Rainy River Resources Conditionally Approved to Graduate to the TSX
TORONTO, ONTARIO -- (Marketwire) -- 09/16/11 -- Rainy River Resources Ltd. ('Rainy River' or the 'Company') (TSX VENTURE: RR) is pleased to announce that it has received conditional approval to list its common shares on the Toronto Stock Exchange (the 'TSX'). The listing remains subject to certain conditions including, without limitation, final approval of the TSX. Rainy River is coordinating the arrangements for listing on the TSX and de-listing from the TSX Venture Exchange. The Company will advise further about the timing of the graduation, which is anticipated to occur by early October 2011.
Raymond Threlkeld, President and CEO commented: 'The Rainy River Resources team is proud of our anticipated graduation to the TSX, the premier stock exchange for mining companies. A listing on the main board will increase our visibility to investors globally. I would like to thank the Rainy River team and all those involved in our development for their hard work and support, which has enabled the Company to reach this important juncture.'
Following graduation to the TSX, Rainy River's common shares will continue to trade under the stock symbol'RR'.
About Rainy River
Rainy River is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project. With approximately $115million in cash and securities, the Company is well funded to conduct a dual-focused drilling program consisting of: 1) definition diamond drilling of the main gold resources in preparation for scoping and prefeasibility studies, and 2) selective diamond drill testing of high-priority gold targets defined primarily by RC drilling within the large gold system centred in Richardson Township. The Company's property is extremely well located in the southwestern corner of Northern Ontario near the U.S. border. It is accessed by a network of roads and is close to hydro-electric infrastructure. The Rainy River district has a skilled labour force and is one of the lowest-cost areas for mineral exploration and development in Canada. The Company is also working to advance the early-stage discoveries at its TPK Joint Venture Property, also in Ontario, where it can earn a 51% interest in the property from Northern Superior Resources. Ontario has low political risk and, according to the annual Fraser Institute global survey of the mining industry, has consistently ranked as one of the top jurisdictions embracing mineral development.
RAINY RIVER RESOURCES LTD.
Raymond Threlkeld, President & CEO
This release includes certain statements that may be deemed to be 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management 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 the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.
Neither 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.
Contacts:
Rainy River Resources Ltd.
Indi Gopinathan
Director of Investor Relations
416-645-7289
igopinathan@rainyriverresources.com
www.rainyriverresources.com