Rainy River Resources Ltd.
TSX VENTURE : RR

Rainy River Resources Ltd.
Northern Superior Resources Inc.
TSX VENTURE : SUP

Northern Superior Resources Inc.

September 15, 2010 08:30 ET

Rainy River and Northern Superior Report RC Drilling Progress and High-Grade Boulder Discoveries at TPK

TORONTO, ONTARIO--(Marketwire - Sept. 15, 2010) - Rainy River Resources Ltd. (TSX VENTURE:RR) ("Rainy River") and Northern Superior Resources Inc. (TSX VENTURE:SUP) ("Northern Superior") (together, the "Companies") are pleased to announce the following progress on their TPK Joint Venture project 190 km northeast of Pickle Lake in Northern Ontario.

Highlights:

  • Boulder prospecting yields numerous large mineralized boulders including two grading 42 g/t gold and 48 g/t gold
  • 76 of 99 reverse circulation drill holes completed to define gold-in-till anomalies
  • Prospecting indicates system may be a set of shear zones, similar to the Larder Lake-Cadillac Break (Val d'Or - Malartic districts)

RC Drilling

The TPK property is almost devoid of bedrock outcrop. Consequently, till sampling by reverse circulation (RC) drilling is required to identify the locations of the individual gold zones responsible for the strong, 7 x 7 kilometre gold grain anomaly previously identified by Northern Superior's surface till sampling (see www.nsuperior.com). A 99-hole Phase 2 RC drilling program is currently underway. This program is designed to: (a) infill at 100 to 200 m spacing the four strong gold + arsenopyrite anomalies identified in Northern Superior's preliminary winter RC drilling campaign on the northeastern half of the surface gold grain anomaly (see Northern Superior's June 15, 2010 news release); and (2) assess the undrilled southwestern half of the surface anomaly.

To date, 76 of the 99 planned holes have been completed. Detailed gold grain counts and assay-ready heavy mineral concentrates containing both the gold grains and sulphide-associated gold are being prepared from the till samples at the Ottawa laboratory of the Project Manager, Overburden Drilling Management Limited ("ODM"). Follow-up diamond drilling is planned for early October.

Boulder Prospecting

Preliminary prospecting on 2 of 3 targets from Northern Superior's initial RC drilling program has yielded numerous sheared, altered and mineralized boulders up to 2 metres in size.

Target 2 appears to be associated with a 0.7 x 3 kilometre, high-level porphyry stock at the contact between metasediments and a quartz monzonite batholith. The contact area has a steep metamorphic gradient similar to that found at the Eleonore gold deposit in Quebec. The porphyry is siliceous, extensively fractured and contains fluorite and spessartine garnet alteration. Three days of prospecting produced 41 visually interesting boulders, of which 33 (80%) were found to be anomalous in gold. Fourteen boulders (34%) yielded >0.3 g/t gold and one measuring 1.0 metres yielded 42 g/t.

Target 3 is associated with a 200 metre wide shear zone in the quartz monzonite batholith. The initial boulder prospecting yielded 12 visually interesting boulders of which 11 (92 percent) yielded anomalous gold assays. Six boulders (50%) yielded >2 g/t gold and one measuring 1.5 metres yielded 48 g/t.

Due to the very positive results of the preliminary boulder sampling, a professional prospecting team has been contracted to conduct a broader and more intensive boulder search. New sheared, altered and mineralized boulders are being located daily and many additional samples have been submitted for assay.

Exploration Model

The TPK gold-in-till anomaly occurs immediately adjacent to a major, potentially shear-spreading bend in the regional-scale Stull-Wunnummin Fault. This setting, in combination with the extensive shear deformation observed in the porphyry and quartz monzonite, suggests the presence of an array of gold-bearing splay shears similar to those associated with the major bend in the Larder Lake-Cadillac Fault in the Malartic-Val d'Or gold district where the main gold deposits, including West Malartic (Osisko), Camflo, Goldex and Sigma, are closely associated with sheared porphyries. In addition, the strong correlation between gold and arsenic at TPK closely matches that at Eleonore, Casa Berardi, Hemlo, Musselwhite and many other gold deposits in the Canadian Shield.

