RUMBLE RESOURCES LIMITED — Interim / Quarterly Report 2021

Jul 28, 2021

29[th] July 2021

June 2021 Quarterly Activities Report

Rumble Resources Ltd (ASX: RTR) (“Rumble” or “the Company”) is pleased to provide an update with respect to the Company’s activities during the June 2021 quarter. Rumble’s focus is on rapidly advancing the major Zinc-Lead discovery at the Earaheedy Project.

Earaheedy Zn-Pb-Ag-Mn Project, Wiluna, Western Australia

• 30,000m Drill Program – Commenced

• Chinook Zn-Pb discovery mineralisation footprint – Expanded to 3km by 1.8km and remains open in all directions

Rumble Resources Ltd

Suite 9, 36 Ord Street, West Perth, WA 6005

T +61 8 6555 3980

F +61 8 6555 3981

• Exploration Target - Range increased to 100mt - 120mt* at 3.5% to 4.5% Zn-Pb

• Regional Gravity - Commenced

rumbleresources.com.au

• Passive Seismic - Commenced

ASX RTR

Western Queen Au Project, Mt Magnet, Western Australia

• Maiden Gold Resource – Pending

Executives & Management

Lamil Au-Cu JV Project - AIC Mines, Paterson Province, Western Australia

• 10,000m RC Drill Program – Planned September 2021 Quarter

• Airborne EM - Planned September 2021 Quarter

Braeside Cu-Au-Zn-Pb-Ag Project, East Pilbara, Western Australia

• Consolidation - Secured 100% ownership of Project

Mr Shane Sikora Managing Director

Mr Brett Keillor Technical Director

Mr Matthew Banks Non-executive Director

Barker Well Prospect

• Ground IP survey completed – Analysis Commenced

Camel Hump Prospect

• Airborne EM Program - Planned September Quarter

Warroo Cu-Zn-Pb-Ag-Au-U-Pt Project, East Pilbara

Mr Michael Smith Non-executive Director

Mr Peter Venn Non-executive Director

Mr Steven Wood Company Secretary

• Airborne EM Program - Planned September Quarter

Munarra Gully Au-Cu-Ag-Zn Project, Cue, Western Australia

• RC drill program – Planned September 2021 Quarter

• DHEM Program – Planned September 2021 Quarter

Corporate

• Highly credentialed global mining executive Peter Venn appointed as NonExecutive Director

• Senior Geological Management team bolstered with the appointment of Ben Jones and Luke Timmermans.

• $40 million placement completed during the quarter

• Strong cash position of $39.7 million at the end of the quarter

• $266k in listed investments at the end of the quarter

• Refer page 7 for further details on the 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. 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.

- Location of Rumble Projects Multiple Avenues to Discovery

==> picture [65 x 56] intentionally omitted <==

==> picture [801 x 436] intentionally omitted <==

2

==> picture [62 x 53] intentionally omitted <==

1. EXPLORATION AND DEVELOPMENT ACTIVITIES

1.1 Earaheedy Zn-Pb-Ag-Mn Project, Wiluna, Western Australia

The Earaheedy project is located approximately 110km north of Wiluna, Western Australia - Image 1. Rumble owns 75% of E69/3464 and Zenith Minerals Ltd (ASX: ZNC) owns 25%. Rumble has two contiguous exploration license applications ELA69/3787 and E69/3862 (100% RTR) covering the known strike extent of a Zn-Pb mineralized horizon. The project area covers the inferred unconformity contact between the overlying Frere Iron Formation and underlying Yelma Formation of the Palaeoproterozoic Earaheedy Basin. On 19 April 2021 Rumble announced a major Zinc-Lead Discovery with ‘Tier 1’ potential at the Earaheedy Project (See ASX Announcement 19th April 2021) and followed this up by announcing a large SEDEX style system emerging at the Earaheedy Project (aee ASX announcement 25 May 2021) within E69/3464. There are 2 main prospects within E69/3464, Chinook and Magazine/Navajoh which lie 8km apart. Within the project area, Rumble controls 45km of prospective mineralised strike which has the potential for multiple large tonnage Zn – Pb deposits - Image 1. Drilling to date has established a 3km x 1.8km Zn-Pb-Ag mineralised footprint that is open in all directions.

