Rubicon Receives Permits for Underground Advanced Exploration Program, Phoenix Gold Project, Red Lake Ontario

March 02, 2009

– shaft dewatering in progress-

Rubicon Minerals Corporation (RMX.TSX: RBY.NYSE-Amex) is pleased to announce that pursuant to the Closure Plan approved by the Ministry of Northern Development and Mines, it has received the necessary permits to allow it to commence the planned underground advanced exploration program. The previously approved shaft dewatering and shaft rehabilitation is currently underway and is expected to be completed by the end of March. Once completed, Rubicon will deepen the existing shaft from its current depth of 143 metres to 350 metres below surface where an exploration drift of 200-250 metres with drill stations, will be completed.Rubicon Minerals Corporation (RMX.TSX: RBY.NYSE-Amex) is pleased to announce that pursuant to the Closure Plan approved by the Ministry of Northern Development and Mines, it has received the necessary permits to allow it to commence the planned underground advanced exploration program. The previously approved shaft dewatering and shaft rehabilitation is currently underway and is expected to be completed by the end of March. Once completed, Rubicon will deepen the existing shaft from its current depth of 143 metres to 350 metres below surface where an exploration drift of 200-250 metres with drill stations, will be completed.

Rubicon Minerals Corporation is an exploration company, focusing on exploring and developing gold projects in politically safe jurisdictions with high geological potential. Rubicon controls over 65,000 acres of prime exploration ground in the prolific Red Lake gold district of Ontario which hosts Goldcorp’s high-grade, world class Red Lake Mine. In addition to its Red Lake holdings, Rubicon controls large land positions in Nevada and Alaska. Rob McEwen, President and CEO of McEwen Capital and former Chairman and CEO of Goldcorp, owns 29% of the issued shares of the company.

RUBICON MINERALS CORPORATION
“David W. Adamson”
President & CEO

<>

For further information: Bill Cavalluzzo, VP-Investor Relations, Toll free: 1-866-365-4706, E-mail: bcavalluzzo@rubiconminerals.com, www.rubiconminerals.com; Rubicon Minerals Corporation, Suite 1540-800, West Pender Street, Vancouver, BC, CANADA, V6C 2V6