RUMBLE RESOURCES LIMITED — Capital/Financing Update 2017

Sep 6, 2017

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7 September 2017

Option Agreement to Acquire Barramine Project

Highlights

Barramine Cu- Pb-Zn- Ag Project, Western Australia – E45/4368

• High-grade Cu, Pb, Zn and Ag prospects have not been tested by drilling or modern exploration

• The same geology and structure that hosts the historic high-grade Braeside Project Zn and Pb mineralisation extends into the Barramine Project

• Historic rock chip and channel samples collected confirms the high-grade nature of the project with assays up to 25.32% copper, 279 g/t silver, 6% lead and 1.8% zinc

• Recent exploration by Rumble within the Braeside Project identified significant base metal trends and VTEM conductors that appear to extend north into the Barramine Project

• Strategic opportunity to secure further prospective ground in the Braeside project area that may host significant porphyry and VMS base metal deposits

Rumble Resources Ltd (ASX: RTR) (“Rumble” or “the Company”) is pleased to announce that it has signed a binding option agreement to acquire up to 70% of the Barramine CuPb-Zn-Ag Project. This binding option agreement allows Rumble to complete due diligence for up to 3 months and if satisfied at its election enter a joint venture agreement.

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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 Managing Director

Mr Brett Keillor Technical Director

Mr Matthew Banks Non-executive Director

Mr Michael Smith Non-executive Director

Mr Steven Wood Company Secretary

Image 1 – Barramine project in relation to Braeside Project

The Barramine Project E45/4368 is located approximately 150km ENE of Marble Bar in the Pilbara Region of Western Australia (Image 1) and is contiguous to the Braeside Project. The Barramine Project covers the northern extension of the Fortescue and Hamersley Group Rocks (Late Archaean) that lie within Rumble's Braeside Project.

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The Barramine Project hosts shales, siltstones, carbonates and mafic volcanics of the Lower Hamersley Group which in turn overlies andesites, basalts, volcaniclastics, sediments and porphyry of the Fortescue Group.

The north and northwest trending faults/structural zones, some with associated base metal mineralisation are hosted in Fortescue Group intermediate/mafic volcanics and volcaniclastics in association with the Koongaling Felsic Volcanics. The felsic volcanics are bimodal with the Fortescue Group basalts and are potentially the source of the poly-metallic mineralisation.

Previous Exploration

The Barramine Project consists of a number of untested high-grade Cu, Pb, Zn, Ag and Au prospects and occurrences associated with a major NNW fault zone within mafic volcanics and volcaniclastic.

Two locations within the Barramine Project have been subject to historical prospecting pits and minor grab sampling for base metals in the Barramine and Camel Hump Prospects. Both prospects are related to steep NNW trending reverse faults that contain copper, lead, Zinc and silver. Previous work has shown the historical samples were taken on the structures to be similar in style to the Braeside-style structures to the south east.

• At the Barramine prospect a channel sample collected by Blatchford in 1925 assayed 25.32% copper, 279 g/t silver, and a trace of lead.

• At the Camel Hump prospect , rock chip samples were assayed up to 13.4% Copper, 6% Lead, 1.8% Zinc and 131 g/t Silver

Exploration Potential

Rumble recently completed exploration at the Braeside Project which identified significant base metal trends and VTEM conductors that appear to extend north into the Barramine Project - See image 2 and image 3.

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Image 2 – VTEM Conductors at Braeside Project open to Barramine Project

Very limited modern exploration to the South East of the Barramine project with the poly-metallic mineralisation not been tested by detailed geophysics, geochemistry and drilling. Subject to successful completion of due diligence and exercise of the option, the Company will outline its proposed exploration program

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Image 3 – Zinc geochemistry at Braeside project open to Barramine project

Rumble’s Managing Director, Mr Shane Sikora, said : Rumble are pleased to secure the option to acquire the high grade Barramine project. Our recently announced exploration results at the Braeside Project identified significant base metal trends and VTEM conductors that appear to extend north into the geological structures of the Barramine Project. Historic sampling has highlighted the high grade nature of the Project with the key geological structures unexplored for base metals with modern exploration techniques.

Based on the earlier litho-geochemistry work competed by Rumble which identified the VMS potential of the Braeside project, and the exploration work completed to date, Rumble has strategically worked to secure all the prospective ground in the Braeside Project area in the event a new VMS province is discovered.”

Key Commercial Terms of the Barramine Binding Option Agreement

Rumble has signed a binding option agreement with Great Sandy Pty Ltd and paid a A$10,000 fee to secure a three month exclusivity period to finalise due diligence.

If Rumble elects to exercise the option within the 3 months exclusivity period, Rumble agrees to enter a joint venture agreement to acquire 70% of the title and interest in the Barramine Project based on the below terms:

• a. RTR to earn 70% by expending A$1,500,000 on exploration over a period of 3 years from the execution of the joint venture agreement.

• b. RTR to expend a minimum $100,000 before it can withdraw from the joint venture agreement.

• c. Rumble to pay Great Sandy Pty Ltd $50,000 in RTR ordinary shares within 90 days from the joint venture agreement.

