RUMBLE RESOURCES LIMITED — Capital/Financing Update 2014

Feb 12, 2014

Major JV Project Acquisition 18km from Nova Nickel Discovery in Fraser Range

Highlights

• Rumble has today stamped itself as a major player in the Fraser Range with the acquisition of the 370sq km Zanthus Project only 18km's from the world class Nova Nickel Copper Massive Sulphide discovery by Sirius Resources
• Rumble's Foot Print in the Fraser Range increases by 87%
• Limited historical drilling into the basement confirms gabbro, mafic & ultramafic rock units within the project, there has been no systematic exploration for magmatic nickel and copper within these units.
• The project acquisition complements our northern project that has the recently discovered 2km Bedrock EM conductor, one of the largest conductors in the Fraser Range

Rumble Resources Ltd ("Rumble" or "the Company") is pleased to announce that the company has signed an earn in agreement with Blackham Resources Ltd (Blackham) (ASX:BLK) to acquire up to 75% of the Zanthus Project located within the highly prospective Fraser Range Complex of the Albany Fraser Tectonic Zone.

Figure 1 Image showing the location of the Zanthus project only 18km's away from Sirius Resources world class Nova nickel-copper discovery

Summary

The Zanthus project E69/2506 is situated approximately 18km East of the recently discovered Nova Nickel Copper Massive Sulphide discovery by Sirius Resources NL (ASX: SIR).

The transaction has repositioned Rumble as a major player in the Fraser Range nickel province with 796 sq km's of ground prospective for Nickel/Copper massive sulphides.

Rumble Resources Ltd

Level 1, 33 Richardson Street, West Perth, WA 6005

T +61 8 6555 3980

F +61 8 6555 3981

rumbleresources.com.au

ASX RTR

Executives & Management

Mr Shane Sikora CEO

Mr Terry Topping Executive Director

Mr Andrew McBain Non-executive Director

Mr Matthew Banks Non-executive Director

Mr Michael Smith Non-executive Director

Mr David Palumbo Company Secretary

Mr Andrew Jones Exploration Manager

Strongly magnetic units can be recognised in the aeromagnetic data, especially in the central region of the project area, and are interpreted as potential mafic and ultramafic units. These magnetic horizons also indicate potentially prospective structural features including dilation zones and fault offsets.

Figure 2: Aeromagnetic image of Zanthus & neighbouring projects

Fraser Range Regional Geology

Exploration in the Albany Fraser Orogen has met with considerable success as evidenced by the discovery of the 7.8 million ounce Tropicana gold deposit. The Tropicana deposit occurs in Archaean aged rocks, and gold mineralization to the southwest of the Tropicana region (e.g. Corvette, Mustang, and Roadrunner Deposits), which occurs along north easterly trending shear zones in interpreted Biranup Zone rocks adjacent to interpreted Fraser Zone rocks is also suggestive of Proterozoic age gold mineralization.

Sirius has a maiden resource for the Nova and Bollinger deposits of a combined 325,000 tonnes of nickel, 134,000 tonnes of copper and 11,000 tonnes of cobalt. Based on independent consensus of nickel and copper spot price forecasting over the life of mine and weighted with A$/US$ average exchange rate of 90c, the future mine is forecast to bring in a revenue, life of mine of nickel, of A$4.6 billion.

Figure 3 Rumble Tenement Holdings including the new Zanthus Project (Blackham Joint Venture)

Previous Exploration

The Zanthus Project has previously been explored for lignite, however very little base and precious metal exploration has been conducted to date, especially into the basement.

Historic drilling by Sabminco NL in 1993 indicated that anomalous Gold and PGE values were identified during an exploration drilling campaign at Zanthus and returned anomalous results of up to 2m @ 150ppb gold, 4.19ppb palladium and 15.4ppb platinum from a depth of 55m down hole. From past drilling the basement is interpreted to be between 20m and 55m below surface.

