Phoenix Gold Project

100% RUBICON MINERALS CONTROLLED IN THE HEART OF THE RED LAKE, ONTARIO GOLD DISTRICT

• March, 2008 discovery of high-grade F-2 Zone
• 2008-09 continued outstanding drill results of high-grade and bonanza grade gold (see table below)
• Decison made to de-water and deepen shaft for ~ 60,000 metre underground drill program.
• $25 million aggressive exploration program underway.

FOUR KILOMETRES OF PROSPECTIVE AND UNDER-EXPLORED GEOLOGY

• Documented Red Lake gold type deposit environment. Historically, very little of the four kilometre prospective ground had been explored
• Rubicon has systematically developed a geological and structural model of the Phoenix Gold Project to best target new areas

NEAR SURFACE GOLD ZONES DISCOVERED AT THE ISLAND ZONE

• Island Zone discovered in 2004
• 67 drill intercepts form the zone average 10.66 g/t gold over 2.00 metres
• Zone is open to depth and along strike
• New near surface gold zones discovered in 2007, including the North Peninsula Target, the KZ Target and the West Mine Target

UTILIZING THE LATEST TECHNOLOGY

• Advanced technology (Titan24 Survey) utilized in 2008 can penetrate down to 800 metres and has identified gold system to depth
• "F2 ZoneGold system documented by drilling, 1100 metres below surface!"
• Major gold deposits in camp extend to 3,000 metres

AGGRESSIVE $25 MILLION, 12-MONTH EXPLORATION PROGRAM PLAN

• 23 million ounces of gold produced from the Red Lake campMore than 2 million ounces of gold has been produced from this trend of prospective rocks

Click here to view Technical Presentation (PDF 4.30MB)

On May 8, 2008 Rubicon Minerals hosted analysts to tour the Phoenix Gold Project to review plans, sections and drill core from the F2 Zone gold discovery. View the May 2008 photo gallery below.