Suite 2270-1055 W. Georgia Street P.O. Box 11144, Royal Centre Vancouver, BC V6E 3P3 Telephone: 604-569-0049 rapiergold.com October 4, 2013 TSX-V: RPR Rapier Gold provides exploration update on the Pen Gold Project, 37.6 g/t sample taken in new target area Vancouver, BC Rapier Gold Inc. (TSX-V: RPR) (the Company ) is pleased to provide an exploration program update for its Pen Gold Project, approximately 75 km southwest of Timmins, Ontario. The summer mapping and prospecting program was completed last week. The majority of the field work has focused on the northern portion of the Pen Gold Project to expand on previous prospecting by Rio Tinto and to meet the expenditure obligations under our share purchase agreement. Highlights of the work to date include: 37.6 g/t sample taken at the Area, 2 km southwest of the Talc Mine Area, confirms the potential for a new target location. The anomalous trend has been extended to a distance of 3.5 km. The Porphyry Hill Area anomalous trend appears to be 1.5 km long. Geochemist Dr. Tim Barrett has completed an initial review of data. We have commenced further work to test for possible Volcanogenic Massive Sulphide (VMS) mineralization, initially identified in drill hole PG13-110. Links to Appendices: Appendix 1 - Maps of 2013 sample locations and 2013 an 2010 geochemical anomalies: http://media3.marketwire.com/docs/ra1.pdf. Appendix 2 - Sampling results, see Appendix 1 for map of anomalies: http://media3.marketwire.com/docs/ra2.pdf. Appendix 3 - Area: http://media3.marketwire.com/docs/ra3.pdf. Appendix 4 - New Hydro Line Area: http://media3.marketwire.com/docs/ra4.pdf. Mapping/Prospecting: See Appendix 1 for sample location map and Appendix 2 for sample results table Approximately 4,100 hectares, or approximately 25%, of the Pen Gold Project s 16,000 hectare property has now been covered by mapping and prospecting crews. More than 90% of the assays have been returned. 43 samples reported grades greater than 50 ppb gold. Highest values are 37.6 g/t from the Area and 4.89 g/t from a sub-outcrop west of the Area. The Area, 2 km southwest of the Talc Mine Area, was identified initially in our data compilation work. Eighteen anomalous values were returned from the stripped area reconfirming the anomalous values found by Steetley Industries Limited (Steetley) in the 1980s. This includes a 37.6 g/t sample taken close to the location of a grab sample taken by Steetley that returned 1.3 oz/t from a narrow east-west structure. (See Appendix 3 for more details on the Area.)
Three new anomalous gold values were returned from east of the Area ( Eastgate ), where a grab sample assayed 1.2 g/t, potentially extending the zone another 1,000 m to the east. Anomalous gold values from grab sampling have now been returned over a distance of 2.5 km along this ridge of altered mafic volcanics with quartz veining and sulphides. Another grab sample from sub-outcrop, taken earlier this summer, returned a value of 4.89 g/t gold from a similar style of mineralization another 1 km west along this trend, possibly extending the mineralization for a total length of 3.5 km. The area where this sub-crop sample was taken was re-examined without finding the source of the anomalous assay, although similar veining is located nearby. The Porphyry Hill Area, which returned a grab assay value of 4.41 g/t gold in 2010 and four anomalous assays earlier in the summer, was followed up by further prospecting and sampling. This sampling returned three additional anomalous values from sheared and altered porphyry. The trend appears to be 1.5 km long. In the process of preparing ground for a new hydro line for Imerys, north of the Talc Mine Area, outcrops of sediment and porphyry with quartz veining were uncovered. Grab samples were taken at a few locations with some anomalous values returned. The area will be washed and channel sampled within the next few weeks. See Appendix 4 for an example of the