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Rainy Mountain Royalty Corp V.RMO

Alternate Symbol(s):  RMNXF

Rainy Mountain Royalty Corp. is a Canada-based mineral exploration project generator. The Company is engaged in the acquisition and exploration of mineral resource properties. The Company’s focus is to acquire early-stage exploration opportunities and deliver them drill target ready to joint venture partners. The Company holds multiple property interests in Ontario and is primarily focused on shear hosted gold and base metals properties with associated gold and silver credits. The Company’s projects are Marshall Lake property, and Brunswick Property. Its other properties consist of the Clay/Powell and Norton Lake Properties. The Marshall Lake property is in the Thunder Bay Mining Division, Ontario. Its Brunswick Property consist of 13-claim units located in Brunswick Twp., Ontario. It owns a 100% interest in claims located in the Thunder Bay Mining Division, Ontario. The Company holds a 30.21% interest in the Norton Lake Property.


TSXV:RMO - Post by User

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Post by TERRIBLEon Mar 09, 2010 8:21am
354 Views
Post# 16859525

MARSHALL LAKE PROPERTY

MARSHALL LAKE PROPERTY

White Tiger Seeks to Acquire a 50% Joint Venture Interest in the Marshall Lake Property Project, Ontario

West Vancouver, British Columbia – March 8, 2010 – White Tiger Mining Corp. (the “Company” or “White Tiger”) is pleased to report that it has signed a letter of intent with Rainy Mountain Royalty Corp. of West Vancouver, BC (“Rainy Mountain”) and Marshall Lake Mining PLC of London, England (“MLM PLC”) to acquire up to a 50% joint venture interest in Rainy Mountain’s and MLM PLC’s Marshall Lake project located in Ontario. The letter of intent is subject to the completion of a definitive option agreement and the obtaining of regulatory and shareholder approvals. Rainy Mountain and White Tiger have certain common directors.

The Marshall Lake project is a copper, gold, silver and zinc property and consists of 65 unpatented mining claims and 89 leased claims (for a total of 965 claim units or approximately 60 square miles) and is located approximately 250 km north-northeast of Thunder Bay, Ontario (accessible via Highway 11/17).

As summarized in the letter of intent, the Company can acquire up to a 50% joint venture interest in the Marshall Lake project by incurring over a 5 year period $4,000,000 in exploration expenditures on the Property and issuing 2,000,000 shares of the Company. As a result, White Tiger can earn a 12 ½ % joint venture interest in the Marshall Lake project for each $1,000,000 of exploration expenditures incurred. As well, once White Tiger has completed all of its share and spending commitments, it has the additional option to increase its interest to 75% by incurring such additional expenditures as are necessary to take the Marshall Lake project to bankable feasibility stage.

The Company is currently negotiating a definitive option agreement with Rainy Mountain and MLM PLC, which will be filed for acceptance with the TSX Venture Exchange when completed.

To receive Company news via email from CHF Investor Relations, please contact Alison Tullis at alison@chfir.com and reference "White Tiger News" on the subject line.

For further information, please contact:

White Tiger Mining Corp. CHF Investor Relations
Clive Shallow, Investor Communications Alison Tullis, Senior Account Manager
Tel: (604) 922-2030 Tel: (416) 868-1079 ext. 233
Fax: (604) 922-2037 Fax: (416) 868-6198
Email: clive@waterfrontgroup.com Email: alison@chfir.com

WHITE TIGER MINING CORP.

“Ronald A. Coombes”

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