Mr. Raymond Threlkeld reports

RAINY RIVER RESOURCES IDENTIFIES NEW GOLD-SILVER ZONE ONE KILOMETRE EAST OF THE RAINY RIVER OPEN PIT

Rainy River Resources Ltd. has released assay results from the Rainy River gold project in Northwestern Ontario. Results are summarized in the table.

Highlights:

• One kilometre east of the proposed open-pit boundary of the Rainy River gold project, drill hole NR121258 intersected 2.2 grams per tonne gold and 38.5 grams per tonne silver over 18.5 metres, including six grams per tonne gold and 83.9 grams per tonne silver over three metres, at a vertical depth of 210 metres.
• NR121364 intersected 4.3 grams per tonne gold and 33.3 grams per tonne silver over 18.0 metres, including 8.4 grams per tonne gold and 37.0 grams per tonne silver over six metres, 37.5 metres up dip of NR121258, at a vertical depth of 202 metres.
• NR121370 intersected 3.8 grams per tonne gold and 12.3 grams per tonne silver over 10.5 metres, including 8.3 grams per tonne gold and 22.6 grams per tonne silver over three metres, a further 80 metres up dip of NR121364, and at a vertical depth of 96 metres below surface.
• The Intrepid zone demonstrates excellent continuity in both grade and thickness, and the zone is wide open.

New discovery: Intrepid

Exploration drilling has resulted in a significant new gold and silver discovery approximately one kilometre east of the proposed open-pit boundary of the Rainy River gold project. Drill hole NR121258 intersected 2.2 grams per tonne gold and 38.5 grams per tonne silver over 18.5 metres, including six grams per tonne gold and 83.9 grams per tonne silver over three metres at a vertical depth of 210 metres. This new zone, termed the Intrepid zone, clearly demonstrates the potential for new discoveries along trend. The new zone was discovered after mobile metal ion geochemistry identified areas of anomalous gold over the prominent magnetic low trend that hosts the majority of the Rainy River gold project's deposits. The new zone contains disseminated and fracture-related mineralization including 2 to 3 per cent pyrite and variable amounts of sphalerite, galena and chalcopyrite. Both electrum and visible gold have also been identified in core.

The first follow-up hole, NR121364, has been completed 37.5 metres directly up dip of the discovery hole. NR121364 intersected 4.3 grams per tonne gold and 33.3 grams per tonne silver over 18.0 metres, including 8.4 grams per tonne gold and 37.0 grams per tonne silver over six metres, at a vertical depth of 202 metres. In addition, NR121370 intersected 3.8 grams per tonne gold and 12.3 grams per tonne silver over 10.5 metres, including 8.3 grams per tonne gold and 22.6 grams per tonne silver over three metres, a further 80 metres up dip of NR121364, and at a vertical depth of 96 metres below surface.

A total of 13 diamond drill holes have intersected the Intrepid zone over a 100-metre strike length, and have traced the mineralization down dip for 175 metres. The mineralized zone is wide open and is dipping steeply to the south. Mineralization has been traced to within 50 metres of surface. Two additional rigs have been allocated to help define this new and significant discovery. An additional 20 diamond drill holes have intersected the zone, for which assays are pending.

Raymond Threlkeld, president and chief executive officer of Rainy River Resources, commented: "This exciting, new Intrepid zone discovery is yet another chapter in the district potential story of the Rainy River gold project. Located along a six-kilometre magnetic low trend that hosts the main deposit, diamond drill hole NR121258 provides us with guidance on future exploration targets within our extensive land package in the district. With our exploration program demonstrating continued success, Rainy River plans to focus exploration efforts over the remainder of the year on the Intrepid zone as well as other key areas within the prominent magnetic low trend hosting the Rainy River deposits."

Qualified persons

Rainy River's exploration program in Richardson township is being supervised by Kerry Sparkes, PGeo, vice-president, exploration, a qualified person as defined by National Instrument 43-101. Mr. Sparkes is also the person responsible for the content of this news release. The company has a rigorous quality assurance/quality control program in place to ensure best practices in sampling and analysis of drill core. All drill core is marked for sampling and then split in half with a diamond saw blade. Samples are placed in sealed bags with security tags. All samples were assayed using a standard fire assay, 30-gram nominal sample weight with an AA finish. Overlimit samples were reassayed with a gravimetric finish. Samples with visible gold were automatically analyzed for ore grade by 1,000-gram screen fire assay, with coarse and fine fractions being combined proportionately and the fine fraction being assayed twice. Standards, blanks and duplicates are inserted every 25 metres. ALS Canada Ltd. performed primary assaying, with duplicates being analyzed at Activation Laboratories Ltd. ALS Canada and Activation Laboratories implement independent QA/QC protocols that include the insertion of certified blanks and standards as part of their routine analyses.

                      RESULTS

Hole ID   Vertical       From     To  Length   Au     Ag
          depth (m)        (m)    (m)     (m) g/t    g/t
                                                                 
NR121258       215      279.0  297.5    18.5  2.2   38.5
Incl.          210      279.0  282.0     3.0  6.0   83.9
NR121277        49       66.5   69.5     3.0  1.0   18.3
NR121364       200      214.5  232.5    18.0  4.3   33.3
Incl.          202      223.5  229.5     6.0  8.4   37.0
NR121368       131      175.5  186.0    10.5  1.8    7.8
Incl.          129      175.5  181.0     5.5  2.5    9.0
NR121370        99      124.5  135.0    10.5  3.8   12.3
Incl.           96      124.5  127.5     3.0  8.3   22.6
NR121372       116      144.0  157.5    13.5  1.4   70.3
NR121373        82      105.0  108.0     3.0  1.1   58.8
NR121375        88      105.0  112.5     7.5  0.7   44.5
NR121376       111      141.0  144.0     3.0  2.2   38.8
NR121378       223      288.0  306.0    18.0  2.4   32.7
Incl.          222      294.5  297.0     2.5 10.6  128.6
NR121380       209      229.5  249.0    19.5  1.6   31.5
NR121381       157      193.5  216.0    22.5  1.5   42.1
NR121411       150      189.0  199.5    10.5  2.9   28.3
Incl.          152      195.0  199.5     4.5  5.2   31.6

We seek Safe Harbor.