Previous work by Runge Limited identified an inferred JORC –compliant resource of 350 Mt of large lignite coal resource which occurs as paleo valley fills and in an extensive paleo drainage network. Blackham's 2011 drilling program to test the palaeo channel coal deposits penetrated oxidised upper saprolite after a granitic substrate in the northern part of the lease. In all other drilling on that program, the basement was not reached due to the basal coal horizons being mostly defined.

Next Step

Rumble will develop a methodology to systematically explore the Zanthus Project looking to generate further high priority nickel and copper sulphide targets using proven exploration techniques. Rumble recently announced on the 7th of February that they had discovered one of the largest bedrock EM conductors in the Fraser Range which highlights Rumbles technical expertise in generating further targets.

The drilling from Blackham Resources has indicated that the Proterozoic basement rocks are present between 20m and 55m from surface. Rumble will need to initially do some geophysics test lines to see if VTEM or ground based geophysics will be the most effective technique to utilise in the area.

CEO Comments

CEO of Rumble, Mr Shane Sikora, said "Rumble is excited about the acquisition and what this might lead to for Rumble shareholders. This region is fast becoming the world's most exciting emerging Nickel province. Due to the current ground position, Rumble has now stamped itself as a major player in the Fraser Range."

**Blackham Resources Managing Director, Mr Bryan Dixon, said "**This deal allows Blackham to concentrate on maximising the value of the Matilda Gold Project and recent acquisition of the Wiluna Gold Project, processing plant and associated infrastructure while retaining exposure to exploration success at Zanthus. We are delighted to have Rumble join us in this venture."

Key Terms of the Earn-In Agreement

• a) Mineral Rights. Rumble agreed to acquire all the basement mineral rights in the Project which excludes coal and mineral sands/heavy metals within the sedimentary cover sequences. Blackham will keep all rights over Zanthus coal orebody.
• b) Acquiring 20% interest. Rumble has acquired an initial 20% initial interest in the Project in consideration for Rumble issuing to Blackham 2,000,000 Rumble Shares. (Stage 1 Earn-in Milestone).
• c) Acquiring 50% interest. Rumble will acquire a 50% interest in the Project through spending $1million Australian dollars on exploration over the first 2 years from the date of the Formal Agreement (Stage 2 Earn-in Milestone).

On meeting the 50% interest, Rumble shall make a payment of $250,000 Australian to be apportioned 30% in cash and 70% in Rumble shares.

Minimum 50% - If Rumble doesn't satisfy the Stage 2 Earn-in Milestone, Rumble will transfer back its 20% interest in the Project.

d) Acquiring 75% interest. Rumble will acquire a 75% interest in the Project through spending an additional $1.5 million Australian dollars on exploration in years 3 and 4 from the date of the Formal Agreement (Stage 3 Earn-in Milestone).

On meeting the 75% interest, Rumble shall make a payment of $500,000 Australian Dollars to be apportioned 30% in cash and 70% in Rumble shares.

e) Free Carry. Blackham will be free carried to completion of a bankable feasibility study in relation to the Project, at which point if Blackham decides not to contribute in proportion to its interest in the Project, its interest will dilute by an industry standard formula, to a minimum 10% before reverting to a 2% net smelter royalty.

