Mr. Raymond Threlkeld reports

RAINY RIVER RESOURCES EXTENDS INTREPID GOLD-SILVER ZONE 125 METRES DOWN DIP

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

Highlights

• Drill hole NR121404 intersected 4.8 grams per tonne gold and 49.7 g/t silver over 12.0 metres, including 11.0 g/t gold and 112.7 g/t silver over 4.5 metres, at a vertical depth of 247 metres;
• Drill hole NR121403 intersected 4.2 grams per tonne gold and 27.9 g/t silver over 13.5 metres, including 5.1 g/t gold and 35.7 g/t silver over nine metres, at a vertical depth of 311 metres;
• Drill hole NR121417 intersected 4.8 grams per tonne gold and 20.2 g/t silver over three metres, at a vertical depth of 355 metres;
• The Intrepid zone expanded downdip by 125 metres and along strike to the west by 85 metres.

Intrepid -- latest drill hole results

Rainy River first issued results from the new Intrepid zone on Oct. 22, 2012, including discovery drill hole NR121258, which intersected 2.2 g/t gold and 38.5 g/t silver over 18.5 metres, including six g/t gold and 83.9 g/t silver over three metres at a vertical depth of 210 metres. These latest results continue to demonstrate the potential of this new zone to positively impact the future development of the RRGP with high-quality ounces.

To date, 23 diamond drill holes have intersected the Intrepid zone over a 185-metre strike length and have traced the mineralization downdip for 350 metres. The mineralized zone continues to be wide open and is dipping steeply to the south, with a steep southwest plunge taking shape within the higher-grade core. Mineralization has been traced to within 50 metres of surface. Three diamond drill rigs have been allocated to help define this new and significant discovery. Assays are pending for an additional 17 diamond drill holes that have intersected the zone.

Commentary

Raymond Threlkeld, president and chief executive officer of Rainy River Resources, commented: "The newly discovered Intrepid zone continues to demonstrate its potential, through extension at depth and along strike, through high grades, and through continuity. This new zone is located very close to the proposed ramp for our underground mine. Our preliminary assessment suggests that the new zone could be accessed within six months of commencement of the ramp portal, making it a very early source of underground material for our proposed mill at the RRGP. We will continue to focus our 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 Ltd. and Activation Laboratories implement independent QA/QC protocols that include the insertion of certified blanks and standards as part of their routine analysis.

     
                           INTREPID ZONE DRILL RESULTS
                                
Hole          Depth              From         To     Length         Au       Ag
                 (m)               (m)        (m)        (m)      (g/t)    (g/t)

NR121387        153             202.5      204.0        1.5        1.1     22.8
NR121389        114             150.0      154.5        4.5        0.7     11.4
NR121390        195             249.0      258.0        9.0        1.6     15.7
NR121403        309             318.0      331.5       13.5        4.2     27.9
including       311             322.5      331.5        9.0        5.1     35.7
NR121404        244             291.0      303.0       12.0        4.8     49.7
including       247             298.5      303.0        4.5       11.0    112.7
NR121407        230             325.5      334.5        9.0        2.4     33.9
NR121409        153             186.0      199.5       13.5        1.6     21.5
NR121412        281             339.0      361.5       22.5        1.7     10.0
including       276             339.0      348.0        9.0        3.2     12.2
including       278             343.5      348.0        4.5        4.4     15.2
NR121415        322             373.5      382.5        9.0        2.0     17.0
NR121417        355             414.0      417.0        3.0        4.8     20.2

We seek Safe Harbor.