Rubicon Minerals is drilling on the current state of the F2 gold system, Phoenix Gold Project in Red Lake (Ontario) known

Rubicon Minerals is drilling on the current state of the F2 gold system, Phoenix Gold Project in Red Lake (Ontario) known

Among the highlights:

  • 156,9 g / t gold over 1,7 Meters (4,58 Ounces of gold per tonne to 5,6 Foot) in the zone WLB2
  • 152,4 g / t gold over 1,5 Meters (4,45 Ounces of gold per tonne over 4.9 feet) in the zone WLB2
  • 33,6 g / t gold over 3,0 Meters (0,98 Ounces of gold per tonne to 9,8 Foot) in the zone 122-10

Rubicon Minerals Corporation (Frankfurt: RU7 | TSX: RMX | NYSE-AMEX: RBY) („Rubicon“)15.05.2012 – Rubicon Minerals Corporation (Frankfurt: RU7 | TSX:RMX | NYSE-AMEX:RBY) („Rubicon“) is pleased, the current status of its exploration activities to the 100% Company's F2 Gold System, Part of the Phoenix Gold Project, located in the heart of the resource-rich gold Red Lake District, announce. Rubicon where he lived a twelve-month program with a budget of 82,8 Million $ by, the optimization of certain aspects of the economic assessment (Preliminary Economic Assessment; „PEA“)1, should accelerate the construction of local infrastructure and the expansion of the current technical planning studies are. By the end of the third quarter 2012 to drill holes with a total length of 32.000 Meters will be drilled; this could be extended, should justify the results.

The drilling program has two objectives: Infill drilling to confirm and possibly expand existing gold zones and expansion drilling to investigate further extensions of known gold mineralization. Most of the drilling to date has focused on infill drilling of drill pads eisbasierten, at the surface and underground. The latest drill results are summarized in Table 1 and are listed on a map and a longitudinal section in Figures 1 and 2 drawn. Previous drilling in the zones WLB2, Crown, 122-10 and the area below 1.200 Meters are shown in Table 1 listed in italics for completeness.

Bohrhöhepunkte

Zone West Limb Basalt 2 (WLB2)

At the 29. March 2012 Rubicon announced the results of most of the winter drilling at the zone WLB2, with other new results are reported in this communication. The ongoing infill- and extension drilling along the immersion in the field have led to WLB2 gestiegenem confidence in the interpretation and continuity of the mineralized zone. Among the highlights 152,4 g / t gold over 1,5 Meters (4,45 Ounces of gold per tonne to 4,9 Foot) including 437,8 g / t gold over 0,5 Meter (12,77 Ounces of gold per tonne to 1,6 Foot) in hole 305-03-167 (in the application of a capping value of gold 270 g / t at the extreme content in this section would result 96,5 g / t gold over 1,5 M be), 156,9 g / t gold over 1,7 Meters (4,58 Ounces of gold per tonne to 5,6 Foot), including 221,6 g / t gold over 1,2 Meters (6,46 Ounces of gold per tonne to 3,9 Foot) in CZD-2-12-33 and 8,0 g / t gold over 5,5 Meters (0,23 Ounces of gold per tonne to 18,0 Foot) including 44,7 g / t gold over 0,5 Meters (1,3 Ounces of gold per tonne to 1,6 Foot) and 8,2 g / t gold over 12,8 Meters (0,24 Ounces of gold per tonne to 42,0 Foot) including 30,6 g / t gold over 2,0 Meters (0,89 Ounces of gold per tonne to 6,6 Foot) in hole 305-03-170 at a vertical depth of 1.112 M or. 1176 Meters.

The final results of winter drill complemented and extended the previously announced drill results from CZD-2012-15 with new results, to which 28,8 g / t gold over 5,0 Meters (0,84 Ounces of gold per tonne to 16,4 Foot) including 134,96 g / t gold over 0,9 Meters (3,94 Ounces of gold per tonne to 3,0 Foot) count, and CZD-2012-26, a new section of 4,1 g / t gold over 17,4 Meters (0,12 Ounces of gold per tonne to 57,1 Foot) including 21,4 g / t gold over 1,0 Meters (0,62 Ounces of gold per tonne to 3,3 Foot) was. Connecting holes in the area have proven resistant WLB2 mineralization of the type in the northern extensions of the F2 Gold System. Certainly make a further highlight of the recent drilling 4,9 g / t gold over 6,3 Meters (0,14 Ounces of gold per tonne to 20,7 Foot) CZD-in 2012-34. This program discovered a near-surface zone with a strong gold mineralization in the northeastern part of the block 9X, an area, where so far only limited holes were drilled (Figures 1 and 2).

In this area, additional connection holes are drilled.