veining at the new hydro line area. Geochemistry: Dr. Tim Barrett has completed a site visit and preliminary analysis of the data from the holes around PG13-110 and has recommended that a few more samples to be analyzed for geochemical signatures to determine rock types. He has also recommended petrography of the core from drill hole PG130110 to determine if the sulphides present are depositional or replacement in nature. The results of his findings will be used to determine the next steps in exploring this zone as a potential VMS target. Planned Work Programs for Remainder of 2013: Data compilation and interpretation of the work from previous work and this field program will be used to generate new maps and prospective targets for further exploration along the known trends as well as new areas. Weather permitting, the hydro line area will be washed and channel sampled, and a number of other targeted areas will be chosen for overburden stripping and channel sampling. An airborne magnetic and EM survey is being considered for late fall/early winter to cover the Pen Gold North area to bring geophysical coverage up to the same standard as Pen Gold South. This data will be used to interpolate geology where other geological/geochemical methods cannot be used due to lack of rock exposure. About Rapier Gold Inc. Rapier was listed on the TSX.V on March 8, 2013 and currently has 23,917,838 shares issued. Rapier s activities are solely focused on exploring the Pen Gold Project which comprises 16,448 hectares (approximately 160 sq km), 75 km southwest of Timmins, Ontario, in close proximity to the western extension of the Porcupine-Destor Deformation (Fault) Zone, one of the most productive gold structures in the world. AuRico Gold Inc. owns 19.9% of Rapier Gold. Quality Assurance Quality Control ( QA/QC ) Industry best practices are followed on the project including the routine insertion of blank and standard samples in all grab samples. The samples are submitted directly to Actlabs in Timmins for preparation and analysis. Gold analyses are conducted on 1 assay-ton aliquots, using fire assay methods with an atomic absorption finish for samples grading up to 5 g/t Au and with a gravimetric finish for samples above that level. Gary Wong, P.Eng., Vice-President Exploration of the Company, and a Qualified Person under the definition in National Instrument 43-101, has reviewed and approved the technical content of this release. ON BEHALF OF THE BOARD OF DIRECTORS Roger Walsh, President & CEO Contact: Roger Walsh Phone: 604-569-0049 Email: info@rapiergold.com Website: www.rapiergold.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this release constitutes forward-looking statements. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration activities, that the Company is able to procure personnel, equipment and supplies required for its exploration activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Appendix 1 Maps of 2013 sample locations and 2013 and 2010 geochemical anomalies
Appendix 1 (Continued)
Appendix 2 Sampling results (see Appendix 1 for map of anomalies): 2013 Grab Sampling Sample Easting Northing Au (g/t) Au (ppb) Description Occurrence Area altered mafic volcanic; 70% quartz-ankerite veining; 321202 418474 5340308 0.251 251 4% py 321207 416961 5340984 0.064 sheared mafic volcanic; 30% carbonate stringers; 64 minor py 321211 417837 5340195 0.54 mafic volcanic; strong ankerite alteration; 70% 540 quartz veining > 321212 417837 5340195 0.06 60 intermediate volcanic; trace py 1026604 423646 5339986 0.074 mafic volcanic; moderate carbonate alteration; 4% 74 quartz veining; 1% py 1026503 415290 5337740 0.289 sheared quartz feldspar porphyry; weak ankerite 289 alteration ; 5% quartz veining; trace py Porphyry Hill 1026504 414653 5337772 0.132 fractured feldspar porphyry near diabase dike; 10% 132 quartz veining Porphyry Hill 1026505 415346 5337401 0.125 chlorite-silica schist; sheared and