TSX: RMX | OTCQX: RBYCF

Rubicon Minerals Corporation (TSX: RMX | OTCQX: RBYCF) ("Rubicon" or the "Company") announces that it has changed the format of its upcoming Annual General and Special Meeting of Shareholders (the "Meeting") on Monday, June 22, 2020 at 10:00 am (Toronto time) to a virtual-only meeting via live audio webcast. The Meeting will no longer be hosted at a physical location and shareholders will not be able to attend physically.

The decision to conduct a virtual-only Meeting was made with the health and safety of Rubicon's shareholders, stakeholders, and employees in mind due to the current circumstances surrounding the COVID-19 pandemic.

Registered shareholders and duly appointed proxyholders attending the Meeting via a live audio webcast will be able to fully participate, vote, or submit questions during the Meeting. Others wishing to attend the Meeting can do so as guests, and will be able to listen to the live audio webcast of the Meeting, but will not be able to vote or submit questions during the Meeting.

Virtual-Only Meeting

To access the virtual Meeting, which will be broadcasted via live audio webcast on Monday, June 22, 2020 at 10:00 a.m. (Eastern Time), please visit https://web.lumiagm.com/224955177 and follow the instructions. For full details on how to participate in the Meeting online, it is important that you refer to the information circular for the Meeting ("How Do I Participate In and Vote at the Live Audio Webcast of the Meeting?") and the "Virtual Meeting User Guide", both of which are available on the Company's website at https://rubiconminerals.com/Investor-News/Events-Annual-Meeting/default.aspx.

Meeting Materials

The Company used the notice-and-access model provided under National Instrument 54-101 ("Notice and Access") for the delivery of the Circular, the Company's Audited Consolidated Financial Statements and the Management's Discussion & Analysis for the financial period ended December 31, 2019 (the "Meeting Materials"), to its shareholders.

The Company has mailed paper copies of the Meeting Materials to those registered and beneficial shareholders who have previously elected to receive paper copies of the Company's meeting materials. All other shareholders will receive a notice and access notification, which will contain information on how they may access the Meeting Materials electronically in advance of the Meeting. The Meeting Materials are also available on the Company's website at https://rubiconminerals.com/Investor-News/Events-Annual-Meeting/default.aspx and will remain on the website for one full year thereafter. Meeting Materials are also available under the Company's profile on SEDAR at www.sedar.com.

To request a copy of the Meeting Materials in advance of the proxy deposit date and Meeting date, requests for printed copies must be received at least ten business days in advance of the proxy deposit date (i.e., by June 4, 2020) and time set out in the accompanying form of proxy or voting instruction form. Shareholders receiving a proxy form may make this request, without charge, by calling the toll free number +1-866-962-0498 in North America or +1--514-982-8716 outside of North America and entering their control number as indicated on their proxy (15--digit control number). Shareholders receiving a voting instruction form may make this request, without charge, by calling the toll free number +1-877-907-7643 in North America or +1-905-507-5450 outside of North America and entering the control number indicated on their voting instruction form (16--digit control number). To ensure you receive the Meeting Materials in advance of the proxy deposit date and Meeting date, all re quests must be received no later than June 4, 2020.

Shareholders who do not plan to attend the Meeting are requested to read the information on the reverse of the enclosed form of proxy or voting instruction form and then to complete, date, sign and deposit the form of proxy or voting instruction form in accordance with the instructions set out in the Circular and the form of proxy or voting instruction form.

About Rubicon Minerals CorporationRubicon 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 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 this news release 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 words, expressions or statements that certain actions, events or results can, could, may, should, will (or 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 include, but are not limited to statements regarding the details of the Annual General and Special Meeting of Shareholders including timing, format a nd location and business of the meeting.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and represent management's best judgment based on facts and assumptions that management considers reasonable. If such opinions and estimates prove to be incorrect, actual and future results may be materially different than expressed in the forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of Rubicon to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, those described in the Company's annual information form dated March 27, 2020 under the heading "Risk Factors" (the "2020 AIF"), the Company's management's discussion and analysis for the quarter ending March 31, 2020 (the "Q1 2020 MD&A"), and the Company's other continuous disclosure documents, all available under its profile at www.sedar.com and on the Company's website at www.rubiconminerals.com.

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 applicable securities laws. The forward-looking statements contained herein are expressly qualified by this cautionary statement, and those contained in the 2020 AIF and Q1 2020 MD&A.

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

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SOURCE Rubicon Minerals Corporation