Rainy River Resources Ltd.
TSX VENTURE : RR

Rainy River Resources Ltd.

January 29, 2008 04:00 ET

433 Zone Drilling Update; Rainy Records Another Impressive Gold Intersection

51.0 m grading 3.78 g/t Au including 5.3 m grading 30.39 g/t Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2008) - Nelson W. Baker, President and CEO of Rainy River Resources Ltd. (TSX VENTURE:RR) is pleased to report an impressive gold intersection in NR07-212, a hole drilled to test the down dip and plunge extension of the 433 Zone along a parallel gold horizon which lies approximately 400 metres north of and stratigraphically below the ODM/17 Gold Trend. Hole NR07-212, as detailed in Table 1 below, has the best grade and thickness discovered in the 433 Zone to date returning a 51.0 metre interval grading 3.78 g/t Au including an impressive continuous section of 5.3 metres grading 30.39 g/t Au. Hole NR07-210, also testing the 433 Zone and spotted 60 m east of NR07-212 was successful in intersecting 25.5 metres grading 1.30 g/t Au including a 9.0 metre interval grading 2.17 g/t Au.

Of special note, abundant coarse visible gold occurring parallel to the foliation and in cross-cutting fracture fillings was logged in hole NR07-218 (in progress) in two separate locations down the hole (at 306 m and 324 m). This hole is located 60 m south and 60 m west of NR07-212. A photo of one of the visible gold sections will be posted on the Company's website www.rainyriverresources.com. It should be noted that NR07-218 is in progress and no assays have been received to date on this hole. The Company will release assays upon immediate receipt from the analytical laboratory. Until such formal assay results are available the Company is not able to provide any definitive comment as to the quantity or grade of mineralization on the subject hole.

The above holes are part of an 18-hole winter program on the 433 Zone consisting of two parallel, westerly striking fences of holes spaced 60 m apart designed to define a segment of the zone over a 250-m strike length. This area, during the spring and summer period, is wet and swampy and, as a result, has not been previously drill tested. A longitudinal section for the 433 Zone showing the location of the planned holes will be posted on the Company's website www.rainyriverresources.com later this week.

None of the eighteen holes, including NR07-210 and NR07-212, are part of the upcoming resource estimate, to be released shortly, which is primarily for the ODM/17 Zone. Four drill rigs, two on the 433 Zone and the other two on the Cap Trend, continue to explore the project's unusually large gold system.

The Quality Assurance and Quality Control (QA/QC) procedures followed by the Rainy River technical team are described in detail on its website at http://www.rainyriverresources.com/s/QualityControl.asp. Nelson W. Baker, P.Eng., is the Qualified Person for the Rainy River Project and the person responsible for the contents of this news release.

About Rainy River Resources Ltd.

Rainy River is a Canadian precious metals exploration company whose key asset is the Rainy River gold project. With a $39 million treasury, the Company is well funded to conduct an aggressive year round resource definition drilling program and regional drill testing of priority targets. Rainy River is extremely well located in western Ontario where it is accessed by a network of roads, and is close to hydro-electric infrastructure. Ontario is 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 that embraces mineral development.

Nelson W. Baker, President



TABLE 1
433 ZONE - SUMMARY OF MAIN INTERSECTIONS
NR07-210, NR07-212


NR07-210 dip -63, depth 401 metres
(70 metres southwest of NR07-154)
1 gold zone intersected
-----------------------------------------
Length g/t
From To (m) Au
-----------------------------------------
Zone 1 218.0 243.5 25.5 1.30
-----------------------------------------
Incl. 219.5 228.5 9.0 2.17
-----------------------------------------


NR07-212 dip -61 depth 449 metres
(60 metres west of NR07-210)
1 gold zone intersected
-----------------------------------------
Length g/t
From To (m) Au
-----------------------------------------
Zone 1 204.5 255.5 51.0 3.78
-----------------------------------------
Incl. 219.5 234.5 15.0 11.37
-----------------------------------------
Incl. 221.0 226.3 5.3 30.39
-----------------------------------------

All holes are drilled at a 359 azimuth
and all intersected widths quoted are
estimated to be true widths.

All gold intervals are uncut values.


This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.

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