==> picture [402 x 234] intentionally omitted <==

Image 1 – Earaheedy Project With Regional Geology and Prospect Locations

==> picture [340 x 263] intentionally omitted <==

Image 2 – Earaheedy Project Geology and Prospect Locations

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 3

==> picture [62 x 53] intentionally omitted <==

RC Drill Program – Chinook Zinc-Lead-Silver-Manganese Discovery

At Chinook the first pass drill program consisted of five (5) fences of vertical RC drill-holes located 500m apart, completed on 100m spacings for a total of 2,653m (26 drill holes). All drill-holes intersected the Zn-Pb mineralization hosted within the basal unit of the Frere Iron Formation above the unconformity (contact between Frere Iron Formation and Yelma Formation). Following a successful $40 million capital raising, Rumble commenced a major 30,000m RC & Diamond drill program and has recently announced results from a further four (4) holes.

• Assays received for the first four step-out holes have significantly increased the mineralisation footprint 700m in a south-west to north-east direction, and another 900m in a south-east to north-west direction

• The ongoing zinc-lead mineralisation footprint now is 3km by 1.8km, an increase of 125%

• Significantly, mineralisation remains open in all directions

Intersections (all true width) include:

• EHRC061 – 23m @ 4.1% Zn + Pb from 103m (0.5% Zn + Pb cut-off) o including – 17m @ 5.21% Zn + Pb, 6.2 g/t Ag from 103m (2% Zn + Pb Cut-off)

• EHRC059 – 18m @ 3.06% Zn + Pb from 56m (0.5% Zn + Pb Cut-off) o including - 9m @ 5.3% Zn + Pb, 6.6 g/t Ag from 64m (2% Zn + Pb Cut-off)

• EHRC055 – 11m @ 3.98% Zn + Pb from 68m (0.5% Zn + Pb Cut-off) o including - 6m @ 6.57% Zn + Pb , 16 g/t Ag from 69m (2% Zn + Pb Cut-off)

• EHRC051 – 38m @ 1.12% Zn + Pb from 38m (0.5% Zn + Pb Cut-off) o including - 7m @ 4.05% Zn + Pb, 5.3 g/t Ag from 48m (2% Zn + Pb Cut-off)

• EHRC060 – 52m @ 1.65% Zn + Pb from 50m to EOH (0.5% Zn + Pb Cut-off) o including - 16m @ 3.32% Zn + Pb, 2.7 g/t Ag from 75m (2% Zn + Pb Cut-off)

• EHRC083 - 49m @ 2.45% Zn+Pb from 18m (0.5% Zn+Pb Cut-Off) o with zone of 9m @ 3.67% Zn+Pb, 7.44% Mn, 3.6 g/t Ag from 46m

• EHRC087 - 52m of 1.78% Zn+Pb from 126m to EOH (0.5% Zn+Pb Cut-Off) o Including 8m @ 3.43% Zn+Pb,5.1 g/t Ag from 129m

==> picture [444 x 305] intentionally omitted <==

Image 3 – Drill Hole Location Plan – Chinook Prospect with Section AB Location

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 4

==> picture [62 x 53] intentionally omitted <==

In addition to Chinook’s footprint expansion, even at this early stage of our ongoing 30,000m drill program Rumble has already uncovered some exciting new developments – see Images 3 and 4 .

On the southwestern margin of Chinook, previous drill holes indicated the oxide zone was depleted of mineralisation and was pinching out at surface. However, in multiple new drill holes we have now intercepted wide zones of significant oxide mineralisation with one intercept over 49m (true width) from only 18m (see Image 4), opening up the entire southwestern corridor for the possibility of large-scale shallow oxide deposit(s) to complement the potential large scale sulphide open cut and underground deposit(s).

Just as impressive, in an area with no previous drilling, our first hole 500m northwest of the previously most northwestern drilling line intersected Zn-Pb mineralization with true widths up to 50m.

With each drill hole we gather more data, and our understanding of the geology of this very large sediment hosted Zinc-Lead system continues to improve. This, in combination with our geophysical targeting methods will enable us to pinpoint in on the interpreted higher-grade feeder structures contained within this very large body of mineralisation. Using these refined targeting methods will not only fast track the ongoing drilling and targeting at the Chinook prospect discovery, they will also assist the advancement of potential new discoveries throughout the 45km’s of strike that remains untested at the Earaheedy Project.

This in-depth understanding has been achieved with only 2,500m of the 30,000m planned drilling having been completed to date. With the second and third RC drill rigs arriving over the coming weeks the pace of the drilling to define the limits of this potentially very large Zn-Pb system will accelerate and allow the testing of the previously reported inferred high-grade feeder structures.

