Rainy River Resources Ltd.
TSX VENTURE : RR

Rainy River Resources Ltd.

June 09, 2010 09:23 ET

Rainy River Intersects 128.5 g/t (4.13 oz/t) Gold Over 5.5 Metres in 433 Zone

TORONTO, ONTARIO--(Marketwire - June 9, 2010) - Rainy River Resources Ltd. (TSX VENTURE:RR) (the "Company" or "Rainy") announces high-grade gold intercepts from the 433 zone at the Rainy River Gold Project in Northwestern Ontario.

Highlights

  • 433 Zone high-grade plunge continues - 128.5 g/t (4.13 oz/t) gold over 5.5 metres
  • 76.0 g/t (2.44 oz/t) gold over 1.5 metres discovered 100 metres east of main 433 zone
  • New 433 FW zone returns 17.7 g/t (0.57 oz/t) over 1.5 metres

433 Drill Hole Extension Program

Rainy River continues to extend previously drilled holes into the deep areas of the 433 zone with encouraging results. Drill hole NR06-42E intersected 128.5 g/t (4.13 oz/t) gold over 5.5 metres, including 220.3 g/t (7.08 oz/t) gold over 3.2 metres, including 452.8 g/t (14.5 oz/t) gold over 1.5 metres approximately 500 metres below surface. This new intersection lies approximately 50 metres up-dip of an intersection of 7.6 g/t (0.24 oz/t) gold over 18.0 metres in NR08-250, including 79.5 g/t (2.56 oz/t) gold over 1.5 metres (see news release dated May 27, 2008) and further supports the presence of a high-grade corridor within the 433 zone.

Additionally, drill hole NR08-244E intersected 76.0 g/t (2.44 oz/t) gold over 1.5 metres approximately 100 metres down plunge from an intersection of 9.8 g/t (0.31 oz/t) gold over 1.5 metres in hole NR06-77E. These two intersections are significant in that they lie 100 metres east of the main 433 Zone in a previously untested area and represent a possible eastward strike extension of the zone.

Further drill results at a depth of approximately 600 metres include NR09-355E intersecting 17.7 g/t (0.57 oz/t) gold over 1.5 metres in the 433 FW (FootWall) Zone and NR06-65E intersecting 17.0 g/t (0.55 oz/t) gold over 1.5 metres in the main 433 Zone. In addition, NR10-486 demonstrated that significant upside exists in the shallow regions of the 433 Zone by intersecting 1.77 g/t (0.05 oz/t) gold over 40.5 metres, including an interval of 5.22 g/t (0.17 oz/t) gold over 7.5 metres.

Detailed assay results for all holes are located in Table 1, below. To view Drillhole Location Plan Map and Longitudinal Section please click on the following link: http://media3.marketwire.com/docs/RR0609.pdf

Commentary

"We have had great success finding and improving the continuity of high-grade gold throughout both the 433 and ODM zones," commented Garett Macdonald, Vice President of Operations. "The exploration program continues to demonstrate the potential for underground mining and we have commissioned an alternative scoping scenario to study an all underground mining operation versus a pit & underground operation. We will be aggressively pursuing a drilling and engineering program to look at both options, including the development of a decline from surface to access these high grade areas. In addition to strengthening the continuity of the deposit the drill program will also be designed to increase resources."

Western Area and RC Target Drilling Update

As part of the step-out exploration program, seven widely spaced drill holes were completed in the western area of the deposit and near the South Zone western extension. All holes intersected gold values over narrow widths as detailed in Table 1.

Qualified persons

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 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 Resources Ltd.

Rainy River Resources is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project. With over CAN$60 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 pre-feasibility 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 W. 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 fact, that address events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company 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 may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.

