Rubicon Minerals Corporation: More High-Grade Gold at H-Pond in Newfou

    News Editors

    VANCOUVER, British Columbia--(BUSINESS WIRE)--April 13, 2005--Rubicon Minerals Corporation (TSX:RMX)(AMEX:RBY) -

    - Visible gold-bearing vein zones defined over a 450m strike length - new zone defined at Pocket Ponds-

    David W. Adamson, President and CEO of Rubicon Minerals Corporation is pleased to provide a drilling update on its 100% controlled H-Pond and Pocket Ponds gold exploration prospects, located 15 kilometers west of the town of Gander, on the island of Newfoundland, Canada. Previous drilling at the H-Pond prospect is characterized by multiple quartz vein zones carrying gold over thicknesses from 1 to 24 metres (see news release dated October 5, 2004). Significant intercepts from previous drilling include 16.23 g/t gold over 2.40 metres (HP-04-03) and 12.64 g/t gold over 1.25 metres (HP-04-04). High grade gold zones occur within extensively altered and veined sections e.g., 44.45 metres of 0.75 g/t gold, which indicates the presence of a large gold bearing system. Previous drilling at Pocket Ponds (hole HP-04-07) intersected mineralized quartz veins averaging 6.63 g/t Au over 1.7 metres, including 25.25 g/t over 0.4 metres.

    H-Pond & Pocket Ponds Prospects

    A recently completed 20-hole, 3,552 metre drilling program by Rubicon has intersected additional high-grade gold up to 11.85 g/t gold over 0.80 metres (including 22.18 g/t gold over 0.40m, HP-05-09), 10.43 g/t gold over 1.85m (including 26.53 g/t gold over 0.70m, HP-05-11) and 10.14 g/t gold over 1.15 metres (including 14.48 g/t over 0.50m, HP-05-15). The zone has been extended an additional 350 metres along strike by wide spaced drilling (50-100m step-outs), increasing its strike extent to 450 metres and to a vertical depth of 250 metres. Twelve of the twenty holes that have tested the H-Pond prospect contained visible gold.

    At Pocket Ponds, located 3 kilometres south of the H-Pond prospect, a single drill hole, HP-05-28, intersected a visible gold bearing quartz vein (5.27 g/t gold over 1.55m, including 13.90 g/t gold over 0.55m) that correlates with quartz veining exposed by surface trenching (up to 25.5 g/t in grabs, see news release dated January 17, 2005). This hole cored two additional quartz vein zones, one of which contains 0.50 g/t gold over 3.2 metres and is 100m down dip from the HP-04-07 Pocket Ponds discovery intersection (6.63 g/t gold over 1.7m).

    The gold bearing quartz veining is hosted by broad, steeply northwest dipping zones characterized by strong sericite and iron carbonate altered metasedimentary rocks. The veined and altered zones are now interpreted to extend over a minimum distance of 13 kilometres based on diamond drilling, trenching, gold bearing float and gold-in-soil anomalies (plans and sections to be posted at www.rubiconminerals.com). Significant assays are tabulated below.

    "Rubicon is pleased that these latest results have demonstrated economically significant gold mineralization exhibiting continuity in three dimensions at both prospects. Drilling along with recent prospecting and trenching indicates the H-Pond area is an emerging new gold belt 100% controlled by Rubicon. We believe the new gold discoveries show many similarities to the Bendigo-Ballarat gold deposits in Australia which have produced over 15 million ounces of gold," stated David Adamson.

    Work on the various projects was carried out under the supervision of David V. Mullen, B.Sc., Qualified Person as defined under National Instrument 43-101.

    Rubicon Minerals Corporation is a Canadian-based mineral exploration company listed on both the TSX and AMEX and focuses on gold exploration in Canada. The Company has a 35.61% interest in a private B.C. corporation, Africo Resources Ltd. Africo is currently undertaking a feasibility study at its Kalukundi project in the DRC and recently reported drill results of up to 53 metres of 2.98% copper and 1.36% cobalt.

