Rainy River Resources Ltd. Corporate Presentation - April 2013

Forward Looking Information
TSX: RR

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.

© 2013 RAINY RIVER RESOURCES LTD. 2

Rainy River Resources Ltd.
TSX: RR

Rainy River Gold Project Capital Profile
• 4.0 million ounces in reserves • Shares*, M, Basic 99.9
• Intermediate production profile M, Fully diluted 109.8
• Low cash costs • Cash*, C$M $102
• Low infrastructure costs • Market Cap, C$M $270
• Proven Management team • Covered by 9 Analysts
• Excellent exploration upside
• Strong financial position

As at Dec 31, 2012.

Located in Mining Friendly Ontario, Canada
TSX: RR

Half of the 12 recently announced junior gold acquisitions were for
projects located in Canada, a safe, mining-friendly jurisdiction.

Rainy River
Gold Project


Why Rainy River?
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•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 gold
•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
1. First 10 years. 2. Includes depreciation of pre-production and sustaining capital costs.


RRGP Feasibility Study Highlights, April 2013
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AN INTERMEDIATE PRODUCER WITH LOW CASH COSTS
AND 4.0 MOZ IN RESERVES
Open Pit Reserve: 70.1 Mt @ 1.34 g/t gold, 3.07 g/t silver
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
Processing Rate 20-21 ktpd open pit, 1 ktpd underground
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 of initial and sustaining capital.
Initial Capital: C$713 M
NPV5% C$931 M, after-tax
IRR$1400/oz gold, $25/oz silver 23.7% , after-tax

RRGP – Robust Project Metrics
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• 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

Gold / Silver $1250 / $25 $1400 / $25 $1600 / $30 $1800 / $35
US$ per oz
NPV @ 5% - Pre-tax $1.0B $1.3B $1.7B $2.1B
- After-tax $0.7B $0.9B $1.2B $1.5B

IRR - Pre-tax 23.5% 27.8% 32.8% 37.6%
- After-tax 19.9% 23.7% 27.9% 32.1%

Annual free cash flow
Over 5 years, pre-tax $244M $284M $335M $387M
Over 5 years, after-tax $214M $245M $278M $316M


Production and Cash Flow Profile
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Average Annual Production: 326,000 ounces gold, 494,000 ounces silver = 335,000 gold-equivalent ounces

$2.0B
450 2,000,000

$1.6B
PRODUCTION (koz gold-equivalent)

Cumulative Free Cash Flow (C$000)
400
1,500,000
350

300 1,000,000

250
500,000
200

150 0

100
-500,000
50

0 -1,000,000
-2 -1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
YEAR
Silver in GEO
Underground Sustaining Capital Gold
Open Pit
Development Open Pit: $322 M Cumulative FCF C$000 (US$1400/oz gold, US$25/oz silver)
Preproduction
($68M) Underground: $95 M Cumulative FCF C$000 (US$1600/oz gold, US$30/oz silver)
($713M) Notes:
“GEO” = gold equivalent ounces. Cumulative FCF is after-tax

The Rainy River Gold Project (RRGP)
TSX: RR

• High quality, low risk project • Proven Management Team
• “Unrealized District Potential” • Strong Financial Position

3D View Looking North


Pit Design for Elevated Grade
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overburden

FS Pit Design

Resource Pit


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Project Infrastructure:
• Power, rail within 25 km.
• Year round access.


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Site Topography
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Mine Environmental Assessment & Permitting
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May 2012 – Document Submissions
Provincial: Draft Terms of Reference Federal: Project Description

1H/2013
Mine Environmental Assessment Report to Agencies

1H/2014
Ontario and Federal Ministers Decision

2H/2015
Operating Permits and Approvals

Community and Environment
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Environmental Risk Mitigation
• No fish bearing lakes
• Design with no-effect discharge
• Plan for encapsulation of potentially acid-generating rock
• Submerged tailings closure design (standard Canadian procedure)
• Private land

