RUMBLE RESOURCES LIMITED — Capital/Financing Update 2019

Mar 24, 2019

`

25[th ] March 2019

MUNARRA GULLY PROJECT UPDATE AND CLEANSING NOTICE

Highlights

Project Status

• Based on the significant Cu-Au exploration results, unique style of mineralisation and large scale potential , Rumble has exercised the option to acquire the Munarra Gully M51/122 and E51/1677 projects

• A further strategic highly prospective tenement (E51/1919), contiguous to the north eastern boundary of the existing Munarra Gully Project area, has been 100% acquired

Next Steps

Airborne magnetic survey

• Survey has been completed to aid in delineating potential Cu-Au bearing intrusive, help understand structural trends and to assist targeting for the upcoming drill program – Rumble completing assessment of data and will release results once finalised

Air core and RC drilling on track for April 2019, key objectives include:

• Extend the 800m strike of known Cu-Au mineralisation at the White Rose prospect with shallow air core drilling

• Test the recently defined zones (up to 80m wide) of copper-gold mineralisation and the new Ni-Cu target at White Rose prospect, with deeper RC drilling

• Complete air core drilling traverses over the recently defined copper in soil targets and potential strike under cover at E51/1677

Rumble Resources Ltd (ASX: RTR) (“Rumble” or “the Company”) is pleased to announce that it has provided notice to the vendors that it has exercised the option for the Munarra Gully Project’s M51/122 and E51/1677 acquisitions as per the original announcement dated 27 February 2018 (Project). The Company has also acquired 100% of the strategic, highly prospective tenement E51/1919 contiguous to the Project’s north eastern boundary for 400,000 ordinary shares.

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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: Munarra Gully Project with new tenement E51/1919 on historic magnetics

Munarra Gully Project Overview

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Exploration Target: Multiple copper-gold bearing mafic (norite) intrusions.

• The style of mineralisation is likely magmatic and is atypical with respect to mineralised mafic intrusive systems due to high Cu:Ni ratios, high Au and Ag, low S and elevated PGM’s

• The style is similar to known large copper rich mafic intrusive (ortho-pyroxenite) historical deposits in Brazil (Caraiba mining district – 96Mt @1.82% Cu reserve and production) and South Africa (Okiep mining district – Koperberg – 94Mt @ 1.75% Cu historic production). Gold, silver and PGM’s are associated with these copper deposits

The Munarra Gully Project is located some 50km NNE of the town of Cue within the Murchison Goldfields.

Maiden RC Drill Program – New Significant Cu-Au Discovery – M51/122

• Four RC drill-holes returned significant copper-gold mineralisation from a fine to medium grain intrusive pyroxenite (norite) at the White Rose Prospect

• Results included: – 22m @ 1% Cu from 29m coincident with 19m @ 2.19 g/t Au from 33m . Maximum Cu was 2.66% (40-41m). Maximum Au was 11.56 g/t (49-50m)

• Shallow air-core drilling has extended the strike potential of the copper-gold mineralisation to over 800m, significantly adding scale potential to the project – strike open west and northeast

• New target type - A north-south trending magnetic target tested by the air-core drilling confirmed an ultramafic intrusive (pyroxenite) which returned Ni to 4008 ppm and Cu to 1061 ppm near surface

E51/1677 – Regional Geochemistry

Infill lag (soil) sampling defined was successful in defining four high order copper drill targets over a strike of 3.6km.

1. Copper A1 Anomaly – 600m strike, up to 400m wide with copper to 437 ppm

2. Copper A2 Anomaly – 500m strike with copper to 444 ppm

3. Copper A3 Anomaly – 2000m strike with copper to 620 ppm and gold to 35 ppb

4. Copper A4 Anomaly – 200m strike with copper to 916 ppm and gold to 19 ppb

5. No previous copper exploration has been completed over these new targets

6. Additional 4km of potential strike is under cover between the Cu soil anomalism and White Rose Cu – Au mineralisation and is a priority target

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Image 2: Drill Targets - White Rose Prospect 800m of significant Cu-Au, 3.6km Cu in Lag Anomalism and 4km of potential strike under cover between the Cu soil anomalism and White Rose Cu – Au

Next Steps

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Airborne Magnetic Survey

Rumble has completed an airborne magnetic survey over the main copper anomalous trend at Munarra Gully. The survey had flight lines at 330° (optimum to main magnetic units), line spacing at 100m and a sensor height at 45m. The survey will provide better resolution and definition to aid in identifying the main host unit for the copper-gold mineralisation, assist in understanding the structure for the upcoming drill program. Rumble is completing assessment of data and will release results once finalised.

