Rubicon’s Phoenix Gold Project on Track to Produce in Mid-2015

Rubicon Minerals Corp. (TSX:RMX,NYSEMKT:RBY) announced that construction of its Ontario-based Phoenix gold project is on schedule, with initial production expected to take place in mid-2015. The project remains well funded.

Michael A. Lalonde, president and CEO of Rubicon, commented:

We are pleased to announce that underground development rates have significantly improved since September and we are realizing better productivity and cost savings. Our operations team began stockpiling mineralized material from underground stope development last week, ahead of schedule. One of the stopes being developed is a trial stope located between the 305- and 244-metre levels, which will utilize the Alimak longhole method. This trial stope will provide us with valuable information with regard to dilution, recovery, and productivity as we march forward to projected initial production in mid-2015. Underground stope development will accelerate in January as several new stopes are being developed.

Click here to read the full Rubicon Minerals Corp. (TSX:RMX,NYSEMKT:RBY) press release.