Rainy River Resources Ltd.
TSX VENTURE : RR

Rainy River Resources Ltd.

October 19, 2010 08:00 ET

Rainy River Announces Infill Drill Results, Including 25.1 g/t Gold (0.73 oz/ton) Over 4.0 Metres in 433 Zone

TORONTO, ONTARIO--(Marketwire - Oct. 19, 2010) - Rainy River Resources Ltd. ("Rainy River" or the "Company") (TSX VENTURE:RR) is pleased to announce drill results from the Rainy River Gold Project in Northwestern Ontario. 

Highlights

  • Infill results from both ODM and 433 zones demonstrate increased continuity and grade upside

  • 25.1 g/t gold over 4.0 metres, including 96.3 g/t over 1.0 metre in 433 zone

  • 1.64 g/t over 49.5 metres at shallow depth in 433 zone

  • 2.0 g/t over 69.0 metres in ODM zone, including 27.1 g/t over 1.5 metres

  • Cap zone shows exploration upside with 8.49 g/t over 1.5 metres

Infill drill program

The 40,000 metre infill drilling program at the Rainy River Gold Project continues to intersect excellent grades and widths of gold mineralization in the ODM and 433 Zones. The Company has 7 drill rigs active on the infill program with completion expected in late November. Information gained from this work, combined with new data from ongoing metallurgical and structural studies, will be used to supplement existing assay data to produce an updated NI 43-101 resource estimate and technical report expected in early 2011. Results for 26 infill holes are shown in Table 1, below.

To view the maps associated with this release, please visit: http://media3.marketwire.com/docs/rr-maps.pdf.

433 Zone results

Infill drilling in the 433 Zone returned both high grade gold over narrow widths and wide intervals of lower grade mineralization near surface. Diamond drill hole NR10-533 intersected 25.1 g/t gold over 4.0 metres, including 96.3 g/t gold over 1.0 metre at a depth of 265 metres. In addition, hole NR10-561 intersected an interval grading 6.3 g/t gold over 4.5 metres, including 15.2 g/t gold over 1.5 metres. Drill hole NR10-542 also returned a high grade intercept in the zone, with 32.5 g/t gold over 1.5 metres approximately 370 metres below surface. Infill drilling in the shallow depths of the zone also returned good results with NR10-538 intersecting a 49.5 metre wide interval grading 1.64 g/t gold at a depth of 95 metres below surface.

In the footwall of the 433 Zone, several drill holes intersected gold mineralization including NR10-536 with 5.78 g/t gold over 1.5 metres, NR10-537 with 6.46 g/t gold over 1.5 metres and 5.13 g/t gold over 1.5 metres, and NR10-552 with 7.23 g/t gold over 1.5 metres. The mineralization in the footwall of the 433 Zone represents a new zone with significant exploration potential. 

ODM Zone results

Infill drilling within the ODM Zone continues to show the presence of higher grade mineralization within a structural corridor plunging to the southwest and good widths of mineralization near surface. Drill hole NR10-557 intersected 1.69 g/t gold over 28.5 metres approximately 250 metres below surface. On the western edge of the ODM Zone, several drill holes returned high grade intersections including hole NR10-527 which returned 18.9 g/t gold over 1.5 metres. This hole is significant as it lies 145 metres down plunge from hole NR09-399 which intersected 5.31 g/t gold over 34.6 metres, including 4.6 metres of 12.76 g/t gold and 4.5 metres of 25.3 g/t gold (see press release dated 12-1-2009) and demonstrates that the ODM zone remains open at depth. Other notable intersections within the ODM zone include drill hole NR10-547 (69.0 metres of 2.0 g/t gold including 6.0 metres grading 4.7 g/t gold and 1.5 metres grading 27.3 g/t gold) and NR10-554 (8.7 g/t gold over 1.5 metres and 19.3 g/t over 1.5 metres). 

On the east side of the ODM zone, the infill results suggest potential to expand the deposit towards the 17 zone and at depth. In this area drill hole NR10-560 intersected 5.6 g/t gold over 3.0 metres. Approximately 100 metres deeper, or 600 metres below surface, drill hole NR10-546 returned good values including 10.99 g/t gold over 1.5 metres and 6.15 g/t gold over 1.5 metres.

Cap Zone

Collaring of the longer infill holes in some cases was done within the Cap/South Zone. Assay results from shallow depths indicate good potential to expand this zone with a more thorough exploration program later in 2010. Significant results include hole NR10-551 intersecting 8.49 g/t gold over 1.5 metres at a depth of 63 metres and NR10-560 returning 1.40 g/t gold over 7.5 metres at a depth of 68 metres. 