Air core and RC drilling on track for April 2019, key objectives include:

• Extend the 800m strike of known Cu-Au mineralisation at the White Rose prospect with air core drilling

• Test the recently defined zones (up to 80 metres) of copper-gold mineralisation with deeper RC drilling

• Complete air core drilling traverses over the recently defined 3.6kms of copper in soil targets

• Complete air core drilling traverses over the approximate 4km of potential strike under cover between the copper in lag anomalism and the White Rose Cu – Au mineralisation

Airborne Magnetic Survey – East Pilbara

The Company advises that is has completed an airborne magnetic survey for the Braeside, Barramine and Lamil Projects in the east Pilbara region of Western Australia. Results from the survey are not yet available, and the Company will release full details of the programs and results as soon as they are available.

Cleansing Notice

Rumble Resources Limited (Company) (ASX: RTR) hereby notifies the ASX under section 708A(5)(e) of the Corporations Act 2001 (Cth) (Corporations Act) that on Friday 22 March 2019 the Company issued 2,548,084 fully paid ordinary shares in respect of the elections to exercise the options to acquire the Munarra Gully Project, as originally announced to the ASX on 27 February 2018. The Company has issued a further 400,000 fully paid ordinary shares as consideration for the acquisition of tenement application E51/1919 which will form part of the Munarra Gully Project. The shares have been issued under the Company’s existing placement capacity under ASX Listing Rule 7.1. The Company gives notice pursuant to Section 708A(5)(e) of the Corporations Act that:

1. The shares were issued without disclosure under Part 6D.2, in reliance on and providing notice under Section 708A(5) of the Corporations Act.

2. The Company, as at the date of this notice, has complied with:

a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and b) section 674 of the Corporations Act.

1. As at the date of this notice, there is no information, for the purposes of section 708A(7) and 708A(8): a) that has been excluded from a continuous disclosure notice in accordance with the ASX Listing Rules; and b) that investors and their professional advisers would reasonably require for the purpose of making an informed assessment of:

2. i. the assets and liabilities, financial position and performance, profits and losses and prospects of the Company; or

3. ii. the rights and liabilities attaching to the shares.

Please refer enclosed Appendix 3B for further detail in respect of the issue of shares.

• 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.

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 01/07/96 Origin: Appendix 5 Amended 01/07/98, 01/09/99, 01/07/00, 30/09/01, 11/03/02, 01/01/03, 24/10/05, 01/08/12, 04/03/13

Name of entity

Rumble Resources Limited

ABN

74 148 214 260

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of+securities issued or to be issued 2 Number of+securities issued or to be issued (if known) or maximum number which may be issued 3 Principal terms of the+securities (e.g. if options, exercise price and expiry date; if partly paid +securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)	Fully Paid Ordinary Shares
	1) 2,548,084 2) 400,000
	1) Fully Paid Ordinary Shares 2) Fully Paid Ordinary Shares

4 Do the+securities rank equally in all respects from the+issue date with an existing+class of quoted +securities? If the additional+securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 5 Issue price or consideration 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets) 6a Is the entity an+eligible entity that has obtained security holder approval under rule 7.1A? If Yes, complete sections 6b – 6h in relation to the+securities the subject of this Appendix 3B, and comply with section 6i 6b The date the security holder resolution under rule 7.1A was passed 6c Number of+securities issued without security holder approval under rule 7.1 6d Number of+securities issued with security holder approval under rule 7.1A	1) Yes, rank equally with existing fully paid ordinary shares. 2) Yes, rank equally with existing fully paid ordinary shares.
	1) Non-cash. Deemed to be $0.049 per share. 2) Non-cash. Deemed to be$0.051per share
	1) Issued pursuant to option agreements to acquire Munarra Gully Project, as released to the ASX on 27 February 2018 2) Issued pursuant to an agreement to acquire application E51/1912
	Yes
	28 November 2018
	2,948,084
	Nil

• See chapter 19 for defined terms.

