º/35ºNE)throughoutthenorthernpartofthearea.This deformation has affected all the ore deposits and prospects in the Rambler area causing them to be

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 rotated and elongated (to ribbonͲlike forms) paralleling the lineation, which plunge in a northeasterly direction. Table9Ͳ1:DeformationphasesintheRamblerArea(TuachandKennedy,1978) Deformation Phase D4 D3 D2

D1 

Fabric

Mesoscopic Folds NEstrikingcrenulation NEplunging,open,upright Generally NW striking, strain slip, dips Open,NEplunging,overturned generallyNE Generally NW striking, LͲS fabric, dips NE, Tight to isoclinal, NE plunging, strike EͲW in central and southern part, reclined compositionalbanding LͲS flattening fabric, preserved between S2 Nofoldsnoted surfaces

 Theschistosityisaxialplanartominor,tighttoisoclinal,northeastplungingfoldsofwhichtheaxesare parallel to the D2 lineation.  The existence of large scale D2 folds is probable, though their location is equivocal.Thesestructuresareoverprintedbyalate,moderatetoshallownortheastdippingcrenulation cleavageproducedduringD4.Thiscleavageisaxialplanartoopen,recumbent,shallowlyplungingfolds ofthemainschistosityandprimarylayering(Hibbard,1983).  IntheRamblerarea,thePacquetHarbourGroupisfurthersubdividedintotwostratigraphicsequences juxtaposed along a prominent eastͲwest to northwestͲsoutheast trending low angle (25° to 30°) thrust faulttermedtheRamblerBrookFault(Coates,1990).  Onesequence,namedtheUncles’Sequence,locatedapproximately6kmtothesouthwestfromtheMing Mine Property, is dominated by mafic volcanic with lesser felsic and intermediate volcanic rocks.  The Uncles’SequenceishosttotheBigRamblerPondMine.  A second sequence, named the Rambler Sequence, contains a felsic volcaniclastics pile structurally overlain by a sequence of mafic to intermediate flows and volcaniclastics which in turn grades upward intoametasedimentarysuccession.Thefelsicpileattainsamaximumthicknessofapproximately5000ft justsouthoftheRamblerareaandpinchesoutfurthersouthward.Alongtheflankofthepilethefelsic volcaniclastics pinch out or grade laterally to mixed felsic/intermediate and mixed felsic/mafic volcaniclastics rocks.  Magnetite chert, sulphide impregnated chert and banded polymetallic massive sulphides are very prominent but not widespread.  Hydrothermally altered felsic volcaniclastics rocks includingquartzͲsericiteandquartzͲchloriteͲsericiteschistwithdisseminatedandstringersulphidesoccur proximaltothemassivesulphides.TheRamblerSequenceishosttotheMain,East,Ming,MingFootwall, andMingWestmassive(±stringer)sulphidedeposits(Thurlow,2005).  Onthewest,south,east,andnortheast,thePacquetHarbourGroupisintrudedbyplutonicrocks.The largestoftheseistheBurlingtonGranodioritedatedat460MaorMiddleOrdovician.Tothenorthisthe DunamagonBiotiteGranitealsodatedat460Ma.AlongtheeastsideistheCapeBruleQuartzͲFeldspar Porphyry which is observed to have intrusive and extrusive phases and also intrudes the Burlington Granodiorite.  The Cape Brule Porphyry has been dated at 404Ma giving it a Late Silurian to Early

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 Devonianage.SangsterandThorpe(1975)reporteda460MaageforthePacquetHarbourGroupbased ongalenafromtheMingMine.AreasonablysimilarageisthereforeindicatedfortheVMSdeposits(and thehostfelsicvolcaniclasticsrocks)andtwooftheregionalfelsicplutons.

9.3

GeologyattheMingMine TwomajorlithologicalpackagesoccurinthevicinityoftheMingMine,theHangingwallSequenceandthe underlying Mineralized Sequence.  The contact between the two is a meter scale zone of significant brittleͲductile shearing parallel to the strong LͲS fabric in the rocks below.  The Hangingwall Sequence consistsmainlyofbasalticflowswithlesservolcaniclasticsandvolcanogenicsediments,includingminor magneticironformation.TheunderlyingMineralizedSequenceconsistsdominantlyofalteredandlocally mineralized, quartzͲphyric felsic volcanic rocks with minor quantities of altered basalt.  Tectonic fabrics aredevelopedmorestronglyinthealteredrocksoftheMineralizedSequence.BoththeHangingwalland MineralizedSequencesarecutbysignificantvolumesofgabbroicsillsanddykes.  Banded,pyriticmassivesulphidesontheMingMassiveSulphide(MMS)Horizonoccurdirectlybelowthe sheared contact separating the Hangingwall and Mineralized Sequences.  More than one horizon of massivesulphidehasbeenintersectedinseveralholes;intheseinstancesthemassivesulphidezonesare separatedbyaltered,pyritizedfelsicvolcanicorbygabbroicintrusives.Belowthemassivesulphidezone there occurs a sericitizedͲpyritized felsic unit, characterized by the variable presence of green mica. Alteredfelsicvolcanicproximaltothemassivesulphidesgenerallycarryhighergoldcontentscomparedto other altered felsic volcanics.  A zone of sericitized and somewhat pyritized felsic volcanic, nominally 100mthick,separatesthemineralizationontheMingMassiveSulphideHorizon(MMS)fromthatinthe LowerFootwallZone(LFZ).  The LFZ consists of nebulous zones of disseminated and stringer pyrrhotiteͲchalcopyrite cutting altered felsic(andlessermafic)volcanicrocks.Alterationisdominantlysericiticinlessmineralizedsectionsand distinctly chloritic in the zones of best copper mineralization.  The overall sulphide content is relatively lowforaVMSstringersystemandthechalcopyrite:pyrrhotiteratioisanomalouslyhigh,atapproximately 1:1.Thegold:copperratiointheLFZisgenerallylowerthanthatintheMMS.Burton(1982)reportsthat theLFZmaterialthatwastestmilledfromthe1800levelwasbelievedtohaveaheadgradeof0.4g/tAu. Iftrue,thissuggeststhatgold:copperratiosintheMFZdecreasedownplungefromthisareatowardthe areaofmorerecentdrilling.Thelocalgeologicalsettingofthedepositinrelationtootherdepositsinthe areaisshowninFigure9Ͳ2.

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 Figure9Ͳ2:LocalgeologysurroundingtheMingMineCopperͲGoldPropertyillustratingotherdepositsin theimmediatevicinity.

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10

DepositTypes The Rambler deposits belong to a unique class within the spectrum of Volcanogenic Massive Sulphide (VMS) Deposits. VMS deposits usually form from hydrothermal fluids as syngenetic accumulations (exhalations)ofsulphideandsulphatemineralsonorneartheseafloor.Theidealized,undeformedand unmetamorphosedArcheanVMSdeposit,asexemplifiedbytheMatagamideposits,typicallyconsistsofa concordantlensofmassivesulphides,composedof60%ormoresulphideminerals(SangsterandScott, 1976), PyͲPoͲSpͲCpy with associated magnetite, that is stratigraphically underlain by a discordant stockworkorstringerzoneofveinͲtypesulphidemineralization(PyͲPoͲCpyandmagnetite)containedina pipe of hydrothermally altered rock. The upper contact of the massive sulphide lens with hanging wall rocksisusuallyextremelysharpwhilethelowercontactisgradationalintothestringerzone(Figure10Ͳ1). A single deposit or mine may consist of several individual massive sulphide lens and their underlying stockwork zones. It is thought that the stockwork zone represents the near surface channel ways of a submarinehydrothermalsystemandthemassivesulphidelensrepresentstheaccumulationofsulphides precipitated from the hydrothermal solutions, on the sea floor, above and around the discharge vent (Lydon,1990).VMSdepositsarecommonlydividedintoCuͲZn,ZnͲCuandZnͲPbͲCugroupsaccordingto theircontainedratiosofthesethreemetals(Galleyetal.,2005).   EvidenceatRamblersupportingthisgenericVMStheoryincludesthestratiformsharpuppercontactof themassivesulphidedepositsandtheextensivealterationandstringerzoneslocatedinthestratigraphic footwallofthemassivesulphides.Inthismodel,volcanicrocksprovidethemetals,seawaterprovidesthe sourceforacirculatinghydrothermalfluidandadeepseatedintrusive(ormagmachamber)providesthe heattodrivetheoreformingprocess.  TheRamblerdepositsarevolcanogenicpolymetallic(Cu,Au,Ag±Zn)massivesulphidesthatoccuralong theflankofafelsicdome(Coats,1990).Inaddition,thefootwallischaracterizedbyquartzͲsericiteͲgreen mica schist with locally significant gold contents that could represent a discordant stockwork stringer feederzone.TheRamblerdepositsbelongtoaspecialclassofVMSdepositsthatareAuͲrich(Figure7Ͳ1). ThisspecialclassofVMSisthetopicofapaperbyDubeetal.2000,whonotedthatthesedeposittypes are distributed in areas where hydrothermal activity took place in tectonically active, arc or back arcͲ relatedseafloorenvironments(ofwhichthePalaeozoicDunnageZoneoftheNewfoundlandAppalachians intheBaieVerteDistrictisanexample).IntermsofothergoldͲrichVMSdepositsinCanada,thesizeand gradeoftheknownRamblerdepositsarerelativelylow(Figure10Ͳ2).

