RUMBLE RESOURCES LIMITED — Capital/Financing Update 2019

Sep 18, 2019

19th September 2019

Drilling commenced to test shallow conductors targeting Ni-Cu-PGE deposits at Panache Project, Sudbury, Canada

Panache Ni-Cu-Co-Au-PGE Project, Greater Sudbury, Canada

• Area B – Diamond drilling has commenced testing two parallel shallow conductors that could represent a potential massive/semi-massive sulphide zone with associated stringer sulphide mineralisation within disseminated sulphides hosted in gabbro (Nipissing Gabbro).
• Two compelling conductors are located in an area with exposed mineralised gossans up to 10m in width and up to 950m of strike with grab sampling results including Cu to 1.61%, Ni to 0.49%, Co to 1.1%, Au to 1.64 g/t, Pt to 1.64 g/t and Pd to 1.58 g/t.
• No previous drilling Over 8km of prospective mineralised strike (Gabbro Contact) has not been drill tested
• Since 1883, the Sudbury mining field has accounted for over 25% of the world's total nickel production and new discoveries continue to be made. It is one of the most productive nickel-mining fields in the world with over 1.7 billion tonnes of past production, reserves and resources

Rumble Resources Ltd (ASX: RTR) ("Rumble" or "the Company") is pleased to announce that it has commenced diamond core drilling at the Panache Project located in Sudbury, Canada.

The drill programme is anticipated to take approximately one week to complete, with a further two weeks for assays to subsequently be completed.

Image 1. Diamond Core Drill Rig setting up at the Panache Project

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

About Panache Ni-Cu-Co-Au-PGE Project

The Panache Project (33.5km² in area) is located 40km southwest of the city of Sudbury, Ontario, Canada. The project hosts a large portion of the Lac Panache gabbro intrusion which is part of the regionally extensive Nipissing Gabbro Suite. The Lac Panache Gabbro intrusion is interpreted to be an arcuate, generally southerly dipping mafic sill (feeder) with increased disseminated Cu – Ni sulphides with stringer to massive sulphide towards the base.

Note: Within the project area, some 8 km of mineralised strike (Gabbro contact - see image 2) has been inferred. The current GTEM survey has only tested 1.2km of strike (area of sub crop) - there has been no previous drilling.

Rumble completed a ground TEM over Area B (refer ASX announcement 12 March 2019) over exposed gossans (up to 10m wide and 950m of strike) where grab sampling identified;

o Cu to 1.61%, Ni to 0.49%, Co to 1.1%, Au to 1.64 g/t, Pt to 1.64 g/t and Pd to 1.58 g/t.

The GTEM delineated two co-incident conductors at a shallow depth of 40m (see image 3 & 4).

• Conductor A has a strong conductive response (9000 siemens) and is considered to be semi to massive sulphide.
• Conductor B has a lower conductive response (400 siemens) and is considered to be a zone of stringer sulphide.

Image 2 – Geology, sampling, GTEM survey, Conductors & 8kms of Gabbro contact **Image 4 –**Section Highlighting Conductors and

Proposed Drill Hole

Image 3 - Area B –Grab sample Results, Mineralised gossans, Image 5 – Exposed Wide Mineralised Gossans – Area B location of conductors & proposed drill hole (up to 10m wide and 950m of strike)

Diamond Drilling Commenced

Rumble has commenced a single diamond drill hole to test the two compelling conductors - See image 2, 3 & 4.

About Sudbury Mining District

Since 1883, the Sudbury mining field has accounted for over 25% of the world's total nickel production and new discoveries continue to be made. It is one of the most productive nickel-mining fields in the world with over 1.7 billion tonnes of past production, reserves and resources. Nickel-copper and platinum group metals ("PGM") bearing sulphide minerals occur in a 60 km by 27 km elliptical igneous body called the Sudbury Igneous Complex ("SIC"). The current model infers the SIC was formed some 1,844 million years ago after sheet-like flash/impact melting of nickel and copper bearing rocks by a meteorite impact. The SIC is within a basin like structure (Sudbury Basin) which had been covered by later sediments and has subsequently been eroded to the current level. Mineralization occurs within the SIC as well as in the neighbouring country rocks in close association with breccias and so-called 'Offset Dykes'.

Image 6 – Location of Long Lake & Panache Project – Greater Sudbury Region, Ontario, Canada

About Rumble Resources Ltd

- ENDS –

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.

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Samplingtechniques	Nature and quality of sampling (e.g. 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 thatare Material to the Public Report.In cases where 'industry standard' work has beendone this would be relatively simple (e.g. '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 (e.g.submarine nodules) may warrant disclosure ofdetailed information.	Historic surface sampling conducted onthe Panache Project were acombination of cut channels (bydiamond saw), random rock chips andin some cases sub-crop representativeof the area of interest.Result for grab and channel sampleshave been presented in previousannouncement (Option Agreement forCanadian Ni-Cu-Co-PGM-Au Projects –th Aug 2018)9Historic sampling. The weight/volumeof the sample is not known.
Drillingtechniques	Drill type (e.g. core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic, etc.)and details (e.g. core diameter, triple or standardtube, depth of diamond tails, face-sampling bit orother type, whether core is oriented and if so, bywhat method, etc.)	No known previous drilling has beenconducted over Area B on the PanacheProject
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.	Not applicable as no drilling.
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.	Not applicable as no logging.
Subsamplingtechniquesand samplepreparation	If core, whether cut or sawn and whether quarter,half or all core taken.If non-core, whether riffled, tube sampled, rotarysplit, etc. and whether sampled wet or dry.For all sample types, the nature, quality andappropriateness of the sample preparationtechnique.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 grainsize of the material being sampled.	Not applicable as no drilling.

