HIGH-GRADE EXPANDING COPPER-GOLD PRODUCERCANADA

JANUARY 2018RAB TSXVRMM AIM

FORWARD LOOKING STATEMENTS

CautionRegarding Forward Looking Statements:Certain information included in this presentation, including information relating to future financial or operating performance and otherstatements that express the expectations of management or estimates of future performance constitute “forward-looking statements”.Such forward-looking statements include, without limitation, statements regarding copper and gold forecasts for fiscal 2018 (including theinformation provided in any tables relating to production and concentrate forecasts for fiscal 2018), the financial strength of the Company,estimates regarding timing of future development and production and statements concerning possible expansion opportunities for theCompany. Where the Company expresses or implies an expectation or belief as to future events or results, such expectation or belief arebased on assumptions made in good faith and believed to have a reasonable basis. Such assumptions include, without limitation, the priceof and anticipated costs of recovery of, copper concentrate and gold, the presence of and continuity of such minerals at modeled gradesand values, the capacities of various machinery and equipment, the availability of personnel, machinery and equipment at estimatedprices, mineral recovery rates, and others. However, forward-looking statements are subject to risks, uncertainties and other factors,which could cause actual results to differ materially from future results expressed, projected or implied by such forward-lookingstatements. Such risks include, but are not limited to, interpretation and implications of drilling and geophysical results; estimatesregarding timing of future capital expenditures and costs towards profitable commercial operations. Other factors that could cause actualresults, developments or events to differ materially from those anticipated include, among others, increases/decreases in production;volatility in metals prices and demand; currency fluctuations; cash operating margins; cash operating cost per pound sold; costs per ton ofore; variances in ore grade or recovery rates from those assumed in mining plans; reserves and/or resources; the ability to successfullyintegrate acquired assets; operational risks inherent in mining or development activities and legislative factors relating to prices, taxes,royalties, land use, title and permits, importing and exporting of minerals and environmental protection. Accordingly, undue relianceshould not be placed on forward-looking statements and the forward-looking statements contained in this press release are expresslyqualified in their entirety by this cautionary statement. The forward-looking statements contained herein are made as at the date hereofand the Company does not undertake any obligation to update publicly or revise any such forward-looking statements or any forward-looking statements contained in any other documents whether as a result of new information, future events or otherwise, except asrequired under applicable law.

RMM’s qualified person, Mr. Larry Pilgrim, P. Geo., is responsible for verification and quality assurance of the exploration data and theanalytical results set forth in this presentation. RMM is in full compliance with all NI43-101 rules and regulations.

2

WHY OWN RAMBLER?

3*Note:Pendingdetailedengineeringstudies.**C1=Netdirectcashcostsperpoundofsaleablecoppernetofby-productcredits

Location HighGradeCopper ExpandingProductionNewfoundland,Canada

Stable,low-riskjurisdiction inhistoricalminingdistrict

RisingCopperMarket

Location

PhaseI

650mtpd

PhaseII

Sustainin2018

1250mtpd

PhaseIII*

FutureEngineeringStudies

2,000mtpd

LongMineLife20Years

~16MPoundsofCopper Annually

ImprovingC1CostsTargetingDecreasein

C1Costs**

ExplorationRecentResultsInclude:102.0metersof1.65%Cu

THE RIGHT TEAM

4

NormanWilliams,CPA,CA– President,CEOandDirector+20yearsoffinancialandmanagementexperienceFormerCFOofRambler2010-2014

PeterMercer – VPandCorp.SecretaryGeologistwith+15yearsofexplorationanddevelopmentexperience

TimSanford,P.Eng.– VPTechnicalServices+23yearsofexperienceatvarioussupervisory levels,primarilyrelatedtoundergrounddevelopmentandproduction

ScottBritton,P.Eng.– GeneralManager+35yearsexperience inunderground mining

TimSlater,ACA,CTA– InterimCFOMDofHarmerSlaterCharteredAccountantsintheUnitedKingdom

BradfordMills–Director,Chair+30yearsintheresourceindustry. FounderandmanagingdirectorofPlinian.CurrentlyExecutiveChairmanatMandalayResources.

