|Fire River Gold announces that the Company entered into a purchase and sale agreement ("Agreement") with Ambrian Partners Limited|
FAU news March 29 2010
March 29, 2010. Vancouver, BC -- Fire River Gold Corp. (the "Company" or
"FAU") (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR) announces that the Company
entered into a purchase and sale agreement ("Agreement") with Ambrian
Partners Limited ("Ambrian") pursuant to which Agreement the Company is
purchasing a 1% net smelter royalty return (the "NSR") on the Nixon Fork
Property, a property currently 100% owned by the Company's wholly-owned
subsidiary, Mystery Creek Resources, Inc. ("MCR").
Pursuant to the terms of the Agreement, in consideration for Ambrian
transferring its full interest in and to the NSR, the Company (i) has
paid Ambrian $225,000 in cash; and (ii) will issue to Ambrian, subject
to regulatory approval, 225,000 common share purchase warrants of the
Company, with each warrant being exercisable to acquire one common share
of the Company at a price of $0.75 per share for a period of 18 months
from the date of issue of the warrants.
The Agreement contains customary representations, warranties and
covenants for an agreement of this type, and is subject to regulatory
On behalf of Fire River Gold Corp.
President & CEO
Disclaimer: Certain information regarding the Company including
management's assessment of future plans and operations, may constitute
forward-looking statements under applicable securities laws and necessarily
involve risks associated with mining exploration and development, volatility of
prices, currency fluctuations, imprecision of resource estimates, environmental
and permitting risks, access to labour and services, competition from other
companies and ability to access sufficient capital. As a consequence, actual
results may differ materially from those anticipated in the forward-looking
statements. A feasibility study has not been completed and there is no certainty
the disclosed targets will be reached nor that the proposed operations will be
economically viable. 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 or accuracy of this release.
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 or accuracy of this release. We seek safe harbour.
You can view the Next News Releases item: Mon Mar 29, 2010, Fire River Gold terminates its option on the Golden Zone Project
You can view the Previous News Releases item: Tue Mar 23, 2010, Fire River Gold Corp. produces excellent gold results from geological re-assessment work at Nixon Fork Gold Mine, Alaska
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