Zone Crown

The results of the winter drilling program in the area were from the Crown in the Rubicon Press Release 29. March 2012 reported. The remaining results of this drilling, in the nominal spacing of 40 to 50 Meters were drilled, continue to have the continuity of mineralization along the interpreted strike length of at least 350 Meters and an immersion of about 200 Meters to. Among the highlights of the new findings in the Crown area 4,7 g / t gold over 16,4 Meters (0,14 Ounces of gold per tonne to 53,8 Foot) CZD-in 2012-04 (see Table 1 for complete results). The grades and widths, in Table 1 are given, generally correspond to the values, which have previously been intersected in the zone Crown and reported. When the source rocks are typical F2 basalts and subordinate mineralized felsic units.

Zone 122-10

The infill- and in-depth appraisal wells in the vicinity of the zone 122-10 continue to hold. The underground drilling 305-03-164 resulted in a robust mineralized drilling through, the several, individual sections over a core length of 250 Meters contained. Among the highlights of this hole 33,6 g / t gold over 3,0 Meters (0,98 Ounces of gold at 9,8 Foot) including 118,9 g / t gold over 0,8 Meters (3,47 Ounces of gold per tonne to 2,6 Foot), 22,3 g / t gold over 4,0 Meters (0,65 Ounces of gold per tonne to 13,1 Foot) including 71,6 g / t gold over 1,0 Meters (2,09 Ounces of gold per tonne to 3,3 Foot) and a more powerful section of 4,8 g / t gold over 27,0 Meters (0,14 Ounces of gold per tonne to 88,6 Foot) including 14,3 g / t gold over 2,3 Meters (0,42 Ounces of gold per tonne to 7,5 Foot) as well as 10,2 g / t gold over 2,8 Meters (0,3 Ounces of gold per tonne to 9,2 Foot). These results are from vertical depths between 853 and 1.107 Meters below the surface. The mineralization is in strongly altered and veined in places and brekzienartige F2 basalts, the multiple occurrences of visible gold have, embedded. These results complement the previously released intersections in this area and reaffirm our acceptance of geological, that the zone 122-10 Start of immersing a continuation of the zones, which are closer to the surface, is.

Area below 1.200 Meters

The drilling in this area are intended to reduce the distance between existing wells and the possible extension of the previously intersected gold mineralization. AMC Mining Consultants (Canada) Inc. took a conservative approach to the preparation of the PEA, what the application of a diluted average salary for the five lowest mining horizons (lower 305 Der Resource Meter) included. Rubicon brings down in the area selected holes, to investigate, whether the existing area would have to further drilling at an elevated level resource inventory. Since the preparation of the PEA, four new sections intersected, all of which contain gold mineralization are present within the typical basaltic host rock sequence. Hole F2-2012-03-W2 was 4,2 g / t gold over 5,1 Meters (0,12 Ounces of gold per tonne to 16,7 Foot) including 10,7 g / t gold over 1,1 Meters (0,31 Ounces of gold per tonne to 3,6 Foot). In this section, it is with a depth of 1.546 Meters below the surface to the previously deepest drilling through the F2 Gold System (see Figure 2). The holes in this area at a depth of less than 1.200 Meter stick to further.

"As our table shows the results, The new results build on the results, on 29. March 2012 were published, on. Our shallow infill drilling has so far proved successful, our geological confidence level in these areas increases and limited extensions of known zones. The holes in the expansion areas to hold further,"Said David Adamson, President und CEO.

Über Rubicon Minerals Corporation

Rubicon Minerals Corporation ist ein Explorations- and development company, whose emphasis is on exploring and developing its high-grade gold discovery at its Phoenix Gold Project in Red Lake (Ontario) is directed. Rubicon controls in the prolific Red Lake Gold District, the Goldcorp Red Lake Mine is home to high-grade, about 100 Square miles of prime exploration ground. Rubicon's shares are traded on the NYSE-AMEX (RBY) and on the TSX (RMX); 2011 were on average per day 1,7 Million shares traded. Rubicon shares are included in the S&P / TSX Composite Index and the Van Eck's Junior Gold Miners ETF.

RUBICON MINERALS CORPORATION
"David W. Adamson“
President & CEO

The initial economic (Preliminary Economic Assessment; „PEA“) is preliminary in nature and includes inferred mineral resources, are considered too speculative geologically to, to provide for economic considerations, which would allow their classification as mineral reserves. There is also no certainty, that the PEA will be realized. Mineral Resources, are not mineral reserves represent, There were no economic viability. The estimate of mineral resources may be materially affected by environmental, related to approval, legal, tax, socio-political, marketing or other relevant factors will depend. The quantity and grade of reported inferred resources are uncertain. There have so far not done sufficient exploration, to define these inferred resources as an indicated or measured mineral resource, and it is uncertain, if further exploration will result in an indicated or upgraded to a measured mineral resource category. The PEA is a technical report under NI 43-101, was created using metallurgical and processing-related contributions of AMC Mining Consultants and Soutex by 8. August 2011 entered into force.