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Rambler(Ming)Setting

Figure10Ͳ1:Aschematicillustrationofgeologicalsettingandhydrothermalalterationassociatedwith goldͲrichhighsulphidationhydrothermalsystemswithsuggestedRamblersetting(Hanningtonetal 1999). MostCanadianVMSdepositsarecharacterizedbydiscordantstockworkveinsystemsorpipesthat,unless transposed by structure, commonly underlie the massive sulphide lenses (Figure 7Ͳ1), but may also be present in the immediate hanging wall strata. These pipes, comprised of inner chloritized cores surroundedbyanouterzoneofsericitization,occuratthecentreofmoreextensive,discordantalteration zones.ThealterationzonesandpipesystemsoftenhoststringerCpyͲPy/Po±Auandmayextendvertically belowadepositforseveralhundredmetersormaycontinueabovethedepositfortenstohundredsof meters as a discordant alteration zone (Ansil and Noranda deposits). In some cases, the proximal alteration zone and attendant stockwork/pipe vein mineralization connects a series of stacked massive sulphide lenses (Amulet, Noranda, LaRonde, and Bousquet deposits), representing synchronous and/or sequentialphasesoforeformationduringsuccessivebreaksinvolcanicactivity(Galleyetal.,2005).  ThemineraldepositsontheMingCopperͲGoldMinepropertyconsistofstructurallymodified,stratiform, volcanogenic,polymetallicmassivesulphides,andassociatedstringerzonemineralization.Thesulphides contain copper and zinc, with low lead and silver values. The first three deposits that were mined (Rambler Main Mine, Rambler East Mine, and Big Rambler Pond) contained lower copper values of approximatelyonepercent,buttheMingareasulphidescontainhighercoppervalues(3.5%)andabout onepercentzinc.ThesulphidesintheMingMinearealsoenrichedingold,withaveragetenorsof2g/tto 3g/t.

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 Figure10Ͳ2:Grade(gold)–TonnageplotofallCanadianAuͲVMSdeposits(includingtheRambler deposits)andvariousinternationalworldclassdeposits(numbersincludeproduction,reservesand resources)(Dubeetal,2000). TheRamblersulphidedepositshaveundergonestrongdeformationanduppergreenschisttoamphibolite facies metamorphism. The massive sulphide bodies are now thin and elongate down the plunge of the regionallineation(30Ͳ35ºNE).TypicalaspectratiosoflengthdownͲplungetowidthexceed10:1,andthe bodies exhibit mild boudinage along the plunge. The extent of remobilization of sulphides within the depositsisuncertain,butthehighestgradesofcopperandgoldcommonlyoccuradjacenttogabbrodikes thatcutthesulphidebodies.Chalcopyriteisnormallythedominantcoppersulphide.Goldcanoccuras thin,spectacularfracturefillingsofnativegold,bothwithinandperipheraltothemassivesulphides.

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11

Mineralization PolymetallicsulphidedepositsatRamblercontaincopper,zincandminorlead,goldandsilverwithtraces of other metals. Sulphide mineralization in the Rambler area can be classified into various types. This classificationisprimarilybasedondistincthydrothermalalterationassemblages,sulphidemineralogyand associatedtexturalfeatures.  Thevariousmineralizationtypesare: 1. Stratiformvolcanogenicmassivesulphide(MMS); 2. Disseminatedstringersofsulphidesinthelowerfootwallzone(LFZ); 3. Epigenetic, usually shearͲhosted mineralization often found overprinting MMS and LFZ mineralization(Canamera,1997).  AttheMingMine,theMMSislocallyuptothreemetersthickwithastrikelengthofatleast100meters, plunging thirty to thirty five degrees northeast to a vertical depth of at least 1000 meters. The MMS comprisesofmassivepyriteore,bandedore,massivechalcopyriteͲpyrrhotiteoreandbrecciaore(Figure 11Ͳ1).  Massive pyrite ore is less than seventy percent pyrite with chalcopyrite and minor amounts of galena, sphalerite and silicate minerals. Banded ore consists of alternating bands of pyrite and chalcopyriteͲquartzͲactinoliteͲbiotite. Massive chalcopyriteͲpyrrhotite ore occurs as lens and layerswith up to eighty percent chalcopyrite. Minor amounts of arsenopyrite, galena, tetrahedrite, native gold, tennantite and cubanite occur locally. There is up to ten percent disseminated pyrite in the immediate footwall.

 The LFZ comprises mainly of quartzͲchlorite schist, which hosts disseminated and stringer pyrite and chalcopyritewithminorsphalerite,galena,pyrrhotiteandarsenopyrite(Figure11Ͳ2).Itseemsprobable thattheLFZwithdisseminatedsulphidesgradeintolessermineralizedzoneslaterally.  Ramblerhasrecentlyidentifiedanadditionalgoldtargetknownasthe1806Zone.ThisZoneisabaseand precious metal enriched sulfide zone with AuͲAg enrichment similar to many world class Au rich VMS systems.Theoremineralogyofthedepositisdominatedbyvarioussulfide,sulfosalt,nativemetal,and oxidephases.Sulfidesarevariablyrecrystallizedduetodeformationandmetamorphismandarestrongly recrystallized and contact metamorphosed in proximity to younger mafic dykes.  Massive sulfide distal from dyke margins, despite being deformed and recrystallized, are likely representative of the primary VMSbearingassemblagegiventypicalVMSrelatedmineralassemblagesthatdominatesthesulfides(e.g. pyriteͲchalcopyriteͲsphaleriteͲgalena).  These massive sulfides are dominated by variable amounts of sulfide (pyrite, chalcopyrite, sphalerite, galena, and arsenopyrite), sulfosalts (tetrahedrite, boulangerite, stannite, mawsonite, tennantite) and gold.  Massive sulfide that has been recrystallized and contact metamorphism in proximity to mafic dykes are characterized by buckshot textures with abundant pyrrhotiterichsulfideswithpyriteporphyroblasts,andlessersphalerite,chalcopyrite,galena,sulfosalts, andmagnetite.Notably,thesebuckshotoresamplesarerichiniridescentbismuthiniteandhaveavery minoramountofarsenopyrite,muchlowerthanintheprimaryVMSbearingsulphides.Inallcaseswithin this zone, Au is spatially associated with arsenopyrite and sulfosalt phases and the gold is spatially associated with grain margins and not in the cores of mineral grains, suggesting the potential for liberation.WhiledeformationhasplayedaroleinremobilizingandpotentiallyliberatingAu,thestrong associationwitharsenopyrite,SbͲAsrichsulfosalts,andmagmaticelementenrichmentsinassayssuggest

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 thattheAuwasintroducedbymagmaticfluidsandwasnottheproductofanorogenicoverprint.The geological,mineralogical,andchemicalattributesofthemassivesulfidesfromthe1806Zonearesimilar tootherAuͲAgrichVMSsystemsglobally(e.g.BousquetͲLaRonde,EskayCreek,Boliden,MountLyell),but the geological setting, ore mineralogy, and deformation style is most similar to the deposits of the BousquetͲLaRondedistrictinQuebec(Peircey,2009). 

Figure11Ͳ1:MassivepyriteandpyrrhotitewithminorchalcopyriteorefromdrillholeRM06Ͳ04e.

Figure11Ͳ2:DisseminatedandstringerchalcopyriteandminorpyritewithintheLowerFootwallZone (LFZ)fromdrillholeRM07Ͳ08f.

