Online Policy and Cautionary Notes

Online Policy

In accordance with TSX recommendations, Rubicon does not comment or respond to online posts or 'forums'. However, it has come to our attention that some bulletin boards have postings that contain false and damaging statements regarding the Company. When we become aware of such statements, we contact the operator of the bulletin board or forum to request the removal of the libellous post(s), damaging and/or inaccurate statements. We also review our other legal rights and remedies and may determine that we will bring legal action against the person who posts such false and damaging statements together with an action against the operator of the bulletin board. Investors or potential investors should not rely on the content of such unregulated media for accurate Company information or investment decisions, and they should contact the Company with questions.

As you may be aware, TSX guidelines (consistent with National Policy 51-201 - Disclosure Standards) advise public company representatives to refrain from posting messages on internet bulletin boards, blogs etc. It has been brought to our attention that certain responses issued from our Investor Relations Department to emailed questions have appeared on various bulletin boards. In keeping with the spirit of the TSX guidelines we have amended our policy, and accordingly will not respond to emailed questions. We invite shareholders and investors to please call our investor relations officer at +1 (416) 766-2804 should they have any questions.

Cautionary Notes

General Disclaimer

Rubicon Minerals Corporation (“Rubicon” or the “Company”) has taken all reasonable care in producing and publishing information contained on this website and will endeavor to do so regularly. Material on this website may still contain technical or other inaccuracies, omissions, or typographical errors, for which Rubicon assumes no responsibility. Rubicon does not warrant or make any representations regarding the use, validity, accuracy, completeness or reliability of any claims, statements or information on this website. Under no circumstances, including, but not limited to, negligence, shall Rubicon be liable for any direct, indirect, special, incidental, consequential, or other damages, including but not limited to, loss of programs, loss of data, loss of use of computer or other systems, or loss of profits, whether or not advised of the possibility of damage, arising from your use, or inability to use, the material on this website. The information is not a substitute for independent professional advice before making any investment decisions. Furthermore, you may not modify or reproduce in any form, electronic or otherwise, any information on this website, except for personal use, unless you have obtained our express permission.

The Toronto Stock Exchange (“TSX”) has not reviewed the information on this website and does not accept responsibility for the adequacy or accuracy of it.

Cautionary Statement regarding Forward-Looking Statements and other Cautionary Notes

This website contains statements that constitute "forward-looking statements" and "forward looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "believes", "intends", "may", "will", "should", "plans", "anticipates", "potential", "expects", "estimates", "forecasts", "budget", "likely", "goal" and similar expressions or statements that certain actions, events or results may or may not be achieved or occur in the future. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. Forward-looking statements reflect our current expectations and assumptions, and are subject to a number of known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements to be materially different from any anticipated future results, performance or achievements expressed or implied by the forward-looking statements.

Forward-looking statements include, but are not limited to statements regarding the exploration potential in Red Lake, the potential growth to the Company’s mineral resources, the potential advancement of the Phoenix Gold Project to development and pre-production, the targeted zones of the planned drilling, drifting and bulk sampling programs, the objectives and outcomes of the planned additional analysis of the geology of the deposits, the objectives and outcomes of the planned additional testing of the resource model, the objectives and outcomes of the planned drilling, drifting and bulk sampling programs, the implementation of the Restructuring Transaction and its potential impact and outcomes on the Company, the potential impact and outcome of George Ogilvie joining the Company, the potential for future exploration success at the Company and the Phoenix Gold Project, the Company’s intended actions during the CCAA proceedings and the amount and intended uses of the proceeds of the New Equity Financing.

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and represent management's best judgment based on facts and assumptions that management considers reasonable. If such opinions and estimates prove to be incorrect, actual and future results may be materially different than expressed in the forward-looking statements. The material assumptions upon which such forward-looking statements are based include, among others, that: the demand for gold and base metal deposits will develop as anticipated; the price of gold will remain at or attain levels that would render the Phoenix Gold Project potentially economic; that any proposed operating and capital plans will not be disrupted by operational issues, title issues, loss of permits, environmental concerns, power supply, labour disturbances, financing requirements or adverse weather conditions; Rubicon will continue to have the ability to attract and retain skilled staff; and there are no material unanticipated variations in the cost of energy or supplies.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Rubicon to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: possible variations in mineralization, grade or recovery or throughput rates; uncertainty of mineral resources, inability to realize exploration potential, mineral grades and mineral recovery estimates; actual results of current exploration activities; actual results of reclamation activities; uncertainty of future operations, delays in completion of exploration plans for any reason including insufficient capital, delays in permitting, and labour issues; conclusions of future economic or geological evaluations; changes in project parameters as plans continue to be refined; failure of equipment or processes to operate as anticipated; accidents and other risks of the mining industry; delays and other risks related to operations; timing and receipt of regulatory approvals; the ability of Rubicon and other relevant parties to satisfy regulatory requirements; the ability of Rubicon to comply with its obligations under material agreements including financing agreements; the availability of financing for proposed programs and working capital requirements on reasonable terms; the ability of third-party service providers to deliver services on reasonable terms and in a timely manner; risks associated with the ability to retain key executives and key operating personnel; cost of environmental expenditures and potential environmental liabilities; dissatisfaction or disputes with local communities or First Nations or Aboriginal Communities; failure of plant, equipment or processes to operate as anticipated; market conditions and general business, economic, competitive, political and social conditions; the implementation and impact of the Restructuring Transaction; our ability to generate sufficient cash flow from operations or obtain adequate financing to fund our capital expenditures and working capital needs and meet our other obligations; the volatility of our stock price, and the ability of our common stock to remain listed and traded on the TSX; our ability to maintain relationships with suppliers, customers, employees, stockholders and other third parties in light of our current liquidity situation and the CCAA proceedings.

