Rubicon Minerals Corporation
AMEX : RBY
TSX : RMX

Rubicon Minerals Corporation

September 21, 2005 09:30 ET

Sprott Asset Management Reports Accumulation of 5.9 Million Rubicon Shares

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 21, 2005) -

With exercise of warrants, Company will hold 10.4% of issued and outstanding shares

David W. Adamson, President and CEO of Rubicon Minerals Corporation (TSX:RMX)(AMEX:RBY) announces that Rubicon has been advised that Sprott Asset Management Inc. has filed an initial report under Part 4 of National Instrument 62-103 to report that it exercises control or direction over 5,871,500 common shares and 1,153,850 warrants. Based on the number of currently issued and outstanding common shares and assuming the exercise of the warrants, this represents 10.4% of the issued or outstanding common shares of Rubicon.

Sprott Asset Management manages over CDN$2.5 billion in assets among its various long/short equity strategies, mutual funds and managed accounts.

RUBICON MINERALS CORPORATION

David W. Adamson, President & CEO

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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