Rainy River Resources Ltd. Analyst Day - April 2013

© 2013 RAINY RIVER RESOURCES LTD.

TSX: RR

FEASIBILITY STUDY

ANALYST LUNCHEON

APRIL 11, 2013

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Forward Looking Information

This presentation contains “forward-looking information” as defined in applicable securities laws (referred to herein as “forward-looking statements”). Forward looking statements include, but are not limited to, statements with respect to the cost and timing of the development of the Rainy River project, the other economic parameters of the project, as set out in its feasibility study; the success and continuation of exploration activities; estimates of mineral reserve and resources; acquisitions of additional mineral properties; the future price of gold; government regulations and permitting timelines; estimates of reclamation obligations that may be assumed; requirements for additional capital; environmental risks; and general business and economic conditions. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates” or “believes”, or variations of, or the negatives of, such words and phrases, or statements that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company’s actual results, performance or achievements to be materially different from any of its future results, performance or achievements expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, the assumptions underlying the feasibility study not being realized, decrease of future gold prices, cost of labour, supplies, fuel and equipment rising, availability of financing on attractive terms, actual results of current exploration, changes in project parameters, exchange rate fluctuations, delays and costs inherent to consulting and accommodating rights of First Nations, title risks, regulatory risks and uncertainties with respect to obtaining necessary surface rights and permits or delays in obtaining same, and other risks involved in the gold exploration and development industry, as well as those risk factors discussed in the section entitled “Description of Business-Risk Factors” in Rainy River's 2012 Annual Information Form and its other SEDAR filings from time to time. Forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, the availability of financing for the Company’s exploration and development activities; the timelines for the Company’s exploration and development activities on the Rainy River Property; the availability of certain consumables and services; assumptions made in mineral resource estimates, including geological interpretation grade, recovery rates, gold price assumptions and operational costs; and general business and economic conditions. All forward-looking statements herein are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements whether as a result of new information or future events or otherwise, except as may be required by law.

This presentation uses the terms “proven mineral reserves”, “probable mineral reserves”, “measured mineral resources”, “indicated mineral resources” and “inferred mineral resources”. The Company advises readers that these terms are defined in accordance with Canadian regulations (under National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”)). The United States Securities and Exchange Commission does not recognize mineral resources. Readers are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted in to reserves. In addition, “inferred resources” have a great amount of uncertainty as to their existence, and economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, or economic studies, except for a Preliminary Assessment as defined under NI 43-101. Investors are cautioned not to assume that part or all of an inferred resource exists, or is economically or legally mineable.

For additional information with respect to the key assumptions, parameters, risks and other technical information underlying to the mineral resource estimates and the preliminary economic assessment discussed in this presentation, refer to: (i) the press release dated October 10, 2012 with respect to the mineral resource estimates, available at www.sedar.com; (ii) the press release dated April 10, 2013”, with respect to the feasibility study,, available at www.sedar.com; and (iii) the technical report entitled “NI 43-101 Feasibility Study of the Rainy River Gold Property, Ontario, Canada”, with respect to the feasibility study, which will be available on www.sedar.com.

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Agenda

• Introduction

• Ray Threlkeld, President and CEO

• Feasibility Study

• Mike Mutchler, VP and COO

• Community and Environment

• Kyle Stanfield, VP Environment and Sustainability

• Financial Review

• Nick Nikolakakis, VP and CFO

• Exploration: District and Underground

• Kerry Sparkes, VP Exploration

• Next Steps

• Ray Threlkeld, President and CEO

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The Rainy River Gold Project (RRGP)

4

• High quality, low risk project

• “Unrealized District Potential”

• Proven Management Team

• Strong Financial Position

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Defining Canada’s Newest Gold District RRGP Feasibility Study Highlights, April 2013

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Open Pit Reserve: 70.1 Mt @ 1.34 g/t gold, 3.07 g/t silver

and Stockpile: 43.1 Mt @ 0.37 g/t gold, 1.97 g/t silver

= 3.5 Moz gold and 9.6 Moz silver

Underground Reserve 3.1 Mt @ 5.07 g/t gold, 6.69 g/t silver

= 0.51 Moz gold and 0.67 Moz silver

Mill head grade: 1.46 g/t gold, 3.19 g/t silver (first 10 years)

Strip ratio (waste/ore): 3.1:1*. Operating 2.8:1** *Excludes overburden material. **Excludes overburden and capitalized waste.

