News Release

News Release

• Rainy Mountain Royalty
• November 3, 2010

Rainy Mountain Receives Exploration Results On The Marshall Lake Joint Venture Property, Ontario

West Vancouver, British Columbia – November 3, 2010 –  Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is pleased to report that its joint venture partner, White Tiger Mining Corp. (“White Tiger”), has announced that a phase one, core drilling program on the Marshall Lake Property has resulted in an exciting new high grade discovery of copper (Cu), silver (Ag) and gold (Au).

By way of background, 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. The Marshall Lake Property is located 30 km west of Nakina, Ontario and is accessible by all weather gravel road from Hwy 11 and the main CNR rail line is within 22 km to the south of the Property.

White Tiger (TSX-V:WTC) has reported in its news release of today that under its phase one program, three holes were drilled in a north-south section, 25 metres south or beneath drill hole GAZN-08-07 and west of drill hole GAZN-08-06 and all three drill holes intersected copper sulphide zones. According to White Tiger, wide zones of disseminated sulphides were seen in all of the holes and within the disseminated sulphide envelope there are two distinct zones of semi massive sulphides (one being associated with high silica rhyolite and the other being associated with a footwall chlorite alteration-shear zone). White Tiger also indicated that continuity of the sulphide intercepts has been established between the holes.

As well, White Tiger reported that during its current drill program, the strike length of the sulphides has been traced for 125 metres towards the historical Lease Zone, which is 200 metres further to the west. As a result, White Tiger believes that the current "RM Zone" (formerly referred to as the North Gazooma Zone) has a potential 325 metre strike length of copper occurrence.

In White Tiger’s news release of November 3, 2010, Ron Coombes, President and CEO of White Tiger said that "We are very pleased with the results from the initial phase of drilling on the Marshall Lake Property.  It is very encouraging that the zone of copper mineralization has extended westward with remarkable continuity".

The following is a summary of White Tiger’s drilling program and assay results received to date:

Drill Hole Summary

Drill Holes GAZN-10-10, GAZN-10-11 and GAZN-10-15 were all drilled in a north-south section beneath drill hole GAZN-08-07, thus creating a 4 hole cross section.  All of these holes intersected high silica rhyolite with disseminated and stringer chalcopyrite. A deeper hole beneath GAZN-10-15, as well as eastern and western step-outs, have also been drilled and assay results are pending.  An orientation and location hole, GAZN-10-09, was also drilled but did not encounter significant mineralization.

Drill hole GAZN-10-10; a 25 metre southern step out from drill hole GAZN-08-07, intersected 78 metres of 0.42% Cu, 2.05g/t Ag and 0.09g/t Au, including a 5 metre intersection grading 1.89% Cu, 12.04g/t Ag and 0.7g/t Au.

Drill hole GAZN-10-11; a 25 metre southern step out from drill hole GAZN-10-10, intersected 32.6 metres of 1.04% Cu, 5.13g/t Ag and 0.15g/t Au, including a 5 metre intersection grading 3.53% Cu, 18.16g/t Ag and 0.52g/t Au.  This hole also included this program’s highest grade sample to date, grading 9.32%Cu, 49.8g/t Ag and 1.12g/t Au over a 1 metre interval.

Drill hole GAZN-10-15; a 25 metre southern step out from drill hole GAZN-10-11, intersected 23 metres of 1.34% Cu, 6.75g/t Ag and 0.29g/t Au, including a 5 metre intersection grading 4.08% Cu, 20.6g/t Ag and 1.12g/t Au.

Hole Number	From (metres)	To (metres)	Width (metres)	Cu (%)	Ag (g/tonne)	Au (g/tonne)
GAZN-10-10	38	116	78.0	0.42	2.05	0.09
Including	111	116	5.0	1.89	12.04	0.70
GAZN-10-11	82	143	61.0	0.69	3.4	0.11
Including	110.4	143	32.6	1.04	5.13	0.15
Including	117	122	5.0	3.53	18.16	0.52
Including	120	121	1.0	9.32	49.8	1.12
GAZN-10-15	149	172	23.0	1.34	6.75	0.29
Including	155	160	5.0	4.08	20.6	1.12
Including	157	159	2	7.25	35.9	2.03

 

In light of the success of this first exploratory phase, White Tiger has indicated that a second stage of follow-up drilling is now being planned.

As reported by White Tiger, drill core was split at a secure facility in Thunder Bay, Ontario 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% Cu were re-assayed with ore grade ICP and Aqua Regia digestion.  Gold analysis was done by fire assay with AA ("Atomic Absorption") finish.

This news release has been reviewed and approved by Robert Middleton, P.Eng., who is acting as Qualified Person for Rainy Mountain and White Tiger for the Marshall Lake Property project in accordance with regulations under NI 43-101.

For further information, contact Mr. Clive Shallow, investor communications at 604-922-2030 or visit the Company’s new website atwww.rmroyalty.com

Rainy Mountain Royalty Corp.
"Ronald A. Coombes"
Ronald A. Coombes, President & 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”. 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. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. 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.