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Gold/Mining/Energy : Rubicon Minerals -- Ignore unavailable to you. Want to Upgrade?

To: Joey Two-Cents who wrote (88)	7/23/2002 10:03:49 PM
From: Miner	Read Replies (1) \| Respond to of 470

Hi Joey, Been out camping, maybe should go back and practice how I might live once the market wipes me out here. Rubicon had a nice little press release today, but good news means nothing in this market. TSX VENTURE EXCHANGE - SYMBOL: RMX OTCBB - SYMBOL: RUBIF JULY 23, 2002 RUBICON ANNOUNCES GOLDEN PROMISE PROJECT ACQUISITION - NEWFOUNDLAND Trenching discovers gold-bearing vein in area of 650 metre long boulder train David W. Adamson, President and CEO of Rubicon Minerals Corporation (RMX.TSX Venture) is pleased to announce the discovery of a gold bearing vein structure on its recently acquired, 443 square kilometre, Golden Promise project, located approximately 15 kilometres southeast of the town of Badger, Newfoundland. The Golden Promise project was acquired following the discovery by a local prospector of large gold-bearing boulders estimated to weigh up to 2.5 tonnes. Follow up work by Rubicon has established a 650 metre (~2100 feet) long by 15-20 metre (50-65 feet) wide area of boulders and rubble which, due to their quantity and angular nature, were interpreted to be very locally derived. Visible gold has been noted in at least 11 boulders over this strike length. Grab samples of six of the gold bearing boulders collected by Rubicon geologists assayed 2.6 oz/ton gold (88.5 g/t) , 0.73 oz/ton gold (24.9 g/t), 1.1 oz/ton gold, (37.2 g/t), 0.53 oz/ton gold (18.2 g/t) 1.4 oz/ton gold (46.9 g/t) and one boulder with spectacular visible gold that assayed 10.3 oz/ton gold (353.4 g/t). There is no record of any staking or previous exploration work in the area of this raw discovery. Additional boulders containing minor visible gold have also recently been discovered, 325 metres southeast and 300 metres northwest of the main gold bearing vein and are interpreted to be associated with a separate, parallel structure. Mechanical trenching in the area of the high grade boulders commenced recently. Bedrock has been reached in one trench and has exposed a banded quartz vein zone that is a minimum 1.6 metres to 2.5 metres true thickness. Visible gold has been noted in the vein zone that is now exposed intermittently over a 25 metre strike length. Sampling of the newly exposed trench is in progress. Attempts to reach bedrock in two other parts of the boulder-rich area have been hampered to date by locally thick overburden. Additional trenching is being carried out in other parts of the boulder trend. Rubicon has a 100% interest in approximately 835 claims comprising the Golden Promise property. An additional 692 claims have been acquired by option from a third party whereby Rubicon can acquire a 100% interest in 192 claims by making cumulative cash payments of $230,000 over four years ($15,000 in year one) and share payments of 100,000 (no shares in year one) over four years. Rubicon has also granted a 2% NSR royalty on the optioned claims, and has the right to buy a 1% NSR for $1,000,000 at any time. RUBICON MINERALS CORPORATION David W. Adamson ________________________________ President & CEO Note: All assays by Eastern Analytical Labs using the metallic fire assay technique. ______________________________________________________________________________________________________________________________ The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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 regards, john