RUMBLE RESOURCES LIMITED — Interim / Quarterly Report 2017

Oct 30, 2017

31 October 2017 September 2017 Quarterly Activities Report

Rumble Resources Ltd (ASX: RTR) ("Rumble" or "the Company") is pleased to provide an update in respect to the Company's activities during the September 2017 quarter.

Highlights

Braeside High Grade Zn – Pb – Cu – Ag - Au – V Project, Western Australia

Stage 1 - Regional soil geochemistry program - E45/2032

• Significant Zinc, Lead and Copper mineralised trends up to 4km's long identified throughout the 30km of strike, coincident with key geological structures and historic high-grade base metal rock chip sampling.

Stage 2 – VTEM survey - E45/2032

• The VTEM survey has defined multiple conductors that are importantly associated with the identified regional base metal trends, historic high-grade base metal rock chip sampling and key geological structures that represent first order VMS Targets.

Stage 3 – Infill Soils and Rock Chip Sampling

• Mineralisation (rock chip) returned very high grades:
  • o Lead to 49.22% (25% of grab samples collected > 5% Pb)
    • o e.g. BR111 - 42.76% Pb, 72 g/t Ag, 1.45 g/t Au
  • o Zinc to 29.31% (Gossan)
  • o Copper to 17.4%
    • o e.g. BR155 - 14.55% Cu, 17.29% Zn, 1.37% Pb
  • o Silver to 239 g/t
  • o Gold to 1.45 g/t
  • o Vanadium to 1.03%

Stage 4 Ground TEM Survey - E45/2032

• Ground TEM surveys has commenced over the identified VTEM conductors and high-grade base metal mineralisation targets generated in Stage 3.

Stage 5 Drilling - E45/2032

• Drill test conductive plates and high-grade base metal mineralisation which represent first order VMS targets to commence mid-November.

Pebble conglomerates identified within the Braeside Project

• Desktop review of the Braeside Project has identified 30km's of strike of pebble conglomerates of the Lower Fortescue Group (Hardey Formation) which is highly prospective for conglomerate hosted gold.

Barramine High Grade Cu- Pb-Zn- Ag Project, Western Australia

• Option to acquire up to 70% of High-grade Cu, Pb, Zn and Ag project not tested by drilling or modern exploration for base metals.
• Historic rock chip and channel samples collected confirms the high-grade nature of the project with assays up to 25.32% copper, 279 g/t silver, 6% lead and 1.8% zinc.

Earaheedy High Grade Zn Project, Western Australia

• Option to acquire up to 75% of High-grade Zn with historical drilling intercepted highgrade zinc up to 18.6% within an intersection 3.3m @ 11.2% Zn, and 0.93% Pb from 150m. Other drill-holes include 2m @ 8.23% Zn and 2.77% Pb from 103m. (agreement executed subsequent to the end of the Quarter)

Fraser Range Ni- Cu Projects, Western Australia

• Joint Venture Agreement signed with leading base metal and gold miner Independence Group NL (ASX: IGO) on Rumble's highly prospective Fraser Range Projects in Western Australia.

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

Rumble's activities during the September 2017 quarter were focussed on the first modern systematic exploration program being undertaken at the Braeside High Grade Zinc – Lead Project ("the Project"), located 140km east of Marble Bar (East Pilbara region of Western Australia) and acquiring high grade quality assets that compliment Rumble's current project portfolio.

Braeside High Grade Zn – Pb – Cu – Ag - Au – V Project, Western Australia – E45-2032

Image 1: Braeside Regional Project Locatio, Regional Geology and location of Tenements Includes location of Pebble Conglomerates within Braeside Project and Barramine Project

The Braeside Project E45-2032 consists of multiple high-grade zinc, lead, copper and silver mines and occurrences associated with north to northwest trending fault fracture zones within mafic volcanics and volcaniclastics over a strike of at least 60 km. The poly-metallic mineralisation has not been tested by detailed geophysics, geochemistry and very limited drilling with only 10 known historic drill holes in 1928 and 1951.

High grade grab sampling assays have returned up to 29.31% Zn, 79% Pb, 17.48% Cu, 325 g/t Ag,13 g/t Au and V 1.03% along 30km of strike within a potential 60km strike system.

Rumble's exploration program is the first modern systematic exploration program being undertaken at the Braeside High Grade Zinc – Lead Project.

Recent litho-geochemistry completed by Rumble suggests the mineralisation is associated with sub volcanic rhyolitic porphyry (Koongaling Felsic Volcanics) indicating potential for a VMS system capable of hosting a large base metal deposit.

Rumble's technical team lead by Technical Director Mr Brett Keillor is systematically exploring the Braeside Project generating first order VMS feeder pipe targets using proven, modern exploration techniques.

Rumble is fully funded to complete all stages of exploration including the stage 5 drill testing.

Stage	Exploration Activity	Progress
Stage 1	Regional soil geochemistry (multi-element) to coverBraeside Project Area	100% Completed
Stage 2	Fly Airborne VTEM	100% Completed
Stage 3	Infillgeochemistryovermetaltrendsandconductors generated by VTEM in Stage 2 to helprank key drill targets	100 % Completed
Stage 4	Ground TEM surveys over the identified VTEMconductorsandhigh-gradebasemetalmineralisation	Commenced
Stage 5	Drill test conductive plates and high-grade basemetal mineralisation	Rumblehasscheduledwiththedrillingcontractor to commence the stage 5 drill testingof the first order VMS targets by mid November2017.

