News Release No. 13-5
Rainy Mountain Announces 3D Modeling Completed for the
Marshall Lake Property, Ontario
West Vancouver, British Columbia – March 4, 2013 – Rain 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 that it has completed new survey control of cut grid lines within and adjacent to the RM Zone copper discovery on its Marshall Lake property. The new survey was conducted using a Trimble ProXRT2 with OmniStar XP real-time differential GPS to sub metre (nominally 30 cm) accuracy. White Tiger then commissioned Caracle Creek International of Toronto to reinterpret previously obtained surface IP (Induced Polarization) data read from the grid. White Tiger is now in receipt of an unconstrained 2D inversion of said data, interpolated and expressed as 3D chargeability and conductivity isosurfaces to an effective depth of investigation of 120 metres below surface. Four discrete chargeability anomalies are apparent, which when interpreted with the copper 3D grade shell model, appear to further define the RM copper zones, with the best geophysical responses yet to be tested.
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 is presently analyzing recently received assay results and is still awaiting additional assay results for the remainder of holes drilled in White Tiger’s recently completed drilling program. White Tiger will announce the remaining assay results when received and analyzed.
White Tiger is planning to recommence drilling on the Marshall Lake property later this month (March), however, should there be any startup delays, drilling will be postponed long enough to obtain an exploration permit under the new permitting requirements which come into effect on April 1, 2013.
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.