|Fire River Gold terminates its option on the Golden Zone Project|
FAU news March 29a 2010
March 29, 2010. Vancouver, BC -- Fire River Gold Corp. (the "Company" or
"FAU") (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR) has elected to terminate its
option agreement with Hidefield Gold PLC, Hidefield Gold (Alaska) Inc.
and Mines Trust Company on the Golden Zone Project in central Alaska.
The joint venture partners were provided a 30 day notification of this
decision on 19 March 2010. The Company made this decision in order to
focus its effort on the Nixon Fork Gold Mine Project, also in central
"The Golden Zone is a good exploration property that does not match our
corporate profile," commented Harry Barr, "The Nixon Fork Mine is a
permitted near-term producer, and the Golden Zone represents a much
longer commitment. We have to be careful to not divert our effort,
resources, and expenditures from our core project, which is yielding
At the time this decision was made, the company's NI 43-101 technical
report "Golden Zone Gold-Polymetallic Prospect, Upper Chulitna District
Alaska", dated 24 August 2009, was determined by the BCSC to be
non-compliant. As the company has elected to terminate the agreement, it
will not be taking any steps to rectify the issues put forth by the BCSC
and is retracting its previous disclosures of the resource estimates
made for the Golden Zone Project.
On behalf of the board of directors, we would like to thank our joint
venture partners for their help and cooperation last year on the Golden
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: Wed Mar 31, 2010, Fire River Gold Corp. Announces Additional High Grade Gold Results From Nixon Fork Gold Mine, Alaska
You can view the Previous News Releases item: Mon Mar 29, 2010, Fire River Gold announces that the Company entered into a purchase and sale agreement ("Agreement") with Ambrian Partners Limited
You can return to the main News Releases page, or press the Back button on your browser.