TORONTO, ONTARIO -- (Marketwire) -- 01/18/12 -- High River Gold Mines Ltd. ("High River" or the "Company") (TSX:HRG) announces its preliminary operational results for the year ended December 31, 2011. The numbers stated below are preliminary and subject to final adjustment.

HIGHLIGHTS FOR 2011

--  Total gold production (including silver in gold equivalent) reached 374
    Koz (100%). In 2010, total gold production was 330 Koz (100%). 374 Koz
    of gold (including silver in gold equivalent) have been sold in 2011. 
--  The Zun-Holba and Irokinda Gold Mines operated by Buryatzoloto produced
    134 Koz (100%). The recovery at Buryatzoloto was 93% in 2011. 
--  The Taparko-Bouroum Gold Mine operated by Somita produced 133 Koz
    (100%). The recovery at Taparko-Bouroum mine was 84% in 2011. 
--  Gold production at Berezitovy was 107 Koz (100%). The recovery at
    Berezitovy was 90% in 2011. 
--  The mining license for the Bissa Gold Project was granted and the mine
    construction commenced.

Buryatzoloto Combined Operational Data                                      
                                                                            
                               Three months ended            Year ended     
                         ------------------------------ --------------------
                           December September  December   December  December
                           31, 2011  30, 2011  31, 2010   31, 2011  31, 2010
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Ore mined (Kt)                  173       162       162        659       630
Ore processed (Kt)              174       177       174        680       661
Gold grade (g/t)                6.1       6.6       6.9        6.5       6.9
Gold production (Koz) -          36        34        35        134       136
 100% (1)                                                                   
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(1) Includes gold from tailings recovery and other sources.                 
                                                                            
                                                                            
Berezitovy Operational Data                                                 
                                                                            
                               Three months ended            Year ended     
                         ------------------------------ --------------------
                           December September  December   December  December
                           31, 2011  30, 2011  31, 2010   31, 2011  31, 2010
----------------------------------------------------------------------------
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Ore mined (Kt)                  488       367       439      1,758     1,500
Ore processed (Kt)              334       366       251      1,391     1,050
Gold grade (g/t)                2.7       2.5       2.0        2.6       2.2
Gold production (Koz) -          29        26        16        107        67
 100% (1)                                                                   
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(1) Gold production for 2010 represents gold in dore alloy.                 
                                                                            
                                                                            
Somita Operational Data                                                     
                                                                            
                               Three months ended            Year ended     
                         ------------------------------ --------------------
                           December September  December   December  December
                           31, 2011  30, 2011  31, 2010   31, 2011  31, 2010
----------------------------------------------------------------------------
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Ore mined (Kt)                  364       416       387      1,457     1,349
Ore processed (Kt)              325       404       362      1,421     1,274
Gold grade (g/t)                3.1       2.9       3.8        3.3       3.5
Gold production (Koz) -          27        34        30        133       128
 100% (1)                                                                   
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(1) Gold production for 2010 represents gold in dore alloy.                 

About High River

High River is an unhedged gold company with interests in producing mines, development and advanced exploration projects in Russia and Burkina Faso. Two underground mines, Zun-Holba and Irokinda, are situated in the Lake Baikal region of Russia. Two open pit gold mines, Berezitovy in Russia and Taparko-Bouroum in Burkina Faso, are also in production. Finally, High River has a 90% interest in a development project, the Bissa gold project in Burkina Faso, and a 50% interest in an advanced exploration project with NI 43-101 compliant resource estimates, the Prognoz silver project in Russia.

Contacts:
High River Gold Mines Ltd.
Konstantin Sobolevskiy
CEO
011 7 495 981 0910 ext. 6676
[email protected]
www.hrg.ca