TSX:RMX | NYSE.MKT:RBY
TORONTO, Dec. 6, 2012 /PRNewswire/ - Rubicon Minerals
Corporation (TSX:RMX | NYSE-MKT:RBY) ("Rubicon")
is pleased to announce that, further to its news release dated
April 30, 2012, Mike Lalonde will assume the position of
President and CEO, effective January 1,
2013. Concurrently, David
Adamson will resign his position as CEO and assume the
position of non-executive Chairman of Rubicon.
Optimization studies at Rubicon's 100% owned F2
Gold System are ongoing and are expected to continue through Q1,
2013.
"I am excited to take up the new challenge as
CEO and to have the opportunity to take the Phoenix Gold Project to
the next level. I believe it is important that we thoroughly
analyse the various components of our optimization plan in order to
secure the best outcome possible," said Mike Lalonde.
Shaft sinking and mill construction activities
at site, designed to maintain its current critical path, are
continuing.
About Rubicon Minerals
Corporation
Rubicon Minerals Corporation is an exploration
and development company, focused on exploring and developing high
margin gold deposits in politically safe jurisdictions such as its
high-grade gold discovery at its Phoenix Gold Project in
Red Lake, Ontario. Rubicon is well
funded and its flagship Phoenix Gold Project is fully permitted to
potential production. In addition, Rubicon controls over 100
square miles of prime exploration ground in the prolific
Red Lake gold district which hosts
Goldcorp's high-grade, world class Red Lake Mine. Rubicon's shares
are listed on the NYSE.MKT (RBY) and the TSX (RMX) Exchanges.
Rubicon's shares are included in the S&P/TSX Composite Index
and Van Eck's Junior Gold Miners
ETF.
RUBICON MINERALS CORPORATION
"David W. Adamson"
CEO
*The PEA is preliminary in nature as it
includes inferred mineral resources that are considered too
speculative geologically to have the economic considerations
applied to them that would enable them to be categorized as mineral
reserves and there is no certainty that the PEA will be realized.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability. The estimate of mineral resources
may be materially affected by environmental, permitting, legal,
title, taxation, socio-political, marketing, or other relevant
issues. The quantity and grade of reported inferred resources
referred to in the PEA are uncertain in nature and there has been
insufficient exploration to define these inferred resources as an
indicated or measured mineral resource and it is uncertain if
further exploration will result in upgrading them to an indicated
or measured mineral resource category. The PEA is a technical
report under NI 43-101, was prepared by AMC Mining Consultants with
metallurgical and processing contributions from Soutex, and has an
effective date of August 8,
2011.
Forward Looking Statements
This news release contains statements that constitute
"forward-looking statements" within the meaning of Section 21E of
the United States Securities
Exchange Act of 1934 and "forward looking information" within the
meaning of applicable Canadian provincial securities legislation
(collectively, "forward-looking statements"). Forward-looking
statements often, but not always, are identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect", "targeting", "look forward" and "intend" and statements
that an event or result "may", "will", "would", "should", "could",
or "might" occur or be achieved and other similar
expressions.
Forward-looking statements are based on the
opinions and estimates of management as of the date such statements
are made and represent management's best judgment based on facts
and assumptions that management considers reasonable. The
material assumptions upon which such forward-looking statements are
based include, among others; that the aspects of the transition
will progress on a satisfactory basis; that the demand for gold and
base metal deposits will develop as anticipated; that the price of
gold will remain at levels that will render the Phoenix Gold
Project economic; that operating and capital plans will not be
disrupted by issues such as mechanical failure, unavailability of
parts and supplies, labour disturbances, interruption in
transportation or utilities, or adverse weather conditions; that
Rubicon will meet its estimated timeline for the development of the
Phoenix Gold Project; that Rubicon will continue to have the
ability to attract and retain skilled staff; that the mineral
resource estimate as disclosed in the PEA will be realized; and
that there are no material unanticipated variations in the cost of
energy or supplies, or in the pre-production capital and operating
cost estimate as disclosed in the PEA. Rubicon makes no
representation that reasonable business people in possession of the
same information would reach the same conclusions.
Forward-looking statements in this news
release include, but are not limited to statements regarding the
assumption of the role of President and CEO position by
Michael Lalonde on January 1, 2013, the assumption of the role of
Chairman of the Board by David
Adamson on January 1, 2013 and
the continuation of the optimization studies through Q1,
2013.
Forward-looking statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of Rubicon to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Such factors include, among others: future prices
of gold and other metals; possible variations in mineralization,
grade or recovery rates; actual results of current exploration
activities; actual results of reclamation activities; conclusions
of future economic evaluations; changes in project parameters as
plans continue to be refined; failure of equipment or processes to
operate as anticipated; accidents, labour disputes and other risks
of the mining industry; delays and other risks related to joint
venture operations; timing and receipt of regulatory approvals of
operations; the ability of Rubicon and other relevant parties to
satisfy regulatory requirements; the availability of financing for
proposed transactions and programs on reasonable terms; the ability
of third-party service providers to deliver services on reasonable
terms and in a timely manner; and delays in the completion of
development or construction activities. Other factors that could
cause the actual results to differ include market prices, results
of exploration, availability of capital and financing on acceptable
terms, inability to obtain required regulatory approvals,
unanticipated difficulties or costs in any rehabilitation which may
be necessary, market conditions and general business, economic,
competitive, political and social conditions.
It is important to note that the information
provided in this news release is preliminary in nature. There is no
certainty that a potential mine will be realized. A mine production
decision based on a preliminary economic assessment as opposed to a
bankable feasibility study carries additional potential risks which
include, but are not limited to, the inclusion of inferred mineral
resources that are considered too speculative geologically to have
the economic considerations applied to them that would enable them
to be categorized as mineral reserves. Mine design and mining
schedules, metallurgical flow sheets and process plant designs may
require additional detailed work to ensure satisfactory operational
conditions.
Forward-looking statements contained herein
are made as of the date of this news release and Rubicon disclaims
any obligation to update any forward-looking statements, whether as
a result of new information, future events or results or otherwise,
except as required by applicable securities laws. There can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements.
_______________________________________________________________________________________________________
The Toronto Stock Exchange has not reviewed and
does not accept responsibility for the adequacy or accuracy of this
release
SOURCE Rubicon Minerals Corporation