Recoveries: 90.4% (gold), 64.1% (silver)

Annual Production: 326 koz (gold), 494 koz silver (first 10 years)

Cash costs: US$468 per ounce gold (first 10 years)

“All-in” cash costs***: US$771 per ounce gold (first 10 years) ***includes depreciation.

Initial Capital: C$713 M

NPV5% C$931 M, after-tax

IRR$1400/oz gold, $25/oz silver 24% , after-tax

AN INTERMEDIATE PRODUCER WITH LOW CASH COSTS

AND 4.0 MOZ IN RESERVES


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Located in Mining-Friendly Ontario, Canada

Rainy River

Gold Project

Half of the 12 recently announced junior gold acquisitions were for

projects located in Canada, a safe, mining-friendly jurisdiction.


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0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

RRGP (RainyRiver)

Malartic(Osisko)

Borden(Probe)

Cote(Iamgold)

Magino(Argonaut)

Detour Lake(Detour)

Blackwater(New Gold)

HammondReef (Osisko)

M&

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ou

rce

Gra

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g/t

go

ld

Making the Grade - Comparison to Peer Projects

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Note:

Borden at 0.50 g/t cut-off

Blackwater at a 0.40 g/t cut-off

Malartic at a 0.32 g/t cut-off

Highest Grade M&I Resources of 8 Canadian Bulk Tonnage Gold Deposits (at a 0.30 g/t gold-equivalent cut-off)


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$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

0% 20% 40% 60% 80% 100%

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17

Cas

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osts

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g R

oya

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(US

$/o

z)

Cumulative 2017 Production

Rainy River 5-Year Average Cash Cost: US$413/oz gold (open pit)

Lowest Quartile Cash Cost Producer

8

Source – Brook Hunt , courtesy of BMO Capital Markets.

Brook Hunt data includes global open pit cash costs in 2017, including Royalties

FIRST QUARTILE SECOND QUARTILE THIRD QUARTILE FOURTH QUARTILE

Rainy River 10-year Average Cash Cost: US$468/oz gold


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FEASIBILITY STUDY

Mike Mutchler, VP and COO

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Production and Cash Flow Profile

10

-1,000,000

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1,000,000

1,500,000

2,000,000

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100

150

200

250

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400

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-2 -1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

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nt)

YEAR

Silver in GEO

Gold

Cumulative FCF C$000 (US$1400/oz gold, US$25/oz silver)


Open Pit

Preproduction

($713M)

Underground

Development

($68M)

Sustaining Capital

Open Pit: $322 M

Underground: $95 M

$1.6B

$2.0B

Average Annual Production: 326,000 ounces gold, 494,000 ounces silver = 335,000 gold-equivalent ounces

Notes:

“GEO” = gold equivalent ounces. Cumulative FCF is after-tax


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Feasibility Design Basis

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RRGP designed as follows:

• Combined pit and underground mine, owner operated

• Open pit scaled for 21,000 to 20,000 tpd ore

• Underground sized for 1,000 tpd ore

• Conventional on-site processing to gold dore

• Crush, grind, gravity and CIP leach

• Processing throughput of 21,000 tpd (7.65 Mtpy)

• Site infrastructure includes:

• Tailings impoundment, overburden storage, waste

dumps, power transmission line, road access and re-

routing of Hwy 600


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Feasibility Study Assumptions

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Gold Price $1,400 USD/oz

Silver Price $25 USD/oz

Exchange rate 1.00 CAD: 1.00 USD (Initial)

1.07 CAD: 1.00 USD (Operations)

Discount rate 5%

Mine Equipment Lease 4.5% over 8 years

Gold Recovery 90.4% (variable by grade)

Silver Recovery 64.1% (variable by grade)

