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October 15, 2007
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Rainy Discovers New Gold Zone in Step-Out Drill Hole NR07-189 Intersects 9.0 Metres Grading 6.64 g/t Au Within Wider Interval of 61.5 Metres Grading 1.77 g/t Au
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 15, 2007) - Rainy River Resources Ltd. (TSX VENTURE:RR), a well-funded, experienced mineral exploration company with particular expertise in exploring for "blind" deposits in till-covered terrain, has discovered what appears to be a seventh gold zone in Richardson Township on Rainy's property 80 kilometres south of Kenora, Ontario. NR07-189, a 511-metre hole, was drilled to follow up an isolated, historical gold intersection in hole NR95-35 drilled by Nuinsco in 1995. Re-examination of the archived core showed that the Nuinsco intersection, 3.58 metres grading 21.83 g/t Au, occurs within a highly deformed, pyrite-bearing crystal tuff with a strong fragmental texture. Hole NR07-189 intersected 61.5 metres of similarly deformed crystal tuff grading 1.77 g/t Au and carrying sections of semi-massive sulphides consisting of pyrite, sphalerite and chalcopyrite in randomly oriented seams and veinlets. Within this 61.5 metre mineralized interval, a 9.0-metre section graded 6.64 g/t Au.
The high pyrite content and strongly fragmental host rock distinguish the new zone from the 17 Zone and the new zone also appears to occur at a higher stratigraphic level (further south). As well, it lies nearly 500 metre beyond (east of) the 6 square kilometre area within which the subcropping bedrock surface beneath the till is anomalous in gold whereas the other six zones are all inside the anomalous area. Nelson W. Baker, President, commented that, "The discovery of this new gold zone at depth in an area previously considered to be unprospective clearly enhances the potential to significantly increase gold resources on the property."
In addition, this release provides the final results for holes NR07-184 and NR07-187, both successfully targeting the down plunge extension of the 17 Zone/ODM gold zones at about the 350 metre level. NR07-184 intersected three separate gold intervals with the widest being 7.5 metres grading 2.33 g/t Au. NR07-187, in the central part of the 17 Zone intersected 9.0 metres grading 4.42 g/t Au within a broader interval of 58.5 metres grading 1.24 g/t Au.
The details of all intervals for the three diamond drill holes are highlighted in Table I and an updated location plan will be posted on the Company's website www.rainyriverresources.com shortly. More than ten other holes have been completed and the core has been submitted to the lab for analysis. The Company anticipates more frequent drill results going forward.
The Quality Assurance and Quality Control (QA/QC) procedures followed by the Rainy River technical team is described in detail on its website at http://www.rainyriverresources.com/s/QualityControl.asp.
Nelson W. Baker, P. Eng., is the Qualified Person for the Rainy River Project and the person responsible for the contents of this news release.
About Rainy River Resources Ltd.
Rainy River is an exploration company focused on developing its 100% owned gold and base metal property which is located 80 km south of Kenora, northwestern Ontario. The property is open to year round exploration, including drilling, and has excellent infrastructure with ready access to railroads, highways and electrical power. To date over $13 million has been spent on the project by the Company and a NI 43-101 resource estimate is expected before year end. Currently there are four rigs on the property. Rainy River is projecting to spend $10 million by the end of 2008 and currently has more than $38 million dollars in the bank.
Nelson W. Baker, President
Table I
SUMMARY OF MAIN INTERSECTIONS
ODM ZONE (down plunge)
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Hole From To Interval Gold
(m) (m) (m) (g/t) Target
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NR07-184 12.50 16.00 3.50 1.99 ODM ZONE
31.50 35.00 3.50 2.96
380.00 444.50 64.50 0.89
Incl. 388.00 395.50 7.50 2.33
NR07-187 420.00 478.50 58.50 1.24 60m south of NR07-174
Incl. 439.50 448.50 9.00 4.42
604.40 643.50 39.10 0.73
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NEW ZONE (SE of 17 Zone)
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Hole From To Interval Gold
(m) (m) (m) (g/t) Target
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NR07-189 435.50 496.00 61.50 1.77 Confirm Nuinsco intercept
Incl. 451.00 460.00 9.00 6.64Note:
The interval widths quoted for the ODM Zone above are considered to be close to true width intersections whereas, due to the intense deformation logged in NR07-189, more drilling is required in this area before we are able to establish the true width of this zone.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, including, without limitation, with respect to the use of proceeds of the Offering, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
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