RUMBLE RESOURCES LIMITED — Capital/Financing Update 2017

Nov 13, 2017

14th November 2017

Drilling has commenced targeting high grade Zinc, Lead and Copper at the Braeside Project, Pilbara WA

Stage 5 Exploration - Drilling at E45/2032

• Drilling has commenced targeting high-grade base metal mineralisation and EM conductors which may represent first order porphyry related (including VMS) polymetallic mineralisation.
• The high grade base metal target areas have grades up to 29.31% Zn, 79% Pb, 17.48% Cu, 325 g/t Ag, 13 g/t Au and V 1.03% throughout the 30km strike.
• Drilling will consist of a 2000m RC drill program targeting approximately 10-15 untested areas.

Rumble Resources Ltd (ASX: RTR) ("Rumble" or "the Company") is pleased to announce that the first modern drilling program at the Braeside Project (E45/2032), located in the Pilbara region of Western Australia, has commenced.

The drilling programme will consist of approximately 2,000m of RC drilling. Rumble has the capacity to extend the drill program, depending on results.

Image 1 – Strike Drilling rig operating at Braeside Project – November 2017

Rumble Resources Ltd

Suite 9, 36 Ord Street, West Perth, WA 6005

WEST PERTH WA 6005 T +61 8 6555 3980

PO Box 1916 F +61 8 6555 3981

rumbleresources.com.au

ASX RTR

Executives & Management

13.2 M unlisted options Mr Shane Sikora Managing Director

Market Cap $27.5 million (@31c) Mr Brett Keillor Technical Director

Mr Matthew Banks Non-executive Director

Tony Sage Mr Michael Smith Non-executive Director

Brett Smith Mr Steven Wood Company Secretary

Image 2 – Braeside Project Location, Geology and Prospect Map

RC Drill Targeting

Targeting has utilised preliminary MLTEM (Moving Loop Transient Electromagnetic survey) conductors (follow up of VTEM conductors), recent grab sampling, base metal in soil geochemical trends and reconnaissance prospecting to optimise priority targets for the current phase of RC drilling.

Rumble is drilling a small portion of the targets identified within E45/2032. Rumble has put in place plans to access these other identified targets after this current program, to generate further high order drill targets in early 2018.

The current programme will be the first modern RC drilling conducted at Braeside since 1951 and accordingly, drilling conditions and depth to potential mineralisation is unknown.

Over ten target areas are planned to be tested along 30km of strike. Targets included are known historic prospects that have returned very high-grade Zn, Pb and Cu grab sampling results and recent exploration results that have highlighted wide alteration zones associated with the high-grade base metal surface mineralisation.

The MLTEM programme (stage 4) has been completed and preliminary results have highlighted eight (8) low order early time conductors that correlate with known north trending mineralised structures. Some of the conductors will be tested by the current RC drill programme.

Image 3 – Ragged Hills Mine Area Location Plan (see Image 2 for Location) Soil Sampling Contours (Zn), Grab Sampling Results, Mineralised Structures and RC Drill Targets.

Image 4 – Ragged Hills East Area Location Plan (see Image 2 for Location) Cassius Clay Prospect – Zn+Pb Contouring, Grab Sample Results, MLTEM Conductor and RC Drill Target

High-grade base metal grab sampling results associated with the main mineralised structure that extends northnorthwest of the historic Ragged Hills Pb mine RC drill targets will be priority targets for the Ragged Hills Mine area (Image 3). Grab sampling by Rumble along the main steep east dipping mineralised structure (silica – sericite alteration) returned significant results (refer RTR ASX announcement - 16 October 2017) including:

• Pb – 42.8%, 31.5% and 30.7%
• Zn – 17.3%, 7.1%
• Cu – 15.1%

At the Cassius Clay Prospect (Ragged Hills East Area – Image 4), strongly mineralised and altered structures converge and up to 5 northwest trending zones have been identified. The mineralisation at surface is steep northeast dipping and a low order MLTEM conductor has been inferred within the footwall to the main structure. Grab sampling by Rumble (refer RTR ASX announcement - 16 October 2017) has returned high-grade mineralisation at surface with results including:

• Pb – 44.6%, 44.3%, 37%, 31.5%, 28.6% and 19.9%
• Cu – 17.5%
• Ag – 90 g/t, 77 g/t, 63 g/t and 48 g/t

