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News Releases

Fire River Gold Announces First Tranche Closing
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VANCOUVER, British Columbia, Canada (December 21, 2009)---Fire River Gold Corp. (TSX Venture: FAU) (the "Company") is pleased to announce that further to its news release of November 19, 2009, the Company has now completed the first tranche of its brokered private placement and accordingly has issued 6,000,000 units (the "Units") at a price of $0.50 per Unit for gross proceeds of $3,000,000. Each Unit consists of one common share and one-half of one share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a purchase price of $0.75 for a period of 18 months.

Loewen, Ondaatje, McCutcheon Limited as lead agent and M Partners Inc. and Macquarie Capital Markets Canada Inc. (collectively the "Agents") acted as agents for this financing. As consideration for their participation in the offering, the Agents received a cash commission of $175,880, and were issued an aggregate of 409,700 compensation options, each of which is exercisable into one Unit at a price of $0.50 expiring on June 21, 2011. These Units have the same terms as the Units sold under the private placement.

All securities issued pursuant to this private placement are subject to a four month hold period that expires on April 22, 2010.

About Fire River Gold Corp.

Fire River Gold Corp. completed its IPO at the end of May 2009 and is the newest member of the International Metals Group ("IMG"), (www.internationalmetalsgroup.com) giving it 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 Alaska.

"Harry Barr"

Harry Barr
President & CEO

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 accuracy of this release. We seek safe harbour.

You can view the Next News Releases item: Mon Jan 11, 2010, Fire River Gold Corp. Commences Trading on the U.S. OTCQX International Exchange

You can view the Previous News Releases item: Mon Dec 7, 2009, Corporate Update

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