News Release No. 11-03
White Tiger Mining Corp. Intersects Two Significant Chalcopyrite Zones within the RM Zone, Marshall Lake Project, near Thunder Bay, Ontario
West Vancouver, British Columbia – April 5, 2011 – Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is very pleased to report that its joint venture partner, White Tiger Mining Corp. (“White Tiger”-TSX-V:WTC), has announced the current progress of its phase two exploration drilling program currently underway on its Marshall Lake “RM Zone” discovery. The Marshall Lake Property is an advanced stage copper, silver and gold exploration project located 30 km west of Nakina, Ontario (access is via good all weather gravel road from Hwy 11 and 22 km north of the main CNR rail Line).
White Tiger has reported in its news release of April 5, 2011 that the first drill hole (RMZ11-21) of its Marshall Lake Property phase two drill program has intersected two significant zones. The first zone consists of 101 metres of chalcopyrite stringer followed by a second zone of 57 metres, which is interpreted by White Tiger to be an extension of the RM Zone (from previous drill holes RMZ10-10, 11 and 15). The RMZ11-21 core drill hole is the longest and most continuous mineralized drill intersection that White Tiger has completed on the Marshall Lake Property to date.
As indicated by White Tiger, drill hole RMZ11-21 is located 100 metres east of the “Lease Zone” showing where historical assays from 1961 were reported as 1.58% copper over 15 metres in core length and 2.0% chalcopyrite over 31.5 metres [note: such historical results do not meet NI 43-101 standards and therefore should not be relied upon, however, White Tiger’s Qualified Person believes the historical assays are relevant and were completed by competent persons to the standards of the period in which the assays were completed.]
As reported by White Tiger, drill hole RMZ11-21 intersected mineralization just 3 metres from surface to a depth of 106 metres for a total mineralized core length of 103 metres. The second zone within the drill hole (from 132 metres to 190 metres) intersected chalcopyrite mineralization and from 147 metres to 190 metres White Tiger believes that the chalcopyrite mineralization improves significantly. The drill hole entered into a porphyry-crystal tuff at 190 metres and the drill hole was terminated at a depth of 202 metres.
The RM discovery drill hole (GAZN08-06), now referred to as the RM Zone, is located 300 metres northeast of core drill hole RMZ11-21, indicating a 425 metre strike length of mineralization to date. Recent IP (induced polarization) surveys suggest to White Tiger that there could be an additional 200 metres extension to the north east of the RM Zone, which could bring the total potential mineralization to 625 metres.
Although White Tiger is optimistic about its preliminary phase two drill results, assays for core drill hole RMZ11-21 are pending and will be announced when received and reviewed by White Tiger. The drill core is being split at the Marshall Lake Property camp and will be sent for assay preparation at an ALS Chemex facility in Thunder Bay, Ontario.
This news release has been reviewed and approved by Robert Middleton, P.Eng., who is acting as the Company’s Qualified Person for the Marshall Lake Property project in accordance with regulations under NI 43-101.
White Tiger has the option to earn a 50% interest in the Marshall Lake project from Rainy Mountain and Marshall Lake Mining PLC (“MLM”) by spending $4 million in exploration expenditures over 5 years and issuing 2 million shares over 4 years to RMO. As well, White Tiger has the additional option to increase its interest to 75% by incurring such additional expenditures as are necessary to take the project to bankable feasibility stage.
For further information, contact Mr. Clive Shallow, investor 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, CEO
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.