Rubicon Minerals Announces Name Change to Battle North Gold Corporation and Other Updates

TORONTO, July 7, 2020 - Rubicon Minerals Corp. (TSX: RMX) (OTCQX: RBYCF) ("Rubicon" or the "Company") is pleased to announce that it has now completed its corporate name change to Battle North Gold Corporation ("Battle North" or the "Company") to better reflect the Company's culture of perseverance, determination, tenacity and resilience, as part of the Northern Ontario community of Red Lake. We believe the new name provides a fresh perspective on the Company's significant accomplishments in recent years and its renewed long-term potential. The Company has also changed the name of its flagship project in the prolific Red Lake gold mining district to the Bateman Gold Project (the "Project"), formerly known as the "Phoenix Gold Project".

The new corporate name is effective immediately; however, the Company will begin trading on the TSX under its new name and new ticker symbol – BNAU – on or about July 9, 2020, with a new CUSIP 07160B106 and ISIN CA07160B1067. The Company expects to begin trading under its new name on the OTCQX at or about the same time, and under a new ticker symbol later this month, until which time the Company will continue to trade under the current OTCQX symbol (RBYCF). The website address has been changed to www.battlenorthgold.com. Any visitors to our current website address and any communication to our current electronic mail addresses will be redirected accordingly.

Battle North Gold: A New Perspective on a Canadian Gold Developer

Battle North CEO George Ogilvie, P.Eng., states, "This is the dawn of a new era for Battle North Gold, its shareholders and stakeholders. We believe the new name provides a fresh look at the Company's potential to create value. Fueled by our perseverance and determination, we have significantly de-risked and advanced our shovel-ready Bateman Gold Project in Red Lake. We are now just months away from the completion of the Feasibility Study for the Project, the results of which, we believe, are highly anticipated and closely watched by our investors and the many that follow the Company. This will be the maiden Feasibility Study (which will include Proven and Probable Mineral Reserve estimates) for the Bateman Gold Project and is a significant milestone warranting the re-branding of the Company."

"In addition, we are pleased with the progress of our multi-faceted exploration programs. We have completed more than 8,000 metres of orientated drilling at the Bateman Gold Project since the data cut-off date of the NI 43-101 Mineral Resource Estimate in January, targeting the conversion of the Inferred Mineral Resource estimates at depth into the Measured and Indicated Mineral Resource categories at the F2 Gold Zone. We have also commenced infill drilling at the McFinley and Pen Zones, both of which are within 550 metres from the Bateman Gold Project existing infrastructure, including a production shaft and a permitted milling facility. All of our current exploration programs are designed with the intent to add incremental mill feed to our operational 1,800-tonne-per-day, state-of-the-art mill facility. We expect to release the details of our exploration results in the coming weeks."

"We plan to review the data with respect to our 28,000-hectare regional land package in Red Lake with the goal of initiating a regional exploration campaign in the near future."

About Battle North Gold Corporation

Battle North Gold is a Canadian gold mine developer led by an accomplished management team with successful underground gold mine operations, finance, and capital markets experience. Battle North owns the significantly de-risked and shovel-ready Bateman Gold Project, located in the renowned Red Lake gold district in Ontario, Canada and controls the second largest and strategic exploration ground in the district. Battle North also owns a large gold exploration land package on the Long Canyon gold trend near the Nevada-Utah border in the United States. Battle North's shares are listed on the Toronto Stock Exchange and the OTCQX markets. For more information, please visit our website at www.battlenorthgold.com.

BATTLE NORTH GOLD CORPORATION
George Ogilvie, P.Eng.
President, CEO, and Director

Cautionary Statement regarding Forward-Looking Statements

This news release contains statements that constitute "forward-looking statements" and "forward looking information" (collectively, "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "assumption", "believe", "designed", "estimate", "expects", "exploration", "feasibility", "forward", "future", "intent", "may", "milestone", "plan", "potential", "program", "progress", "project", "risk", "strategic", "study", "target", "to maturity", and "will", or variations of such words, and similar such words, expressions or statements that certain actions, events or results can, could, may, should, will (or not) be begin, achieved or occur, or are expected, in the future including trading of the Company's common shares under new ticker symbols on the TSX and the OTCQX market; the Feasibility Study for the Project including timing of its delivery and its results; ongoing and future exploration programs or campaigns; and Mineral Reserve and Mineral Resource estimates including any conversion of current Mineral Resource estimates into other categories. In some cases, forward-looking information may be stated in the present tense, such as in respect of current matters that may be continuing, or that may have a future impact or effect. 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. If such opinions and estimates prove to be incorrect, actual and future results may be materially different than expressed in the forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties, contingencies and other factors which may cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, those described in the Company's annual information form dated March 27, 2020 under the heading "Risk Factors" and the Company's other continuous disclosure documents including, but not limited to, the current Technical Report for the Project, all available under its profile at www.sedar.com and on the Company's website at www.battlenorthgold.com. 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. The forward-looking statements contained herein are expressly qualified by this cautionary statement.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

View original content:http://www.prnewswire.com/news-releases/rubicon-minerals-announces-name-change-to-battle-north-gold-corporation-and-other-updates-301089534.html

SOURCE Rubicon Minerals Corp.