Rubicon Provides Exploration Update for Red Lake, Ontario and Alaska



    - Drill Mobilizing for McCuaig Project, Red Lake -

    TORONTO STOCK EXCHANGE SYMBOL: RMX
    AMEX SYMBOL: RBY

    VANCOUVER, June 6 /CNW/ - Rubicon Minerals Corp. (RMX.TSX : RBY.AMEX) is
pleased to provide this update on its exploration activities at Red Lake,
Ontario and Alaska:

    McCuaig Project, Red Lake
    -------------------------
    Rubicon and partner Golden Tag Resources Ltd. (GOG: TSX-V) are pleased to
announce that crews have been mobilized to commence a 7,500-metre,
$1.5 million follow-up land-based drill program at the McCuaig Joint Venture
(Rubicon 60% -Golden Tag 40%). Rubicon recently announced (see news release
dated April 16, 2007) encouraging results from a drill hole plus wedge,
designed to test for the possible down-dip extension of the No.1 vein
structure developed at the adjacent former McKenzie Mine. A gold-bearing zone,
in what appears to be a very robust structure, was intersected containing up
to 15.65 g/t gold over 1.55 metres. Drilling will commence on or around June
12.
    Hosted by a well developed 20+ metre wide vein zone, this target is wide
open for follow up, both along strike and down dip. The project is well
located within Balmer rocks on the prolific Red Lake Mine Trend and is
adjacent to both the past-producing McKenzie Mine which produced 651,000
ounces of gold between 1935 and 1966, and the Gold Eagle Mines discovery to
the southeast.

    Phoenix Gold Project, Red Lake
    ------------------------------
    The drilling at the North Peninsula Target at the 100%-controlled Phoenix
Gold Project has been completed. The drill program outlined three new target
areas (see news release dated May 9, 2007) including the North Peninsula
Target. Preliminary results from this area included intercepts of 10.41 g/t
gold over 1.50 metres (incl. 24.80 g/t gold over 0.50 metres), 28.07 g/t gold
over 0.90 metres and 9.93 g/t gold over 1.00 metre.
    Intersected in drill hole NPZ-07-01, the North Peninsula Target comprises
three gold bearing zones, all of which are hosted by altered mafic volcanic
rocks. With an overall strike length of 600 metres (which is open to the north
and south), the North Peninsula Target is wide open at depth. Results from the
remaining seven holes, which focused on the North Peninsula Target are
expected within two weeks.
    Rubicon has also requested bids for the previously announced proposed
underground work (see news release dated January 29, 2007) and has commenced
the permitting process. The costing of this proposed work will be reviewed to
determine whether to proceed with underground exploration and/or focus on
surface based exploration. The Company remains committed to ensuring that
extensive exploration of the Phoenix Gold Project will take place during 2007
and beyond.

    100% Owned Project, Alaska
    --------------------------
    Previous exploration work in 2006 identified several promising areas for
follow up. One of these is associated with a 10 km x 7 km arsenic stream silt
and pan concentrate anomaly within which samples of quartz veins interpreted
as bedrock or sub-crop (close to bedrock) returned anomalous gold (from trace
up to 12 g/t gold). This anomaly is being followed up by additional detailed
mapping, hand trenching and auger-soil sampling prior to carrying out an up to
7,000-foot diamond drill program which is expected to be carried out during
July, 2007. The exploration program will also follow up on several other areas
considered promising for development of drill targets. Approximately
$2.0 million in expenditures are planned for 100% controlled lands in 2007.

    Rimfire Option, Alaska
    ----------------------
    An approximate 4,000-foot drill program has commenced to drill test high
priority targets The program will focus on the Cal-Surf target area which is
where previous work identified well developed gold +/- bismuth soil anomalies.
This $1.0 million program will be managed by Equity Engineering which has
considerable expertise in the Pogo district.

    Rubicon Minerals Corporation is a well-funded, gold-focused North
American exploration company with over 96,000 acres of prime exploration
ground in the prolific Red Lake gold camp of Ontario which hosts Goldcorp's
high-grade, world class Red Lake Mine. As well, it has recently acquired
512,960 acres of prospective exploration ground in Alaska in the area of the
5.6 million ounce Pogo deposit plus a 225,000 acre land package in northeast
Nevada.

    True widths on the Red Lake projects are estimated to be approximately
75-90% of reported lengths. All assays were conducted on sawn NQ2-sized half
core sections. Assays by ALS Chemex Labs and current program assays by
Accurassay Laboratories using the metallic screen fire assay procedure or fire
assay gravimetric finish. Standards and blanks were included at regular
intervals in each sample batch. Gold standards were prepared by CDN Resource
Laboratories Ltd. Work programs are supervised by Terry Bursey, P.Geo. the
project Qualified Persons under the definition of NI 43-101.
    On the Alaska projects, assay results cited herein were based on grab
samples collected by Avalon under the supervision of Curt Freeman, MS., PGeo,
Qualified Person as defined by NI 43-101. Assays were performed by ALS Chemex
in Vancouver using standard fire assay AA finish techniques.

    Forward-Looking Statements

    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
with respect to the Company's exploration programs, its expenditures on such
exploration programs and the anticipated results of such exploration programs.
    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 uncertainty with respect to findings under
exploration programs 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, should change.
    These statements are based on a number of assumptions, including, among
others, assumptions regarding general business and economic conditions, the
ability of management to successfully implement the planned exploration. 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, Vice President-Investor
Relations, Toll free: 1-866-365-4706 or by E-mail at:
bcavalluzzo@rubiconminerals.com


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