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Additional Trenching and Prospecting Yields New Zones on East and West Grids of the Brunswick Property

Exploration Programs

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Trading symbols: TSX-V: RMO

Frankfurt: EK7N-FF

News Release No. 17-23

Additional Trenching and Prospecting Yields

New Zones on East and West Grids of the Brunswick Property

West Vancouver, British Columbia – August 28, 2017 - Rainy Mountain Royalty Corp. (the

“Company” or “Rainy Mountain”) announces further exploration results from a trenching program

currently underway on its optioned gold exploration property (the “Brunswick Property” or

“Property”) located 140 km south of Timmins, Ontario.

Additional Brunswick Property Exploration Discoveries:

• New discoveries of 4.05 gm Gold (Au) and 2.56 gm Gold (Au) on West Grid of Property

• New carbonate shear structure extending west of gold showing found by trenching

Rainy Mountain has been undergoing a trenching program on a numb er of recently identified

Induced Polarization (“IP”) anomalies (see the Company’s news releases of December 12, 2016,

May 4 and April 4, 2017) on the East Grid of its Brunswick Property, and as well, carbonate sericite

shear zones have been exposed which are associated with these IP anomalies. Samples from these

exposed shear zones have been submitted for testing and assays are pending.

As well, 800m west of the original gold showing (on line 49800E), a parallel carbonate zone was

found 75m to the north side of a strong IP trend currently being trenched (on line 49000E), which

may represent an extension of the original gold structure. This zone has been sampled and assays

are also pending.

As part of the current exploration program, the Company has trenched 100m east of drill hole

BE04, thus exposing the host carbonate shear which has also been sampled. In addition, several

trenches were dug (1,000m and 900m west of drill hole BE04) exposing the shear structures

associated with the IP trends.

On the West Grid of the Property, sampling of a new shear structure discovered on line 48500 has

identified a number of sulphide bearing structures adjacent to a porphyry and is being traced further

by mapping. Also, two grab samples containing 4.05 gm Gold (Au) and 2.56 gm Gold (Au) from

a sulphide rich shear zone containing quartz veins have been found on the extension of the previous

discovery of 6.6 gm Gold (Au) grab sample (see the Company’s news release of July 12, 2017).

This new location is northwest of the previous 6.6 gm Gold (Au) sampling site on a parallel shear

zone. All three gold bearing samples have new pathfinder elements, including Bismuth and

Tellurium (Bi-Te), with some copper mineralization as well. A separate IP trend (parallel to the

shear and roughly 50-75m north), and a much wider structure, may be present which will require

further trenching. Porphyry sills, or dikes, also occur along the south side of this shear featu re.

Access trails for 4 -wheel ATV vehicles have been cut to get equipment in to this location

(approximately 1,000m from the main logging road).

- 2 -

The current trenching program has highlighted important features that will greatly assist the

Company’s focus for the next phase of planned drilling. Step out holes to drill hole BE04 and the

new carbonate shear are planned, as well as additional drill holes on the shear zones where the new

gold discoveries have been identified.

Assay Preparation

Assaying of the grab samples are being completed by ALS Canada in North Vancouver , British

Columbia using both MEME41 ICP and Au21 f ire assay on a 30 gm sample, with any values

exceeding 3.0 gm Gold (Au) to be re-assayed. Sample preparation was done by ALS Canada in

Timmins, Ontario.

This news release has been reviewed and approved by Robert Middleton, P.Eng., who is acting as the

Company’s Qualified Person for the Brunswick Property project, in accordance with regulations under

NI 43-101. Samples on the w est side of the Property were taken by veteran p rospector, Mike

Tremblay, and trenching and washing was completed by experience d field perso nnel from

Timmins, Ontario, who have assisted Mr. Middleton in the past on exploration and discovery work

in both Timmins and Hemlo, Ontario.

For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604 -922-

2030, or visit the Company’s website at www.rmroyalty.com.

RAINY MOUNTAIN ROYALTY CORP.

“Douglas L. Mason”

________________________________

Douglas L. Mason, Chief Executive Officer

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 release

This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable

securities legislation. All statements, other than statements of historical facts, that address such matters as future exploration,

drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are

forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable

control of the Company. Such statements are not guarantees of future performance and actual results or developments may diffe r

materially from those expressed in, or implied by, this forward-looking information. Factors that could cause actual results to differ

materially from those in forward -looking statements include such matters as market prices, exploitation and exploration results,

continued availability of capital and financing, and general economic, market or business conditions. Any forward -looking

statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of

the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to

revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be

required by applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United

States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as

amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemptio n

from the registration requirements of such Act.