Shane Sikora CEO

• ENDS -

About Rumble Resources Ltd

Rumble Resources Ltd is an Australian based exploration company, officially admitted to the ASX on the 1st July 2011. Rumble was established with the aim of adding significant value to its current gold and base metal assets and will continue to look at mineral acquisition opportunities both in Australia and abroad.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Terry Topping, who is a Member of the Australasian Institute of Mining & Metallurgy and the Australian Institute of Geoscientists. Mr Topping is a fulltime employee of Rumble Resources Limited and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Topping consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Samplingtechniques	Nature and quality of sampling (eg cut channels,random chips, or specific specialised industrystandard measurement tools appropriate to theminerals under investigation, such as down holegamma sondes, or handheld XRF instruments, etc).These examples should not be taken as limiting thebroad meaning of sampling.Include reference to measures taken to ensuresample representivity and the appropriate calibrationof any measurement tools or systems used.Aspects of the determination of mineralisation that areMaterial to the Public Report.In cases where 'industry standard' work has beendone this would be relatively simple (eg 'reversecirculation drilling was used to obtain 1 m samplesfrom which 3 kg was pulverised to produce a 30 gcharge for fire assay'). In other cases moreexplanation may be required, such as where there iscoarse gold that has inherent sampling problems.Unusual commodities or mineralisation types (egsubmarine nodules) may warrant disclosure ofdetailed information.	Drill assays referred to are from aircoredrilling undertaken by Sabminco NL in1990.Assaying for Au, Pt & Pd was by fireassay and undertaken by Analabs PtyLtd.
Drillingtechniques	Drill type (eg core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic, etc)and details (eg core diameter, triple or standard tube,depth of diamond tails, face-sampling bit or othertype, whether core is oriented and if so, by whatmethod, etc)	Aircore drilling.
Drill samplerecovery	Method of recording and assessing core and chipsample recoveries and results assessed.Measures taken to maximise sample recovery andensure representative nature of the samples.Whether a relationship exists between samplerecovery and grade and whether sample bias mayhave occurred due to preferential loss/gain offine/coarse material.	No information about recoveries providedin Sabminco NL annual reports submittedto the Department of Mines andPetroleum.
Logging	Whether core and chip samples have beengeologically and geotechnically logged to a level ofdetail to support appropriate Mineral Resourceestimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative innature. Core (or costean, channel, etc) photography.The total length and percentage of the relevantintersections logged.	No information about geological loggingis provided in Sabminco NL annualreports submitted to the Department ofMines and Petroleum.
Subsamplingtechniquesand samplepreparation	If core, whether cut or sawn and whether quarter, halfor all core taken.If non-core, whether riffled, tube sampled, rotary split,etc and whether sampled wet or dry.For all sample types, the nature, quality andappropriateness of the sample preparation technique.Quality control procedures adopted for all subsampling stages to maximise representivity ofsamples.Measures taken to ensure that the sampling isrepresentative of the in situ material collected,including for instance results for fieldduplicate/second-half sampling.Whether sample sizes are appropriate to the grainsize of the material being sampled.	No information about sub-sampling orsample preparation provided in SabmincoNL annual reports submitted to theDepartment of Mines and Petroleum.