Stage 1 - Regional soil geochemistry (multi-element) - E45/2032

Rumble completed the first ever regional soil geochemistry program completed at the Braeside Project which covered the entire E45/2032 license and was primarily designed to delineate base metal and gold geochemical trends. Refer ASX announcement 4 September 2017 for further details of the program.

In total, 1229 samples were collected on a staggered 400m by 400m grid over the entire area of granted EL45/2032. The samples were analysed utilising a 33 element suite (aqua regia digest with MS finish).

The soil sampling program was incredibly successful with significant zinc (>100ppm) and lead (>100ppm) trends up to 4km's long identified throughout project which importantly are coincident with key geological structures and historic high grade base metal rock chips.

Historically mineralised trends with high grade rock chips samples located within key geological structures have proven to be key path finders in discovering major base metal deposits.

Image 2 - Zinc Geochemistry over Structures Image 3 - Lead Geochemistry over Structures

Image 4 - Copper Geochemistry over Structures Image 5 - Gold Geochemistry over Structures

Stage 2 – Airborne VTEM - E45/2032

Rumble completed the first ever helicopter-borne Versatile Time Domain Electromagnetic ("VTEM") geophysical survey at the Company's Braeside Project – E45/2032. VTEM is one of the world's highest resolution and signal-to-noise ratio airborne electromagnetic systems and is a proven exploration tool in discovering large scale base metal deposits. The survey was completed by Geotech Ltd.

The VTEM survey consisted of 450 line kilometres at flight line spacings (perpendicular to stratigraphy) of 400 metres.

Historic airborne Tempest AEM has provided confidence that there are no, or very minor, lithological conductors such as graphitic shales along the known base metal mineralised system at the Project.

The VTEM program was extremely successful with preliminary VTEM processing (using Maxwell software) defining a multitude of early and late time conductors. Significantly the conductors strongly correlate the known structural directions, coincide with the extensive zinc, lead and copper geochemical trends and historic high grade base metal rock chip sampling.

Based on the earlier litho-geochemistry work competed by Rumble which identified the VMS potential of the project, the newly defined conductors represent first order VMS Targets. Please refer ASX announcement dated 4 September 2017 for further details in respect of the VTEM results.

Stage 3 – Infill Soils and Rock Chip Sampling - E45/2032

Please refer ASX announcement dated 16 October 2017 for further detail in respect of the below exploration results being reported.

Soil Geochemistry

Follow up infill soil and grab sampling conducted over regional soil geochemistry base metal anomalism and recently flown VTEM survey (late and early time conductors) has delineated numerous high-grade zinc (Zn), lead (Pb) and copper (Cu) targets with significant silver (Ag), gold (Au) and vanadium (V) mineralization.

A total of 1662 soil samples were collected covering the entire area of EL45/2032 on a 400m by 400m staggered pattern and infill sampling completed on 200m by 200m and 200m by 100m patterns (stages 1 and 3). The assaying involved a 33 element suite, (aqua regia digest with MS finish) including Au.

The first pass (400m pattern) and follow up infill soil sampling delineated numerous high order anomalies. Many anomalies coincided with known mineralized trends, however, more significantly, new base metal anomalies were defined with some coinciding with VTEM conductors.

Soil sampling defined:

• Twenty three (23) zinc anomalies (>300 ppm Zn) Peak value of 1500 ppm Zn.
• Twenty six (26) lead anomalies (>300 ppm Pb) Peak value of 3310 ppm Pb.
• Fifteen (15) copper anomalies (>150 ppm Cu) Peak value of 199 ppm Cu
• Eight (8) gold anomalies (>10 ppb Au) Peak value of 22 ppb Au

Grab Sampling

Grab sampling involved collecting 151 rock chip samples from:

• High order Zn, Pb and Cu in soil anomalism.
• Known mineralized trends, including prospects.
• Selected VTEM conductors.
• General reconnaissance as part of the soil sampling program.

Analysis (33 element) was by a four-acid digest with an OES finish. Au analysis was by fire assay. In zones of recognized mineralization, wall rock grab sampling was completed. Results include:

• Lead up to 49.22%. 37 samples returned > 5% Pb (approximately 25% of total samples collected).
• Zinc up to 29.31% in an identified gossan
• Copper up to 17.48%.
• Silver up to 239 g/t.
• Gold up to 1.45 g/t
• Vanadium up to 1.03%

Important: Grab sampling was restricted to approximately half of the high order base metal in soil anomalies, conductors and known prospects currently defined by Rumble. Also, the grab sampling completed (this report) was designed to test perceived visual mineralization and the widespread alteration to ascertain the level of base metal dissemination. Only limited sampling was taken at each location. Rumble has put in place plans to access these targets in the new year providing further high order targets in 2018.

Image 8 – Ragged Hills East Prospect – High Grade 29.31% Zinc Gossan

Prospect and Exploration Highlights Summary

Ragged Hill Mine Area (see Image 1 for location)

Image 9 - Ragged Hills Mine Area – Soil Sampling Contours (Zn), Grab Sampling Results, VTEM Conductor Trends and Mineralised Structures.

