News Release No. 13-2
Further Drilling Assays for
the Marshall Lake Copper, Silver and Gold Property, Ontario
West Vancouver, British Columbia – February 13, 2013 – As a follow up to its news release of December 10, 2012 and in addition to the initial assay results described in its news release of December 3, 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 further infill assay results from core drill holes RMZ 12-31 and RMZ 12-32, which assay results are presented in the following table.
|Hole Number||From (metres)||To (metres)||Width (metres)||Cu (%)||Ag (g/tonne)||Au (g/tonne)|
*please note that newly reported assay results are shown in boldface print.
White Tiger has indicated that drill core was split at the Marshall Lake property and sample preparation was done by ALS Chemex in Thunder Bay, Ontario. Pulp samples (‹75 microns) were then sent by secure courier to ALS Chemex in North Vancouver, British Columbia and analyzed by ICP spectrometer (“ICP”) using a 0.5g representative pulp dissolved in Aqua Regia (3 acid) digestion. All samples grading over 1.0% copper were re-assayed with ore grade ICP and Aqua Regia digestion. Gold analysis was done on a 30 gram sample by fire assay extraction with AA (“Atomic Absorption”) finish.
As reported by White Tiger, initial assay results from drill holes RMZ 12-31, 32, 33, RMZ 12-30 and RMZ 12-37 were reported in White Tiger’s and the Company’s news releases dated December 3, 2012. Since then, White Tiger has received additional assay results from drill holes RMZ 12-31 and 32 (as reported above) and, as well, White Tiger is expecting additional infill assay results from drill holes RMZ 12-33 and RMZ 12-30. Additionally, White Tiger is also awaiting assay results from drill holes RMZ 12-34, 35, 36, 38 and 39. All pending assay results will be reported once received and analyzed.
The Marshall Lake property is an advanced exploration stage copper (Cu), silver (Ag) and gold (Au) 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 property 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. As at October 31, 2012, White Tiger has earned a 25% joint venture interest in the Marshall Lake property project.
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, 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.