Table 1. Summary of Significant Results

          CORE      
    DEPTH FROM TO LENGTH GOLD    
HOLE-ID SECTION  (m)  (m)  (m) (m)  (g/t)   ZONE
NR0619E 425706 447 500.0 509.0 9.0 4.39   HW 433
INCLUDING 425706 446 503.0 506.0 3.0 8.55   HW 433
NR0638E 425715 324 386.0 387.5 1.5 1.36   HW 433
  425715 327 390.5 392.0 1.5 1.49   HW 433
  425716 357 428.0 429.5 1.5 2.23   HW 433
  425716 362 434.0 435.5 1.5 2.09   HW 433
  425718 414 500.0 501.5 1.5 1.32   HW 433
  425719 440 533.0 534.5 1.5 3.14   HW 433
NR0642E 425580 338 474.5 476.0 1.5 1.13   HW 433
  425583 362 507.5 512.0 4.5 1.86   HW 433
  425584 371 522.5 524.0 1.5 2.63   HW 433
  425586 396 558.5 561.5 3.0 3.50   HW 433
  425588 409 579.5 581.0 1.5 1.70   HW 433
  425588 416 588.5 596.0 5.5 128.53   433
INCLUDING 425588 416 588.5 591.7 3.2 220.32   433
INCLUDING 425588 415 588.5 590.0 1.5 452.82   433
  425590 430 611.0 614.0 3.0 1.90   FW 433
  425595 468 668.0 670.8 2.8 1.06   FW 433
NR0643E 425611 331 459.0 460.5 1.5 1.87   HW 433
  425618 376 525.0 526.5 1.5 2.08   HW 433
  425622 402 564.0 565.5 1.5 1.08   433
  425624 419 589.5 591.0 1.5 1.00   433
NR0646E 425707 0 491.0 492.5 1.5 3.41   HW 433
NR0649E 425556 427 546.5 548.0 1.5 1.71   HW 433
  425558 431 552.5 554.0 1.5 1.60   HW 433
  425570 484 623.0 626.0 3.0 6.85   433
INCLUDING 425570 483 623.0 624.5 1.5 12.50   433
NR0653E 425649 384 542.0 543.5 1.5 2.92   HW 433
  425654 422 599.3 600.5 1.2 2.03   433
NR0652E 425619 341 486.5 488.0 1.5 2.05   HW 433
  425630 404 578.0 581.0 3.0 1.05   HW 433
  425634 423 608.0 609.5 1.5 1.38   433
  425634 424 609.5 611.0 1.5 1.68   433
  425657 545 794.0 795.5 1.5 1.51   FW 433
NR0655E 425698 415 584.0 585.5 1.5 3.28   HW 433
  425699 440 621.5 622.6 1.1 2.64   HW 433
NR0663E 425560 538 665.0 666.5 1.5 7.63   433
NR0665E 425517 574 656.0 657.5 1.5 17.04   433
NR0667E 425457 463 511.5 513.0 1.5 1.32   HW 433
  425468 573 640.5 642.0 1.5 1.44   HW 433
  425470 586 655.5 657.0 1.5 1.11   HW 433
  425470 591 661.5 663.0 1.5 1.53   HW 433
  425473 609 682.5 684.0 1.5 1.16   433
  425479 653 736.5 738.0 1.5 1.10   FW 433
  425480 665 750.0 751.5 1.5 2.34   FW 433
  425481 668 754.5 756.0 1.5 5.46   FW 433
  425503 802 919.5 921.0 1.5 8.18   FW 433
NR0674E 425557 540 668.0 669.5 1.5 8.29   433
NR0677E 425651 399 515.0 518.0 3.0 1.60   HW 433
  425654 429 557.0 558.5 1.5 4.94   HW 433
  425657 463 605.0 606.5 1.5 1.04   HW 433
  425659 479 627.5 629.0 1.5 1.15   HW 433
  425659 500 657.5 659.0 1.5 2.62   433
  425660 522 689.0 690.5 1.5 9.82   433
NR0676E 425607 456 576.0 577.5 1.5 5.35   HW 433
  425619 561 724.5 726.0 1.5 6.76   433
NR0685E 425518 564 618.0 619.5 1.5 1.87   HW 433
  425518 568 622.5 624.0 1.5 1.27   HW 433
  425525 627 691.5 693.0 1.5 1.36   HW 433
  425529 663 732.0 735.0 3.0 1.92   433
  425537 719 799.5 801.0 1.5 1.23   FW 433
NR06131E 425430 650 729.5 731.0 1.5 1.10   433
NR07148E 425515 531 625.5 627.0 1.5 6.05   433
NR08244E 425712 397 555.5 557.2 1.7 2.39   HW 433
  425719 438 617.0 618.5 1.5 3.64   433
  425727 497 704.0 705.5 1.5 76.00   FW 433
NR08246E 425590 410 561.0 562.5 1.5 1.01   433
  425590 421 576.0 577.5 1.5 1.03   433
NR08248E 425628 294 414.3 415.2 0.9 2.19   HW 433
  425630 314 444.5 446.0 1.5 9.74   HW 433
  425631 326 461.0 462.6 1.6 2.06   HW 433
  425631 330 467.0 468.5 1.5 6.94   HW 433
  425633 356 506.0 507.5 1.5 2.36   433
  425634 383 546.5 548.0 1.5 2.35   433
  425634 387 552.5 554.0 1.5 1.03   433
  425635 404 578.0 579.5 1.5 1.96   433
NR08251E 425684 312 425.0 426.5 1.5 2.10   HW 433
  425685 315 428.0 429.5 1.5 3.55   HW 433
  425692 409 563.0 566.0 3.0 1.50   433
  425693 429 591.5 593.0 1.5 1.42   433
NR09355E 425510 390 540.5 542.0 1.5 1.07   HW 433
  425509 394 546.5 548.0 1.5 1.52   HW 433
  425450 554 801.5 803.0 1.5 17.73   FW 433
NR10486 425763 192 222.5 224.0 1.5 4.93   HW 433
  425763 223 239.0 279.5 40.5 1.77   433
INCLUDING 425763 229 263.0 270.5 7.5 5.22   433
INCLUDING 425763 227 263.0 266.0 3.0 7.77   433
NR10501 424088 179 229.0 230.5 1.5 1.04   WESTERN AREA
NR10502 424049 25 29.3 31.0 1.7 0.91   WESTERN AREA
  424049 30 35.5 37.0 1.5 0.68   WESTERN AREA
  424051 120 143.5 145.0 1.5 1.09   WESTERN AREA
  424059 198 239.5 241.0 1.5 1.48   WESTERN AREA
  424061 217 266.0 267.0 1.0 2.76   WESTERN AREA
  424074 293 370.0 371.5 1.5 3.45   WESTERN AREA
NR10503 424545 43 49.0 50.5 1.5 1.63   SOUTHWEST RC
  424553 150 182.4 184.0 1.6 1.21   SOUTHWEST RC
  424581 243 305.5 307.0 1.5 0.95   SOUTHWEST RC
NR10504 424468 84 97.0 98.5 1.5 1.14   SOUTHWEST RC
  424468 85 98.5 100.0 1.5 1.31   SOUTHWEST RC
  424454 283 340.0 341.5 1.5 1.78   SOUTHWEST RC
NR10505 424545 113 128.5 130.0 1.5 0.97   SOUTHWEST RC
NR10507 424383 63 71.5 73.0 1.5 1.87   SOUTHWEST RC
  424391 225 272.5 274.0 1.5 1.37   SOUTHWEST RC
NR10509 424897 289 380.5 382.0 1.5 0.64   NORTHERN RC

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