FAU: TSX.V
FVGCF: OTCQX
FWR: FSE
VANCOUVER, Nov. 18 - Fire River Gold Corp. (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR) (the "Company") wishes to announce that further to its news release dated October 21st 2010, the Company has completed the first tranche of its non-brokered private placement and has issued 12,883,083 units (the "Units") at a price of $0.45 per Unit for gross proceeds of $5,797,387.35.
Each Unit consists of one common share and one-half of one non-transferable share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one common share of the Company at a price of $0.65 per share for 18 months, subject to an accelerated expiry provision, such that, in the event that the Company's shares close at or above $0.90 per share for 10 consecutive trading days on the TSX Venture Exchange, the expiry date may be accelerated to 30 days.
All of the Common shares issued pursuant to this closing carry a legend restricting them from trading until March 19, 2011.
The funds from the private placement will be used for the completion of the carbon-in-leach (CIL) circuit.
On behalf of the Board of Directors
(signed)
Harry Barr
President and CEO
Disclaimer: 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. 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. We seek safe harbour.
For further information:
Further Information: Tel: +1 604 685 1870 Fax: +1 604 685 8045
Email: info@firerivergold.com or visit www.firerivergold.com
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3