Criteria	JORC Code explanation		Commentary
Qualityofassay dataandlaboratorytests	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 indetermining the analysis including instrument makeand model, reading times, calibrations factorsapplied and their derivation, etc.Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy(i.e. lack of bias) and precision have beenestablished.		Not applicable as no assays.
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.		Not applicable as no sampling orassaying.
Location ofdata 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.		Not applicable as no drilling.
Dataspacing anddistribution	Data spacing for reporting of Exploration Results.Whether the data spacing and distribution issufficient to establish the degree of geological andgrade continuity appropriate for the MineralResource and Ore Reserve estimation procedure(s)and classifications applied.Whether sample compositing has been applied.		Not applicable as no drilling.
Orientationofdatainrelationtogeologicalstructure	Whether the orientation of sampling achievesunbiased sampling of possible structures and theextent to which this is known, considering thedeposit type.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.		Not applicable as no drilling.
Samplesecurity	The measures taken to ensure sample security.		Not applicable as no samples.
Auditsorreviews	The results of any audits or reviews of samplingtechniques and data.		Not applicable as no samples toaudit

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineraltenementandlandtenurestatus	Type, reference name/number, location and ownershipincluding agreements or material issues with third partiessuch as joint ventures, partnerships, overriding royalties,native title interests, historical sites, wilderness ornational park and environmental settings.The security of the tenure held at the time of reportingalong with any known impediments to obtaining a licenceto operate in the area.	The Lac Panache Projectcomprises of 151 blocks (newOntario cell system) for anarea of 33.5km². The blocksare solely owned by GordonSalo, Whitefish, Ontario.Rumble has a JV agreement toacquire projects 100%.The project tenure is grantedand are in good standingsubject to the Ministry ofNorthern Development andMines, Ontario, Canada.
Exploration	Acknowledgment and appraisal of exploration by other	Previous exploration on the
done by otherparties	parties.	Panache Project includes:oGrab sampling,prospect mappingand petrography byPacific North WestCapital Corp,Mustang MineralsCorp and ArgosyMinerals Corp from2000 to 2006.oThe owner, GordonSalo has
		systematicallytrenched andsampled since 1987.
Geology	Deposit type, geological setting and style of mineralisation.	For the Panache Project, thedeposit is disseminated tomassive Ni-Cu-PGM sulphidesassociated with differentiationand or contact upgrading ofgabbroic sills and potentialfeeder zones.
DrillholeInformation	A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for all Material drillholes:oeasting and northing of the drill hole collaroelevation or RL (Reduced Level – elevation above sealevel 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 the basisthat the information is not Material and this exclusiondoes not detract from the understanding of the report, theCompetent Person should clearly explain why this is thecase.	Not applicable as nodrilling.
Dataaggregationmethods	In reporting Exploration Results, weighting averagingtechniques, maximum and/or minimum grade truncations(e.g. cutting of high grades) and cut-off grades areusually Material and should be stated.Where aggregate intercepts incorporate short lengths ofhigh grade results and longer lengths of low graderesults, the procedure used for such aggregation shouldbe stated and some typical examples of suchaggregations should be shown in detail.The assumptions used for any reporting of metal	Not applicable as nodrilling.

Criteria	JORC Code explanation	Commentary
Relationshipbetweenmineralisationwidthsandinterceptlengths	equivalent values should be clearly stated.These relationships are particularly important in thereporting of Exploration Results.If the geometry of the mineralisation with respect to thedrill hole angle is known, its nature should be reported.If it is not known and only the down hole lengths arereported, there should be a clear statement to this effect(e.g. 'down hole length, true width not known').	Not applicable as nodrilling.
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 hole collarlocations and appropriate sectional views.	Image 1 – Diamond Core DrillRig setting up at the PanacheProject.Image 2 - Lac Panache Project–Geology, Grab Sampling,Current GTEM Survey andProspective Gabbro ContactImage 3 -Area B –GrabsampleResults,Mineralisedgossans, location of conductors& proposed drill holeImage 4 – Proposed Drill-holeto test Conductors.Image 5 – Exposed WideMineralised Gossans – Area B(up to 10m wide and 950m ofstrike)Image 6 – Location of LongLake & Panache ProjectGreater Sudbury region,Ontario, Canada
Balancedreporting	Where comprehensive reporting of all Exploration Resultsis not practicable, representative reporting of both lowand high grades and/or widths should be practiced toavoid misleading reporting of Exploration Results.	Exploration results previouslyreported in Announcement(Option Agreement forCanadian Ni-Cu-Co-PGM-Auth Aug 2018)Projects – 9
Othersubstantiveexplorationdata	Other exploration data, if meaningful and material, shouldbe reported including (but not limited to): geologicalobservations; geophysical survey results; geochemicalsurvey results; bulk samples – size and method oftreatment; metallurgical test results; bulk density,groundwater, geotechnical and rock characteristics;potential deleterious or contaminating substances.	Ground TEM completed byDiscovery InternationalGeophysics Feb 2019 at LacPanacheoFixed Loop TEM on200m line spacingwith 100m stations.Single infill line at100m spacing.oTransmitter 20 ampwith SMARTEM24Receiver and HTSquid SensoroArea of 1.2km by 1kmcompleted.
Further work	The nature and scale of planned further work (e.g. testsfor lateral extensions or depth extensions or large-scalestep-out drilling).Diagrams clearly highlighting the areas of possibleextensions, including the main geological interpretationsand future drilling areas, provided this information is notcommercially sensitive.	Planned diamond drill hole totest conductors at LacPanache has commenced