==> picture [531 x 398] intentionally omitted <==

Image 4 – Drill Hole Section AB – Chinook Prospect (see Image 3 for Location)

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 5

==> picture [62 x 53] intentionally omitted <==

Potential Large-Scale Zn-Pb-Ag ‘Tier 1’ SEDEX Variant at Chinook

Initial interpretation indicates a large scale SEDEX (variant) deposit at Chinook – see Image 5.

• Structural Setting: Inferred Extension Faults (possible feeders) – Swarms or clusters parallel to Lockeridge Fault hosting higher grade Zinc-Lead

• Geological Setting: Large underlying shale/carbonate horizon (Yelma Formation) – source of metal

• Amenable large host horizon: Siltstone, shale, sandstone, marl/micrite and evaporite (Unconformity)

• Mineralisation, which remains open in all directions, has characteristics of some SEDEX systems:

• Associated higher grade Manganese (up to 21.34% Mn) and Silver (up to 16 g/t Ag) with the main Zinc-Lead mineralisation

• Distal Barium anomalism (up to 1.45% Ba)

• Low Cadmium with Zinc (60 to 100ppm) & high Zinc:Cadmium ratios (300 to 500)

• Significant increase in Copper anomalism with feeder zones

• Massive Pyrite zones (up to 27.5% FeS2) – peripheral to the base metal sulphides

• Pervasive widespread low temperature silica alteration

==> picture [464 x 300] intentionally omitted <==

Image 5 – Earaheedy Project – Updated Geology Model – Incorporating SEDEX Style Mineralisation

Next Steps

• Major 30,000m RC and Diamond drilling program has commenced to define the limits of the Zn-Pb- Ag mineralisation along strike and down dip of the Chinook prospect –2,500m completed to date with only 4 holes assayed and reported

• Once the limits have been defined, infill drilling targeting the inferred high-grade feeders will commence

• Two RC rigs onsite at present, a third RC rig is due to arrive in the coming weeks

• A trial sonic drilling program to focus on twinning drill-holes EHRC044, EHRC050 and EHRC061 to improve recovery of cored material

• A gravity survey has commenced along strike between the Chinook and Magazine Prospects to further assist the targeting of the prospective Zn-Pb- Ag mineralised horizon

• A passive seismic survey has commenced at Chinook to improve drill targeting

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 6

==> picture [62 x 53] intentionally omitted <==

First Stage Exploration Target

Rumble’s first stage Exploration Target at the Earaheedy Project is currently between 100 to 120 million tonnes at a grade ranging between 3.5% Zn-Pb to 4.5% Zn-Pb – see Table 1. This Exploration Target is only interpreted to a shallow depth (120m) and occurs within a small portion of the 45kms of prospective strike of the mineralised Zn-Pb horizon. Mineralisation remains open in all directions. 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 a large-scale Zn-Pb deposit(s) within the Earaheedy Project. The Exploration Target has been prepared and reported in accordance with the 2012 edition of the JORC Code.

==> picture [366 x 127] intentionally omitted <==

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 and a feasibility study completed at the nearby Paroo Pb deposit.

Included in the data on which this Exploration Target has been prepared is previous and ongoing RC/Diamond drilling of 17 holes for approximately 2,500m, 30 holes for 2,690m (three RC stages), 33 holes for 3,593m recently completed and diamond drilling of 4 holes for 1,199.8m completed by Rumble along with 64 historic RC drill holes completed within the project area (E69/3464) by previous explorers (refer exploration results in previous ASX announcements dated 5 February 2019 and 12 October 2017, 23[rd] January 2020, 19 April 2021 and 2 June 2021 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 mineralisation;

• Over 45km’s of prospective strike and open (refer Image 2);

• 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 52 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.

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 7

==> picture [62 x 53] intentionally omitted <==

1.2 Western Queen Au Project, Mt Magnet, Western Australia

The Western Queen Gold Project lies 110km NW of Mt Magnet within the Yalgoo mineral field of Western Australia comprising two 100% owned mining leases M59/45 and M59/208 and 2 exploration tenements E20-0967 and E59-2443 which are also 100% RTR. The Project is located within a 110km radius of three operating gold processing facilities.

