Additional Results from F2

WENDELL ZERB, B.SC., P. GEOL., Canaccord Genuity (09/22/2009)
"The high-grade F2 gold zone at the company's Phoenix property in Red Lake has been the company's dominant exploration focus for the past year. Notable results include: 891.1 g/t Au over 2.0 meters, 24.4 g/t Au over 17.0 meters, 42.4 g/t Au over 11.0 meters, 28.7 g/ t Au over 15.5 meters and 361.7 g/t Au over 1.8 meters.

Last week, Rubicon released additional drilling results from the F2 zone. Underground hole 122-10 intersected 13.7 g/t Au over 44.9 meters, including 28.4 g/t Au over 18.0 meters, at a vertical depth of 673 meters. This new intercept is located approximately 200 meters southwest of the main F2 zone mineralization intersected to date. Three surface and two underground drill rigs are currently active at the project, executing on a planned 80,000-meter drill program, testing a 1,200- by 1,600-meter target area.

The F2 zone is located only 450 meters from the 142-meter-deep McFinley shaft, which Rubicon plans to use for access to explore the F2 zone. The shaft was recently dewatered and re-commissioned for exploration purposes. The plan is to test the F2 mineralization from underground drill stations to determine continuity of mineralization and the best location for future cross cut drift access into the mineralization.

Gold mineralization in the F2 zone appears to us to occur in close association with lithological contacts, including the mafic/ultramafic contact, but also often at times with a dyke-like felsic porphyry unit. Mineralization appears largely to be on dilatational fracture fill boundaries, with contacts brecciated and irregular. Important alteration includes close association with actinolite, biotite and within quartz vein material, pyrite, pyrrhotite, with lesser arsenopyrite."

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