Rainy River Resources Ltd.

Rainy River Resources Ltd.

March 18, 2009 10:01 ET

Rainy River Cancels 725,000 Director Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2009) - Rainy River Resources Ltd. (TSX VENTURE:RR) announces that options to acquire an aggregate of 725,000 common shares with exercise prices ranging from $4.12 to $5.25 held by certain directors of the Company have been voluntarily surrendered for cancellation.

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 a $26.5 million treasury, the Company is well funded to conduct a dual-focused program consisting of: 1) definition diamond drilling of the main gold resource with accompanying scoping-style 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 northwestern 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.

Nelson W. Baker, President

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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