Rainy River Resources, Ltd. Announces High-Grade Gold Results and Continued Exploration Success by 24hgold

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Rainy River Resources Ltd.
TSX VENTURE:	RR

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March 24, 2010

Rainy River Announces High-Grade Gold Results and Continued Exploration Success

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 24, 2010) - Rainy River Resources Ltd. (TSX VENTURE:RR) -

Highlights:

-  433 Zone continues to return high-grade gold - 221.73 g/t gold over 1.5
   metres, 62.26 g/t gold over 1.5 metres, 44.85 g/t gold over 1.5 metres 
-  New gold zone discovered 200 metres west of 433 Zone - 32.60 g/t gold
   over 1.0 metre 
-  Beaver Pond yields 22.15 g/t gold over 1.5 metres, 1.39 g/t gold over
   16.5 metres 
-  Exploratory drilling yields 12.32 g/t gold over 2.0 metres, 1,000 metres
   west of Beaver Pond Zone 
-  New gold mineralization discovered 250 metres above CAP/South Zones -
   4.43 g/t gold over 3.0 metres

Rainy River Resources Ltd. (the "Company" or "Rainy") is pleased to announce further exploration results from the Rainy River gold project in Northwestern Ontario.

433 Zone Continues to Yield High-Grade Gold - 221.73 g/t (6.47 oz/t) Gold over 1.5 metres

Assay results for a total of five drill holes have been received from the Company's 2010 infill drilling program on the 433 Zone. Most notably, NR10-463 intersected a very impressive 221.73 g/t (6.47 oz/t) gold over 1.5 metres on the western edge of the 433 Zone within a wider, well mineralized intercept of 26.21 g/t gold over 13.5 metres. This new intersection has increased the known strike length of the 433 Zone at the -200 metre level to 145 metres. Approximately 60 metres down dip of NR10-463, a wide interval grading 0.61 g/t gold over 13.5 metres including 4.62 g/t gold over 3.0 metres was intersected in hole NR10-470.

On the eastern edge of the 433 Zone, NR09-449 intersected 8.26 g/t over 21.0 metres including three (3) gold intervals grading 20.99 g/t, (0.61 oz/t), 62.26 g/t (1.82 oz/t) and 44.85 g/t (1.31 oz/t) gold each over 1.5 metres. Length-weighted composites are outlined in Table 1.

High-Grade Gold Mineralization Discovered 200 metres West of 433 Zone

Drill holes NR09-443 and NR09-447 have both intersected new gold mineralization in a previously untested area 200 metres west of the 433 Zone at approx.120 metres below surface. NR09-443 intersected 32.60 g/t (0.95 oz/t) gold over 1.0 metres and is located 40 metres west of NR09-447 which intersected 5.77 g/t gold over 1.5 metres. These new occurrences remain open 130 metres up plunge to surface and are open down plunge to holes NR09-450 and NR10-460 which intersected 2.08 g/t gold over 1.5 metres and 2.23 g/t gold over 3.0 metres respectively. Further drilling in this area is being planned to ascertain the significance of the new intersections.

Beaver Pond Drilling Program Demonstrates Continuity of High-Grade Gold

Assay results for a total of seven initial drill holes have been received for the 2010 Beaver Pond winter drilling campaign. The focus of the 2010 program is to further define the new and underexplored high-grade gold intersection discovered in hole NR09-446 which graded 352.84 g/t (10.29 oz/t) gold over 6.0 metres (previously disclosed in the Company's news release dated January 18, 2010). NR10-462 was successful in demonstrating the short range drill hole to drill hole continuity of this new high grade gold zone having intersected 22.15 g/t (0.64 oz/t) gold over 1.5 metres at 233 metres below surface and approximately 15 metres along strike to the east of NR09-446. This intersection has extended the known strike length of the high-grade zone at the -240 metre level to 30 meters and the high grade mineralization remains open along strike and plunge. Additional drilling has been completed at the Beaver Pond Area and assay results are pending.

