Rainy River Resources Announces Management Appointments
TORONTO, ONTARIO -- (Marketwire) -- 03/05/12 -- River Resources Ltd. ('Rainy River' or the 'Company') (TSX: RR) is pleased to announce the appointment of Mr. Paolo Toscano as Director of Metallurgy, and Mr. Doug Brown as Corporate Health & Safety Manager.
Mr. Toscano brings to the position 17 years of extensive hands-on experience in metals and processing. Prior to joining the Company, Mr. Toscano worked for SNC-Lavalin where he was Director of Process Engineering. His experience covered many large-scale gold projects including Eleonore, Paracatu and Las Christinas. Prior to SNC-Lavalin he was Senior Project Engineer at MinnovEX Technologies Ltd.
Mr. Brown is a health and safety professional with over 30 years of experience in the mining industry. Prior to joining the Company, Mr. Brown was Manager, Safety, Health and Environment for DeBeers Canada at the Victor Mine in Northern Ontario. Prior to DeBeers Canada he was Regional Director of Health and Safety for Goldcorp Inc., and Manager of Health and Safety for Xstrata's Kabanga nickel project in Tanzania.
'We are very pleased to welcome Paolo and Doug to the Rainy River team', said Ray Threlkeld, President and CEO. 'Their contributions will be integral to the success of developing the Rainy River Gold Project.'
About Rainy River Resources Ltd.
Rainy River Resources Ltd. is a Canadian precious metals exploration company whose key asset is the Rainy River Gold Project, a large gold system centred in Richardson Township (part of Chapple Township). As of September 30, 2011, the Company had $115 million in cash and securities, and is well funded for its 2012 plans to 1) commence a feasibility level study on the RRGP; 2) continue growing the existing resource through exploration; 3) conduct a condemnation program in areas identified for potential mine facilities; and 4) continue regional exploration. RRGP is very 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 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 Inc. 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 W. Threlkeld, President & CEO
CAUTIONARY NOTE REGARDING FORWARD LOOKING-STATEMENTS
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.
Contacts:
River Resources Ltd.
Indi Gopinathan
Director, Investor Relations
416-645-7289
igopinathan@RainyRiverResources.com