Rainy Mountain Looks to Expand the Extent of the Brunswick Property Gold Structure
West Vancouver, British Columbia – January 3, 2017 – Further to its news releases dated December 2 and December 12, 2016, Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is pleased to report additional findings in connection with the Company’s recently completed exploration program and proposed grid expansion on its optioned gold exploration property (the “Brunswick Property” or “Property”) located in the Timmins area of Ontario.
The Brunswick Property covers a six mile long section of the Ridout Fault Shear Zone, which is an extension of the Larder Lake Break (fault zone), as associated with the Kirkland Lake and Larder Lake Gold Camps (the Kirkland Lake Gold Camp is 125 km northeast of the Property and the Larder Lake Gold Camp is 167 km northeast of the Property).
The recent geological mapping and outcrop sampling on the Brunswick Property have identified a 1 km (1,000m) long arsenic-antimony (“As-Sb”) anomaly, which is a potential indicator of nearby gold mineralization, along an offset extension of the larger shear zone outlined on the eastern half of the Property adjacent to the outcropping gold showing. This work suggests the extension of the gold bearing zone has been fault offset, and continues westward onto the central part of the 6 mile (10 km) long Property. An expansion of the present grid 1.8 km to the west is part of the Company’s exploration program planned for early 2017 to cover this structural offset and to fill in a gap between the As-Sb anomaly and the grid that was surveyed by the recently completed Induced Polarization Resistivity Survey (“IP Survey”) covering the gold zone. This leaves a 1.2 km prospective area adjacent to the numerous drill targets that have already been identified on the eastern grid.
Furthermore, the Company has now received results from assaying the grab samples taken from the Brunswick Property during its exploration in December 2016. Results of which yielded other scattered As-Sb anomaly areas adjacent to the gold zone and shears extending to the east of the east grid. Additional grid extensions to the east of the east grid are also planned and will be done during the winter to allow traversing of any ponds on either end of the Property.
Drilling is planned to follow up on the numerous targets located by the IP Survey and any additional targets that may turn up during the grid expansion.
Rainy Mountain is now in the process of filing a final report on work completed to date in order to meet the requirements of the JEAP Program (Junior Exploration Assistance Program) which could result in a rebate of up to 33% (approximately $50,000) of the $150,000 exploration program completed to date.
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
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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.