Rubicon Minerals Corporation

TORONTO, ONTARIO--(Marketwired - Jul 28, 2016) - At the request of the Investment Industry Regulatory Organization of Canada ("IIROC ") on behalf of the Toronto Stock Exchange ("TSX "), Rubicon Minerals Corporation (TSX:RMX)(OTC PINK:RBYCF) ("Rubicon " or the "Company ") is providing remarks on the recent trading activity of its common shares on the Toronto Stock Exchange and U.S. over-the-counter markets.

It is the Company's policy to not comment on market speculation or rumours. The Company does not have any material changes to report at this time and it is not aware of any material, undisclosed information that would account for the recent trading activity. The Company remains in discussions to evaluate strategic alternatives. Rubicon will continue to keep the market informed as required.

RUBICON MINERALS CORPORATION

Julian Kemp, Interim President, Chief Executive Officer, and Chairman

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