Criteria	JORC Code explanation	Commentary
Qualityofassaydataandlaboratorytests	The nature, quality and appropriateness of theassaying and laboratory procedures used andwhether the technique is considered partial or total.For geophysical tools, spectrometers, handheld XRFinstruments, etc, the parameters used in determiningthe analysis including instrument make and model,reading times, calibrations factors applied and theirderivation, etc.Nature of quality control procedures adopted (egstandards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy (ielack of bias) and precision have been established.	No information provided in Sabminco NLannual reports submitted to theDepartment of Mines and Petroleum.
Verificationof samplingandassaying	The verification of significant intersections by eitherindependent or alternative company personnel.The use of twinned holes.Documentation of primary data, data entryprocedures, data verification, data storage (physicaland electronic) protocols.Discuss any adjustment to assay data.	No information provided in Sabminco NLannual reports submitted to theDepartment of Mines and Petroleum.
Locationofdata points	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mineworkings and other locations used in MineralResource estimation.Specification of the grid system used.Quality and adequacy of topographic control.	No information provided in Sabminco NLannual reports submitted to theDepartment of Mines and Petroleum.
Dataspacing anddistribution	Data spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficientto establish the degree of geological and gradecontinuity appropriate for the Mineral Resource andOre Reserve estimation procedure(s) andclassifications applied.Whether sample compositing has been applied.	Holes were aimed at testing lignitemineralisation. Some limited assaying forAu, Pt and Pd was also completed.
Orientationofdatainrelationtogeologicalstructure	Whether the orientation of sampling achievesunbiased sampling of possible structures and theextent to which this is known, considering the deposittype.If the relationship between the drilling orientation andthe orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshould be assessed and reported if material.	Holes were of a reconnaissance nature.
Samplesecurity	The measures taken to ensure sample security.	No information provided in Sabminco NLannual reports submitted to theDepartment of Mines and Petroleum.
Auditsorreviews	The results of any audits or reviews of samplingtechniques and data.	No information provided in Sabminco NLannual reports submitted to theDepartment of Mines and Petroleum.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineraltenementandlandtenurestatus	Type, reference name/number, location andownership including agreements or material issueswith third parties such as joint ventures,partnerships, overriding royalties, native titleinterests, historical sites, wilderness or nationalpark and environmental settings.The security of the tenure held at the time ofreporting along with any known impediments toobtaining a licence to operate in the area.	Exploration licence E69/2506 held byZanthus Energy Pty Ltd a subsidiary ofBlackham Resources Ltd.Rumble have an earn-in JV agreementto earn up to 75% interest in E69/2506.
Explorationdone by otherparties	Acknowledgment and appraisal of exploration byother parties.	Exploration has been focussedpreviously on mineral sands andlignite/coal with limited explorationpreviously completed for precious andbase metals.
Geology	Deposit type, geological setting and style ofmineralisation.	The Company is exploring for basemetals and gold mineralisation.A lignite deposit occurs on the licencebut is not subject to Rumble's earn-inagreement.
DrillholeInformation	A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for allMaterial drill holes:oeasting and northing of the drill hole collaroelevation or RL (Reduced Level – elevationabove sea level in metres) of the drill hole collarodip and azimuth of the holeodown hole length and interception depthohole length.If the exclusion of this information is justified on thebasis that the information is not Material and thisexclusion does not detract from the understandingof the report, the Competent Person should clearlyexplain why this is the case.	End of hole information not provided inSabminco NL annual reports submittedto the Department of Mines andPetroleum.From cross sections in annual report itcan be seen that drilling by Sabminco NLwas vertical.
Dataaggregationmethods	In reporting Exploration Results, weightingaveraging techniques, maximum and/or minimumgrade truncations (eg cutting of high grades) andcut-off grades are usually Material and should bestated.Where aggregate intercepts incorporate shortlengths of high grade results and longer lengths oflow grade results, the procedure used for suchaggregation should be stated and some typicalexamples of such aggregations should be shown indetail.The assumptions used for any reporting of metalequivalent values should be clearly stated.	No information provided in Sabminco NLannual reports submitted to theDepartment of Mines and Petroleum.
Relationshipbetweenmineralisationwidthsandinterceptlengths	These relationships are particularly important in thereporting of Exploration Results.If the geometry of the mineralisation with respect tothe drill hole angle is known, its nature should bereported.If it is not known and only the down hole lengths arereported, there should be a clear statement to thiseffect (eg 'down hole length, true width not known').	Only limited assaying for Au and PGM'swas completed. More work is required.
Diagrams	Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported These shouldinclude, but not be limited to a plan view of drill holecollar locations and appropriate sectional views.	No significant discovery being reportedon.

Criteria	JORC Code explanation	Commentary
Balancedreporting	Where comprehensive reporting of all ExplorationResults is not practicable, representative reportingof both low and high grades and/or widths shouldbe practiced to avoid misleading reporting ofExploration Results.	Only 35 samples were assayed in the1990's by Sabminco NL for Au, Pt andPd. These samples were from variousdrill holes.
Othersubstantiveexplorationdata	Other exploration data, if meaningful and material,should be reported including (but not limited to):geological observations; geophysical surveyresults; geochemical survey results; bulk samples –size and method of treatment; metallurgical testresults; bulk density, groundwater, geotechnicaland rock characteristics; potential deleterious orcontaminating substances.	No other substantive exploration data onthe licence is known to Rumble.
Further work	The nature and scale of planned further work (egtests for lateral extensions or depth extensions orlarge-scale step-out drilling).Diagrams clearly highlighting the areas of possibleextensions, including the main geologicalinterpretations and future drilling areas, providedthis information is not commercially sensitive.	EM surveys will most likely beundertaken as early stage exploration forbase metals.