Open Pit Production 21,000 tpd, scaling down to 20,000 tpd

Underground Production 1,000 tpd

Process Plant Capacity 21,000 tpd

Mine Life 16 years


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overburden

Open Pit Design for Elevated Grade

13

FS Pit Design

Resource Pit


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Underground Design Higher margin, lower risk approach

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17E

Cut & Fill ODM

Longhole

Portal

Open Pit

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Mine Design – Open Pit Sliding cut-off to maximize grade in early years

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Open Pit Specifications

• 70.1 Mt @ 1.34 g/t Au, 3.07 Ag direct ore to mill

• 43.1 Mt @ 0.37 g/t Au, 1.97 Ag ore to stockpile

• 350 Mt waste rock

• 80 Mt overburden (OB)

• 2.8:1 operating strip ratio (excl. OB and capitalized waste)

• 3.8:1 total strip ratio

• Maximum mining rate – 63 Mtpy

Pit dimensions – 1.7km x 1.5 km x 400m

Major equipment

• 19 x 226t haul trucks

• 3 x 28 m3 hydraulic shovels

• 1 x 16 m3 front end loader

• 3 production drills, 2 RC drills

• 6 x 580 hp dozers

• 2 x 300 hp graders

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Mine Design – Underground 3.5 g/t cut-off, 1,000 tpd high grade mill feed

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N Total development = 28,000 metres

17E

Cut & Fill ODM

Longhole

433

Vent Raise

Vent Raise

METHOD TONNAGE Au g/t Ag g/t

Longhole (80%) 2.40 Mt 5.29 3.04

Cut & Fill (20%) 0.65 Mt 4.22 20.5

Development 0.10 Mt 5.44 3.06

Total UG 3.11 Mt 5.07 6.69


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Mine Operating Costs

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Open pit mining Costs

Overburden $1.42

Ore & Waste $1.95

Stockpile re-handle $0.91

($0.85/litre diesel price)

Open pit parameters

• 1.7km x 1.5 km x 400m deep

• Max 63 Mtpy production

• 10m benches

Underground parameters

• Long-hole (80% by volume)

• Primary stopes 10m x 10m

• Secondary stopes 10m x 20m

• Cut-and-Fill (20% by volume)

• 5m lifts

• Fleet of 5.4m3 load-haul dump trucks

and 27m3 trucks

Underground mining Costs

Cut & fill consumables $ 5.76

Cut & fill opex development $ 2.19

Longhole consumables $ 14.08

Longhole opex development $ 3.86

Fixed costs $ 11.90

Labour costs $ 37.73

Total $/t mined $ 75.52


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Process Plant Design

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Process Design Criteria

• AxB = 24.2

• Bond work index = 15.0

• Crusher work index = 25.0

• 80th percentile BWI & AXB used for mill design

Major Process Equipment

• Crusher: 54” x 75”; 448 kW (600 HP)

• Coarse ore stockpile – 60,000 tonnes w/ 20,000 tonne live storage

• SAG Mill: 36’ x 20’; 15 MW (20,000 HP)

• Ball Mill: 26’ x 40.5’; 15 MW (20,000 HP)

• P80 = 75 micron grind

• Pebble Crusher: 448 kW (600 HP)

• Leach Tanks: 8 x 18 m Ø, 30-hour leach

• CIP Tanks: 7 x 330 m3

Life of mine metal recoveries & Opex

• Gold: 90.4%

• Silver: 64.1%

• $8.65/t milled


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Process Flow Sheet

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BALL MILL

SAG MILL

PEBBLE CRUSHER

GYRATORY

CRUSHER

GRAVITY

CONCENTRATORS

INTENSIVE

CYANIDATION

REACTOR

PRE-LEACH

THICKENER

CYANIDE LEACH

CARBON-IN-

PULP

PROCESS

WATER

TANK

CARBON STRIPPING

DORÉ BAR

ELECTRO

WINNING

CYANIDE

DESTRUCTION TAILINGS POND

PRE-DETOX

THICKENER

PROCESS

WATER

TANK

ELECTRO

WINNING

SCALPING

SCREEN

REFINING

CYCLONES

PUMP BOX

& PUMP


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Tailings & Infrastructure

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Area Description

Power transmission line 16.7 km of 230 kV line, switchyard and substation

Road access Highway 600 bypass (10 km)

