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Rubicon Minerals reports positive results for new preliminary economic assessment

Rubicon Minerals announces positive results and highlights from a new preliminary economic assessment and updated mineral resource estimate completed by SRK Consulting for the F2 Gold System, which comprises part of the company's flagship Phoenix Gold Project, located in Red Lake, Ontario. On a go-forward basis, the Phoenix Gold Project base case demonstrates an after-tax internal rate of return, or IRR, of 27.0% and a 5% discounted after-tax net present value, or NPV, of $531M; on a pre-tax basis, IRR and NPV are 28.7% and $650M, respectively; Average annual projected gold production of 165,300 ounces, expected to peak at 242,000 ounces in year 2022;