Commentary

"The initial prospecting results and further definition of the gold-in-till anomalies are encouraging and merit additional exploration activity," commented Raymond Threlkeld, President and CEO of Rainy River Resources. "We are anxious to begin core drilling which is the next phase of exploration on this highly prospective project."

Dr. T.F. Morris, President and CEO of Northern Superior states: "The positive results from this phase of boulder prospecting continues to support our assertion regarding the tremendous potential of the TPK project for significant gold mineralization over a large area. The distribution of boulders with anomalous gold assays, coupled with results from the current phase of prospecting and reverse circulation drilling, will greatly refine drill target selection to better direct and maximize efficiencies for our diamond drill program slated to commence in October."

Qualified persons

Rainy River is the Operator of the TPK Joint Venture and the current exploration program is being supervised by Stuart Averill, P.Geo. Vice-President Exploration, a Qualified Person as defined by National Instrument 43-101. Mr. Averill 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 till and 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 is a Canadian precious metals exploration company, the key asset of which is the Rainy River Gold Project. With over approximately $77.0 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 prefeasibility 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 relative to other mining jurisdictions and according to the annual Fraser Institute global survey of the mining industry, Ontario has consistently ranked as one of the top jurisdictions to embrace mineral development.

About Northern Superior Resources Inc.

Northern Superior Resources Inc. is a junior exploration company focused on exploring for gold in the Superior Province of the Canadian Shield. The Company currently has three high active, high quality gold exploration projects in Ontario and Quebec - TPK, Thorne Lake and Wachigabau (see Company web site, www.superior.com). These projects, and three more early stage gold exploration projects (Rapson Bay, Meston Lake and Lespinay), were all developed from the Company's extensive geoscientific data base. Additional gold exploration projects are currently being developed from this data base. In addition to optioning out the TPK property, the Company is currently looking to option-out its other 100% owned Rapson Bay, Meston Lake and Lespinay gold projects. Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP.

Forward looking statements: This news release includes certain "forward‐looking information" within the meaning of Canadian securities legislation and "forward‐looking statements" within the meaning of the United States Private Securities Litigation Reform Act or 1995 (collectively, "forward looking statements"). Forward looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved or other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding potential mineralization, exploration results, interpretation of results, the timing and success of exploration activities generally, the timing and results of future resource estimates, and future plans and objectives of Northern Superior or Rainy River are forward‐looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Northern Superior's or Rainy River's expectations include exploration risks, changes in project parameters as plans continue to be refined, results of future resources estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward looking statements.

Table 1: Summary of Results

RC Target 2   RC Target 3
Boulder Number Au (g/t)   Boulder Number Au (g/t)
PT2 B001 0.099   PT3 B001 <0.005
PT2 B002 0.006   PT3 B002 2.92
PT2 B003 <0.005   PT3 B003 48.5
PT2 B004 0.116   PT3 B004 2.08
PT2 B005 40.8   PT3 B005 3.03
PT2 B006 0.202   PT3 B006 8.44
PT2 B007 0.031   PT3 B007 12.85
PT2 B008 0.006   PT3 B008 0.011
PT2 B009 0.349   PT3 B009 0.013
PT2 B010 0.869   PT3 B010 0.911
PT2 B011 0.171   PT3 B011 0.524
PT2 B012 0.146   PT3 B012 0.019
PT2 B013 0.636      
PT2 B014 0.094      
PT2 B015 0.761      
PT2 B016 0.009      
PT2 B017 2.56      
PT2 B018 0.005      
PT2 B019 0.01      
PT2 B020 0.372      
PT2 B021 0.339      
PT2 B022 <0.005      
PT2 B023 <0.005      
PT2 B024 0.033      
PT2 B025 0.044      
PT2 B026 <0.005      
PT2 B027 <0.005      
PT2 B028 0.033      
PT2 B029 1.77      
PT2 B030 0.446      
PT2 B031 1.595      
PT2 B032 0.273      
PT2 B033 0.048      
PT2 B034 0.031      
PT2 B035 1.92      
PT2 B036 0.542      
PT2 B037 0.769      

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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