    RUBICON MINERALS CORPORATION

    David W. Adamson, President & CEO

Table 1. H-Pond Gold Assay Highlights -------------------------------------------------------------------- Au Au Hole Core (g/t) (g/t) Len- Len- - - Sect- Hole East- gth gth SFA MET ion No. ing Az Dip (m) From To (m) (1) (2) -------------------------------------------------------------------- H-Pond -------------------------------------------------------------------- -------------------------------------------------------------------- 13150N HP-05-19 9873 132 -50 193.85 132.9 135.2 2.3 1.49 0.76 including 132.9 133.4 0.5 3.59 0.50 including 134.7 135.2 0.5 3.19 2.95 13150N HP-05-20 9871 132 -70 252.07 190.25 191.30 1.05 3.13 3.79 including 190.9 191.3 0.4 7.91 9.65 -------------------------------------------------------------------- 13200N HP-05-16 9894 132 -45 157.58 81.8 82.35 0.55 0.99 1.62 13200N HP-05-17 9893 132 -70 224.64 49.85 50.45 0.6 1.15 1.50 and 122 123.15 1.15 0.95 3.15 and 144.6 148.7 4.1 0.44 1.19 including 146 146.6 0.6 0.54 2.65 including 148.1 148.7 0.6 0.40 3.27 and 173.65 174.25 0.6 0.41 2.25 13200N HP-05-18 9892 132 -83 303.89 175 175.35 0.35 7.43 6.82 181.7 187.75 6.05 0.34 0.64 including 182.2 182.55 0.35 0.09 2.00 including 185.85 186.3 0.45 1.54 3.94 and 234.3 234.6 0.3 3.98 4.09 and 241.4 241.9 0.5 2.94 2.84 and 245.9 246.25 0.35 0.88 2.31 -------------------------------------------------------------------- 13250N HP-05-13 9910 132 -45 129.69 55.5 57.35 1.85 1.35 0.97 including 55.5 56 0.5 3.29 2.31 13250N HP-05-14 9910 132 -66 149.44 76.65 78.35 1.7 1.42 0.85 including 76.65 76.95 0.3 6.84 3.59 and 105.7 107.2 1.5 1.19 0.78 including 105.7 106.05 0.35 3.70 1.85 13250N HP-05-15 9909 132 -82 139.29 80.50 84.30 3.80 3.47 3.40 including 81.00 82.65 1.65 7.64 7.36 including 81.50 82.65 1.15 10.14 9.79 including 81.5 82 0.5 14.48 14.4 and 107 114.9 7.9 1.73 0.89 including 112.50 114.90 2.40 4.81 2.02 including 112.50 113.50 1.00 9.93 2.94 including 112.5 113 0.5 18.87 4.40 -------------------------------------------------------------------- 13300N HP-04-01 9984 312 -45 152.4 7.55 52 44.45 1.02 0.75 including 7.55 8.05 0.5 7.12 12.39 and 11.3 13.4 2.1 1.85 2.21 including 13 13.4 0.4 6.47 8.02 and 27.7 28.8 1.1 10.09 8.08 including 27.7 28.3 0.6 16.63 12.15 and 46.7 49.7 3 5.9 1.76 including 46.7 48.5 1.8 9.23 2.33 including 48.15 48.5 0.35 42.59 7.33 -------------------------------------------------------------------- 13300N HP-04-02 10053 312 -45 174.35 83.4 83.7 0.3 2.75 3.37 and 154 158.8 4.8 1.93 2.25 including 155.7 157.2 1.5 4.30 3.48 including 155.7 156.2 0.5 5.00 6.00 including 156.7 157.2 0.5 6.81 3.83 including 158 158.8 0.8 0.63 4.05 13300N HP-05-09 10017 312 -45 125.88 38.9 40.2 1.3 1.93 1.36 and 106.8 110.55 3.75 2.67 2.08 including 106.8 107.6 0.8 11.85 9.02 or 107.2 107.6 0.4 22.18 15.02 13300N HP-05-12 9797 132 -45 245.36 166 167.55 1.55 2.50 3.18 including 167.1 167.55 0.45 5.16 6.69 and 196.9 197.45 0.55 4.96 2.55 or 196.9 197.8 0.9 3.29 1.79 -------------------------------------------------------------------- 13350N HP-04-03 10016 312 -46 190.04 112.7 114.55 1.85 1.92 2.07 and 161.1 164.5 3.4 8.83 11.70 including 161.1 163.5 2.4 12.16 16.27 13350N HP-05-10 9961 312 -45 119.79 No significant assays - did not test zone -------------------------------------------------------------------- 13400N HP-04-04 312 -45 166.12 38.6 45.5 6.9 1.09 1.18 92.9 99.2 6.3 3.66 3.42 including 96.6 99.2 2.6 7.77 7.07 including 97.1 98.35 1.25 14.41 12.64 or 97.1 99.2 2.1 9.59 8.73 or 97.1 98.8 1.7 11.04 9.67 13400N HP-05-11 9885 132 -45 114.6 85.85 88.2 2.35 8.24 5.47 including 85.85 87.7 1.85 10.43 6.91 including 87 87.7 0.7 26.53 16.18 including 87 87.35 0.35 52.37 31.75 -------------------------------------------------------------------- 13500N HP-04-06 9934 312 -45 178 No significant assays - did not test zone 13500N HP-05-21 9919 132 -45 120.7 31.25 34.20 2.95 2.66 2.71 31.75 32.70 0.95 4.03 3.18 49.45 50.15 0.7 1.34 1.04 54 54.5 0.5 1.02 0.88 13500N HP-05-22 9919 132 -70 116.74 64 64.3 0.3 1.66 1.33 13500N HP-05-23 9781 132 -45 199.34 155.95 156.95 1.00 2.91 4.23 160.6 161.1 0.5 1.12 0.89 -------------------------------------------------------------------- 13600N HP-05-25 9842 132 -45 163.37 64.2 64.6 0.4 1.38 0.46 72.75 73.2 0.45 1.54 0.75 -------------------------------------------------------------------- 13600N HP-05-26 9841 132 -70 209.09 97.6 98.1 0.5 1.04 pend- ing 139.35 140.7 1.35 0.93 pend- ing --------------------------------------------------------------------