Community Engagement: Completed to-date
 Participation Agreement (PA) with Fort Frances Chiefs Secretariat
 Memorandum of Understanding (MOU) with Big Grassy First Nations
 Setup Advisory Committee under PA to:
• Maintain consultation
• Facilitate communication and understanding of the EA process
• Potential effects and inclusion of Traditional Knowledge


Project Timeline: Focus on De-Risking
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 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


Making the Grade - Comparison to Peer Projects
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Highest Grade M&I Resources of 8 Canadian Bulk Tonnage Gold Deposits
1.40
(at a 0.30 g/t gold-equivalent cut-off)

1.20
M&I Resource Grade - g/t gold

1.00

0.80

0.60

0.40

0.20

0.00
RRGP (Rainy Malartic Borden Cote Magino Detour Lake Blackwater Hammond
River) (Osisko) (Probe) (Iamgold) (Argonaut) (Detour) (New Gold) Reef (Osisko)
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

RRGP Stands Out Amongst Its Peers
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RRGP Malartic Detour Blackwater Cote
(years 1-10)
Head grade, g/t 1.46 0.97 0.96 0.86 0.85

Tonnes per day,
21,000 60,000 58,000 60,000 52,000
milled
Average
ounces gold 326,000 541,000 597,000 523,000 481,000
per year

Start-Up Year 2016 2011 2013 2017 2017

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

Sustaining
$484* $709 $1,206 $537 $725
Capex
Cash cost,
$468 $679 $775 $599 $729
US$/oz gold
All-in** cost,
$771 $957 $1,178 $1,205 $1,189
US$/oz gold
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)

RRGP - An Undervalued Story
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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?


District Potential for Growth

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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

Deposit Cross Section

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Vertical Longitudinal Section

Pit Outline and Ramp Design:
Intrepid Conveniently Located
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24

© 2013 RAINY RIVER RESOURCES LTD.

TSX: RR


TSX: RR

Composite of Drill Holes

The Rainy River Gold Project (RRGP)
TSX: RR

• High quality, low risk project • Proven Management Team
• “Unrealized District Potential” • Strong Financial Position



TSX: RR

QUESTIONS?

Strong Capital Structure and Institutional Support
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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”

60% Institutional

Ownership 37% Retail

3% Management

Significant Institutional Shareholder Base Top 5 own ~30%

Ticker Symbol RR on the TSX Main Board


History
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The Rainy River Gold Project has attracted exploration interest since 1967. Various companies including Noranda, International Nickel
Corporation of Canada, Hudson’s Bay Exploration and Development and Mingold Resources operated in the area centred on the Rainy
River Gold Project between 1967 and 1989. The Ontario Geological Survey undertook geological mapping in 1971 and again in 1987 to
1988 in conjunction with a rotasonic overburden drilling program. Nuinsco Resources Limited undertook exploration activities between
1990 and 2004, with Rainy River continuing from 2005 onwards.

Nuinsco drilled a series of widely spaced reverse circulation drill holes from 1994 to 1998, defining a fifteen kilometre long “gold-grains-in-
till” dispersal train emanating from a thickly overburden-covered, six square kilometre “gold-in-bedrock” anomaly. Nuinsco completed a
series of diamond drill programs to assess the mineral potential of the above anomalies which led to the initial discovery of the 17 Zone in
1994. Nuinsco subsequently discovered the 34 Zone in 1995 and 433 Zone in 1997. Between 1994 and 1998, Nuinsco drilled 597 reverse
circulation holes and 217 diamond drill holes (49,515 metres). These were mostly in the Richardson area. The 34 Zone was further drill
tested between 1999 and 2004.

In June 2005, Rainy River completed the acquisition of a 100 percent interest in the project from Nuinsco. In the same year, Rainy River
relogged key sections of the historical core drilled on the property and then input all of the data into a GIS database. Rainy River
subsequently drilled in excess of 100 reverse circulation holes in three phases to better define the gold-in-till and gold-in- bedrock”
anomalies.

