RUMBLE RESOURCES LIMITED — Capital/Financing Update 2022

Jan 19, 2022

Two Key Prospective Tenements Granted at the Earaheedy Zn-Pb-Ag-Cu Project

• Two 100% owned key prospective tenements at the Earaheedy Zn-Pb-Ag-Cu Project, E69/3787 and E69/3862, have recently been granted covering an area of 430km2 , a fourfold increase in granted tenure contiguous to Rumble's 75%/Zenith 25% Joint Venture (E69/3464) tenement, which hosts the large-scale Zn-Pb-Ag-Cu discoveries at the Chinook, Tonka and Navajoh Prospects
• The Earaheedy Project is an emerging World Class Base Metal System and the two newly granted tenements more than double the strike of the highly prospective mineralised Navajoh Unconformity Unit to over 42km's. This includes:
  • o Over 15km's of mineralised strike potential west and northwest between the Rumble discovered Chinook Zn-Pb-Ag-Cu Prospect (mineralised footprint of 4.1km by 1.9km and open in all directions) with only 2 historical drill holes completed within this strike which importantly intercepted Zn-Pb at the Sweetwater Prospect, 12km's to the west along the "Sweetwater Trend"
  • o Over 8km's of mineralised strike potential southeast of the Tonka – Magazine - Navajoh Zn-Pb-Ag Prospect zone (combined mineralised footprint of 6km x 1.2km and open)
• The Company's immediate priority will be extension drilling west and northwest of the Chinook Prospect, with the primary focus on defining the limits of this very large base metal discovery
• Initial reprocessing and interpretation of the recently acquired airborne magnetics data covering the newly granted tenements has identified:
  • o Over the Sweetwater Trend inferred magnetic features, and contrasts that are identical to the features seen at Chinook

o Multiple first order litho-structural targets

• A large surface geochemical survey is planned along the entire Sweetwater Trend which in combination with the airborne magnetics will aid in defining new drill targets

Rumble Resources Ltd

Level 1, 16 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 Peter Venn Non-executive Director

Mr Steven Wood Company Secretary

Rumble Resources Limited (ASX: RTR) ("Rumble" or "the Company") is pleased to announce that two key prospective tenements have been granted within the Earaheedy Zn-Pb-Ag-Cu Project.

Earaheedy Project - Granting of Tenements E69/3787 and E69/3862

The Earaheedy Project is located some 110 km northeast of Wiluna, Western Australia. The project includes granted tenement (E69/3464), which forms the Rumble Resources 75% / Zenith Minerals Ltd (ASX: ZNC) 25% Joint Venture ("JV"). In 2021, Rumble completed a large 50,000m drilling program (approximately 50% of assays are pending) which scoped approximately 19km of prospective mineralised strike within E69/3464 discovering the Chinook Prospect currently defined over an area of 4.1km by 1.9km and the Tonka-Magazine-Navajoh Prospects defined over a combined area of 6km by 1.2km. Both zones remain open in all directions.

The recently granted tenure, E69/3787 and E69/3862, which is 100% controlled by Rumble, extends the prospective untested mineralised strike (Navajoh Unconformity) by more than 100% with some 23km (see images 1 and 2) of additional strike to be tested.

Significantly, the newly granted tenements will allow Rumble to extend drilling west and northwest of the very largescale mineralisation footprint (4.1km by 1.9km and open) at the Chinook Zn-Pb-Ag-Cu Prospect. Drilling by Rumble has defined extensive Zn-Pb-Ag mineralisation along the boundary of the current JV tenement and the recently granted 100% Rumble tenure.

Image 2 – Earaheedy Project – Prospectivity Map

Focus of Initial Exploration within the New Tenements

• The newly granted tenure (E69/3787 and E69/3862) comprises an additional 15km of strike potential of the prospective mineralised unconformity (Navajoh Unconformity Unit) host. This zone of interest, known as the "Sweetwater Trend", incorporates the potentially mineralised west and northwest extensions of the Chinook Prospect and some 12km further west, two historic drill holes – representing the only known historic drilling (see image 2) in the area. Anomalous results from these historic holes include:
  • o 23m @ 0.57% Zn + Pb from 60m to EOH TRC68
  • o 25m @ 0.54% Zn + Pb from 70m TDH31
• Initial reprocessing of airborne magnetic data over the Sweetwater Trend has inferred the magnetic features, and contrasts are identical to the features seen at Chinook
• Ongoing interpretation of the airborne magnetic data has identified multiple first order litho-structural targets
• Rumble is in advanced stages with TMPAC to complete heritage surveys to clear the upcoming planned drilling programs
• Once the heritage surveys are completed the focus of drilling will be to rapidly extend and define the limits of Chinook's large-scale Zn-Pb-Ag-Cu mineralised footprint further to the west
• A large surface geochemical survey is planned along the entire 15kms of the Sweetwater Trend which in combination with the airborne magnetic data should define additional new first order drill targets
• The newly granted tenure comprises over 8kms of potential mineralised strike southeast of the Tonka-Magazine-Navajoh Prospect zone known as the "Navajoh Southeast Trend". This zone has a combined mineralised footprint of over 6km by 1.2km and like Chinook, remains open in all directions (see image 2).