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12

Exploration

12.1 Historical ExplorationdrillinghasoccurredattheMingMineontheRamblerPropertyforaperiodofthirtyyears from1977to2008.Upto31December2008thetotalRamblerdrilldatasetcomprisedof291drillholes foratotalof114,885meters.Thistotaldrilldatasetcomprisesofthreecomponents:  1. Historicalundergrounddrilling(1977Ͳ81):thirtyͲeightholesfor7,206meters; 2. RMMsurfacedrilling(2003Ͳ8):eightyͲsixholesfor85,416meters; 3. RMMundergrounddrilling(2007Ͳ8):onehundredandsixtysevenholesfor22,263meters.  During two campaigns, NovemberͲDecember 2005 and JanuaryͲFebruary 2006, Crone Geophysics and ExplorationLtd.conductedBoreholePulseElectromagneticsurveysonelevendrillholesontheRambler property.Someoftheholeshadnosignificantresponseswhileothershadinterpretedpointingvectorsto moreconductiveand/orthickeraccumulationsofsulphides.Significantoffholeconductivitywasdetected fromholesRM05Ͳ09,RM05Ͳ12,andRM05Ͳ15ofwhichtheresponsefromRM05Ͳ12isjudgedtobethe mostinteresting.  The2005Ͳ2006drillingplustheBoreholeTransientEMgeophysicalprogramhassuggestedthatthebulk ofthemineralpotentialintheMingMinearealieswithina750meterstrikelengthontheMingHorizon and within the underlying MFZ. Within this favorable section, mineralization on the Ming Horizon has beentracedfromsurfacedownplungeforadistanceofmorethantwokilometerstoadepthof1,080 metersbelowsurface,andisstillopendownplunge.MineralizationwithintheMFZhasbeentraceddown plunge more than 500 meters beyond the previous deepest intersections and also remains open down plunge.  During 2008, a bench scale locked cycle test program was developed and managed by Thibault & AssociatesInc.toidentifyacommerciallyviableconcentratorflowsheet,reagentschemeanddesignbasis forprocessequipmentsizing.ThetestprogramwasexecutedbytheResearchandProductivityCouncilof Fredericton, New Brunswick, using ore samples collected by Rambler personnel from the 1600 level massivesulphide.Asecondlockedcycletestprogramwasinitiatedin2009tofurtherdefinetheoptimal reagent scheme for the deposit while including a number of ore variability samples to ensure concentratorflexibility.  Thebulksamplestakenfromthe1600leveland1807zonewereusedtodevelopthereagentschemeand define the flotation process flowsheet for the concentrator. The ore sample from the 1600 level is consideredbyRamblertorepresentaworstcasescenarioforimpuritylevelswhilethemorerecent1807 Zone sample represents the ore type predicated during the initial startup and first two years of production.  The reagent scheme and flowsheet developed through these studies should be capable of processingorefromthevariouszonesinthedeposit.  Alsoduring2008,RamblercommissionedDr.StephenJ.PierceyGeologicalConsultingtovisittheproperty andevaluatedrillcorefromtherecentlydiscoveredgoldrich1806Zone(Piercey,2008).Asapartofthis workdetailedmineralogicaldescriptionswerecompletedonselectthinsectionsfromthecore.Thisnew

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 zone has returned significant intersections of gold and is an integral part of Rambler’s business model. ThepurposeofDr.Piercey'svisitwastoevaluatemassivesulphidesfromthe1806Zonetodeterminethe sulphidemineralogy,theresidenceandlocationofanygoldwithinthelens.Thedataprovidedimportant insights into the genesis of the 1806 Zone and further provided comparisons to other gold rich VMS systemsglobally.TwoimportantfactsderivedfromDr.Piercey’sworkwere:  x Inallcasesgoldisspatiallyassociatedwithgrainmarginsandnotinthecoresofmineralgrains, suggesting the potential for liberation. This association provides Rambler the opportunity to improvegoldrecoverywithfurthertestingofthegoldrich1806zone. x Thegeological,mineralogical,andchemicalattributesofthemassivesulfidesfromthe1806Zone are similar to other gold and copper richVMS systemsglobally(e.g.,BousquetͲLaRonde; Eskay Creek;Boliden;MountLyell),butthegeologicalsetting,oremineralogy,anddeformationstyleis mostsimilartothedepositsoftheBousquetͲLaRondedistrictinQuebec.Thisdistricthoststwo world class gold deposits (Doyon and LaRondeͲPenna) and is one of the most important gold districtsinCanada.  Dr.Piercey’sworkhasprovidedRamblerwithanimportantcornerstonefortheongoinginterpretationof the stratigraphic placement of this gold rich zone within the Ming Massive Sulphide complex. This new insightintogoldoccurrencesthroughouttheMingOreBodyhasallowedRambler’steamofgeologiststo reͲevaluatetheentiredepositinsearchforothergoldrichzonesthatmayhavebeenoverlookedwhile the mine was in production. This work is ongoing and will be an integral part in designing targets for futurediamonddrillingprograms(Figure12Ͳ1).

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Figure12Ͳ1:UndergrounddrillingattheMingMine.



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  QuantecGeoscienceLtdwascommissionedbyRamblerinJuly2008toperformaTitanͲ24DeepSeeking geophysicalsurveytoaidintheRamblerpropertyexplorationprogram.TheintentoftheTitanDCIPand MTsurveywastoprovidesubͲsurfaceresistivityandchargeabilitymappingbothalongstrikeanddown plungeofthehistoricallyproducingMingorebodies(2.1Mtat3.5%Cuand0.07oz/tonAu).Thesurvey wasdesignedtotestthefavorableMingHorizonalongstrikeofthehighgradeMingorebodies(Figure 12Ͳ2).TheRamblerPropertycovers2,400metersofstrikelengthoftheMingHorizonofwhichonly500 meters had been previously tested at shallow depths. The area hosts significant potential for further discoveriesbothdownplungeandadjacenttotheknowndeposits.  AtotalofseventyͲsevenseparateDC,IPandMTanomaliesofvaryingsignificancewereidentifiedonthe nine survey profiles completed by Quantec (Figure 12Ͳ2). Two of these anomalies are deemed high priority and are represented by multiͲparameter (MT+DC+IP) anomalies with low resistivity and high chargeability indicative of highly conductive zones similar to the Ming ore bodies. One of these, target L18Ͳ1, deemed high priority is a +80.0 millirad chargeability anomaly and occurs approximately 300 metersbelow theMingHorizonandhasanapparentstrikelengthof200metersandaplungeof500+ meters (Figure 12Ͳ3). The second +80.0 millirad, target L27F chargeability anomaly occurs higher in the stratigraphyabovetheMingHorizonapproximately150metersbelowsurface.TwentyͲeight(28)others weredeemedsecondpriorityandrepresentedbyvaryingdegreesofchargeabilityandresistivity.ThirtyͲ five(35)wereclassifiedasthirdpriority,whiletwelve(12)weredeemedlowpriorityanomalies.  During2009RamblerdrilltestedthehighprioritytargetL18Ͳ1locatedbelowthemainmineralizedMing Horizon.Thetwodrillholes(RM09Ͳ22andRM09Ͳ23)drilledin2009didnotexplainthelargeanomalous areaoflowresistivityandhighconductivity(Figure12Ͳ4).Duetothedisappointingresultstheremainder ofthe2009drillprogramtotestotherTitananomalieswasabandonedanditwasdecidedtohavefurther interpretation of the Titan data completed by the consulting company Mira Geoscience. The interpretationwascompletedintwophasesbyMira.  ThescopeoftheMiraPhaseIworkwastoevaluatetheintegrityandusefulnessoftheoriginalTitandata to resolve massive sulphide or stringer type accumulations similar to those already known in the Ming deposit.  As a result of the negative results from the two drillholes completed on target L18I, Rambler needed to understand the reliability and usefulness of the Titan data as a tool to design future drill targets.Intheirreviewandassessmentprocess,Miracompletedphysicalpropertyanalysis,3Dsensitivity forwardmodelinganalysisandalsoconstrained2DinversionsonseveraloftheTitanlines.

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 Figure12Ͳ2:2008Titan24geophysicalsurveylines.

Figure12Ͳ3:2008Titan24AnomalyA18Ͳ1.

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 Figure12Ͳ4:Locationof2009DiamondDrillholesRM09Ͳ22andRM09Ͳ23. The Phase I assessment by Mira concluded that mineralized zones in the Rambler Camp have a 2Ͳ5% signalandcanbedetectedyetmightnotberesolvedina2Dinversion.Theshallowdipandnarrowpencil shapedgeometryofsulphidezones,alongwiththe3Dnatureofthegeologyintheareaalsohindersthe resolutionofmassivesulphidesby2Dinversions.Mirasuggestedthat3Dinversionsbecompletedonthe TitanlinesthattesttheshallowerdepthsoftheRamblerstratigraphy.The3Dinversionofthedatasetwill highlightthelocationofthefavorableMinghangingwall/footwallcontactalongstrikefromtheminearea. Thelocationofthiscontactisimportantif2Dor3DinversionsshowanyindicationsofDCorIPanomalous areasnearthiscontact.  The Phase II work by Mira was designed to complete 3D inversions of the 9 Titan spreads and better define areas of anomalous resistivity and chargeability. The Phase II interpretation concluded that the TitansurveydiddetecttheRamblermineclosetosurfaceintheconductivityinversionresult.  The results of the Mira Phase II interpretation were very encouraging. In Figure 12Ͳ5 areas of lower resistivity, indicated by red arrows, occur below the Ming West zone and the Main Ming zone and the yellowarrowsindicateareasofinterestwhichlietotheeastoftheMainMingmineralizedcorridor.The areasbelowthemoremassiveMinghorizonsmayrepresentfootwallstringerzones.Thezonetotheeast ofthemainmineralizedcorridorisnotassociatedwithanyknownmineralizationandcertainlyrequires followͲup. In the northeast end of the Titan survey grid the stratigraphy appears to have been uplifted possiblyduetotheinfluenceoftheScrapeThrustFaultwhichtransectsthearea(Figure12Ͳ5).TheYellow arrowsinthisarearepresentareasoflowresistivitythatwillrequirefollowͲup.  In Figure 12Ͳ6 below, a 60 msec isoͲsurface from the chargeability inversion from the Mira report as highlightedseveralareasofinterest.Thetworedarrowsaresuspect.Thetwoyellowarrowsandoneblue arrowhighlightareasofinterestthatoccurabovetheMainmineralizedMinghorizoninthehangingwall volcanicsequence.

