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Rubicon Minerals gets CDN$16 mln from exercise of 2007 warrants

Published: 04:24 22 May 2009 AEST

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Rubicon Minerals Corp (TSX: RMX) said it has received CDN$16,024,265, pursuant to the exercise of May 2007 warrants, priced at CDN$1.50, which expired May 19 2009.

The company has issued 10,682,843 new common shares and has a current cash position of approximately CDN$68.6 million. There are no outstanding warrants.

"These warrant exercises further strengthen our treasury to allow us to aggressively expand the F2 Gold Zone where we recently commenced an underground and surface diamond drill program", stated David Adamson, president and CEO.

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