Rainy River Resources

NI 43-101 Resources of 3.42M oz. Au Indicated and 3.17M oz. Au Inferred (Feb. 2011)

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Message: Re: Speculation on the Halt - Buyout?

I don't think it's a buyout yet. They have taken the more proactive path toward mine development so as to show that they are serious and can go it alone if required. Nelson told me that a couple years ago but now they have staffed accordingly. Maybe someone is taking a large stake in the company. I asked Liz yesterday what % had to be announced and she thought it was at about the 10% level.

Right now I think it is about some really good assays coming out of the cap, south, or beaver pond areas. They had drained it last fall and were waiting for it to freeze up and were drilling in November/December I think. Looking over the past few NR and drill maps it seems likely it is about the Southwestern zones but you never know. Could be preliminary core from a whole different target!

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