GlennPoulter–LeadDirectorExecutiveMBA,CassBusinessSchool,specializinginfinanceandstrategy.+30yearsofexperiencewithfinancialservicesintheUK.

MarkSander– Non-ExecutiveDirectorPhD inOreDepositsandExplorationandactiveinthemineralresourceindustry for+25years.PresidentandCEOatMandalayResources.

BelindaLabatte– Non-ExecutiveDirectorMBAfromRotmanSchoolofManagementandCFAcharterholder.ChiefDevelopmentOfficeratMandalayResources.

TerrellAckerman– Non-ExecutiveDirector40+yearsintheresourceindustry.FormerinterimCEOatStillwaterMining.

EasonChen– Non-ExecutiveDirectorExtensiveknowledgeandexperienceinCanadianandcross-borderlistings,corporategovernanceandinternalcontrols.

BOARD OF DIRECTORSMANAGEMENT

ProvenTeamwithaTrackRecordofMineDevelopmentandOperations

5 5

STRONG COPPER FUNDAMENTALS

$1.75

$2.00

$2.25

$2.50

$2.75

$3.00

$3.25

CopperCashOfficialComex($/lb)

ExpandingitsOperationinaRisingCopperMarket

SHARE STRUCTURE

6

Ticker RMM RAB

SharePrice(January24,2018) £0.087 $ 0.14CAD

52WeekRange (£0.07-£0.13) ($0.11-$0.22)

DailyVolume 70,000 26,000

MarketCap. £48M $77MCAD

SharesOutstanding 549M

Options 13M

Warrants(£0.05 June2018) 65M

Cash $1.5M

Debt(AdvancePurchasewithOfftakePartner)

$4M

ShareholdersJanuary24,2018

Institutional Shareholders

CEMiningII 72%

LombardOdier 6%

CIGlobalInvestments 5%

TinmaInternational 4%

UBSAssetManagement 3%

Float&RetailNetwork 10%

StrongInstitutionalShareholderSupport

Unlessotherwise indicatedallcurrency isUSD

COPPER-GOLD PRODUCTION

7

§ Underground copper-goldmine§ 100%Ownership§ PhaseICommercialProduction

startedin2012§ LandPackage1640Hectares§ 195Employees

100%OwnershipinProducingCopper-GoldMine

Nugget Pond Mill

Block 1

Block 2

Block 3

Block 4

Block 5

Block 6

Historical Shaft

Lower Footwall Zone

1800 lv

Ramp

8

MING COPPER-GOLD MINE

8

Mineral ReserveClassification

T(‘000)

Cu (%)

Au (g/t)

Cu M lbs

Au K Oz

Proven* 5,205 1.98 0.43 226.9 71.6

Probable* 3,050 1.99 0.76 133.8 74.2

Total Reserve (diluted, recovered) 8,667 1.79 0.48 341.2 133.5

Note:ProvenandProbable(undilutedandunrecovered)SeeAppendixforfurtherdetail

Development

LongholeDrilling

DrilledStope

BlastedOre

Modified Sub-level Longhole Mining

Transverse Long-hole Mining

Post Pillar Cut and Fill Mining

PhaseIIExpansionAddstheLFZOreintotheProductionProfile

NEAR TERM GROWTH WITH A LONG MINE LIFE

9

TargetingAverageproductionof~16MPoundsperyearoverthe20YearMineLife

-

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

12,000,000

14,000,000

16,000,000

18,000,000

20,000,000

-

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

500,000

Copp

er, L

bs

Mill

Fee

d, T

MillFeedandSaleableCopperProduced

LFZ Mill Feed MMS Mill Feed Saleable Cu, Lbs

FINANCIAL KPIS @ 1,250 MTPD

10*DatasourceNI43-101July2015TechnicalReportwithbasecaseKPI’srepresentedatlong-termCuof$2.79/lb