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 Figure12Ͳ5:MiraGeoscience3DInversionresultsͲconductivitymodelwithnearsurfacesmallbodies removed.ThisviewlooksdowntheplungeoftheMingMine. Note:

Theorangebodyistheisosurfaceforaconductivityof0.001Siemensthatislessthan1000OhmͲm.Note theapophysesoflowerresistivitymaterialsittingbelowtheknownmineralizationmarkedbyredarrows. Theyellowarrowsmarksimilarzonesthatmaybetargetsofinterest.(MiraGeoscience)

  Figure12Ͳ6:MiraGeoscience3DInversionresultsͲchargeabilitymodelalongstrikeofRambler mineralization. Note:

The60msecisoͲsurfaceshownasgreenͲyellowbodies.Thetwozonesonthefrontrightandleftmaybe suspect(red“?”),astheylieattheperipheryofthesurveyareadefinedbytheelectrodesonsurface.Two zones plunging sub parallel to the Rambler mineralization are noted above and to the left (NW) of the

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 Ramblermineralization(yellow,1).Thezonetotheright(SE)andabovethemineralizationhasaflatdip, whichisunexplained(Blue,2).  Nootherknownsourceofconductivematerial(suchasgraphite)hasbeenreportedintheRamblerCamp fromundergrounddevelopmentordiamonddrilling.ThereforeRamblerMetalsandMiningisconfident that a number of the anomalous zones defined by the Titan survey and highlighted by the Mira interpretationarearesultofaccumulationsofdisseminated,stringerormassivesulphidessimilartothe knownmineralizationintheRamblerCamp.Afterfullevaluationofalloftheanomaliesadrillprogram willbedesignedin2010totestthosedeterminedtobeofthehighestpotentialfornewdiscoveries.

12.2 Future A key focus in mineral exploration is to complete advanced exploration over existing brownfield mine sites and near mine site properties.  The potential of finding new ore zones within the shadow of a headframe is not only highly prospective geologically, but it also makes more economic sense to make newdiscoveriesnearexistingmininginfrastructure.ThisistheplanthatRamblerintendstofollowinthe nearfuture.  TheTitan24surveyhasproveneffectiveindetectingmineralizationandalterationassociatedwithVMS deposits and discriminates large targets with greater tonnage potential from smaller targets.  After full evaluation of all of the anomalies generated by the Titan 24 survey a drill program will be designed in 2010totestthosethataredeterminedtobeofthehighestpotentialfornewdiscoveries.  RamblerisalsopresentlycompilingallhistoricalandmorerecentexplorationdataovertheMingProperty inageospatialenvironmentsothatalldatasetsandknownrockpropertiescanbeseamlesslyintegrated. Inthissense,theRamblerPropertycanbefullyevaluatedusinggeochemistry,geophysicsandgeologyto betterdefinefuturedrilltargetsandincreasethechanceofsuccess.

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13

Drilling

13.1 Introduction Fromtheperiod1977to2009atotalof114,885metersofsurfaceandundergroundexplorationdrilling has been completed at the Ming Mine. A table outlining both historical drilling and RMM drilling is summarizedinTable13Ͳ1.  Consolidated Rambler Mines Limited (CRML) drilled unsurveyed diamond drill holes from underground platformsduring1977to1981(sectionallocationsillustratedinFigure13Ͳ1targetingtheLowerFootwall Zone(LFZ)).Duringtheperiod2003to2005,RMMdrilledaseriesofwidelyspaceddiamonddrillholesto delineatedownͲplungeextensionsoftheLFZaswellastheMingMassiveSulphidehorizon(MMS).This phaseofdrillingproducedNQdiametercoreandwascharacterizedbyadetaileddownholeReflexsurvey performedaftercompletionofeachdrillhole.  RMMutilizedtheDevicosteerablecorebarrelsystemtoprovidedetaileddirectionalNQdiametersurface core drilling of the MMS and LFZ targets for the period January 2006 to March 2008. This surface directionalprogramfocusedonexploringthepotentialofthe1807MSzoneaswellasthemainMingMS andLFZ.Figure13Ͳ1demonstratestheDevicodirectionaldrillholewiththeassociated‘motherhole’and fanned‘daughterholes’.Thismethodprovedveryusefulinaccuratelyintersectingdeeptargets.  UndergrounddrillinghasoccurredattheMingMinefortheperiodNovember2007toDecember2008. ThisprogramfocusedonthedelineationoftheLFZ,ofneardevelopmentMMSzonesaswellaspotential highͲgrade gold mineralization associated with MMS zones. A total of 167 underground diamond drill holeswerecompletedoverthisperiodforatotalof22,263metersofdrillcore.  Intotal,291drillholeswithLFZand/orMMSintersectionhavebeendrilledtoDecember31,2008(which isthetemporaryshutdowndatefordrillingontheRMMpropertyforthepurposesofthisreport)yielding some114,885metersofdiamonddrillcore.  TheMingorebodyplunges30to35degreestothenortheasttoaverticaldepthofatleast1000meters. DiamonddrillholesweredesignedtointersecttheLFZand/orMMSatthebestpossibleangleandthisis easilyachievablewithdirectionaldrilling.Undergrounddrillinganglesweresomewhatofachallengedue to the spatial limitations associated with drilling underground. Undergrounddrill holes planned totest the1806goldzoneareonaverage50%truethicknessduetorestrictedundergrounddrillinglocations.    



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 Table13Ͳ1:AtabulationofdiamonddrillingactivitiesconductedattheMingMine.Summaryofallexploration drillingontheMingMine(1977Ͳ2009): (diamonddrilldatausedinresourceestimation)



Year

Company

Target

Type

1977Ͳ1981

CRML

LFZ

UG,notsurveyed subtotal

Numberof Holes

Meters

38

7,206

38

7,206

2003

RMM

LFZ+MS

Surface,surveyed

3

3,849

2004 2005 2006 2007Ͳ8 2007Ͳ8

RMM RMM RMM RMM RMM

LFZ+MS LFZ+MS LFZ+MS LFZ+MS LFZ+MS

Surface,surveyed Surface,surveyed Surface,directional Surface,directional UG,Surveyed

2 12 27 42 167

2,684 12,947 29,401 36,535 22,263

2009

RMM

Titan24

Surface,surveyed

2

1,062

subtotal

255

108,741

total

293

115,947



13.2 DrillingPatternandDensity A section looking west depicting all diamond drilling conducted at the Ming Mine from 2003 Ͳ 2008 is illustratedinFigure13Ͳ1.  CRMLdrilledatotalofthirtyͲeightundergrounddiamonddrillholesfromexistingundergroundlocations foratotalof7,206meters.Nodownholedrillsurveyrecordsexistforthisdrillprogram,consequentlyan elementofuncertaintyexistsforthe3Dlocationofthisdata.Theseholesweredrilledatapproximately thirtytofortymeterspacingalongundergroundsections.