• High grade Pb, Cu and Zn mineralisation north along strike from Ragged Hill Pb Zn Mine.
  • o Grab sampling returned the following assays:
    • Pb – 42.82% and 30.71%.
    • Cu – 15.14% and 14.55%.
    • Zn – 17.29%
  • o Mineralisation within wide (30m) silica-sericite alteration zone.
    • K Ba Alteration (Potassic Barium).
    • Strong Zn Pb sulphide mineralisation in wall rock/alteration zone.
      • Grab sampling by Rumble (March 2017) of wall rock returned.
        • o Pb values of 11.94%, 4.75%, 4.96% and 3.44%
        • o Zn values of 0.75%, 0.52% and 0.51%
• VTEM conductor located along strike and south of the Ragged Hills Pb Zn Mine.
  • o Strong soil (Zn and Pb) anomalism coinciding with conductor trend.
  • o Mineralised structure (hosting known mineralization) coincides with conductor trend.
  • o No systematic grab sampling or drilling north and south of Ragged Hill Mine.

Ragged Hills East Area (see Image 1 for location)

Image 10 – Ragged Hills East Area – Soil Sampling Contours (Pb), Grab Sampling Results, VTEM Conductor Trends and Mineralised Structures

• Cassius Clay Prospect

• o Significant high grade Pb and Cu grab sample results.
  • Pb assays include 31.51%, 44.28% and 31.51% and 19.92%
  • Cu assays include 17.48%
• o Wide silica sericite alteration zone (20 to 30m)
  • Strong wall rock anomalism.
    • Pb assays include 1.1%, 0.39% and 0,28%
    • Zn assays include 1.05% and 0.42%
• o Broad soil anomalism >200 ppm Pb.
  • Significant vein and alteration sets.
    • Mineralisation on scree slope cover BR147 26.76% Pb, 40 g/t Ag.
• High grade Zn gossan delineated on parallel zone to Cassius Clay.

o BR148 returned 29.31% Zn

• Low grade disseminated Zn and Pb mineralisation in fault bounded dolomites.
  • o Values include Pb 0.6% and 0,47%. Zn 0.43% and 0.28%.
• South of the mineralised dolomites and parallel to the main Ragged Hills East Zone.
  • o High grade Cu and Pb associated with an inferred fault zone.

▪ Pb – 49.22% and Cu – 9.75%.

• VTEM conductor NNE of along strike from Cassius Clay Prospect lies under cover.
  • o Prospecting delineated minor gossan float Zn to 0.22%.
• The main Ragged Hills East trend consists of a line of small workings over a strike of 2km.
  • o Systematic grab sampling by Rumble returned high grade Pb assay with associated Zn and Ag
    • Pb assays ranged from 8.98% to 36.98%.
    • Peak assay for Zn 3.84%, Ag – 103 g/t.
  • o Mineralisation ranged from 1m to 3m in width with generally moderate alteration selvages.
• No drilling or modern exploration has been conducted in the Ragged Hills East Area.

Devon Cut Prospect Area (see Image 1 for location)

• Devon Cut Prospect

• o High grade Zn and Pb with anomalous V, Ag and Au along mineralised trend
  • Pb values include 29.47%, 23.17% and 4.01%
  • Zn values include 14.36%, 6.3% and 1.01%
  • V assays include 1.03% and 0.85%
  • Ag assays include 85 g/t and 59 g/t
  • Au assays were anomalous with 0.37 g/t and 0.17 g/t
  • Wall rock assaying returned 2.28% Zn and 0.73% Zn
• o High grade mineralisation is associated with a 10 15m wide silica- sericite alteration zone.
• Devon Cut Trend
  • o Southeast along strike (500 800m) grab sampling returned significant grades in association with the same style of alteration as the Devon Cut Prospect.
    • Pb returned 32.67% and 13.68%.
    • Zn returned up to 5.75%
    • Au was elevated up to 0.19 g/t, V to 0.2% and Ag to 38 g/t.
• South of Devons Cut (1.2 km) and on a parallel mineralised trend, high order Zn in soil anomalism > 300ppm returned anomalous base metals.
  • o Grab samples returned up to 0.98% Pb and 0.55% Zn.
• Western Conductor Zone
  • o Approximately 1km west of the Devon Cut Mineralised trend, a strong VTEM conductor (3km long) was partly tested by grab sampling.
    • Prospecting over the conductor returned significant base metal anomalism. Multiple gossans in mafic volcanics were found.
      • Grab sampling returned Cu to 0.91% and Pb to 1.12%.
• High grade Pb and Ag was found close to the eastern boundary of E45/2032.
  • BR047 assayed 44.8% Pb and 239 g/t Ag.

Mt Brockman Area (see Image 1 for location)

Image 12 – Mt Brockman Area – Soil Sampling Contours (Pb), Grab Sampling Results, VTEM Conductor Trends and Mineralised Structures

• Mt Brockman 1 Prospect

• o High-grade Pb with anomalous Ag and Au
  • Pb assays returned 40.68% and 19.66%
  • Ag returned 136 g/t and 26 g/t, Au returned 0.25 g/t and 0.22 g/t
• o Widespread silica sericite alteration. Zone up to 15m wide.

• Mt Brockman 2 Prospect

• o Silica-sericite alteration up to 10m wide
• o High-grade Pb 43.43%
• o Strong wall rock mineralisation with Pb returning 1.56%, 1.34% and 0.47%

• Mt Brockman 3 Prospect

• o Wide zone of silica sericite alteration (>10m)
• o High-grade Pb 12.27% Pb
• o Wall rock mineralisation returned 2.23% Pb, 1.55% Pb and 0.47% Zn
• Significant Pb in soil anomalism (>300ppm) west of Mt Brockman 1 and 3 remains untested.
• Reconnaissance prospecting south of Mt Brockman 3 returned strong mineralisation
  • o BR073 reported 24 g/t Ag, 5.92% Pb and 0.42% Zn
  • o BR074 reported 0.65% Pb and 0.42% Zn

Iron Mike Prospect (see Image 1 for location)

Image 13. – Iron Mike Prospect Area – Soil Sampling Contours (Zn), Grab Sampling Results and VTEM Conductor Trends and Mineralised Structures

• Iron Mike Prospect

• o Multiple VTEM conductors associated with strong Zn in soil anomalism.
• o Wide zones of silica sericite alteration Elevated Pb background 0.33%, 0.24% and 0.2%
• Mineralised dolomite returned 0.21% Pb and 0.13% Zn.

