News Releases: No. 10-05
Rainy Mountain Grants Option on Gold Property in Olsen Township, Sault Ste Marie, Ontario
West Vancouver, British Columbia – March 5, 2010 – Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is pleased to announce that, subject to regulatory approval, it has entered into an an option agreement (the “Agreement”) dated March 2, 2010 with Black Panther Mining Corp. of West Vancouver, BC (“Black Panther”) to allow Black Panther to acquire up to a 50% interest in a 234 claim unit gold property (the “Property”) located approximately 60 km north of Sault Ste. Marie and 48 km east of Batchawana Bay, Ontario. Under the Agreement, Black Panther is required to incur $250,000 in exploration expenditures on the Property by March 2, 2011 (to acquire a 30% interest) and to incur an additional $250,000 in exploration expenditures on the Property by March 2, 2012 (to acquire a 50% interest). Black Panther and Rainy Mountain have certain common directors.
For further information, contact Mr. Clive Shallow, investor communications, at 604-922-2030 or visit the Company’s website at www.rmroyalty.com (an updated Rainy Mountain Royalty Corp. website is currently being developed).
Rainy Mountain Royalty Corp.
"Douglas L. Mason"
Douglas L. Mason, CEO