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TheStreet Open House

Rainy River Resources Completes Feasibility Study: Establishes Intermediate Production Profile With 4.0 Million Ounces Of Gold In Proven And Probable Reserves

Table 2. Open Pit and Underground Proven and Probable Mineral Reserves ( April 10, 2013) [ 1, 2, 3, 4 ]

    Reserve Category    Tonnage Au Grade Ag Grade     Au         Ag
                          Mt      g/t      g/t   In-Situ oz  In-Situ oz
    Open Pit
    Proven               27.7     1.14     1.94   1 014 584   1 727 979
    Probable             85.5     0.91     2.88   2 510 641   7 918 793
    TOTAL - Open Pit    113.2     0.97     2.65   3 525 225   9 646 772
    Underground
    Proven                 -       -        -         -          -
    Probable              3.1     5.07     6.69     506 283     668 240
    TOTAL - Underground   3.1     5.07     6.69     506 283     668 240
                              Total Combined
    Proven               27.7     1.14     1.94   1 014 584   1 727 979
    Probable             88.6     1.06     3.01   3 016 924   8 587 033
    TOTAL - Combined    116.3     1.08     2.76   4 031 508  10 315 012

 

       1.     Open Pit Reserves have been estimated using a cut-off grade of 0.30 g/t
                                       gold-equivalent,
        and Underground Reserves have been estimated using a cut-off grade of 3.5 g/t
                                            gold-
        equivalent. Open Pit Reserves have been estimated using a dilution of 9.7% at
                                        0.22 g/t gold
        and 1.31 g/t silver, and Underground Reserves have been estimated using a CAF
                                         dilution of
          9% at 0.61 g/t gold and 4.16 g/t silver and LH dilution of 10% at 1.56 g/t
                                      gold and 1.28 g/t
          silver. Open Pit and Underground Reserves have been estimated using a mine
                                    recovery of 95%.
     2.   Qualified persons - The mineral reserve statement was prepared by Patrice Live
                                         (OIQ #38991)
           of BBA and Donald Tolfree (APEGBC #32557), of Golder, both "independent
                                      qualified persons"
             as that term is defined in National Instrument 43-101. Rainy River's
                                  engineering assessment in
           Richardson Township is being supervised by Garett Macdonald, P.Eng. (PEO
                                         #90475344),
           Vice-President Operations and a Qualified Person as defined by National
                                    Instrument 43-101.
      3.  Reserves are derived from the October 10, 2012 Resource Statement, prepared by
                                            Dorota
        El-Rassi, P.Eng. (APEO #100012348) and Glen Cole, P.Geo (APGO #1416), of SRK,
                                             both
        "independent qualified persons" as that term is defined in National Instrument
                                        43-101. Rainy
          River's exploration program in Richardson Township is being supervised by
                                        Kerry Sparkes,
         P.Geo. (APEGBC #25261), Vice-President Exploration and a Qualified Person as
                                          defined by
          National Instrument 43-101. The Company continues to implement a rigorous
                                        QA/QC program
             to ensure best practices in sampling and analysis of drill core.
       4. The estimates of mineral reserves may be materially affected by environmental,
                                         permitting,
      legal, title, taxation, sociopolitical, marketing, and other relevant issues.

Mining

4 of 11

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