altered sediment; 125 1% py 1026506 413836 5337678 0.253 massive feldspar porphyry with minor quartz 253 fracture filling; 7% quartz Porphyry Hill 1026507 413307 5337959 0.06 contact between feldspar porphyry and mafic dike; 60 8% quartz sweats; local chlorite 321483 416830 5340203 4.89 5000 (1) 5% py sub-outcrop-rubble; rusty quartz-ankerite vein with sheared mafic volcanic; sericite-ankerite-chlorite 1026651 420541 5340201 0.063 63 schist; light grey and white mottled quartz stringers 1026551 419628 5337925 0.056 56 diorite; 60-70% quartz-chlorite veining 1026638 417322 5336433 0.112 112 50cm white quartz vein 1026640 417298 5336458 0.359 altered diorite; 5-10% white to grey quartz stringers 359 and flooding; 10-20% asp and po 1026642 417306 5336456 0.081 altered diorite; 60-70% mottled grey quartz veining 81 and flooding; 5-10% asp and po 1026643 417306 5336456 0.29 altered diorite; strong quartz flooding; 5-10% asp 290 and po 1026811 417302 5336427 0.519 519 altered diorite; abundant quartz; 3-5% asp and po 1026819 417300 5336423 0.946 altered diorite; 50-60% suggary grey quartz veining; 946 abundant chlorite; 10-20% asp, py and po 1026820 417309 5336455 0.344 altered diorite; 50-60% grey to white quartz veining; 344 5-10% asp and po 1026822 417317 5336458 1.19 1190 quartz gabbro; 3-5% po 321148 418424 5340304 0.06 60 5-10cm white quartz vein; rusty margins; 0.5-1% py 321155 417236 5336476 0.342 342 30cm rusty zone in quartz diorite; 3-5% po 321156 417261 5336497 0.357 3cm smokey grey quartz vein with 3-5% asp in quartz 357 diorite along margins of vein mineralized boulder; 5cm smokey grey quartz vein 321157 417262 5336498 0.417 417 with >5% asp in quartz diorite along margins of vein 1026524 417299 5336478 0.216 216 altered diorite; 5-10% asp and po sheet of rusty grey quartz veining in diorite; 1% py 1026526 417299 5336467 0.1 100 and asp; 95% quartz
Appendix 2 (Continued) Sample Easting Northing Au g/t Au (ppb) Description Occurrence Area sheared diorite; 30-40% rusty quartz veining; 1-3% 1026528 417307 5336458 1.4 1400 asp 1026529 417313 5336467 0.081 30cm zone of strongly sheared diorite; 5-10% quartzankerite veining; 1% asp 81 1026530 417311 5336455 0.365 strongly altered diorite; 30-40% quartz veining and 365 flooding; 5% asp 1026852 417321 5336444 0.206 8cm wide mottled grey quartz vein; 1% aspy; 95% 206 quartz 1026863 414652 5337752 0.228 resample of 1026504; feldspar porphyry; moderate 228 ankerite and sericite; 25% quartz fracture fill Porphyry Hill 1026864 414652 5337764 0.053 resample of 1026504; feldspar porphyry; weak 53 ankerite and sericite; 5-10% quartz fracture fill Porphyry Hill 1026865 413837 5337678 0.615 resample of 1026506; fractured and weakly altered 615 feldspar porphyry; 5% quartz stringers; trace py Porphyry Hill 1026903 417822 5339414 0.146 mafic volcanic; weak carbonate and chlorite 146 alteration; quartz veinlets; 2-3% py 1026656 420337 5340294 1.24 2cm dark grey quartz stringer in altered mafic volcanic; cutting foliation for >1m; minor py in 1240 quartz Eastgate 5-30cm white quartz vein in altered mafic volcanic; 1026666 420249.5 5340317 0.131 131 0.5% py Eastgate 1026669 420246.5 5340318 0.115 5-30cm white quartz vein in altered mafic volcanic; 115 0.5% py; 20% quartz Eastgate 5-10cm grey fractured rusty and yellow quartz vein in fg sediments; similar to "contact" vein at mine; 1026685 418414 5338710 0.074 74 80% quartz New hydro line 1026688 418415 5338707 0.351 grey to white sugary quartz veins in fg sediments; 351 60% quartz New hydro line 1026691 417316 5336432 37.6 4cm greenish white quartz stringer in altered diorite; > 5000 10-20% asp; Steetley Talc vein 1 321432 422720 5336798 0.051 sugary white quartz vein in mafic volcanic; local 51 chlorite; minor py and po; 0.5% cpy; 75% quartz 1026775 420275 5337103 0.096 96 sheared mafic volcanic; 2% cpy and py Notes: 1.This grab sample occurred in sub-outcrop and will be further explored to identify outcrop.
