VANCOUVER, BRITISH COLUMBIA--(Sept. 17, 2010) - Fire River Gold Corp. (TSX VENTURE:FAU)(OTCQX:FVGCF)(FRANKFURT:FWR) ("FAU" or the "Company") is pleased to announce that Mr. R. David Russell has been appointed to the Company's Board and will act as the Lead Director.
Mr. Russell has been the President & CEO and Director of Apollo Gold Corporation ("Apollo Gold") since 2002, which was listed on the TSX and on AMEX. In May 2010 Apollo Gold merged with Linear Gold Corp. to form a new entity called Brigus Gold Corp. (TSX & NYSE AMEX: BRD) with proven & probable reserves over 2,360,000 oz of gold. The Black Fox Mine in Timmins, Ontario and is currently producing at the rate of 85,000 ounces per year. In 1999, Mr. Russell founded Nevoro Gold Corporation which was subsequently merged with Apollo Gold. From 1994 to 1999, Mr. Russell was Vice President and Chief Operating Officer for Getchell Gold Corporation ("Getchell"), a Nevada gold producer which was acquired in 1999 by Placer Dome Inc. (NYSE: PDG) for US$1.09 billion. Prior to working for Getchell, Mr. Russell was General Manager, US operations, for LAC Minerals Ltd. and, after their acquisition, Barrick Gold Corporation. Mr. Russell received his Mining Engineering Degree from Montana Tech at the University of Montana.
Harry Barr, Chief Executive Officer, stated, "I am very pleased to welcome R. David Russell to Fire River Gold Corp. as our Lead Director. Mr. Russell's extensive exposure in all aspects of the gold mining industry will be a valuable addition to Fire River Gold's Board of Directors as we move the Company through its development phases." In addition, the Company wishes to announce that 300,000 incentive stock options have been granted, subject to regulatory approval, to Mr. Russell at an exercise price of $0.60 per common share for a period of five years.
About Fire River Gold Corp.
Fire River Gold Corp. is a near term production company with an experienced technical team focused on bringing its flagship project, the Nixon Fork Gold Mine, back into production within the next 12 months. The Nixon Fork Gold Mine is a fully permitted and bonded mine with past production values averaging 1.4 opt (42 gpt). Facilities at the Nixon Fork Gold Mine include a 200 tpd flotation plant with a gravity gold separation circuit and a sulphide flotation circuit. In 2008, a CIL gold leaching circuit was purchased and approximately 60% installed.
The mine also includes a fleet of mining vehicles, a self-contained power plant, maintenance facilities, drilling equipment, an 85 person camp, office facilities and a 1.5 km long landing strip. Fire River Gold Corp. is a member of the International Metals Group.
On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. A feasibility study has not been completed and there is no certainty the disclosed targets will be reached nor that the proposed operations will be economically viable.
We seek safe harbour.
The TSX Venture Exchange or its Regulation Services Provider have not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management.
