RBY: Phoenix Project Geological Review

CATHERINE GIGNAC, Northland Capital Partners (04/01/2011)
"Rubicon released an amended inferred resource and geological potential estimate to the initial estimate (4.0 Moz. at 20.10 g/t) released in November 2010 for the Phoenix Project. Inferred resources now total 3.6 Moz. at 20.34 g/t (uncapped), with significant geological upside. There is a backlog of assay results from early January 2011 due to be reported. . .the company can now work toward completion of a PEA, which we view as the next major catalyst for future share-price performance in conjunction with ongoing drill results throughout the year."

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