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Rubicon Press Release: Gold Recoveries between 92.1% and 95.2% in Preliminary Metallurgical Test Work from Rubicon’s F2 Gold System, Red Lake, Ontario

TSX:RMX/NYSE AMEX:RBY

TORONTO, July 12 /CNW/ – Rubicon Minerals Corporation (RMX:TSX:/RBY:NYSE-AMEX) is pleased to announce positive results from preliminary metallurgical test work performed on several composite samples from the F2 Gold System at its 100% owned Phoenix Gold Project, located in the heart of the prolific Red Lake Gold Camp.

Composite samples returned gold recoveries averaging 93.8%, an absence of any refractory gold component despite the presence of appreciable sulphide minerals in the sampled gold zones and contained low arsenic content. The samples are amenable to standard gravity and carbon-in-leach treatments.

Four composite samples were prepared from a total of 155 drill intercepts. G&T Metallurgical Services Ltd, located in Kamloops, B.C. performed the metallurgical test work under the supervision of Soutex Inc., Mineral Processing and Metallurgy Consultants, located in Quebec City. The test work returned the following results:

<< - Gold recoveries: 92.1%, 93.6%, 94.4% and 95.2%, (average 93.8%), - Sulfur content averaging 2.37% (ranging from 1.57% to 2.82%) consistent with the presence of widespread sulphide minerals (pyrite and pyrrhotite) in the mineralized zones, - Low arsenic content averaging 0.04% (range 0.01% to 0.08%), - Specific gravity for the composites averaging 2.78 (ranging from 2.67 to 2.84) >>

“These preliminary results demonstrate very good gold recoveries indicating the absence of any refractory component. This is highly encouraging and bodes well for optimization of both capital and operating costs through further test work,” stated Claude Bouchard, VP Operations.

Results are preliminary in nature and considerably more sample material and test work is required to further characterize and optimize F2 Gold System metallurgy.

Rubicon Minerals Corporation is a well-funded exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Gold project in Red Lake, Ontario. Rubicon controls over 65,000 acres of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Gold Mine. In addition to its Red Lake holdings, Rubicon also controls over 380,000 acres surrounding the Pogo Mine in Alaska as well as 225,000 acres in northeast Nevada. Rob McEwen, President and CEO of McEwen Capital and former Chairman and CEO of Goldcorp, owns 21.4% of the issued shares of the Company.

<< RUBICON MINERALS CORPORATION "David W. Adamson" President & CEO Assaying and Qualified Person ----------------------------- >>

This news release has been reviewed and approved by Terry Bursey P.Geo.and Regional Manager for Rubicon Minerals Corporation and Qualified Person under the definition of NI 43-101.

Representative composite samples for metallurgical testing were selected by Rubicon Minerals Corporation under the guidance of Soutex Inc., The metallurgical program was designed and supervised by Pierre Roy, P. Eng., Senior Metallurgist, Soutex Inc. Mineral Processing and Metallurgy Consulting. Two types of composite samples were prepared consisting of: 1) quarter sawn NQ drill core (remaining quarter core left in the core box for representative sample);and, 2) combined coarse sample reject material and sample pulp material remaining from original assay testing. For composite samples consisting of sample reject and sample pulp material, individual samples were first sent to an independent Assay lab (ALS Chemex) for verification prior to preparing the respective composite samples.

Metallurgical test work was performed under the supervision of Peter Mehrfert, P.Eng., Senior Metallurgist, G&T Metallurgical Services Ltd. The Metallurgical test work performed consisted of Ore Characterization (size distribution, chemical analysis, mineralogical analysis) and Metallurgical Testing (gravity recoverable gold, flotation tests and cyanidation tests).

Link to the original press release on the Rubicon website

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