RUMBLE RESOURCES LIMITED — Capital/Financing Update 2024

Sep 26, 2024

27 September 2024

Rumble welcomes new Strategic Investor

Highlights

• Bain Resources Holdings, a company associated with the large Indian mining contractor, BGR Mining and Infra Limited, to become a strategic shareholder in Rumble
• Bain Resources Holdings has subscribed for 25 million shares in Rumble at 4 cents per share for a total investment of $1 million

Peter Harold, Managing Director and CEO commented "we are privileged to have one of the largest mining contractors in India, through an associate company, become a significant shareholder in Rumble.

BGR Mining & Infra Limited (BGR) have been keen to expand their activities outside of India and we are delighted they have chosen to make a direct investment in Rumble.

BGR are particularly interested in our Western Queen gold project for its near-term cash flow and resource growth potential. Western Queen sits on a mining lease, has existing resources of 163,000ozs averaging 2.4g/t1 and has historical production of 880kt at 7.6g/t for 215,000ozs. BGR are also interested in our Earaheedy zinc-leadsilver project, given the size of the 100% inferred resource, 2.2 million tonnes zinc, 700,000 tonnes lead and 12.6 million ozs silver2 and the potential for it to be a large scale, open pit mining and processing operation in the future.

We look forward to a long and mutually beneficial relationship with BGR.''

Details

Rumble Resources Limited (ASX: RTR) ("Rumble" or the "Company") is delighted to announce that in line with its stated corporate objective to bring strategic investors into the Company, Rumble has entered into a Subscription Agreement with Bain Resources Holdings Ltd (BRH), an associated company of the large Indian contractor, BGR Mining & Infra Limited (BGR).

Under the terms of the Subscription Agreement BRH will subscribe for 25 million shares in Rumble at 4 cents per share for a total investment of $1 million. These new shares will be issued under the Company's existing placement capacity under ASX Listing Rule 7.1 and will rank equally with existing securities on issue. Rumble will seek quotation of the new shares issued to BRH on the ASX. No broker or advisor was involved in this placement.

About BGR Mining and Infra Limited

BGR Mining & Infra Limited is headquartered in Hyderabad, India, and was founded in 1988 as an engineering contractor (see https://www.bgrmining.com). Today, BGR is a major player in the Indian mining industry. It has executed more than 50 projects and currently has an order book of close to US$11 billion.

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 Peter Harold Managing Director & CEO

Mr Peter Venn Technical Director

Mr Matthew Banks Non-executive Director

Mr Michael Smith Non-executive Director

Mr Geoff Jones Non-executive Director

Mr Brett Keillor Head of Technical

Mr Steven Wood Joint Company Secretary

Mr Trevor Hart CFO & Joint Company Secretary

BGR has consolidated its services as one of the leading mining developers and operators (MDO) in India, with a keen focus on local issues, rest and recreational activities and the other inherent challenges in mining projects. BGR integrates design, planning and modern operation technologies for safer and more productive mines.

From open cast coal mining contracts to MDO projects in India and in Mozambique, BGR is committed to serving every region in the world. Having achieved steady growth over the years since its inception, BGR has now set its eyes on the global stage to deliver mission-critical projects in a timely manner.

Authorisation

This announcement is authorised for release by the Board of the Company.

-Ends-

For further information visit rumbleresources.com.au or contact info@rumbleresources.com.au.

Peter Harold	Peter Venn	Trevor Hart
Managing Director & CEO	Technical Director	Chief Financial Officer
Rumble Resources Limited.	Rumble Resources Limited	Rumble Resources Limited
info@rumbleresources.com.au

About Rumble

Rumble Resources Ltd is an Australian based exploration company, listed on the ASX in July 2011. Rumble was established with the aim of adding significant value to its selected mineral exploration assets and to search for suitable mineral acquisition opportunities in Western Australia. Rumble has a unique suite of resources projects including the Western Queen Gold Project which has the potential to have near term cash flow and resource growth through future exploration success. In addition, the discovery of the Earaheedy Zn-Pb-Ag Project in 2021 has demonstrated the capabilities of the exploration team to find world class orebodies.

Competent Person Statement – Previous Results

The information in this announcement that relates to exploration results or estimates of mineral resources at the Western Queen Project and the Earaheedy Project is extracted from the Company's ASX announcements dated 2 August 2021 and 19 April 2023 (Original Announcements). The Company confirms that it is not aware of any new information or data that materially affects the information contained in the Original Announcements and, in the case of estimates of mineral resources, that all material assumptions and technical parameters underpinning the estimates in the Original Announcements continue to apply and have not materially changed.

Prospect	MiningMethod	Cut-off g/t	Classification	Tonnes (t)	Au g/t	ContainedMetal
WQCentral	OC	0.5	Indicated	273,946	1.23	10,833
			Inferred	1,545	1.06	53
			Total	275,491	1.23	10,894
	UG		Indicated	33,032	4.99	5,299
		1.5	Inferred	347,774	3.98	44,499
			Total	380,806	4.06	49,705
			Indicated	306,978	1.63	16,132
	TOTAL		Inferred	349,319	3.97	44,552
			Total	656,297	2.88	60,684
			Indicated	745,150	2.04	48,870
WQ South	OC	0.5	Inferred	254,738	2.32	19,000
			Total	999,888	2.11	67,828
	UG		Indicated	17,090	3.9	2,143
		1.5	Inferred	423,897	2.39	32,571
			Total	440,987	2.45	34,735
	TOTAL		Indicated	762,240	2.08	51,013
			Inferred	678,635	2.36	51,571
			Total	1,440,875	2.21	102,584
WQ MRE			Indicated	1,069,218	1.95	67,145
	O/C and UG		Inferred	1,027,954	2.91	96,123
			Total	2,097,172	2.42	163,268

Table 1: Mineral Resource Estimate Tabulation for the Western Queen Project

Footnote:

The pit optimisation has shown that much of the resource has the potential to be mined economically, and further mining studies are warranted to further progress the project. Mineral Resources that are not Ore Reserves have not demonstrated economic viability at this point. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. Mining Method refers to either open cut (OC) or Underground (UG).