RUMBLE RESOURCES LIMITED — Capital/Financing Update 2024

May 9, 2024

10th May 2024

Up to ~$4.0m Capital Raising to Advance Earaheedy, Western Queen and Wardawarra Projects

Highlights

• Firm commitments received for approximately $1.1m via an institutional placement ("Placement"), with support from current and new institutional and sophisticated investors
• A pro rata non-renounceable rights issue of 1 fully paid ordinary share for every 10 shares held by eligible shareholders to raise up to approximately $2.9 million ("Entitlement Offer")
• Company funded to advance:
  • o Metallurgical studies Earaheedy Project
  • o Drilling Western Queen Project
  • o Mapping, geochemical sampling and drilling Wardawarra Project

Rumble Resources Ltd (ASX: RTR) ("Rumble" or the "Company") is pleased to announce an up to approximately $4.0m capital raising comprising an approximately $1.1m placement and up to approximately $2.9m Entitlement Offer.

**Managing Director and CEO, Peter Harold commented "**It was pleasing to see support for the Placement which demonstrates the interest in our unique asset base including the potentially world class Earaheedy Zn-Pb-Ag project, the Western Queen gold project, the Wardawarra lithium project and our other earlier stage gold, copper and base metal exploration projects in Western Australia.

The Placement funds together with the funds from the Entitlement Offer will enable us to advance these projects and add value for shareholders. I would like to thank all those who participated in the Placement for their support and trust that existing shareholders will take up their full entitlement to ensure Rumble is well funded to deliver on its stated goals."

Capital Raising

The capital raising consists of a Placement to raise approximately $1.1 million and a 1 for 10 Entitlement Offer to existing eligible security holders in Australia and New Zealand to raise up to approximately $2.9 million (the Placement and Entitlement Offer are together referred to as the "Capital Raising"). The offer price per new security to be issued under the Placement and the Entitlement Offer is $0.04 ("Offer Price").

Shares issued under the Placement and Entitlement Offer ("New Shares") will rank equally with existing securities on issue. Rumble will seek quotation of the New Shares issued under the Placement and the Entitlement Offer on the ASX.

Wilsons Corporate Finance Limited was the Lead Manager to the Capital Raising.

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 Matthew Banks Non-executive Director

Mr Michael Smith Non-executive Director

Mr Geoff Jones Non-executive Director

Mr Peter Venn Technical Director

Mr Brett Keillor Technical Consultant

Mr Trevor Hart Chief Financial Officer & Joint Company Secretary

Placement

The Placement will comprise an institutional placement to raise approximately $1.1 million via the issue of approximately 27.5 million New Shares under the Company's existing placement capacity under ASX Listing Rule 7.1. The Placement is not underwritten.

New Shares issued under the Placement will be issued at the same price as New Shares issued under the Entitlement Offer.

New Shares issued under the Placement will be cum-entitlement and will be eligible to participate in the Entitlement Offer.

Entitlement Offer

Following completion of the Placement, Rumble will offer eligible Australian and New Zealand shareholders the opportunity to acquire New Shares via a non-underwritten 1 for 10 pro rata non-renounceable entitlement offer to raise up to approximately $2.9 million ("Entitlement Offer").

The Offer price under the Entitlement Offer will be $0.04, being the same price as the Placement. Eligible Shareholders will be able to apply for shortfall shares under the Entitlement Offer.

New Shares issued under the Placement will be cum-entitlement and will be eligible to participate in the Entitlement Offer.

It is proposed that Director, Peter Venn, will partially underwrite $36,000 (900,000 New Shares) of the Entitlement Offer, subject to entering into a binding underwriting agreement with the Company prior to the opening date of the Entitlement Offer. Should a binding agreement be entered into, the Company will update the market with the material terms of the underwriting, as required under Exception 2 to ASX Listing Rule 10.12.

Further information in relation to the Entitlement Offer, including the Entitlement Offer terms and conditions, will be set out in the Entitlement Offer booklet ("Entitlement Offer Booklet"). Existing security holders wishing to participate in the Entitlement Offer should carefully read the Entitlement Offer Booklet (and accompanying application form) which is expected to be lodged with the ASX and dispatched on Friday, 24 May 2024. A copy of the Entitlement Offer Booklet will also be available on the ASX website.

Entitlement Offer application forms and payments need to be received by Rumble's share registry by no later than 5pm (AEST) on Friday, 7 June 2024.

Indicative timetable1

Key event	Date
Settlement of New Shares issued under the Placement	Wednesday, 15 May 2024
Allotment of trading of New Shares under the Placement	Thursday, 16 May 2024
Entitlement Offer Record Date (7pm AEST)	Tuesday, 21 May 2024
Entitlement Offer opens and Offer Booklet dispatched	Friday, 24 May 2024
Entitlement Offer closes (5pm AEST)	Friday, 7 June 2024
Announcement of results of Entitlement Offer	Thursday, 13 June 2024
Normal trading of New Shares under the Entitlement Offer	Tuesday, 18 June 2024

1 The above timetable is indicative only. The Company may vary any of the above dates without notice, subject to the Corporations Act, the ASX Listing Rules and other applicable law. Any change in the timetable does not affect the rights or obligations an investor or securityholder has as a result of accepting an allocation in the Capital Raising.

Authorisation

This announcement is authorised for release by Peter Harold, Managing Director and CEO of the Company.

-Ends-

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

About Rumble Resources Ltd

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 both in Australia and abroad. The discovery of the Earaheedy Zn-Pb-Ag Project in Western Australia has demonstrated the capabilities of the team to find world class orebodies.

Forward Looking Statements

This announcement may contain forward-looking information, including forward looking information within the meaning of Canadian securities legislation and forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, forward- looking statements). These forward-looking statements are made as of the date of this report and Rumble Resources Limited (the Company) does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements relate to future events or future performance and reflect Company management's expectations or beliefs regarding future events and include, but are not limited to: the impact of the discovery on the Earaheedy Project's capital payback; the Company's strategy; the estimated timing of drilling at the Earaheedy Project; the Company's intended activities at the Earaheedy Project; and the success of future mining operations.

In certain cases, forward-looking statements can be identified by the use of words such as, "affords", "anticipates", "believe", "considered", "continue", "could", "establishes", "estimate", "expected", "future", "interpreted", "likely", "looking", "may", "open", "plan" or "planned", "potential", "robust", "targets", "will" or variations of such words and phrases or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved or the negative of these terms or comparable terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Such factors may include, among others, risks related to actual results of current or planned exploration activities; whether geophysical and geochemical anomalies are related to economic mineralisation or some other feature; obtaining appropriate access to undertake additional ground disturbing exploration work at the Earaheedy Project; the results from testing various anomalies; results of metallurgical test work Including results from other zones not tested yet, scaling up to commercial operations; changes in project parameters as plans continue to be refined; changes in exploration programs and budgets based upon the results of exploration, changes in commodity prices; economic conditions; grade or recovery rates; political and social risks, accidents, labour disputes and other risks of the mining industry; delays or difficulty in obtaining governmental approvals, necessary licences, permits or financing to undertake future mining development activities; changes to the regulatory framework within which Rumble operates or may in the future; movements in the share price of investments and the timing and proceeds realised on future disposals of investments, pandemic and other force majeure events, as well as those factors detailed from time to time in the Company's interim and annual financial statements, all of which are filed and available for review at asx.com.au and the Company's website.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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.