Rumble has completed and announced three phases of over 30,000m of Diamond Core, RC and AC drilling. The drilling is wholly within M59/45 and M45/208. The 3 phases of drilling were designed to (see Image 6):

• Define the position and potential of the Western Queen Central Main high-grade gold shoot

• Highlight the potential for other multiple high-grade gold shoots north of the Western Queen Central open pit – e.g. Duke Zone

• Infill Resource drill the historic Western Queen South gold resource (inferred and indicated resource of 832,000t @ 3.1 g/t Au for 83,000oz

• Test a potential shallow resource at Baron

• Test below The Baron zone (Baron Deeps), testing for higher-grade shoots and resource depth extension

• • Test the resource potential of the Western Princess zone

• Provide extensional drilling south of the Western Queen South deposit and test for continuity of the main Western Queen Shear zone

• Reconnaissance air core drilling between The Duke area and the Cranes Prospect

• Reconnaissance RC drilling at the Cranes Prospect

==> picture [560 x 312] intentionally omitted <==

Image 6: 2.7km’s of Mineralisation Identified – Resource Drilling Completed

Next Steps

• Database compilation and associated resource estimation work for the multiple resource zones has commenced

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 8

==> picture [62 x 53] intentionally omitted <==

1.3 Lamil Gold-Copper JV Project, Paterson Province, Western Australia

The Lamil Project is located in between the major mining operations of the Nifty Cu mine and the large Telfer Au-Cu mine within the Paterson Province, East Pilbara, Western Australia (see Image 7).

In July 2019 Rumble signed a $10m Farm Out of the Lamil Project with AIC Mines (ASX: A1M). AIC can earn a 50% interest by spending $6 million over 4 years. Thereafter AIC can earn a further 15% by spending $4 million over 1 year if Rumble elects not to contribute.

The Lamil Dome target exhibits the key structural features required to host a Telfer-style dome deposit (32Moz Au, 1Mt Cu resource) which lies 30km to the northeast of Rumble’s Lamil Dome Target (see Image 8). Image 7: Lamil Project location and Targets

==> picture [549 x 222] intentionally omitted <==

Image 8. Lamil Project - Schematic cross section illustrating relative positions of Key Targets Areas with respect to interpreted geology

Next Steps

• UTS Geophysics have been contracted by AIC to undertake a helicopter supported VTEM Airborne EM survey commencing in late July. The survey will cover the prospective western half of the northern tenement and the majority of the southern tenement. The aim of the survey is to aid in the definition of stratigraphy and structure beneath cover, and generate conductors related to sulphide mineralisation.

• During the September quarter a Reverse Circulation (RC) drilling program is planned to both extend and infill the Lamil Main Dome and Lamil NE prospects, drilled in the maiden 2020 drilling campaign, as well as test the Goodenia, Hovea and the Desert Pea Targets.

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 9

==> picture [62 x 53] intentionally omitted <==

1.4 Braeside and Warroo Projects, East Pilbara Western Australia

The Braeside and Warroo Projects (see Image 9) are located east of Marble Bar in the East Pilbara Region of Western Australia.

During the quarter Rumble has consolidated the Braeside Project securing 100% of tenements E45/4368 and E45/2032. The Braeside Project is now held 100% by Rumble and comprises of 4 granted exploration licences (E45/2032, E45/4368, E45/4873 and E45/4874) with an area of 670 km². The project hosts a regional scale porphyry epithermal and potential VMS province fracture system over 60km in strike and 8km wide.

Over 30 high priority base metal targets have been generated including:

• Barkers Well Prospect – 800m long fracture zone with multiple high grade Pb breccia pipes

• Camel Hump Cu Prospect - Wide zone of oxide stringer copper hosted in volcaniclastic siltstone and shale – VMS Potential

The Rumble 100% owned Warroo Project consists of E45/5366 and E45/5689 for 793 km². The host lithology to the copper mineralisation at Camel Hump has similar characteristics to the Warroo Hill Member lithologies. The Camel Hump and Warroo Hill Member lithologies lie within the same corridor with respect to strike and structure – Potential and represents a potential new VMS Province.

==> picture [370 x 335] intentionally omitted <==

Image 9. Braeside and Warroo Project Location over Province Geology

Next Steps

• Orientation IP has been completed to test both the north and south breccia zones at Barkers Well to aid in targeting deeper high-grade mineralisation positions for RC and Diamond drilling. Results will be announced once Rumbles Technical team has analysed data.

