-High Grade intersections at 4,500 feet below surface including 2.35 oz/ton gold over 2.3 feet-
-Other intercepts include 0.41oz/ton gold over 13.1 feet, 13.34 oz/ton gold over 1.6 feet-

Rubicon Minerals Corporation (RMX.TSX: RBY.NYSE-AMEX) is pleased to provide an update of drill results at its 100%-owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold District of Ontario. New results continue to expand the F2 Gold system, where 83,500 metres of drilling have been completed to date. Significant new results are summarized below ...

• Drill hole F2-64-W1 has returned several intercepts at a vertical depth of between 4,426 and 4,540 feet below surface (1,349 and 1,384 metres). These include 2.35 oz/ton gold over 2.3 feet (80.7 g/t gold over 0.7 metres) and associated lower grade gold mineralization. These represent the deepest high-grade hits to date and confirm the depth potential of the F2 gold system. ...

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The conclusions of Laney and Piper, 1926, that " the high grade ores on WEM may be expected to continue as good ores to depths much greater than any thus far reached..." are borne out by these results at 4,500 feet below surface. It doesn't seem much of a stretch to presume that our Au deposit may go to similar depths at comparable Au/t.