RUMBLE RESOURCES LIMITED — Capital/Financing Update 2021

May 24, 2021

25[th] May 2021

Major Drill Program Commenced at Earaheedy Zinc-Lead Discovery

Phase 2 Drill Program

• Minimum 30,000 metres of diamond and reverse circulation drilling has commenced

• Drill contracts awarded – 1 Diamond and 3 RC Rigs

Drilling will focus on the Chinook Major Zinc-Lead Discovery

• Diamond – RC drill hole reconciliation, preliminary metallurgy and geological appraisal

• RC – scoping mineralisation over a strike >12 km

Geophysics

• Gravity program commenced at the Chinook Prospect to refine target generation

Phase 1 Drill Program Results

• Assays for the remaining RC drill holes (including multi-element assaying) anticipated shortly

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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

Mr Mark Carder Exploration Manager

Image 1 – Diamond Drill Rig operating at Earaheedy Project

Rumble Resources Ltd (ASX: RTR) (“Rumble” or “the Company”) is pleased to announce that a major drill program has commenced at the Earaheedy Zinc-Lead Project, located approximately 110km north of Wiluna, Western Australia.

This multi-rig drill program will follow up the recent Major Zinc-Lead discovery at the Chinook prospect (see ASX announcement 19 April 2021) compromising of 30,000m of diamond and reverse circulation (RC) drilling aiming to understand the style of mineralisation, scope out the discovery, and make further, new discoveries.

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Phase 2 - 30,000 Diamond and RC Drill Program - Commenced

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Following on from the recent $40million capital raising Rumble is now fully funded to expedite the scoping out of the major Zinc-Lead discovery at the Chinook Prospect, and other regional prospects.

Chinook Prospect – Major Zinc-Lead Discovery

• Diamond drilling – A 3,000m drill program will include twinning RC drill holes to provide metallurgical samples for test-work, RC drill-hole reconciliation and a greater geological understanding of the system – diamond drill rig is onsite and has commenced drilling.

• RC drilling – a 27,000m drill program will commence shortly with drill contracts being awarded. One RC rig is being mobilised to site this week with the second and third RC rigs anticipated to mobilise over the coming weeks (subject to over runs from prior jobs). The RC drilling is designed to scope out the mineralisation along strike.

Regional Prospects (including Magazine)

• The Company will commence a regional-scale RC drill program over the coming months along the highly prospective >12km’s of strike in granted E69/3464 looking for new discoveries throughout the Earaheedy Project, given the style of mineralisation lends itself to multiple large tonnage deposits.

• The 30kms of prospective strike in the adjacent and contiguous E69/3787 is still in application. Rumble is working through the process for grant which is anticipated to take 6 months and will be progressed in parallel to activities at E69/3464.

Geophysics Program – Gravity Commenced

• Rumble has commenced a gravity program over the Chinook Prospect to aid in enhancing drill target generation which will tie in with the passive seismic and airborne magnetics already completed.

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Image 2 – Chinook Prospect – Location Plan with Drill Hole Status and Intersections

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Phase 1 - RC Drilling Program – Completed Assays Pending

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On 19 April 2021 Rumble announced a major Zinc-Lead discovery at the Chinook Prospect after fast tracking 2 holes for assay that confirmed a major discovery. All other remaining assays (including multi-element) are pending.

• Chinook Prospect – twenty-six (26) holes for 2653m. Two RC holes discovery (EHRC050 and EHRC044) were fast tracked for assay and released. Twenty-four (24) holes have assays pending.

• Magazine Prospect – seven (7) holes for 940m. All assays pending

Assays are anticipated shortly. Once all assays are received and analysed, Rumble will release a comprehensive announcement of the results and the next steps, which include this drill program.

About Earaheedy Project

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Image 3 – Earaheedy Project With Regional Geology and Prospect Locations

The Earaheedy Project is located approximately 110km north of Wiluna, Western Australia. Rumble owns 75% of E69/3464 and Zenith Minerals Ltd (ASX: ZNC) owns 25%. Rumble has a single contiguous exploration license application ELA69/3787 (100% RTR) covering the known strike extent. The project area covers the inferred unconformity contact between the overlying Frere Iron Formation and underlying Yelma Formation of the Palaeoproterozoic Earaheedy Basin.

RC and diamond core drilling by Rumble has defined two areas of significant Zn-Pb mineralisation with anomalous Ag (see image 3). Within EL69/3464, Chinook and Magazine lie 12km apart. Within the project area, Rumble controls 45km of prospective strike which has the potential for multiple large tonnage Zn – Pb deposits.

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 info@rumbleresources.com.au.

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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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