Appendix 3B Page 2

04/03/2013

6e Number of+securities issued with security holder approval under rule 7.3, or another specific security holder approval (specify date of meeting) 6f Number of+securities issued under an exception in rule 7.2 6g If+securities issued under rule 7.1A, was issue price at least 75% of 15 day VWAP as calculated under rule 7.1A.3? Include the +issue date and both values. Include the source of the VWAP calculation. 6h If+securities were issued under rule 7.1A for non-cash consideration, state date on which valuation of consideration was released to ASX Market Announcements 6i Calculate the entity’s remaining issue capacity under rule 7.1 and rule 7.1A – complete Annexure 1 and release to ASX Market Announcements 7 +Issue dates Note: The issue date may be prescribed by ASX (refer to the definition of issue date in rule 19.12). For example, the issue date for a pro rata entitlement issue must comply with the applicable timetable in Appendix 7A. Cross reference: item 33 of Appendix 3B. 8 Number and +class of all +securities quoted on ASX (_including_the +securities in section 2 if applicable)	Nil
	Nil
	N/A
	N/A
	Refer annexure 1
	22 March 2019
	Number	+Class
	359,976,396	Ordinary fully paid shares

9 Number and +class of all +securities not quoted on ASX (_including_the +securities in section 2 if applicable) 10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	Number	+Class
	1,500,000 4,000,000 9,000,000 11,100,000	Options exercisable at $0.08 on or before 6 July 2019 Options exercisable at $0.03 on or before 8 September 2020 Options exercisable at $0.08 on or before 22 December 2020 Options exercisable at $0.15 on or before 22 December 2019
	N/A

Part 2 - Pro rata issue – N/A

11 Is security holder approval required? 12 Is the issue renounceable or nonrenounceable?

13 Ratio in which the[+] securities will be offered

14 +Class of +securities to which the offer relates

15 +Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions

• See chapter 19 for defined terms.

Appendix 3B Page 4

04/03/2013

18	Names of countries in which the
	entity has security holders who
	will not be sent new offer
	documents
	Note: Security holders must be told how their
	entitlements are to be dealt with.
	Cross reference: rule 7.7.
19	Closing date for receipt of
	acceptances or renunciations
20	Names of any underwriters
21	Amount of any underwriting fee
	or commission
22	Names of any brokers to the issue
23	Fee or commission payable to the
	broker to the issue
24	Amount of any handling fee
	payable to brokers who lodge
	acceptances or renunciations on
	behalf of security holders
25	If the issue is contingent on
	security holders’ approval, the
	date of the meeting
26	Date entitlement and acceptance
	form and offer documents will be
	sent to persons entitled
27	If the entity has issued options,
	and the terms entitle option
	holders to participate on exercise,
	the date on which notices will be
	sent to option holders
28	Date rights trading will begin (if
	applicable)
29	Date rights trading will end (if
	applicable)
30	How do security holders sell their
	entitlements_in full_through a
	broker?
31	How do security holders sell_part_
	of their entitlements through a
	broker and accept for the
	balance?

• 32 How do security holders dispose of their entitlements (except by sale through a broker)?

• 33 +Issue date

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of[+] securities ( tick one ) (a) +Securities described in Part 1.

• (b)[All other ][+][securities ]

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[+] securities, and the number and percentage of additional[+] securities held by those holders

36 If the[+] securities are[+] equity securities, a distribution schedule of the additional +securities setting out the number of holders in the categories

1 - 1,000

1,001 - 5,000

5,001 - 10,000 10,001 - 100,000 100,001 and over

37 A copy of any trust deed for the additional[+] securities

Entities that have ticked box 34(b)

• See chapter 19 for defined terms.

Appendix 3B Page 6

04/03/2013

38 Number of+securities for which +quotation is sought 39 +Class of+securities for which quotation is sought 40 Do the+securities rank equally in all respects from the+issue date with an existing+class of quoted +securities? If the additional+securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another+security, clearly identify that other+security) 42 Number and +class of all +securities quoted on ASX (_including_the+securities in clause 38)	n/a
	n/a
	n/a
	n/a
	Number	+Class

Quotation agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted +quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document is not available now, we will give it to ASX before +quotation of the +securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

[lodged electronically without signature]

Sign here: .................................................... Date: 25 March 2019 (Company Secretary)

Print name: Steven Wood

== == == == ==

• See chapter 19 for defined terms.