Step-Out Exploration Drilling Yields High-Grade Gold 1,000 metres West of Beaver Pond Zone

The ongoing exploration drilling west of the known gold resources has been successful in discovering a new gold occurrence in hole NR10-456 grading 12.32 g/t gold over 2.0 metres at a vertical depth of 231 metres below surface. This new occurrence is hosted in the same intensely altered, sheared dacitic volcanic rocks that are characteristic of the Beaver Pond and ODM Zones. Hole NR10-455, which is located 100 metres east of NR10-456 intersected sporadic gold mineralization as outlined in Table 1. Follow-up drilling of this area will be a top priority for the 2010 exploration program.

New Gold Occurrence Discovered at Surface above CAP/South Zones Trend

A new occurrence of gold mineralization has been discovered 250 metres stratigraphically above the CAP/South trend with an intersection in hole NR10-444 grading 4.43 g/t gold over 3.0 metres. The gold intersection occurs at the bedrock-overburden contact only 25 metres below surface and as such, its full thickness may not have been completely tested. To date, this is one the southernmost gold intersections - this new information potentially increases the true north-south thickness of the known mineralized stratigraphic package to 1,000 metres and substantially expands the exploration potential for this underexplored portion of the project area.

Additionally, NR10-444 intersected 2.40 g/t gold over 9.0 metres in the South Zone at a vertical depth of 369 metres below surface and 0.81 g/t gold over 24.0 metres in the ODM "Deeps". Follow-up drilling of this new surface gold occurrence is currently being planned.

Titan Anomaly

Hole NR10-458 was drilled further south than the other holes and targeted a deep Titan geophysical anomaly suggestive of volcanogenic massive sulphide (VMS) mineralization in the upper dacites. No major sulphide concentrations were encountered but strong kyanite alteration (acid leaching), similar to that associated with the La Ronde VMS deposit in the Bousquet district, Quebec, was intersected in the overlying rhyolites. Also, at greater depth, the hole returned 15.0 metres grading 0.67 g/t gold from the Cap Zone.

Comments

"We are tremendously encouraged by the fact that with every drill hole that we put in the ground and the closer we space those holes, we are continuing to define more high-grade gold," commented Raymond Threlkeld, President and CEO. "In addition to the good high-grade continuity in the 433 Zone, the discoveries of new high grades 1000 metres to the west and a new zone on the south expands our mineralized stratigraphic column to over 1000 meters thick and over 1000 metres west beyond our current resources, illustrating the potential of Rainy River as a major gold district. We continue to achieve good results from the high grade Beaver Pond Zone and still have untested gold geochemical targets that can further the potential of the Rainy River project as a whole. We have drilled over 21,000 metres since mid January and will continue with a very aggressive pace to expand our resources and provide a preliminary economic assessment on open pit and underground mining options by the end of the third quarter."

About Rainy River Resources Ltd.

Rainy River Resources is a Canadian precious metals exploration company whose key asset is the Rainy River gold project. With over CAN$65 MM million in its treasury, the Company is well funded to conduct a dual-focused drilling program consisting of: 1) definition Diamond drilling of the main gold resources in preparation for scoping and pre-feasibility studies, and 2) selective Diamond drill testing of high-priority gold targets defined primarily by RC drilling within the large gold system centered in Richardson Township. The Company's property is extremely well located in the southwestern corner of northern Ontario near the U.S. border. It is accessed by a network of roads and is close to hydro-electric infrastructure. The Rainy River district has a skilled labour force and is one of the lowest-cost areas for mineral exploration and development. Ontario has low political risk and, according to the annual Fraser Institute global survey of the mining industry, has consistently ranked as one of the top jurisdictions embracing mineral development.

To view the maps accompanying this press release please visit the following link: http://media3.marketwire.com/docs/RR0324.pdf

RAINY RIVER RESOURCES LTD.

