Rambler Metals and Mining plc announced its reconciled operational results for May 2022 as well as details of management changes that have recently occurred in the company. For the month ended 31 May 2022, the Ming Mine averaged ore production of 1,041 dry metric tonnes ("dmt") per day (April 2022: 1,185 dmt per day). However, total mined ore and waste was 50,388 tonnes compared to 51,545 tonnes in April.

Consistent feed to the mill was achieved from inventory with 18,471 dmt remaining in stock at end of May. For the month ended 31 May 2022, the Nugget Pond copper and gold milling facility achieved throughput of 36,319 dmt at a feed grade of 1.58% copper (April 2022: 30,195 dmt at a feed grade of 1.46% copper). Recovery of copper metal to concentrate was 95.8% for May 2022 (April 2022: 97.0%).

During the month, the operation produced 1,944 dmt of concentrate containing 532 tonnes of saleable copper and 234 ounces of saleable gold (April 2022: 1,599 dmt containing 413 tonnes and 160 ounces of saleable copper and gold respectively). Development during the month totalled 353 meters (April 2022: 366 meters). Production and Developed State; May has shown that the developed state of the underground mine has now been brought to a position to support full production through the mill.

The status of the four main production areas in the mine are as follows: 510L LFZ: Production activities and diamond drilling continue in this area. 770L and 790L UFZ: Production activities continue in this area. Secondary ground support has been a focus in May to protect the high grades expected out of this zone in June.

785 Ming North Zone: Development as a cut and fill operation continues through the zone at scheduled rates. 735L and 760L LFZ: Production activities continue in this area. All three mining zones at the bottom of the mine experienced backfilling cycles during May, totaling 16,296 tonnes fill placed.

This necessary step in the mining sequence also benefits the operation by reducing or eliminating haulage of waste rock to surface and is the reason why ore tonnes were lower for the month. Total tonnes of material moved in May were 50,388 tonnes, comprised of 32,262 tonnes of ore and 18,126 tonnes of waste/backfill movement. Peak tonnes moved in a 24-hour period was 2,750 tonnes while peak tonnes of material brought to surface was 2,134 tonnes ore and waste combined.

New mining equipment received during the month included an 8-yard CAT scoop and 30 tonne CAT underground haulage truck. As discussed in last month's update, the grade delivered to the mill has increased over April's results with the mined grade picking up in May to 1.65% copper, although milled grades were lower at 1.58% copper as feed material was processed from stockpile. The Nugget Pond processing plant overcame the maintenance issue reported in April's update and has achieved throughput averaging 1,172 dmt per calendar day ("tpcd") or 1,269 dmt per operating day ("tpod") in May.

The arrangement with the previously reported rented crusher was concluded and normal crushing operations resumed at Nugget Pond as of 6 May 2022, with average throughput of 1,292tpcdfrom then until end of month. Plant availability from 6-31 May was 99.2%, resulting in an average throughput of 1,303 tpod during that 26-day period. Eight of those days saw throughput at or exceeding the daily target of 1,350 tpod, with a peak throughput of 1,400 tpod achieved on 16 May.

The continued presence of an ore stockpile on surface and now a crushed ore stockpile established at the mill as well has benefited the operation. Copper recovered for the month was 551 tonnes based on 36,319 tonnes milled at a grade of 1.58% copper and recovery of 95.80%. Covid-19 Update: All provincial restrictions have been lifted as of 14 March 2022.

Rambler continues to abide by all Public Health guidelines for the long-term management of Covid-19 and protection of the entire workforce. Going forward, will cease reporting on Covid-19 unless the situation changes in the future.