RUMBLE RESOURCES LIMITED — Capital/Financing Update 2020

Jun 8, 2020

9[th] June 2020

Major Drill Program to Commence at Western Queen High-Grade Gold Project

Drill program update:

• Minimum 12,000 metres of diamond and reverse circulation drilling planned

• Field crew mobilised to site to set up camp and complete drill pads

• Drill contracts awarded – multiple drill rigs scheduled to arrive 15 June

Drilling will focus on:

• Defining high-grade gold shoot targets between the Western Queen Central and Western Queen South Deposits

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

• High-grade gold resource extensions down plunge at Western Queen Central Deposit

• Targeting potential blind high-grade gold shoots between the Western Queen Central Deposit and the Cranes Prospect

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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

Mr Mark Carder Exploration Manager

Image 1 - Western Queen Project – Prospectivity and Plan Highlighting Potential

Managing Director Shane Sikora Said: “Our first two stages of drilling identified six compelling high-grade gold shoot targets, extended the high-grade gold at depth at the Western Queen Central Deposit and of geological importance, identified the high-grade gold is in skarn shoots.

Rumble is excited to embark on the largest drill program in our company’s history. As a result of the new geological understanding and high-grade gold drill results to date, we have high confidence we are now zeroing in on the high-grade gold shoots, and are on the verge of making multiple, significant, high-grade gold discoveries.”

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Rumble Resources Ltd (ASX: RTR) (“Rumble” or “the Company”) is pleased to announce that a major drill programme is set to commence at its Western Queen High-Grade Gold Project, located 110km NW of Mt Magnet within the Yalgoo mineral field of Western Australia.

This multi-rig drill programme will comprise of approximately 12,000m of diamond and reverse circulation (RC) drilling testing a range of high-grade gold targets. RC drilling will focus on multiple high-grade gold shoot targets and the diamond drilling will focus on potential resource extension down-plunge of the Western Queen Central deposit.

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Image 2 - Western Queen Central and South Zones – Potential High-Grade Shoot Targets

Drill Targets

1. Western Queen Central – High-Grade Gold Shoot

• Two stages of previous drilling by Rumble has confirmed the down-plunge continuity and position of the high-grade gold shoot providing confidence of further gold mineralisation at depth which remains open:

  • 6m @ 34.24 g/t Au from 354m (WQRC007D)

  • 6.3m @ 36.09 g/t Au from 305.7m (WQD-1072)

  • 11.8m @ 16.08 g/t Au from 340.4m (WQD-1089)

2. Western Queen Central North – Potential Strike Extension of Shallow High-Grade Gold Mineralisation

• The new “blind” shallow high-grade gold intersected 250m north of the historic Western Queen Central (8m @ 7.22 g/t Au from 49m - WQRC026) is open to the north.

• Potential for repeats of the historic high-grade gold Western Queen Central Shoot to the north. ( historic open pit production – 190,000oz @ 8.9 g/t Au )

3. Western Queen Central North – Potential High-Grade Gold Shoot

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o Immediately north of the Western Queen Central shoot and open cut historic drilling includes:

  - **7m @ 60.6 g/t Au from 70m (WQJC-32)** 

  - **6m @ 37.34 g/t Au from 50m (QNC-10310-1)** 

  - **11m @ 16.8 g/t Au from 51m (WQP-1055)** 

• Partially blind high-grade zones are truncated & transposed by reverse faulting and pegmatite jacking

• Zones are inferred to continue down-plunge as high-grade shoots below the faulting

• Potential repeat of the historic high-grade gold Western Queen Central Shoot

  • ( historic open pit production – 190,000oz @ 8.9 g/t Au )

4. Western Princess - Potential Shallow High-Grade Gold Shoot

• 5m @ 3.64 g/t Au from 52m (WQRC031)

• 3m @ 19.9 g/t Au from 8m (WQRC011) – Rumble Dec 2019

• Drilling has shown the shear zone is wide with multiple structurally controlled shoots - there is high potential to define deeper plunging shoots