• Airborne TEM over the Camel Hump prospect and Warroo Synform (located within the Warroo project area) is planned in the September quarter aimed at discovering conductors for drill testing

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 10

==> picture [62 x 53] intentionally omitted <==

1.5 Munarra Gully Au-Cu-Ag-Zn Project, Cue District, Murchison, WA

The Munarra Gully Project is located some 50km NNE of the town of Cue within the Murchison Goldfields of Western Australia. Rumble owns 80% of E51/1677 and 100% of ELA51/1919 and ELA51/1927 (see Image 10).

At the Amaryllis Prospect, Rumble has defined a large-scale gold-copper-silver system over 2.3km’s in strike that remains open under shallow cover (10 to 40 metres) coincident with a major north-south trending shear zone . This 2,300m of strike has only been partly tested by Rumble on wide spaced traverses. Recent regional reconnaissance exploration which involved mapping and relogging all available historic drill-holes has inferred the highly mineralised regionally extensive Amaryllis Shear zone extends over 15km to the north under cover. This priority target remains to be drill tested.

The style of mineralisation has very similar characteristics to the Chibougamau Au-Cu-Ag shear vein style deposits located in the eastern part of the Abitibi Greenstone Belt in Quebec, Canada. Of note: Chibougamau Au-Cu-Ag shear vein style deposits have produced 3.5 million oz (gold) and 1 million copper metal tonnes at an average weighted grade of 1.76% Cu and 2.05 g/t Au. Some of the deposits at Chibougamau have been mined down to 1.1km in depth.

==> picture [378 x 396] intentionally omitted <==

Image 10 – Munarra Gully Project – Location of Amaryllis Prospect over Airborne Magnetics

Next Steps

• Two planned deep RC holes beneath the Calytrix Zone, 200m apart, to approximately 250m depth are designed to provide the best coverage for DHEM

• Once RC holes completed DHEM planned to test for conductors at depth

• Aircore drill program to test possible strike extensions south and north of Amaryllis

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 11

==> picture [62 x 53] intentionally omitted <==

1.6 Fraser Range Ni-Cu-Au Projects, Fraser Range Western Australia

Rumble has a significant holding in the Albany Fraser Range Region, Western Australia with over 1,126 square kilometres of highly prospective tenure.

The Thunderstorm and Thunderdome JV Projects with IGO Limited (ASX: IGO) comprises four tenements, E28/2528, E28/2529, E28/2595 and E28/2366 (70% IGO / 30% RTR).

The Thunderbolt Project; E28/2924 and ELA28/3062, Thunderclap Project; E28/2971, E28/2972, E28/2973 and E28/2968 and Squall Project; E28/3155 are 100% owned by Rumble.

==> picture [388 x 295] intentionally omitted <==

Image 11 – Location of Rumble’s Fraser Range Projects over Magnetics.

Thunderdome JV Project (70% IGO/ 30% RTR), Fraser Range

IGO Limited’s plans for September Quarter 2021:

• Analysis of hyperspectral results from the Gazelle Prospect to determine if there are any vectors towards potential gold mineralisation.

• Ongoing high-level structural and lithological interpretation to identify potential controls to gold mineralisation.

Thunderstorm JV Project (70% IGO/ 30% RTR)

IGO Limited’s plans for September Quarter 2021:

• Data interpretation for the Thunderdome area and planning for exploration activities after heritage clearance.

Thunderbolt Project (100% RTR)

Exploration for September Quarter 2021:

• Airborne Magnetics

• Regional Soil Sampling Program

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 12

==> picture [62 x 53] intentionally omitted <==

2. Corporate

2.1 Board and Executive Appointments

Rumble appointed the highly experienced mining executive, Mr Peter Venn, as a Non-Executive Director of the Company. His most recent managerial positions have been as Managing Director of Margosa Graphite Limited, an emerging producer of vein graphite in Sri Lanka, and Chief Business Development Officer with Resolute Mining Limited

Mr Venn is a geologist with more than 32 years’ resources industry experience and achievement. He has established and led highly successful teams and been closely involved in the exploration, acquisition, evaluation, and development of more than 10 mining operations, including Syama, Golden Pride, Obotan in Africa and Ravenswood, Chalice, Higginsville, Marymia and Mertondale in Australia.

