Rainy River Resources Ltd.
TSX VENTURE : RR

Rainy River Resources Ltd.

August 16, 2011 09:36 ET

Rainy River Resources Files Technical Report to Support Mineral Resource Statement Dated June 29, 2011

TORONTO, ONTARIO--(Marketwire - Aug. 16, 2011) - Rainy River Resources Ltd. ("Rainy River" or the "Company") (TSX VENTURE:RR) confirms that it has filed on SEDAR a Technical Report dated August 12, 2011, and entitled "Mineral Resource Evaluation, Rainy River Gold Project, Western Ontario, Canada", as referenced in Rainy River's press release of June 29, 2011. The technical report was prepared by SRK Consulting (Canada) Inc. ("SRK"), in compliance with National Instrument 43-101: Standards of Disclosure for Mineral Projects. The report will also be available on Rainy River's web site.

As announced in Rainy River's June 29, 2011 news release, the Technical Report contains Measured, Indicated and Inferred category resource estimates for the Rainy River Gold Project ("RRGP" or the "Project"). The Project is an advanced stage gold exploration project situated in the southern half of Richardson Township, approximately 65 kilometres northwest of Fort Frances in Western Ontario.

Rainy River Resources is currently working on a Preliminary Economic Assessment ("PEA") for the RRGP based on this Technical Report, which includes drill data received up to February 27, 2011. The upcoming PEA will not include drilling subsequent to this date. Any new information following February 27, 2011 will be incorporated in the next resource update, targeted for release in the first quarter of 2012.

Qualified persons

The mineral resource statement was prepared by Dorota El-Rassi, P.Eng. (APEO #100012348) and Glen Cole, P.Geo (APGO #1416), of SRK, both "independent qualified persons" as that term is defined in National Instrument 43-101. Rainy River's exploration program in Richardson Township is being supervised by Kerry Sparkes, P.Geo. (APEGBC #25261), Vice-President Exploration and a Qualified Person as defined by National Instrument 43-101. Kerry Sparkes and Garett Macdonald, P.Eng. (PEO #90475344), are responsible for the content of this news release. The Company has a rigorous QA/QC program in place to ensure best practices in sampling and analysis of drill core. All drill core is marked for sampling and then split in half with a diamond saw blade. Samples are placed in sealed bags with security tags. All samples were assayed using a standard fire assay, 30 gram nominal sample weight with an AA finish. Over-limit samples were re-assayed with a gravimetric finish. Samples with visible gold were automatically analyzed for ore grade by 1000g screen fire assay, with coarse and fine fractions being combined proportionately and the fine fraction being assayed twice. Certified standards, blanks and duplicates are inserted every 25 metres. ALS Minerals Canada performed primary assaying, with duplicates being analyzed at Activation Laboratories Ltd. ALS Minerals Canada and Activation Laboratories Ltd. implements independent QA/QC protocols that include the insertion of certified blanks and standards as part of their routine analysis.

About Rainy River

Rainy River is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project. With approximately $120million in cash and securities, 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 centred 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 in Canada. The Company is also working to advance the early-stage discoveries at its TPK Joint Venture Property, also in Ontario, where it can earn a 51% interest in the property from Northern Superior Resources. 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 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 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.

Neither 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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