VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 24, 2010) - Rainy River Resources Ltd. (TSX VENTURE:RR) -

Highlights:

-  433 Zone continues to return high-grade gold - 221.73 g/t gold over 1.5
   metres, 62.26 g/t gold over 1.5 metres, 44.85 g/t gold over 1.5 metres 
-  New gold zone discovered 200 metres west of 433 Zone - 32.60 g/t gold
   over 1.0 metre 
-  Beaver Pond yields 22.15 g/t gold over 1.5 metres, 1.39 g/t gold over
   16.5 metres 
-  Exploratory drilling yields 12.32 g/t gold over 2.0 metres, 1,000 metres
   west of Beaver Pond Zone 
-  New gold mineralization discovered 250 metres above CAP/South Zones -
   4.43 g/t gold over 3.0 metres 

Rainy River Resources Ltd. (the "Company" or "Rainy") is pleased to announce further exploration results from the Rainy River gold project in Northwestern Ontario.

433 Zone Continues to Yield High-Grade Gold - 221.73 g/t (6.47 oz/t) Gold over 1.5 metres

Assay results for a total of five drill holes have been received from the Company's 2010 infill drilling program on the 433 Zone. Most notably, NR10-463 intersected a very impressive 221.73 g/t (6.47 oz/t) gold over 1.5 metres on the western edge of the 433 Zone within a wider, well mineralized intercept of 26.21 g/t gold over 13.5 metres. This new intersection has increased the known strike length of the 433 Zone at the -200 metre level to 145 metres. Approximately 60 metres down dip of NR10-463, a wide interval grading 0.61 g/t gold over 13.5 metres including 4.62 g/t gold over 3.0 metres was intersected in hole NR10-470.

On the eastern edge of the 433 Zone, NR09-449 intersected 8.26 g/t over 21.0 metres including three (3) gold intervals grading 20.99 g/t, (0.61 oz/t), 62.26 g/t (1.82 oz/t) and 44.85 g/t (1.31 oz/t) gold each over 1.5 metres. Length-weighted composites are outlined in Table 1.

High-Grade Gold Mineralization Discovered 200 metres West of 433 Zone

Drill holes NR09-443 and NR09-447 have both intersected new gold mineralization in a previously untested area 200 metres west of the 433 Zone at approx.120 metres below surface. NR09-443 intersected 32.60 g/t (0.95 oz/t) gold over 1.0 metres and is located 40 metres west of NR09-447 which intersected 5.77 g/t gold over 1.5 metres. These new occurrences remain open 130 metres up plunge to surface and are open down plunge to holes NR09-450 and NR10-460 which intersected 2.08 g/t gold over 1.5 metres and 2.23 g/t gold over 3.0 metres respectively. Further drilling in this area is being planned to ascertain the significance of the new intersections.

Beaver Pond Drilling Program Demonstrates Continuity of High-Grade Gold

Assay results for a total of seven initial drill holes have been received for the 2010 Beaver Pond winter drilling campaign. The focus of the 2010 program is to further define the new and underexplored high-grade gold intersection discovered in hole NR09-446 which graded 352.84 g/t (10.29 oz/t) gold over 6.0 metres (previously disclosed in the Company's news release dated January 18, 2010). NR10-462 was successful in demonstrating the short range drill hole to drill hole continuity of this new high grade gold zone having intersected 22.15 g/t (0.64 oz/t) gold over 1.5 metres at 233 metres below surface and approximately 15 metres along strike to the east of NR09-446. This intersection has extended the known strike length of the high-grade zone at the -240 metre level to 30 meters and the high grade mineralization remains open along strike and plunge. Additional drilling has been completed at the Beaver Pond Area and assay results are pending.

Step-Out Exploration Drilling Yields High-Grade Gold 1,000 metres West of Beaver Pond Zone

The ongoing exploration drilling west of the known gold resources has been successful in discovering a new gold occurrence in hole NR10-456 grading 12.32 g/t gold over 2.0 metres at a vertical depth of 231 metres below surface. This new occurrence is hosted in the same intensely altered, sheared dacitic volcanic rocks that are characteristic of the Beaver Pond and ODM Zones. Hole NR10-455, which is located 100 metres east of NR10-456 intersected sporadic gold mineralization as outlined in Table 1. Follow-up drilling of this area will be a top priority for the 2010 exploration program.

New Gold Occurrence Discovered at Surface above CAP/South Zones Trend

A new occurrence of gold mineralization has been discovered 250 metres stratigraphically above the CAP/South trend with an intersection in hole NR10-444 grading 4.43 g/t gold over 3.0 metres. The gold intersection occurs at the bedrock-overburden contact only 25 metres below surface and as such, its full thickness may not have been completely tested. To date, this is one the southernmost gold intersections - this new information potentially increases the true north-south thickness of the known mineralized stratigraphic package to 1,000 metres and substantially expands the exploration potential for this underexplored portion of the project area.

Additionally, NR10-444 intersected 2.40 g/t gold over 9.0 metres in the South Zone at a vertical depth of 369 metres below surface and 0.81 g/t gold over 24.0 metres in the ODM "Deeps". Follow-up drilling of this new surface gold occurrence is currently being planned.

Titan Anomaly

Hole NR10-458 was drilled further south than the other holes and targeted a deep Titan geophysical anomaly suggestive of volcanogenic massive sulphide (VMS) mineralization in the upper dacites. No major sulphide concentrations were encountered but strong kyanite alteration (acid leaching), similar to that associated with the La Ronde VMS deposit in the Bousquet district, Quebec, was intersected in the overlying rhyolites. Also, at greater depth, the hole returned 15.0 metres grading 0.67 g/t gold from the Cap Zone.

Comments

"We are tremendously encouraged by the fact that with every drill hole that we put in the ground and the closer we space those holes, we are continuing to define more high-grade gold," commented Raymond Threlkeld, President and CEO. "In addition to the good high-grade continuity in the 433 Zone, the discoveries of new high grades 1000 metres to the west and a new zone on the south expands our mineralized stratigraphic column to over 1000 meters thick and over 1000 metres west beyond our current resources, illustrating the potential of Rainy River as a major gold district. We continue to achieve good results from the high grade Beaver Pond Zone and still have untested gold geochemical targets that can further the potential of the Rainy River project as a whole. We have drilled over 21,000 metres since mid January and will continue with a very aggressive pace to expand our resources and provide a preliminary economic assessment on open pit and underground mining options by the end of the third quarter."