April 9, 2010 |
Rainy River Resources Announces Appointment of Director of Environment and Sustainability |
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 9, 2010) - Rainy River Resources Ltd. (TSX VENTURE:RR) (the "Company" or "Rainy") is pleased to announce the appointment of Kyle Stanfield, P.Eng. to the position of Director of Environment and Sustainability.
Mr. Stanfield will be responsible for leading the environmental assessment and permitting of the Rainy River Gold Project near Emo, Ontario. In addition, Mr. Stanfield will be responsible for furthering the Company's relations with local First Nations and the nearby communities.
Mr. Stanfield brings extensive mining project permitting and environmental assessment experience to Rainy. Most recently he developed and led the mine permitting group at DST Consultants. He has particular expertise in the area of gold mining, having served as an environmental engineer with Placer Dome Inc. both at overseas and Canadian operations prior to joining a consulting practice in 2000. Mr. Stanfield served as Manager of Projects with Rescan Environmental Services where he successfully led a $10M environmental assessment of the Galore Creek copper-gold project in British Columbia. He also has extensive experience leading multi-disciplinary teams to complete environmental assessments and associated project permitting under the harmonized provincial and federal environmental assessment process. His experience includes working closely with First Nations communities in Northwestern Ontario, the Northwest Territories, and Northern British Columbia.
Raymond Threlkeld, President and CEO of the Company, commented, "We are very pleased to welcome Kyle to Rainy River Resources. The Company is building a young, dynamic team to manage the permitting and development of the Rainy River Gold Project. Kyle's extensive experience in project permitting and serving as a liaison with First Nations throughout the mine development process will be important as we move the project towards development."
Mr. Stanfield has been granted options to acquire a total of 150,000 common shares of the Company at the exercise price of $6.09 per share for a period of 5 years, subject to vesting.
About Rainy River Resources Ltd.
Rainy River Resources is a Canadian precious metals exploration company whose key asset is the Rainy River gold project. With over CAN$65 MM million in its treasury, the Company is well funded to conduct a dual-focused drilling program consisting of: 1) definition diamond drilling of the main gold resources in preparation for scoping and pre-feasibility studies, and 2) selective diamond drill testing of high-priority gold targets defined primarily by RC drilling within the large gold system centered in Richardson Township. The Company's property is extremely well located in the southwestern corner of northern Ontario near the U.S. border. It is accessed by a network of roads and is close to hydro-electric infrastructure. The Rainy River district has a skilled labour force and is one of the lowest-cost areas for mineral exploration and development. Ontario has low political risk and, according to the annual Fraser Institute global survey of the mining industry, has consistently ranked as one of the top jurisdictions embracing mineral development.
RAINY RIVER RESOURCES LTD.
Raymond W. Threlkeld, President & CEO
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.
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