Between 2005 and 2007, 209 diamond drill holes for 95,340 metres were drilled. In April 2008, a mineral resource estimate was
completed by CCIC. In 2009, SRK prepared a mineral resource statement incorporating information from an additional 112 core
boreholes (59,719 metres) drilled during 2008. In early 2010, SRK prepared a revised mineral resource statement to incorporate
information from 124 core boreholes (68,453 metres) drilled on the project during 2009. In early 2011, SRK updated the mineral resource
statement to incorporate information from 163 core boreholes (84,648 metres) drilled on the project during 2010. A further 17,100 metres
were included in the June 29, 2011 resource statement, with a further 170,000 metres incorporated in the February 24, 2012 statement.
On October 10, 2012, the latest resource update was issued, incorporating 145 more drill holes (79,238 metres).


Geology
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Regional and Local Geology
The Rainy River Gold Project falls within the 2.7 billion year Rainy River Greenstone Belt that forms part of the Wabigoon Subprovince.
The Wabigoon Subprovince is a 900 kilometre long east-west trending area of komaiitic to calc-alkaline metavolcanics that are in turn
succeeded by clastics and chemical sediments. Granitoid batholiths have intruded into these rocks, forming synformal structures in the
supracrustals that often have shear zones along their axial planes.
The Wabigoon Subprovince basement lithologies were overlain by Mesozoic (Jurassic and Cretaceous) sediments and were subjected to
deep lateritic weathering followed by Quaternary glaciation. Limited preservation of the Mesozoic cover sediments and saprolite occurs in
localized palaeo-lows.
The Wabigoon basement rocks and remnant Mesozoic cover sediments are overlain by Labradorian till of northeastern provenance. This
till has been found to contain anomalous concentrations of gold grains, auriferous pyrite and copper-zinc sulphides. It is overlain by a
glaciolacustrine clay and silt horizon and by argillaceous and calcareous Keewatin till of western provenance.
The Rainy River Gold Project is primarily underlain by a series of tholeiitic mafic rocks that are structurally overlain by calc-alkalic
intermediate to felsic metavolcanic rocks. Intermediate rocks (dacites) host most of the gold mineralization. At a regional scale, the
strongest and earliest deformation event produced a well-defined penetrative fabric. This foliation is approximately parallel to the trend of
the metavolcanic rocks that strike at approximately 120 degrees and dip fifty to seventy degrees to the south. Structural geology studies
by SRK suggest that the current geometry and plunge of the gold mineralization is the result of high strain deforming features associated
with gold mineralization and rotating the mineralization plunge parallel to the stretching direction.
Deposit Types and Mineralization
At least two stages of gold mineralization exists in the Rainy River Gold Project:
Early (low to moderate grade) gold mineralization associated with sulphide (pyrite-sphaleritechalcopyrite-galena) stringers and veins and
disseminated pyrite in quartz-phyric volcaniclastic rocks and conglomerate; and Late (high-grade) gold mineralization associated with
quartz-pyrite-chalcopyrite-gold veins and veinlets.
Both styles of gold mineralization have been progressively overprinted by deformation, The gold mineralization is interpreted as a hybrid
deposit type consisting of an early gold-rich volcanogenic sulphide mineralization overprinted by shear-hosted mesothermal gold
mineralization.
In addition to the gold mineralization, the project also contains nickel, copper and platinum group metals sulphide mineralization
associated with a differentiated ultramafic-mafic intrusion. That magmatic-hydrothermal mineralization occurs within the main auriferous
zones and crosscuts the volcanogenic sulphide mineralization and the later mesothermal gold mineralization associated with the regional
deformation.


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 TSX: RR

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.

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 TSX: RR

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.

Feasibility Study Assumptions
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Gold Price $1,400 USD/oz
Silver Price $25 USD/oz
1.00 CAD: 1.00 USD (Initial)
Exchange rate
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


RRGP – Reserves (April 10, 2013)
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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
*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.


Operations Overview
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Project Profile
• Process SAG Mill, Ball Mill, Gravity, Whole Ore Leach
• Recoveries, LOM 90.4% for Au, 64.1% for Ag
• Production
Open Pit
• Open pit reserve 70.1 Mt @ 1.34 g/t Au, 3.07 g/t Ag
• Stockpile 43 Mt @ 0.37 g/t Au, 1.97 g/t Ag
• Mill Throughput 20 ktpd
• Strip ratio 3.1:1*. Operating strip ratio 2.8:1**
*Excludes overburden material. **Excludes overburden and capitalized waste.