Moxams Prospect Area (see Image 1 for location)

Image 14. Moxams Prospect Area – Soil Sampling Contours (Pb), Grab Sampling Results, VTEM Conductor Trends and Mineralised Structures.

• Moxams Prospect

• o Moxam mineralised trend strikes over 2km with a VTEM conductor, anomalous Pb in soils, strong alteration and rock chip anomalism.
  • Pb returned up to 18.19% at the Moxam workings wall rock returned 1.17% Pb.
  • Alteration along the trend returned 0.44% Pb, 0.31% Pb and 0.19% Zn.
• North (2km) of Moxams, two grab samples returned 4.29% Pb and 1.68% Pb (over a conductor)

Sugar Ramos and Butterbean Prospect Area (see Image 1 for location)

Image 15. Sugar Ramos and Butterbean Prospects – Soil Sampling Contours (Pb), Grab Sample Results, VTEM Conductors and Mineralised Structures.

Sugar Ramos Prospect – New occurrence

• Widespread silica sericite alteration (up to 20m wide) with strong potassium and barium.
• High-grade Pb 42.76% and 27.59%
• Strong Au anomalism 1.45 g/t.
• Strong wall rock mineralisation 1.13% Pb.
• New discovery with multiple massive galena zones.

Image 16 – Sugar Ramos Prospect Massive Galena Zone

Butterbean Prospect

• Strong silica sericite alteration with high order Pb in soil anomalism.
• Mineralised structure with anomalous Pb and Zn
  • o Pb returned 1.35% and 0.36%, Zn returned 0.28%

Hitman Hearns Target Area (see Image 1 for location)

Image 17. Hitman Hearns Target Area – Soil Sampling Contours (Pb), Grab Sampling Results, VTEM Conductor Trend, Local Geology and Main Interpreted Structures

• A significant VTEM conductor is coincident with a major north trending fault structure.
  • o The structure is in contact with flat lying to slight west dipping shales, dolomites, cherts and volcaniclastics to the west and intermediate to mafic volcanics to the east.
  • o The VTEM conductor is over 2 km in strike.
  • o Limited grab sampling has returned anomalous Pb and Zn
    • Pb returned assays to 0.89% and 0.21%. Zn returned 0.17%
• North trending faults in the volcanics returned anomalous Cu
  • o Grab sample BR108 reported 0.97% Cu.
• Significant base metal in soil anomalism (some anomalies related to main structures) east of the main conductor zone has not been ground checked.

Barker Well Prospect Area (see Image 1 for location)

Image 18. Barker Well Prospect Area – Soil Sampling Contours (Zn), Grab Sampling Results, VTEM Conductors, Local Geology and Main Structures

Barker Well Conductor

• A large north trending conductor (over 2km strike) coincides with a main fault structure which is associated with two small prospects/workings known as Barker Well. The fault transects mainly intermediate and mafic volcanics. The southern end of the conductors is in contact with dolomite and mafic volcanics.
  • o Two prospects returned high grade Pb.
    • Reported Pb values include 38.1% and 24.04% with anomalous Zn 0.78% and 0.32%
    • South of the southernmost prospect, widespread silica sericite alteration (8m wide) with significant K-spar returned strong Pb anomalism – 4.23%.
• Relatively fresh intermediate volcaniclastic sediments (to the northwest of the prospects) with no apparent mineralisation returned high background Pb and Zn values in association with a strong Zn in soil anomaly and a conductor.
  • o BR089 returned 0.41% Pb and 0.17% Zn. BR090 returned 0.15% Zn,

Stage 4 Ground TEM Survey - E45/2032

A high powered Ground TEM survey has commenced at the Braeside project being completed by Khumsup Pty Ltd. The ground EM survey is following up first order VTEM conductors and areas of high-grade base metal mineralisation identified in the first 3 stages targeting accumulations of massive sulphides.

Note: Rumble's program is only surveying a small portion of the targets identified. Rumble has put in place plans to access these in the new year providing further high order targets in 2018.

The aims of the survey are:

• Further delineate significant VTEM bedrock conductors identified
• Target additional bedrock conductors in identified areas of high-grade base metal mineralisation that may have been missed by the VTEM survey as the VTEM program was spaced at 400 metres
• Optimise drill targeting to provide best chance to test bedrock conductors for economic concentrations of high grade base metals.

Stage 5 – Drilling First Order Base Metal Targets

The Company has received the POW approvals from the Department of Mines to complete the upcoming drill program.

Rumble has scheduled the native title survey for next week and commissioned the earth works company to prepare the drill pads ready for the upcoming drilling.

The Company has scheduled the drilling contractor to commence the stage 5 drill testing of the first order VMS targets in mid November 2017.

