Rubicon Announces the Appointment of a New Chief Financial Officer

Rubicon Announces the Appointment of a New Chief Financial Officer 
TORONTO, ONTARIO -- (Marketwired) -- 10/01/13 -- Rubicon Minerals
Corporation (TSX:RMX)(NYSE MKT:RBY) ("Rubicon" or the "Company") has
appointed Nick Nikolakakis to the position of Vice President and
Chief Financial Officer, effective October 7, 2013. 
"I am pleased to announce the appointment of Nick Nikolakakis to the
position of Vice President and Chief Financial Officer," said Mr.
Michael Lalonde, President and Chief Executive Officer of Rubicon.
"Nick has held prominent senior management positions in the mining
sector and brings a wealth of experience in financing mining
projects. Nick's financing background will be very important during
the Company's current pivotal stage of growth, as Rubicon builds the
Phoenix Gold Project toward projected production in 2014."  
Mr. Nikolakakis has over 18 years of corporate finance, accounting
and senior management experience within the mining sector. He was the
former Chief Financial Officer of Rainy River Resources ("Rainy
River"), where he was responsible for the corporation's strategic
plan, as well as its financial and reporting activities. As an
integral part of Rainy River, Mr. Nikolakakis successfully raised
more than $150 million. Prior to Rainy River, Nick was the Vice
President of Corporate Finance at Barrick Gold Corporation
("Barrick"), where he led a US$1.0 billion project financing deal for
Barrick's Pueblo Viejo project in the Dominican Republic and
successfully negotiated a US$1.5 billion corporate revolving credit
facility. Other previously held positions by Mr. Nikolakakis include,
Vice President and Chief Financial Officer of Placer Dome Canada, and
Treasurer at North American Palladium Ltd. Mr. Nikolakakis holds an
Applied Science degree in Geological Engineering from the University
of Waterloo and a Master of Business Administration from the
University of Western Ontario's Ivey School of Business. 
Mr. Nikolakakis will replace, Bob Lewis, the former Rubicon Chief
Financial Officer, who has decided to pursue other opportunities. Bob
will stay on with the Company for an interim period to assist Nick
with the transition.  
"We would like to thank Bob for his substantial contribution and
dedication to the Company over the past several years as the Chief
Financial Officer, and we wish him well on his future endeavours,"
stated Mr. Lalonde.  
About Rubicon Minerals Corporation 
Rubicon Minerals Corporation is an advanced stage gold development
company, focused on responsible and environmentally sustainable
development of its Phoenix Gold Project in Red Lake, Ontario towards
projected gold production in 2014. Rubicon's flagship Phoenix Gold
Project is fully permitted for initial production at 1,250 tonnes per
day. In addition, Rubicon controls over 100 square miles of prime
exploration ground in the prolific Red Lake gold district which hosts
Goldcorp's high-grade, world class Red Lake Mine. Rubicon's shares
are listed on the NYSE.MKT (RBY) and the TSX (RMX) Exchanges.  
RUBICON MINERALS CORPORATION 
Mike Lalonde, President and Chief Executive Officer 
Forward Looking Statements 
This news release contains statements that constitute
"forward-looking statements" within the meaning of Section 21E of the
United States Securities Exchange Act of 1934 and "forward looking
information" within the meaning of applicable Canadian provincial
securities legislation (collectively, "forward-looking statements").
Forward-looking statements often, but not always, are identified by
the use of words such as "seek", "anticipate", "believe", "plan",
"estimate", "expect", "targeting", "look forward" and "intend" and
statements that an event or result "may", "will", "would", "should",
"could", or "might" occur or be achieved and other similar
expressions.  
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. The material assumptions upon which
such forward-looking statements are based include, among others; that
the aspects of the transition will progress on a satisfactory basis;
that the demand for gold and base metal deposits will develop as
anticipated; that the price of gold will remain at levels that will
render the Phoenix Gold Project economic; that operating and capital
plans will not be disrupted by issues such as mechanical failure,
unavailability of parts and supplies, labour disturbances,
interruption in transportation or utilities, or adverse weather
conditions; that Rubicon will meet its estimated timeline for the
development of the Phoenix Gold Project; that Rubicon will continue
to have the ability to attract and retain skilled staff; that the
mineral resource estimate as disclosed in the New Preliminary
Economic Assessment dated June 25, 2013 ("New PEA") will be realized;
and that there are no material unanticipated variations in the cost
of energy or supplies, or in the pre-production capital and operating
cost estimate as disclosed in the New PEA. Rubicon makes no
representation that reasonable business people in possession of the
same information would reach the same conclusions.  
Capital expenditures and time required to develop new mines are
considerable and changes in cost or construction schedules can
significantly increase both the time and capital required to build
and complete a development project. Additional capital costs may be
to be incurred in respect of the Phoenix Gold Project.  
The New PEA is preliminary in nature as it includes inferred mineral
resources that are considered too speculative geologically to have
the economic considerations applied to them that would enable them to
be categorized as mineral reserves and there is no certainty that the
New PEA will be realized. Mineral resources that are not mineral
reserves do not have demonstrated economic viability. The estimate of
mineral resources may be materially affected by environmental,
permitting, legal, title, taxation, socio-political, marketing, or
other relevant issues. The quantity and grade of reported inferred
resources referred to in the New PEA are uncertain in nature and
there has been insufficient exploration to define these inferred
resources as an indicated or measured mineral resource category. 
Forward-looking statements in this news release include, but are not
limited to statements regarding projected production in 2014. 
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: future prices of gold and other metals; possible
variations in mineralization, grade or recovery rates; actual results
of current exploration activities; actual results of reclamation
activities; conclusions of future economic evaluations; changes in
project parameters as plans continue to be refined; failure of
equipment or processes to operate as anticipated; accidents, labour
disputes and other risks of the mining industry; delays and other
risks related to joint venture operations; timing and receipt of
regulatory approvals of operations; the ability of Rubicon and other
relevant parties to satisfy regulatory requirements; the availability
of financing for proposed transactions and programs on reasonable
terms; the ability of third-party service providers to deliver
services on reasonable terms and in a timely manner; and delays in
the completion of development or construction activities. Other
factors that could cause the actual results to differ include market
prices, results of exploration, availability of capital and financing
on acceptable terms, inability to obtain required regulatory
approvals, unanticipated difficulties or costs in any rehabilitation
which may be necessary, market conditions and general business,
economic, competitive, political and social conditions. 
It is important to note that the information provided in this news
release is preliminary in nature. There is no certainty that a
potential mine will be realized. A mine production decision that is
made without a bankable feasibility study carries additional
potential risks which include, but are not limited to, the inclusion
of inferred mineral resources that are considered too speculative
geologically to have the economic considerations applied to them that
would enable them to be categorized as mineral reserves. Mine design
and mining schedules, metallurgical flow sheets and process plant
designs may require additional detailed work to ensure satisfactory
operational conditions.  
Forward-looking statements contained herein are made as of the date
of this news release 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. There can be no assurance
that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking statements. 
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. 
Contacts:
Rubicon Minerals Corporation
Allan Candelario
Director of Investor Relations
+1 (416) 766-2804
ir@rubiconminerals.com
www.rubiconminerals.com