Rainy River Intersects 942.6 g/t (27.5 oz/ton) Gold Over 3.0 Metres in Newly Discovered "Gap" Zone

ccnm






TORONTO, ONTARIO--(Marketwire - Feb. 28, 2011) - Rainy River Resources Ltd. (TSX VENTURE:RR) (the "Company" or "Rainy") announces further assay results from the Rainy River Gold Project ("RRGP") in Northwestern Ontario. These results comprise the remaining 2010 drill campaign and include the first round of assays from the 2011 exploration program. None of this data has been included in the latest NI 43-101 resource estimate (3.42 M oz Measured & Indicated, 3.17 M oz Inferred, see news release dated February 24, 2011) for the RRGP. All results are summarized in Table 1, below. Significant intercepts are discussed below.


To see images associated with this release please go to the following link: http://media3.marketwire.com/docs/rr228image.pdf.




Highlights




942.6 g/t (27.5 oz/ton) gold and 54.2 g/t (1.5 oz/ton) silver over 3.0 m in newly discovered Gap Zone between ODM and Beaver Pond Zones


4.7 g/t gold over 7.5 metres in the Gap Zone


2.7 g/t gold over 37.5 m in 17 Zone, including 5.0 g/t gold over 15.0 m


1.4 g/t gold over 33.0 m in South Zone


HS Zone potential expands westward - 41.4 g/t gold over 1.5 m






ODM/17 Zone




Drilling within the ODM/17 Zone continues with efforts focused on the gap between the western ODM and the Beaver Pond Zones (referred to as the Gap Zone). Drill hole NR10-633 intersected several intervals of high-grade gold mineralization, with the most significant interval grading 942.5 g/t gold over 3.0 m, including 1,845.0 g/t gold and 99.2 g/t silver over 1.5 m and 40.1 g/t gold and 9.1 g/t silver over 1.5 m. This intersection lies approximately 150 metres east of a previously-announced high-grade intersection from the Beaver Pond Zone (352.8 g/t gold over 6.0 m in hole NR09-446, see press release dated January 18th, 2010) at a similar elevation and represents a new area for exploration. Each of these intercepts contained notable quantities of visible gold. A second interval within the GAP Zone, and lying approximately 15 metres above this high-grade interval in hole NR10-633, assayed 4.7 g/t gold over 7.5 m.


Further downhole in NR10-633 a third high-grade intersection was discovered within the HS Zone corridor, grading 41.4 g/t gold over 1.5 m. This intersection lies approximately 400 metres west of the main HS Zone mineralization and opens up the potential for a western expansion of the HS Zone.


On the east side of the deposit, drill hole NR10-620 intersected a shallow intercept in the 17 Zone grading 2.7 g/t gold over 37.5 m, including 5.0 g/t gold over 15.0 m (including 12.0 g/t gold over 1.5 m and 28.9 g/t gold over 1.5 m). This intercept lies approximately 50 metres below the surface. Deeper within the 17 Zone drill hole PE1003 intersected 48.8 g/t gold over 1.5 m in the hanging wall at a depth of 200 metres. Also in the ODM/17 Zone, drill hole NR10-612 intersected a 66.0-metre wide interval grading 1.2 g/t gold, including 7.1 g/t over 1.5 m and 6.3 g/t gold over 1.5 m, at a depth of 400 metres below the surface.




South Zone & Western Area




Results from the South Zone continue to show encouraging intercepts of gold mineralization. This area is an important component of the 2011 exploration program, where the possibility exists to add shallow resources for an open pit operating scenario both to the south and along strike. Recent assay results include 1.4 g/t gold over 33.0 m in hole SZ1001, 0.6 g/t gold over 15.0 m in NR10-612, 0.7 g/t gold over 42.0 m in NR10-619 and 1.1 g/t gold over 9.0 m in hole NR10-625.


Grass roots exploration in a new area approximately 800 metres northwest of the Beaver Pond Zone, termed "Western Area", has returned encouraging results including 1.1 g/t gold over 4.5 m and 0.6 g/t gold over 22.5 m in drill hole R10-618. Hole CP1002 returned similar values, with 0.5 g/t gold over 7.5 m and 1.1 g/t gold over 4.5 m, near surface.




Commentary




"These initial results from our 2011 drill program are an excellent beginning to expand our resources from our recently announced NI 43-101 resource estimate," commented Raymond Threlkeld, President and CEO. "The area between the Beaver Pond and ODM Zones is possibly another high-grade structural shoot, similar to others we've seen throughout the deposit. The discovery of gold-bearing mineralization over 800 metres along strike in the newly discovered Western Area to the northwest of Beaver Pond opens up significant untested exploration potential."




Qualified persons




Rainy River's exploration program in Richardson Township is being supervised by Kerry Sparkes, P.Geo. Vice-President Exploration, a Qualified Person as defined by National Instrument 43-101. Garett Macdonald, P.Eng., Vice President Operations and Kerry Sparkes P.Geo. are the persons responsible for the content of this news release. The Company continues to implement a rigorous QA/QC program to ensure best practices in sampling and analysis of drill core. All drill core is marked for sampling and then split in half with a diamond saw blade. Samples are placed in sealed bags with security tags. All samples were assayed using a standard fire assay, 30 gram nominal sample weight with an AA finish. Over-limit samples were re-assayed with a gravimetric finish. Samples with visible gold were automatically analyzed for Ore Grade by 1000g screen fire assay, with coarse and fine fractions being combined proportionately and the fine fraction being assayed twice. Standards, blanks and duplicates are inserted every 25 metres. ALS Canada Ltd. performed primary assaying, with duplicates being analyzed at Activation Laboratories Ltd. ALS Canada Ltd. and Activation Laboratories Ltd. implements independent QA/QC protocols that include the insertion of certified blanks and standards as part of their routine analysis.




