Cash was $22m as of June 9th.

the Company's Rainy River project in Northwestern Ontario has grown from a grassroots exploration property to a project with indicated resources of 2.225 million ounces of gold and 3.375 million ounces of silver at a gold grade of 1.24 g/t as well as inferred resources of 1.807 million ounces of gold and 4.548 million ounces of silver at a gold grade of 0.88 g/t.

The Company is pleased to announce that Raymond W. Threlkeld has accepted the appointment as President and Chief Executive Officer of Rainy. Mr. Threlkeld is a seasoned mining professional with more than 30 years of experience in exploration, mine development, mine operations and executive management.

Mr. Threlkeld served as President and Chief Executive Officer of Western Goldfields Inc. from 2006 until May, 2009, where he led the team that acquired, developed and put into operation the Mesquite Gold Mine in California three months ahead of schedule and within 2% of budget. During his tenure the market capitalization of Western Goldfields rose from $12 million to over $300 million in less than 24 months. Western Goldfields was successfully merged into New Gold Inc. in June 2009.