Rainy River Resources Ltd. (TSX VENTURE: RR) (the "Company" or
"Rainy") announces further assay results from the Rainy River Gold
Project ("RRGP") in Northwestern Ontario. These results comprise
the remaining 2010 drill campaign and include the first round of
assays from the 2011 exploration program. None of this data has
been included in the latest NI 43-101 resource estimate (3.42 M oz
Measured & Indicated, 3.17 M oz Inferred, see news release
dated February 24, 2011) for the RRGP. All results are summarized
in Table 1, below. Significant intercepts are discussed below.
To see images associated with this release please go to the
following link:
http://media3.marketwire.com/docs/rr228image.pdf.
Highlights
-- 942.6 g/t (27.5 oz/ton) gold and 54.2 g/t (1.5 oz/ton) silver over 3.0 m
in newly discovered Gap Zone between ODM and Beaver Pond Zones
-- 4.7 g/t gold over 7.5 metres in the Gap Zone
-- 2.7 g/t gold over 37.5 m in 17 Zone, including 5.0 g/t gold over 15.0 m
-- 1.4 g/t gold over 33.0 m in South Zone
-- HS Zone potential expands westward - 41.4 g/t gold over 1.5 m
ODM/17 Zone
Drilling within the ODM/17 Zone continues with efforts focused
on the gap between the western ODM and the Beaver Pond Zones
(referred to as the Gap Zone). Drill hole NR10-633 intersected
several intervals of high-grade gold mineralization, with the most
significant interval grading 942.5 g/t gold over 3.0 m, including
1,845.0 g/t gold and 99.2 g/t silver over 1.5 m and 40.1 g/t gold
and 9.1 g/t silver over 1.5 m. This intersection lies approximately
150 metres east of a previously-announced high-grade intersection
from the Beaver Pond Zone (352.8 g/t gold over 6.0 m in hole
NR09-446, see press release dated January 18th, 2010) at a similar
elevation and represents a new area for exploration. Each of these
intercepts contained notable quantities of visible gold. A second
interval within the GAP Zone, and lying approximately 15 metres
above this high-grade interval in hole NR10-633, assayed 4.7 g/t
gold over 7.5 m.
Further downhole in NR10-633 a third high-grade intersection was
discovered within the HS Zone corridor, grading 41.4 g/t gold over
1.5 m. This intersection lies approximately 400 metres west of the
main HS Zone mineralization and opens up the potential for a
western expansion of the HS Zone.
On the east side of the deposit, drill hole NR10-620 intersected
a shallow intercept in the 17 Zone grading 2.7 g/t gold over 37.5
m, including 5.0 g/t gold over 15.0 m (including 12.0 g/t gold over
1.5 m and 28.9 g/t gold over 1.5 m). This intercept lies
approximately 50 metres below the surface. Deeper within the 17
Zone drill hole PE1003 intersected 48.8 g/t gold over 1.5 m in the
hanging wall at a depth of 200 metres. Also in the ODM/17 Zone,
drill hole NR10-612 intersected a 66.0-metre wide interval grading
1.2 g/t gold, including 7.1 g/t over 1.5 m and 6.3 g/t gold over
1.5 m, at a depth of 400 metres below the surface.
South Zone & Western Area
Results from the South Zone continue to show encouraging
intercepts of gold mineralization. This area is an important
component of the 2011 exploration program, where the possibility
exists to add shallow resources for an open pit operating scenario
both to the south and along strike. Recent assay results include
1.4 g/t gold over 33.0 m in hole SZ1001, 0.6 g/t gold over 15.0 m
in NR10-612, 0.7 g/t gold over 42.0 m in NR10-619 and 1.1 g/t gold
over 9.0 m in hole NR10-625.
Grass roots exploration in a new area approximately 800 metres
northwest of the Beaver Pond Zone, termed "Western Area", has
returned encouraging results including 1.1 g/t gold over 4.5 m and
0.6 g/t gold over 22.5 m in drill hole R10-618. Hole CP1002
returned similar values, with 0.5 g/t gold over 7.5 m and 1.1 g/t
gold over 4.5 m, near surface.
Commentary
"These initial results from our 2011 drill program are an
excellent beginning to expand our resources from our recently
announced NI 43-101 resource estimate," commented Raymond
Threlkeld, President and CEO. "The area between the Beaver Pond and
ODM Zones is possibly another high-grade structural shoot, similar
to others we've seen throughout the deposit. The discovery of
gold-bearing mineralization over 800 metres along strike in the
newly discovered Western Area to the northwest of Beaver Pond opens
up significant untested exploration potential."
