West Vancouver, British Columbia–(Newsfile Corp. – November 30, 2017) – Rainy Mountain Royalty Corp. (TSXV: RMO) (the “Company” or “Rainy Mountain”) announces that, with funds previously raised, the Company intends to begin a winter exploration program on the east side of its optioned gold exploration property (the “Brunswick Property” or “Property”) located in Brunswick Twp., Ontario. The initial phase of the exploration program will include a 20 to 22 km induced polarization (“IP”) grid covering the remaining 1.6 to 1.8 km portion of the east side of the Property not already surveyed. These lines will be completed in an effort to trace the extension of the original gold zone and host shear structure, as well as four other IP trends already known. The IP grid is expected to be completed in the month of December, 2017 and, upon completion of the Company’s more recently announced financing (see news release dated November 7, 2017), the Company intends to follow up with a drill program (planned for January 2018). This drill program is intended to begin testing existing IP anomalies and shears exposed by trenching completed by the Company in August 2017 (see the Company’s news release of September 12, 2017 for additional details). As previously indicated, anomalous gold values were obtained along these shears in soil and in bedrock corresponding to the shears. High arsenic pathfinders were also seen in one particular shear extending from drill hole BE17-04, and as a result, step out drill holes are planned (see the Company’s news release of October 12, 2017 for additional information).
The next phase of the exploration program is expected to include an additional 26 km grid on the west side of the Property, which will be surveyed with IP. Following the IP survey, a drill program is planned to continue testing the remaining IP anomalies and showings on the east side of the Property, before moving to test an IP trend adjacent to highly anomalous gold values (6.6 gm, 4.05gm, 2.58 gm) found along a 900m IP trend on the west side of the Property (see the Company’s news releases of July 12, 17 and August 23, 2017 for additional information).
The Brunswick Property covers a full 6 miles (9.6 km) of a set of shear zones that parallel the Ridout Fault system, which is interpreted to be the continuation of the Larder Lake Break. Five shears have been defined by IP-Resistivity surveys and initial drilling has tested each shear with just one hole to confirm that these anomalies were in fact sericite-iron carbonate (ankerite) altered shears with quartz- pyrite. The Property is located 140 km south of Timmins, Ontario and is road accessible from Highway 560 that links Highway 144 to Shiningtree and Kirkland Lake.
This news release has been reviewed and approved by Robert Middleton, P.Eng., who is acting as the Company’s Qualified Person for the Brunswick Property gold 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, Chief Executive Officer
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 the Company’s planned exploration program on the Brunswick Property, as well 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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.