RUMBLE RESOURCES LIMITED — Capital/Financing Update 2015

Jan 27, 2015

ASX Announcement 28 January 2015

BOARD OF DIRECTORS Paul Murphy (Non-Executive Chairman) Bryan Dixon (Managing Director) Alan Thom (Executive Director) Greg Miles (Non-Executive Director)

ASX CODE BLK

CORPORATE INFORMATION 143.6M Ordinary Shares 18.3M Unlisted Options

ABN: 18 119 887 606

PRINCIPAL AND REGISTERED OFFICE

Blackham Resources Ltd L2. 38 Richardson Street West Perth WA 6005

POSTAL ADDRESS

PO Box 1412 West Perth WA 6872

www.blackhamresources.com.au

E: info@blackhamresources.com.au

P: +61 8 93226418 $\overline{F}$ : +61 8 93226398

Fraser Range update from Rumble Resources

Attached is an ASX announcement for Rumble Resources Ltd (ASX:RTR) ('Rumble') in relation to the Zanthus Project.

Blackham currently has an 80% interest in the Zanthus Project in the Fraser Range, Western Australia and is being free carried to completion of a Bankable Feasibility Study. Rumble Resources are currently earning in to a 75% stake in the basement and precious metal rights.

ASX ANNOUNCEMENT Fraser Range Exploration Update

28th January 2015 Highlights

Zanthus Project

• As part of a planned systematic exploration program Rumble is fast tracking approvals to complete a high impact drilling program in March 2015
• . Rumble will drill 5 shallow bedrock conductors across the Zanthus eye feature 20km's east of the Nova-Bollinger nickel copper massive sulphide discoveries
• 5 RC holes for 750 metres will be completed with 3 highly conductive bedrock conductors priority targets
• . Rumble is fully funded to complete the drill program with the added bonus of a $150k EIS drilling grant from the WA government

Big Red Project

• . Assays confirm mineralised sulphide zones in Fraser Range Gabbro with the gabbro high in Fe-Ti-V with anomalous Copper, Nickel and Cobalt
• . Each hole intersected multiple horizons of Fraser Range Gabbro containing disseminated magmatic sulphides with trace chalcopyrite (copper sulphide)
• Confirmation of a mineralised system within Fraser Range Gabbro makes the $\bullet$ significant off hole conductors high grade targets as they may represent massive sulphide accumulations
• Bedrock conductor modelling continuing with detailed petrology and lithogeochemical analysis progressing for the next phase of drilling

Tropicana Gold Mine Big Red Project, Fraser Range Kalgoorlie Thunderstorm Project Fraser Range Zanthus Project Fraser Range Nova Nickel-Copper Deposit Norseman

Rumble Resources Ltd ("Rumble" or "the Company") is pleased to provide an update on Rumble's systematic Fraser Range Exploration in Western Australia.

Rumble Resources Ltd

Suite 9.36 Ord 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 Bruno Seneque Company Secretary

In line with Rumble's planned exploration programmes, the Company is scheduled to complete a high impact drill program targeting highly conductive bedrock conductors at the Zanthus project in March 2015. Whilst this is being completed Rumble will complete all the necessary technical work to prepare the Big Red Project for the next stage of drilling.

Zanthus Project

The Zanthus Project is located 20km's east of the Nova-Bollinger nickel copper massive sulphide discoveries in the Fraser Range, Western Australia.

As part of a planned systematic exploration program Rumble is fast tracking approvals to complete a high impact drilling program in March 2015. The program will consist of 5 RC holes for 750 metres. Rumble will be targeting 5 bedrock conductors which may represent magmatic massive Nickel Sulphides See Figure 2. They are located in and around an "eye" feature interpreted as an elliptical magnetic rimmed intrusive body some 2km in length and up to 1km wide and of similar size to the Nova "eye" feature.

ZC1, ZC2 and ZC3 are of high conductance and will be a priority for the upcoming drill program. See $\pmb{\theta}$ Figure 3.

ZC4 and ZC5 - These targets will also be tested as part of the current drill program.

