Rainy River Resources
NI 43-101 Resources of 3.42M oz. Au Indicated and 3.17M oz. Au Inferred (Feb. 2011)
Message: Cancels 725,000 Director Options
| March 18, 2009 |
| Rainy River Cancels 725,000 Director Options |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2009) - Rainy River Resources Ltd. (TSX VENTURE:RR) announces that options to acquire an aggregate of 725,000 common shares with exercise prices ranging from $4.12 to $5.25 held by certain directors of the Company have been voluntarily surrendered for cancellation. 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 $26.5 million treasury, the Company is well funded to conduct a dual-focused program consisting of: 1) definition diamond drilling of the main gold resource with accompanying scoping-style 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 northwestern 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. 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 |
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