Press release from Marketwire
Rainy River Resources to Open Toronto Stock Exchange on November 23, 2011
Wednesday, November 23, 2011
TORONTO, ONTARIO--(Marketwire - Nov. 23, 2011) - Rainy River Resources Ltd. ("Rainy River" or the "Company") (TSX:RR) will open the market at the Toronto Stock Exchange on Wednesday, November 23, 2011.
"We are very pleased to have the opportunity to formally recognize our graduation to the main TSX board from TSX Venture Exchange, and look forward to further increasing our visibility to investors on this premier global mining exchange," said Raymond Threlkeld, President and CEO.
Rainy River has received a robust Preliminary Economic Assessment (refer to press release dated Nov. 9, 2011) and the Company plans to continue its aggressive drill program and further the exploration of district targets through late 2011 and 2012. With a seasoned management team in place, and a strong balance sheet, the Company is well positioned to achieve its objectives.
About Rainy River
Rainy River is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project. With over $105 million in cash and securities, 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 prefeasibility studies, and 2) selective diamond drill testing of high-priority gold targets defined primarily by RC drilling within the large gold system centred in Richardson Township. The Company's property is very 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 in Canada. 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 facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
FOR FURTHER INFORMATION PLEASE CONTACT:
Indi Gopinathan Rainy River Resources Ltd. Director, Investor Relations 416-645-7289 igopinathan@RainyRiverResources.com www.rainyriverresources.com