Rainy River Resources Ltd.
TSX VENTURE : RR

Rainy River Resources Ltd.

September 19, 2005 09:00 ET

Rainy River Closes $2.4 Million Non-Brokered Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 19, 2005) - Charles Raymond, Chairman of Rainy River Resources Ltd. (TSX VENTURE:RR), is pleased to announce that the Company has closed the non-brokered private placement previously announced on July 19, 2005. The Company has raised gross proceeds of $2,400,000 through the sale of a total of 4,000,000 units at $0.60 per unit. Each unit consists of one common share and one non-transferable share purchase warrant with each warrant entitling the holder to purchase one additional common share at $0.90 until March 16, 2007. All of the securities will be subject to a 4-month hold period until January 17, 2006.

The Company paid a finders fee of $168,000 (7%) in connection with the non-brokered private placement.

Net proceeds of the financing will be used to fund exploration on the Company's Rainy River Project and for general working capital purposes.

Rainy River Resources Ltd. is a Canadian mineral exploration company that has acquired a 100% interest from Nuinsco Resources Ltd. (TSX:NWI) in the Rainy River gold and base metal property located in northwestern Ontario. The Rainy River Project presently hosts two "blind" gold deposits and one small but high grade "blind" Ni-Cu-PGE deposit. The Company believes the potential to discover other "blind", Bousquet-style gold deposits within the property to be high.

ON BEHALF OF THE BOARD OF DIRECTORS OF RAINY RIVER RESOURCES LTD.

Charles M. Raymond, Chairman of the Board


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

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