Rainy River Resources Ltd.
TSX VENTURE : RR

Rainy River Resources Ltd.

January 21, 2008 04:00 ET

Rainy River Reports Results of 11 Drill Holes Completed Prior to Holiday Period (2007) in Richardson Twp., Northwestern Ontario

NR07-198 (Cap Trend) Intersects 12.0 M Grading 8.93 g/t Au, 75.34 g/t Ag NR07-207 (ODM Zone) Intersects 9.0 M Grading 9.06 g/t Au

VANCOUVER, BRITISH, COLUMBIA--(Marketwire - Jan. 21, 2008) - Nelson W. Baker, President and CEO of Rainy River Resources Ltd. (TSX VENTURE:RR) ("Rainy"), is pleased to report the drill results for 11 of the 15 holes completed prior to the holiday period in Richardson Township, 80 km south of Kenora, in northwestern Ontario. The final results for the remaining four holes completed in 2007 are pending. Of the 11 holes reported in this release, two holes were infill for the 17 Zone and eight were infill for the ODM Zone; also included are final results for the entire Cap Trend intersection in the upper part of hole NR07-198, the deepest hole on the property to date. Partial results for this intersection were reported in a previous release dated November 5, 2007 (www.rainyriverresources.com). Results for the deeper part of the hole are still pending.

All 11 holes returned consistent gold values with the best intersection, in NR07-207 at the 350 m level of ODM Zone, grading 2.37 g/t Au over 43.5 metres including a higher grade interval of 9.06 g/t Au over 9.0 metres. In NR07-198, the Company previously announced a 4.0-metre wide semi-massive sulphide interval grading 25.67 g/t Au and 184.14 g/t Ag occurring within a broader, 12.0 metre wide mineralized zone (Cap Trend). The Company is pleased to report that the 12.0 metre interval graded 8.93 g/t Au and 75.34 g/t Ag.

The details of all intervals for the 11 holes are highlighted in Table 1 below. The location of all holes is included in a revised longitudinal section posted on the Company's website www.rainyriverresources.com.

During 2007, the Company completed 79 drill holes totalling 41,376.4 metres in Richardson Township of which a total of 69 holes totalling 37,681.9 metres were drilled to define the 17/ODM Zone. The Company is planning on releasing a NI43-101 compliant mineral resource estimate for the 17/ODM Zone shortly. There are four drill rigs on site and drilling is expected to resume today with two rigs on the 17 Trend, one on the Cap Trend and the other on the 433 Trend. A total of 45,000 metres of drilling is planned for 2008 to expand the 17/ODM deposit and to define the Cap Trend and the 433 Trend which appear to be stratigraphically stacked gold-rich horizons above and below the deposit.

The Quality Assurance and Quality Control (QA/QC) procedures followed by the Rainy River technical team are described in detail on it 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
ODM ZONE - SUMMARY OF MAIN INTERSECTIONS
NR06-196, 197, 199, 200, 202, 205, 206, 207

NR07-196 dip -61 depth 250 metres (110 metres west of NR07-153)

2 gold zones intersected

------------------------------------------------------
From To Length g/t
(m) Au
------------------------------------------------------
Zone 1 264.0 266.3 2.3 1.58
------------------------------------------------------
Zone 2 360.0 387.5 27.5 1.31
------------------------------------------------------
Incl. 363.5 365.0 1.5 10.63
------------------------------------------------------
Incl. 386.0 387.5 1.5 8.77
------------------------------------------------------

NR07-197 dip -61 depth 404 metres (60 metres west of NR07-196)

1 gold zone intersected

------------------------------------------------------
From To Length g/t
(m) Au
------------------------------------------------------
Zone 1 273.5 332.0 21.0 0.97
------------------------------------------------------
Incl. 327.5 330.5 3.0 4.51
------------------------------------------------------

NR07-199 dip -71 depth 650 metres (above 300 m level)