Qualified persons
Rainy River's exploration program in Richardson Township is
being supervised by Kerry Sparkes, P.Geo. Vice-President
Exploration, a Qualified Person as defined by National Instrument
43-101. Garett Macdonald, P.Eng., Vice President Operations and
Kerry Sparkes P.Geo. are the persons responsible for the content of
this news release. The Company continues to implement a rigorous
QA/QC program to ensure best practices in sampling and analysis of
drill core. All drill core is marked for sampling and then split in
half with a diamond saw blade. Samples are placed in sealed bags
with security tags. All samples were assayed using a standard fire
assay, 30 gram nominal sample weight with an AA finish. Over-limit
samples were re-assayed with a gravimetric finish. Samples with
visible gold were automatically analyzed for Ore Grade by 1000g
screen fire assay, with coarse and fine fractions being combined
proportionately and the fine fraction being assayed twice.
Standards, blanks and duplicates are inserted every 25 metres. ALS
Canada Ltd. performed primary assaying, with duplicates being
analyzed at Activation Laboratories Ltd. ALS Canada Ltd. and
Activation Laboratories Ltd. implements independent QA/QC protocols
that include the insertion of certified blanks and standards as
part of their routine analysis.
About Rainy River Resources Ltd.
Rainy River Resources is a Canadian precious metals exploration
company whose key asset is the Rainy River Gold Project. With over
CAN$130 million in its treasury, the Company is well funded to
conduct a dual-focused drilling program consisting of: 1)
definition diamond drilling of the main gold resources in
preparation for scoping and pre-feasibility studies, and 2)
selective diamond drill testing of high-priority gold targets
defined primarily by RC drilling within the large gold system
centered in Richardson Township. The Company's property is
extremely well located in the southwestern corner of northern
Ontario near the U.S. border. It is accessed by a network of roads
and is close to hydro-electric infrastructure. The Rainy River
district has a skilled labour force and is one of the lowest-cost
areas for mineral exploration and development. The Company is also
working to advance the early-stage discoveries at its TPK Joint
Venture Property, also in Ontario, where it can earn a 51% interest
in the property from Northern Superior Resources. Ontario has low
political risk and, according to the annual Fraser Institute global
survey of the mining industry, has consistently ranked as one of
the top jurisdictions embracing mineral development.
RAINY RIVER RESOURCES LTD.
Raymond W. Threlkeld, President & CEO
This release includes certain statements that may be deemed to
be "forward-looking statements". All statements in this release,
other than statements of historical fact, that address events or
developments that the Company expects to occur, are forward looking
statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or
"should" occur. Although the Company believes the expectations
expressed in such forward-looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results may differ materially from
those in forward looking statements. Factors that could cause the
actual results to differ materially from those in forward-looking
statements include gold prices, results of exploration and
development activities, regulatory changes, defects in title,
availability of materials and equipment, timeliness of government
approvals, continued availability of capital and financing and
general economic, market or business conditions. The Company
cautions that the foregoing list of important factors is not
exhaustive. Investors and others who base themselves on the
Company's forward-looking statements should carefully consider the
above factors as well as the uncertainties they represent and the
risk they entail. The Company believes that the expectations
reflected in those forward-looking statements are reasonable, but
no assurance can be given that these expectations will prove to be
correct. Please see the public filings of the Company at
www.sedar.com for further information.
Table 1 Summary of Results
----------------------------------------------------------------------------
Hole-ID Section Elevation From (m) To (m) Length (m) Au g/t Comments
----------------------------------------------------------------------------
CP1001 424127 54 66.5 68.0 1.5 1.1 WESTERN AREA
424124 132 165.5 167.0 1.5 1.7 WESTERN AREA
424123 177 224.0 225.5 1.5 1.1 WESTERN AREA
----------------------------------------------------------------------------
CP1002 424173 58 68.0 75.5 7.5 0.5 WESTERN AREA
424170 145 179.0 183.5 4.5 1.1 WESTERN AREA
----------------------------------------------------------------------------
PE1001 426248 94 115.3 116.0 0.7 2.3 HW 17
426260 491 594.5 600.5 6.0 3.0 EAST 17