Pebble conglomerates of the Lower Fortescue Group identified within the Braeside Project

During the quarter Rumble completed an initial desktop review of the wider Braeside Project area, which hosts over 1000 Square kilometres in the Fortescue geology group of the Pilbara region of Western Australia, which confirmed prospectivity for Witwatersrand-style conglomerate-hosted gold mineralisation in geological units similar to the recent gold discoveries by Novo Resources (TSX-V: NVO) at its joint venture project with Artemis Resources (ASX: ARV) in the western Pilbara region.

The desktop study has identified 30km of strike potential of pebble conglomerates that are associated with the Warroo Hill Member of the Hardey Formation (Lower Fortescue Group). The Hardey Formation consists of the Koongaling Felsic Volcanics with metasedimentary units which include the Warroo Hill Member (thickness of 1000m). The Warroo Hill Member consists of metamorphosed quartzite, micaeous quartzite, pebble conglomerate and siltstone.

Within the Braeside Project, the Warroo Hill Member occurs in two areas along the eastern boundary (cumulatively strike of around 30km) – See Image 1. The area is not well exposed and is subject to eolian cover. These eastern license applications have recently passed through the period for objections under the Mining Act and as such are now subject to the statutory Native Title notification and negotiation period.

Gold has historically been mined within conglomerates associated with the Hardey Formation and the basal unit to the Mt Roe Basalt at several locations in the Pilbara region, including Marble Bar.

In the east Pilbara where Rumble's licences are located, gold-bearing conglomerates were first recognised and mined 130 years ago in the Beatons Creek area (See Image 19) and form part of the Hardey Formation in the lower Fortescue Group. The Beatons Creek project is owned by Novo Resources in joint venture with Sumitomo Corporation and is currently undergoing feasibility studies for development.

No recorded detailed exploration for gold has been recorded at the identified pebble conglomerates within the Braeside Project. Rumble will continue to review all open file and historical exploration records and plan the next stages of exploration.

Given the high level of interest in exploration for gold in conglomerates in the Pilbara region, Rumble considers it prudent to thoroughly evaluate the conglomerate gold potential of the Braeside Project

Image 19. Location of the Braeside Project and the Lower Fortescue Group

Barramine Cu- Pb-Zn- Ag Project, Western Australia – E45/4368

During the quarter signed a binding option agreement to acquire up to 70% of the Barramine Cu-Pb-Zn-Ag Project. This binding option agreement allows Rumble to complete due diligence for up to 3 months and if satisfied at its election enter a joint venture agreement. The Barramine Project E45/4368 is located approximately 150km ENE of Marble Bar in the Pilbara Region of Western Australia (See Image 20) and is contiguous to the Braeside Project. The Barramine Project covers the northern extension of the Fortescue and Hamersley Group Rocks (Late Archaean) that lie within Rumble's Braeside Project.

The north and northwest trending faults/structural zones, some with associated base metal mineralisation are hosted in Fortescue Group intermediate/mafic volcanics and volcaniclastics in association with the Koongaling Felsic Volcanics. The felsic volcanics are bimodal with the Fortescue Group basalts and are potentially the source of the poly-metallic mineralisation.

Previous Exploration

The Barramine Project consists of a number of untested high-grade Cu, Pb, Zn, Ag and Au prospects and occurrences associated with a major NNW fault zone within mafic volcanics and volcaniclastic.

Two locations within the Barramine Project have been subject to historical prospecting pits and minor grab sampling for base metals in the Barramine and Camel Hump Prospects. Both prospects are related to steep NNW trending reverse faults that contain copper, lead, Zinc and silver. Previous work has shown the historical samples were taken on the structures to be similar in style to the Braeside-style structures to the south east.

• At the Barramine prospect a channel sample collected by Blatchford in 1925 assayed 25.32% copper, 279 g/t silver, and a trace of lead.
• At the Camel Hump prospect, rock chip samples were assayed up to 13.4% Copper, 6% Lead, 1.8% Zinc and 131 g/t Silver

Exploration Potential

Rumble recently completed exploration at the Braeside Project which identified significant base metal trends and VTEM conductors that appear to extend north into the Barramine Project - See image 21 and image 22.

Very limited modern exploration to the South East of the Barramine project with the poly-metallic mineralisation not been tested by detailed geophysics, geochemistry and drilling. Subject to successful completion of due diligence and exercise of the option, the Company will outline its proposed exploration program

Image 21 – VTEM Conductors at Braeside Project open to Barramine Project Image 22 – Zinc geochemistry at Braeside project open to Barramine project

Earaheedy High Grade Zn Project, Western Australia

Subsequent to the end of quarter Rumble announced that it has signed a binding option agreement to acquire up to 75% of the Earaheedy Zinc Project (E69/3464 – 75 km²), located approximately 110km north of Wiluna, Western Australia, covering most of the known zones of primary carbonate-hosted zinc – lead mineralisation in the Earaheedy Basin. Refer ASX announcement dated 12 October 2017 for further details.

Image 23. Project Location and Regional Geology – Earaheedy Project – E69/3464

Exploration Overview

Broad spaced drilling (completed in the 1990's) defined several prospects containing oxidised and primary Zn-Pb mineralisation (zinc dominant) associated a flat lying to shallow northeast dipping laterally continuous dolomite horizon with over 20 kilometres strike. The initial drill spacing was 5 to 10km. The current drill spacing is approximately 1km by 1km. Three prospects were defined within the current Earaheedy Project (E69/3464).