Earaheedy Project – Emerging World Class Base Metal System

Since the Chinook discovery in April 2021, drill scoping has rapidly uncovered an expanding Zn-Pb-Ag-Cu metal budget, and exploration continues to make discoveries and define new large-scale targets.

Rumble has potentially discovered an emerging world class base metal system having only partially tested one geological formation and a very small portion of the Earaheedy Project area. The granting of E69/3862 and E69/3787 represents a fourfold increase in the Earaheedy Project tenure, opening a vast new highly prospective area for new discoveries in all 5 mineralised styles outlined in image 3.

In December 2021, Rumble intersected significant copper mineralisation in a major new feeder fault discovery at the Chinook Prospect, which is a typical metal zonation characteristic of large-scale base metal systems.

Ultimately, the large-scale shallow and flat lying Zn-Pb-Ag-Cu mineralisation that the Company has discovered in the extensive Navajoh Unconformity Unit (represented by Targets 1 & 2 in image 3) at the Chinook, Tonka, Magazine and Navajoh Prospects may represent only the outer metal halo zone of a larger world class base metal system, which may exist in fertile litho-structural positions below the Navajoh Unconformity Unit (targets 4 and 5 in image 3). Targets 4&5 remain untested and will be a focus for the 2022 drilling campaign.

Image 3 – Earaheedy Project - Model of Multiple Mineralisation Styles and targets at Earaheedy

First Stage Exploration Target

Rumble's Zn-Pb exploration target at the Earaheedy Project is between 100 to 120 million tonnes at a grade ranging between 3.5% Zn-Pb to 4.5% Zn-Pb Sulphide. The exploration target is at a shallow depth (120m), and over 40kms of prospective strike (completely open) has been defined within the Earaheedy Project. The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The exploration target, being conceptual in nature, takes no account of geological complexity, possible mining method or metallurgical recovery factors. The exploration target has been estimated in order to provide an assessment of the potential for large-scale Zn-Pb deposits within the Earaheedy Project. The exploration target has been prepared and reported in accordance with the 2012 edition of the JORC Code.

Earaheedy Zn-Pb Project –Exploration Target
Range	Tonnes	Grade
Lower	100,000,000	3.5% Zn + Pb Sulphide
Upper	120,000,000	4.5% Zn + Pb Sulphide

Table 1: Near surface exploration target down to 120 metre - shallow depth

The potential quantity and grade of the exploration target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The exploration target is based on the current geological understanding of the mineralisation geometry, continuity of mineralisation and regional geology. This understanding is provided by an extensive drill hole database, regional mapping, coupled with understanding of the host stratigraphic sequence.

Included in the data on which this exploration target has been prepared from some 50,000m of drilling completed by Rumble. Historic drilling includes sixty-four (64) holes completed within the project area (E69/3464) by previous explorers (refer historical exploration results in previous ASX announcements dated 5 February 2019 and 12 October 2017, 23rd January 2020 which continue to apply and have not materially changed). Some of the considerations in respect of the estimation of the exploration target include:

• Drilling results have demonstrated strong continuity of shallow, flat lying sulphide mineralisation;
• Over 45km's of prospective strike and open (refer image 1);
• Minimum 600m of width based on shallow 7.5° and shallow depth to 120m, based on drilling results;
• True width (thickness) of mineralisation up to 34 metres received in drilling results; and
• Specific gravity (SG) of 2.5 (world average SG of sandstone not accounting for metal).

The Company intends to test the exploration target with drilling and this further drilling is expected to extend over approximately 12 months. Grade ranges have been either estimated or assigned from lower and upper grades of mineralisation received in drilling results. A classification is not applicable for an exploration target.

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.

Previous Drill Results

Drill hole results are ongoing and previous assays have been reported in earlier ASX announcements.