In addition, Ben Jones was appointed as Group Consultant Geologist. Ben is a highly experienced technical geologist with over 20 years specialising in advancing gold and base metal deposits in Australia. Ben held senior management positions leading teams and advancing projects from exploration through to development phase with Independence Group (ASX: IGO), Jabiru Metals Ltd (ASX: JML) and AngloGold Ashanti (ASX: AGG). Ben oversaw the re-interpretation and successful definition of over 1Moz of gold as part of the Sunrise Dam Gold Mine Underground Feasibility Study, delivered the Tropicana Gold Deposit Pre-Feasibility Study (now over 7Moz) in Western Australia, and completed the Stockman Cu-Pb-Zn deposit Pre-Feasibility Study in Eastern Victoria.

The company also appointed Mr Luke Timmermans as Senior Project Manager for the Earaheedy Zn-Pb Project, a geologist with over 10 years’ experience in the mining industry working on commodities including gold, base metals and hard rock lithium-caesium-tantalum. He has held senior geological roles with Gold Fields (JSE:GFI), Red 5 (ASX:RED) and Essential Metals (ASX:ESS). Luke was involved with the re-discovery of the King of the Hills gold deposit as a bulk mining operation and co-led a team that grew the mineral resource estimate to over 3Moz Au, and later oversaw the project through feasibility studies and into mill construction.

The Board and senior management appointments have significantly bolstered the discovery and development experience at Rumble as it rapidly advances the Earaheedy Project.

2.2 Cash and Investments

As at 30 June 2021, Rumble held $39.7 million in Cash and a further $266k in listed investments. On 28 April 2021 the Company announced a capital raising of $40,200,000 (before costs), by way of the issue of 80,400,000 new fully paid ordinary shares at $0.50 per share (“Placement”). The Placement, with Ashanti Capital Pty Ltd and Bell Potter Securities Limited acting as Joint Lead Managers, settled on 6 May 2021 and 14 July 2021.

2.3 Appendix 5b – Quarterly Cashflow

Cash outflows for the June 2021 Quarter (not including capital raising fees) totalled $2.569 million across exploration activity (67%), staff costs (7%), property (vehicle) purchases (9%), government taxes (5%) and administration and corporate costs (12%).

Cash inflows for the June 2021 Quarter totalled $40.99 million consisting of a capital raising (96%) and options exercised (4%).

2.4 Appendix 5b – Payments to related parties and their associates

Totalled $320,000 consisting of Executive and Non-Executive Directors fees and salaries, geological consulting, and superannuation payments.

2.5 Tenement Holdings – Tenement Holdings

In accordance with ASX Listing Rule 5.3, please refer to Appendix 1 for a listing of all tenement holdings.

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 13

==> picture [62 x 53] intentionally omitted <==

Authorised for release on behalf of the company by Shane Sikora, Managing Director of the Company.

For further information, please visit www.rumbleresources.com.au to view our latest corporate presentation.

Follow our communications:

Linkedin: https://www.linkedin.com/company/rumble-resources-ltd Twitter: https://twitter.com/RumbleResources

- ENDS -

About Rumble Resources Ltd

Rumble is currently firmly focussed on rapidly advancing the major Zinc-Lead ‘Tier 1’ SEDEX-variant discovery at the Earaheedy Project in Western Australia. Rumble Resources Limited is an Australian based ASX Listed exploration company with a clear strategy to generate and drill test a pipeline of projects providing the capability to make world-class discoveries on multiple projects. The company critically reviews each project against stringent criteria and has assembled a portfolio of seven highly prospective base and precious metal projects located in Tier 1 regions in Western Australia. Rumble’s board and management team has a successful track record in making discoveries and project development.

Competent Persons Statement

The information in this report that relates to Exploration Results, Exploration Targets and Mineral Resources 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.

• Additionally, the information in this report that relates to Exploration Results is extracted from the Company’s following ASX announcements: - 12 July 2021 - Rumble Consolidates 100% Ownership of the Braeside Project

• 8 July 2021 - Significant Increase of Earaheedy Mineralisation Footprint

• 2 June 2021 - Large Scale SEDEX Style System Emerging at Earaheedy Project

• 19 April 2021 - Major Zinc-Lead Discovery at Earaheedy Project

• 8 April 2021 - Drilling Update at Earaheedy Zinc-Lead-Silver Project

• 25 March 2021 - Drilling Commenced at Earaheedy Zinc-Lead-Silver Project

• 26 February 2021 - A1M:Final Results from Maiden Drilling Program at Lamil Proj