Hole	Prospect	East	North	From (m)	To (m)	Intersection
TDH4	Navajoh	264466	7158215	150.2	157.5	7.3m @ 6.12% Zn, 0.77% Pb
			incl.	150.2	153.5	3.3m @ 11.2% Zn, 0.93% Pb
TDH14	Chinook	252886	7166840	222.5	231.5	9m @ 3.54% Zn, 0.58% Pb, 2.3ppm Ag
TRC47	Magazine	262263	7159796	103	114	11m @ 2.66% Zn, 0.84% Pb, 4.4ppm Ag
			incl.	103	105	2m @ 8.23% Zn, 2.77% Pb, 6 ppm Ag
TRC70	Chinook	253471	7165813	126	131	5m @ 2.52% Zn, 1.02% Pb, 6.8 ppm Ag
TDH20	Navajoh	265616	7158831	210.5	216.5	6m @ 3.9% Zn, 0.39% Pb, 2.5 ppm Ag
			and	225	241	16m @ 1.0% Zn, 0.12%Pb

Table 1. Selected drill intersections from the Navajoh, Magazine and Chinook Prospects

Zinc and lead mineralisation with elevated silver is associated with the Navajoh Dolomite Member (also known as the Sweetwaters Well Member) of the Yelma Formation. The Yelma Formation is the lower unit of the 5000m thick Earaheedy Basin (Palaeoproterozoic). Sphalerite, galena, pyrite and marcasite (coarse grain) occurs as stratiform/stratabound ore fill veins and breccias, dissolution cavity fill, disseminated, stylolitic and fault fill mineralisation styles.

The mineralisation style is considered Mississippi Valley Type (MVT) with metal rich brines (dewatering during diagenesis) migrating laterally and following up late basin structures to react with carbonate rocks precipitating Zn and Pb sulphides. Subsequent later faulting has likely remobilised sulphides and potentially developed high angle higher grade base metal mineralisation.

Narrow high-grade silver mineralisation (TDH16 – 2m @ 149 g/t Ag (4.8 oz/t) from 223m and 4m @ 559 g/t Ag (18 oz/t) from 257m) may represent remobilisation of sulphides.

Exploration Potential

Review of the historic drilling has concluded that approximately half the drill holes did not intercept the target horizon. A total of 64 drill holes were completed within the project area (E69/3464) with only 35 drill holes intercepting the stratiform zinc horizon (including partial end of hole intercepts).

Structural contouring of the flat lying mineralised carbonate horizon by Rumble has highlighted the extent of mineralisation. Using Zn%-m (cumulative assay values > 0.15% Zn per hole) contouring as a guide (see Image 24), significant areas of untested potential mineralisation remain completely open. North of the Magazine prospect (image 2), drill hole spacing is up to 2km. Note that the Zn%-m contouring represents metal endowment per drill hole and does not indicate economic grade and widths.

Image 24. Structural Contours (Zn%-m) Drill Holes Intercepting Mineralised Horizon.

Review by Rumble has highlighted strong zinc and lead zonation associated with the Magazine and Navajoh Prospects. Based on Zn:Pb ratios of the total zinc and lead metal endowment of the drill holes that intercept the mineralised zone, the zonation is parallel to the host geology and an inferred low to moderate angle fault structure delineated by aero-magnetics beneath the Yelma Formation. Image 25 presents the strong Zn:Pb zonation and the potential late basin low to moderate angle bedding fault.

The significance of the zonation and the inferred bedding parallel fault is:

• The zonation has not been modified by later transfer faults and reflects the main mineralisation phase.
• The parallel bedding fault is potentially mineralised and may have been the main conduit for the zinc and lead mineralisation.
• The intersections of the cross cutting faults (including transfer faults), the parallel bedding fault and the stratiform mineralised carbonate horizon are high order targets for high-grade Zn and Pb deposits.

Image 25. Southeast Portion of Earaheedy Project Zn:Pb Ratio of Mineralisation in Drill Holes over Aero-Magnetic Coloured TMI Image.

Exploration Model and Strategy

Rumble considers the exploration model to be analogous to known MVT (Mississippi Valley Type) deposits worldwide whereby high grade Zn – Pb sulphide mineralisation is associated with moderate to high angle faults. The Earaheedy Project, based on the mineralisation style, host rocks, known basement structural architecture and the current drilling density (2km by 1km and 1km by 1km spacing), has the potential to host a significant Zn – Pb resource.

The target size is similar to the Pillara (Blendevale) Zn – Pb deposit located in the Devonian limestones of the Lennard Shelf, Kimberley Region, Western Australia which produced 10.3 Mt @ 6.9% Zn and 2.3% Pb. Of note, the discovery drill-hole (8m @ 8.9% Zn, 3.5% Pb below 210m) at Pillara, was the 136th drill hole in the area.

Image 26 – X Section Pillara Deposit Image 27 – Potential Earaheedy MVT Model

The exploration strategy planned by Rumble include

• High resolution gravity survey
  • o With carbonates underlaying the entire project area, density contrast modelling may help delineate basement structures that reflect mineralisation pathways.
  • o High density anomalies may be directly related to sulphides.
• Subject to basement structures delineated by gravity and remodelling magnetics, IP or appropriate electrical geophysical method will focus on these structures to define drilling targets and then drill test.

Fraser Range Ni-Cu Projects, Western Australia

During the quarter Rumble secured the involvement of leading base metal and gold miner Independence Group NL (ASX: IGO) to explore and earn an interest in its highly prospective projects in the Fraser Range region of WA – See Image 28.

Under the terms of the Agreement between Rumble and Independence Newsearch Pty Ltd (a wholly owned subsidiary of Independence Group NL), IGO has been granted the right to earn 70% equity in Rumble's 100%-owned Fraser Range Projects. Refer ASX announcement dated 2 October 2017 for further details.