Commentary

"The latest results from the infill program are very encouraging and provide important information for the upcoming resource estimate update," commented Raymond Threlkeld, President and CEO. "The Company plans to follow up on the infill program and resource estimate with an advanced exploration program, including the excavation of underground workings for bulk sample collection and underground diamond drilling, in 2011."

Qualified persons

Rainy River's exploration program in Richardson Township is being supervised by Stuart Averill, P.Geo. Vice-President Exploration, a Qualified Person as defined by National Instrument 43-101. Garett Macdonald, P.Eng., is the person 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. The procedures of the QA/QC program are detailed on Rainy River's website at www.rainyriverresources.com.

About Rainy River

Rainy River is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project. With approximately $75 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 prefeasibility 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. 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 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 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.

Table 1: Summary of Results
 
Hole Section Vertical depth (m) From (m) To (m) Length (m) Au g/t Area/ Zone
NR10-529 425742 -138 171.0 179.0 8.0 0.94 FW 433
NR10-536 425770 -136 117.5 156.5 39.0 0.69 433
  425770 -211 212.5 214.0 1.5 5.78 FW 433
NR10-537 425749 -132 120.5 155.0 34.5 0.49 433
  425749 -175 182.0 183.5 1.5 6.46 FW 433
  425749 -181 188.0 189.5 1.5 5.13 FW 433
NR10-538 425824 -94 78.5 128.0 49.5 1.64 433
  INCL 425824 -111 117.5 125.0 7.5 4.76 433
  INCL 425824 -108 117.5 119.0 1.5 13.19 433
NR10-541 425800 -115 99.5 141.5 42.0 0.76 433
NR10-542 425554 -366 369.5 371.0 1.5 32.46 433
NR10-543 DIKED OUT 433
NR10-544 425633 -355 369.5 371.0 1.5 4.09 433
NR10-549 425649 -338 323.5 356.0 32.5 0.60 433
NR10-550 425679 -271 284.0 303.5 19.5 0.60 433
NR10-552 425634 -347 342.5 362.0 19.5 0.84 433
  425638 -430 437.0 438.5 1.5 7.23 433 FW
NR10-553 425700 -183 186.5 197.2 10.7 0.95 HW 433
  425701 -220 228.5 231.5 3.0 4.77 HW 433
  425702 -265 277.0 281.0 4.0 25.08 433
  INCL 425702 -264 277.0 278.0 1.0 96.26 433
NR10-561 425684 -375 375.5 380.0 4.5 6.26 433
  INCL 425684 -374 375.5 377.0 1.5 15.23 433
NR10-562 425633 -389 377.0 405.1 28.1 0.92 433
NR10-525 425067 -626 697.5 720.0 22.5 0.77 ODM
NR10-526 425078 -327 358.5 360.0 1.5 3.38 SOUTH
  425127 -628 721.5 732.0 10.5 0.50 ODM
NR10-527 425064 -670 753.0 780.0 27.0 2.20 ODM
  425061 -659 753.0 754.5 1.5 18.85 ODM
NR10-545 425336 -403 437.0 471.5 34.5 1.08 ODM
NR10-546 425527 -156 160.5 168.0 7.5 0.54 CAP
  425553 -539 582.0 583.5 1.5 10.99 ODM
  425556 -573 619.5 621.0 1.5 6.15 ODM
NR10-547 425294 -336 333.0 402.0 69.0 2.01 ODM
  INCL 425292 -314 339.0 345.0 6.0 4.71 ODM
  AND 425296 -352 385.5 387.0 1.5 27.31 ODM
NR10-551 425575 -63 66.0 67.5 1.5 8.49 CAP
  425589 -492 526.5 528.0 1.5 3.88 ODM
NR10-554 425275 -184 196.5 198.0 1.5 8.69 ODM
NR10-554 425275 -196 210.0 211.5 1.5 19.28 ODM
NR10-555 425351 -157 150.0 186.0 36.0 0.73 ODM
NR10-556 425323 -159 168.0 169.5 1.5 10.52 ODM
  425322 -179 189.4 190.5 1.1 18.68 ODM
  425322 -203 205.5 225.0 19.5 0.83 ODM
NR10-557 425279 -232 240.0 268.5 28.5 1.69 ODM
  INCL 425278 -222 243.0 244.5 1.5 6.90 ODM
  AND 425279 -228 249.0 250.5 1.5 7.28 ODM
NR10-560 425574 -68 69.0 76.5 7.5 1.40 CAP
  425588 -444 482.0 485.0 3.0 5.53 ODM

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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