Rubicon Minerals Corp reports on its test trial mining, bulk sample processing and exploration activities at the Phoenix gold project. The test trial mining and bulk sample processing program have been completed. Rubicon has processed more than 35,000 t of mineralized bulk sample material extracted from three test stopes and additional mineralized material from smaller pre-developed stopes in the F2 gold deposit. Throughout the bulk sample processing program, the company collected preliminary data for each test stope that will be critical to the block model reconciliation exercise.

Rubicon is currently undertaking a full mill cleanout to recover mineralized material trapped within the mill circuit, including material found behind the mill liners. The data collected from the mill cleanout will be used towards the block model reconciliation exercise. The company remains on track to release the results of the block model reconciliation exercise in the fourth quarter of 2018.

• Three test stopes were blasted, mucked, stockpiled separately and batched sequentially through the mill
• Test stopes were selected in the upper areas of the deposit where there was substantial development in place to take advantage of sunk capital and to allow for the mining and processing to be completed by the end of 2018
• Definition drilling of the test stopes were on 4 to 5 m centres using a bazooka air drill
• More than 8,000 assay results from bazooka air drilling, chip and muck samples, were taken at various points throughout the test mining cycle
• Cavity Monitoring Surveys (CMS) were conducted for each test stope cavity to accurately measure mining dilution
• Mineralized material recovered from the full mill cleanout will be allocated to each of the three test stopes
• Golder Associates has been selected to conduct the block model reconciliation and will produce a final reconciliation report.

Rubicon has been recovering gold from the bulk sample processing program, which it has been selling to partially offset mining, milling, and exploration costs. The majority of the bulk sample gold sales proceeds will be recognized in the fourth quarter of 2018.  Since all test mining and the majority of mill processing activities at the project have been completed, the company intends to scale back underground mining activities and place the mill in care and maintenance, as planned, which includes a scheduled workforce reduction. As a result, site costs are expected to be lower in the fourth quarter of 2018 since these activities have ceased. Underground exploration work, including underground drilling activities, will continue as planned.

As of September 1, 2018, Rubicon has completed more than 19,000 m of infill and step-out drilling of a planned 24,000 m, with assay results pending. Rubicon is currently drilling from the 685-m level. It has also excavated the first of two new diamond drill cut-outs at the exploration drift on the 610-m level, and diamond drilling continues from the first drill cut-out. Development crews are planning to complete the excavation of the second diamond drill cut-out at the end of the exploration drift this month. The purpose of the exploration drilling at depth is to potentially improve the classification and grow the mineral resources at the Project.

Rubicon President and Chief Executive Officer George Ogilvie commented, “We are pleased with the execution of the test trial mining and bulk sample processing activities at the Phoenix gold project. The mill cleanout activities are underway and anticipate their completion by the end of this month. We have engaged Golder to assist us with the reconciliation exercise and are on track to release the results of the block model reconciliation, on schedule, in the fourth quarter.”

“Exploration drilling continues at the Phoenix project. We expect to complete an additional 24,000 m of orientated in-fill drilling by year-end, which could be utilized in a future updated NI 43-101 Technical Report. We plan to update the market on the results of our reconciliation exercise and exploration activities in due course.”

Rubicon Minerals is an advanced gold exploration company that owns the Phoenix gold project, located in the prolific Red Lake gold district in northwest Ontario, Canada. Additionally, Rubicon controls over 285 km2 of prime exploration ground in Red Lake and more than 900 km2 of mineral property interests in the emerging Long Canyon gold district that straddles the Nevada-Utah border in the US.