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$130 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. The Company is also working to advance the early-stage discoveries at its TPK Joint Venture Property, also in Ontario, where it can earn a 51% interest in the property from Northern Superior Resources. 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.





Table 1 Summary of Results









Hole-ID


Section


Elevation


From (m


)


To (m


)


Length (m


)


Au g/t


Comments




CP1001
424127
54
66.5

68.0

1.5

1.1
WESTERN AREA




424124
132
165.5

167.0

1.5

1.7
WESTERN AREA




424123
177
224.0

225.5

1.5

1.1
WESTERN AREA



CP1002
424173
58
68.0

75.5

7.5

0.5
WESTERN AREA




424170
145
179.0

183.5

4.5

1.1
WESTERN AREA



PE1001
426248
94
115.3

116.0

0.7

2.3
HW 17




426260
491
594.5

600.5

6.0

3.0
EAST 17



PE1002
426283
508
618.5

621.5

3.0

2.0
EAST 17




426286
547
666.5

668.0

1.5

1.1
EAST 17



PE1003
426251
160
198.5

200.0

1.5

48.8
HW 17



SZ1001
425121
409
430.5

463.5

33.0

1.4
SOUTH




425165
694
778.5

780.0

1.5

1.4
ODM DEEPS




425167
701
787.5

789.0

1.5

1.1
ODM DEEPS



NR10612
425280
206
213.5

228.5

15.0

0.6
SOUTH




425314
489
512.0

578.0

66.0

1.2
ODM DEEPS




INCL
425312
478
531.5

533.0

1.5

7.1
ODM DEEPS




AND
425316
506
564.5

566.0

1.5

6.3
ODM DEEPS



NR10614
426049
68
72.0

81.0

9.0

0.9
17 ZONE



NR10615
426126
48
44.0

54.5

10.5

0.8
17 ZONE



NR10616
426147
73
85.5

114.0

28.5

0.8
17 ZONE



NR10618
424225
58
69.5

74.0

4.5

1.1
WESTERN AREA




424225
102
116.0

138.5

22.5

0.6
WESTERN AREA



NR10619
425139
386
393.0

435.0

42.0

0.7
SOUTH




425170
691
762.0

763.5

1.5

3.8
ODM DEEPS




425174
715
790.5

791.5

1.0

16.3
ODM DEEPS



NR10620
425243
267
62.0

99.5

37.5

2.7
17 ZONE




INCL
426150
65
71.0

86.0

15.0

5.0
17 ZONE




INCL
426150
59
71.0

72.5

1.5

12.0
17 ZONE




AND
426149
71
84.5

86.0

1.5

28.9
17 ZONE



NR10620
426149
94
111.5

113.0

1.5

1.7
17 ZONE



NR10621
NSA



NR10622

59
74.0

75.5

1.5

1.1
WESTERN AREA



NR10623
425924
64
69.5

74.0

4.5

0.5
HS




425922
200
216.5

243.5

27.0

0.6
HS



NR10624
NSA



NR10625
425134
346
382.5

391.5

9.0

1.1
SOUTH



NR10626
424479
332
417.5

419.0

1.5

2.0
WESTERN AREA



NR10627
NSA



NR10628
425926
79
93.5

95.0

1.5

1.0
HS




425926
122
146.0

147.5

1.5

1.5
HS




425926
213
257.0

258.5

1.5

4.2
433 EAST



NR10629
425046
451
471.0

489.3

18.3

1.0
SOUTH




425081
689
753.0

754.5

1.5

1.2
ODM DEEPS




425085
712
780.0

781.5

1.5

0.4
ODM DEEPS




425087
722
792.0

793.5

1.5

1.8
ODM DEEPS




425087
727
798.0

799.5

1.5

1.3
ODM DEEPS



NR10630
425900
50
57.5

63.5

6.0

1.2
HS




425900
68
80.0

84.5

4.5

2.1
HS



NR10631
424425
74
93.3

95.0

1.7

1.4
WESTERN AREA



NR11632
425948
60
74.0

75.5

1.5

1.2
HS




425944
148
186.5

188.0

1.5

1.5
FW 433



NR11633
425033
152
189.0

190.5

1.5

1.4
HW GAP




425031
189
235.5

243.0

7.5

4.7
THE GAP




INCL
425031
190
238.5

240.0

1.5

17.3
THE GAP




425030
205
256.5

259.5

3.0

942.6
THE GAP




INCL
425030
204
256.5

258.0

1.5

1845.0
THE GAP




AND
425030
205
258.0

259.5

1.5

40.1
THE GAP




425026
262
333.0

334.5

1.5

2.5
FW GAP




425020
343
442.5

444.0

1.5

41.4
HS




425018
384
499.3

501.0

1.7

5.2
HS



NR11634
425019
61
69.0

70.5

1.5

1.2
HW CAP




425018
87
102.0

103.5

1.5

1.5
HW CAP



NR11635
425019
426
522.0

523.5

1.5

1.4
HW ODM GAP




425023
471
580.5

582.0

1.5

1.9
HW ODM GAP




425026
508
604.5

657.0

52.5

1.1
ODM DEEP GAP




INCL
425024
489
604.5

606.0

1.5

10.1
ODM DEEP GAP



NR11638
425631
129
158.0

159.5

1.5

1.2
433 WEST




425634
182
218.0

230.0

12.0

0.8
433 FW








FOR FURTHER INFORMATION PLEASE CONTACT: Liz Caridi
Rainy River Resources Ltd.
Director of Investor Relations and Corporate Governance
(604) 639-4497
lcaridi@rainyriverresources.com
www.rainyriverresources.com