News Release No. 11-04
White Tiger Mining Corp. Confirms, Two Significant Chalcopyrite Zones Intersected In Further Drilling
On Thursday, April 7, 2011 (at approximately 12:15 pm), the Company requested a halt in the trading of its shares to facilitate the orderly dissemination of further news regarding the Company’s Marshall Lake Project, Ontario. The Company resumed trading on Monday, April 11, 2011 at the opening of the market with the announcement of the following:
West Vancouver, British Columbia – April 11, 2011 – Further to the Company’s news release dated April 5, 2011, Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is very pleased to announce that its joint venture partner, White Tiger Mining Corp. (“White Tiger” – TSX-V:WTC) has reported the results for its second drill hole (RMZ11-23), as part of the White Tiger’s phase two exploration drilling program currently underway on its Marshall Lake “RM Zone” discovery. The Marshall Lake Property is a 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 11, 2011 that the results from drill hole (RMZ11-23) have confirmed the same two significant zones that were intersected by White Tiger in drill hole RMZ11-21. Drill hole RMZ11-23 is located 25 metres to the south of the first drill hole (RMZ11-21) at the same azimuth and dip angle. The second drill hole was designed by White Tiger to confirm the zones down dip and to assist in establishing the true width of the zones intersected in the first drill hole. White Tiger has also indicated that a third drill hole (RMZ11-24) is now underway and is located 75 metres to the north of drill hole RMZ11-21.
As reported by White Tiger, the first zone of drill hole RMZ11-23 intersected minor mineralization from surface to 30 metres. However, from 30 metres to 213.3 metres, the drill hole intersected mineralization similar to the fragmental stringer zone encountered in drill hole RMZ11-21. From 213.3 metres to 216.1 metres, drill hole RMZ11-23 intersected a mafic dike. From 216.1 metres to 224.6 metres, drilling intersected a chalcopyrite mineralized rhyolite and from 224.6 metres to 232.9 metres, drilling intersected a chalcopyrite mineralized mafic dike. A second lower zone for RMZ11-23 (similar to that of RMZ 11-21) was confirmed from 232.9 metres to 303 metres (for a longer total length of 67 metres), which is interpreted by White Tiger to be an extension of the RM Zone, as previously announced for drill holes RMZ10-10, RMZ10-11 and RMZ10-15 (see Rainy Mountain’s and White Tiger’s news releases dated November 3, 2010).
According to White Tiger, drill hole RMZ11-23 is now the longest and most continuous mineralized drill intersection that it has completed on the Marshall Lake Property to date.
As reported by White Tiger, prior to drilling hole RMZ11-23, White Tiger collared a tentative drill hole (RMZ11-22) located approximately 50 metres to the west (along strike) of RMZ11-21. However, in light of the drilling results encountered from drill hole RMZ11-21, White Tiger decided to delay drilling RMZ11-22 to a later date and proceeded with drill hole RMZ11-23 in an effort to determine the true width of the zones intersected in drill hole RM11-21.
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 drill results to date, assays for core drill holes RMZ11-21 and RMZ11-23 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 is being 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 Rainy Mountain. 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, Shareholder Communications at 604-922-2030, Robert A. Young, Investor Relations at 604-682-5123 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.