• Open pit mine life 16 years
• Capex Initial C$713 M
• Sustaining C$322 M, includes tailings, waste, overburden, equipment
• Mine cost C$1.95/t mined
Underground
• Underground reserve 3.1 Mt @ 5.07 g/t gold, 6.69 g/t silver
• Mill throughput 500 tpd in Year 3, ramping up to 1,000 tpd in Year 5
• Underground mine life 11 years
• Capex Development C$67.8 M, Years 1-3
Sustaining C$94.6 M, Years 6-10
• Mine Cost C$75.52/t mined
• Processing C$8.65/t milled
• G&A C$1.21/t

Mine Design
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Open Pit Design Underground Design
• 70.1 Mt @ 1.34 g/t Au, 3.07 Ag • 3.1 Mt @ 5.07 g/t Au, 6.69 g/t Ag
• Stockpile: 43 Mt @ 0.37 g/t Au, 1.97 g/t Ag • Production:
• Production: • 0.46 Moz Au, 0.43 Moz Ag
• 3.19 Moz Au, 6.19 Moz Ag • Method: Long Hole (80%), Cut and Fill (20%)
• 2.8 operating strip ratio • 1,000 tpd to mill
• 21,000 tpd to mill • 11 year mine life including development
• 16 year mine life, including stockpile



Process Plant Design - Flowsheet
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PROCESS
GYRATORY PRE-LEACH
WATER
CRUSHER THICKENER
TANK

CYCLONES

SAG MILL SCALPING
SCREEN
PEBBLE CRUSHER

BALL MILL
CYANIDE LEACH

PUMP BOX
& PUMP

CARBON-IN-
GRAVITY PULP
CONCENTRATORS
PROCESS
PRE-DETOX
WATER
CARBON STRIPPING THICKENER
TANK

ELECTRO INTENSIVE
WINNING CYANIDATION
REACTOR

CYANIDE
DESTRUCTION TAILINGS POND
DORÉ BAR REFINING
ELECTRO
WINNING


Project Capital: Open Pit Components
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Pre-Production Capital: $713M
6% Waste Stripping $41.9M
6% Tailings and Water
Management $44.9M 4% Equipment $26.2M
6% Overburden Stripping
40% Process Plant $283.7M
$43.1M
8% Contingency $55.0M
15% Site and Mine
Infrastructure $105.7M
16% Indirect Costs $112.8M

Sustaining Capital: $322 M
7% Tailings Dam 1% Site Development, Facilities, net
Construction $23.6M $3.4M

50% Equipment Capital Lease
19% Waste Stripping
$161.5M
Costs $62.7M

22% Overburden Stripping
Cost $70.7M


Project Capital: Underground Components
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Development Capital: $68 M

76% Mining Equipment and

24% Vertical & Horizontal
Development $51.7M

Sustaining Capital: $95 M

41% Mining Equipment and

59% Vertical Development $55.9M

Consultants and Contractors
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• 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
• Resources – 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


Proven Management Team
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Raymond Threlkeld, President & CEO Nicholas Nikolakakis, Vice President & CFO
• Over 30 years experience in exploration, mine development, • 17 years experience in corporate finance, accounting
mine operations and executive management and senior management

• Former President & CEO of Western Goldfields • Former VP Finance with Barrick Gold Corporation, Regional
CFO with Placer Dome, and investment banker with
• Former Vice President, Project Development with Barrick BMO Nesbitt Burns
Gold Corp.

Michael Mutchler, COO Garett Macdonald, Vice President, Operations
• 30 years of underground and open pit mining experience • P. Eng and MBA with over 15 years experience in mine
in both operations and projects. engineering and operations with Placer Dome and Suncor Energy

• Former Kinross VP, Project Development Services, Project
Manager - Paracatu Mine Optimization feasibility study in
Brazil, Mining Manager - Cerro Casale Mine feasibility study Kerry Sparkes, Vice President, Exploration
in Chile, and Operations Manager - Round Mountain Mine
in Nevada. • P. Geo with over 22 years experience

• 20 years with ASARCO Incorporated in positions of increasing • Instrumental in the discovery and delineation of the Voisey’s
responsibility ranging from Mine Engineer, Mine Foreman, Bay nickel deposit
Mine Manager and General Manager.