----------------------------------------------------------------------------
PE1002 426283 508 618.5 621.5 3.0 2.0 EAST 17
426286 547 666.5 668.0 1.5 1.1 EAST 17
----------------------------------------------------------------------------
PE1003 426251 160 198.5 200.0 1.5 48.8 HW 17
----------------------------------------------------------------------------
SZ1001 425121 409 430.5 463.5 33.0 1.4 SOUTH
425165 694 778.5 780.0 1.5 1.4 ODM DEEPS
425167 701 787.5 789.0 1.5 1.1 ODM DEEPS
----------------------------------------------------------------------------
NR10612 425280 206 213.5 228.5 15.0 0.6 SOUTH
425314 489 512.0 578.0 66.0 1.2 ODM DEEPS
INCL 425312 478 531.5 533.0 1.5 7.1 ODM DEEPS
AND 425316 506 564.5 566.0 1.5 6.3 ODM DEEPS
----------------------------------------------------------------------------
NR10614 426049 68 72.0 81.0 9.0 0.9 17 ZONE
----------------------------------------------------------------------------
NR10615 426126 48 44.0 54.5 10.5 0.8 17 ZONE
----------------------------------------------------------------------------
NR10616 426147 73 85.5 114.0 28.5 0.8 17 ZONE
----------------------------------------------------------------------------
NR10618 424225 58 69.5 74.0 4.5 1.1 WESTERN AREA
424225 102 116.0 138.5 22.5 0.6 WESTERN AREA
----------------------------------------------------------------------------
NR10619 425139 386 393.0 435.0 42.0 0.7 SOUTH
425170 691 762.0 763.5 1.5 3.8 ODM DEEPS
425174 715 790.5 791.5 1.0 16.3 ODM DEEPS
----------------------------------------------------------------------------
NR10620 425243 267 62.0 99.5 37.5 2.7 17 ZONE
INCL 426150 65 71.0 86.0 15.0 5.0 17 ZONE
INCL 426150 59 71.0 72.5 1.5 12.0 17 ZONE
AND 426149 71 84.5 86.0 1.5 28.9 17 ZONE
NR10620 426149 94 111.5 113.0 1.5 1.7 17 ZONE
----------------------------------------------------------------------------
NR10621 NSA
----------------------------------------------------------------------------
NR10622 59 74.0 75.5 1.5 1.1 WESTERN AREA
----------------------------------------------------------------------------
NR10623 425924 64 69.5 74.0 4.5 0.5 HS
425922 200 216.5 243.5 27.0 0.6 HS
----------------------------------------------------------------------------
NR10624 NSA
----------------------------------------------------------------------------
NR10625 425134 346 382.5 391.5 9.0 1.1 SOUTH
----------------------------------------------------------------------------
NR10626 424479 332 417.5 419.0 1.5 2.0 WESTERN AREA
----------------------------------------------------------------------------
NR10627 NSA
----------------------------------------------------------------------------
NR10628 425926 79 93.5 95.0 1.5 1.0 HS
425926 122 146.0 147.5 1.5 1.5 HS
425926 213 257.0 258.5 1.5 4.2 433 EAST
----------------------------------------------------------------------------
NR10629 425046 451 471.0 489.3 18.3 1.0 SOUTH
425081 689 753.0 754.5 1.5 1.2 ODM DEEPS
425085 712 780.0 781.5 1.5 0.4 ODM DEEPS
425087 722 792.0 793.5 1.5 1.8 ODM DEEPS
425087 727 798.0 799.5 1.5 1.3 ODM DEEPS
----------------------------------------------------------------------------
NR10630 425900 50 57.5 63.5 6.0 1.2 HS
425900 68 80.0 84.5 4.5 2.1 HS
----------------------------------------------------------------------------
NR10631 424425 74 93.3 95.0 1.7 1.4 WESTERN AREA
----------------------------------------------------------------------------
NR11632 425948 60 74.0 75.5 1.5 1.2 HS
425944 148 186.5 188.0 1.5 1.5 FW 433
----------------------------------------------------------------------------
NR11633 425033 152 189.0 190.5 1.5 1.4 HW GAP
425031 189 235.5 243.0 7.5 4.7 THE GAP
INCL 425031 190 238.5 240.0 1.5 17.3 THE GAP
425030 205 256.5 259.5 3.0 942.6 THE GAP
INCL 425030 204 256.5 258.0 1.5 1845.0 THE GAP
AND 425030 205 258.0 259.5 1.5 40.1 THE GAP
425026 262 333.0 334.5 1.5 2.5 FW GAP
425020 343 442.5 444.0 1.5 41.4 HS
425018 384 499.3 501.0 1.7 5.2 HS
----------------------------------------------------------------------------
NR11634 425019 61 69.0 70.5 1.5 1.2 HW CAP
425018 87 102.0 103.5 1.5 1.5 HW CAP
----------------------------------------------------------------------------
NR11635 425019 426 522.0 523.5 1.5 1.4 HW ODM GAP
425023 471 580.5 582.0 1.5 1.9 HW ODM GAP
425026 508 604.5 657.0 52.5 1.1 ODM DEEP GAP
INCL 425024 489 604.5 606.0 1.5 10.1 ODM DEEP GAP
----------------------------------------------------------------------------
NR11638 425631 129 158.0 159.5 1.5 1.2 433 WEST
425634 182 218.0 230.0 12.0 0.8 433 FW
----------------------------------------------------------------------------
The TSX Venture Exchange has not reviewed and does not accept
the responsibility for the adequacy or accuracy of this news
release.
Contacts: Rainy River Resources Ltd. Liz Caridi Director of
Investor Relations and Corporate Governance (604) 639-4497
lcaridi@rainyriverresources.com www.rainyriverresources.com
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