• d. Great Sandy Pty Ltd is free carried to BFS.

• e. Following the completion of a BFS and decision to mine, Great Sandy Pty Ltd can either elect to contribute to ongoing project development or dilute to a 1.5% NSR.

• f. Great Sandy Pty Ltd will reserve and retain all rights relating to manganese and iron ore.

• ENDS –

About Rumble Resources Ltd

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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 historic exploration results was collected from DMP reports submitted by government agencies and previous explorers. Rumble has not completed the historical data or the verification process. As sufficient work has not yet been done to verify the historical exploration results, investors are cautioned against placing undue reliance on them.

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.

Appendix A

Table 1 – Barramine Project - Significant Historical Assays - Camel Hump prospect

Sample ID	AU	Ag	Cu	Pb	Zn
Units	**Ppb **	**Ppm **	**Ppm **	**Ppm **	**Ppm **
CHMR1	34	27.5	1.40%	6.04%	1.80%
CHMR2	77	131	13.40%	3.08%	512
CHMR3	-	2	6470	1380	1270
CHMR4	-	1	3690	438	32
CHMR5	-	1	1150	427	108
CHMR6	-	0.5	100	42	44
CHMR7	-	-0.5	528	26	24
CHMR8	-	-0.5	270	188	32
CHMR9	-	-0.5	110	226	58
CHMR10	-	-0.5	84	23	10
CHMR11	-	-0.5	6650	20	24
CHMR12	15	3	1.78%	419	250

Section 1 Sampling Techniques and Data

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Criteria		JORC Code explanation			Commentary	Commentary
Sampling		Nature and quality of sampling (e.g. cut channels,
techniques		random chips, or specific specialised industry		Grab sampling		completed over	the
		standard measurement tools appropriate to the		Camel	Hump Prospect.		The
		minerals under investigation, such as down hole		sampling was		limited to inferred
		gamma sondes, or handheld XRF instruments, etc.).		zone of	mineralisation.
		These examples should not be taken as limiting the
		broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration		Rumble has an exclusivity option non manganese and iron rights.			for
	 	of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse		Previous exploration has focused on delineating manganese deposits. Limited base metal exploration completed.
		circulation drilling was used to obtain 1 m samples
		from which 3 kg was pulverised to produce a 30 g
		charge for fire assay’). In other cases more
		explanation may be required, such as where there is
		coarse gold that has inherent sampling problems.
		Unusual commodities or mineralisation types (e.g.
		submarine nodules) may warrant disclosure of
		detailed information.
Drilling		Drill type (e.g. core, reverse circulation, open-hole
techniques		hammer, rotary air blast, auger, Bangka, sonic, etc.)		Not applicable -		no drilling
		and details (e.g. core diameter, triple or standard		completed.
		tube, depth of diamond tails, face-sampling bit or
		other type, whether core is oriented and if so, by what
		method, etc.)..
Drill sample		Method of recording and assessing core and chip		Not applicable -		no drilling
recovery		sample recoveries and results assessed.		completed.
		Measures taken to maximise sample recovery and
		ensure representative nature of the samples.
		Whether a relationship exists between sample
		recovery and grade and whether sample bias may
		have occurred due to preferential loss/gain of
		fine/coarse material.
Logging		Whether core and chip samples have been		Not applicable -		no drilling
		geologically and geotechnically logged to a level of		completed.
		detail to support appropriate Mineral Resource
		estimation, mining studies and metallurgical studies.
		Whether logging is qualitative or quantitative in
		nature. Core (or costean, channel, etc.) photography.
		The total length and percentage of the relevant
		intersections logged.
Sub-		If core, whether cut or sawn and whether quarter, half		Not applicable -		no drilling
sampling		or all core taken.		completed.
techniques		If non-core, whether riffled, tube sampled, rotary split,
and sample		etc. and whether sampled wet or dry.
preparation		For all sample types, the nature, quality and
		appropriateness of the sample preparation technique.
		Quality control procedures adopted for all sub-
		sampling stages to maximise representivity of
		samples.
		Measures taken to ensure that the sampling is
		representative of the in situ material collected,
		including for instance results for field
		duplicate/second-half sampling.
		Whether sample sizes are appropriate to the grain
	
		size of the material being sampled.