Kyle Stanfield, VP, Environment & Sustainability Gerry Shields, Vice President and General Counsel
• 15+ years environmental assessment and mine permitting. • Lawyer with over 30 years of experience in advising both public and
private companies on a broad range of legal matters including
• Led largest harmonized mining environmental assessment in B.C.
equity financings, mergers and acquisitions, takeovers, corporate
(Galore Creek).
governance and general corporate and securities law
• Environmental Engineer with Placer Dome: Africa, South America
and Canada

Board Expertise: Projects,
Finance, Governance TSX: RR

Leo Berezan, Chairman of the Board Richard Pettit, Independent Director
• Established a successful career over past 30 years • C.A.
in commercial real estate development and property
• Over 30 years of experience as a C.A., mainly with
management
PricewaterhouseCoopers where he was a senior partner
• Audit Committee member of their Corporate Advisory and Restructuring practice
• Brings strong financial literacy as well as analytical and risk
management skills to the Rainy Board
Dale Peniuk, Independent Director & Audit • Audit Committee member
Committee Chair
• B.Comm and C.A.
• Provides financial consulting services to a number of Jim Excell, Independent Director
mining companies
• Metallurgical Engineer with extensive senior executive,
• Formerly an assurance partner with KMPG’s Vancouver office, mine management and process engineering experience
specializing in the mining area and the leader of KPMG’s
• Over 30 years with BHP Billiton, responsible for overseeing
Vancouver office mining industry group
the management and development of some of the world’s
premier mining projects including the EKATI diamond mine
in the Northwest Territories.

Stuart Averill, Independent Director
• P.Geo and founder and owner of Overburden Drilling Raymond Threlkeld, Director
Management (ODM)
• Played critical roles in the several discoveries in Canada
including the Collins Bay “B” uranium mine (SK), the Casa
Gerry Shields, Director
Berardi gold district (QC) and the original #17 and #433
gold discoveries at Rainy River


Analyst Coverage
TSX: RR

Analyst Company Email Telephone

John Hayes BMO Capital Markets johnp.hayes@bmo.com 416.359.6189

Eric Winmill Casimir Capital Ltd. ewinmill@casimircapital.ca 416.628.3772

Jeff Killeen CIBC World Markets jeff.killeen@cibc.ca 416.956.6218

Adam Melnyk Desjardins Securities Inc. adam.melnyk@vmd.desjardins.com 416.607.3081

Paolo Lostritto National Bank Financial paolo.lostritto@nbfinancial.com 416.869.6754

Don Blyth Paradigm Capital dblyth@paradigmcap.com 416.360.3461

Sam Crittenden RBC Capital Markets sam.crittenden@rbccm.com 416.842.7886

Leily Omoumi Scotia Capital Inc. leily.omoumi@scotiabank.com 416.945.4527

Craig Stanley Stifel Nicolaus Canada stanleyc@stifel.com 416.815.3103

Rainy River Resources Ltd. is followed by the research analysts listed. Please note that any opinions, estimates, or forecasts regarding Rainy River’s performance made by these analysts are theirs
alone and do not represent opinions, forecasts, or predictions of Rainy River or its management. Rainy River does not, by its reference below or distribution, imply its endorsement of, or concurrence
with, such information, conclusions, or recommendations.
Rainy River does not provide analyst reports to persons outside of the company. Please contact the research analyst directly to obtain a report.


DEFINING CANADA’S NEWEST GOLD DISTRICT
Indi Gopinathan, Director, Investor Relations
TSX: RR
Telephone: 416.645.7289
Email: igopinathan@rainyriverresources.com

© 2013 RAINY RIVER RESOURCES LTD.

Rainy River Resources Ltd. Corporate Presentation - April 2013

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