TORONTO STOCK EXCHANGE SYMBOL: RMX
AMEX SYMBOL: RBY
VANCOUVER, Dec. 14 /CNW/ - Rubicon Minerals Corporation (RMX.T:RBY.AMEX)
is pleased to report that Perry English, who has provided full time
prospecting services to Rubicon since 2003, has received the 2007 Ontario
Prospector Award at a recent dinner and awards ceremony in Sudbury, Ontario.
In 2003, Rubicon purchased Perry's interests in 90 mineral properties and
agreements in Ontario and created the English Royalty Division (ERD). The
motivation for Rubicon was to 'buy-back' its own option deals in Red Lake from
Perry, thus saving future cash and share option payments. In addition, Rubicon
received cash and share payments from all other deals. Perry also provided his
exclusive services to Rubicon to source new property acquisitions and enter
into additional option agreements, a successful arrangement which continues to
the present day. A summary of the ERD demonstrates that unique contribution
that Perry has made:
1) Over 100 new option agreements have been generated since the
deal was signed.
2) Approximately 12,000 claim units have been staked at no net
cost to Rubicon.
3) Cash plus share option payments over three years valued at
over $1.5 million.
4) With 67 current agreements, Rubicon has exposure through
royalty interests to 67 projects in areas and commodities
outside of its core focus.
"Our association with Perry goes back to the late 1990's when it quickly
became apparent that in order to expand into Red Lake, Ontario, we needed to
talk to Perry. Since that time this unique association has turned into a
successful business relationship and friendship which has led to significant
new opportunities and cash flow for Rubicon and ultimately leads to funds
being injected into the Ontario mineral exploration industry which otherwise
may well have gone elsewhere."
"In our view Perry is unique in our industry. He is a one-man project
generator who displays a combination of experience, contacts and the proven
ability to deliver deals. In many ways, he represents a new-age prospector
utilizing the technology that surrounds claims and claim staking in the modern
Ontario while at the same time ready and willing to roll up his sleeves and
'turn over the moss' in the hunt for new mineral occurrences. The prospector
continues to be a mainstay in the Canadian mining business and no-one
exemplifies this better than Perry. We extend our hearty congratulations on
his well deserved award and look forward to our continuing relationship,"
stated David Adamson, President and CEO.
This news release contains certain statements that may be deemed
"forward-looking statements". All statements in this release, other than
statements of historical fact, that address events or developments that the
Company expects to occur, are forward-looking statements. Forward-looking
statements are statements that are not historical facts and are generally, but
not always, identified by the words "expects", "plans", "anticipates",
"believes", "intends", "estimates", "projects", "potential" and similar
expressions, or that events or conditions "will", "would", "may", "could" or
"should" occur. Forward-looking statements in this document include statements
regarding future exploration programs and joint venture partner participation.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results may
differ materially from those in the forward-looking statements. Factors that
could cause the actual results to differ materially from those in
forward-looking statements include market prices, exploitation and exploration
successes, continued availability of capital and financing, inability to
obtain required shareholder or regulatory approvals, and general economic,
market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward-looking
statements. Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are made. The
Company undertakes no obligation to update these forward-looking statements in
the event that management's beliefs, estimates or opinions, or other factors,
These statements are based on a number of assumptions, including, among
others, assumptions regarding general business and economic conditions, the
timing of the receipt of shareholder, regulatory and governmental approvals
for Rubicon's proposed transactions, the availability of financing for
Rubicon's proposed transactions and exploration and development programs on
reasonable terms and the ability of third-party service providers to deliver
services in a timely manner. The foregoing list of assumptions is not
exhaustive. Events or circumstances could cause results to differ materially.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information:
For further information: Bill Cavalluzzo, VP Investor Relations, Toll
free: 1-866-365-4706, E-mail: email@example.com; Rubicon
Minerals Corporation, Suite 1540-800 West Pender Street, Vancouver, BC,
CANADA, V6C 2V6