Rainy Mountain Concludes Memorandum of Understanding with Mattagami First Nation for its Brunswick Property Project, Ontario

P:Astrid/RMO/2017/NR/RMO-NR0508.doc

Trading symbol: TSX-V: RMO

Frankfurt: EK7N-FF

News Release No. 17-15

Rainy Mountain Concludes Memorandum of Understanding with

Mattagami First Nation for its Brunswick Property Project, Ontario

West Vancouver, British Columbia – May 8, 2017 – Rainy Mountain Royalty Corp. (the

“Company” or “Rainy Mountain”) is very pleased to announce that it has concluded a

Memorandum of Understanding (the “MOU”) with the Mattagami First Nation ("Mattagami")

in connection with the Company's optioned gold exploration property project (the “Brunswick

Property”) located in the Timmins area of Ontario.

The MOU establishes the desire of the Mattagami First Nation and Rainy Mountain to

work together, creating a long -term, mutually beneficial, co -operative and respectful

relationship in the spirit of social, environmental, cultural, and economic well -being. In

accordance with the MOU, Rainy Mountain has agreed to pro vide certain benefits and

to provide employment and service related opportunities to Mattagami, and in return,

Mattagami has agreed to support the Company’s exploration of the Brunswick Property.

The MOU will cover the exploration phase of the Company's Br unswick Property project

and also outlines a framework for collaboration on prevention, mitigation remediation

and accommodation for environmental impacts which may result from exploration

activities.

Chief Chad Boissoneau of the Mattagami First Nation states, “Mattagami First Nation

takes pride in the fact that we are working effectively with industry to both ensure

respect for our traditional and treaty rights, and to create opportunities for social,

environmental and eco nomic participation. The signing of the MOU for the Brunswick

Property p roject with Rainy Mountain reflects the beginning of a progressive

relationship. The MOU illustrates the willingness of our First Nation to work alongside

mineral exploration compani es who demonstrate a commitment to social and

environmental responsibility, as well as respect for our lands and rights. I would like to

acknowledge and thank former Chief of Mattagami First Nation, Walter Naveau, and our

Lands and Resources Department for facilitating the process.”

Douglas Mason, Chief Executive Officer of Rainy Mountain Royalty Corp. states, "The

Company is extremely pleased to have been able to conclude a favourable MOU with

the Mattagami First Nation and we believe that this Agreement will bring economic

opportunities to the region and will provide certainty for the Company's Brunswick

Property project in a manner which is respectful of Mattagami’s traditional territory and

its aboriginal and treaty rights."

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For further informati on, contact Mr. Clive Shallow, Shareholder C ommunications, 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

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