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 Figure13Ͳ1:SectionlookingwestshowingdrillingattheMingMinefrom2003Ͳ2008. RMMhasdrilledatotalof88surfacedrillholesforatotalof85,416metersdrilledfrom2003to2009. Prior to January 2006, the main priority of diamond drilling was definition drilling of the Ming horizon massivesulphideandthereforeawideͲspaceddrillingarraywasutilized.Theseholeswerecharacterized bydownholereflexsurveys(the‘nonͲclustered’drillinginFigure13Ͳ2).  FromJanuary2006toApril2008,furtherdefinitionofMSzoneswarrantedacloserspacedsurfacedrill programtodefinetheMingMassiveSulphideaswellasthemineralizedLowerFootwallZone,withthe latter being the priority. This closerͲspaced, deep drilling was accomplished using the Devico direction drillingtool.These‘Devicofans’asseeninFigure13Ͳ1providedintersectionspacingbetweentwentyfive tofortymeters.  Commencing November 2007 and concluding December 2008, Rambler contributed a total of 167 underground holes for a total of 22,263 meters of drilled core. RMM’s underground drill program was initiallydesignedtotestthemineralizedfootwallzonefromappropriateundergroundplatformsinsync withtheminedewateringprogram,onfiftymeterdrillcenters.InfilldrillingontwentyͲfivemeterspacing was completed on the higher grade footwall zones in order to satisfy measured classification resource requirements. This underground drill program also provided an opportunity to further test the up and down plunge extensions of the Ming South zone, the 1807 zone, as well as potential highͲgrade gold mineralization associated with MMS zones (1806 zone). These MMS drill holes were characterized by maximum intersection spacings of twentyͲfive meters (Figure 13Ͳ2). All underground holes are characterizedbydownholereflexsurveys.

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 Figure13Ͳ2:AplanshowingthetotalMingdrillholedatabaseinrelationtothemaindecline. 

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14

Samplingapproachandmethodology

14.1 Introduction The following is a summary of the sampling approach and methodology employed by RMM from the period 2006Ͳ2009 and is thought to be representative of all sampling completed by RMM during the period2003Ͳ2009.Historicaldrillholesampling(CRML,1977Ͳ1981)methodologiesareunavailable. AlldiamonddrillcoreisdescriptivelydigitallyloggedonsiteusingtheCenturySystemsDHLoggersystem. Thecoreisinspectedandrecordedforlostcore,fracturedensityanddigitalphotographsaretaken.The coreisalignedandmarkedforsamplingandsplitinhalflongitudinally,usingadiamondsawblade.One half of the core is preserved in core boxes as a core library for future reference. The other half of the sample is bagged, tagged, sealed and delivered by RMM personnel to Eastern Analytical laboratory, in Springdale, NL. Sample rejects and pulps are picked up by RMM personnel at Eastern Analytical and rejectsarestoredattheRMMsite.SamplepulpsaresenttoActivationLaboratories(ActLabs)ofAncaster, Ontarioforfurtheranalysis.AssaysreturnedfromEasternAnalyticalareusedasaquickmethodforthe purposesofdefiningexplorationtargetsanddrillholeplanning,whileassaysreturnedfromActLabsare thefinalresultsusedforresourcecalculations. Mineralized core is typically divided into 1.0 meter lengths or shorter based on geological and/or structuralcontacts.Unmineralizedcoreisdividedinto1.5meterlengths.Wingsamplesareinsertedwhen appropriate. Core recovery is estimated to be 98Ͳ99% resulting in samples which are an accurate representationofonehalfofthecorethatissentforassay. Underground mine sampling at RMM during 2008 consisted of chip, channel, grab and muck sampling which are used for grade estimation of existing pillars and rounds as well as grade estimates on new development completed at the Ming Mine. Survey points are taken at the beginning and end of each chip/channel sample to record all sample locations. The procedure for chip and channel sampling generally involved dividing samples based on lithology with sample widths not exceeding 1.0 meter. Samples are marked out perpendicular to the local orientation of geology and chipped or channeled accordingly(Figure14Ͳ1).Grabsaresamplestakenbyageologist,atrandom,whereitwasfeltthatthere maybepotentialforgrade.Mucksaresamplesthataretakenunbiasedfromapileofmuckthathasbeen dumpedinadesignatedareaonsurfaceorunderground.Itisnotedthatonlyonechipsampleandone channelsamplehavebeenincludedinthisNI43Ͳ101ResourceUpdate. AlloftheaboveproceduresarecompletedbyRMMpersonnel,whoalsodeterminethespecificgravityof samples. The results of drill hole logging, assay results and other relevant drillhole information such as surveysarerecordedinDHLogger(CenturySystems)format.SeeAppendix1forRMMdatabasescreen captures.ThisdataiseasilyimportedtotheDatamine3Dmodelingprogram.

 

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 Figure14Ͳ1:Representationofchip/channelsamplingatMingMine.

14.2UnminedAreasandRemnantPillars To evaluate the unmined and remnant pillar resource at the Ming Mine, Rambler Metals and Mining compiled and reviewed all available documentation relating to the operation and closure of the Ming Mine. In validating the original CRML unmined reserves, Rambler personnel geoͲreferenced and digitized the unminedareasfromthescaledminedrawingsusingArcGISsoftware.Figure14Ͳ2isoneoftheoriginal geologydrawingsforthe1700to2600levelsoftheMingMineoutliningtheunminedareaswithtonsand gradeforeachblock.Figure14Ͳ3showsa3Dorthogonalviewoftheunminedareasbelowthe2200level. The digitized unmined areas were then imported and modeled as individual blocks in 3D Datamine software. The orignal tonnes and grade applied to each unmined block by CRML were checked for accuracy by Rambler by applying an average thickness and grade determined from the original encompassingminedoutstopeandlevelaccessplans.Aspecificgravityof3.8g/cm3wasappliedbased on CRML historical documentation. The original unmined resource blocks determined by CRML only reportedcoppergrades.GoldgradeswerereportedinmonthlyreservecalculationsbyCRMLbyapplying the grade determined from monthly metallurgical balance sheets. Rambler used the original monthly reservecalculationsandthemetallurgicalbalancesheetsinthehistoricaldatasettoapplyagoldgradeto the unmined resources. Rambler Metals and Mining has checked the accuracy of the original tons and gradesappliedbyCRMLfortheunminedareasbydigitizingselectiveblocksandcalculatinggradesfrom stope plans with reported advance face grades. The tons calculated by Rambler for the unmined areas werewithin1.58%difference,whilethecopperandgoldgradeswerewithin3.5%difference.

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 Figure14Ͳ2:Historicalundergroundmapplans(overlay)showingremainingpillarsandunminedareas between1805leveland2600level,MingMine.

 Figure14Ͳ3:3Dviewofunminedareasandremainingpillarsfrom2200levelto2600Lwithrespectto undergroundmineworkings.

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 TheinͲhouseremnantpillardataset,whichRamblerobtainedfromtheCRMLvault,wasnotcompletefor stope plans showing tons and grade above the 1100 level of the Ming Mine. Above the 1100 level, RamblerreliedonplanmapsfromtheDepartmentofMinesandEnergyshowingtonsandgrade(Cu% only) to calculate the remnant pillar resource. These plan maps were copies of the original dataset submittedtotheDepartmentofMinesuponclosureoftheMingMinein1982.TheDepartmentofMines had used the mine plans with stope plans to determine a pillar resource in 1993 for the Ming Mine Property. To validate the remnant pillar resource, Rambler digitized all remaining pillars and calculated volumes(ft3).Thecoppergradeswerecheckedagainststopeplangradesbelowthe100level.Insufficient informationwasavailabletoapplyagoldgradetotheremnantpillars.Thevolumecalculationandgrade verificationbyRamblerwascomparabletothevolumeandgradecalculatedonmineplanmapsbythe DepartmentofMinesorfromoriginalCRMLstopeplans.Duetoalackofacompletedatasettheremnant pillarresourceasbeenclassifiedasaninferredresourceandwillnotbeusedinthisreportaspartofthe economicplan.  TheresultsofthevalidationoftheunminedandremnantpillarresourcesbyRamblerMetalsandMining iscomparabletothoseunminedandremnantpillarresourcesreportedasreservesbyCRMLuponclosure oftheMingMineinApril,1982. ItistheopinionofDaveBarbour,P.Geo,whoisthequalifyingpersonforthepurposeofthisreport,that theresourceevaluationreportedhereinoftheunminedandremnantpillarareasoftheMingMinearea reasonablerepresentationofthemineralresourcesoriginallycalculatedbyCRMLandtheNewfoundland Department of Mines. The mineral resource reported herein for the unmined areas represents the remaining intact rock as determined from the original final mine plans and evaluated in Datamine wireframemodelsandathoroughreviewoftheoriginaldocumentationfromtheoperationalperiodof theMingMine.Ramblerhascompiledandpreservedalloftheavailableoriginalminingdocumentation from the operational period of the Ming Mine from 1971 to 1982. Table 14Ͳ1 outlines the indicated resourcesinunminedareasandtheinferredresourceoftheremnantpillarareasoftheMingMine.The copper grade for the unmined areas is as per CRML original mine plans which have been checked by Rambler Metals and Mining. The gold grade for the unmined areas is as per CRML original monthly reservecalculationsheetsasdefinedbymetallurgicalbalancesheets.Thecoppergradesfortheinferred remnantpillarresourcewasdeterminedfromthemineplanssuppliedbytheNewfoundlandDepartment ofMines.               