Appendix 3B Page 8

04/03/2013

Appendix 3B – Annexure 1

Calculation of placement capacity under rule 7.1 and rule 7.1A for eligible entities

Introduced 01/08/12 Amended 04/03/13

Part 1

Rule 7.1 – Issues exceeding 15% of capital

Step 1: Calculate “A”, the base figure from which the placement capacity is calculated

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----- Start of picture text -----

Insert number of fully paid [+] ordinary 354,268,101
securities on issue 12 months before the
+ issue date or date of agreement to issue
Add the following: 23 July 2018 – Barramine Acquisition
Consideration - 985,211 shares (ratified at
• Number of fully paid [+] ordinary
2018 AGM)
securities issued in that 12 month
period under an exception in rule 7.2 3 August 2018 – exercise of options -
1,375,000
• Number of fully paid [+] ordinary
securities issued in that 12 month 9 August 2018 – Long Lake and Panache
period with shareholder approval Option Agreement – 400,000 shares
(ratified at 2018 AGM)
• Number of partly paid [+] ordinary
securities that became fully paid in that
12 month period
Note:
• Include only ordinary securities here –
other classes of equity securities
cannot be added
• Include here (if applicable) the
securities the subject of the Appendix
3B to which this form is annexed
• It may be useful to set out issues of
securities on different dates as
separate line items
Subtract the number of fully paid Nil
+ ordinary securities cancelled during that
12 month period
“A” 357,028,312
----- End of picture text -----

• See chapter 19 for defined terms.

Appendix 3B Page 9

04/03/2013

Step 2: Calculate 15% of “A”

Step 2: Calculate 15% of “A”	Step 2: Calculate 15% of “A”
“B”	0.15 [Note: this value cannot be changed]
Multiply“A” by 0.15	53,554,247
Step 3: Calculate “C”, the amount of placement capacity under rule 7.1 that has already been used
Insertnumber of+equity securities issued or agreed to be issued in that 12 month period_not counting_those issued: • Under an exception in rule 7.2 • Under rule 7.1A • With security holder approval under rule 7.1 or rule 7.4 Note: • This applies to equity securities, unless specifically excluded – not just ordinary securities • Include here (if applicable) the securities the subject of the Appendix 3B to which this form is annexed • It may be useful to set out issues of securities on different dates as separate line items	22 March 2019 - Munarra Gully Allotments - 2,948,084
“C”	0
Step 4: Subtract “C” from [“A” x “B”] to calculate remaining placement capacity under rule 7.1
“A” x 0.15 Note: number must be same as shown in Step 2	53,554,247
Subtract“C” Note: number must be same as shown in Step 3	2,948,084
Total[“A” x 0.15] – “C”	50,606,163 [Note: this is the remaining placement capacity under rule 7.1]

placement capacity under rule 7.1
“A” x 0.15	53,554,247
Note: number must be same as shown in
Step 2
Subtract“C”	2,948,084
Note: number must be same as shown in
Step 3
Total[“A” x 0.15] – “C”	50,606,163
	[Note: this is the remaining placement
	capacity under rule 7.1]

• See chapter 19 for defined terms.

Appendix 3B Page 10

04/03/2013

Part 2

Rule 7.1A – Additional placement capacity for eligible entities

Step 1: Calculate “A”, the base figure from which the placement capacity is calculated

art 2	art 2
Rule 7.1A – Additional placement capacity for eligible entities
Step 1: Calculate “A”, the base figure from which the placement capacity is calculated
“A” Note: number must be same as shown in Step 1 of Part 1	357,028,312
Step 2: Calculate 10% of “A”
“D”	0.10 Note: this value cannot be changed
Multiply“A” by 0.10	35,702,831
Step 3: Calculate “E”, the amount 7.1A that has already been used	of placement capacity under rule
Insertnumber of+equity securities issued or agreed to be issued in that 12 month period under rule 7.1A Notes: • This applies to equity securities – not just ordinary securities • Include here – if applicable – the securities the subject of the Appendix 3B to which this form is annexed • Do not include equity securities issued under rule 7.1 (they must be dealt with in Part 1), or for which specific security holder approval has been obtained • It may be useful to set out issues of securities on different dates as separate line items	Nil
“E”	Nil

• See chapter 19 for defined terms.

Appendix 3B Page 11

04/03/2013

Step 4: Subtract “E” from [“A” x “D”] to calculate remaining placement capacity under rule 7.1A
“A” x 0.10 Note: number must be same as shown in Step 2	35,702,831
Subtract“E” Note: number must be same as shown in Step 3	Nil
Total[“A” x 0.10] – “E”	35,702,831 Note: this is the remaining placement capacity under rule 7.1A

• See chapter 19 for defined terms.

Appendix 3B Page 12

04/03/2013