$0

$5,000

$10,000

$15,000

$20,000

$25,000

$2.25 $2.65 $2.79 $3.00 $3.25

000'spera

nnum

USD$Cu/lb

EBITDA NetOperatingCash FreeCash

AttractiveFinancialProfileatVaryingCopperPrices

PHASE II EXPANSION – NEAR COMPLETION

11

§ Sustainedproduction at1,250mtpdpending completionofventilationupgrade

§ 17monthsofmineoptimization anddevelopmentcompletedwith:

§ MultipleLFZstopesnowavailable

§ Ventilationupgradeprojectnearingcompletion

§ Highergradeblended orefeedfromtheLFZandMMSwillreducecoppercostperpound

§ Addition ofapasteplant(2019/20)

§ Expansionofexistingtailingsdams(2018)

CompletionofPhaseIIExpansionApproaching

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

0

0.5

1

1.5

2

2.5

3

3.5

4

Q1/2017 Q2/2016 Q3/2016 Q4/2016 Stub 20175 Month Period

Q1 2017 Q2 2017 Q3 2017

C1

Cos

t

Poun

ds o

f Sal

eabl

e C

u in

Mill

ions

Pounds of Saleable Cu and C1 Cost

Saleable CU, M lbs C1 $US

CURRENT PRODUCTION & COSTS

12

§ WithincreasedLFZstopeproduction comingonlinependingcompletion oftheventilationupgrade,millfeedgradesettoimproveallowingthecostperpound ofcopperproduction toreduce

§ Thegoalistoprovide flexibilityfortheminetooperateinvaryingcopperpriceenvironmentsbylowering theoverallcostperpound ofcopper

Stub 2017 : 5 month period from Aug. 1- Dec. 31, 2016 – transition to calendar year-end

PhaseIIExpansion

*C1–netdirectcashcostperpoundofsaleablecoppernetofby-productcredits

ContinuetoOptimizeandImproveOperatingEfficiencies

EXPLORATION POTENTIAL - MMS

13

1807 Zone

Ming South Zone

Ming North Zone

1806 Zone

Previous Mining HorizonRecent Intersection of:

Ø 16.8 m of 1.8% Cu with 1.8 g/t Au

1800 ft lv

RM03-02 intersected4.1 meters of 3.0 % Cu with 2.8 g/t Au~1 km beyond historic workings

All Zones Remain Open at Depth

Surface SurfacePortal

East West

§ MingNorthZonehasshowncontinuedmineralizationatdepth.Highlightsinclude:• R17-675-04:4.00mof3.17%Cu

with6.56g/tAu• R17-675-05:21.00mof3.10%Cu

with1.13g/tAu• R17-675-07:17.97mof2.79%Cu

with1.73g/tAu

SURFACE DRILL PROGRAM COMPLETED

§ Surfacedrillingindicatedgradesandthicknessareimprovingwithdepth

§ Recentdrillprogramextendedmineralization550mDown-dipofCurrentMineralResource

RM17-25c

§ LFZ:102.0metersof1.65%Cu

§ Including35.8metersof2.59%Cu

§ Including27.0metersof1.98%Cu

§ 40.00metersof1.42%Cu

§ including7.57metersof2.27%Cu

ExtendsKnownMineralization550metersdown-dipbeyondpreviousdrilling

14

§ MMS:Lowerlens6.30metersof2.85%Cuand2.99g/tAu

15

PHASE III – FUTURE STUDIES

§ StartaDefinitiveFeasibilityStudyoncetheminesustainsitsPhaseIIproduction targets

§ IncreaseorethroughputbeyondthePhaseII1,250mtpd- targeting2,000mtpd

§ Furtherexpansionoffersscalewithaveryattractivefinancialprofile§ Considerations/benefits include:

I. Milllocation&UGmaterialhandling options includingpotentialrehabofoldshafttohoist2,000mtpd

II. Improvedprojecteconomicswithhigherannualcopperoutputandlowerunitcosts

15

HistoricalShaft

FurtherExpansionOpportunitiestoIncreaseProductionto2,000mtpd

SAFETY & HEALTH

16

• 1losttimeaccident sincethestartofconstructionin2011

• 2,321DaysSinceLastLostTimeAccident(1125Dayssincelastmedicalaid)

• Fiscal2017TIFRTarget<3.Achievedat0.