East access road (5 km)

Tailings impoundment 13 M m3 of total dam construction, 250k m3 of diversion

and spillway excavation. Mine supplies bulk of

construction materials (clay, NPAG waste)

Water management system McCallum creek water intake – 20% of spring flow, 15%

of fall flow required from Pinewood River. Daily water

consumption 20,350 m3. 92% water recycled


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Mill location – Roen Road Tailings area Communications

Waste Dump 230 kV & 115 kV lines – 17km away

RRGP Infrastructure Excellent access to project site & power


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Production schedule – Processed grade

23

0

1

2

3

4

5

6

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Fee

d G

rad

e (

g/t)

Combined Mill Feed Grade

Gold Silver

Year 1-10 average grade: 1.46 g/t Au, 3.19 g/t Ag


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-

100,000

200,000

300,000

400,000

500,000

600,000

700,000

800,000

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031

Pro

du

ctio

n (

oz)

Combined Gold and Silver Production

Gold Silver

Production schedule – Metal production

24

Year 1-10 average: 326k oz Au, 494k oz Ag


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Project Capital: Open Pit Components

25

Sustaining Capital: $322 M

Pre-Production Capital: $713M

16% Indirect Costs $112.8M

15% Site and Mine

Infrastructure $105.7M

8% Contingency $55.0M

6% Overburden Stripping

$43.1M

6% Tailings and Water

Management $44.9M 4% Equipment $26.2M

40% Process Plant $283.7M

6% Waste Stripping $41.9M

7% Tailings Dam

Construction $23.6M

50% Equipment Capital Lease

$161.5M

22% Overburden Stripping

Cost $70.7M

19% Waste Stripping

Costs $62.7M

1% Site Development, Facilities, net

$3.4M


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Project Capital: Underground Components

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Sustaining Capital: $95 M

Development Capital: $68 M

76% Mining Equipment and


24% Vertical & Horizontal

Development $51.7M

59% Vertical Development $55.9M

41% Mining Equipment and



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Consultants and Contractors

• Engineering and Procurement – BBA

• Osisko, Detour, Thompson Creek

• Construction Management – Merit Consulting

• Copper Mountain, Goldcorp Red Lake

• Permitting & Environmental – AMEC

• Detour Lake (Detour), Victor (De Beers), Hollinger (Goldcorp)

• Resources – SRK

• Fresnillo, Agnico Eagle, Queenston/Osisko

• Metallurgical Testwork – SGS

• Barrick, Teck, Goldcorp, Agnico Eagle

• UG Mine Planning – Golder Associates

• Mercedes (Yamana), Kiggavik (AREVA)

• Energy Consulting – SanZoe

• Detour Lake (Detour)

• Road Consulting – TBT Engineering

• MTO

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http://www.tbte.ca/index.php


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COMMUNITY AND ENVIRONMENT

Kyle Stanfield, VP Environment and Sustainability

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Community Relations

• Quarterly Community Newsletter

• Environmental Assessment Community Open Houses underway

• Extremely strong grassroots Community support

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PDAC Mining Matters Program

2012 Class


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First Nations & Métis Engagement

• Community Liaison Position in place since the spring of 2010

• Regular Community updates, site tours and meetings

• Participation Agreement in support of Mine Environmental Assessment

• Supporting training and business development opportunities

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Provincial and Federal Agency Discussions

• The RRGP was recently selected by the Federal/Provincial Regulatory

Reform Working Group to receive enhanced project involvement from

senior government executives and Ministers thereby providing direct

support towards an efficient and effective project review.

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Site Photos

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Baseline Environmental Assessment

• Fourth year of baseline environmental study now completed – the most

environmental data collected for any project of its kind in Eastern Canada.

• No lakes located within the Project footprint and the streams that are

present do not support a commercial or recreational fishery.

• Working closely with the Ministry of Natural Resources and our

consultants to understand Species at Risk in support of management and

project permitting. Includes funding a 2 year research study.