• ASX Release 23/8/2019 14 High Priority Targets and New Mineralisation Style
• ASX Release 23/1/2020 Large Scale Zn-Pb-Ag Discoveries at Earaheedy
• ASX Release 19/4/2021 Major Zinc-Lead Discovery at Earaheedy Project, Western Australia
• ASX Release 2/6/2021 Large Scale Zinc-Lead-Silver SEDEX Style System Emerging at Earaheedy
• ASX Release 8/7/2021 Broad Spaced Scout Drilling Has Significantly Increased the Zn-Pb-Ag-Mn footprint at Earaheedy
• ASX Release 23/8/2021 Earaheedy Zn-Pb-Ag-Mn Project Exploration Update
• ASX Release 13/12/2021 New Zinc-Lead-Silver Discovery at Earaheedy Project

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 and Exploration Targets is based on and fairly represents 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.

Previously Reported Information

The information in this report that references previously reported exploration results is extracted from the Company's ASX market announcements released on the date noted in the body of the text where that reference appears. The previous market announcements are available to view on the Company's website or on the ASX website (www. asx.com.au). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.

Disclaimer

This report contains certain forward-looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of Rumble Resources Ltd, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Rumble Resources Ltd. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors. Nothing in this report should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. This document has been prepared in accordance with the requirements of Australian securities laws, which may differ from the requirements of United States and other country securities laws. Unless otherwise indicated, all ore reserve and mineral resource estimates included or incorporated by reference in this document have been, and will be, prepared in accordance with the JORC classification system of the Australasian Institute of Mining, and Metallurgy and Australian Institute of Geoscientists.

Hole ID	E MGA	N MGA	Depth	Dip	Azi	Depth From	Thickness (m)	Zn%	Pb%	Pb+Zn% >1000ppm Cut Off
TRC68	239513	7165591	83	-90	0	60m to EOH	23	0.25	0.32	0.57
TDH31	239670	7165749	146	-70	210	70	25	0.31	0.23	0.54

Table 2
Historic Drill Hole Location and Intersections – Sweetwater Trend

Criteria	JORC Code explanation	Commentary
Samplingtechniques	•Nature and quality of sampling (e.g. cut channels,random chips, or specific specialised industry standardmeasurement tools appropriate to the minerals underinvestigation, such as down hole gamma sondes, orhandheld XRF instruments, etc.). These examplesshould not be taken as limiting the broad meaning ofsampling.•Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement tools or systems used.•Aspects of the determination of mineralisation that areMaterial to the Public Report.•In cases where 'industry standard' work has been donethis would be relatively simple (e.g. 'reverse circulationdrilling was used to obtain 1 m samples from which 3kg was pulverised to produce a 30 g charge for fireassay'). In other cases more explanation may berequired, such as where there is coarse gold that hasinherent sampling problems. Unusual commodities ormineralisation types (e.g. submarine nodules) maywarrant disclosure of detailed information.	•No recent drilling completed•Historic drilling – mineralised sectionreporting >1000ppm Zn + Pb
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 standard tube,depth of diamond tails, face-sampling bit or other type,whether core is oriented and if so, by what method,etc.)	•Historic RC and DD Drilling 2 holesonly
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 sample recoveryand grade and whether sample bias may haveoccurred due to preferential loss/gain of fine/coarsematerial.	•Not known
Logging	•Whether core and chip samples have been geologicallyand geotechnically logged to a level of detail to supportappropriate Mineral Resource estimation, miningstudies and metallurgical studies.•Whether logging is qualitative or quantitative in nature.Core (or costean, channel, etc.) photography.•The total length and percentage of the relevantintersections logged.	•Not known
Subsamplingtechniquesand samplepreparation	•If core, whether cut or sawn and whether quarter, halfor all core taken.•If non-core, whether riffled, tube sampled, rotary split,etc. and whether sampled wet or dry.•For all sample types, the nature, quality andappropriateness of the sample preparation technique.•Quality control procedures adopted for all sub-samplingstages to maximise representivity of samples.•Measures taken to ensure that the sampling isrepresentative of the in situ material collected,including for instance results for field duplicate/secondhalf sampling.•Whether sample sizes are appropriate to the grainsize of the material being sampled.	oNot known
Qualityofassaydataand	•The nature, quality and appropriateness of theassaying and laboratory procedures used and whetherthe technique is considered partial or total.	•Not known

Criteria	JORC Code explanation		Commentary
laboratory•tests•	For geophysical tools, spectrometers, handheld XRFinstruments, etc., the parameters used in determiningthe analysis including instrument make and model,reading times, calibrations factors applied and theirderivation, 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 been established.
Verification•of samplingand•assaying••	The verification of significant intersections by eitherindependent or alternative company personnel.The use of twinned holes.Documentation of primary data, data entry procedures,data verification, data storage (physical and electronic)protocols.Discuss any adjustment to assay data.	•	Not known
Locationof•data points••	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mineworkings and other locations used in Mineral Resourceestimation.Specification of the grid system used.Quality and adequacy of topographic control.	•	Initial survey unknown. DH collarsdelineatedfromdetailedWWV3satelliteimageryandreportedinMGA94
Data•spacing and•distribution•	Data spacing for reporting of Exploration Results.Whether the data spacing and distribution is sufficientto establish the degree of geological and gradecontinuity appropriate for the Mineral Resource andOre Reserve estimation procedure(s) andclassifications applied.Whether sample compositing has been applied.	•	Not applicable
Orientation•ofdatainrelationtogeological•structure	Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to whichthis is known, considering the deposit 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 known
Sample•security	The measures taken to ensure sample security.	•	Not Known
Auditsor•reviews	The results of any audits or reviews of samplingtechniques and data.	•	Not known