Figure 2. Zanthus Eye Conductors

"Eye" shaped magnetic features are indicators commonly associated with mafic intrusive complexes that host Ni-Cu-PGE ore bodies and are therefore priority targets when looking for ore bodies that can contain zones of massive sulphides. The world class Nova massive Sulphide Nickel Copper Discovery was found through drilling a bedrock conductor within an "eye" intrusive.

Figure 3. ZC1, ZC2 & ZC3 of high conductance which are high priority drill targets.

Rumble recently announced on December 16th 2014 its application for the WA State Government's Exploration Incentive Scheme (EIS) was successful at Zanthus. Rumble was awarded up to $150,000 in co-funding to drill test the highly prospective Zanthus Project bedrock conductors. The $150k grant will enable Rumble to utilise its cash reserves to fund further exploration on other Fraser Range exploration programs. The EIS is a competitive process with the company now receiving grants for both the Big Red and Zanthus projects highlighting the prospectivity of Rumble's Fraser Range projects.

Figure 4 Zanthus Project highlighting the eye feature, structural corridor and intrusive targets.

Big Red Project

The Big Red Project is located 450 kilometres east of Kalgoorlie in the Fraser Range Western Australia.

A maiden drill program was completed consisting of 4 Mud Rotary/Diamond drill holes totalling 1,503.9m with the programme designed to test a 2km EM conductor outlined by a high powered ground EM survey

Rumble has received all assays from its maiden drill program. The assays confirmed all three holes intersected large disseminated mineralised sulphide zones within gabbros of the Fraser Range Complex. These sulphide zones are of considerable widths and indicate this large conductor to be a significant mineralised system. Intersecting Fraser Range gabbro is of significance as it is the rock unit which can host magmatic Ni-Cu sulphide deposits.

Geochemistry

A review of the geochemistry indicates that all three holes intersected significant zones of Fraser Range gabbro with the largest over 40 metres thick. These gabbro sequences are high in Iron and Titanium oxides and of significance have zones of disseminated mineralised sulphides. These high Iron and Titanium (2.04%) oxide minerals are important indicators as to the fractionation history of the magma and more detailed work will help determine the effective mechanism required to concentrate these oxide minerals from the parent magma. The sulphides zones are anomalous in copper, nickel and cobalt. It is thought that the Big Red gabbro could be part of a layered mafic/ultramafic sequence and further geochemistry is now being undertaken along with detailed petrographic studies of the sulphide zones.

The Big Red gabbro also shows evidence of hybridisation. The GSWA has identified two main types of hybrid gabbros in the Fraser Range. These are formed where the main gabbros have incorporated felsic material through assimilation or magma mixing. They are formed through two distinct processes and are located throughout the Fraser Range. The Big Red gabbro forms part of Hybrid Group 1 which is enriched in Thorium and has high Th/La ratios. These gabbro units are thought to have been formed from the incorporation of surrounding felsic material into the main gabbro melt during ascent or emplacement.

The Company is now obtaining more detailed Platinum Group Element and Rare Earth Element geochemistry to further investigate the evolution of the Big Red gabbro to aid in future target generation for magmatic Nickel and Copper sulphides.

DHEM - Downhole EM Program

As previously reported on 23rd December the Company completed a DHEM program on the three holes that reached target depth. Ongoing modelling is being completed with the DHEM survey indicating numerous off hole conductors with 2 of high conductance modelled to date which may represent massive sulphide accumulations.

BDD002 has a broad off hole anomaly centred at 420m downhole and is sourced dominantly above and left of the hole (South west). This area contains both a gabbro unit with mineralised sulphides and a highly magnetic meta-sedimentary unit.

BDD003 has strong local off hole anomalies have been modelled 20m off hole centred at 390 to 400m downhole level. This area contains both a gabbro unit with mineralised sulphides and a highly magnetic meta-sedimentary unit. The results indicating multiple bodies of high conductance levels (~6000-8000S).

BDD004 has a broad off hole anomaly centred at 300-310m down hole, source below right (Northeast) at 100m. This area is close to a gabbro unit with mineralised sulphides.

Figure 5 & 6. Model of 2 conductors of high conductance surrounding hole BDD003.

