TSX: RMX | OTCQX: RBYCF

Rubicon Minerals Corporation (TSX: RMX | OTCQX: RBYCF) ("Rubicon" or the "Company") plans to release the summary results of a new Preliminary Economic Assessment ("New PEA") on the Phoenix Gold Project (the "Project") on Monday, August 19, 2019 at 6:00am ET. The Company will host a technical session conference call and webcast at 8:30amET on the same day. Rubicon plans to file a National Instrument 43-101 technical report for the Project on www.sedar.com within 45 days of the release of the New PEA summary results.

New PEA Technical Session Details

The Company's senior management team will host a technical session conference call on Monday, August 19, 2019 at 8:30 am ET (5:30 am PT) to review and discuss the New PEA. Participants in Canada and the United States may join the conference call by dialing toll free +1 (888) 231-8191. For calls outside Canada and the United States, please dial +1 (647) 427-7450. For the webcast, please visit: https://event.on24.com/wcc/r/2068968/3DE1AE3E7A47611A6257EE81EB0E1B59

Supplementary presentation materials from the technical session will be provided on the Rubicon website www.rubiconminerals.com in the "Presentations" section following the issuance of the New PEA news release.

About Rubicon Minerals Corporation

Rubicon Minerals Corporation is an advanced gold exploration company that owns the Phoenix Gold Project, located in the prolific Red Lake gold district in northwestern Ontario, Canada. Additionally, Rubicon controls the second largest land package in Red Lake consisting of over 285 square kilometres of prime, strategic exploration ground, and more than 900 square kilometres of mineral property interests in the emerging Long Canyon gold district that straddles the Nevada-Utah border in the United States. Rubicon's shares are listed on the Toronto Stock Exchange (RMX) and the OTCQX markets (RBYCF). For more information, please visit our website at www.rubiconminerals.com.

RUBICON MINERALS CORPORATIONGeorge Ogilvie, P.Eng.President, CEO, and Director

Cautionary Statement regarding Forward-Looking Statements and other Cautionary Notes

All statements, other than statements of historical fact, contained or incorporated by reference in news release, including but not limited to any information as to the future performance of the Company, constitute "forward-looking statements" and "forward looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plan", "preliminary", "PEA", "Project", and "will", or variations of such words, and similar such words, expressions or statements that certain actions, events or results may or may not be achieved or occur in the future. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements are made as of the date of this news release, based on the expectations, assumptions, opinions and estimates of management as of the date such statements are made, which management considers reasonable, and represent management's best judgment. If such expectations, assumptions, opinions and estimates prove to be incorrect, actual and future results may be materially different than expressed or implied in the forward-looking statements. Forward-looking statements are subject to a number of known and unknown risks, uncertainties and other factors which may cause Rubicon's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and Rubicon disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applic able securities laws.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

View original content:http://www.prnewswire.com/news-releases/rubicon-minerals-set-to-release-a-new-pea-on-the-phoenix-gold-project-300902825.html

SOURCE Rubicon Minerals Corporation

View original content: http://www.newswire.ca/en/releases/archive/August2019/16/c9309.html

SOURCE: Rubicon Minerals Corporation

Allan Candelario, CFA, Director, Investor Relations and Corporate Development, Phone:
+1 (416) 766-2804 | E-mail: ir@rubiconminerals.com | www.rubiconminerals.com, Rubicon
Minerals Corporation | Suite 830-121 King St. W. | Toronto ON, CANADA M5H 3T9