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  Table14Ͳ1:IndicatedresourceforunminedareasandinferredresourceofremnantpillarareasoftheMingMine UnminedLevelsIndicatedResource,MingMine Level CRMLApril1982Tons(short) RMMReͲcalculatedTonnes(metric)

Cu%

Aug/t

1805 1985 2200 2300 2400 2500 2600

9,697 15,113 3,684 8,848 38,419 36,260 34,680

8,748 12,888 3,153 7,913 33,449 29,419 29,154

2.55 3.08 2.76 1.86 2.13 2.84 2.18

1.89 2.00 2.00 2.00 2.00 2.00 2.00

Total

146,701

124,725

2.43

1.99

RMMReͲcalculatedTonnes(metric)

Cu%

Aug/t

RemnantPillarsInferredResource,MingMine Level CRMLApril1982Tons(short) 1985N 1985S 1900N 1900S 1804N 1802S 1700 1600 1500 1400 1300 1200 1100 1020 920 830 740 650 320 220 140 65 40

27,820 10,633 51,781 6,307 14,107 1,646 16,201 41,255 19,231 6,421 17,697 9,457 11,785 630 3,114 2,950 6,946 2,016 16,772 17,601 9,085 5,135 3,148

25,238 9,646 46,974 5,721 12,797 1,493 14,698 37,426 17,446 5,825 16,054 8,579 10,691 572 2,825 2,676 6,301 1,829 15,216 15,968 8,242 4,658 2,856

4.67 3.19 4.25 2.68 3.99 2.39 3.53 3.99 4.02 3.75 3.64 3.02 3.01 3.51 3.35 3.48 3.57 4.10 5.01 4.76 3.47 2.43 2.12

2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00

Total

301,738

273,731

3.94

2.00

 *Note:Coppergradesforbothunminedandpillarareasweredeterminedfromgradesreportedonoriginalminestopeplansandpillargradesfromthehistorical dataset.GoldgradesforbothunminedandpillarareaswereappliedusinghistoricalmetallurgicalbalancesheetsconsistentwithCRMLgradesapplied.

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 14.3 Samplingprotocols SummarystatisticsforsamplelengthswithinthesixmodeledzonesattheMingMineareshowninTable 14Ͳ1.AhigherdegreeofvarianceisrecordedinsamplelengthsfromtheMingSouthDownPlunge(MSDP) and1807zonesrelativetoUpperFootwall(UFZ),LowerFootwall(LFZ),MingSouthUpPlunge(MSUP)and 1806 zones. This is likely due to the local variations in thickness and nature of the massive sulphide horizon. Less sample length variance is recorded in the Upper and Lower Footwall zones with the LFZ being sampled predominantly at 1.0 meter and the UFZ being sampled predominantly ay 1.5 meters. Within the 1806 zone a small sample length variance is also recorded with the majority of samples measuring1.0meter. Table14Ͳ2:StatisticsofthesampledrillinglengthsfromwithinthesixmodeledzonesattheMingMine. Statistic Mean StandardError Median Mode StandardDeviation SampleVariance Kurtosis Skewness Range Minimum Maximum Sum Count

UFZ

LFZ

MSUP

MSDP

1807

1806

1.37 0.04 1.50 1.50 0.31 0.10 1.70 Ͳ0.67 1.95 0.35 2.30 97.04

1.09 0.00 1.00 1.00 0.26 0.07 1.03 0.54 2.20 0.20 2.40 7487.20

0.83 0.03 0.93 1.00 0.30 0.09 0.91 Ͳ0.08 1.80 0.10 1.90 92.80

1.18 0.03 1.17 1.50 0.41 0.17 Ͳ0.04 Ͳ0.58 1.95 0.10 2.05 239.77

0.88 0.03 1.00 1.00 0.39 0.15 Ͳ0.08 0.13 1.75 0.15 1.90 126.57

0.94 0.01 1.00 1.00 0.21 0.04 2.90 Ͳ0.93 1.39 0.11 1.50 619.77

71

6867

112

203

144

661

 HistogramsofsamplingintervalsfromthecombinedRamblerexplorationprogramsextractedforthesix modeledzonesareshowninFigure14Ͳ2a,bandc.

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Frequency

a)

LowerFootwallZone(LFZ) HistogramofSamplelengthswithinmodelledmassives n=6,867 5000

100.00%

4500

90.00%

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80.00%

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70.00%

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  b)

UpperFootwallZone(UFZ) HistogramofSamplelengthswithinmodelledmassives n=71 100.00%

35

90.00% 30 80.00%

Frequency

25

70.00% 60.00%

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50.00% 15

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Figure14Ͳ4a)Histogramofsampledlengthsfromwithinthea)LFZandb)UFZ.

More



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 a)

MingSouthUpPlunge(MSUP) HistogramofSamplelengthswithinmodelledmassives n=112 100%

60

90% 50

80% 70%

Frequency

40

60% 30

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  MingSouthDownPlunge HistogramofSamplelengthswithinmodelledmassives n=203

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b)

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More

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 Figure14Ͳ4b)Histogramofsampledlengthsfromwithinthea)MingSouthUpPlungeandb)Ming SouthDownPlunge.

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Frequency

a)

1806Zone HistogramofSamplelengthswithinmodelledmassives n=661 500

100%

450

90%

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80%

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  b)

1807Zone HistogramofSamplelengthswithinmodelledmassives n=144 60

100%

50

80%

Frequency

40 60% 30 40% 20 20%

10

0

0% 0

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 Figure14Ͳ4c)Histogramofsampledlengthsfromwithinthea)1806Zoneandb)1807Zone.

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15

SamplePreparation,AnalysesandSecurity

15.1 SamplePreparationandAnalyses Two analytical laboratories are used to undertake sample preparation and analytical analyses of RMM sampled drill core.  Sample preparation and initial analytical analyses is done by Eastern Analytical Ltd (Eastern) in Springdale, Newfoundland, whereas final analytical analyses are done by Activation LaboratoriesLtd(ActLabs)ofAncaster,Ontario.  Mingcoreissecurelystoredinanenclosedlockedcorehandlingarea.Drillcoreisdeliveredtothecore shed at the end of each drilling shift. Thedrill core is logged, marked for sampling, sawed, baggedand uniquely tagged. Samples are dropped off at Eastern Analytical by RMM staff, where there are dried, crushedandpulped.Samplesarecrushedtoapproximatelyminus10meshandsplitusingariflesplitter toapproximately300grams.Aringmillis usedtopulverizethesamplesplitto98%passingminus150 mesh. Blanks samples are inserted after every sample estimated to contain greater than two percent copper grade. Duplicate samples and standard samples are inserted alternately one per ten samples. Easternappliesafireassaymethodfollowedbyaciddigestionandanalysesbyatomicabsorptionfinish for copper, lead, zinc, nickel and cobalt analyses. The results received from Eastern are used for initial gradeestimates.  SamplepulpsandrejectsarepickedupatEasternbyRMMstaffandreturneddirectlytotheprojectsite. Sample pulpsare checked, packed and sent by courier to ActLabs for final analyses. Sample rejects are securelystoredattheRamblersite.  ActLabs uses a fire assay fusion followed by acid digestion and analyses by atomic absorption for gold analyses(ActLabscode1A2).Ifagoldassayexceeds3,000ppband/orsilverexceeds100ppmareanalysis ofafireassayfusionwithgravimetricfinishisconducted(ActLabscode1A3).Othermetalsareanalyzed byapplyinganaciddigestionand34elementICPanalysisfinish(ActLabscode1E3).TheActLabsQuality System is accredited to international quality standards through International Organization for Standardization/InternationalElectrotechnicalCommission(ISO/IEC)17025(ISO/IEC17025includesISO 9001andISO9002specifications)withCANͲPͲ1579(MineralAnalysis)forspecificregisteredtestsbythe StandardsCouncilofCanada(SCC).  There are no records documenting the procedures used to collect historical face chip samples or muck samples from stoping or diamond drill core sampling during the operational era of the Ming Mine. Diamonddrillandminesampleswerepreparedandassayedattheminelaboratoryusingundocumented assaying procedures. Several of the remnant pillars including levels 1600, 1700 and 2300 were chip sampledbyRamblerMetalsandMiningandsentforassaytoActlabsofLancaster,Ontariofor30element ICPandoverlimitassaysbyFAAprocedures.TheresultsfromthepillarsamplingwascomparabletonearͲ bystopesamplesassayedbyCRMLduringtheoperationperiodoftheMingMine.

