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Gold/Mining/Energy : PXI - PLANET EXPLORATION
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To: Rocket Red who started this subject8/13/2003 2:46:07 AM
From: Pete   of 31
 
This is the significant part of the latest Rubicon news release-

"in the area of the new gold discovery by Planet Exploration Inc. and Goldcorp in the recently recognized northern extension of the prolific Red Lake gold belt."

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RMX Shares issued 40,868,175

Aug 11 close $1.03 Tue 12 Aug 2003
News Release Mr. David Adamson reports RUBICON MINERALS PROVIDES EXPLORATION UPDATE

Rubicon Minerals updates investors concerning the company's exploration activities. Rubicon continues to be one of the most active junior companies and is conducting exploration in the prolific Red Lake gold camp in Ontario and in several areas in Newfoundland. Highlights include: continuing diamond drilling at two projects in Red Lake, including the flagship McFinley gold project; Rubicon strategically positioned in the area of the new Planet Exploration Inc. gold discovery in Red Lake; Rubicon-owned agreements provide additional exposure in Planet new gold discovery area;

Strategic position in area of new Planet gold discovery Rubicon has a major land position in the area of the new gold discovery by Planet Exploration Inc. and Goldcorp in the recently recognized northern extension of the prolific Red Lake gold belt. Rubicon has two large claims blocks to the west and east, respectively, of the Planet discovery zone which are believed to have potential for both down dip and surface expressions of this extensive mineral system. In addition to its strategic land position adjacent to the new discovery, Rubicon controls as part of the RLJV joint venture with AngloGold an additional 10 km of strike length along the schist horizon which is interpreted by Rubicon to correlate with the schist that hosts the Planet discovery. Rubicon believes that the Planet occurrence attests to a potential large mineralizing system with affinities to other similar deposit types in the Archean, including the giant Hemlo deposit in Northwest Ontario.
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