It is important to note that the information provided in this website is preliminary in nature. There is no certainty that a potential mine will be realized. A mine production decision that is not based on a feasibility study demonstrating economic and technical viability does not provide adequate disclosure of the increased uncertainty and specific risks of failure associated with such a production decision.

Forward-looking statements contained herein are made as of the date of this website and Rubicon disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws. Readers are advised to carefully review and consider the risk factors identified in the Management's Discussion and Analysis for period ending December 31, 2015 under the heading "Risk Factors" for a discussion of the factors that could cause Rubicon's actual results, performance and achievements to be materially different from any anticipated future results, performance or achievements expressed or implied by the forward-looking statements. Readers are further cautioned that the foregoing list of assumptions and risk factors is not exhaustive and it is recommended that prospective investors consult the more complete discussion of Rubicon's business, financial condition and prospects that is included in this website. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

Qualified Person

The content of this website relating to geology and exploration has been read and approved by Howard Bird, B.Sc. (Hons.), P.Geo., Vice-President, Exploration, who is a Qualified Person as defined by NI 43-101.

Cautionary Note to U.S. Readers Regarding Estimates of Indicated and Inferred Resources

This website uses the terms “measured” and “indicated” mineral resources and “inferred” mineral resources. The Company advises U.S. investors that while these terms are recognized and required by Canadian securities administrators, they are not recognized by the SEC. The estimation of “measured”, “indicated” and “inferred” mineral resources involves greater uncertainty as to their existence and economic feasibility than the estimation of proven and probable reserves. The estimation of “inferred” resources involves far greater uncertainty as to their existence and economic viability than the estimation of other categories of resources. It cannot be assumed that all or any part of a “measured”, “indicated” or “inferred” mineral resource will ever be upgraded to a higher category.

Under Canadian rules, estimates of “inferred mineral resources” may not form the basis of feasibility studies, pre-feasibility studies or other economic studies, except in prescribed cases, such as in a preliminary economic assessment under certain circumstances. The SEC normally only permits issuers to report mineralization that does not constitute “reserves” as in-place tonnage and grade without reference to unit measures. Under U.S. standards, mineralization may not be classified as a “reserve” unless the determination has been made that the mineralization could be economically and legally produced or extracted at the time the reserve determination is made. U.S. investors are cautioned not to assume that any part or all of a “measured”, “indicated” or “inferred” mineral resource exists or is economically or legally mineable. Information concerning descriptions of mineralization and resources contained herein may not be comparable to information made public by U.S. companies subject to the reporting and disclosure requirements of the SEC.

Mineral resources that are not mineral reserves do not have demonstrated economic viability. The estimation of mineral resources is inherently uncertain, involves subjective judgement about many relevant factors and may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing, or other relevant issues. The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is.

uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category. The accuracy of any such estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that may ultimately prove to be inaccurate. Mineral resource estimates may have to be re-estimated based on: (i) fluctuations in mineral prices; (ii) results of drilling and development; (iii) results of test stoping and other testing; (iv) metallurgical testing and other studies; (v) proposed mining operations, including dilution; (vi) the evaluation of mine plans subsequent to the date of any estimates; and (vii) the possible failure to receive required permits, approvals and licenses.

The mineral resources in this website were reported using Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) Standards. The content of this website has been read and approved by Howard Bird, B.Sc. (Hons.), P.Geo., Vice-President, Exploration, who is a Qualified Person as defined by NI 43-101.

Privacy Statement

Rubicon is committed to ensuring that the privacy of your personal information is protected. Rubicon’s commitment to you has been developed in accordance with British Columbia’s Personal Information Protection Act and ensures that your personal information will only be collected, used, and disclosed in compliance with the law. Rubicon does not collect any personal information about visitors to this website other than information as you may specifically and knowingly provide to Rubicon or other such personal information as is indicated below. Personal information collected by Rubicon will not be transferred to any party outside of Rubicon unless otherwise stated at the time of collection.

Rubicon may collect and maintain statistics relating to the number of visits to the website, the types of browsers used and the Internet Protocol Address of the originator. This information is used only for internal purposes. Any material, information or other communication including, but not limited to, questions, comments or suggestions you transmit to Rubicon through this website will be considered non-confidential and non-proprietary. In making any such transmission, you agree that Rubicon will have no obligations of any kind with respect to those communications. Where it is necessary, in order to respond to your enquiry, the communications you provide may be passed on within the Rubicon organization. By sending any communications to us, you are consenting to the personal information contained therein being transferred within Rubicon and being processed by Rubicon for these purposes. You are prohibited from posting or transmitting to or from Rubicon any unlawful, threatening, libelous, defamatory, obscene, pornographic or other such materials in addition to materials or communications that may violate any law.

Your Consent

By using this website, you consent to the collection and use of information as outlined in the above statement. If Rubicon decides to change its privacy policy, Rubicon will post those changes on this page so that you are always aware of what information Rubicon collects, how it will be used, and under what circumstances it will be disclosed.


Your use of this website shall be governed by the laws of the Province of British Columbia and any applicable federal laws of Canada. You hereby attorn to the exclusive jurisdiction of the Courts of British Columbia in respect of all matters arising out of your use of this website, and the courts of the Province of British Columbia shall have exclusive jurisdiction over any dispute arising out of your use of this website.

Contacting Us

Rubicon welcomes any queries, comments or requests you may have regarding its Privacy Policy. Please do not hesitate to contact investor relations at