RBY Resource Estimates

Exploration Insights (02/21/2011)
"Rubicon Minerals on Monday stated that, as a result of a review by the BCSC of the company's recently filed NI 43-101 technical report containing its Phoenix Gold Project mineral resource and geological potential estimates for the F2 Gold System, the company expects to file an amended technical report for the project.

There are three main areas of concern with Rubicon's November resource estimate that could negatively affect grade and total ounces in the pending amended technical report. These are the result of both the difficulty in determining resources for narrow, high-grade vein gold deposits and the estimation methods used by Geoex. . .[which] did not apply a high-grade cap (top cut) to the inferred resource estimate, reasoning that high-grade, nuggety gold deposits like F2 contain several assay populations that are the result of the variability in gold deposition in the vein; therefore, the high grades are representative and applying a global top cut to the entire database did not reflect the true ore body characteristics."

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