Rainy River Resources Ltd.
TSX VENTURE : RR

Rainy River Resources Ltd.

April 23, 2007 13:38 ET

Rainy River Appoints Dale C. Peniuk, CA to Board

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 23, 2007) - Charles Raymond, Chairman of Rainy River Resources Ltd. (TSX VENTURE:RR), is pleased to announce that Dale C. Peniuk has been appointed to the Company's Board of Directors, effective April 20, 2007. Mr. Peniuk holds a B.Comm from the University of British Columbia and is a Chartered Accountant.

Since early-2006, Mr. Peniuk has been providing financial consulting services to a number of mining companies and currently serves on the board and as Audit Committee Chair of Lundin Mining Corporation and Corriente Resources Inc., both of which are listed on the TSX in Canada and AMEX in the United States. Until February 2006, Mr. Peniuk was an assurance partner with KPMG's Vancouver office specializing in the mining area and the leader of KPMG's Vancouver office mining industry group.

In addition to his mining industry and auditing background, Mr. Peniuk has extensive experience assisting Canadian and foreign companies to register their securities in Canada, the United States and elsewhere and has been actively involved in the corporate finance area for his clients, including assistance with financings, due diligence on potential merger and acquisition opportunities and divestiture transactions.

Charles Raymond stated, "We are delighted that Dale has agreed to join the Rainy River Board. In addition to his financial acumen, his extensive experience in the mining sector will be invaluable to the Company going forward."

In connection with his appointment, the Company has granted to Mr. Peniuk options to acquire 200,000 common shares of the Company at a price of CAD$4.70 for a period of two years.

Mr. Peniuk's appointment to the board is subject to regulatory approval.

In addition to the grant of stock options to Mr. Peniuk, the board has granted an additional 325,000 Director Stock Options to other Board members at a price of CAD$4.70 for a period of two years.

Charles M. Raymond, Chairman

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

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