Rubicon Minerals acquires interest in McCuaig property in Red Lake
Friday, Dec 01, 2017
Rubicon Minerals Corporation has entered into an agreement to acquire Golden Tag Resources Limited's 40% interest in the McCuaig Property in Red Lake, Ontario, Canada for 550,000 common shares of Rubicon. The Company currently has a 60% interest in McCuaig and, upon closing of the transaction, will have a 100% interest. In connection with the transaction, the joint venture agreement between the parties will be terminated.


McCuaig is located on the prolific Mine Trend in Red Lake, approximately six kilometres southwest of the Company's Phoenix Gold Project. See Diagram 1 at the end of the news release for a map of Rubicon's Red Lake Properties, including the location of McCuaig. McCuaig is comprised of three unpatented mineral claims and cover approximately 126 hectares. Since 1997, Rubicon has carried out geochemical surveying and modelling, geological mapping, geophysical surveying and drilled 71 holes totalling over 22,000 metres ("m") on McCuaig. McCuaig has not been drilled since 2007.

Historical highlight drill assays include (not true widths):

MC-07-01AW: 15.65 grams per tonne gold ("g/t Au") over 1.55 m
MC-02-32: 22.83 g/t Au over 3.10 m (including 75.91 g/t Au over 0.70 m)
MC-02-27: 25.48 g/t Au over 1.07 m and 18.08 g/t Au over 0.45 m

The Company is currently evaluating the exploration opportunities on its Red Lake Properties, including McCuaig. Rubicon does not anticipate commencing regional grassroots exploration activities until the positive advancement of the Phoenix Gold Project and adequate funding for the exploration activities is secured.

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