Very high potential TPK joint ventureRainy River Announces Board Approval of Increased Exploration BudgetTORONTO, ONTARIO -- (MARKET WIRE) -- 08/19/10 -- Rainy River Resources Ltd. ("Rainy River" or the "Company") (TSX VENTURE: RR) is pleased to announce that the Board of Directors approved an increase in the Company's budget for the calendar year 2010 from $18.7 million to $24.8 million at the Company'sAugust 11, 2010 Board meeting. The increase of $6.1 million for 2010 is a result of the excellent success in defining higher grades in the 433, ODM17, Beaver Pond, and South zones. In addition, the Company will be spending $3.0 million at the very high potential TPK joint venture in Northern Ontario.
The increased budget for the remainder of 2010 will add to the amount of drilling from the current 53,000 metres completed to over 90,000 metres by year end at the Rainy River Project. The budget will be concentrated on the following activities:
Exploration of newly defined targets including the VMS potential,extensions of high grade VMS-style mineralization and geophysicaltargets in the South/Cap zones, the high grade 433 Footwall Zone wherethree high grade intercepts have been discovered and previouslyreported, the Beaver Pond Deep Zone and westward extensions of theBeaver Pond Zone.--
Delineation of the open pit and underground mineralization in the ODM17and 433 zones to move resources into an Indicated category for scopingand resource updates. Current delineation drilling from the surface willbe spaced on 40 metre and 50 metre centres down to a depth of 650metres. The increased drilling is meant to further define an allunderground option, where recent analysis has shown average grades of9.3 gpt gold and 15.5 gpt gold in the ODM and 433 zones respectively,(using a 3 gpt cut-off) over a minimum width of 4.0 metres (see pressrelease dated July 20, 2010).--
Permitting of an underground Advanced Exploration program to establishunderground access to the ODM17, 433 and South zones. Underground accesswill allow the collection of a bulk sample and provide access for deeperexploration during 2011.
Preparation of a detailed scoping study and resource report toincorporate all 2010 investigations including a process flow sheet;geotechnical designs for the open pit and underground options; andenvironmental baseline and financial analysis. The study will bereleased in the first quarter of 2011.
Exploration of the TPK Gold Project in cooperation with NorthernSuperior Resources in Northern Ontario. Rotary drilling is currentlyunderway and core drilling of our targets will commence in October.
"We are extremely pleased that the Board has provided our technical team with the budget they need in order to advance both the Rainy River and TPK projects," commented Raymond Threlkeld
, President and CEO. "The stepped up exploration program at Rainy River for the remainder of 2010 will provide us with the detailed information that we require in order to determine the best and most value accretive development approach for this highly prospective project."