A major altered and mineralised northwest trending and steep north east dipping structure with high grade surface base metal mineralisation associated with small scale artisanal workings at the Devon Cut Prospect (see Image6) is the main RC drill target. Grab sampling by Rumble (refer RTR ASX announcement - 16 October 2017) returned high-grade Pb and Zn mineralisation with strongly elevated Ag, Au and V. Results include:

• Pb – 32.7%, 29.5% and 23.2%
• Zn – 14.4% and 6.3%
• Ag – 85 g/t, 59 g/t and 38 g/t
• Au – 0.37 g/t and 0.17 g/t
• V – 1% and 0.85%

At the Hitman Hearns Target (see Image 7), the recent MLTEM survey has defined a 1.8km long low order early time conductor closely associated with a major north trending structure. The structure is in contact to flat west dipping carbonates, shales and cherts to the west and andesitic basalts to the east. Previous grab sampling completed by earlier explorers have returned copper mineralisation in flat lying cherts immediately west of the major structure. Reported rock chip sampling returned up to 5.3% Cu (refer RTR ASX announcement - 11 May 2017)

Multiple (four) low order early time MLTEM conductors are closely related to major north trending structures at the Barker Well Prospect (see Image 8). At the Barker Well Prospect, a wide zone of silica – sericite alteration returned strong base metal mineralisation and will be RC drill tested. Nearby a small historic working returned up to 38.1% Pb with elevated Zn (0.8%) and Cu (0.4%) (refer RTR ASX announcement - 16 October 2017).

Other targets (refer RTR ASX announcement - 16 October 2017) that will be tested by the current RC drill programme include:

• Sugar Ramos (see Image 2 for location) – very high grade Pb - 42.7% and 27.6%, Ag 72 g/t and strongly anomalous Au – 1.45 g/t associated with strong barium and potassium alteration represents a new occurrence.
• Mt Brockman (see Image 2) – high grade Pb – 12.3% with strong barium and potassium alteration located at historic workings.

Image 5 – Sugar Ramos New Discovery

Image 6. - Devon Cut Prospect Location Plan Grab sampling Results, Zn in Soil contouring and RC Drill Target

Image 7. – Hitman Hearns Target Location Plan RC Drill Target, Main Structure and Low Order MLTEM Conductor

Image 8. – Barker Well Prospect Location Plan, RC Drill Targets, Main Structure, Low Order MLTEM Conductors and Barker Well Grab Sampling

Background to Systematic Exploration Process of High Grade Zn – Pb – Cu – Ag - Au – V at the Braeside Project (E45-2032)

The Braeside Project E45-2032 consists of multiple high-grade zinc, lead, copper and silver deposits and occurrences associated with north to northwest trending fault fracture zones within mafic volcanics and volcaniclastics over a strike of at least 60 km. The poly-metallic mineralisation has not been tested by detailed geophysics, geochemistry and very limited drilling with only 10 known historic drill holes in 1928 and 1951.

High grade grab sampling assays have returned up to 29.31% Zn, 79% Pb, 17.48% Cu, 325 g/t Ag, 13 g/t Au and V 1.03% along 30km of strike within a potential 60km strike system.

Rumble's exploration program is the first modern systematic exploration program being undertaken at the Braeside High Grade Zinc – Lead Project.

Recent litho-geochemistry completed by Rumble suggests the mineralisation is associated with sub volcanic rhyolitic porphyry (Koongaling Felsic Volcanics) indicating potential for a VMS system capable of hosting a large base metal deposit.

Rumble's technical team lead by Technical Director Mr Brett Keillor is systematically exploring the Braeside Project generating first order VMS feeder pipe targets using proven, modern exploration techniques.

Stage	Exploration Activity	Progress
Stage 1	Regional soil geochemistry (multi-element) to coverBraeside Project Area	100% Completed
Stage 2	Fly Airborne VTEM	100% Completed
Stage 3	Infill geochemistry over metal trends and conductorsgenerated by VTEM in Stage 2 to help rank key drilltargets	100% Completed
Stage 4	GroundTEMsurveysovertheidentifiedVTEMconductors and high-grade base metal mineralisation	100% Completed
Stage 5	Drill test conductive plates and high-grade base metalmineralisation	Commenced

Image 9. – Historic Artisinal Ragged Hills Pb-Zn-Ag Mine operated up until 1959

Shane Sikora Managing Director

- ENDS -

For further information visit 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.