• Over2.5millionpersonhoursworkedontheprojecttodate

Winner of the 2016 John T Ryan Safety Award from the Canadian Institute of

Mining, Metallurgy and Petroleum ('CIM')

• Noreportableexceedancesorenvironmentalincidents in3fiscalyears

• Strongcommitmenttosafetyandenvironment

• Committedtocommunityengagementwithafocusonregionalbenefits

ENVIRONMENT & COMMUNITY

SAFETY, HEALTH, ENVIRONMENT & COMMUNITY

4

6

21

2

4.3

6.4

1.14 0.571.26

0 001234567

0

5

10

15

2011 2012 2013 2014 2015 2016 2017

FrequencyRate

Number

FiscalYear

Fatalities Lost Times Medical Aids Total Injury Freq. Rate

Construction

Production

ExceptionalHealth,SafetyandEnvironmentalRecord

MaintainSteadyProductionat1,250tpd

§ Completeventilationupgradeandcontinuetooptimizeandimproveefficiencieswithproductionat1,250mtpd

§ Continuewithexplorationanddelineationdrillingprogramstoreplaceandextendknownorebodies

§ UpdateNI43-101TechnicalReport.Feb.2018

FutureEngineeringStudies- PhaseIII

§ Furtheradvanceengineeringstudiestargetingproductionat2,000mtpd

§ DefinitiveFeasibilityStudy

§ Furtherincreaseproductionandeconomicprofile

17

LOOKING FORWARD

ExecutinganExpansioninanUpwardTrendingCopperMarket

ProducingHighGradeCopper-GoldExecutingOperationsExpansionin

anUpwardTrendingCopperMarket

Rambler Metals & Mining PLCSalatinHouse19CedarRoadSuttonSurrey,SM25DAUnitedKingdomTel: +44(0)2086522700Fax: +44(0)2086522719

Rambler Metals & Mining Canada LtdP.O.Box610BaieVerte,NL,A0K1B0Route#418Ming'sBightRoad, NLTel: 709-800-1929Fax: 709-800-1921

FINANCIAL RESULTS & GUIDANCEALL AMOUNTS IN $US ‘000S, UNLESS OTHERWISE STATED.

19*C1=Netdirectcashcostsperpoundofsaleablecoppernetofby-productcredits**RevisedGuidanceasofNovember2,2017

2017Q3 Q2 Q1

Revenue(M) $7.3 $6.9 $5.7

EBITDA(M) $1.1 $1.2 ($1.5)

CashFlowsfromOps.(M) ($2.5) $0.5 ($2.1)

C1CashCosts* $2.87 $2.44 $3.39

Copper(tonnes) 1,004 1,112 794

Gold(ounces) 930 939 391

ConcentrateCopper(%) 28.9 26.6 28.2

ConcentrateGold(g/t) 9.9 7.7 5.2

AverageCopperPrice $2.86 $2.56 $2.63

Fiscal2017RevisedGuidance**

DryTonnesMilled 330,000- 360,000

CopperRecovery(%) 94– 96

GoldRecovery(%) 60–65

CopperHeadGrade(%) 1.3- 1.6

GoldHeadGrade(g/t) 0.5- 1.0

ConcentrateCopper(%) 26- 28

ConcentrateGold(g/t) 4.0- 8.0

DryTonnesProduced 14,000- 16,000

Copper(tonnes) 3,800– 4,200

Copper(Mlbs) 8.5– 9.5

Gold(ounces) 3,400– 3,900

QuarteroverQuarterFinancialandOperatingResultsin2017

MINERAL RESERVE AND RESOURCE(RESERVE AS OF 20 JULY 2015)

