Page 81 Page 80 Cont’d on pg. 82 By Gregory Reynolds Aimed with a positive Feasibility Study , Rainy River Resources Ltd. has moved its Rainy Gold Project from the advanced stage into the mine development stage. The 100% owned project is defning an emer ging Canadian Gold District, hosting NI 43-101 compliant gold reserves of four million ounces as of April 10, 2013. The company says “the location of the Rainy River Project is excellent. The property is centred in Richardson T ownship in ‘mining friendly’ North - western Ontario, approximat ely 162 km south of Kenora and 418 km west of Thunder Bay . The property has tremendous infra - structure, with year -round road access and power lines in close proximity , as well as a railway located 21 km to the south of the property . The pic - turesque T own of Fort France, 65 km to the northwest, has a population of approximately 10,000 people from which a workforce could be sourced for the potentia l future mine, thereby eliminating the need to establish a camp at site.” The Feasibility Study (FS) was for a mine and processing scenario based on the Oct. 10, 2012 National Instru - ment 43-101 mineral resource esti - mate, which includes assay data up to June 10, 2012. All currency amounts were expressed in Canadian dollars, unless otherwise noted. This FS was prepared and com - piled by BBA Inc. for Rainy River in cooperation with a number of special - ized consultants. Among the FS highlights are: Proven and Probable Mineral Re - serves of four million ounces of gold and 10.3 million ounces of silver; First- and second-quartile average cash costs of US$413 and US$468 per ounce gold (including royalties and net of silver credits) over the frst 5 and 10 years, respectively; Industry leading ‘all-in’ costs of US$771 per ounce gold, frst 10 years; A verage under ground grade of 5.07 g/t of gold, life-of-mine; A verage annual production of 326,000 gold ounces and 494,000 silver ounc - es, frst 10 years. Raymond Threlkeld, Rainy River ’ s president and CEO, stated April 10: “W ith the relea se of the project’ s Fea - sibility Study , we are transitioning to the mine devel opment stage of Cana - da’ s newest gold district. The Feasi - bility Study outlines an outstanding project, located in one of the best min - ing jurisdiction s in the world, conve - Rainy River Gold Pr oject in mine development stage