Rainier Resources Ltd. has entered into an engagement letter with Salman Partners Inc. to sell on behalf of Rainier, on a commercially reasonable effort basis, up to 20 million dollars of securities in a private placement.

The securities to be offered consists of up to 20,000,000 units priced at $1.00, consisting of one common share (a "Common Share") and one half non-transferable common share purchase warrant (a "Warrant"). The warrant is exercisable by the holder thereof to purchase an additional Common Share at an exercise price of $1.50 (the "Exercise Price") for a period of eighteen months.

Tags: Rainier Resources Ltd.