09:22:52 EST Thu 13 Dec 2018
Enter Symbol
or Name

Rainy Mountain Royalty Corp (2)
Symbol C : RMO
Shares Issued 49,771,969
Close 2018-01-09 C$ 0.065
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Rainy Mountain begins drilling at Brunswick property

2018-01-10 11:11 ET - News Release

Mr. Douglas Mason reports


Rainy Mountain Royalty Corp. has commenced drilling on the east grid of the company's optioned gold exploration property located 140 kilometres south of Timmins, Ont. The company intends to proceed with a proposed 1,500-metre drill program (see news release dated Oct. 12, 2017, for details on the proposed drilling program) to follow up on the August, 2017, trenching results and to test the extensions of the original gold showing (see news release dated Sept. 12, 2017, for trenching results). These new targets on the extension have been exposed by trenching and induced polarization surveys. Other parallel shear zones will also be tested. Stepout drill holes (along strike to drill hole BE17-04) will be drilled to trace anomalous gold (Au) and arsenic (As) values that are potential indicators of a nearby gold zone (see news release dated July 12, 2017).

On the west grid of the property, five drill holes have been selected to test IP anomalies adjacent to gold values obtained from prospecting surface grab samples that assayed 6.6 grams gold (Au), 4.05 grams gold (Au) and 2.56 grams gold (Au) (see news release dated Aug. 28, 2017, for trenching and prospecting details).

The geophysical grid will also be expanded to cover the remaining unsurveyed parts of the east and west grids of the property in search of additional drill targets. This is expected to add another 5.1 kilometres of strike length coverage to the property.

In connection with the expenditures on the current drill program, the company anticipates receiving a Junior Exploration Assistance Program grant of up to 33 per cent of the exploration expenditures (to a cap of $300,000 in expenditures) by the Ontario Prospectors Association. To qualify for the JEAP grant, the company's exploration expenditures must be completed by March 30, 2018.

Based on its exploration results to date, the company believes that the Brunswick property covers a full six miles (9.6 kilometres) of a set of shear zones that parallel the Ridout fault system, which is interpreted to be the continuation of the Larder Lake Break. Five shears have been defined by IP-resistivity surveys and initial drilling has tested each shear with just one hole to confirm that these anomalies were in fact sericite-iron carbonate (ankerite) altered shears with quartz-pyrite. The Brunswick property is located 140 km south of Timmins, Ont., and is road accessible from Highway 560 that links Highway 144 to Shiningtree and Kirkland Lake.

This news release has been reviewed and approved by Robert Middleton, PEng, who is acting as the company's qualified person for the Brunswick property gold exploration project, in accordance with regulations under National Instrument 43-101.

We seek Safe Harbor.

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