Rainy River Resources Ltd.

Rainy River Resources Ltd.

November 03, 2006 08:30 ET

Rainy River's "ODM Zone" Continues to Record Impressive Gold Intersections Near Surface, 22.6 Meters Grading 17.02 Grams per Tonne Gold

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 3, 2006) - Nelson W. Baker, President of Rainy River Resources Ltd. (TSX VENTURE:RR), is pleased to report that the Company has just received the impressive gold results for drill hole (NR06-107), drilled 60 meters northwest of NR06-106 within the ODM Zone, which was reported in a release earlier this week (November 1st, 2006). This drill hole NR06-107 was successful in intersecting an impressive true width interval of 22.6 m grading 17.02 g/t Au (uncut) at a depth of about 100 meters below surface. This hole was not highlighted in the Company's November 1, 2006 release as having visible gold mineralization, however, upon re-examining the above interval, several blebs of VG were observed associated with pyrite, sphalerite, galena and minor chalcopyrite seams and/or veinlets. As indicated in our previous release, because of the widespread visible gold observed, the ODM Zone is considered to be a distinctly separate mineralized zone to the 17 Zone.

Rainy River awaits the analytical results for three additional holes, NR06-111, NR06-115 and NR06-117, that have also been subsequently drilled into the ODM Zone principally to test the extent of the visible gold mineralization along strike and down plunge. All of the above holes have recorded the same style of mineralization. The detailed results for drill hole NR06-107 are listed in Table I below and the location of all of the above holes has been posted on the Company's website www.rainyriverresources.com. The Rainy River project is centered in Richardson Township approximately 80 kilometers south of Kenora in northwestern Ontario.


- NR06-106 (ODM ZONE) intersects 43.0 meters grading 5.42 g/t Au (uncut) (previously reported)

- NR06-107 (ODM ZONE) intersects 22.6 meters grading 17.02 g/t Au (uncut)

The ODM Zone lies within a 3 km long gold trend that also hosts the 17, Beaver Pond and West Zones. Since July 2004, Rainy's excellent technical team has been systematically exploring one of the largest "gold-in-bedrock anomalies" (6 square kilometers) ever recorded in the Archean greenstone belts in the Superior Province.

The Rainy River Project will continue to be aggressively explored with three drill rigs. Exploration focus is now on tracing the extent of the ODM Zone and exploring for other gold zones along the 3 km gold trend. In addition, once the down-hole geophysical probe results are interpreted, one drill rig will be dedicated to tracing the westerly extension of the rich #34 Nickel Zone.

Nelson Baker commented, "Having the luxury of a strong financial position and an excellent exploration team has allowed Rainy River to systematically explore this large gold system. Of course we are delighted with the tenor and width of this new zone, especially since it probably extends to surface."

Quality Control

Rainy River has implemented the following quality assurance/quality control (QA/QC) procedures for the Rainy River Project drill program:

Core was logged then sawed in half, with one side bagged and labeled; the remaining half was placed in core boxes for a permanent record and stored on site. All samples were transported to ALS Chemex Laboratories Ltd. facility at Thunder Bay, ON for crushing and pulverization, with pulps then sent to the Val D'Or, Quebec and Vancouver, BC labs for analysis. All samples sent for analyses were prepared using a jaw crusher, which was cleaned with compressed air between samples. A 250-gram split of the crushed sample with 70% passing through a 10 mesh screen was pulverized with 85% passing through a 200 mesh screen. Fire assays were performed using 30-grams of sample with assays equal to or greater than 10 g/t calculated gravimetrically, and lower-grade samples measured by atomic absorption. Assays greater than 100 g/t were re-analyzed by fire assay using 50-grams of sample and measured gravimetrically. Multi-element analyses were performed using 1-gram of sample digested in aqua regia and analyzed by inductively coupled plasma atomic emission (ICPAES). Blanks and Standards (one high grade and one low grade) were inserted sequentially at least every 20th sample into the drill core samples before shipment. All the blanks returned no significant gold values. Standards displayed standard deviations of less than 0.16 g/t Au and geometric means of +/- 1% of the known grade.

Core sample size varied from 0.5 to 2.0 metres with an average sample size of 1.14 metres. Quality control was monitored using a high grade (5.911 g/t Au) and low grade (1.315 g/t Au) gold standard from Rocklabs Ltd. as well as a locally sourced crushed blank.

Nelson W. Baker, P.Eng. is the Qualified Person for the Rainy River Project and the person responsible for the contents of this news release.

Nelson W. Baker, President

The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from targeted results. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The Company relies upon litigation protection for forward-looking statements.




NR06-107 dip -61 (349 m) ODM ZONE
1 gold zone intersected

From to (m) g/t Au
Zone 1 198.5 221.1 22.6 17.02
Zone 2 224.0 246.5 6.0 1.75

Note: All core intervals listed in Table 1 are estimated to be true
widths and all gold values reported are uncut.

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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