15.2 Qualityassuranceandqualitycontrolprogram The quality assurance and quality control program and procedures in use at the Rambler property guaranteesthatexplorationdatacollectedadherestoNI43Ͳ101qualitycriteriaandrequirements.RMM

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 maintains written field procedures and has had independent verifications of aspects such as drilling, surveying,samplingandassaying,databasemanagementanddatabaseintegrity.  Analytical control measures in use at RMM involve both internal and external laboratory measures implementedtoensurethatdatareceivedfromoutsidesourcesareaccurateandreliable.RMMmakes use of the database management program DHLogger which is very effective and efficient at managing assaydataaswellasQAQCtrackingandreporting.Arepresentativenumberofassaycertificateswere comparedtodigitalassaydatabaseforthepurposesofthisreportandnodiscrepancieswerefound.Itis worthnotingthatqualityassuranceandqualitycontrolreportsfromEasternAnalyticalandActLabshave been reviewed in June 12, 2008 SRK Report, Mineral Resource Estimate for the Ming Mine, Newfoundland. SRK reported that “no discrepancies between assay certificates and the digital assay database(were)found”.  CheckassaysfortheRamblerpropertyareroutinelyconductedbybothActLabsandEasternAnalytical.It isreportedthattodatefivebatchesofsampleshavebeenrerunbyActLabs,whichdidsoontheirown initiativebecauseoffailuretoproducethepropervaluesontheirowninternalstandards.  A series of nine certified copper and gold external standards have been inserted by RMM staff. These standardsandtheirvariousvalueshavebeentabulatedinTable15Ͳ1.  Table15Ͳ1:ExternalstandardsusedbyRamblerattheMingExplorationProgram.



Standard

Cu%

StdDev

Augpt

StdDev

CDNͲCGSͲ4 CDNͲCGSͲ3 CDNͲCGSͲ6 CDNͲCGSͲ2 CDNͲCGSͲ12 CDNͲCGSͲ10 CDNͲCGSͲ15 CDNͲCMͲ2 CDNͲHCͲ2

1.947 0.646 0.318 1.177 0.265 1.55 0.451 1.013 4.63

0.062 0.031 0.018 0.046 0.015 0.07 0.02 0.043 0.26

2.09 0.53 0.26 0.97 0.29 1.73 0.57 1.42 1.67

0.15 0.048 0.03 0.092 0.04 0.15 0.06 0.13 0.12





 Various plots showing the performance of the laboratories against these standards is presented in Appendix 1. The majority of data plot within two standard deviations of the certified value. Standards CDNͲCGSͲ15 and CDNͲCMͲ2 contain numerous samples that are more than two standard deviations belowtheacceptedvalue.Itisnotedthatavalueaveragewascalculatedanddemonstratesthatcopper values for this standard assay consistently lower than the accepted value. Standard CDNͲCGSͲ10, CDNͲ CGSͲ12, CDNͲCGSͲ15 and CDNͲHCͲ2 contained several gold values that exceed two standard deviations fromthecertifiedvalues.RMMdoesnothoweverregardthisassignificant.  Rambler has submitted a total of 11,357 samples to both Eastern and ActLabs. The Eastern grades are usedforinitialreportingpurposes,whereastheActLabscertifiedresultsoverwriteEasternresultswhen available and are used for resource estimation purposes. Plots showing the comparative results for

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 copper and gold from Eastern and ActLabs are presented in Figure 15Ͳ1. As expected, copper grades comparewellwhereasahighervarianceexistsforgold.  A total of 186 blanks were inserted into the sample stream. The laboratories performed satisfactorily againsttheseblanks.Plotsoftheseblanks(forgoldandcopper)areinsertedintoAppendix1. 

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ActLabsandEasternCopperGrades(%) n:11357 30

ActivationLabratoriesGarde(Cu%)

25

20

15

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5

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 ActLabsandEasternGoldGrades(g/t) n:11357 100 ActivationLaboratoriesGrade(Aug/t)

90 80 70 60 50 40 30 20 10 0 0

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 Figure15Ͳ1:AcomparisonofActLabsandEasterncopperandgoldgradesfor11,357samples.

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15.3Specificgravitydatabase TheRMMspecificgravity(SG)databaseconsistsof8188recordsofwhich5361recordsfallwithinthesix modeled zones. For the period 2006 to 2007, specific gravity (SG) measurements using the water submersionmethodweretakenonalldrillcoresamples.In2008,SGmeasurementswerecompletedon drillcoresamplesfromeveryseconddrillhole.ItisbelievedthattheRMMSGdatabaseisrepresentative of the respective six modeled zones at the Ming Mine. Due to the scarcity of SG measurements taken withintheMingNorthZone,itwasdeterminedthattheMSDPspecificgravityvaluewouldbeappliedto the Ming North Zone. Rambler Metals and Mining feels that this value is representative based on similaritiesinmineralizationtype.  TabulatedstatisticsofthespecificgravityfordatawithinthesixmodeledorezonesareshowninTable 15Ͳ2. Histograms of the SG measurement data from the six modeled zones are illustrated in Figure 15Ͳ 2a,b and c. For the calculation of unmined and pillar resource a specific gravity of 3.8 g/cm3 was used based CRML historial documentation. The weighted averages for SG values for use in the resource modelingofthesixmodeledzonesattheMingMineareasfollows: UFZ:3.07gcm3(from44samples); LFZ:2.83gcm3(from4646samples); MSUP:3.35gcm3(from94samples); MSDP:3.20gcm3(from255samples); 1807Zone:3.52gcm3(from140samples); 1806Zone:3.03gcm3(from140samples).  Table15Ͳ2:Statisticsofthespecificgravitydatabaseforvariousmodeledorezones. x x x x x x

Statistic Mean StandardError Median Mode StandardDeviation SampleVariance Kurtosis Skewness Range Minimum Maximum Sum Count

UFZ

LFZ

MSUP

MSDP

1807

1806

3.10 0.05 2.95 2.90 0.33 0.11 2.12 1.63 1.37 2.82 4.20 136.27

2.83 0.00 2.82 2.80 0.14 0.02 86.47 Ͳ2.37 4.27 1.05 5.32 13129.06

3.39 0.07 3.00 4.43 0.68 0.46 Ͳ1.31 0.66 1.96 2.72 4.68 318.41

3.32 0.04 3.13 3.13 0.65 0.43 Ͳ0.47 0.99 2.13 2.68 4.81 847.24

3.53 0.07 3.02 2.98 0.77 0.59 Ͳ1.60 0.46 2.07 2.70 4.77 494.58

3.07 0.03 2.88 2.75 0.48 0.23 2.72 1.94 2.21 2.61 4.82 734.73

44

4646

94

255

140

239



www.ramblermines.com

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HistogramofUpperFootwallZoneSGmeasurements n=44 15

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100%

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HistogramofLowerFootwallZoneSGmeasurements n=4646 2500 2031

100%

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1.00

0%

LowerFootwallZoneSG's  Figure15Ͳ2a:Histogramsofspecificgravitydataforthea)UFZsamples,b)LFZsamples

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HistogramofMingSouthUpPlungeSGmeasurements n=94 100% 22

25

80%

15

60%

10

40% 6 4

2

0

0

0

0

0

1

1

2 1

20%

3

3

5

4

4

4

6

6

8

Frequency

17

20

0% More

4.80

4.70

4.60

4.50

4.40

4.30

4.20

4.10

4.00

3.90

3.80

3.70

3.60

3.50

3.40

3.30

3.20

3.10

3.00

2.90

2.80

0

MingSouthUpPlungeSG's

 b)

HistogramofMingSouthDownPlungeSGmeasurements n=255 80 70

100%

70 80%

50

60%

40 40%

27

30

20

Frequency

49

60

14

20

8

8

6

1

0

4

2

2

4 0

1

3

1

0

3

4

6

10

5

8

9

20%

0 More

4.90

4.80

4.70

4.60

4.50

4.40

4.30

4.20

4.10

4.00

3.90

3.80

3.70

3.60

3.50

3.40

3.30

3.20

3.10

3.00

2.90

2.80

2.70

2.60

0%

MingSouthDownPlungeSG's

 Figure15Ͳ2b:Histogramsofspecificgravitydataforthea)MingSouthUpPlungesamples,b)MingSouthDown Plungesamples

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Histogramof1807ZoneSGmeasurements n=140 100%

27

30

25 20

80% 18

15

60%

15

9

40% 8

10

5

6

8

Frequency

20

4

20%

1

2

3 1

1

1

0

0

1

1

1

2

3

3

5

0 More

4.80

4.70

4.60

4.50

4.40

4.30

4.20

4.10

4.00

3.90

3.80

3.70

3.60

3.50

3.40

3.30

3.20

3.10

3.00

2.90

2.80

2.70

2.60

0%

1807ZoneSG's

 b)

64

70

66

Histogramof1806ZoneSGmeasurements n=239 100%

60 80%

60%

40 31 30

40% 18

Frequency

50

14

20

0

0

1

2

1

2

1

5 3

4 2

4

3

3

3

2 0

1

4 0

5

20% 10

0% More

5.00

4.90

4.80

4.70

4.60

4.50

4.40

4.30

4.20

4.10

4.00

3.90

3.80

3.70

3.60

3.50

3.40

3.30

3.20

3.10

3.00

2.90

2.80

2.70

2.60

0

1806ZoneSG's

 Figure15Ͳ2c:Histogramsofspecificgravitydataforthea)1807Zonesamples,b)1806Zonesamples. 