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Mine Environmental Assessment & Permitting

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• Coordinated Federal/Provincial Mine Environmental Assessment (EA) underway

with mine EA schedule developed with the Federal and Provincial agencies.

• Provincial Process: Proposed Terms of Reference submitted

• Federal Process: EIS Guidelines issued December 2012

• Mine Environmental Assessment Report to Agencies – Q3 2013

• Ontario and Federal Ministers EA Decision, Construction Authorization – 1H 2014

• Operating Permits and Approvals – 2H 2015 to 1H 2016


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FINANCIAL REVIEW

Nick Nikolakakis, VP and CFO

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Basic Shares Outstanding 99.9 million

FD Shares Outstanding 109.8 million

Cash and Equivalents (Dec 31, 2012) C$102 million

Debt C$0

Market Value Basic (based on $2.70 share price) C$270 million

Enterprise Value (based on $2.70 share price) C$168 million

Rated by 9 Analysts 6 “buys”, 3 “holds”

Ownership

60% Institutional

37% Retail

3% Management

Significant Institutional Shareholder Base Top 5 own ~30%

Ticker Symbol RR on the TSX Main Board

Strong Capital Structure and Institutional Support


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RRGP – Robust Project Metrics

• At $1400 Au, $25 Ag: NPV5% of $931M, after tax

IRR of 23.7%

Payback of 3.2 years

Free cash flow over $2 B, first 10 years

37

Gold / Silver

US$ per oz

$1250 / $25 $1400 / $25 $1600 / $30 $1800 / $35

NPV @ 5% - Pre-tax

- After-tax

$1.0B

$0.7B

$1.3B

$0.9B

$1.7B

$1.2B

$2.1B

$1.5B

IRR - Pre-tax

- After-tax

23.5%

19.9%

27.8%

23.7%

32.8%

27.9%

37.6%

32.1%

Annual free cash flow

Over 5 years, pre-tax

Over 5 years, after-tax

$244M

$214M

$284M

$245M

$335M

$278M

$387M

$316M


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Production and Cash Flow Profile

38

-1,000,000

-500,000

0

500,000

1,000,000

1,500,000

2,000,000

0

50

100

150

200

250

300

350

400

450

-2 -1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16

Cu

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(C$

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RO

DU

CT

ION

(ko

z g

old

-eq

uiv

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nt)

YEAR

Silver in GEO

Gold



Open Pit

Preproduction

($713M)

Underground

Development

($68M)

Sustaining Capital

Open Pit: $322 M

Underground: $95 M

$1.6B

$2.0B

Average Annual Production: 326,000 ounces gold, 494,000 ounces silver = 335,000 gold-equivalent ounces

Notes:

“GEO” = gold equivalent ounces. Cumulative FCF is after-tax


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Capital Plan

• $102 million in cash and equivalents, as at Dec 31, 2012

• Secure remaining financing over a 3 year window

• Numerous funding alternatives under review, including:

• Monetization of silver production from the mine 10.3 Moz

• Project financing

• Lease financing

• High yield debt financing

• Convertible debentures

• Equity

Plan is to raise the necessary capital, while minimizing

equity dilution.

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RRGP - An Undervalued Story

RR NAV, Base Case =$931 M (RRGP NAV) + $102 M (Cash)

=$1033 M

Value Gap =$763 M

Current Market Cap =$ 270 M

Price / NAV = 0.26x

Yet to come:

Intrepid Zone

Regional Exploration

WHAT IS THE TRUE VALUE GAP?

40


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EXPLORATION:

DISTRICT AND UNDERGROUND

Kerry Sparkes, VP Exploration

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An Emerging Canadian Gold District

Location:

• “Mining-Friendly” Ontario.

• 65 km from Fort Frances.