• 23 February 2021 - Drilling Expands Large-Scale Gold-Copper-Silver System

• 17 February 2021 - Multiple High-Grade Lead-Zinc-Silver Breccia Zones Discovery

• 15 February 2021 - Significant Widths of Copper at Camel Hump Prospect

• 3 February 2021 - High-Grade Gold Shoots at Western Queen South Deposit

• 28 January 2021 - A1M: Initial Results Maiden Drilling Program at Lamil Proj

• 18 December 2020 - A1M: Phase 1 Drilling Completed at Lamil Project

• 17 December 2020 - Drilling Update - Gold and Copper Projects

• 15 December 2020 - Significant Copper and Lead Discovered at Braeside Project

• 4 November 2020 - Discovery High-Grade Gold Shoots and Shear Zone Extension

• 6 October 2020 - 16m at 6.69 g/t Gold Intersected at Fraser Range

• 4 May 2020 - Higher Grade Zn-Pb in Drilling confirms Discoveries

• 23 April 2020 - Drilling Confirms Large Scale Gold-Copper-Silver System

• 17 February 2020 - High Grade Gold Discovery at the Western Queen Project

• 11 February 2020 - Large Scale Copper-Gold System Defined at Munarra Gully

• 30 January 2020 - High Priority Targets Identified - Warroo Project

• 23 January 2020 - Large Scale Zn-Pb-Ag Discoveries at Earaheedy

The Company confirms that it is not aware of any new information or data that materially affects the Exploration Results information included in the 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 Announcements.

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 14

==> picture [62 x 53] intentionally omitted <==

ANNEXURE A – WESTERN QUEEN

An updated mineral resource (Payne Geological Services Pty Ltd – Independent) was completed in January 2018. Rumble has reviewed and verified the indicated and inferred resource and estimates remaining resources beneath both mined deposits of 962,000t @ 3.9 g/t Au for 120,000oz. See previous ASX announcement dated 6th August 2019 “Option to Acquire High-Grade Western Queen Gold Project” for further details about the Project.

	Western Queen Gold Deposit	Western Queen Gold Deposit	Western Queen Gold Deposit	Western Queen Gold Deposit
	**Mineral Resource Estimate (2.0g/t Au **				cut-off)
Deposit	Indicated		Inferred			Total
	Tonnes	Au	Tonnes	Au	Tonnes	Au	Au
	t	g/t	t	g/t	t	g/t	ounces
WQ South	243,000	3.5	590,000	2.9	832,000	3.1	83,000
**WQ Central **	-	-	130,000	9.0	130,000	9.0	38,000
Total	243,000	3.5	719,000	4.0	962,000	3.9	120,000

Table 1 – Western Queen Project Resource Estimate (table subject to rounding)

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 15

==> picture [62 x 53] intentionally omitted <==

Appendix 1

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	Tenement Number	Status	Location	Beneficial Percentage Interest
Thunderstorm	E28/2528	Granted	Western Australia	30%Note 2
Thunderstorm	E28/2529	Granted	Western Australia	30%Note 2
Thunderstorm	E28/2595	Granted	Western Australia	30%Note 2
Thunderdome	E28/2366	Granted	Western Australia	30%Note 2
Thunderbolt	E28/2924	Granted	Western Australia	100%
Thunderbolt	E28/3062	Granted	Western Australia	100%
Thunderbolt	E28/3065	Granted	Western Australia	100%
Thunderclap	E28/2971	Granted	Western Australia	100%
Thunderclap	E28/2972	Granted	Western Australia	100%
Thunderclap	E28/2973	Granted	Western Australia	100%
Thunderclap	E28/3125	Application	Western Australia	100%
Thunderclap	E28/2968	Application	Western Australia	100%
Squall	E28/3155	Application	Western Australia	100%
Braeside	E45/4873	Granted	Western Australia	100%
Braeside	E45/4874	Granted	Western Australia	100%
Braeside	E45/4368	Granted	Western Australia	100%
Braeside	E45/2032	Granted	Western Australia	100%
Warroo	E45/5366	Granted	Western Australia	100%
Warroo	E45/5689	Application	Western Australia	100%
Warroo	E45/5860	Application	Western Australia	100%
Earaheedy	E69/3464	Granted	Western Australia	75%Note 1
Earaheedy	E69/3787	Application	Western Australia	100%
Earaheedy	E69/3862	Application	Western Australia	100%
Munarra Gully	E51/1677	Granted	Western Australia	80%Note 3
Munarra Gully	E51/1919	Granted	Western Australia	100%
Munarra Gully	E51/1927	Granted	Western Australia	100%
Lamil	E45/5270	Granted	Western Australia	100%Note 4
Lamil	E45/5271	Granted	Western Australia	100%Note 4
Western Queen	M59/0045	Granted	Western Australia	100%
Western Queen	M59/0208	Granted	Western Australia	100%
Western Queen	L59/40	Granted	Western Australia	100%

