Rubicon Minerals Announces Marketed Private Placement for up to C$12 Million of Common Shares

TORONTO, Sept. 20, 2019  – Rubicon Minerals Corporation (TSX: RMX | OTCQX: RBYCF) (“Rubicon” or the “Company”) is pleased to announce that it has entered into an agreement with Cormark Securities Inc. to act as lead agent and including Canaccord Genuity Corp., Mackie Research Capital Corporation, BMO Capital Markets, Industrial Alliance Securities Inc., Laurentian Bank Securities Inc., Legacy Hill Capital Ltd. and TD Securities Inc. (collectively, the “Agents”), pursuant to which they have agreed to act as agents in connection with a fully marketed private placement offering of common shares of the Company (the “Shares”) at a price of $1.00 per Share for aggregate gross proceeds to the Company of a minimum of $8 million and a maximum of $12 million (the “Offering”).

The proceeds from the Offering will be used for exploration and development expenditures at Rubicon’s Phoenix Gold Project and for working capital and general corporate purposes.

The Offering is scheduled to close on or about October 10, 2019 and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the TSX Exchange.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States or to or for the account or benefit of a U.S. person (as defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Rubicon Minerals Corporation

Rubicon Minerals Corporation is an advanced gold exploration company that owns the Phoenix Gold Project, located in the prolific Red Lake gold district in northwestern Ontario, Canada. Additionally, Rubicon controls the second largest land package in Red Lake consisting of over 285 square kilometres of prime, strategic exploration ground, and more than 900 square kilometres of mineral property interests in the emerging Long Canyon gold district that straddles the Nevada-Utah border in the United States. Rubicon’s shares are listed on the Toronto Stock Exchange (RMX) and the OTCQX markets (RBYCF). For more information, please visit our website at www.rubiconminerals.com.

RUBICON MINERALS CORPORATION
George Ogilvie, P.Eng.
President, CEO, and Director

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