Rainy River Resources Announces Option Grant
June 07 2011 - 3:49PM
Marketwired
Rainy River Resources Ltd. (TSX VENTURE: RR) (the "Company")
announces that it has granted options to acquire a total of 25,000
common shares of the Company to an employee at the exercise price
of $10.00 per share for a period of five years, subject to vesting.
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 over
CAN$125million in cash and short term investments, 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 pre-feasibility 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 the south western 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. 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 fact, that address events or
developments that the Company expects to occur, are forward looking
statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or
"should" occur. Although the Company 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 may differ materially from
those in forward-looking statements. Factors that could cause the
actual results to differ materially from those in forward-looking
statements include gold prices, results of exploration and
development activities, regulatory changes, defects in title,
availability of materials and equipment, timeliness of government
approvals, continued availability of capital and financing and
general economic, market or business conditions. The Company
cautions that the foregoing list of important factors is not
exhaustive. Investors and others who base themselves on the
Company's forward-looking statements should carefully consider the
above factors as well as the uncertainties they represent and the
risk they entail. The Company believes that the expectations
reflected in those forward-looking statements are reasonable, but
no assurance can be given that these expectations will prove to be
correct. Please see the public filings of the Company at
www.sedar.com for further information.
The TSX Venture Exchange has not reviewed and does not accept
the responsibility for the adequacy or accuracy of this news
release.
Contacts: Rainy River Resources Ltd. Indi Gopinathan Director,
Investor Relations 416-645-7289
igopinathan@RainyRiverResources.com
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