Pocket Pond -------------------------------------------------------------------- -------------------------------------------------------------------- Au Au Hole Core (g/t) (g/t) Len- Len- - - Sect- Hole East- gth gth SFA MET ion No. ing Az Dip (m) From To (m) (1) (2) -------------------------------------------------------------------- 10700N HP-04-07 10441 312 -45 175.26 77.4 79.1 1.7 4.40 6.63 or 78.3 80.65 2.35 2.83 4.55 including 78.7 80.1 1.4 4.60 7.51 or 78.3 79.1 0.8 7.81 12.77 78.7 79.1 0.4 15.26 25.23 and 83.45 83.75 0.3 2.37 1.62 -------------------------------------------------------------------- 10740N HP-05-28 10179 132 -45 288.34 22.6 24.15 1.55 5.27 pend- ing including 23.6 24.15 0.55 13.9 pend- ing -------------------------------------------------------------------- and 240.8 244.0 3.2 0.50 pend- ing -------------------------------------------------------------------- 10900N HP-04-08 10232 312 -45 174.96 No significant assays --------------------------------------------------------------------

Other Targets (gold in soil anomalies)

-------------------------------------------------------------------- --------------------------------------------------------------------

13400N HP-04-05 9886 312 -45 184.4 No significant assays -------------------------------------------------------------------- 13300N HP-05-12 9797 132 -45 245.36 82.95 83.6 0.65 3.35 2.91 13300N HP-05-24 9569 132 -45 154.23 No significant assays 13000N HP-05-27 10324 132 -45 145.08 31.95 32.25 0.3 0.87 pend- ing --------------------------------------------------------------------

Notes: (1) Assays by 1 A.T. fire assay at Eastern Analytical Labs. (2) Assays by metallic screen fire assay method at Eastern Analytical Labs. Check assays up to the end of hole HP-04-08 on the -150 mesh fraction were conducted by ALS Chemex and are within acceptable limits. All data are uncut.

    The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from targeted results. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The Company relies upon litigation protection for forward looking statements.




    The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

    Rubicon Minerals Corporation (TSX:RMX) (AMEX:RBY)

--30--CCN/na*

CONTACT: Rubicon Minerals Corporation Bill Cavalluzzo VP Investor Relations Toll Free: 1-866-365-4706 bcavalluzzo@rubiconminerals.com www.rubiconminerals.com

KEYWORD: NEW YORK INTERNATIONAL CANADA INDUSTRY KEYWORD: MINING/METALS SOURCE: Rubicon Minerals Corporation

Copyright Business Wire 2005