Rainy River and Western Warrior enter into option agreement covering a 9,276 hectare claim block in Off Lake area adjacent to new gold-bearing base metal discovery

    VANCOUVER and CALGARY, Dec. 17 /CNW/ - Rainy River Resources Ltd.
(RR.TSX-V) ("Rainy River") and Western Warrior Resources Inc. (WWR.TSX-V)
("Western Warrior") are pleased to announce that they have entered into an
option agreement (the "Option Agreement") covering 41 contiguous claim units
aggregating 9,276 hectares of the extreme southern portion of Western
Warrior's 67,000 hectare Pipestone Project. The optioned property adjoins
Rainy River's promising Off Lake area where prospecting, mechanical stripping
and channel sampling this fall uncovered values as high as 15.25 g/t Au, 7.66%
Zn and 2.75% Cu in several new Au + VMS-signature showings in outcrop along
the east shore of Off Lake associated with the contact between metagabbro and
a massive felsic dyke complex recently mapped by Dr. Lorne Ayres. These new
showings are situated 500 metres west of the common Rainy River/Western
Warrior property line.
    Under the terms of the Option Agreement, Rainy River will have the right
to acquire a 60% interest in the optioned claims if it incurs exploration
expenditures on the optioned claims totalling $3,000,000, makes cash payments
to Western Warrior totalling $225,000 and issues 60,000 common shares of Rainy
River to Western Warrior over a three year term ended December 31, 2010. The
exploration expenditures to be incurred by Rainy River during the three years
ended December 31, 2010 are $500,000, $1,200,000 and $1,300,000, respectively.
If Rainy River exercises its option, the parties will bear the cost of further
exploration and development of the optioned claims on a joint venture basis.
    Rainy River now has variable interests in a total of 24,305 hectares
stretching over a 30 kilometre segment of the Rainy River Greenstone Belt,
making the company the largest land holder in this belt. In both the Off Lake
and Richardson Township sections of the property, widespread Au + VMS
mineralization is hosted by Archean-aged volcanic, subvolcanic and sedimentary
    "We are very pleased to add the right to acquire a 60% interest in
Western Warrior's strategic land position to our Rainy River Project in the
Off Lake area. Dr. Lorne Ayres, one of Canada's most experienced
volcanologists, and our seasoned prospectors have uncovered a very unique and
exciting new exploration target for us. We continue to be encouraged by the
remarkable geological and mineralogical similarities between the Off Lake area
and Richardson Township areas", commented Nelson Baker, President of Rainy
    "The opportunity to partner with Rainy River on this highly prospective
property is a very positive milestone for Western Warrior. The land under
option only represents 20% of Western Warrior's Pipestone Project, the balance
of which we are exploring independently." commented Grant Hall, President of
Western Warrior

    About Rainy River: Rainy River is an exploration company focused on
exploring and developing it's gold and base metal properties situated along
the Rainy River greenstone belt located approximately 80 kilometres south of
Kenora, in northwestern Ontario. The property optioned from Western Warrior
covers a highly prospective and under-explored part of the Rainy River
greenstone belt and is open to year round exploration. The property has
excellent infrastructure with ready access to railroads, highways and
electrical power. To date over $13 million has been spent by the company in
the Rainy River greenstone belt area. Currently there are four rigs in
Richardson Township area actively exploring and delineating several promising
gold volcanogenic sulphide zones. Rainy River is projecting to spend
$10 million by the end of 2008 and currently has more than $38 million dollars
in the bank.

    Nelson W. Baker

    About Western Warrior: Western Warrior is a Calgary-based,
multi-commodity, mineral exploration company with 100% ownership of properties
in Northwestern Ontario, Northern Manitoba, and Valdez, Alaska, encompassing a
total area of more than 402,700 hectares (4,027 km(2)). Western Warrior's
website address is www.westernwarrior.ca

    To be added to Western Warrior's private email list, please contact

    Reader Advisory

    This joint press release includes certain statements that may be deemed
to be "forward-looking statements". All statements in this joint press
release, other than statements of historical facts, that address events or
developments that management of Rainy River expects, are forward-looking
statements. Although management of Rainy River 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 or developments may differ materially from those in the
forward-looking statements. Rainy River undertakes no obligation to update
these forward-looking statements if management's beliefs, estimates or
opinions, or other factors, should change. Factors that could cause actual
results to differ materially from those in forward-looking statements, include
market prices, exploration and development successes, continued availability
of capital and financing, and general economic, market or business conditions.
Please see the public filings of Rainy River at www.sedar.com for further

    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

For further information:

For further information: Brad Baker, Rainy River Resources, at (604)
731-6900 ext. 248, or by e-mail bwb@rainyriverresources.com; Western Warrior
Resources Inc., Grant Hall, President, Phone: (403) 543-2595, Fax: (403)
543-2599, Email: Grant@westernwarrior.ca

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