Forward Looking and Cautionary Statement

The information in this report that relates to exploration results from work completed by Rumble.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Brett Keillor, who is a Member of the Australasian Institute of Mining & Metallurgy and the Australian Institute of Geoscientists. Mr Keillor is an employee of Rumble Resources Limited. Mr Keillor 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 Keillor consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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.	•The project comprises of a singlegranted exploration license – E45/2032.•The license is currently owned byMaverick Exploration Pty Ltd. RumbleResources has an earn in JVagreement•The license is granted, in a state ofgood standing and has no knownimpediments to operate in the area.•In addition to the granted EL, Rumblehold 100% of five (5) contiguous ELapplications with a total area of1000km².
Explorationdone by otherparties	•Acknowledgment and appraisal of exploration byother parties.	•Exploration solely completed byRumble Resources
Geology	•Deposit type, geological setting and style ofmineralisation.	•Target is Zn, Pb, Cu and preciousmetals. Deposit type is conceptual.Porphyry related (including VHMS)polymetallic deposit type
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.	•No drilling reported
Dataaggregationmethods	•In reporting Exploration Results, weightingaveraging techniques, maximum and/or minimumgrade truncations (e.g. 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 drilling completed
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 lengthsare reported, there should be a clear statement tothis effect (e.g. 'down hole length, true width not	•Not applicable – no drilling completed

Criteria	JORC Code explanation	Commentary
	known').
Diagrams	•Appropriate maps and sections (with scales) andtabulations of intercepts should be included for any	•Image 1 – Strike Drilling Rig operatingat Braeside Project – E45/2032
	significant discovery being reported These shouldinclude, but not be limited to a plan view of drillhole collar locations and appropriate sectional	•Image 2 – Project location plan withlocation of latest prospects/targets ashighlighted in this report.
	views.	•Image 3 -Ragged Hills Mine AreaLocation Plan, Soil Sampling Contours(Zn),GrabSamplingResults,Mineralised Structures and RC DrillTargets.ThebasemapishighresolutionRGBGeoEye-1andWorldView 3 40cm Imagery
		•Image 4 -Ragged Hills East AreaLocation Plan, Cassius Clay Prospect –Zn+PbContouring,GrabSampleResults, MLTEM Conductor and RC DrillTarget. The base map is high resolutionRGB GeoEye -1 and WorldView 3 40cmImagery
		•Image 5 – Sugar Ramos New Discovery
		•Image 6 - Devon Cut Prospect LocationPlan, Grab sampling Results, Zn in Soilcontouring and RC Drill Target. Thebase map is high resolution RGBGeoEye -1 and WorldView 3 40cmImagery
		•Image 7–Hitman Hearns TargetLocation Plan, RC Drill Target, MainStructureandLowOrderMLTEMConductor. The base map is highresolutionRGBGeoEye-1andWorldView 3 40cm Imagery
		•Image8–BarkerWellProspectLocation Plan, RC Drill Targets,MainStructure,LowOrderMLTEMConductorsandBarker WellGrabSampling.ThebasemapishighresolutionRGBGeoEye-1andWorldView 3 40cm Imagery
		•Image 9. – Historic Artisinal RaggedHills Pb-Zn-Au Mine operated form 1901to 1959
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.	•The contouring on images 3,4 to 6 arebased on thresholds derived from"natural breaks" and 98th percentile(The range may vary).
		•Although percentiles were not used, the98th percentile for the 1662 sampledataset are:
		•Zn - >240 ppm
		•Pb - >244 ppm
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 test	Moving loop electromagnetic (MLEM)survey: The MLEM survey was managed byKhumsup Pty Ltd. The MLEM survey wasconducted within the E45/2032 project area.Key specifications of the MLEM survey are:
	results; bulk density, groundwater, geotechnicaland rock characteristics; potential deleterious or	Stations Spacing: 200mLoop: 400m, 200m

Criteria	JORC Code explanation	Commentary
	contaminating substances.	Line Spacing: 200m
		Components: x y z
		Orientation: X along line (local east ‐positive).
		Line direction: 180, 90 degrees
		Frequency: 0.5, 0.25 Hz
		Channels: SMARTem Standard.
		Receiver: Fluxgate
		Number turns: 1
		Current: Typically 50 A.
		Repeats: Minimum 3 consistent readingsper station.
		•Preliminary modelling hasdefined eight (8) low order,early time conductors.Most correlate with theprevious Maxwell late andearly time VTEMconductors announced 4thSeptember 2017 and 16thOctober 2017.
Further work	•The nature and scale of planned further work (e.g.tests 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.	Further work will be dependenton any drilling results achievedfrom this drill program.