Rubicon Minerals Strengthens its Board and Management Team - Junior Mining Network

TORONTO, ONTARIO--(Marketwired - Dec. 8, 2016) - Rubicon Minerals Corporation (TSX:RMX) ("Rubicon" or the "Company") is pleased to announce that, upon the completion of the refinancing and recapitalization transaction (the "Restructuring Transaction") announced on October 20, 2016, Peter R. Jones, P. Eng., and David A. S. Palmer, Ph.D., P.Geo., will be appointed to the Rubicon Board of Directors (the "Board"). Michael A. Willett, P. Eng., will also join the management team as the Director of Projects.

Mr. Jones is a Professional Engineer and a seasoned mining executive with more than 40 years of management, operating, and technical experience in the mining industry. Peter was instrumental in the development and transformation of Hudbay Minerals Inc. ("Hudbay") and its predecessor, Hudson Bay Mining and Smelting Company, Ltd. ("HBMS"). As the Chief Executive Officer of Hudbay, Peter orchestrated the company's initial public offering and acquisition of HBMS from Anglo American in 2004. He oversaw Hudbay's emergence until 2008, and its turnaround when he rejoined in 2009. Previously, Mr. Jones was the CEO of HBMS (2002-2004), following years of progressive, senior management roles with the company. Prior to this, he spent several years in various mining, maintenance, and engineering roles at Cominco Ltd., before becoming the Director of Mining of its CESL division (1989-1995). Mr. Jones was also the Chairman and CEO of Adanac Molybdenum Corp. (2008-2009), the Chairman of Medusa Mining Ltd., (2010-2011) and Augyva Mining Resources Inc. (2011-2016). Currently, Mr. Jones serves on the boards of Mandalay Resources Ltd. and Victory Nickel Inc. Previously, he was the Chairman of the Mining Association of Canada and President of the Mining Association of Manitoba.

Dr. Palmer is a Professional Geologist with more than 25 years of management, technical, and exploration experience. David is currently the President and CEO of Probe Metals Inc. Previously, Dr. Palmer was the President and CEO of Probe Mines Ltd. (2003-2015) where he led his team to two successful major mineral discoveries, including the multi-million ounce Borden Gold deposit, and the sale of the company to Goldcorp Inc. in 2015. As recognition of his team's accomplishments at Probe Mines, David was the recipient of numerous awards including the PDAC's Bill Dennis Prospector of the Year (2015) and Northern Miner's Mining Person of the Year (2014). Dr. Palmer has over 15 years of experience with exploration properties in Ontario, including the Red Lake area.

Mr. Willett is a Professional Engineer with more than 30 years of management, operating, technical, aboriginal and government relations experience in the mining industry. Prior to joining Rubicon, Mr. Willett has held senior management roles with March Consulting Associates Inc. (2013-2016) including Vice President of Mining and Business Development, where he was involved in various projects, studies and reviews relative to gold, base metals, potash and uranium mines and projects. Previously, Mr. Willett was the CEO of Tamerlane Ventures Inc. (2010-2013) where he led the advancement of the Pine Point Project in the Northwest Territories. Between 1989 and 2010, Mr. Willett spent several years in various senior mining and engineering roles for Hudbay including General Manager of its Snow Lake Operations and Chief Mine Engineer of the Ruttan Mine. Prior to this, Michael worked for Aurora Quarrying Ltd. and Dynatec Mining Ltd. completing various exploration, pre-production, production and expansion projects across Canada including in the Red Lake and Timmins (Ontario) and Val d'Or (Quebec) mining camps.

"We welcome the commitment of Peter and David to the Rubicon Board, and Michael in joining the management team," said Julian Kemp, BBA, CA, C.Dir., interim Chairman, President and CEO of Rubicon. "Peter and David bring a wealth of technical and executive management experience that are invaluable at this juncture of Rubicon's development and turnaround. Michael brings important underground geological, exploration, mine engineering and project management expertise that will help advance the Phoenix Gold Project."

George Ogilvie, P.Eng., incoming President and CEO of the Company following the completion of the Restructuring Transaction, commented, "I look forward to Peter and David's stewardship and working with Michael again after having successfully collaborated with him on many projects at HBMS."

Mr. Jones graduated from the Camborne School of Mines in the United Kingdom in 1969. Dr. Palmer received his B.Sc. in Geology at St. Francis Xavier University, and his M.Sc. and Ph.D. in Earth and Planetary Sciences at McGill University. Mr. Willett graduated from Queen's University in Kingston, Ontario, Canada, with a B.Sc. in Mining Engineering and a Masters Certificate in Project Management at the Schulich School of Business in Toronto.