Rainy River Resources, Ltd. Intersects 28.9 Meters Grading 5.19 g/t Gold in 433 Zone ODM Zone Extended by 24hgold

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Rainy River Resources Ltd.
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May 17, 2007

Rainy Intersects 28.9 Meters Grading 5.19 g/t Gold in 433 Zone ODM Zone Extended 120 Meters West

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 17, 2007) - Nelson W. Baker, President of Rainy River Resources Ltd. (TSX VENTURE:RR), is pleased to provide an update on the Company's promising gold and base metal project centered in Richardson Township approximately 80 km south of Kenora in northwestern Ontario. Since the resumption of drilling on January 22, 2007, using three drill rigs, the Company has drilled a total of 28 holes totaling 11,546.4 meters. This release provides the final results for 10 holes. About 14 additional holes have been completed and core from most has been submitted to Accurassay Laboratories Ltd. in Thunder Bay, Ontario for assay.

This phase of drilling is principally designed to trace the 3 km long 17 Gold Trend along strike in two directions and to test a theory that an earlier 9 meter interval grading 81.52 g/t Au in hole NR06-119 represents the down plunge extension of the 433 Zone. The Company is pleased to report that hole NR07-157 collared approximately 350 meters north of the 17 Gold Trend and 150 meters south of previous 433 Zone drilling intersected an impressive interval of 28.9 meters grading 5.19 g/t Au approximately 150 m vertically below surface. The down plunge distance between this gold intersection and the interval in NR06-119 is approximately 600 meters.

433 ZONE (500 m north of 17 and ODM Zones)

In the Company's December 4, 2006 news release, it was reported that drill hole NR06-119, intersected a 9.0 meter interval (true width) grading 81.52 g/t Au (uncut) approximately 100 meters stratigraphically below the ODM Zone. Based on established plunge directions recorded from core drilled into the 17 Gold Trend, the Company's technical team interpreted the above high grade gold intersection as the possible down plunge extension of the 433 Zone gold mineralization originally discovered by Nuinsco 500 meters north of the 17 Zone. In order to test this theory, a fence of four north trending holes (NR07-154, 155, 157 and 158) spaced 60-metres apart was drilled to probe the down plunge projection of the 433 Zone gold mineralization at about the -150 m level. The results for the first three holes, NR07-154, NR07-155 and NR07-157, have been received with impressive gold values over wide intervals recorded in all three holes. Drill hole NR07-154, the most easterly to date, recorded an 18.4 meter true width interval grading 1.41 g/t Au and, 60 meters to the west, drill hole NR07-155 intersected a 15.0 meter true width interval grading 3.38 g/t Au. Drill hole NR07-157, with 28.9 m grading 5.19 g/t Au, is located 60 meters west of NR07-155. All four holes were drilled in a northerly direction and at a dip of -61 degrees. Assays are pending for the remaining hole, NR07-158, along this fence.

ODM ZONE (Step-out-drilling)

A 60-metre step out hole (NR07-152) and a 120-metre step out hole (NR07-153) west of NR07-138 (4.5 m grading 22.64 g/t Au) in the ODM Zone intersected a 43.5 meter true width grading 1.12 g/t Au and 31.5 m grading 0.95 g/t Au respectively at the -200 m level extending the zone for a strike length of over 210 metres. The ODM Zone remains open to the west and down plunge.

A west-northwest trending longitudinal section extending through the axis of the 17 and ODM Zones has now been posted on the Company's home page of the website at www.rainyriverresources.com. As illustrated in the longitudinal, the 17 Gold Trend remains open to the east and to the west and down plunge.

Of the five (5) remaining holes reported in this release, four (4) were drilled to test the upper levels of the 17 Zone (NR07-145 to NR07-148 inclusive), and one was drilled to test the East Zone between NR07-136 and 137 previously reported. The details of all intervals for all holes are highlighted in Table I below.

Nelson Baker commented, "This high grade gold intersection stratigraphically north of much of our focus over the past two years graphically demonstrates how much potential this project has to host more than one gold deposit."

The Quality Assurance and Quality Control (QA/QC) procedures and details followed by the Company can be viewed on its website at http://www.rainyriverresources.com/s/QualityControl.asp. Nelson W. Baker, P.Eng., is the Qualified Person for the Rainy River Project and the person responsible for the contents of this news release.

Nelson W. Baker, President

The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from targeted results. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The Company relies upon litigation protection for forward-looking statements.


Table 1. Selected Significant Results

---------------------------------------------------------
                 From        To    Interval    Gold Grade
Hole               (m)       (m)         (m)         (g/t)
---------------------------------------------------------

433 ZONE
---------------------------------------------------------
NR07-154       189.10    207.50       18.40          1.41
---------------------------------------------------------
Including      204.50    207.50        3.00          4.47
---------------------------------------------------------
NR07-155       168.50    188.00       19.50          2.86
---------------------------------------------------------
Including      173.00    188.00       15.00          3.38
---------------------------------------------------------
               180.50    188.00        7.50          3.82
---------------------------------------------------------
NR07-157        98.00    104.50        6.50          1.50
---------------------------------------------------------
               152.00    220.50       41.50          3.81
---------------------------------------------------------
Including      186.50    215.40       28.90          5.19
---------------------------------------------------------
               240.50    272.00       31.50          0.42
---------------------------------------------------------

17 ZONE-NEAR SURFACE
---------------------------------------------------------
NR07-145       150.00    231.00        81.0          0.76
---------------------------------------------------------
Including      153.00    159.00        6.00          1.53
---------------------------------------------------------
Including      221.50    228.00        6.50          1.88
---------------------------------------------------------
Second zone    357.00    361.50        4.50          1.85
---------------------------------------------------------
NR07-146       105.50    194.00       88.50          0.53
---------------------------------------------------------
Including       117.5    129.50       12.00          1.34
---------------------------------------------------------
Including      170.00    173.00        3.00          1.13
---------------------------------------------------------
Including      221.00    222.50        1.50          1.96
---------------------------------------------------------
NR07-147        71.00     87.50       16.50          1.00
---------------------------------------------------------
Including       77.00     80.00        3.00          2.12
---------------------------------------------------------
Second Zone     102.5    143.00       40.50          0.62
---------------------------------------------------------
NR07-148       246.50    251.00        4.50          4.61
---------------------------------------------------------
               272.00    279.50        7.50          1.51
---------------------------------------------------------
               287.00    291.50        4.50          2.84
---------------------------------------------------------
               309.50    317.60        8.10          1.42
---------------------------------------------------------
               593.00    599.00        6.00          0.81
---------------------------------------------------------

ODM ZONE - WEST EXTENSION
---------------------------------------------------------
NR07-152       319.50    363.00       44.50          1.12
---------------------------------------------------------
Including      324.00    331.50        7.50          3.93
---------------------------------------------------------
NR07-153       340.00    371.50       31.50          0.94
---------------------------------------------------------
Including      341.50    355.00       13.50          1.33
---------------------------------------------------------
Including      341.50    347.50        6.00          2.21
---------------------------------------------------------

EAST ZONE
---------------------------------------------------------
NR07-151       426.00    445.50       19.50          1.00
---------------------------------------------------------
               426.00    429.00        3.00          2.41
---------------------------------------------------------

All widths of intervals are considered to be true width.

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.
Brad Baker
(604) 731-6900 ext. 248
Email: bwb@rainyriverresources.com
Website: www.rainyriverresources.com

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