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Rainy River Resources Ltd
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Shares Issued 72,499,850
Close 2010-08-30 C$ 6.36
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Rainy River drills 407.9 g/t Au over 4.5 m

2010-08-31 08:15 ET - News Release

Mr. Raymond Threlkeld reports

RAINY RIVER INFILL DRILLING RETURNS 407.9 G/T GOLD (11.9 OZ/TON) OVER 4.5 METRES IN ODM ZONE

Rainy River Resources Ltd. has released drill results from the Rainy River gold project in Northwestern Ontario.

Highlights include the following:

  • Early results from infill drilling in ODM and 433 zones are exceptional.
  • ODM zone infill drilling yields 407.9 grams per tonne gold over 4.5 metres.
  • 433 zone highlights open-pit and underground potential with 1.68 grams per tonne gold over 48.0 metres and 8.27 grams per tonne gold over 4.5 metres.
  • New HS zone intercept demonstrates potential at depth

ODM zone

Diamond drill hole NR10-532, in the western or ODM sector of the large ODM17 zone, intersected 407.9 grams per tonne gold over a width of 4.5 metres, including 1,221.2 grams per tonne gold over 1.5 metres. This intersection is one of the richest ever recorded at the Rainy River gold project and is located in the western plunge of the ODM zone, approximately 415 metres below surface. It displays good continuity with previously disclosed drill hole NR07-187 which returned 7.43 grams per tonne gold over 4.5 metres approximately 40 metres updip from NR10-532. Also in the ODM zone, drill hole NR10-522 intersected 6.22 grams per tonne gold over 1.5 metres at 563 metres depth. The ODM zone remains open at depth and along strike. Detailed results can be found in the table.

433 zone

In the shallow depths of the 433 zone, drill hole NR10-533 returned a strong 8.27 grams per tonne gold over 4.5 metres, approximately 170 metres below surface. Drill hole NR10-539 intersected 1.68 grams per tonne gold over a wide interval of 48.0 metres, including 4.76 grams per tonne gold over 7.5 metres, which in turn includes 13.2 grams per tonne gold over 1.5 metres, at 104 metres below surface, further demonstrating the shallow potential of the 433 zone. Also in the 433 zone, drill hole NR10-530 intersected 30.0 metres grading 0.86 gram per tonne gold.

South and HS zones

Drill hole NR10-522 intersected gold mineralization in both the South and HS zones. In the South zone an interval of 1.02 grams per tonne gold over a width of 25.5 metres was reported at a depth of 307 metres, further demonstrating the excellent potential of the South zone which remains wide open in all directions. In the HS zone, which lies between the ODM and 433 zones, an interval of 6.22 grams per tonne gold over a width of 1.5 metres was intersected at a depth of 713 metres, one of the deepest intersections to date on the project.

"These latest results from the infill program in the ODM and 433 zones have been excellent and demonstrate the exploration potential and development flexibility that the deposit offers," commented Raymond Threlkeld, president and chief executive officer. "The company recently increased its 2010 exploration budget, approved the development of an underground exploration program to commence in 2011 and announced a $20-million financing (in addition to $60-million cash on hand). Rainy River is very well positioned to take the project through advanced exploration and feasibility."

Qualified persons

Rainy River's exploration program in Richardson township is being supervised by Stuart Averill, PGeo, vice-president, exploration, a qualified person as defined by National Instrument 43-101. Garett Macdonald, PEng, is the person responsible for the content of this news release.

 
                         SUMMARY OF RESULTS
          Vertical
             depth     From      To  Length    Gold     Gold
Hole ID         (m)      (m)     (m)     (m)   (g/t)   (oz/t)   Zone

NR10522        307    336.5   362.0    25.5    1.02     0.03   South
               563    669.0   670.5     1.5    6.68     0.19     ODM
               713    861.0   862.5     1.5    6.22     0.18      HS
NR10530        121    114.5   144.5    30.0    0.86     0.03     433
NR10532        417    461.0   465.5     4.5  407.94    11.90     ODM
Including      416    461.0   471.5     3.0  611.60    17.84     ODM
Including      415    462.5   464.0     1.5 1221.19    35.62     ODM
NR10533        170    168.5   173.0     4.5    8.27     0.24     433
Including      172    171.5   173.0     1.5   24.10     0.70     433
               233    225.5   243.5    18.0    0.80     0.02     433
NR10535        113    128.0   129.5     1.5    1.05     0.03     433
NR10539        104     80.0   128.0    48.0    1.68     0.05     433
Including      121    117.5   125.0     7.5    4.76     0.14     433
Including      118    117.5   119.0     1.5   13.19     0.38     433

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