Appendix 2 (Continued) 2010 (Rio Tinto) Grab Samples Sample Easting Northing Au g/t Au (ppb) Description Occurrence Area quartz veins with black tourmaline and trace fuchsite; in quartz feldspar 766352 414751 5337834 4.41 > 3000 porphyry Porphyry Hill 320593 419192 5340321 4.83 > 3000 quartz stringer zone in mafic volcanic; strong ankerite and sericite alteration; 2% py 320594 419192 5340321 0.452 452 mafic volcanic; strong ankerite and sericite alteration; 3-5% py 320599 419219 5340340 0.097 97 quartz-black tourmaline vein; bleached ankerite alteration halo in mafic volcanic; 5% py 320651 418532 5339183 0.09 90 sericite-ankerite schist; quartz porphyry or altered sediment; 2% sulphides quartz-ankerite-tourmaline vein 320711 419215 5340307 0.126 126 stockwork in mafic volcanic 320712 419225 5340322 0.093 93 quartz-tourmaline stringers in mafic volcanic; strong ankerite alteration; 1-2% py 320714 419249 5340321 0.059 59 felsic sill or volcanic; 2-3% py 320719 419283 5340318 0.071 71 mafic volcanic; moderate ankerite and sericite alteration; quartz-ankerite stringer; 2% py in wallrock 320735 419267 5340332 0.075 75 mafic volcanic; moderate to strong ankerite and sericite alteration; 20-30% quartz veining; 2-3% py 320736 419270 5340333 0.076 76 quartz-tourmaline vein; trace py in wallrock 320743 419257 5340332 0.074 74 mafic volcanic; strong ankerite and sericite alteration; quartz-ankerite stringers; 2-3% py 320757 418593 5340326 0.571 571 mafic volcanic; weak to moderate ankerite and sericite; minor quartz stringers; 1% py 320764 418489 5340320 0.424 424 mafic volcanic; strong ankerite alteration; 20-30% white quartzankerite vein stockwork; trace py 320765 418456 5340314 0.155 155 mafic volcanic; strong ankerite alteration; 20-30% white quartzankerite vein stockwork; minor py quartz-ankerite vein in mafic volcanic; 320767 418345 5340327 1.29 1290 strong ankerite and sericite alteration 320787 417627 5337960 0.069 69 rusty mafic volcanic or chloritic sediment; 2 cm quartz vein; trace py
Appendix 3 Area Prospecting on the stripped area found large areas of alteration, quartz veining, shearing, and sulphides (pyrite, arsnopyrite, and pyrrhotite). It also established that it was under-sampled, historically. The Steetley mapping of the stripped area indicates that some large veins have not been sampled. Others have been sampled only partially, mainly across the contact between host rock and quartz vein leaving large widths of the veins unsampled. While most of the channel samples appear to be adequately taken, a few examples were found of very shallow and uneven samples. Drill logs from the five holes drilled by Steetley also indicate under-sampling. Veins and sulphides noted in the logs were not always sampled. The highest assay returned from the Steetley drilling, 6,200 ppb from 368.2-369.9m in drillhole S-88-1, had no additional samples (bracket samples) taken around this assay. The mineralization remains open in all directions and to depth. The surrounding area is highly prospective, especially the contacts between the diorite, host to the Nib Yellowknife and possibly a part of the Reeves Ultramafic Complex, and other rock units including komatiitic volcanics (and possibly carb rock), porphyry, sediments, and possible mafic volcanics. Un-sampled veins at the stripped area
Appendix 3 (Continued) Poorly sampled channel at the stripped area Most of vein unsampled at the stripped area
Appendix 4 New Hydro Line Area Imerys has logged and stripped an area north of the Talc Mine Area to construct a new hydro line. During this process they uncovered outcrops of sediment and porphyry with quartz veining. Grab samples were taken at a few locations with some anomalous values returned. The area will be washed and channel sampled within the next few weeks. This is time sensitive work since the hydro line is being filled with waste rock. Grey quartz vein in sediments at New Hydro Line Area