Image 28 – Rumble's 100% Owned Fraser Range Projects

Ongoing Review of Resource Opportunities

The addition to the board of Brett Keillor has enhanced the Company's strategy to proactively identify and review potential acquisition opportunities to complement the Company's existing projects and activities.

Brett Keillor as Technical Director was instrumental in identifying the Braeside project opportunity. Brett has over 30 years' experience in the mining industry working across a diverse range of commodities with expertise in targeting large deposits and identifying company making projects. Brett worked and reviewed exploration and development projects across the globe for Independence Group and Resolute and has been instrumental in discovering seven significant deposits.

During the quarter the Company reviewed opportunities in the resource sector in line with the set of objective criteria's set out by the board, including targeting more advanced and near term production assets.

A number of these opportunities that met the company's stringent criteria are at advanced stages with due diligence and discussions ongoing.

The Company will keep the market updated should any of these discussions result in an agreement being reached.

Rumble Current Portfolio

The Company continues to review its project portfolio which encompassed project prioritisation and consideration of expenditure commitments with a view to rationalise costs. There was no further on-ground exploration activity on Rumble's other projects during the quarter.

Corporate.

Subsequent to the end of the quarter Rumble received $85k as part of the IGO earn in. This is additional to the $1.1mil in the bank as at the end of the quarter and detailed in the quarterly cash flow.

Shane Sikora Managing Director

• 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 gold and base metal assets and will continue to look at mineral acquisition opportunities both in Australia and abroad.

Forward Looking and Cautionary Statement

The information in this report that relates to historic exploration results was collected from DMP reports submitted by government agencies and previous explorers. Rumble has not completed the historical data or the verification process. As sufficient work has not yet been done to verify the historical exploration results, investors are cautioned against placing undue reliance on them.

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". The exploration results included in this announcement in respect of the Braeside Project were first announced by the Company on 20 March 2017, 18 April 2017, 11 May 2017, 4 September 2017 and 16 October 2017. The Company confirms that it is not aware of any new information or data that materially affects in information included in that previous announcement. 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.

Appendix

In accordance with Listing Rule 5.3.3. Rumble provides the following information in relation to its mining tenements.

1. The mining tenements held at the end of the quarter and their location.

Project	TenementNumber	Status	Location	BeneficialPercentageInterest
Beadell	E45/2405	Granted	Western Australia	100%
Beadell	E45/4891	Application	Western Australia	100%
Big Red	E28/2268	Granted	Western Australia	100% Note 5
Thunderstorm	E28/2528	Granted	Western Australia	100% Note 5
Thunderstorm	E28/2529	Granted	Western Australia	100% Note 5
Thunderstorm	E28/2595	Granted	Western Australia	100% Note 5
Thunderdome	E28/2366	Granted	Western Australia	100% Note 5
Mt Gibson	E59/2215	Granted	Western Australia	100%
Mt Gibson	E59/2216	Granted	Western Australia	100%
Braeside	E45/2032	Granted	Western Australia	0% Note 2
Braeside	E45/4872	Application	Western Australia	100%
Braeside	E45/4873	Application	Western Australia	100%
Braeside	E45/4874	Application	Western Australia	100%
Braeside	E45/4937	Application	Western Australia	100%
Braeside	E45/4938	Application	Western Australia	100%
Braeside	P45/3037	Application	Western Australia	100%
Barramine	E45/4368	Granted	Western Australia	0%Note 3
Earaheedy(subsequent to endof quarter)	E69/3464	Granted	Western Australia	0% Note 4
Derosa	Bompela	Granted	Burkina Faso	85% Note 1
Burkina Faso	Pogoro	Granted	Burkina Faso	100%
Burkina Faso	Yalore	Granted	Burkina Faso	100%

2. Mining tenements acquired during the quarter and their location:

Project	TenementNumber	Status	Location	BeneficialPercentageInterest
Earaheedy(subsequent to end ofquarter)	E69/3464	Granted	Western Australia	0% Note 4
Barramine	E45/4368	Granted	Western Australia	0%Note 3

3. Mining tenements disposed of during the quarter and their location:

Project	TenementNumber	Status	Location	Comment
Nil

1. Derosa Project, Burkina Faso

Bompela is subject to a Joint Venture agreement with Canyon Resources limited whereby Rumble owns 85% interest and Canyon a 15% interest.

2. Braeside Project, Western Australia

E45/2032 is subject to an earn in agreement whereby Rumble can earn a 70% interest by spending A$1.5mill over 3 years. Refer ASX announcement 20 March 2017 for further details in respect of the acquisition.

3. Barramine Project, Western Australia

E45/4368 is subject to an earn in agreement whereby Rumble can earn a 70% interest by spending A$1.5mill over 3 years. Refer ASX announcement 7 September 2017 for further details in respect of the acquisition.

4. Earaheedy Project, Western Australia

E69/3464 is subject to an option agreement whereby Rumble can earn a 75% interest by spending paying A$500k within 3 years. Note this was completed subsequent to the end of the September quarter. Refer ASX announcement 12th October 2017 for further details in respect of the acquisition.

5. Fraser Range Projects, Western Australia

E28/2268, E28/2528, E28/2529, E28/2595, E28/2366 is subject to earn-out agreement whereby IGO can earn a 70% interest by spending paying A$1.5mil in exploration over 3 years. Refer ASX announcement 2nd October 2017 for further details in respect of the acquisition.

+Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16

Name of entity
Rumble Resources Limited
ABN	Quarter ended ("current quarter")
74 148 214 260	30 September 2017

	Consolidated statement of cash flows	Current quarter$A'000	Year to date(3 months)$A'000
1.	Cash flows from operating activities
1.1	Receipts from customers	-	-
1.2	Payments for
	(a)exploration & evaluation	(323)	(323)
	(b)development	-	-
	(c)production	-	-
	(d)staff costs	(47)	(47)
	(e)administration and corporate costs	(146)	(146)
1.3	Dividends received (see note 3)	-	-
1.4	Interest received	3	3
1.5	Interest and other costs of finance paid	-	-
1.6	Income taxes paid	-	-
1.7	Research and development refunds	-	-
1.8	Other (provide details if material)	1	1
1.9	Net cash from / (used in) operatingactivities	(512)	(512)

2.	Cash flows from investing activities
2.1	Payments to acquire:
	(a)property, plant and equipment
	(b)tenements (see item 10)
	(c)investments
	(d)other non-current assets

• See chapter 19 for defined terms

1 September 2016 Page 1

Consolidated statement of cash flows		Current quarter$A'000	Year to date(3 months)$A'000
2.2	Proceeds from the disposal of:
	(a)property, plant and equipment	-	-
	(b)tenements (see item 10)	-	-
	(c)investments	-	-
	(d)other non-current assets	-	-
2.3	Cash flows from loans to other entities	-	-
2.4	Dividends received (see note 3)	-	-
2.5	Other (provide details if material)	-	-
2.6	Net cash from / (used in) investingactivities	-	-

3.	Cash flows from financing activities
3.1	Proceeds from issues of shares	50	50
3.2	Proceeds from issue of convertible notes	-	-
3.3	Proceeds from exercise of share options	-	-
3.4	Transaction costs related to issues ofshares, convertible notes or options	(48)	(48)
3.5	Proceeds from borrowings	-	-
3.6	Repayment of borrowings	-	-
3.7	Transaction costs related to loans andborrowings	-	-
3.8	Dividends paid	-	-
3.9	Other (provide details if material)	-	-
3.10	Net cash from / (used in) financingactivities	2	2

4.	Net increase / (decrease) in cash andcash equivalents for the period
4.1	Cash and cash equivalents at beginning ofperiod	1,613	1,613
4.2	Net cash from / (used in) operatingactivities (item 1.9 above)	(512)	(512)
4.3	Net cash from / (used in) investing activities(item 2.6 above)	-	-
4.4	Net cash from / (used in) financing activities(item 3.10 above)	2	2
4.5	Effect of movement in exchange rates oncash held	-	-
4.6	Cash and cash equivalents at end ofperiod	1,104	1,104

• See chapter 19 for defined terms

1 September 2016 Page 2

5.	Reconciliation of cash and cashequivalentsat the end of the quarter (as shown in theconsolidated statement of cash flows) to therelated items in the accounts	Current quarter$A'000	Previous quarter$A'000
5.1	Bank balances	1,104	541
5.2	Call deposits	50	55
5.3	Bank overdrafts	-	-
5.4	Funds held in trust for issuance of shares.	-	1,017
5.5	Cash and cash equivalents at end ofquarter (should equal item 4.6 above)	1,104	1,613

6.	Payments to directors of the entity and their associates	Current quarter$A'000
6.1	Aggregate amount of payments to these parties included in item 1.2	75
6.2	Aggregate amount of cash flow from loans to these parties includedin item 2.3	-
6.3	Include below any explanation necessary to understand the transactions included initems 6.1 and 6.2
	Executive and non-executive director fees and technical consulting services.

7.	Payments to related entities of the entity and their
	associates

7.1	Aggregate amount of payments to these parties included in item 1.2	-

7.2	Aggregate amount of cash flow from loans to these parties included
	in item 2.3

7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2

n/a

Current quarter $A'000

8.	Financingfacilities availableAdd notes as necessary for anunderstanding of the position	Total facility amountat quarter end$A'000	Amount drawn atquarter end$A'000
8.1	Loan facilities	-	-
8.2	Credit standby arrangements	-	-
8.3	Other (please specify)	-	-

8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

n/a

9.	Estimated cash outflows for next quarter	$A'000
9.1	Exploration and evaluation	(320)
9.2	Development	-
9.3	Production	-
9.4	Staff costs	(50)
9.5	Administration and corporate costs	(150)
9.6	Other (provide details if material)
9.7	Total estimated cash outflows	(520)

10.	Changes intenements(items 2.1(b) and2.2(b) above)	Tenementreferenceandlocation	Nature of interest	Interest atbeginningof quarter	Interestat end ofquarter
10.1	Interests in miningtenements andpetroleum tenementslapsed, relinquishedor reduced	E28/2268E28/2528E28/2529E28/2595E28/2366FraserRange,WesternAustralia	Subject to earn-outagreement whereby IGOcan earn a 70% interest,refer announcement 2October 2017	100%	100%
10.2	Interests in miningtenements andpetroleum tenementsacquired or increased	E45/4368,PilbaraRegion,WesternAustralia	Earning up to 70%,subject to agreementannounced to ASX7 September 2017	0%	0%

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
• 2 This statement gives a true and fair view of the matters disclosed.

[lodged electronically without signature] 31 October 2017

Sign here: ............................................................ Date: ............................................. (Director/Company secretary) Steven Wood

Print name: .........................................................

Notes

• 1. The quarterly report provides a basis for informing the market how the entity's activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.
• 1. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
• 1. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.