Rainier Resources Ltd. announces Salman Partners Inc. will act as agent to raise private equity to drill cardium wells

CALGARY, June 27, 2012 /CNW/ - Rainier Resources Ltd. (Rainier or The Company) is pleased to announce it has entered into an engagement letter with Salman Partners Inc. to sell on behalf of Rainier, on a commercially reasonable effort basis, up to 20 million dollars of securities in a private placement.

The securities to be offered consists of up to 20,000,000 units ("the Units") priced at $1.00, consisting of one common share (a "Common Share") and one half non-transferable common share purchase warrant (a "Warrant"). The warrant is exercisable by the holder thereof to purchase an additional Common Share at an exercise price of $1.50 (the "Exercise Price") for a period of eighteen months.

The Offering will have an over-allotment option (the "Overallotment Option") which will allow Salman Partners Inc.to offer up to an additional $4,000,000 Units at a $1.00 per Unit, to be exercisable in whole or in part at any time until to the Closing Date of July 31, 2012.

The net proceeds from the Offering will be allocated to fund exploration and development activity in the Companies' focused area.

Salman Partners Inc. is an independent, research-driven investment dealer serving institutional, corporate, and individual clients since 1994. Salman Partners' highly skilled and experienced investment banking professionals offer a long-term commitment to providing investment banking coverage, by way of institutional research, corporate finance ideas and institutional sales and trading.

Rainier Resources Ltd. is a junior exploration and development oil and gas company focused on oil exploration activities in Alberta and Saskatchewan. The Company is actively seeking further opportunities.

Forward Looking Statements: This news release contains forward looking statements based on management's current expectations. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by Rainier at the time of preparation, may prove to be incorrect. The forward looking statements contained in this news release are made as at the date of this news release and, Rainier does not undertake any obligation to update publicly or otherwise any such statements, except as required by applicable laws.

SOURCE Rainier Resources Ltd.

For further information:

Dave Barlass
President & CEO
work: 403 457- 5966
cell:   403 461- 4570
david.barlass@rainierresources.com

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Rainier Resources Ltd.

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