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineraltenementandlandtenurestatus	•Type, reference name/number, location andownership including agreements or material issueswith third parties such as joint ventures,partnerships, overriding royalties, native titleinterests, historical sites, wilderness or national parkand environmental settings.•The security of the tenure held at the time ofreporting along with any known impediments toobtaining a licence to operate in the area.	•The Earaheedy Project comprises ofE69/3464 (75% Rumble and 25%Zenith Minerals – JV) and tworecently granted exploration licensesE69/3787 and E69/3862 (100%Rumble)E69/3464 is in a state of good•standing and has no knownimpediments to operate in the area.
Explorationdone by otherparties	•Acknowledgment and appraisal of exploration byother parties.	•Exploration solely completed byRumble Resources
Geology	•Deposit type, geological setting and style of mineralisation.	•The Earaheedy Project Deposit typeis unconformity related sandstonehosted Zn-Pb type. Also MVT(Mississippi Valley Type) to SEDEXstyle associated with carbonates hasbeen identified. Current work byRumble has identified unconformityrelated sandstone hosted Zn Pbtype.
DrillholeInformation	•A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for all Materialdrill holes:oeasting and northing of the drill hole collaroelevation or RL (Reduced Level – elevationabove sea level 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 thebasis that the information is not Material and thisexclusion does not detract from the understanding ofthe report, the Competent Person should clearlyexplain why this is the case.	•Table 1 – Near surface explorationtarget down to 120 metre - shallowdepth•Table 2 – Historic Prospect Drill HoleLocations and Assay Results –Sweetwater area
Dataaggregationmethods	•In reporting Exploration Results, weightingaveraging techniques, maximum and/orminimum grade truncations (e.g. cutting of highgrades) and cut-off grades are usually Materialand should be stated.•Where aggregate intercepts incorporate shortlengths of high-grade results and longer lengthsof low-grade results, the procedure used forsuch aggregation should be stated and sometypical examples of such aggregations shouldbe shown in detail.•The assumptions used for any reporting ofmetal equivalent values should be clearlystated.	•Historic drilling cut-off grades usedinclude:o>0.1% Zn =Pb
Relationshipbetweenmineralisationwidthsandinterceptlengths	•These relationships are particularly important inthe reporting of Exploration Results.•If the geometry of the mineralisation withrespect to the drill hole angle is known, itsnature should be reported.•If it is not known and only the down hole lengthsare reported, there should be a clear statementto this effect (e.g. 'down hole length, true width	•Drilling is vertical. Mineralisation isflat. Width of mineralisation is truewidth.

Criteria	JORC Code explanation	Commentary
	not known').
Diagrams	•Appropriate maps and sections (with scales)and tabulations of intercepts should be includedfor any significant discovery being reportedThese should include, but not be limited to aplan view of drill hole collar locations andappropriate sectional views.	•Image 1 –Earaheedy Project –Geology and Prospect Location Plan•Image 2 -Earaheedy Project –Prospectivity Plan•Image 3 - Earaheedy Project - Modelof Mineralisation Styles atEaraheedy
Balancedreporting	•Where comprehensive reporting of allExploration Results is not practicable,representative reporting of both low and highgrades and/or widths should be practiced toavoid misleading reporting of ExplorationResults.	•Tables 2 represents historic drill holelocations.
Othersubstantiveexplorationdata	•Other exploration data, if meaningful andmaterial, should be reported including (but notlimited to): geological observations; geophysicalsurvey results; geochemical survey results; bulksamples – size and method of treatment;metallurgical test results; bulk density,groundwater, geotechnical and rockcharacteristics; potential deleterious orcontaminating substances.
Further work	•The nature and scale of planned further work(e.g. tests for lateral extensions or depthextensions or large-scale step-out drilling).•Diagrams clearly highlighting the areas ofpossible extensions, including the maingeological interpretations and future drillingareas, provided this information is notcommercially sensitive.	•Diamond core drilling commenced•RC drilling – Definition drilling ofChinook, Tonka and Navajoh•RC drilling – reconnaissance –scoping work