Rainy Mountain Launches 2017 Exploration Program on its Brunswick Property
West Vancouver, British Columbia – March 3, 2017 – Rainy Mountain Royalty Corp. (the “Company” or “RMO”) announces that upon closing of its rights offering (see new release dated March 2, 2017), RMO is proceeding with a 2017 exploration program on its optioned gold exploration property (the “Brunswick Property” or “Property”) located in the Timmins area of Ontario.
The 2017 exploration program will begin with the expansion of the Brunswick Property 30 km gold grid to add an additional 40 km of line, which includes 800m strike to the east of the gold showing and a 2.4 km extension to the west. The purpose is to cover two porphyry occurrences that were found during the geology-prospecting done in November-December, 2016. One porphyry occurs 600m east of the gold showing (see news release dated December 2, 2016), and another occurred on the southwest corner of the grid, aligned with shears that extend west toward a large arsenic rock geochemical anomaly. The west extension of the grid will cover this arsenic-antimony anomaly and the area adjacent to the porphyry along 2-3 parallel shear zones that extend westward. A deep penetrating IP survey is planned when conditions permit. This will then give coverage along a 4.5 km portion of this 9.6 km (6 mile) property, following the Ridout Shear and 4 sub parallel shears or splays which are sericite-carbonate altered and similar to the host rocks in the gold deposits in the Porcupine Camp. The overall setting is similar to the Borden discovery to the west being in sheared basalts adjacent to Timiskaming sediments and conglomerates.
Upon completion of the grid expansion, Rainy Mountain intends to begin a drill program that will include a number of drill holes selected based on the IP grid completed to date, and additional drill targets that are expected to come from the expansion grid work.
The Brunswick Property is accessible year round by bush road connecting to Highway 560 that links to the west with Highway 144 and then north to Timmins (via Highway 101).
This news release has been reviewed and approved by Robert Middleton, P.Eng., who is acting as the Company’s Qualified Person for the Brunswick Property project, in accordance with regulations under NI 43-101.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, or visit the Company’s website at www.rmroyalty.com.
RAINY MOUNTAIN ROYALTY CORP.
“Douglas L. Mason”
Douglas L. Mason, Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.