News Release No. 12-11
Resumption of Drilling Announced at Marshall Lake Copper, Silver and Gold Property, Ontario
West Vancouver, British Columbia – December 10, 2012 – Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is pleased to announce that its joint venture partner, White Tiger Mining Corp. (“White Tiger” TSX-V:WTC), has reported that DJ Drilling of Aldergrove, British Columbia, has resumed drilling at the Marshall Lake property, which continuing drill program has been designed by White Tiger to test the continuity of the copper, silver and gold mineralization in the “RM Zone” and the “RM South Zone”.
The Marshall Lake property is an advanced stage copper (Cu), silver (Ag) and gold (Au) 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 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.
This news release has been reviewed and approved by Gordon Gibson P.Geo., who is acting as the Company’s Qualified Person for the Marshall Lake 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.