TORONTO, Ont. January 17, 2012 – Rainy River Resources Ltd. (“Rainy River” or the “Company”) (RR.TSX) and Northern Superior Resources Inc. (TSX VENTURE: SUP) ("Northern Superior") (together, the "Companies") announce the commencement of the 2012 drill program at the Ti-Pa-Haa-Kaa-Ning (“TPK”) property in Northern Ontario.
Crews mobilized on January 9 to prepare the camp for the arrival of diamond drilling crews on January 16. Approximately 7,500 metres of drilling is planned with two diamond drill rigs. The program is targeting RC drilling anomalies that are coincident with gold-bearing mineralized boulders and coincident geophysical anomalies.
Northern Superior owns 100% of TPK, and Rainy River is the operator. Rainy River has spent $6 million to date as part of its $9.4 million earn-in for 51% interest in the project. Rainy River plans to spend approximately $3 million at TPK in 2012.
Results of the drilling will be released upon the completion of the program, anticipated for late Q2, 2012.
Rainy River is the operator of the TPK Joint Venture. The exploration program is being supervised by Kerry Sparkes, P.Geo., Vice-President, Exploration, a Qualified Person as defined by National Instrument 43-101. Mr. Sparkes is the person responsible for the content of this news release. Rainy River has implemented a rigorous QA/QC program to ensure best practices in sampling and analysis of drill core. All drill core is marked for sampling and then split in half with a diamond saw blade. Samples are placed in sealed bags with security tags. All samples were assayed using a standard fire assay, 30 gram nominal sample weight with an AA finish. Over-limit samples were re-assayed with a gravimetric finish. Samples with visible gold were automatically analyzed for Ore Grade by 1000g screen fire assay, with coarse and fine fractions being combined proportionately and the fine fraction being assayed twice. Standards, blanks and duplicates are inserted every 25 metres. ALS Canada Ltd. performed primary assaying, with duplicates being analyzed at Activation Laboratories Ltd. ALS Canada Ltd. and Activation Laboratories Ltd. implements independent QA/QC protocols that include the insertion of certified blanks and standards as part of their routine analysis.
About Rainy River
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
About Northern Superior Resources Inc.
Northern Superior is a junior exploration company focused on exploring for gold and diamonds in the Superior Province of the Canadian Shield. The Company is actively exploring for gold within two important gold districts: the Stull‐Wunnimun in Ontario and the Chibougamau in Quebec. The Company has a number of 100% owned properties (see Company web site, www.nsuperior.com) within these districts that were identified and developed from the Company’s extensive geoscientific data base and from which additional gold exploration projects are being generated. The Company is currently seeking to option‐out a number of these properties. Northern Superior is a reporting issuer in British Columbia, Alberta, Ontario and Quebec, and trades on the TSX Venture Exchange under the symbol SUP.
RAINY RIVER RESOURCES LTD.
Raymond W. Threlkeld
President & CEO
NORTHERN SUPERIOR RESOURCES INC.
Thomas F. Morris
President & CEO
For further information, please contact:
Director, Investor Relations Rainy River Resources Ltd. Telephone: 416-645-7289
Thomas F. Morris
President and CEO
Northern Superior Resources Inc.
Telephone: (705) 525‐0992
The TSX and TSX Venture Exchange do not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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.