News Release
Rainy Mountain Receives Exploration Update on the Marshall Lake Property, Ontario
West Vancouver, British Columbia – November 17, 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 additional assay results from its phase one, core drilling program on the Marshall Lake Property has been successful in extending the RM Zone 125 metres along strike. The RM Zone is just one of numerous zones of interest on the Property.
By way of background, White Tiger (TSX-V:WTC) 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.The Marshall Lake Property is located 30 km west of Nakina, Ontario. Access is 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 has reported in its news release of today that drill hole GAZN-10-13 and GAZN-10-17 have extended the mineralized zone a further 75 metres to the west and a further 25 metres to the east. According to White Tiger, this gives the RM Zone a proven strike length of 125 metres. White Tiger believes that the RM Zone continues towards the historical Lease Zone, which is 200 metres further to the west. Additionally, White Tiger reports that drill hole GAZN-10-13 opens up the possibility of an eastern extension to the deposit and that the mineralization is still open to depth and to the south.
White Tiger has also reported that, for the first time, a felsic fragmental unit has been recognized in the south hanging wall rocks that creates a distinctive marker horizon to follow both the stratigraphy and mineralization. IP survey data suggests that the mineralization continues for at least another 325 metres to the west.
As well, White Tiger reported that a zone of porphyry has also been intersected in drill hole GAZN-10-12, which is situated along the north side of the copper bearing high silica rhyolite horizon.
In White Tiger’s news release of November 17, 2010, Ronald Coombes, President and CEO of White Tiger said that “Assays continue to confirm that the new RM Zone has values of copper, silver and gold near surface over potentially mineable widths that remain open along strike to the east and west, and as well, down dip. We are now planning a phase two drill program to expand upon the extremely encouraging initial results received to date”.
The following is a summary of White Tiger’s drilling program and assay results:
Drill Hole Summary
Drill hole GAZN-10-13; a 25 metre eastern step out from the 2008 drill hole, GAZN-08-06, and a 50 metre eastern step out from the recently completed drill holes GAZN-10-10, GAZN-10-11 and GAZN-10-15 (see news release dated November 3, 2010). Drill hole GAZN-10-13 intersected a wide section of high silica rhyolite with chalcopyrite with two prominent zones which assayed 0.43% Cu, 1.77g/t Ag and 0.07g/t Au over 14 metres and 0.44% Cu, 2.48g/t Ag and 0.24g/t Au over 31.5 metres. These zones contained some promising intersections, including a 0.5 metre sample of 3.35% Cu and 20.0g/t Ag and a 1 metre sample containing 5.21g/t Au.
Drill hole GAZN-10-17; a 75 metre western step out from previously released drill hole GAZN-10-15 intersected a 37 metre wide zone of high silica rhyolite containing wide spread chalcopyrite and a footwall chloritic alteration zone with higher concentrations of chalcopyrite. The mineralization and lithology encountered is identical to the zones found in drill holes GAZN-10-10, GAZN-10-11 and GAZN-10-15, located in section, 75 metres to the east, as well as in the historical drill holes GAZN-07-02 and GAZN-08-06, located 100 metres to the east of drill hole GAZN-10-17. Assays from drill hole GAZN-10-17 yielded 0.48% Cu, 2.07g/t Ag and 0.04g/t Au over 37 metres, including 1.12% Cu, 5.87g/t Ag and 0.13g/t Au over 7.2 metres.
The assay results for drill holes GAZN-10-13 and GAZN-10-17 are as follows:
| Hole Number | From (metres) | To (metres) | Width (metres) | Cu (%) | Ag (g/tonne) | Au (g/tonne) |
| GAZN-10-13 | 91 | 155 | 64 | 0.37 | 1.92 | 0.15 |
| Including | 91 | 105 | 14 | 0.43 | 1.77 | 0.07 |
| And | 123.5 | 155 | 31.5 | 0.44 | 2.48 | 0.24 |
| Including | 123.5 | 130 | 6.5 | 0.81 | 4.63 | 0.11 |
| Including | 123.5 | 124 | 0.5 | 3.35 | 20.0 | 0.18 |
| And | 152 | 153 | 1 | 1.05 | 8.0 | 5.21 |
| GAZN-10-17 | 99 | 136 | 37.0 | 0.48 | 2.07 | 0.04 |
| Including | 128.8 | 136 | 7.2 | 1.12 | 5.87 | 0.13 |
As well, previous assay results, as reported in White Tiger’s News Release dated November 3, 2010, are as follows:
| 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 | 2.0 | 7.25 | 35.9 | 2.03 |
Additional assay results from White Tiger’s phase one drill program are still pending and are expected to be released in the upcoming weeks.
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 website atwww.rmroyalty.com.
Rainy Mountain Royalty Corp.
“Douglas L. Mason”
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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.