NEXT STAGE EXPLORATION

Rumble has identified mineralised magmatic sulphide zones within a Fraser Range gabbro. In close proximity are significant bedrock conductors which may represent massive sulphide accumulations which are high priority targets. Before the next stage of drilling is to commence the next phase of technical work will need to be completed which will include:

• Detailed modelling of the Bedrock Conductors to determine the strike, dip and depth of the bodies.
• Detailed petrographic analysis of the magmatic sulphides;
• Lithogeochemical analysis of any rare earth and platinum group elements to determine if any fractionation trends are present;

Based on the results of this work the next phase of drilling will be planned in 2015 following the Zanthus drilling program.

CEO Comments

Rumbles CEO, Mr Shane Sikora, said: "Our systematic exploration approach continues to generate compelling Nickel Sulphide drill targets taking us that one step closer to finding the next major Nickel Discovery. Intersecting multiple mineralised sulphides zones of considerable widths within Fraser Range gabbro units at Big Red highlights the prospectivity for both nickel and copper massive sulphides to be present. As we know now it's a mineralised system the significant off hole conductors represent high grade targets as they may represent massive sulphide accumulations.

"Whilst we are conducting the necessary next steps to prepare for the next stage of Big Red Drilling, Rumble will drill the 5 bedrock conductors at the Zanthus project as scheduled. The 5 bedrock conductors located across an eye feature 20km's from Nova represent some of the most compelling targets in the Fraser Range. The world class Nova Massive Sulphide Nickel Copper Discovery was found through drilling a bedrock conductor within an "eye" intrusive".

"Rumble now has multiple nickel sulphide drill targets at Zanthus and Big Red. The company is in a position to schedule multiple drill programs to test these targets providing our shareholders with an exciting start to 2015".

Shane Sikora CEO

$-$ ENDS $-$

For further information visit rumbleresources.com.au or contact enquiries@rumbleresources.com.au.

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 of	Mud Rotary (MR) drilling of Pre-collars to$\bullet$depths between 138.8m to 173.5mHQ and NQ2 Diamond drilling to the$\bullet$Bottom of Hole for four holes. Corecollected ranges in length from 67.8m to284.0m.Sampling of the Diamond core has beencompleted on 1m intervals through themain gabbro units and every 5m throughthe other intervals. One quarter of thecore was then sent for analysis
Drillingtechniques	detailed information.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)	Mud Rotary (MR) drilling of Pre-collars todepths between 138.8m to 173.5mHQ and NQ2 Diamond drilling to theBottom of Hole for four holes. Corecollected ranges in length from 67.8m to284.0m.pre-collarsdrillingandDiamondundertaken by DDH1 Drilling, utilizing amultipurpose Sandvik 1200 drill rig andassociated equipment.Diamond Core is oriented using anelectronic reflex orientation tool at end ofeach run
Drill samplerecovery	Method of recording and assessing core and chip$\bullet$sample recoveries and results assessed.Measures taken to maximise sample recovery andensure representative nature of the samples.Whether a relationship exists between sample۰recovery and grade and whether sample bias mayhave occurred due to preferential loss/gain offine/coarse material.	Diamond drilling recoveries are recordedby the drillers at the end of each drillingrun and checked during logging byRumbles field staff
Logging	Whether core and chip samples have been$\bullet$geologically and geotechnically logged to a level ofdetail to support appropriate Mineral Resourceestimation, mining studies and metallurgical studies.Whether logging is qualitative or quantitative in$\bullet$nature. Core (or costean, channel, etc) photography.The total length and percentage of the relevant$\bullet$intersections logged.	The Diamond core has been geologically۰level of detail to belogged toamineralappropriateforresourceestimation.recordsdiamondLoggingcoreоfmineralization,mineralogy,lithology,weathering, colour and other appropriatefeatures.All logging is quantitative. All core traysphotographed.

