Rainy Mountain announces Shares for Debt and Grants Stock Options

Trading symbol: TSX-V: RMO

News Release No. 10-07

Rainy Mountain announces Shares for Debt and Grants Stock Options

West Vancouver, British Columbia – March 11, 2010 – Rainy Mountain Royalty Corp. (the “Company”) announces that, in accordance with the terms of the Company’s stock option plan and as part of the Company’s recent reorganization and management changes, the Company has granted 2,975,000 incentive stock options to certain directors, officers, employees and consultants at an exercise price of $0.105 per share for a term of 5 years. As well, subject to regulatory approval, the Company has agreed to issue 754,524 shares (at a deemed price of $0.105 per share) to Robert Middleton, P.Eng., in settlement of previously rendered accounts for services rendered to the Company.

For further information, contact Mr. Clive Shallow, investor communications, at 604-922-2030 or visit the Company’s website at www.rmroyalty.com (an updated Rainy Mountain Royalty Corp. website is currently being developed).

RAINY MOUNTAIN ROYALTY CORP.

“Douglas L. Mason”

____________________________ Douglas L. Mason, CEO

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.

2489 Bellevue Avenue, West Vancouver, BC V7V 1E1 Tel 604 922 2030 Fax 604 922 2037