20

Classification

Quantity Grade Contained Metal

tonnes Copper%

Goldg/t

Silverg/t

Zinc%

CopperMlbs

GoldKoz

SilverKoz

ZincMlbs

TotalProven Reserve(undiluted, unrecovered)

5,205,300 1.98 0.43 3.08 0.07 226.9 71.6 515.5 8.4

TotalProbable Reserve(undiluted, unrecovered)

3,050,100 1.99 0.76 3.19 0.10 133.8 74.2 312.4 6.6

Dilution (allsources) 1,374,500 0.61 0.06 0.70 0.01 18.5 2.6 30.7 0.3

Reserve(dilutedandrecovered) 8,667,000 1.79 0.48 2.77 0.07 341.2 133.5 772.8 13.8

MineralReserveEstimateSummaryfortheMingCopper-GoldMine 1 (ResourcesareInclusiveofReserves)

MineralResourceEstimateSummaryfortheMingCopper-GoldMine(2)

MeasuredTotal 19,127 1.50 0.23 1.90 0.05 632.0 141.8 1,167.9 19.9

IndicatedTotal 9,199 1.53 0.39 2.07 0.07 310.5 115.3 613.5 14.3

M&I Total 28,326 1.51 0.28 1.96 0.05 942.5 257.1 1,781.4 34.2

InferredTotal 5,086 1.51 0.66 3.75 0.21 169.7 107.8 613.4 23.6

LOWER FOOTWALL ZONE RESOURCE(COPPER CUT-OFF SENSITIVITY)

21

CopperCut-offGrade

Quantity Grade ContainedMetal

(000't) Copper%

Goldg/t

Silverg/t

Zinc%

Copperlbs

Goldoz

Silveroz

Zinclbs

0.25 68,622 0.96 0.09 0.98 0.02 1,451,097,627 193,484 2,159,594 29,245,136

0.50 57,632 1.07 0.09 1.05 0.02 1,357,287,418 169,203 1,942,167 24,593,816

0.75 40,936 1.25 0.10 1.16 0.02 1,126,324,596 128,553 1,527,440 17,296,650

1.00 25,958 1.47 0.11 1.28 0.02 839,593,090 87,667 1,071,175 10,875,301

1.25 16,025 1.69 0.11 1.41 0.02 595,434,650 57,649 727,852 6,574,685

1.50 9,427 1.91 0.12 1.56 0.02 396,656,024 36,580 472,111 3,845,516

1.75 5,380 2.13 0.13 1.73 0.02 252,605,662 22,393 298,499 2,220,336

2.00 2,860 2.36 0.14 1.88 0.02 149,083,363 12,685 172,891 1,203,654

MeasuredandIndicatedMineralResourceEstimateCombined

(1) Allfiguresareroundedtoreflecttheaccuracyoftheestimate;numbersmaynottotalduetothisrounding.Thisreserve statementreflectschangestoreservesinthemassivesulphidesbasedondepletionduetominingandadditionsdue tonewexplorationdrillingresults.TheNSRforthereservematerialwascalculatedusingan all-incostsof$147pertonneoforemilledforthemassivesulphidesand$118pertonneof oremilledforthelowerfootwallzone.

ForecastlongtermmetalpricesofUSD$2.79perpoundcopperandUSD$1,100perouncegold,andUSD$15.50perouncesilverwitha longtermUSD/CDNFXrateof1:0.88.

(2)MineralResourcesarenotMineralReservesandhavenotdemonstratedeconomicviability.Allfiguresareroundedtoreflecttheaccuracyoftheestimate.Cut-offgradesof1.0percentcopperforthemassivesulphides, 1.25gramspertonnegoldforanygoldzonesand1.00percentcopperforthestringersulphideshavebeen usedintheestimate.

Cut-offs arebasedonanNSRmodelandforecastlongtermmetalpricesofUSD$2.79perpoundcopper andUSD$1,100perouncegold,andUSD$15.50perouncesilverwithalongtermUSD/CDNFXrateof1:0.88.Zincdoesnotcontributetotherevenues.Resourcesareinclusiveofreserves.