2 gold zones intersected

------------------------------------------------------
From To Length g/t
(m) Au
------------------------------------------------------
Zone 1 21.0 28.0 7.0 1.53
------------------------------------------------------
Zone 2 485.0 522.5 37.5 0.95
------------------------------------------------------
Incl. 517.1 521.0 3.9 5.47
------------------------------------------------------

NR07-200 dip -71 depth 849 metres (60 metres east of NR07-194)

2 gold zones intersected

------------------------------------------------------
From To Length g/t
(m) Au
------------------------------------------------------
Zone 1 150.1 160.5 10.4 1.04
------------------------------------------------------
Zone 2 576.8 586.5 9.7 2.44
------------------------------------------------------
Incl. 576.8 582.0 5.2 3.77
------------------------------------------------------

NR07-202 dip -61 depth 599.0 metres (60 metres north of NR07-153)

3 gold zones intersected

------------------------------------------------------
From To Length g/t
(m) Au
------------------------------------------------------
Zone 1 299.0 306.5 7.5 1.45
------------------------------------------------------
Zone 2 441.5 448.0 6.5 0.83
------------------------------------------------------
Zone 3 500.0 503.0 3.0 2.34
------------------------------------------------------

NR07-205 dip -61 depth 398 metres (60 metres west of NR07-202)

1 gold zone intersected

------------------------------------------------------
From To Length g/t
(m) Au
------------------------------------------------------
Zone 1 279.5 305.0 25.5 0.69
------------------------------------------------------
Incl. 291.5 294.5 3.0 3.26
------------------------------------------------------

NR07-206 dip -71 depth 197.0 metres (60 metres south of NR07-177)

3 gold zones intersected

------------------------------------------------------
From To Length g/t
(m) Au
------------------------------------------------------
Zone 1 481.5 547.0 65.5 0.70
------------------------------------------------------
Incl. 505.2 508.5 3.3 3.83
------------------------------------------------------
Zone 2 775.5 796.5 21.0 0.55
------------------------------------------------------
Incl. 792.0 796.5 4.5 1.25
------------------------------------------------------

NR07-207 dip -61 depth 501 metres (350 m level)

1 gold zone intersected

------------------------------------------------------
From To Length g/t
(m) Au
------------------------------------------------------
Zone 1 266.0 309.5 43.5 2.37
------------------------------------------------------
Incl. 276.5 285.5 9.0 9.06
------------------------------------------------------
Incl. 276.5 282.5 6.0 13.23
------------------------------------------------------


17 ZONE-SUMMARY MAIN INTERSECTIONS
NR07-195,201

NR07-195 dip -71 depth 287 metres (30m west NR07-161)

1 gold zone intersected

------------------------------------------------------
From To Length g/t
(m) Au
------------------------------------------------------
Zone 1 386.0 398.0 12.0 2.04
------------------------------------------------------
Incl. 388.0 391.0 3.0 3.35
------------------------------------------------------

NR07-201 dip -71 depth 602 metres (30 m south NR07-190)

2 gold zones intersected

------------------------------------------------------
From To Length g/t
(m) Au
------------------------------------------------------
Zone 1 116.0 141.5 25.5 1.44
------------------------------------------------------
Zone 2 494.0 570.0 76.0 1.21
------------------------------------------------------


CAP TREND-SUMMARY OF MAIN INTERSECTION
NR07-198 (upper part)

NR07-198 dip -80 depth 1656.8 metres (100 m west of NR07-121)

------------------------------------------------------
From To Length g/t g/t
(m) Au Ag
------------------------------------------------------
Cap 486.5 498.5 12.0 8.93 75.34
------------------------------------------------------
Incl.(ii) 494.5 498.5 4.0 25.67 184.14
------------------------------------------------------
Note: (ii) this interval was previously released November 05, 2007


All drill holes quoted in the table were drilled at an azimuth of 359 degrees and all intersected widths are considered to be true widths.

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, including 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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