Rainy River Resources Announces Further Assay Results from Rainy River Gold Project in Ontario

Rainy River Resources Ltd. (TSX VENTURE:RR) announces further assay results from the Rainy River Gold Project in Northwestern Ontario.

These results comprise the remaining 2010 drill campaign and include the first round of assays from the 2011 exploration program. None of this data has been included in the latest NI 43-101 resource estimate (3.42 M oz Measured & Indicated, 3.17 M oz Inferred, see news release dated February 24, 2011) for the RRGP.

Highlights

• 942.6 g/t (27.5 oz/ton) gold and 54.2 g/t (1.5 oz/ton) silver over 3.0 m in newly discovered Gap Zone between ODM and Beaver Pond Zones
• 4.7 g/t gold over 7.5 metres in the Gap Zone
• 2.7 g/t gold over 37.5 m in 17 Zone, including 5.0 g/t gold over 15.0 m
• 1.4 g/t gold over 33.0 m in South Zone
• HS Zone potential expands westward – 41.4 g/t gold over 1.5 m

ODM/17 Zone

Drilling within the ODM/17 Zone continues with efforts focused on the gap between the western ODM and the Beaver Pond Zones (referred to as the Gap Zone). Drill hole NR10-633 intersected several intervals of high-grade gold mineralization, with the most significant interval grading 942.5 g/t gold over 3.0 m, including 1,845.0 g/t gold and 99.2 g/t silver over 1.5 m and 40.1 g/t gold and 9.1 g/t silver over 1.5 m. This intersection lies approximately 150 metres east of a previously-announced high-grade intersection from the Beaver Pond Zone (352.8 g/t gold over 6.0 m in hole NR09-446, see press release dated January 18^th, 2010) at a similar elevation and represents a new area for exploration. Each of these intercepts contained notable quantities of visible gold. A second interval within the GAP Zone, and lying approximately 15 metres above this high-grade interval in hole NR10-633, assayed 4.7 g/t gold over 7.5 m.

Further downhole in NR10-633 a third high-grade intersection was discovered within the HS Zone corridor, grading 41.4 g/t gold over 1.5 m. This intersection lies approximately 400 metres west of the main HS Zone mineralization and opens up the potential for a western expansion of the HS Zone.

On the east side of the deposit, drill hole NR10-620 intersected a shallow intercept in the 17 Zone grading 2.7 g/t gold over 37.5 m, including 5.0 g/t gold over 15.0 m (including 12.0 g/t gold over 1.5 m and 28.9 g/t gold over 1.5 m). This intercept lies approximately 50 metres below the surface. Deeper within the 17 Zone drill hole PE1003 intersected 48.8 g/t gold over 1.5 m in the hanging wall at a depth of 200 metres. Also in the ODM/17 Zone, drill hole NR10-612 intersected a 66.0-metre wide interval grading 1.2 g/t gold, including 7.1 g/t over 1.5 m and 6.3 g/t gold over 1.5 m, at a depth of 400 metres below the surface.

South Zone & Western Area

Results from the South Zone continue to show encouraging intercepts of gold mineralization. This area is an important component of the 2011 exploration program, where the possibility exists to add shallow resources for an open pit operating scenario both to the south and along strike. Recent assay results include 1.4 g/t gold over 33.0 m in hole SZ1001, 0.6 g/t gold over 15.0 m in NR10-612, 0.7 g/t gold over 42.0 m in NR10-619 and 1.1 g/t gold over 9.0 m in hole NR10-625.

Grass roots exploration in a new area approximately 800 metres northwest of the Beaver Pond Zone, termed "Western Area", has returned encouraging results including 1.1 g/t gold over 4.5 m and 0.6 g/t gold over 22.5 m in drill hole R10-618. Hole CP1002 returned similar values, with 0.5 g/t gold over 7.5 m and 1.1 g/t gold over 4.5 m, near surface.

Commentary

"These initial results from our 2011 drill program are an excellent beginning to expand our resources from our recently announced NI 43-101 resource estimate," commented Raymond Threlkeld, President and CEO. "The area between the Beaver Pond and ODM Zones is possibly another high-grade structural shoot, similar to others we've seen throughout the deposit. The discovery of gold-bearing mineralization over 800 metres along strike in the newly discovered Western Area to the northwest of Beaver Pond opens up significant untested exploration potential."

Qualified persons

Rainy River's exploration program in Richardson Township is being supervised by Kerry Sparkes, P.Geo. Vice-President Exploration, a Qualified Person as defined by National Instrument 43-101. Garett Macdonald, P.Eng., Vice President Operations and Kerry Sparkes P.Geo. are the persons responsible for the content of this news release. The Company continues to implement 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.