Rainy River Resources Ltd.

Rainy River Resources Ltd.

March 30, 2009 07:00 ET

Rainy River Resources Ltd.: Massive Pyrite Intersection Carries Robust Gold and Silver Values

NR09-322: 2.1 m grading 5.73 g/t Au, 34.61 g/t Ag NR09-320: 52.5 m grading 1.68 g/t Au and 4.6 m grading 5.31 g/t Au NR09-332: 7.2 m grading 7.52 g/t Au and 1.5 m grading 26.66 g/t Au

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 30, 2009) - Rainy River Resources Ltd. (TSX VENTURE:RR) is pleased to report the results for five drill holes recently completed in the Richardson Township gold-bearing caldera complex. Four of the five holes, NR09-320, NR09-332, NR09-334 and NR09-335, are part of in-fill drilling within the 17/ODM, HS and 433 Zone main resource area. NR09-322 is an isolated drill hole located outside of the main resource area 500 m west-northwest of the 433 Zone and 300 m east of NR09-302 reported in a previous press release (January 20, 2009). This step-out hole was designed to test Target 3, a gold-in-bedrock anomaly defined in last year's reverse circulation (RC) drilling program and interpreted to be the western extension of the 433 Gold Trend overlying the broadly auriferous (600 ha) caldera complex in Richardson Township 55 km northwest of Fort Frances, Ontario.


The discovery of classic VMS-style mineralization within the gold-bearing Richardson caldera complex is another important event for the Company. NR09-322 intersected a 2.1 m interval consisting of a 30 cm interval of volcanogenic massive pyrite mineralization and a 1.8 m interval of 25% stringer sulphides overlying it. Combined the 2.1 m (6.9 ft) interval graded 5.73 g/t (0.17 opt) Au, 34.61 g/t (1.01 opt) Ag with anomalous, zinc, bismuth and cadmium values. A second interval 150 m below the VMS-style mineralization graded 1.53 g/t Au and 13.04 g/t Ag over a 7.2 m true width section. Right angle foliations observed in the core suggest that both mineralized intervals are close to true width. Details of all intervals are highlighted in Table 1, below.


Four in-fill drill holes intersecting the main resource area continue to confirm wide intervals of impressive gold mineralization. NR09-320, positioned to intersect all three gold horizons (17/ODM, HS, 433) intersected a wide 52.5 m interval grading 1.68 g/t Au including three distinct, higher grade intervals of 10.5 m grading 2.52 g/t Au, 6.0 m grading 3.67 g/t Au and 4.6 m grading 5.31 g/t Au. A surface plan illustrating these relationships has been posted on the Company's website www.rainyriverresources.com.

Three drill rigs are active in Richardson Township. Two of the three rigs have been dedicated to drill testing Target 1 area following up on the recent new gold discovery reported by the Company in the March 11, 2009 news release (NR09-329) and the third drill is completing the in-fill drilling in the main resource area.

Table 1

From To Core Length Au Ag Au Ag
Hole (m) (m) (m) (g/t) (g/t) (oz/t) (oz/t) Zone

NR-09-322 129.5 131.6 2.1 5.73 34.61 0.17 1.01 433 Trend
288.5 295.7 7.2 1.53 13.04 0.04 0.38 433 Trend

NR-09-320 188.0 240.5 52.5 1.68 0.05 HS/433
Incl. 189.5 200.0 10.5 2.52 0.07 HS/433
And 192.5 198.5 6.0 3.67 0.11 HS/433
And 234.5 240.5 6.0 4.13 0.12 HS/433

NR-09-332 96.5 98.0 1.5 26.66 0.78 HS/433
224.0 225.5 1.5 7.43 0.22 HS/433
398.3 405.5 7.2 7.52 0.22 HS/433

NR-09-334 89.5 102.5 13.0 1.98 0.06 HS/433
429.5 450.5 21.0 1.32 0.04 HS/433
Incl. 444.5 447.5 3.0 4.26 0.12 HS/433

NR-09-335 257.0 267.5 10.5 2.06 0.06 HS/433
Incl. 258.5 263.0 4.5 3.12 0.09 HS/433

Note: All intersected widths in Table 1 are estimated to be close to 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 $26.0 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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