Garett Macdonald appointed VP of Operations
posted on
Dec 12, 2009 02:57AM
NI 43-101 Resources of 3.42M oz. Au Indicated and 3.17M oz. Au Inferred (Feb. 2011)
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 11, 2009) - Rainy River Resources Ltd. (TSX VENTURE:RR - News; the "Company" or "Rainy") is pleased to announce the appointment of Garett Macdonald as Vice President, Operations. Prior to joining Rainy River, Mr. Macdonald was Vice President of Operations for Canadian Arrow Mines Ltd. and held operating positions with Suncor Energy Inc. and Placer Dome Inc. Mr. Madonald's experience has involved large open pit mining operations, large civil construction and continuing improvement to underground operations. Mr. Macdonald is a mining engineer and has an MBA from the Richard Ivey School of Business. "We are very pleased to have a young man of Garett's skill and experience to move Rainy River into the development stage and create an intermediate gold producer," commented Raymond Threlkeld, President & CEO. Mr. Macdonald will operate from Toronto, where the Company will be establishing an office in addition to its Vancouver headquarters. Mr. Macdonald has been granted options to acquire a total of 250,000 common shares of the Company at the exercise price of $2.98 per share for a period of 5 years, subject to vesting. About Rainy River Resources Ltd. Rainy River Resources is a Canadian precious metals exploration company whose key asset is the Rainy River gold project. With CAN$22 million in its treasury, the Company is well funded to conduct a dual-focused drilling program consisting of: 1) definition diamond drilling of the main gold resources in preparation for scoping and pre-feasibility studies, and 2) selective diamond drill testing of high-priority gold targets defined primarily by RC drilling within the large gold system centered in Richardson Township. The Company's property is extremely well located in the southwestern corner of northern Ontario near the U.S. border. It is accessed by a network of roads and is close to hydro-electric infrastructure. The Rainy River district has a skilled labour force and is one of the lowest-cost areas for mineral exploration and development. Ontario has low political risk and, according to the annual Fraser Institute global survey of the mining industry, has consistently ranked as one of the top jurisdictions embracing mineral development. RAINY RIVER RESOURCES LTD. Raymond W. Threlkeld, President & CEO This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information. The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.
Rainy River Appoints Garett Macdonald as Vice President Operations
Contact:
Liz Caridi
Rainy River Resources Ltd.
(604) 639-4497
lcaridi@rainyriverresources.com
www.rainyriverresources.com