Criteria	JORC Code explanation	Commentary
		All the diamond core (100%), totaling880.1m has been orientated andgeologically logged.
Sub-samplingtechniquesand 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 sub-sampling 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.	The core was cut on 1m intervals throughzones of gabbro and 5m intervals throughthe rest of the hole. A quarter coresample was then sent for analysis.
$of \bullet$Qualityassay dataandlaboratorytests	The nature, quality and appropriateness of theassaying and laboratory procedures used andwhether the technique is considered partial or total.For geophysical tools, spectrometres, handheld XRFinstruments, etc, the parametres 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.	• All samples were analysed using a 4 acidICP method with appropriate qualitycontrol measures.
Verificationof samplingandassaying	The verification of significant intersections by either$\bullet$independent 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 verification sampling has been atpresent, further analysis of the core isongoing.
Location$of$ $\bullet$data 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.	Drill hole collars were located by GPS.Expected accuracy is +/- 5m for northingand easting.The grid system is GDA94(MGA), zone51The GPS is +/- 5m, and an estimated RLis used from the 1:250,000
Dataspacing anddistribution	Data spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficient$\bullet$to 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.	Individual hole collars are spaced 200-300m apart.1m and 5m samples have been collectedto reflect the geology and style ofmineralisation.There has been no compositing of thedata.

Criteria	JORC Code explanation		Commentary
Orientationof datainrelationtogeologicalstructure	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.	$\bullet$	All core was oriented before samplingwas completed.
Samplesecurity	• The measures taken to ensure sample security.		Chain of custody is managed by RumbleResources. Drill core is stored on site.Core is palleted and steel strapped,before being transported to Kalgoorlieand then to a laboratory in Perth.
Audits$or \bullet$reviews	The results of any audits or reviews of samplingtechniques and data.		No audits or reviews have been carriedout at this stage

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineraltenementandtenurelandstatus	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.	The drilling is located wholly withinExploration Licence E28/2268, which is100% owned by Rumble.The Tenement is located on VacantCrown LandThe tenement is in good standing and noknown impediments exist.
Explorationdone by otherparties	Acknowledgment and appraisal of exploration byother parties.	The only previous exploration includes$\bullet$geophysical surveys by the GSWA andTeck Australia Pty.Ltd. Teck Australiacompleted two RC/Diamond holes during2010.
Geology	Deposit type, geological setting and style of$\bullet$mineralisation.	Geological setting is the Albany FraserMobile Belt consisting of gneiss, maficrocks including gabbro with significantgarnet in the metamorphic rocks.The Company is exploring for magmatichosted base metal mineralization.
DrillholeInformation	A summary of all information material to the$\bullet$understanding of the exploration results including atabulation of the following information for allMaterial drill holes:easting and northing of the drill hole collar$\circ$elevation or RL (Reduced Level – elevationabove sea level in metres) of the drill hole collardip and azimuth of the hole$\circ$down hole length and interception depth$\circ$hole length.$\circ$If the exclusion of this information is justified on the۰basis 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.	This information has been previouslyreleased to the ASX
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 short۰lengths 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 metal٠equivalent values should be clearly stated.	There was no weighting or averaging ofthe data
Relationshipbetweenmineralisationwidthsandinterceptlengths	These relationships are particularly important in the$\bullet$reporting 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').	All widths are at present thought to betrue widths.
Diagrams	Appropriate maps and sections (with scales) and$\bullet$tabulations of intercepts should be included for anysignificant discovery being reported These should	The results at this stage are preliminaryand work is ongoing.

Criteria	JORC Code explanation	Commentary
Balancedreporting	include, but not be limited to a plan view of drill holecollar locations and appropriate sectional views.Where comprehensive reporting of all Exploration$\bullet$Results is not practicable, representative reportingof both low and high grades and/or widths shouldbe practiced to avoid misleading reporting ofExploration Results.	The results presented are preliminaryand work is ongoing.
Othersubstantiveexplorationdata	Other exploration data, if meaningful and material,$\bullet$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.	• Previous ASX releases by RumbleResources Limited have detailed aspectsof previous work undertaken within theproject area.
Further work	The nature and scale of planned further work (eg$\bullet$tests for lateral extensions or depth extensions orlarge-scale step-out drilling).Diagrams clearly highlighting the areas of possible$\bullet$extensions, including the main geologicalinterpretations and future drilling areas, providedthis information is not commercially sensitive.	andthegeologystage,thisAtmineralization intersected is only broadlyunderstood and requires further downandsurveyinggeophysicalholeinterpretation, as well as further diamonddrilling.