With so many junior exploration companies out there, what makes Rainy River different?

The fact that this is a unique story is one of the reasons I joined the Company as President and CEO in August, 2009. In terms of location, infrastructure and sheer potential of this being a district scale gold deposit, you could not get any better than the Rainy River project. The project is located in Ontario, Canada - one of the most mining friendly jurisdictions in North America and has road access, power lines and a town of more than 10,000 people only 40 kilometres away. There is tremendous local support for development in an area that has been depressed in recent times with the slowing of the pulp and paper industry.

I joined the Company because I recognized that this is an exploration project that has the definite potential to be a mine (or several mines, as it may be) in the not too distant future. The project has 0.58 million ounces of inferred, 2.84 million ounces of indicated and 3.17 ounces of inferred gold resources.  This is an entirely NEW Canadian gold district that we have not even begun to test the limits of. Our plan is to further test those limits in 2011, by aggressively drilling (150,000 metres) numerous high priority targets on extensions of known gold zones both along strike and at depth.

The Company has always been successful in raising the money we need at the right time. Our most recent financing raised $75 million, bringing our cash position to approximately $130 million with only 83.5 million shares outstanding.

I have been in the business of developing mines for many years, and this is what I plan on doing for Rainy River. With the support of the Company’s Board, strong management team and a technical team that is second to none, I believe we can, and will, create Canada’s next gold district.


Raymond W. Threlkeld
President & CEO