TSX:RMX | NYSE.MKT:RBY TORONTO, Dec. 21, 2012 /PRNewswire/ - Rubicon Minerals Corporation (TSX:RMX) (NYSE-MKT:RBY) (" Rubicon") has been named in a petition for judicial review focused on the Province of Ontario's authority to approve a production closure plan. As noted in our news release dated December 17, 2012, Rubicon is proud of its record of its consultations with Aboriginal Communities and of its actions in the Red Lake district including its commitment to safe and responsible resource development and the successful provision of contracting and employment opportunities for Aboriginal Communities (see www.rubiconminerals.com for more information). While we remain committed to the consultation process and invite WFN back to the negotiating table to discuss the terms of a benefits agreement, we will vigorously defend our record and this petition which we believe to be without merit. Construction activities, including shaft sinking and mill construction continue to progress at the Phoenix Gold Project. About Rubicon Minerals Corporation Rubicon Minerals Corporation is an exploration and development company, focused on responsible and environmentally sustainable development of its Phoenix Gold Project in Red Lake, Ontario. Rubicon is well funded and its flagship Phoenix Gold Project is fully permitted to potential production. In addition, Rubicon controls over 100 square miles of prime exploration ground in the prolific Red Lake gold district which hosts Goldcorp's high-grade, world class Red Lake Mine. Rubicon's shares are listed on the NYSE.MKT (RBY) and the TSX (RMX) Exchanges. Rubicon's shares are included in the S&P/TSX Composite Index and Van Eck's Junior Gold Miners ETF. RUBICON MINERALS CORPORATION "David W. Adamson" CEO
Shares of gold explorer Rubicon Minerals decline sharply after British Columbia securities regulators ask for more information about the company's most important project, fueling speculation that Rubicon will need to cut back its reserve estimates.