VANCOUVER,
BRITISH COLUMBIA--(Marketwire - June 2, 2008) - Nelson W. Baker,
President and CEO of Rainy River Resources Ltd. (TSX VENTURE:RR), is
pleased to report results for two additional north trending drill holes
recently completed in the southern part of Richardson Township
approximately 80 km
south of Kenora, Ontario. Both holes were designed to enhance the
present gold resource of 1.4
M oz in the indicated category and 2.2 M oz in the
inferred category (see February 26, 2008 press release). NR08-253 was
positioned to intersect the near-surface part of the 17/ODM Zone where
there was an up-dip "gap" between previous drilling and the
bedrock surface contact. This hole successfully recorded a 64.5 m intersection
grading 2.58 g/t Au including an upper 8.0 m interval
grading 7.40 g/t Au and a lower 3.0 m interval grading 7.42 g/t Au. The
second hole, NR08-242, targeting the HS Trend, intersected a 1.5-metre
interval grading 15.04 g/t Au at approximately 150 m vertically
below surface.
Under the direction of Overburden Drilling Management Limited, a
reverse circulation rig is performing till sampling to develop new
targets for the diamond drills. Preliminary gold grain counts and heavy
mineral fraction gold assays have been received from eight holes
drilled in a previously untested, beaver-flooded area between the
17/ODM and Beaver Pond Zones. The indicated gold content of the till in
these holes is as high as that in the holes that led to the discovery
of the main 17/ODM and 433 Zones.
The details of both holes are highlighted in Table I below and a
location plan will be posted on the Company's website www.rainyriverresources.com shortly. Presently, there are four diamond drill rigs actively
drilling on the Rainy River Project, three in Richardson Township
and one in the Off Lake area approximately 23 km to the
northeast.
Details on the current mineral resource are available in the April 2008
Technical Report which has been posted on SEDAR (www.sedar.com) and will be posted on the Company's website shortly (www.rainyriverresources.com).
Rainy River's exploration program is
being managed by Project Manager, Wally Rayner, P. Geo., a Qualified
Person within the meaning of NI 43-101. C.J. Baker,
M.Sc., the Company's regional exploration manager, is responsible for
supervising the Off Lake drill program. Nelson W. Baker, P.Eng., is the
Qualified Person for the project and the person responsible for the
contents of this news release. The Company has implemented a rigorous
QA/QC program to ensure best practices in sampling and analysis of
drill core. The procedures of the QA/QC program are detailed on Rainy River's website at www.rainyriverresources.com.
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 a $37 million treasury, the Company is well funded to
conduct an aggressive, year-round resource definition drilling program
and regional drill testing of high-priority gold targets. The Company's
property is extremely well located in western 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. 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.
Nelson W. Baker, President
Table I From To Width Au Hole (m) (m) (m) (g/t) Trend NR08-242 235.0 236.5 1.5 15.04 HS Trend NR08-253 132.5 197.0 64.5 2.58 17/ODM Including 132.5 144.5 8.0 7.40 17/ODM (upper) Including 194.0 197.0 3.0 7.42 17/ODM (lower) Note: All intersected widths are estimated to be true width intervals and all gold values listed above are uncut.
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, 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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