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RMO.V ·

Brunswick Gold Project - Update on Proposed Drill Program

Exploration Programs

{4311-001/01578249.DOC.2}2489 Bellevue Avenue, West Vancouver, BC V7V 1E1 Tel 604 922 2030 Fax 604 922

2037

Trading symbols: TSX-V: RMO

Frankfurt: EK7N-FF

News Release No. 17-29

Brunswick Gold Project - Update on Proposed Drill Program

West Vancouver, British Columbia – October 12, 2017 – Rainy Mountain Royalty Corp. (the

“Company” or “Rainy Mountain”) announces that it has completed an analysis of the assay data

and results of the Company’s trenching program completed in August 2017 (see the Company’s

news release of August 28, 2017) at the Company’s Brunswick gold project. As a result, Rainy

Mountain is proposing to move forward with a 1500m drill program of approximately 11-13 holes

in order to test three features that were exposed during the summer exploration program.

Trenching completed west of the or iginal gold showing has located a distinct deformation zone

(see photos of the trenching program on the Company’s web site at www.rmroyalty.com), which

is flanked by an intense iron carbonate zone with sulphides. An anomalous gold value of 0.388

g/t was obtained from this deformation zo ne with folded quartz veins 800 m west of the original

gold showing. As such , approximately 4-5 drill holes are proposed in the zone to test this

anomalous site and other locations along the deformation zone where anomalous gold in soils

have been observed. In addition, the sec tion 300m west of the original gold showing where a

32.9 g/t gold value was obtained in the original trenching conducted by Michael Tremblay (one

of the optionors of the Brunswick Property) will also be tested.

Trenching also exposed strong veining 200m west of hole BE17 -04 with chalcopyrite and

anomalous gold values of 0.322 g/t, and 0.172g/t Au associated with anomalous arsenic (As).

Four more holes are proposed along this shear.

On the east part of the West Grid, three gold values of 6.6 g/t, 4.05 g/t, and 2.56 g/t were found

on the east end of a 900m long Induced Polarization (“IP”) trend which may require 2 -3 holes,

as well as one hole to test a parallel IP trend that cannot be reached by trenching equipment.

Budget permitting, additional lines are proposed on the east extension of the east grid to trace

the extension of the original gold zone and , if possible, additional lines will be cut and read with

IP to the west tracing th e anomalous arsenic and gold values observed in the Company’s June

exploration efforts.

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 gold project, in accordance with regulations under

NI 43-101.

{4311-001/01578249.DOC.2}

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 fac ts, 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 differ 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 eco nomic, 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 Com pany 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 exemption from the registration requirements of such Act.