Criteria		JORC Code explanation		Commentary
Quality	of	 The nature, quality and appropriateness of the		Grab sampling was random along
assay data		assaying and laboratory procedures used and		inferred mineralisation zones
and		whether the technique is considered partial or total.		Assaying by Ultratrace. Digest was
laboratory		 For geophysical tools, spectrometers, handheld XRF		four acid (total digest) with ICP MS
tests		instruments, etc., the parameters used in determining		finish. Assay charge of 40 gram.
		the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.		QA/QC internal laboratory standards, blanks and duplicates.
		 Nature of quality control procedures adopted (e.g.
		standards, blanks, duplicates, external laboratory
		checks) and whether acceptable levels of accuracy
		(i.e. lack of bias) and precision have been
		established.
Verification		 The verification of significant intersections by either
of sampling		independent or alternative company personnel.		Not applicable - no drilling
and		 The use of twinned holes.		completed.
assaying		 Documentation of primary data, data entry
		procedures, data verification, data storage (physical
		and electronic) protocols.
		 Discuss any adjustment to assay data.
Location	of	 Accuracy and quality of surveys used to locate drill		Soil sampling was located by hand held
data points		holes (collar and down-hole surveys), trenches, mine		GPS using GDA94 Z51 as datum.
		workings and other locations used in Mineral
		Resource estimation.
		 Specification of the grid system used.
		 Quality and adequacy of topographic control.
Data		 Data spacing for reporting of Exploration Results.
spacing and distribution		 Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and		Not applicable as no drilling completed.
		Ore Reserve estimation procedure(s) and
		classifications applied.
		 Whether sample compositing has been applied.
Orientation		 Whether the orientation of sampling achieves		Grab sampling random
of data	in	unbiased sampling of possible structures and the
relation	to	extent to which this is known, considering the deposit	.
geological		type.
structure		 If the relationship between the drilling orientation and
		the orientation of key mineralised structures is
		considered to have introduced a sampling bias, this
		should be assessed and reported if material.
Sample		 The measures taken to ensure sample security.		Unknown due to being historical
security				samples
Audits	or	 The results of any audits or reviews of sampling		Unknown due to being historical
reviews		techniques and data.		samples

Section 2 Reporting of Exploration Results

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Criteria			JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral				Type, reference name/number, location and		The project comprises of a single
tenement		and		ownership including agreements or material issues		granted exploration licence – E45/4368.
land status	tenure			with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national		The licence is currently owned by Great Sandy Pty Ltd. Rumble Resources has an exclusivity option to acquire 70% of
				park and environmental settings.		the licence.
				The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.		The licence is granted, in a state of good standing and has no known impediments to operate in the area.
Exploration				Acknowledgment and appraisal of exploration by		Exploration for base metals by Great
done by	other			other parties.		Sandy Pty Ltd.
parties
Geology				Deposit type, geological setting and style of		Target is Zn, Pb, Cu and precious
				mineralisation.		metals. Deposit type is conceptual.
Drill	hole			A summary of all information material to the		No drilling reported
Information				understanding of the exploration results including a
				tabulation of the following information for all
				Material drill holes:
				o easting and northing of the drill hole collar
				o elevation or RL (Reduced Level – elevation
				above sea level in metres) of the drill hole collar
				o dip and azimuth of the hole
				o down hole length and interception depth
				o hole length.
				If the exclusion of this information is justified on the
				basis that the information is not Material and this
				exclusion does not detract from the understanding
				of the report, the Competent Person should clearly
				explain why this is the case.
Data				In reporting Exploration Results, weighting		No drilling completed
aggregation				averaging techniques, maximum and/or minimum
methods				grade truncations (e.g. cutting of high grades) and
				cut-off grades are usually Material and should be
				stated.
				Where aggregate intercepts incorporate short
				lengths of high grade results and longer lengths of
				low grade results, the procedure used for such
				aggregation should be stated and some typical
				examples of such aggregations should be shown in
				detail.
				The assumptions used for any reporting of metal
				equivalent values should be clearly stated.
Relationship				These relationships are particularly important in the		Not applicable – no drilling completed
between				reporting of Exploration Results.
mineralisation				If the geometry of the mineralisation with respect to
widths		and		the drill hole angle is known, its nature should be
intercept				reported.
lengths				If it is not known and only the down hole lengths are
				reported, there should be a clear statement to this
				effect (e.g. ‘down hole length, true width not
				known’).

Criteria	JORC Code explanation	Commentary
Diagrams	 Appropriate maps and sections (with scales) and		Image 1 presents the Barramine Project
	tabulations of intercepts should be included for any significant discovery being reported These should		in conjunction with Rumbles Braeside Project
	include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.		Images 2 & 3 highlights recent exploration by Rumble which includes a
			VTEM and regional geochemistry
			programme. The images show the
			likelihood that elevated Zn in soil
			geochemistry and late time conductors
			pass into the Barramine Project. The
			underlying geology is based on GSWA
			mapping.
			Table 1 presents the rock chip samples
			collected in the Camel Hump prospect
			area.
Balanced	 Where comprehensive reporting of all Exploration		Limited data for base metal exploration
reporting	Results is not practicable, representative reporting
	of both low and high grades and/or widths should
	be practiced to avoid misleading reporting of
	Exploration Results.
Other	 Other exploration data, if meaningful and material,		No systematic soil sampling completed.
substantive exploration data	should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test		Image 1 refers to a channel sampling reported by Blatchford (1925). A channel sample of undetermined length returned 25.32% Cu and 279 g/t Ag
	results; bulk density, groundwater, geotechnical		from a silicified fault zone.
	and rock characteristics; potential deleterious or
	contaminating substances.
Further work	 The nature and scale of planned further work (e.g.		Due diligence is being completed during
	tests for lateral extensions or depth extensions or		the exclusivity option period.
	large-scale step-out drilling).
	 Diagrams clearly highlighting the areas of possible
	extensions, including the main geological
	interpretations and future drilling areas, provided
	this information is not commercially sensitive.