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 16

==> picture [62 x 53] intentionally omitted <==

Western Queen	E20/0967	Granted	Western Australia	100%
Western Queen	E59/2443	Application	Western Australia	100%

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

Project Squall Earaheedy	Tenement Number	Status	Location	Beneficial Percentage Interest
	E28/3155	Application	Western Australia	100%
	E69/3862	Application	Western Australia	100%

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

Project	Tenement Number	Status	Location	Comment

1. Earaheedy Project, Western Australia E69/3464 75% RTR / 25% Zenith Minerals

2. Fraser Range Projects, Western Australia E28/2528, E28/2529, E28/2595, E28/2366 - IGO 70% / RTR 30%

3. Munarra Gully, Western Australia E51/1677 80% / 20% Marjorie Anne Molloy

4. Lamil Project, western Australia

AIC Mines can earn 65% by spending $10 million in 5 years. Refer ASX announcement 22 July 2019.

==> picture [584 x 11] intentionally omitted <==

Rumble Resources Limited - ASX: RTR

Page | 17

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity Rumble Resources Limited ABN Quarter ended (“current quarter”) 74 148 214 260 30 June 2021

Consolidated statement of cash flows	Current quarter $A’000	Year to date (12 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Government grants and tax incentives 1.8 Other (GST) 1.9 Net cash from / (used in) operating activities	- - - - (192) (309) - 1 (1) - 12 (120)	- - - - (634) (794) - 2 (1) - 979 (18)
	(609)	(465)
2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) tenements (c) property, plant and equipment (d) exploration & evaluation (e) investments (f) other non-current assets	- - (237) (1,711) - -	- (50) (237) (6,150) - -

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 1

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (12 months) $A’000
2.2 Proceeds from the disposal of: (a) entities (b) tenements (c) property, plant and equipment (d) investments (e) 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) investing activities	- - - - - - - -	- - - 33 - - - -
	(1,948)	(6,404)
3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 3.3 Proceeds from exercise of options 3.4 Transaction costs related to issues of equity securities or convertible debt securities 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (provide details if material) 3.10 Net cash from / (used in) financing activities	39,200 - 1,784 (2,101) - - - - -	39,946 - 2,504 (2,101) - - - - (4)
	38,883	40,345
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 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)	3,337 (609) (1,948) 38,883	6,188 (465) (6,404) 40,345

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 2

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (12 months) $A’000
4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period	-	-
	39,664	39,664
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)	39,656 8 - -	3,329 8 - -
	39,664	3,337
6. Payments to related parties of the entity and their associates		Current quarter $A'000
6.1 Aggregate amount of payments to related parties and their associates included in item 1 137 6.2 Aggregate amount of payments to related parties and their associates included in item 2 183 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.		137
		183

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 3

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7. 7.1 7.2 7.3 7.4 7.5 7.6	Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 Loan facilities - - Credit standby arrangements - - Other (please specify) - - Total financing facilities - - Unused financing facilities available at quarter end - Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000
		-	-
		-	-
		-	-
		-	-
	N/A

8.	Estimated cash available for future operating activities	$A’000
8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8	Net cash from / (used in) operating activities (item 1.9) (609) (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (1,711) Total relevant outgoings (item 8.1 + item 8.2) (2,320) Cash and cash equivalents at quarter end (item 4.6) 39,664 Unused finance facilities available at quarter end (item 7.5) - Total available funding (item 8.4 + item 8.5) 39,664 Estimated quarters of funding available (item 8.6 divided by item 8.3) 17.10 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?	(609) (1,711) (2,320) 39,664 -
		39,664
	Answer: n/a
	8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
	Answer: n/a

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 4

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: n/a

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

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.

29 July 2021

Date: ...................................................................................

the Board

Authorised by: ...................................................................................

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow 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 cash flow 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.

3. 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.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 5