Raymond W. Threlkeld, President & CEO

This release includes certain statements that may be deemed to be "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. 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 forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include gold prices, results of exploration and development activities, regulatory changes, defects in title, availability of materials and equipment, timeliness of government approvals, continued availability of capital and financing and general economic, market or business conditions. The Company cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the Company's forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. The Company believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. Please see the public filings of the Company at www.sedar.com for further information.

Table 1 - Summary of Significant Intercepts

---------------------------------------------------------------------------
                    DEPTH                                                  
                    BELOW                                                  
                  SURFACE   FROM     TO LENGTH     Au                      
HOLE-ID   SECTION      (m)    (m)    (m)    (m)  (g/t) ZONE        COMMENTS
---------------------------------------------------------------------------
                                                       433 WEST            
                                                       STRIKE              
NR09443    425551     113  136.5  137.5    1.0  32.60  EXTENSION   NEW     
---------------------------------------------------------------------------
NR09444    425097      29   28.5   31.5    3.0   4.43  HW CAP      NEW     
    INCL   425113     369  385.5  394.5    9.0   2.40  SOUTH       ADD     
           425159     666  711.0  735.0   24.0   0.81  ODM DEEPS   CONFIRM 
---------------------------------------------------------------------------
NR09447    425574      72   86.0   90.5    4.5   0.83  HS          NEW     
           425574      85  101.0  105.5    4.5   0.79  HS          NEW     
                                                       433 WEST            
                                                       STRIKE              
           425574     122  149.0  150.5    1.5   5.77  EXTENSION   NEW     
                                                       433 WEST            
                                                       STRIKE              
           425574     138  165.4  171.5    6.1   0.70  EXTENSION   NEW     
                                                       433 FW WEST         
           425574     223  272.0  276.5    4.5   1.75  EXTENSION   NEW     
                                                       433 FW WEST         
           425574     235  287.0  293.0    6.0   0.73  EXTENSION   NEW     
---------------------------------------------------------------------------
NR09448    425001      83   95.0   96.5    1.5   2.24  HW BP       NEW     
           425010     176  192.5  227.0   34.5   0.55  BP          ADD     
---------------------------------------------------------------------------
NR09449    425846      68   81.5   84.5    3.0   3.57  HS          CONFIRM 
           425840     131  161.0  162.5    1.5  20.99  HW 433      NEW     
           425838     158  195.5  197.0    1.5   8.08  433 ZONE    ADD     
           425837     173  209.0  230.0   21.0   8.26  433         CONFIRM 
     INCL  425837     169  209.0  212.0    3.0  33.00  433         CONFIRM 
     INCL  425837     170  210.5  212.0    1.5  62.26  433         CONFIRM 
      AND  425837     178  221.0  224.0    3.0  23.09  433         CONFIRM 
     INCL  425837     179  222.5  224.0    1.5  44.85  433         CONFIRM 
---------------------------------------------------------------------------
                                                       433 WEST            
                                                       STRIKE              
NR09450    425502     177  215.0  216.5    1.5   2.08  EXTENSION   NEW     
---------------------------------------------------------------------------
NR10451    425876      95  111.5  122.0   10.5   1.05  HS          CONFIRM 
     INCL  425876      93  113.0  114.5    1.5   5.26  HS          CONFIRM 
           425876     114  138.5  143.0    4.5   1.00  HW 433      CONFIRM 
           425879     242  302.0  305.0    3.0   0.95  FW 433      CONFIRM 
---------------------------------------------------------------------------
                                                       WESTERN
NR10455    424180     138  169.5  171.0    1.5   1.65  AREA        NEW     
                                                       WESTERN             
           424183     166  204.0  205.5    1.5   1.75  AREA        NEW     
