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| August 26, 2009 Tay-LP Property Optioned To Canarc | |
| Vancouver, BC: Ross River Minerals Inc. (TSX-V: RRM) (the "Company") is pleased to announce that it has optioned its wholly owned Tay-LP property to Canarc Resource Corp. ("Canarc"). Canarc can acquire a 100-per-cent interest in Tay-LP from the Company by paying $1-million in cash and/or stock and spending $1.5-million on exploration over a three-year period. Canarc can initially earn a 51-per-cent interest as a stage 1 option by paying $150,000 in cash and spending $900,000 on exploration over a two-year period. If Canarc proceeds with the stage II option, then the final $850,000 payment can be made in cash or common shares at Canarc's election. If Canarc does not proceed with the stage II option, then a 51/49 joint venture will be formed with the Company. The Tay-LP gold property is located within the Tintina gold belt, approximately 75 kilometres south of the town of Ross River in the Yukon. The property consists of 413 claims covering a 20-kilometre-long by four-kilometre-wide belt of gold prospects that were first discovered by prospecting in 1984 and enjoys good road access from both Ross River and Whitehorse via the South Canol Road and a four-wheel-drive access road to the old camp on Seagull Creek. Canarc plans to commence a phase I exploration program including 2,000 metres of diamond drilling as soon as reasonably possible subject to Canarc raising appropriate financing. Initial targets will include step-out drilling from some of the historical drill intercepts to better define the structural, stratigraphic and intrusive controls on gold mineralization. Future exploration programs will focus on detailed ground exploration work, detailed drilling of the known gold-mineralized zones, as well as reconnaissance drilling of multiple, untested geochemical and geophysical anomalies within prospective targets. This option agreement is subject to regulatory and exchange approval. ROSS RIVER MINERALS INC. Per: "Marcus N. Foster" Marcus N. Foster, President To find out more about Ross River Minerals (TSX-V: RRM) visit our website at www.rossriverminerals.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered in the United States Securities Act of 1933, as amended (the "US Securities Act") or any state securities laws and may not be offered or sold within the United States or to US Persons unless registered under the US Securities Act and applicable securities laws or an exemption from such registration is available. | |
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