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Dataverification

16.1 Historicaldataverifications SRKConsultingwascommissionedtocompleteamineralresourceestimateforRamblerin2008.Inthis report, “Mineral Resource Estimate for the Ming Mine, Newfoundland, Canada”, June 12, 2008, SRK constructed a QQ plot illustrating the comparison of copper within the LWZ from CRML historical undergrounddrillingversuscopperwithintheLWZfromRMMdrilling2007Ͳ2008.Itwasfoundthatthe datasetsweresimilaringeostatisticalsignature.Thispositivecomparisondemonstratesthecreditability ofthehistoricaldata;howeveruncertaintyexistsduetotheabsenceofdownholesurveyingforthisdata set.  In 2008, SRK Consulting completed independent RMM data verifications which include drill collar positions,areviewofRMMexplorationprotocolsandprocedures,anddetailedloggingandassayresults werecomparedtoactualcoreintersections.Inallcasestherewasgoodcorrelation.SRKalsotookeight additional independent core samples for comparative analyses. These eight samples were taken from remnant sawn Rambler core from previously sampled positions, taking care to sample core of varying sulphidemineralization(lowaswellashighgradesamplestaken).  TheSRKsamplesweresubmittedtoSGSLaboratoriesinTorontoforindependentanalysesforgoldand copper. The results and variance in gold and copper grades were found by SRK Consulting to be acceptableandtypicalfordepositsofthisnature.  Forthepurposesofthisreportandthenewlydefinedmassiveandstringerzones,anunbiasedrandom auditwasperformedonRMMdrillingandothergeologicaldatabaserecordsagainstdigitalandpaperlog sheets,sectionsandplans.RandomlyselecteddigitalassaysfromtheRMMdatabasehavebeenchecked against source paper copy laboratory assay certificates. Database records checked reflect original data which demonstrates the sound database management processes implemented by Rambler geological staff.  Verificationoftheunminedandremnantpillarresourcesinvolvedcompliationofthehistoricaldatabase byRamblerpersonnelfromoriginaldocumentsstoredattheCRMLminevault,aswellas,copiesofthe databasesubmittedtotheNewfoundlandDepartmentofMinesbyCRMLaftermineclosureinApril1982. Unminedareasbelowthe2200levelweredigitizedintoArcGisandmodeledinto3DDataminesoftware. AreaswererecalculatedandcomparedtotheoriginaltonsreportedforeachareabyCRML.Theremnant pillar areas were also digitized into ArcGis and tons for each calculated. Results were compared to the tonsnotedoneachpillarbyCRML.BothunminedareasandremnantpillargradeswereappliedbyCRML werecrossͲcheckedbyapplyinggradesfromnearbystopes.ThetonscalculatedbyRamblerwerewithin 1.58percentagedifference,whilethecopperandgoldgradeswerewithin3.5percentagedifference.The results of the validation of the unmined and remnant pillar resources by Rambler Metals is quite comparabletothoseunminedandremnantpillarresourcesreportedasreservesbyCRMLuponclosureof theMingMineinApril,1982.LarryPilgrim,P.Geoandqualifiedpersonwhoclassifiedtheseresourcesfor this report interviewed some of the key employees of CRML who worked at the Ming Mine during the operational days of 1970 to 1982. Interviews were completed with the former chief geologist, mine geologist and mine geotechnician. Sampling procedures, mining procedures and resource calculation

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methodologywereverified asperthedatareportedintheoriginalCRMLdataset.Interviewswerealso completedwithpersonneloftheDepartmentofMinesandEnergywhohadcompletedthe1993resource pillarcalculations.

16.2 ControlSamplingAssayprotocols Control sampling procedures applied by RMM and the associated assay laboratoriesincludetechniques suchasthefollowing: x x x x x x x

Validationoftheassayresultsinthedatabasecomparedwiththeoriginalassaycertificates; Taking replicates core samples from a second split of the pulverized sample at the laboratory; Duplicateanalysesofselectedsamples; Sieveteststoverifythegrindingofthepulprequiredforassaying; Insertion of routine blank samples to check for possible contamination during the preparationandassayingprocess; Applicationofappropriategradecertifiedcontrolsamples(standards); Acheckassayingprogramwithanumpirelaboratory.

RamblerutilizestheCenturySystems(DHLogger)databasesystemasamanagementtoolthatcombines boreholelogging,minemappingandassaydatainawaythatintegratesseamlesslywiththe3Dmodeling softwareDatamine.CenturySystemsisalsoadataverificationtoolcapableofQAQCtracking,datainput errorandreportingtools.   



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AdjacentProperties The areas surrounding the Ming Mine have experienced various phases of mining and prospecting activitiesincludinggeologicalmappinganddiamonddrilling.  A plan showing other mineral deposits in close proximity to the Ming Mine is provided in Figure 17Ͳ1, whichalso tabulates illustrative resources for each. Although these will notbediscussed indetail here, thesedepositscanbeclassifiedasgoldandcopperbearing(VMS)orasgoldonly(structurallyemplaced) andarelistedasfollows:  VolcanogenicMassiveSulphides: x EastMine; x RamblerMainMine; x BigRamblerPond.  GoldͲOnlyDeposits: x PineCove; x DeerCove; x Goldenville; x Stog’erTight.



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Figure17Ͳ1:MineralShowingsandDepositsintheVicinityoftheMingMine

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MineralProcessingandMetallurgicalTesting

18.1 MetallurgicalTestProgram 18.1.1Introduction A bench scale metallurgical test program was developed and managed by Thibault & Associates Inc. to provide design data as required to define a process flowsheet and design criteria for this study. The development of the process flowsheet was based on the recovery of copper as a copper concentrate usingaselectiveflotationprocess.Goldrecoverywasbasedonflotationofpartofthegoldtothecopper concentrateandrecoveringadditionalgoldbycyanideleachingoftheflotationtailings.Thetestworkwas conductedbyseveraldifferentservicelaboratories:  … SGSMineralServices(Lakefield,Ontario)ͲCrushingandGrindingIndexTesting,Mineralogy Testing … ResearchandProductivityCouncil(Fredericton,NewBrunswick)ͲBenchScaleFlotationTests andTailingsStabilityTests … PacificPressCo.(Fullerton,California)ͲConcentrateFiltrationTests … Thibault&AssociatesInc.(Fredericton,NewBrunswick)ͲConcentrateThickeningTestsandGold LeachingTests … MetͲSolveLaboratoriesInc.(Burnaby,BritishColumbia)ͲGravityRecoverableGoldTestingͲ CentrifugalSeparator … MineralsEngineeringCentre(Halifax,NovaScotia)ͲGravityRecoverableGoldTestingͲTable … BuchananEnvironmentalLtd.(Fredericton,NewBrunswick)ͲAquaticLifeToxicityTest … AMTEL(London,Ontario)ͲFlotationTailingsGoldAssociationandDeportmentMineralogical Studies

18.1.2SampleDescription Rambler Metals and Mining Canada Limited selected and provided several metallurgical samples for testing.Table18Ͳ01summarizessomeofthekeyheadassaydataforthemetallurgicalsamplesusedin the test program, while a trace element scan is shown in Table 18Ͳ2 for the Composite sample. The Composite sample was selected by Rambler Metals and Mining Canada Limited to represent a typical "runͲofͲmine"sample,andconsistedofablendofdrillcorefromthroughoutthedepositplusaportionof abulksamplefromthe1807faceaswellassomewasterock.  Table18Ͳ1:HeadAssayDataforTestProgramMetallurgicalSamples

SAMPLE

DESCRIPTION

Fe (wt%)

Cu (wt%)

Composite VariabilityA/B VariabilityC VariabilityG

RunofMine

24.1 17.1 32.1 26.7

3.10 9.62 2.24 1.25

HighCopper HighGold LowCopper

HEADANALYSIS Pb Zn S Ag Au (wt%) (wt%) (wt%) (g/tonne) (g/tonne) 0.11 0.09 0.13 0.13

 

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0.63 0.18 0.91 0.52

26.1 15.6 33.7 31.3

14 18 19 14

1.84 1.56 3.58 1.85

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Table18Ͳ2:TraceElementAnalysisforCompositeMetallurgicalSample

Element

Units

Value

Element

Units

Value

Al As Ba Be Bi Ca Cd Ce Co Cl Cr F Ga Ge Hg In K La Li

mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg mg/kg

3.64 586 46 0.1 19 7900 28 5 132 106 103 300 37