Table 1: Highlights of the findings

To view the entire news release including tables and figures, please follow the link:
http://www.irw-press.com/dokumente/Rubicon_140512_DEUTSCH.pdf

Analysis and a qualified person

The analyzes were sawed in two NQ- and HQ core sections. Unless otherwise stated, is it in terms of reported widths for core sections. Further drilling is required in these cases, to determine the true widths of reported intersections. The saw blade is routinely cleaned between samples, was found to contain visible gold in drill core logging and sampling of. The analysis was carried out by SGS Minerals Services using standard fire assay on a 50-gram sample with gravimetric finish. The survey results are uncut, as is usual in Red Lake is. Were periodically standard, Read- and duplicates were added to each batch of samples. 5% The samples were analyzed by a third independent laboratory again. The gold standards were from CDN Resource Laboratories Ltd.. created. Die Explorations- and drilling programs at the Phoenix Project and all the data, the basis of this release form, were by Richard Greenwood (B.Sc. Hons.), GIT geology and director of the Phoenix project, Qualified Person as defined in NI 43-101 monitored and verified. All activities on site at the Phoenix project was supervised by Eric Hinton (P.Eng.), Project Manager for Rubicon, as a qualified expert in accordance with NI 43-101 carried out.

Forward-looking statements

This press release contains statements, the "forward-looking statements" under Section 21E of the United States Securities Exchange Act of 1934 as well as "forward-looking information" under applicable Canadian securities laws (collectively, "forward-looking statements") may be considered. Forward-looking statements are frequently, but not always, through the use of terms "aim", "Expect", "Believe", "Plan", "Estimate", "Anpeilen" and "intend" and statements by, that an event or a result "will", "Should" or "could", or similar expressions, be identified.

Forward-looking statements are based on the opinions and estimates of management at the time, when they are expressed, They have been prepared to the best of my knowledge and belief of the management, the facts and assumptions underlying, that management considers to be reasonable. The basic assumptions, on which these forward-looking statements are based, include, among others, that demand for gold- and base metal deposits develop as expected; that the gold price remains at a level, the profitability of the Phoenix Gold Project promotes; that the operation- and capital plans not caused by problems, such as mechanical breakdowns, the lack of availability of spare parts and accessories, Labor unrest, the interruption of transportation or equipment or adverse weather conditions, be thwarted; Rubicon that can meet the estimated schedule for the tapping of the Phoenix Gold Project; that Rubicon will continue to be able, recruiting qualified staff; that the mineral resource estimate will be implemented as described in the PEA; and that there was no significant unexpected changes in energy- or utility costs or the capital before production and are specified in the operating cost estimate of the PEA. Rubicon notes, that reasonable business people, who hold the same information, may not come to the same conclusions.

Among the forward-looking statements in this press release including statements regarding forecasts of future optimization of the PEA and the timing and nature of future exploration programs, that depend on forecasts, which, however, with continued drilling, or if unexpected ground conditions are encountered, can change to speed up the local infrastructure and the expansion of the technical planning studies. In addition, geographic areas with exploration potential, where considerable drilling is required, to determine, whether this mineralization, which is comparable with the areas, The depth has been explored, house. Other notable holes are at F2 notwending, completely determine the size and economic implications of the system to.

Forward-looking statements involve known and unknown risks, Uncertainties and other factors, which could cause, the actual results, Performance or achievements to be materially different from those of Rubicon, in the forward-looking statements were made either explicitly or implicitly expressed. Such factors include, inter alia,: future prices of gold and other metals; possible changes in the mineralization, the level or recoveries; the actual results of current exploration activities; the actual results of redevelopment work; Conclusions with respect to future economic evaluations; Changes in project parameters with continued refinement of the plans; Equipment failure or process, that do not work as expected; Accidents, Labor disputes and other risks of the mining industry; Delays and other risks related to joint venture operations; the ability of Rubicon and other relevant parties, comply with government regulations; the availability of financing for proposed transactions and programs on reasonable terms; the availability of third party service providers regarding the provision of timely services at reasonable terms; and delays in concluding the necessary planning- or works. Other factors, which could cause, that differ from the actual results of which, the market price does, the exploration results, the availability of capital and financing on acceptable terms, the inability, to obtain the necessary regulatory approvals, unanticipated difficulties or costs required renovations, market conditions and the general business, Economic, Competitive situation and political and social conditions.

Although management of Rubicon tried, identify the important factors (it considers to be reasonable), which could cause, that the difference between the actual events or results to differ materially from those contained in forward-looking statements include market prices, It may still be factors, which could cause, that the events or results not as expected, estimated or intended. Contained herein is forward-looking statements speak only as of the date of this release, Rubicon and is not obligated, unless required by law, to update any forward-looking statements - whether as a result of new information, future events or results or otherwise. There can be no assurance, that forward-looking statements will prove to be accurate; actual results and future events could differ materially from such statements. The reader should not place undue reliance on forward-looking statements.

For more information, please contact Bill Cavalluzzo, VP-Investor Relations
Free in North America: 1.866.365.4706
E-Mail: bcavalluzzo@rubiconminerals.com
www.rubiconminerals.com

Rubicon Minerals Corporation
Suite 1540-800 West Pender Street
Vancouver BC, CANADA V6C 2V6

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