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September 25 2009 FAU News Release
September 25,
2009
Vancouver, BC, Canada -- Fire River Gold Corp. (the "Company",
"FAU") (CNSX: FAU) is pleased to announce, that further to its news release dated June 19, 2009, July 27, 2009 and September 17, 2009, the Company is pleased to announce, that due to overwhelming response to the current financing, the Company is increasing its $3,000,000 non-brokered private placement by up to an additional $1,000,000 at a purchase price of $0.30 per unit. Each unit consists of one common share in the capital of the Company and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the Company for a period of eighteen (18) months from the date of issue at an exercise price of $0.40 per share.
About Fire River Gold Corp.
Fire River Gold Corp. (FAU) completed its IPO at the end of May 2009. FAU is the newest member of the International Metals Group (IMG) and will have access to a well established team with over 100 years of experience working in Alaska. The primary focus of FAU is the exploration and development of gold projects in North America.
Nixon Fork Property
Highlights about Nixon Fork Gold Project
- Turn key mining operation
- Mine fully permitted and bonded
- Multi million dollar expenditures to date on equipment and facilities
- Significant exploration upside
The recently acquired Nixon Fork Gold Mine in Alaska has the potential to be a near term gold producer.
For further information, please refer to FAU's news releases dated
August 13, 2009 and
June 29,
2009.
A budget of CDN$1.25 million has been allocated with the objective of conducting a re‐evaluation of mine reserves/resources, metallurgy, tailings production scenarios, financial analysis and update on the exploration plan going forward.
Golden Zone Property
In an effort to continue to add to the Company's overall gold ounce
potential and development schedule, on August 19, 2009, FAU announced an option to acquire 100% of the Golden Zone project. The project is located 240 km north of Anchorage, Alaska on the south flank of the Alaska Range and is road accessible.
A US$250,000 2009 program is in progress and will consist of a trenching and mapping program that will assay for gold silver and copper, a trenching program is in progress to test the southern extension of the Breccia Pipe mineralized zone. The Golden Zone has a NI 43-101 compliant mineral resource containing a measured and indicated resource of approximately 3.09 million tons grading 0.082 ounces per ton (opt) gold (2.81 g/t) using a cut-off grade of 0.03 opt gold (1.03 g/t) for a total of 259,940 ounces with 7.61 million pounds of copper and 1.39 million ounces of silver. The US$250,000 2009 program is progress
For further information on the Golden Zone Project, please refer to FAU's news release dated
August 19,
2009.
Draken Property
FAU has commenced with an initial Phase I work program consisting of surface exploration program, detailed rock sampling, mapping, rock chip sampling and metallic sieve analysis on selected samples and is continuing to move forward with the Phase I exploration on its 100% owned Draken Project.
Please click HERE for further information on the Draken Property.
Kansas Creek Property
Management is currently re-evaluating the data on the Kansas Creek Property with the objective of outlining a Phase I exploration program. Management expects to have recommendations and the commencement of Phase I exploration program for the spring of 2010.
For further information on the Kansas Creek Property, please refer to FAU's news release dated
June 19, 2009
On behalf of the Board of Directors
"Harry Barr"
Harry Barr
President & CEO
The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Disclaimer: This news release may contain certain "forward-looking statements". All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and available at www.sedar.com or filed with the Canadian National Stock Exchange. Any forward-looking statements are not guarantees of the Company's future performance and are subject to risks and uncertainties that could cause actual results, developments, and business decisions to differ materially from those contemplated by any forward-looking statements.
Except as required by law, the Company undertakes no obligation to update any forward-looking statements.
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