News Release No. 13-7
Rainy Mountain Announces Completion of Further Drilling
Program on the Marshall Lake Property, Ontario
West Vancouver, British Columbia – March 27, 2013 – 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 the results from its most recently completed drilling program on the Marshall Lake Property.
White Tiger has indicated that it believes that its drill program has successfully tested and confirmed reliability of the interpreted 3D geophysical target located between the “RM North East Zone” and the “RM South Zone”. This program focused on drilling a geophysical target (one of the four discrete chargeability anomalies which were interpreted with the known copper 3D grade shell model).
According to White Tiger, encouraging mineralization has been encountered in both core drill holes (RMZ 13-40 and RMZ 13-41), which explains the first of four recently identified untested 3D chargeability and conductivity isosurfaces to an effective depth of investigation of 120 metres below surface. White Tiger believes that the untested portion of the geophysical anomaly may represent the up plunge extension of mineralization to near surface (north of drill holes RMZ 13-40 and RMZ 13-41 and to the RM East Zone), which represents a surface strike distance of over 300 metres.
In White Tiger’s previously completed drilling programs (see White Tiger’s and the Company’s news releases dated November 17, 2010, December 1, 2010, April 20, 2011, May 3, 2011 and November 21, 2011), White Tiger reported significant copper mineralization (intersected over a width of 60 metres in core drill holes RMZ 11-21 and RMZ 11-23, and over a width of approximately 30 metres in drill holes RMZ 11-29, RMZ (GAZN) 10-17 and RMZ (GAZN) 10-19). According to White Tiger, these earlier results appear to be on strike with drill holes RMZ 13-40 and RMZ 13-41. Both RMZ 13-40 and RMZ 13-41 have intersected copper mineralization.
As reported by White Tiger, the drill core from this drilling program has been sampled and shipped to ALS Laboratory of Thunder Bay, Ontario and assay results will be reported by White Tiger once received and reviewed.
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.