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Rubicon Remains Committed To Further Discussions With Wabauskang First Nation

TSX:RMX | NYSE.MKT:RBY

TORONTO, Dec. 17, 2012 /PRNewswire/ - Rubicon Minerals Corporation (TSX: RMX | NYSE-MKT: RBY) (" Rubicon") has learned via press reports that, on December 17, 2012, Wabauskang First Nation ("WFN") instructed its lawyers to file a lawsuit related to Rubicon's Phoenix Gold Project in Red Lake, Ontario. At this time, since it has received no notice from WFN, the details of its lawsuit are unknown to Rubicon.

By way of background, Rubicon has been engaged in discussions and consultation with WFN since January of 2009.  As part its Closure Plan obligations, Rubicon confirmed its intention to continue to consult with WFN with respect to the Phoenix Gold Project.

Rubicon has, in good faith, met with the community representatives of WFN and other Aboriginal Communities to ensure their interests have been heard and incorporated into the planning process.  Some of the efforts made by Rubicon with respect to WFN are as follows:
  • as noted above, discussed and consulted WFN directly since January 2009;
  • provided funding to WFN pursuant to its Consultation & Accommodation Protocol for environmental reviews, legal assistance, financial analyses, a traditional use study, travel, per diems and honorariums;
  • worked with an independent environmental consultant selected by WFN and funded by Rubicon who completed an environmental review of the entire Phoenix Gold Project;
  • in addition to addressing impacts related to Aboriginal and Treaty rights, Rubicon has agreed to implement every recommended impact mitigation measure suggested by WFN through its environmental consultant and has incorporated these commitments in the Closure Plan. These commitments include, but are not limited to, hiring an Environmental Monitor, funding a Project Committee to facilitate ongoing consultation and funding independent reviews of future permit applications; and
  • has been involved in good faith negotiations with WFN in an attempt to reach an economic accommodation under the terms of a benefits agreement.  While the content of these discussions remain confidential, Rubicon is intent in continuing these negotiation with WFN.

Rubicon has a strong history in engaging in consultations with other Aboriginal Communities whose traditional territory encompasses the Phoenix Gold Project.   In addition, Rubicon is providing considerable benefit to Aboriginal Communities through the letting of key contracts, hiring of workers and other initiatives.  Several of Rubicon's contractors are First Nation joint ventures and Rubicon's underground mining contractor is Métis owned.  The total value of these contracts to date on the Project is over $30 million. Rubicon believes it has demonstrated its good faith to date and values engagement with its Aboriginal neighbours and will continue to pursue the sharing of economic benefits.

Although Rubicon remains committed to the ongoing consultation process, if necessary, it is prepared to vigorously defend its consultation record in any legal dispute.

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