Rainy River Resources Ltd.

Rainy River Resources Ltd.

March 11, 2009 08:01 ET

Rainy River Discovers Another Strong Gold Zone With Drill Hole NR09-329 Testing RC Target 1 800 Metres Southwest of Main Gold Resource

NR09-329 intersects 29.2 metres grading 2.35 g/t Au (uncut) including two higher grade intervals of 7.5 metres grading 5.46 g/t and 3.7 metres grading 5.69 g/t

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 11, 2009) - Rainy River Resources Ltd. (TSX VENTURE:RR) is pleased to report that Hole NR09-329, the first diamond drill hole designed to test Target 1 identified in last year's reverse circulation (RC) drilling program, intersected a wide interval of strong gold values. Significant results include two intercepts 13 m apart of 7.5 m grading 5.46 g/t Au and 3.7 m grading 5.69 g/t Au within a broader 29.2 m interval grading 2.35 g/t Au. Right angle foliations observed in the core suggest that the mineralized intervals are close to true width. Details of these intervals are highlighted in Table 1, below.

Target 1 is a high-priority gold-in-till anomaly overlying the broadly auriferous (600 ha) caldera complex in Richardson Township 55 km northwest of Fort Frances, Ontario. The anomaly appears to originate under an area 800 m southwest of and stratigraphically above the ODM/17 Zone. The area has not previously been diamond drilled.

Hole NR09-329 tested the western edge of the gold-in-till anomaly. The gold intersection occurs too far down-hole to be readily explained by the till anomaly and appears instead to be related to the BP Zone which was discovered in 2006 and lies west along strike from the ODM/17 Zone. A surface plan illustrating these relationships has been posted on the Company's website www.rainyriverresources.com. The discovery represents a large new exploration target and two of the three drill rigs presently active in Richardson Township have now been dedicated to evaluating it.

This new discovery represents an important event for the Company. Management is very encouraged that the 600 hectare mineralized system continues to deliver such discoveries near surface as the Company moves away from the known resources. The grade of these discoveries appears to be higher than that of the ODM/17 Zone, the Company's original discovery. As well, with the mineralized caldera block originally being horizontal and now tilted, the gold potential does not diminish with depth.

Table 1

Core Vertical
From To Length Au Depth
Hole (m) (m) (m) g/t Zone (m)
NR-09-329 437.0 466.2 29.2 2.35 BP 400
Incl. 441.5 449.0 7.5 5.46 upper
Incl. 461.0 466.2 3.7 5.69 lower

Note: All intersected widths in Table I are estimated to be near
true width intervals and gold values listed above are uncut.

Details on the current mineral resource are available in the April 2008 Technical Report posted on SEDAR (www.sedar.com) and on the Company's website shortly www.rainyriverresources.com.

Rainy River's exploration program in Richardson Township is being supervised by Stuart Averill, P.Geo., Vice-President Exploration and is being managed by Wally Rayner, P.Geo., Project Manager, both Qualified Persons within the meaning of National Instrument 43-101. The Company's regional exploration manager, C.J. Baker, M.Sc., is managing the Company's Off Lake exploration program 15 km to the northeast. 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 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 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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