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, 2010, 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, 2009 (the "Annual Filings") would be filed late. A temporary management cease trade order in respect of securities of the Company was issued by the Ontario Securities Commission on April 7, 2010.
High River indicated in the original Notice of Default that it anticipated that the Annual Filings would be filed by April 15, 2010. High River now anticipates that the Annual Filings will be filed by April 20, 2010. High River reports that since announcing the original Notice of Default on March 31, 2010, other than the anticipated additional delay, 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 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 unhedged gold company with interests in producing mines and advanced exploration projects in Russia and Burkina Faso. Two producing mines, Zun-Holba and Irokinda, are situated in the Lake Baikal region of Russia. Two new open pit gold mines, Berezitovy in Russia and Taparko-Bouroum in Burkina Faso, are also in production. Finally, High River has two advanced exploration projects with NI 43-101 compliant resource estimates, the Bissa gold project in Burkina Faso and a 50% interest in the Prognoz silver project in Russia.