---------------------------------------------------------------------------
                                                       WESTERN             
NR10456    424082      90  110.5  112.0    1.5   1.06  AREA        NEW     
                                                       WESTERN             
           424103     231  298.0  300.0    2.0  12.32  AREA        NEW     
---------------------------------------------------------------------------
NR10457    424907     218  249.5  260.0   10.5   1.01  BP          CONFIRM 
NR10457    424935     390  468.5  470.0    1.5   1.63  HS          NEW     
---------------------------------------------------------------------------
NR10458    425298     449  633.0  648.0   15.0   0.67  CAP         CONFIRM 
---------------------------------------------------------------------------
NR10459    424929     181  212.0  218.0    6.0   0.70  BP          CONFIRM 
           424934     291  348.5  350.0    1.5   1.25  HS          NEW     
           424937     328  395.0  396.5    1.5   1.02  HS          NEW     
           424942     383  464.0  465.5    1.5  17.81  HS          NEW     
---------------------------------------------------------------------------
NR10460    425497      91  111.5  113.0    1.5   1.17  HS          ADD     
           425494     168  209.0  210.5    1.5   1.56  HS          ADD     
                                                       433 WEST            
                                                       STRIKE              
           425493     195  242.0  245.0    3.0   2.23  EXTENSION   NEW     
           425492     201  251.0  252.5    1.5   1.03              NEW     
---------------------------------------------------------------------------
NR10462    424904     233  267.5  269.0    1.5  22.15  BP          CONFIRM 
           424905     253  284.0  300.5   16.5   1.39  BP          CONFIRM 
     INCL  424905     259  297.5  300.5    3.0   4.44  BP          CONFIRM 
           424907     278  318.5  324.5    6.0   1.18  BP          CONFIRM 
           424913     340  396.5  398.0    1.5   2.18  HS          NEW     
           424917     374  438.5  440.0    1.5   1.11  HS          NEW     
           424919     392  460.0  461.0    1.0   5.89  HS          ADD     
---------------------------------------------------------------------------
NR10463    425702     195  221.0  222.5    1.5   1.21  433         CONFIRM 
           425703     207  231.5  245.0   13.5  26.21  433         CONFIRM 
     INCL  425703     207  236.0  237.5    1.5 221.73  433         CONFIRM 
      AND  425703     214  243.5  245.0    1.5   6.31  433         CONFIRM 
           425706     253  284.0  296.0   12.0   0.83  433         CONFIRM 
---------------------------------------------------------------------------
NR10466    424965     153  168.5  170.0    1.5   1.22  BP          ADD     
           424966     179  198.5  200.0    1.5   1.09  BP          ADD     
           424967     193  209.0  221.0   12.0   1.08  BP          ADD     
           424969     240  267.5  269.0    1.5   1.00  HS          NEW     
           424972     291  326.0  327.5    1.5   5.46  HS          NEW     
           424973     303  339.5  341.0    1.5   1.01  HS          NEW     
           424981     422  479.0  480.5    1.5   8.56  HS          NEW     
---------------------------------------------------------------------------
NR10467    424865     232  277.5  280.5    3.0   3.61  HW BP       NEW     
           424886     347  418.5  429.0   10.5   0.76  BP          ADD     
---------------------------------------------------------------------------
NR10468    425732     112  117.5  143.0   25.5   0.46  HS          CONFIRM 
           425732     189  210.3  242.0   31.7   0.58  433         CONFIRM 
           425732     268  321.5  323.0    1.5   1.76  433 FW      NEW     
           425733     299  360.5  362.0    1.5   4.68  FW 433      NEW     
---------------------------------------------------------------------------
NR10470    425700     157  179.0  180.5    1.5   3.29  HS          CONFIRM 
           425703     246  279.5  293.0   13.5   0.61  433         CONFIRM 
           425704     275  321.5  324.5    3.0   4.62  433         ADD     
---------------------------------------------------------------------------
NR10471    424948     192  224.0  225.5    1.5   6.44  HW BP       NEW     
---------------------------------------------------------------------------

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

CONTACT INFORMATION:

Rainy River Resources Ltd.
Liz Caridi
Director of Investor Relations and Corporate Governance
(604) 639-4497
lcaridi@rainyriverresources.com
www.rainyriverresources.com

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