November 24, 2010. Vancouver, Canada - Fire River Gold Corp. (TSX-V: FAU; OTCQX: FVGCF; FSE: FWR) ("FAU" or the "Company") wishes to announce that further to the news release dated October 21, 2010, regarding a non-brokered private placement of 15,555,555 units for total proceeds of $7,000,000, the Company wishes to increase the financing of the non-brokered private placement to 18,888,888 units for total proceeds of $8,500,000 subject to regulatory approval.
The increased portion of the private placement will be used for ongoing development work on the Nixon Fork Gold Mine in Alaska and general working capital.
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 1.14 opt (39 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 partially 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 1.2 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.Neither 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. We seek safe harbour.
