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News Breaks
January 28, 2013
06:05 EDTRBYRubicon Minerals provides development update on Phoenix Gold Project
The Company continues to make good progress with the sinking of the shaft. As of today, the shaft bottom is at 610 metres below surface. Contractor crews are currently excavating the 610 m level station. During November and December of 2012, the Company encountered unfavorable ground conditions that impacted the rate of development. Ground conditions have improved significantly in January 2013. Shaft sinking continues and the Company expects better development rates going forward. The Company continues to evaluate the economics of the shaft extension and its use for further resource identification. The mill CIL building foundation has been completed, as well as the erection of the steel framework. The Company continues construction of the remaining mill building foundation. Subject to the Company's ongoing progress and evaluation of the construction and development of the Phoenix Gold Project, the delivery of long lead time items, such as the "SAG" and ball mills, remain on schedule, consistent with the Company's current proposed timeline. The Company continues to prepare and review studies on the optimization of the existing preliminary economic assessment released in August 2011. Based on achieving the current scheduled milestones, and subject to the Company's ongoing progress and evaluation of the construction and development of the Phoenix Gold Project, the timeline to potential production would be the second half of 2014.
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November 24, 2014
17:52 EDTRBYRubicon Minerals, Wabauskang First Nation reach settlement agreement
Rubicon Minerals is pleased to announce that is has entered into a Settlement Agreement and an Exploration Accommodation Agreement with Wabauskang First Nation. Under the Settlement, WFN has agreed to discontinue its appeal against Rubicon regarding the August 28 decision made by the Ontario Divisional Court to dismiss the application for judicial review in respect of Rubicon's production closure plan for its fully-permitted Phoenix Gold Project. In turn, an EAA has been signed and terms of a potential benefits agreement are outlined in the Settlement. The EAA governs the Company's exploration work on WFN lands, which includes the continuing exploration work being done at the Phoenix Gold Project. The key features of the EAA include the following: WFN will support Rubicon's exploration work, including support of the application for licenses and permits for such work; The company will provide certain benefits to WFN based on exploration expenditures incurred by Rubicon on its mineral claims within lands used by WFN; Rubicon will work in good faith to identify employment opportunities for WFN members in accordance with agreed principles; Rubicon will follow industry best environmental practices and will work with WFN to incorporate WFN's cultural values and traditional knowledge into its environmental programs; Rubicon will work with WFN to protect culturally sensitive sites as identified by WFN; and Rubicon and WFN will work together in good faith during the negotiation of a benefits agreement, which would include discussions on further benefits and contracting opportunities for WFN businesses, and further support for Rubicon projects.

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