New Gold Acquires Rainy River Resources

New Gold officials confirmed the acquisition of 89.2 million common shares of Canada’s Rainy River Resources Ltd.; this constitutes 86.2% of Rainy River’s outstanding shares. New Gold Executive Chairman Randall Oliphant said access to the Rainy River gold project in Canada provides for “another exciting gold growth project in Canada. We look forward to continuing our work with Rainy River to integrate the project into our pipeline.” An advanced gold exploration project located in Northwestern Ontario, Rainy River hosts a NI43-101 compliant gold resource of 1.2 million oz measured, 5 million oz indicated and 2.3 million oz inferred.