5. Western Queen Central Oxide - Potential Shallow High-Grade Gold Shoot

• 2m @ 40.37 g/t Au from 4m (WQY-85) - Historic

• 3m@ 10.42 g/t Au from 1m (WQY-123) - Historic

• 5m @ 5.11 g/t Au (Inc 1m @ 16.9 g/t Au) from 365.5m (WQRC023D) – Rumble - interpretation indicates drilling clipped high-grade shoot at depth

• Potential to define a high-grade shoot below the oxide mineralisation

6. Cranes - Potential Shallow High-Grade Gold Shoot

• 14m @ 4.87 g/t Au from surface (CRAC015) – Rumble Dec 2019

• Potential to define a high-grade shoot below laterite mineralisation

7. 3km of highly prospective strike associated with the fertile Western Queen Shear Zone

• Recent understanding of reverse faults potentially “hiding’ near surface high-grade gold mineralisation north of the Western Queen Central deposit and the confirmation the shear zone extends south of the Western Queen South deposit has highlighted the potential for additional high-grade gold mineralisation over 3km of strike . Previous exploration has been limited to shallow RAB drilling and surface geochemistry.

About Western Queen Gold Project

The Western Queen Gold Project lies 110km NW of Mt Magnet within the Yalgoo mineral field of Western Australia (“the Project”). The Project comprises of two contiguous mining leases (M59/45 and M59/208) for a total area of 9.8 km². The holder is Mt Magnet Gold Pty Ltd, an entity owned by Ramelius Resources (ASX: RMS). Rumble entered into an option agreement to acquire 100% of the Project in August 2019. On 14[th] April 2020 Rumble provided formal notice to Ramelius that it has elected to extend its option at the Western Queen Gold Project to 2 February 2021.

The Project is located within a 110km radius of three operating gold processing mills (see image 3). The closest mill is the Dalgaranga Mill (48km) which has a capacity of 2.5 Mtpa. The Checkers Mill (Mt Magnet) has a capacity of 1.9 Mtpa and the Tuckabianna Mill has a capacity of 1.2 Mtpa. The two mined deposits at the Western Queen Gold Project have a combined historic production of 880,000t @ 7.6 g/t Au for 215,000oz. The Western Queen (Central) Mine produced 660,000t @ 8.9 g/t Au for 189,500oz and the Western Queen South Mine (from two stages) produced 220,000t @ 3.6 g/t Au for 25,500oz.

An updated mineral resource (Payne Geological Services Pty Ltd – Independent) was completed in January 2018. Rumble has reviewed and verified the indicated and inferred resource, and estimates remaining resources beneath both mined deposits of 962,000t @ 3.9 g/t Au for 120,000oz. See previous ASX announcement dated 6[th] August 2019 “Option to Acquire High-Grade Western Queen Gold Project” for further details about the Project, the resource and historical production.

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The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcement and that all material assumptions and technical parameters underpinning the estimates in the previous announcement continue to apply and have not materially changed.

Refer previous announcements 17 February 2020 and 20 May 2020 for exploration results from the first two drill programs.

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Image 3 – Location of Western Queen Project and Local Infrastructure

		**WesternQueen **	Gold Deposit	Gold Deposit
		Mineral Resource Estimate (2.0g/t Au cut-off)
Deposit	IndicatedInferred				**Total **
	Tonnes	AuTonnes	Au	Tonnes	Au	Au
	t	g/tt	g/t	t	g/t	ounces
**WQ South **	243,000	3.5590,000	2.9	832,000	3.1	83,000
**WQ Central **	-	-130,000	9.0	130,000	9.0	38,000
**Total **	243,000	3.5719,000	4.0	962,000	3.9	120,000

Table 1 – Western Queen Project Resource Estimate (table subject to rounding)

Authorisation

This announcement is authorised for release by Shane Sikora, Managing Director of the Company.

-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 mineral exploration 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 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.

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