Rainy River Resources Ltd.

Rainy River Resources Ltd.

September 09, 2008 07:00 ET

New High Grade Gold Discovery for Rainy River

Wildcat Step-Out Drill Hole 700 Metres East of 433 Zone Intersects Three (3) Strong Gold Intervals Near Surface

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 9, 2008) - Nelson W. Baker, President and CEO of Rainy River Resources Ltd. (TSX VENTURE:RR) is pleased to report that the Company has added a seventh (7th) gold discovery on its 100%-owned Richardson Township land package located in northwestern Ontario. Importantly, the new gold zone lies outside the previously interpreted eastern margin of the main caldera anomaly, one of Canada's largest gold footprints.

The Company has received the final results for hole NR08-280, an aggressive 700-metre step-out east of any historical drilling on the property. This hole unexpectedly intersected three (3) wide, multi-gram gold intervals near-surface, one of which spanned 79.5 metres. The best mineralized gold intervals, listed downward from the top of the hole, were 2.97 g/t Au (uncut) over 4.5 m, 2.02 g/t Au (uncut) over 79.5 m including 4.88 g/t Au (uncut) over 17.0 m, and 12.17 g/t Au (uncut) over 5.2 m. It is estimated from right angle foliations observed in the core that the gold intervals are close to true widths.

The strong gold values intersected in NR8-280 occur within highly altered dacitic tuff breccias carrying an average of 3-5% pyrite with minor chalcopyrite mineralization. The details of all intervals for NR08-280 are highlighted in Table I below and the hole location will be posted on the Company's website www.rainyriverresources.com.

Of the four (4) drill rigs active on site, one rig has been dedicated to defining the limits of this new gold discovery, one to the Cap Zone area, one to the eastern extension of the HS Zone and the fourth to testing two high-priority targets recently defined by reverse circulation (RC) drilling south of the Beaver Pond Zone and west of the 433 Zone. The second hole to test the new discovery, NR08-288, has been collared 120 metres south of NR08-280 and is designed to intersect the three gold intervals at approximately 100 metres further down dip. Future drill holes (all drilled south to north) will be collared 60 metres apart both east and west of NR08-280.

Says Nelson Baker: "This near-surface gold discovery represents a significant new event for Rainy River. The enlarged gold footprint further demonstrates the unusual gold potential of this exciting property."

Rainy River's exploration program is being managed by Project Manager, Wally Rayner, P.Geo., a Qualified Person within the meaning of NI 43-101. C.J. Baker, M.Sc., the Company's regional exploration manager, is responsible for supervising the Off Lake area exploration program. Nelson W. Baker, P.Eng., is the Qualified Person for the project and the person responsible for the contents of this news release. The Company has implemented a rigorous QA/QC program to ensure best practices in sampling and analysis of drill core. The procedures of the QA/QC program are detailed on Rainy River's website at www.rainyriverresources.com.

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 approximately $34 million treasury, the Company is well funded to conduct an aggressive, year-round resource definition drilling program and regional drill testing of high-priority gold targets. The Company's property is extremely well located in western 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. 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.

Nelson W. Baker, President

Table I

Hole From To Width Au
(m) (m) (m) (g/t)
NR08-280 83.0 87.5 4.5 2.97 upper
143.0 222.5 79.5 2.02 main

Including 150.0 167.0 17.0 4.88
194.8 200.0 5.2 12.17 lower
Note: All intersected widths are estimated to be true width
intervals and all gold values listed above are uncut.

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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