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Rainy River Resource: Organic Growth in Gold October 2012 based on drill data as of June 10: 657,500 metres

1,424 diamond drill holes

43

Qualified Persons – The mineral resource statement was prepared by Dorota El-Rassi, P.Eng. (APEO #100012348) and Glen Cole, P.Geo (APGO #1416), of SRK, both “independent qualified persons” as that term is defined in

National Instrument 43-101. Rainy River’s exploration program in Richardson Township is being supervised by Kerry Sparkes, P.Geo (APEGBC #25261), Vice-President Exploration and a Qualified Person as defined by National

Instrument 43-101. The Company continues to implement a rigorous QA/QC program to ensure best practices in sampling and analysis of drill core. The procedures of the QA/QC program are detailed on Rainy River’s website

at www.rainyriverresources.com.


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44

Rainy River Resource: Organic Growth in Silver October 2012 based on drill data as of June 10: 657,500 metres

1,424 diamond drill holes

Qualified Persons – The mineral resource statement was prepared by Dorota El-Rassi, P.Eng. (APEO #100012348) and Glen Cole, P.Geo (APGO #1416), of SRK, both “independent qualified persons” as that term is defined in

National Instrument 43-101. Rainy River’s exploration program in Richardson Township is being supervised by Kerry Sparkes, P.Geo (APEGBC #25261), Vice-President Exploration and a Qualified Person as defined by National

Instrument 43-101. The Company continues to implement a rigorous QA/QC program to ensure best practices in sampling and analysis of drill core. The procedures of the QA/QC program are detailed on Rainy River’s website

at www.rainyriverresources.com.


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District Potential for Growth


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Pit Outline and Ramp Design:

Intrepid Conveniently Located

48

N


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49 Deposit Cross Section

49

NR121256: 1.1 & 5.1 / 9.0

NR121256: 1.9 & 7.5 / 3.8

NR121256: 34.8 & 6.9 / 1.5

NR121256: 1.2 & 6.7 / 10.5


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50 Vertical Longitudinal Section

Approximately 4 km


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NEXT STEPS

Raymond Threlkeld, President and CEO

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Project Timeline: Focus on De-Risking

Feasibility Study April 2013

• Environmental Assessment Q3-2013

• Environmental Approvals Q3-2014

• Commence Construction Q3-2014

• Production Q3-2016

• Intrepid Resource Q3-2013

• Intrepid Scoping Q4-2013

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Why Rainy River?

53

1. First 10 years. 2. Includes depreciation of pre-production and sustaining capital costs.

•HIGH QUALITY, LOW RISK PROJECT

•4 million ounces of Proven and Probable gold reserves

•Low “all-in” costs of $7711,2 per ounce gold

•Low cash costs of US$4681 per ounce gold

•Milled grade of 1.46 g/t1

•Location, location, location

•UNREALIZED DISTRICT POTENTIAL

•New discovery, Intrepid Zone, with potential for near-term cash flow

•Further potential for discovery along 6km trend

•PROVEN MANAGEMENT TEAM

•Team has financed and built mines around the world

•STRONG FINANCIAL POSITION

•$102 M as of Dec 31, 2012

CURRENTLY TRADING AT 0.3x NAV


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RRGP Stands Out Amongst Its Peers

54

RRGP

(years 1-10)

Malartic Detour Blackwater Cote

Head grade, g/t 1.46 0.97 0.96 0.86 0.85

Tonnes per day,

milled 21,000 60,000 58,000 60,000 52,000

Average

ounces gold

per year

326,000 541,000 597,000 523,000 481,000

Start-Up Year 2016 2011 2013 2017 2017

Initial Capex $713 $839 $1,733 $1,815 $1,696

Sustaining

Capex $484* $709 $1,206 $537 $725

Cash cost,

US$/oz gold $468 $679 $775 $599 $729

All-in** cost,

US$/oz gold $771 $957 $1,178 $1,205 $1,189

Comparison data courtesy of BMO Capital Markets.

*Includes underground development and sustaining capital, in addition to open pit sustaining capital.

**“All –in” costs include pre-production, development and sustaining capital costs, as well as cash costs (including royalties and site G&A, and net of silver credits)


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The Rainy River Gold Project

55

• High quality, low risk project

• “Unrealized District Potential”

• Proven Management Team

• Strong Financial Position

N


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APPENDIX

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57

Raymond Threlkeld, President and CEO

30+ years in industry.

Former President & CEO of Western Goldfields.

