Rubicon Minerals Corporation

Rubicon Minerals Corporation

March 08, 2005 11:06 ET

Rubicon Minerals Corporation: Interim Results From Mcfinley-New Gold Zones Traced Over 150 Metres-Includes 17.24 g/t Over 2.15 Metres


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: RUBICON MINERALS CORPORATION

TSX SYMBOL: RMX
AMEX SYMBOL: RBY

MARCH 8, 2005 - 11:06 ET

Rubicon Minerals Corporation: Interim Results From
Mcfinley-New Gold Zones Traced Over 150
Metres-Includes 17.24 g/t Over 2.15 Metres

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 8, 2005) - David W.
Adamson, President and CEO of Rubicon Minerals Corporation
(TMX:RMX)(AMEX:RBY) is pleased to announce interim results from ongoing
exploration at its 100% controlled McFinley project, located in the
heart of the prolific Red Lake gold camp. Drilling in 2004 discovered a
zone of gold mineralization, referred to as the Phoenix Zone, which
demonstrates continuity in three dimensions. The purpose of the current
program is to expand the current limits of mineralization and to
investigate potential for development of multiple gold zones similar to
those found at Goldcorp's High-Grade Zone. The following summarizes key
results to date:

- Multiple new gold zones have been intersected over a strike length of
150 metres. Gold occurs within thick (10 to 15 metres) heavily altered
and veined basalts close to the contact of a major ultramafic body
which, elsewhere in the camp, is a prime location for gold
mineralization. Individual zones can be traced for 25 to 100 metres.
Examples include: 17.24 g/t Au over 2.15 metres, and 34.17 g/t Au over
1.20 metres. See Table 1 for complete results.

- Drilling in this campaign has focused on testing lateral to the
Phoenix Zone at depths of 50 to 400 metres using short and
cost-effective diamond drill holes. Given the current lateral extent of
gold mineralization (which is still open), Rubicon believes that the
likelihood of additional gold mineralization at depth is high. For
comparison, gold mineralization at major mines in the district extends
to depths of more than 2500 metres.

- Recent drilling has intersected a complex, 20-30 metre thick carbonate
(ankerite) replacement zone ("CARZ") containing numerous colloform
banded 'snowbank' veins up to 5 metres thick. These are variably
silicified and mineralized over thicknesses of 1.0 to 9.5 metres with
fine grained needle arsenopyrite, plus accessory sulphides. Visible gold
has been observed in one location within the CARZ. The newly discovered
zone has been traced over a 120 metre strike length and 60 metres down
dip and remains open. Assays from this zone and adjacent, heavily
altered and mineralized basalts are pending.

Rubicon Minerals Corporation is a Canadian-based mineral exploration
company listed on both the TSX and AMEX and focuses on gold exploration
in Canada. The Company has a 35.61% interest in a private B.C.
corporation, Africo Resources Ltd., which is currently undertaking a
feasibility study at its Kalukundi project in the DRC and recently
reported drill results of up to 53 metres of 2.98% copper and 1.36%
cobalt.

RUBICON MINERALS CORPORATION

David W. Adamson, President & CEO



TABLE 1
Interim Results - McFinley Gold Project

------------------------------------------------------
Hole No. From (m) To (m) Au g/t Core Length (m)
------------------------------------------------------
PZ-57 50.00 56.05 2.65 6.05
Incl. 54.98 56.05 11.47 1.07
------------------------------------------------------
PZ-58 73.50 74.70 34.17 1.20
------------------------------------------------------
PZ-59 44.10 52.60 6.02 8.50
Incl. 47.60 49.75 17.24 2.15
------------------------------------------------------
PZ-60 10.45 11.80 4.66 1.35
------------------------------------------------------
PZ-60 83.70 91.30 2.21 7.60
Incl. 89.65 91.30 6.24 1.65
------------------------------------------------------
PZ-61 79.00 80.40 5.61 1.40
And 85.00 86.20 3.26 1.20
------------------------------------------------------
PZ-62 46.40 48.00 3.21 1.60
And 86.80 87.85 2.82 1.05
------------------------------------------------------
PZ-63 35.25 36.40 4.33 1.15
------------------------------------------------------
PZ-64 32.50 33.70 2.02 1.20
And 177.3 178.3 4.05 1.00
------------------------------------------------------
PZ-65 100.1 101.2 2.17 1.10
------------------------------------------------------
PZ-66 Assays Pending
------------------------------------------------------
PZ-67 Assays Pending
------------------------------------------------------
PZ-68 (i) 110.40 111.55 11.41 1.15
------------------------------------------------------
PZ-69 (i) 134.55 136.40 9.50 1.85
------------------------------------------------------


The cut-offs for reported intercepts are a minimum of 1.0 metres in core
length and a minimum of 2.0 g/t gold. The assaying was conducted on sawn
NQ2-sized half core sections by ALS Chemex Labs using the metallic
screen fire assay procedure or fire assay gravimetric finish. Holes with
incomplete assay results denoted by (i). Standards and blanks were
included in each sample batch. Widths reported are 60-100% of true
width. The work was supervised by Darwin Green, M.Sc., P.Geol., the
project Qualified Person under the definition of NI 43-101.

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 foor forward looking statements.

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Rubicon Minerals Corporation
    Bill Cavalluzzo
    VP Investor Relations
    Toll free: 1-866-365-4706
    bcavalluzzo@rubiconminerals.com
    www.rubiconminerals.com
    The Toronto Stock Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.