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Message: High River Gold First Default Status Report

High River Gold First Default Status Report

posted on Apr 15, 2009 03:43AM
April 14, 2009
High River Gold First Default Status Report
TORONTO, ONTARIO--(Marketwire - April 14, 2009) - High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) is providing its first bi-weekly Default Status Report in accordance with National Policy 12-203 - Cease Trade Orders for Continuous Disclosure Defaults ("NP 12-203"). On March 31, 2009, High River announced that its audited financial statements, management's discussion and analysis, annual information form and related CEO and CFO certifications for the year ended December 31, 2008 (the "Annual Filings") would be filed late due to concerns regarding production numbers received by the Company from its 99% owned subsidiary, Berezitovy Rudnik LLC ("Berezitovy"). Berezitovy owns 100% of the Berezitovy Mine in the Amur Region, Russia. A management cease trade order in respect of securities of the Company was issued by the Ontario Securities Commission on April 3, 2009.

High River reports that since announcing the original Notice of Default on March 31, 2009, there have not been any material changes to the information contained therein, nor any failure by High River to fulfill its intentions as stated therein, and there are no additional defaults or anticipated defaults subsequent to such announcement. Furthermore, there have been no additional material changes in respect of High River and its affairs that have not been generally disclosed.

High River continues to anticipate that the Annual Filings will be filed prior to May 31, 2009 and will continue to provide bi-weekly updates, as contemplated by NP 12-203, until the Annual Filings have been filed.

About High River

High River is a gold company with interests in producing mines, mines under development, and advanced exploration projects in Burkina Faso and Russia.
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