Former VP Project Development of Barrick Gold Corp.

Mike Mutchler, VP and COO

30+ years in industry. 20 years with ASARCO as Engineer, Mine

Manager and General Manager. Former Kinross VP, Project

Development Services, Project Manager Paracatu, Mining

Manager Cerro Casale.

Nick Nikolakakis, VP and CFO

18 years in corporate finance, accounting, including as VP

Finance at Barrick Gold Corp, Regional CFO at Placer Dome.

Former investment banker with BMO Nesbitt Burns.

Kerry Sparkes, VP Exploration

22+ years experience in mineral exploration; P. Geo.

Instrumental in the discovery and delineation of the Voisey’s

Bay nickel deposit.

Garett Macdonald, VP Operations

17 years experience in mine engineering and operations.

Professional Engineer and MBA. Previously with Placer Dome

and Suncor Energy.

Kyle Stanfield, VP, Environment & Sustainability

17 years environmental assessment and mine permitting.

Led BC’s largest harmonized mining environmental assessment.

Previously with Placer Dome: Africa, South America, Canada

Gerry Shields, VP and General Counsel

30+ years as a lawyer, advising public and private entities.

Advised on equity financings, M&A, corporate governance and

general corporate and securities law.

Management Team: Over 160 years of experience Proven Mine Builders and Financiers


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RRGP – Reserves (April 2013)

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*Open Pit Reserves have been estimated using a cut-off grade of 0.30 g/t gold-equivalent, and Underground Reserves have been estimated using a cut-off grade of 3.5 g/t gold-equivalent. Open Pit Reserves

have been estimated using a dilution of 9.7% at 0.22 g/t Au and 1.31 g/t Ag, and Underground Reserves have been estimated using a CAF dilution of 9% at 0.61 g/t Au and 4.16 g/t Ag and LH dilution of 10% at

1.56 gpt Au and 1.28 gpt Ag. Open Pit Reserves have been estimated using a mine recovery of 95%, and Underground reserves have been estimated using a mine recovery of 95%.

Qualified persons - The mineral reserve statement was prepared by Patrice Live (OIQ #38991) of BBA and Donald Tolfree (APEGBC #32557), of Golder , both "independent qualified persons" as that term is

defined in National Instrument 43-101. Rainy River's engineering assessment in Richardson Township is being supervised by Garett Macdonald, P.Eng. (PEO #90475344), Vice-President Operations and a

Qualified Person as defined by National Instrument 43-101.

Reserves are derived from the October 10. 2012 Resource Statement, prepared by Dorota El-Rassi, P.Eng. (APEO #100012348) and Glen Cole, P.Geo (APGO #1416), of SRK, both "independent qualified

persons" as that term is defined in National Instrument 43-101. Rainy River’s exploration program in Richardson Township is being supervised by Kerry Sparkes, P.Geo. (APEGBC #25261), Vice-President

Exploration and a Qualified Person as defined by National Instrument 43-101. The Company continues to implement a rigorous QA/QC program to ensure best practices in sampling and analysis of drill core.

Mineral Reserves, Rainy River Gold Project, BBA and Golder, April 10, 2013

Quantity Grade Metal

Mt Au gpt Ag gpt Au ‘000 oz Ag ‘000 oz

Open Pit*

Proven 27.7 1.14 1.94 1,015 1,728

Probable 85.5 0.91 2.88 2.511 7,919

Total 113.2 0.97 2.65 3.525 9,647

Underground*

Proven - - - - -

Probable 3.1 5.07 6.69 506 668

Total 3.1 5.07 6.69 506 668

Combined Mining*

Proven 27.7 1.14 1.94 1,015 1,728

Probable 88.6 1.06 3.01 3,017 8,587

Total 116.3 1.08 2.76 4,031 10,315


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DEFINING CANADA’S NEWEST GOLD DISTRICT

Indi Gopinathan, Director, Investor Relations

Telephone: 416.645.7289

Email: [email protected]

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Rainy River Resources Ltd. Analyst Day - April 2013

Business

Transcript of Rainy River Resources Ltd. Analyst Day - April 2013