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Rubicon Announces That The Ministry Of Northern Development And Mines Has Accepted Its Production Closure Plan As Filed

About Rubicon Minerals Corporation

Rubicon Minerals Corporation is an exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Gold Project in Red Lake, Ontario.  Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp's high-grade, world class Red Lake Mine. Rubicon's shares are listed on the NYSE-AMEX (RBY) and the TSX (RMX) Exchanges and has traded on average, 1.7 million shares per day in 2011. Rubicon's shares are included in S&P/TSX Composite Index and Van Eck's Junior Gold Miners ETF.


Forward Looking Statements

This news release contains statements that constitute "forward-looking statements" within the meaning of Section 21E of  the United States Securities Exchange Act of 1934 and "forward looking information" within the meaning of applicable Canadian provincial securities legislation (collectively, "forward-looking statements"). Forward-looking statements in this news release include statement with respect to future development and further construction and are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties and other factors which are beyond Rubicon's ability to predict or control and may cause actual results, performance or achievements to be materially different from any of future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, gold price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, general economic conditions and other risks involved in the gold exploration and development industry. Accordingly, readers should not place undue reliance on forward-looking statements. Rubicon undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.


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